Trustees approve revised ordinance language on in‑service distributions and send to city commissioners

The Sarasota City General Employees Pension Plan trustees voted unanimously April 23 to approve a revised ordinance regarding in‑service distributions and to forward the revised language to the city commission for consideration.

The plan attorney explained the revised ordinance removes problematic date language (previously a reference to December 28/31) and said he had reviewed the document and found no additional changes required. The package included a letter from the plan actuary indicating the ordinance would not have an actuarial impact on the fund.

Treasurer Strickland moved to accept the revised ordinance and Vice Chair Nicholas seconded; trustees voted aye and the motion passed unanimously. The attorney offered to attend the city commission meeting—virtually or in person—if the commission requests counsel during the ordinance’s legislative consideration.

Why it matters: Changing ordinances that govern in‑service distributions can affect eligibility and administrative processing of employee benefit elections. Trustees confirmed HR’s prior input on the '59 and a half' language and staff noted the timing for the ordinance’s advertisement and presentation to the city commission.

Next steps: Staff will arrange advertisement and schedule the ordinance for the appropriate upcoming city commission meeting; the board noted the first city meeting in July will include a new city manager and advised staff to coordinate timing as necessary.