Agenda Item #3840 - Ord. 13-024
1st & 2nd Reading - Referred to Finance Committee
An Ordinance to Implement the Recommendation of the Pension Commission
Synopsis: This Ordinance is being presented by the Administration for Council’s review and approval. The $200,000 increase is based on a recommendation to the Administration earlier this year by the City Pension Commission. If approved by Council, $100,000 of the appropriation would benefit police and fire retirees, while the remaining $100,000 would benefit all other non-uniformed retirees. The monthly increase in pension benefits would be retroactive to July 1, 2013 or to the beginning of the FY 2014 Fiscal Year.