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Council weighs retirement options for public safety staff; League of Cities briefs on private pension alternatives
Summary
A Florida League of Cities representative outlined pros and cons of private defined-benefit plans and the Florida Retirement System; council asked staff to arrange a presentation from FRS and consider an actuarial cost study.
Town officials and a League of Cities representative discussed retirement benefits and recruitment challenges for police and fire staff at the Jan. 14 Lake Clarke Shores council meeting.
Jeremy Langley of the Florida League of Cities told the council the League can operate turnkey defined-benefit plans for municipalities and said that for small departments a local plan can be more flexible and often less costly than joining the Florida Retirement System (FRS). "If you can keep it in house, it's good," Langley said, explaining that a municipal-run pension can be…
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