Staff presents drafted ordinance to add partial lump‑sum option to three plans; special meeting scheduled

A staff member named Anna presented a drafted ordinance on July 9 that would add a partial lump‑sum distribution option to all three pension plans and said she had submitted the language to Patrick for an impact statement ahead of a planned council submission.

Anna told the board the draft "gives the options 5, 10, 15, and 20 percent, that will be paid under the normal form, or optional form as per the section in the plan." She said Patrick had been asked to prepare an impact statement and that, because meetings had been delayed, he had not had much time to work on it but she expected it to be available before the next meeting.

The nut graf: board members discussed timing and logistics; Anna said that once the impact statement is received she would provide the materials to city council and hoped to get the ordinance passed quickly. Board members agreed a special meeting would be needed to authorize drafting for a fixed rate if the board chose that route.

In the discussion, a board member confirmed that no ordinance for a fixed rate had yet been written and that a meeting would be needed to authorize drafting such language. Anna said a special meeting would be required "to get those things approved, especially if you want to negotiate partial lump sum as part of the..." and later agreed to schedule a special meeting. The meeting was scheduled for 01:00 on Wednesday, July 4.

Anna also reminded members that Form 1 financial disclosures were due July 1 and that the filing is electronic; she said once completed this year the form should auto‑populate in subsequent years. No formal vote was recorded during the discussion; the actions were procedural (requesting an impact statement, scheduling a special meeting, and preparing materials for city council).

Ending: Anna closed the item by asking whether members had questions and by confirming the special meeting date and time.