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IRPS committee approves line‑of‑duty death benefit, asks staff for pension and COLA fiscal impact analyses
Summary
Committee approved a home‑rule line‑of‑duty death benefit (annual cost about $64,000, retroactive to cover two deaths last year) and asked staff for detailed fiscal impact analyses on a proposed 2% retiree COLA and moving Group 3 employees into Group 2 (options and offsets were discussed).
The IRPS Committee recommended a line‑of‑duty death benefit via a home‑rule amendment with an estimated annual cost of about $64,000 and retroactive coverage to include two employees who died last year. The motion passed in committee by voice vote with one abstention.
Pension staff also presented two larger policy options for the board’s consideration: a proposed 2% retiree cost-of-living adjustment (COLA) with an…
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