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Council approves first reading of firefighters-pension ordinance to comply with Secure 2.0 Act
Summary
Council approved the first reading of Ordinance O-01-2025 to amend the town's firefighters' pension rules for consistency with Secure 2.0 and changes to the Florida Retirement System; staff said the plan affects only two legacy participants and extends DROP from five to eight years.
The council approved the first reading of Ordinance O-01-2025, amending Chapter 14 (personnel) Article 4 to update the firefighters' pension fund so the town's code remains consistent with the Secure 2.0 Act and recent Florida Retirement System changes.
Town Attorney (reading the ordinance) explained the measure "is just maintaining compliance with the Secure 2.0 Act" and said it includes a severability clause and minor plan edits. Staff noted the changes will affect a legacy group of only two participants in the town's historical plan and that the DROP period was modified from five to eight years for those members; an actuarial analysis had been completed to assess the impact.
Council member Mason moved the ordinance at first reading and Doctor Morehouse seconded; the council approved the motion by voice vote. No public speakers registered on the item.
The ordinance will return for any legally required subsequent readings; staff said actuarial work indicates the change should not negatively affect the pension fund.
