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City staff brief council on FOP retirement options; executive session planned before bargaining
Summary
Commerce City Human Resources briefed council on police-retirement options, including the current MissionSquare defined-contribution plan and a possible move to FPPA’s defined-benefit pension; HR said a council resolution would be required to offer FPPA and scheduled an April 7 executive session for detailed bargaining preparation.
Commerce City — Human Resources staff reviewed retirement-plan options for the city's police union (FOP), highlighting differences between the current defined-contribution program (MissionSquare/401(a)) and a potential defined-benefit pension through the Fire & Police Pension Association (FPPA). HR said the city and the union had jointly engaged HIAS Group (a Morgan Stanley subsidiary) to present factual comparisons and that MissionSquare and FPPA each made presentations for members.
Veil Levante, Director of Human Resources, summarized the comparison and told council that FOP membership had voted in favor of offering an FPPA option: "88% of FOP members did say they wanted to offer the…
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