Title
RESOLUTION NO. 20R-06-102: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN THE CITY OF LAUDERHILL AND TEAMSTERS LOCAL 769 REGARDING THE TERMS OF ELIGIBILITY FOR PARTICIPATION IN THE CITY OF LAUDERHILL’S GENERAL EMPLOYEES PENSION PLAN DEFERRED RETIREMENT OPTION PLAN (“DROP”); PROVIDING FOR TERMS AND CONDITIONS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY INTERIM CITY MANAGER, DESORAE GILES-SMITH).
Body
Request Action:
Approve a Memorandum of Understanding (MOU) with the Teamsters Local 769 regarding the provisions for eligibility to participate in the City of Lauderhill's General Employees Pension Deferred Retirement Option Plan ("Drop").
Need:
To approve a MOU relative to the terms of eligibility regarding the GE Pension Plan DROP Plan.
Summary Explanation/ Background:
The Teamsters Local 769 wishes to enter into a Memorandum of Understanding to outline the specific terms for eligibility for participation in the City of Lauderhill's General Employees Pension Deferred Retirement Option Plan ("Drop") in accordance with the Collective Bargaining Agreement entered into for the term October 1, 2018 through September 20, 2021.
Attachments:
MOU
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 lower 50% in Broward [ ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Qu...
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