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Council hears first reading of ordinance to amend municipal police pension; changes would alter contribution and vesting rules
Summary
Council held the first reading of an ordinance proposing multiple amendments to the Perry Municipal Police Officers Retirement Trust Fund, including changes to contribution percentages, benefit eligibility windows and Deferred Retirement Option Plan (DROP) provisions; the ordinance will return for a second reading.
The City of Perry council held the first reading April 22 of an ordinance amending the City of Perry Municipal Police Officers Retirement Trust Fund. The ordinance (first reading) proposes several changes, including revisions to contribution levels, benefit amounts and eligibility, disability provisions, investment authority and DROP rules.
Speakers during the item included members of the police pension board and…
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