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City council adopts pension ordinance change to permit full lump‑sum payouts
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 the second reading of the ordinance amendment; the city’s pension plan attorney and staff provided an actuary study showing no financial impact from the change. The modification adjusts the lump‑sum payment option from 99% to 100% for both the general municipal plan and the police plan.
Public comment was not offered and the council voted 5-0 to adopt the ordinances. The motion was made by Councilman Pierre Frans Charles and seconded by Councilwoman Estimate Irving.
Why it matters: The change affects retirement payment choices for city employees and sworn police members, authorizing an explicit 100% lump‑sum option where previously the code referenced a 99% cap; staff presented actuarial analysis to support the adoption.
What happens next: City staff and the pension plan attorney will implement the ordinance changes in plan documents and administrative procedures.
Ending: Council recorded the second reading and adopted the amendments without dissent.
