City of Coral Gables

File #: 14-3235    Version: 1 Name: FOP Pension Ordinance
Type: Ordinance Status: Adopted
File created: 7/28/2014 In control: City Commission
On agenda: 8/4/2014 Final action: 8/26/2014
Enactment date: 8/26/2014 Enactment #: 2014-19
Title: An Ordinance amending Chapter 50 of the "Code of the City of Coral Gables," entitled "Pensions"; amending Section 50-34, Employee Contributions and Section 50-246, Deferred Retirement Option Plan; providing for repealer, codification, and an effective date. (Passed on First Reading August 4, 2014)
Attachments: 1. Signed Ordinance 2014-19, 2. E-7 Signed Cover Memo, 3. A-1 Signed Cover Memo, 4. W022 Pension ordinance FOP2, 5. Verbatim Transcript - Special CCMTG - August 4, 2014
Title
An Ordinance amending Chapter 50 of the "Code of the City of Coral Gables," entitled "Pensions"; amending Section 50-34, Employee Contributions and Section 50-246, Deferred Retirement Option Plan; providing for repealer, codification, and an effective date. (Passed on First Reading August 4, 2014)
Body
Pursuant to the collective-bargaining-agreement between the City and the Fraternal Order of Police, Lodge Number 7, effective September 30, 2014, (1) sworn personnel shall contribute 10% of their pensionable earnings to the retirement system and (2) there shall be no reduction in the maximum DROP period applicable to any police officer who defers entry into DROP for more than 6 months following the earliest applicable DROP eligibility date.