Council advances pension ordinance first reading; amendment sets contribution cut effective Jan. 1 or earlier

Councilors debated an ordinance that would change multiple pension-plan provisions, including lowering employee contribution percentages for newer hires and narrowing a DROP suspension option. The ordinance drew public comment about fairness and plan history; one speaker said the plan had been as low as 70% funded in 2012. City finance staff and actuaries presented updated fundings: the public-safety plan was reported at approximately 101.47% funded and the general-government plan at about 109.45% for FY27.

Councilor Lehi Davis proposed and the council adopted substitute language amending the code to reduce certain contributions “effective 01/01/2027, or such earlier date as approved by the city manager,” and directed staff to work with the pension software vendor and actuary to expedite implementation. Councilors and staff agreed to return information on implementation timelines and testing; the ordinance will return for a vote at the next regular meeting.