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City council adopts pension ordinance change to permit full lump‑sum payouts
2797494 · March 27, 2025
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Summary
Council unanimously approved amendments to two pension ordinances to allow a 100% lump‑sum distribution option; staff said an actuary study shows no financial impact.
The City of North Miami on a 5-0 vote adopted amendments to the employee retirement system (Ordinance No. 691) and the North Miami Police Pension Plan (Ordinance No. 748) to permit lump‑sum distributions for members at 100% of the allowable amount.
Debbie Love, development services director, introduced the item as…
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