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Northglenn Council agrees to deeper analysis comparing current police retirement plan with FPPA option
Summary
An independent consultant explained differences between the citys defined‑contribution police retirement plan and a Colorado FPPA defined‑benefit option; council gave staff consensus to pursue further financial analysis but made no decision to change plans.
The Northglenn City Council on Sept. 20 asked staff to pursue further financial analysis after an educational briefing on differences between the city’s existing police defined‑contribution (money‑purchase) retirement plan and the state Fire & Police Pension Association (FPPA) defined‑benefit option.
Jared Martin, a principal with Innovest Portfolio Solutions, reviewed conceptual differences: defined‑benefit plans promise a lifetime payout formula (example: percentage of a highest average salary multiplied by years of service) while defined‑contribution plans define contributions and leave investment and distribution choices to…
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