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Council approves first reading of firefighters pension cleanup, cites $37,000 projected cost
Summary
On first reading the council approved an ordinance clarifying the firefighters retirement plan's average final compensation calculation (3 of the best 5 years); staff said the change is mostly a technical cleanup from earlier negotiations and estimated roughly $37,000 additional cost, with cost-sharing agreed in bargaining.
City staff presented Ordinance No. 20-26-23-46 on first reading to amend the firefighters retirement system code by clarifying the definition of average final compensation and consolidating multiple calculations into one uniform formula.
Mister Wetzell, speaking for staff, said the change cleans up language reached during negotiations with the IAFF local bargaining unit and will replace two separate calculations with a single approach using the highest three of the last five years. He said the pension actuary estimated the additional, near-term cost at approximately $37,000 and that the union had agreed to a reduced wage settlement to fund part of the change.
Councilmembers described the ordinance as a cleanup that provides consistent calculations for members who qualified under rules in effect before Sept. 30, 2013. With that background, the council moved and approved first reading and directed the ordinance to come back for a second reading; the first-reading motion passed by unanimous voice vote (5-0). The action was procedural: no final pension changes or retroactive payments beyond the ordinance language were enacted at this meeting.
Staff and council noted the item will return for a second reading after required posting and review by pension counsel and actuaries.
