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Commission passes first reading to make certain police pays pensionable; actuarial cost small
Summary
On first reading the Commission approved an ordinance to amend the pension plan so assignment pay and shift differential become pensionable; an actuarial impact was cited as approximately $17,541 and employees would share the cost via a 7.705% contribution, staff said.
Staff presented an ordinance to amend Chapter 16 (pensions) to implement terms negotiated with the Police Benevolent Association and the Fraternal Order of Police so certain pays — including assignment pay and shift differential — become pensionable. Staff said an actuarial analysis showed an approximate fiscal impact of $17,541. To offset the change, employees would share the cost through a 7.705% contribution to the pension for those pays.
City Manager noted the change follows contract reopener language and that staff and unions agreed to share the cost of obtaining the actuarial report. Commissioners asked no additional questions and the ordinance passed first reading by roll call.
