Title
An Ordinance Of The City Of Hollywood, Florida, Amending Section 33.062 Of The Code Of Ordinances Regarding The Firefighters Pension Plan; Creating A New Benefit To Be Known As The Reformed Planned Retirement Benefit.
Body
Staff Recommends: Approval of the resolution.
Explanation:
Section 33.062 of the Code of Ordinances creates a pension benefit known as the planned retirement benefit. The City and Hollywood Professional Firefighters, Local #1375, IAFF, have entered into a Memorandum of Understanding that, among other things, requires the creation of a pension benefit to be known as the reformed planned retirement benefit.
According to Section 33.063 of the Code of Ordinances, amendments to the firefighters pension plan must be approved by (i) a “majority plus one” vote of the City Commission and 50% plus one of the voting members of the pension plan or (ii) a majority vote of those qualified electors voting in a referendum election called for such purpose. The amendment to create the reformed planned retirement benefit has been approved by 50% plus one of the voting members of the pension plan, and the approval of this ordinance by a “majority plus one” vote of the City Commission will cause the reformed planned retirement benefit to take effect;
Recommended for inclusion on the agenda by:
Douglas R. Gonzales, City Attorney
Dr. Wazir A. Ishmael, City Manager
George R. Keller, Jr., Assistant City Manager for Public Safety