The URL can be used to link to this page

Home My WebLink About12-01-2016 PBA Public NoticeSET�N HOME OF PELICAN ISLAND PUBLIC NOTICE — PUBLIC MEETING DECEMBER 1, 2016 There will be a meeting open to the public Thursday, December 1, 2016 at 2:00 p.m. in the City Council Chambers, City Hall, 1225 Main St. Sebastian, Florida for the purpose discussing changes to the benefit provisions of the Sebastian Police Officer Pension Plan with the City and representatives of Coastal Florida Police Benevolent Association (CFPBA). AGENDA I. CALL TO ORDER BY KEN KH.LGORE, ADMINISTRATIVE SERVICES DIRECTOR II. COMMENTS BY REPRESENTATIVES OF COASTAL FLORIDA POLICE BENEVOLENT ASSOCIATION HI. PUBLIC COMMENTS IV. ADJOURN HEARING ASSISTANCE HEADPHONES ARE AVAILABLE IN THE COUNCIL CHAMBERS FOR ALL GOVERNMENT MEETINGS. ANY PERSON WHO DECIDES TO APPEAL ANY DECISION MADE WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE HEARD. (F.S.286.0105) IN COMPLIANCE WITH THE AMERICAN WITH DISABILITIES ACT (ADA), ANYONE WHO NEEDS A SPECIAL ACCOMMODATION FOR THIS MEETING SHOULD CONTACT THE CITY'S ADA COORDINATOR AT 589-5330 AT LEAST 48 HOURS IN ADVANCE OF THIS MEETING. backsl `OoundngbuY� Cm rvice`N\ththe �itV OP etirement ears of 5e e with the ated in DR DR P Period SUGGE-!%ONS lb\e for N°rmacomp\et on of 25 Years °f seenc Y date re us part pen Board ax O tr v\o sion rtnum P PROGRAM Must be e\i be age 5S and comb\etwn of oaths Prior to5ence °r have P ed by the 60 In -Wed m ived ORp Must a e 52 and lest form 6 m leave of ab P y aPPf0v cece end date e DROP b than th DROP Must b" elect' on reaue month to be deducte d fr° yments a\read % E\\gihiiitycomPe°salon of y most s bbe on workersd str\butwn esign not later ent date causes e rePaynnent °f an Person D ftp4 entry and fina le choke t f es not Chang diem s an Electiwnis\rreveopedrementfol\ov+\ngthenorm O uaelance S or IYP mon 5e results In forfe o Each month after 12 e and 60 m nth5 y Option but no"b V felononth or less <han 24 months 15 da s earl\er �Onvictwn of a rova\ of eOj t e r OP Period• of death d at\east ore 60 with aPp d of the DR terminat'On rova\ recewe May be exteneea age 60 byhoe erred ex `pt b' ion Board app be DROP PeflOd DRp4 period Must n°Qeod maY pot b°\\owing n onth rn DRO4 date high the do DR OP s 1 s not reQu\re rv' . trine at ion 5O net P oath but on y unb\ en maV collect monthly PeOsro OP P n of the d while entN Pal \ DR start deduct tfu\\m ° don ims \oyee COntr\but\ated based n account out Pension at \east a 5e\ected p urance c\a EmP fn ca\cu tO DR but witY osrXs held encV ding p° a roue ins DROP heOe nefvt credlteddorine DROP onow on eun ro an emerg balance ane dePeh ns had\F d tiro" a ` U-It e0"g Part ciPants MonCmee to earn 3� comp ess g DRp4 ac c° gets DROP emP et c°nt`� utr her P o job fe rim test paid a (o icons f V O? period, be°ehcia ed Payrol\, 5Ocos,I \oe entior plans all be\P Nith sa aresh\p P DR cover ative ss\on P DROP if death occurs Burin of counted \n stac edits, adrners to address SUcce while in is no \ong e intere manag icrPan offsetbYth n\tiesfor \oyn1e"t Rp4Period al5ervicecredr servicetime S Part savings is "ter OPP°rtu rantee of emPofe end of D leave a5e addition inc\ueee in UN consideration 5„ou\d PrOvide be s nO addition a\ o° any teas (be annual andana rnaY not porch recalculated and Wes men to acc Bath enefit5 efits are be repaid FarticiPant recfrom en'p\oy and continue nt Ord b to buben s roost actions 5ea rate insurance a retueh'e and of t ROP balance Oj the ° Paqmen earning taxes. \inafN °f DROP EmP\oyee Status �oandnue grOu}b\e {of di5abal�a serve °n "he 8O results in l°ssorf ombinadoe"hs °r DRO v fith 20°�°twithho\dingfolgaN leave °ernes rt time the longer ellg vote for ending date ayme°t ith\n 6 m ayment time duet° V. continue th No to by the stated \urnp-sur e9ntractua qw PardirPants nia. d roi\over, °r be given a \umP y sUm un ter ry ma a dire e, Part tim 6p daYS when the depositand 'rftheareCUrn{Ovro Fa+l\ng;O alommP\oVedlfu\\-trm odwithm termination M�y n be re CROP Palou meted for the b\eave the r DRf" and p4 account °n Must se\ect s crea lea ay j s ts ate DROP acrounn mi\itaN Or Other ve m rv\c EmP\OYees breaks in Se e prafted by Ken KiUg°re November 23' 2016 - COLA SUGGESTIONS Eligibility Retiree or beneficiary must be 62 years old and retired for over 60 months (including months while in DROP) or 55 years old and retired over120 months or a Disability Retiree for 5 or more years Beneficiary gets Y2 of amount granted Benefit May be granted but not guaranteed Will be granted to be effective on October 1st No more than the lessor of 1.5% or $50 per month and only if recommended by Pension Board and approved by City Council BUY-BACK SUGGESTIONS Eligibility Up to 4 years Military time with honorable service may be purchased after 5 years of service Members called to military duty can purchase that time by paying employee contributions missed without interest providing they have 3 times the length of service being purchased Up to 4 years of Service with other agencies engaged in law enforcement work can be purchased after 5 years of service Conditions Must be purchased in 1 year increments Cannot be time for which a retirement payment is earned except for disability Except for members called to military duty, employee must pay full actuarial cost based on life expectancy, salary and earliest date eligible to receive benefits Cannot buy service in order to reach the 30 year vesting requirement If employee leaves before the 30 year vesting, buy back payments will be refunded Drafted by Ken Killgore November 23, 2016