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Parkland commission asks staff to run numbers on retirement options for elected officials
Summary
Commissioners heard comparative data on municipal retirement offerings and asked staff to prepare cost scenarios for giving commissioners access to defined-contribution plans or the Florida Retirement System.
City of Parkland commissioners on Wednesday asked staff to run detailed cost scenarios after a presentation on how retirement benefits for elected officials compare with other Broward municipalities.
At a May 21 workshop, Jackie Weymier, senior director of strategy and intergovernmental affairs, told the commission the city already contributes 11% to employees' 401(k)-style retirement plan and offers a 4% match on 457 contributions when employees contribute at least 4% themselves. "If you look at it, for a general employee who decides to put at least 4% themselves into a 457, the city is giving them 15% total," Weymier said, explaining…
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