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Commission adopts ordinance amending police and firefighters retirement plan tied to PBA agreement
Summary
On second reading the commission approved Ordinance 2024-1048, which amends the Lighthouse Point Police & Firefighters retirement plan to reflect terms of the 2024–2027 collective bargaining agreement with the Broward County PBA; staff said the actuary built the changes into the pension so there is no additional cost to the city.
Staff said the commission previously approved a collective bargaining agreement with the Broward County Police Benevolent Association (PBA) and asked the commission to amend the city’s retirement plan by ordinance to reflect provisions of that agreement. The ordinance modifies Article 37 of the retirement plan so the duration of certain in-service distributions and DROP periods count toward the five years required for eligibility for cost-of-living increases.
Staff emphasized that those adjustments have been incorporated into the actuary’s calculations and will not increase the city’s pension fund costs. The public hearing drew no speakers and the commission approved the ordinance on second reading by a 5–0 vote.
