The board’s attorney reviewed a recently revised ordinance that would let members of the city’s three pension plans choose to receive a partial lump sum at normal retirement in exchange for a reduced monthly benefit.

The ordinance, as described by counsel, applies to “the general plan, the police plan, and the fire plan.” Counsel said members not in the DROP (Deferred Retirement Option Plan) would have “a choice as long as they're not in the drop,” and described four fixed lump‑sum/benefit tradeoffs: 5% lump sum (95% monthly benefit), 10%/90%, 15%/85% and 20%/80%.

Counsel emphasized the choice is voluntary and intended to be “an actuarial equivalent benefit” borne by the member rather than a city cost: “This is a member cost, so it's a trade off, and it's entirely up to the member,” counsel said. Trustees were told the ordinance title was updated in the last days to explicitly state it applies to all three plans.

No formal adoption vote on the ordinance was recorded in the meeting transcript; counsel said the actuary would provide a cost estimate and that the board could request the actuary or counsel to attend city commission meetings only if asked. Trustees did not direct staff to take immediate ordinance finalization steps at this meeting.

The attorney’s presentation also included administrative guidance about how trustees should seek assistance from counsel or the actuary if they expect city commission questions about the ordinance.