Title
An Ordinance Of The City Of Hollywood, Florida, Amending Chapter 33 Of The Code Of Ordinances Titled "Police Officer's Retirement System"; Incorporating Various Changes To The Retirement System Contained In The Collective Bargaining Agreement Between The Fraternal Order Of Police, Lodge #24 And The City Of Hollywood, Including Changes Relating To Definitions, Normal Retirement Benefits, And Military Service Buy Back; Further Amending Chapter 33 By Removing Outdated And Obsolete Provisions.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the attached Ordinance.
Explanation:
SECOND READING:
No changes since first reading.
FIRST READING:
The Fraternal Order of Police ("FOP"), Lodge #24 and the City of Hollywood, Florida, have negotiated a Collective Bargaining Agreement for the period commencing October 1, 2022, and terminating September 30, 2025. Included in that agreement are changes to the Police Officer's Retirement System ("Pension Plan"). As Chapter 33 regulates the Pension Plan, in order to make the agreed upon changes official, it is necessary to incorporate them into the Code of Ordinances.
Section 33.138 of the City's Code of Ordinances requires, as one of the two alternative procedures to amend the police officers' pension plan, approval by a 5/7 vote of the City Commission and 50% plus one of the active members of the police officers' pension plan. Prior to the adoption of this Ordinance on second reading, 50% plus one of the active members of the police officers' pension plan will have to approve the amendments contained in this Ordinance.
Fiscal Impact:
The proposed Ordinance include changes to holiday and overtime hours for Group Two and Three members and cost-of-living adjustments for Group Three members. An actuarial impact study of the proposed benefit changes regarding holiday and overtime hours for Group Two and Three members was prepared by the Hollywood Police Officers' Retir...
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