LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
title
PROPOSED ORDINANCE NO. 10-21 AMENDING SECTION 9-5-72 OF THE CODE OF THE CITY OF PENSACOLA - PROHIBITING ADDITIONAL FUNDING OF THE FIREFIGHTERS' DEFERRED COMPENSATION PLAN
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RECOMMENDATION:
recommendation
That City Council adopt Proposed Ordinance No. 10-21 on second reading.
AN ORDINANCE AMENDING SECTION 9-5-72 (c) OF THE CODE OF THE CITY OF PENSACOLA, FLORIDA; PROHIBITING ADDITIONAL FUNDING OF THE FIREFIGHTERS’ DEFERRED COMPENSATION PLAN; PROVIDING FOR SEVERABILITY; REPEALING CLAUSE; PROVIDING AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
Ordinance No. 01-21 was adopted on January 21, 2021, providing for no future contributions into the Firefighters’ Social Security Replacement Program Deferred Compensation Plan due to the changes in the Firefighters’ Relief and Pension Plan benefits included in the IFFA contract. However, those benefits will not be effective until the Firefighters’ Relief and Pension Plan changes are passed and signed by the Governor. Therefore, we need to reinstate the contributions to the Deferred Compensation Plan until the date the Special Act changes are effective.
PRIOR ACTION:
February 25, 2021 - City Council voted to approve Proposed Ordinance No. 10-21 on first reading.
January 21, 2021 - City Council adopted Ordinance No. 01-21 on second reading.
FUNDING:
N/A
FINANCIAL IMPACT:
None
CITY ATTORNEY REVIEW: Yes
2/5/2021
STAFF CONTACT:
Keith Wilkins, City Administrator
Amy Lovoy, Finance Director
Ted Kirchharr, Human Resources Director
ATTACHMENTS:
1) Proposed Ordinance No. 10-21
PRESENTATION: No end