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Commerce City staff brief council on FOP retirement options; executive session planned before bargaining
Summary
City staff and HR presented options comparing the current MissionSquare 401(a) plan with the Fire & Police Pension Association (FPPA) defined-benefit pension; 88% of union members favored offering FPPA as an option and council scheduled an April 7 executive session to set bargaining guidance.
Commerce City’s human resources director and consultants briefed council on retirement-plan options for the Fraternal Order of Police (FOP) bargaining unit, including the city’s current defined-contribution plan (MissionSquare 401(a)) and a defined-benefit pension administered by the Fire & Police Pension Association (FPPA).
Veil Levante, director of human resources, said the city and the union jointly commissioned the actuarial adviser HIAS Group to present neutral, factual comparisons of the two models. The FOP membership subsequently voted and 88% of responding members favored offering the FPPA option to the bargaining unit, Levante said.
Key differenc…
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