Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Appointing One Member To The Hollywood Police Officers’ Pension Board.
Strategic Plan Focus
Communications & Civic Engagement
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The City of Hollywood Police Officers’ Pension Board was created in 1969 to have the City Commission appoint a designee to the pension board.
The Hollywood Police Pension Fund’s purpose is to invest and re-invest the assets of the pension fund in investments that are allowable under the pension plan, for the sole and exclusive purpose to fund in whole or part those benefits which all members in the plan are entitled to, and to acquire the knowledge necessary to accomplish this in a prudent manner.
The Board consists of seven members; one appointment by the Mayor, one appointed by the City Commission, and five regularly employed Police Officers (serving two-year terms set a different intervals, so that one member is up for election every year).
Fiscal Impact:
This resolution will not fiscally impact the City.
Recommended for inclusion on the agenda by:
Patricia A. Cerny, MMC, City Clerk
Adam Reichbach, Assistant City Manager for Finance and Administration