Title
ORDINANCE NO. 24O-03-113: AN ORDINANCE OF THE CITY OF LAUDERHILL, FLORIDA, AMENDING THE CITY OF LAUDERHILL CODE OF ORDINANCES, CHAPTER 2, ADMINISTRATION, ARTICLE II, OFFICERS AND EMPLOYEES, DIVISION 3, RETIREMENT, PART 2, GENERAL EMPLOYEES PENSION FUND, SECTION 2-63, RETIREMENT DATES AND BENEFITS TO CREATE A NEW PARAGRAPH (2) TRANSFERS BETWEEN COVERED AND NON-COVERED EMPLOYMENT; AMENDING PART 4, SENIOR MANAGEMENT PENSION PLAN AND TRUST FUND, SECTION 2-88.8, TRANSFERS BETWEEN COVERED AND NON-COVERED EMPLOYMENT RELATING TO COORDINATION OF BENEFITS FOR CERTAIN PARTICIPANTS BASED ON DATE OF HIRE; AMENDING PART 5, COORDINATION OF BENEFITS, SECTION 2-88.30, COORDINATION OF BENEFITS AMONG ALL CITY OF LAUDERHILL PENSION PLANS TO CLARIFY THE EFFECTIVE DATE AND APPLICATION OF THESE PROVISIONS; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, DESORAE GILES-SMITH).
Body
Request Action:
Amend the Code of Ordinances Pension sections relative to coordination of benefits among all city retirement plans.
Need:
Approve code amendments to address coordination of benefits among all city retirement plans.
Summary Explanation/ Background:
To amend the city code of ordinance sections to address coordination of benefits among all city retirement plans. To address transfers between covered and non-covered employment based upon date of hire. and to clarify the effective date and application of provisions relative to coordination of benefits.
Attachments:
actuarial impact statement.
Cost Summary/ Fiscal Impact:
Include projected cost, approved budget amount and account number, source of funds, and any future funding requirements
Estimated Time for Presentation:
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in ...
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