SUBJECT/RECOMMENDATION:
Title
Adopt Ordinance 9818-25 on second reading, amending the Clearwater Code of Ordinances by creating Section 2.429 to permit firefighters to purchase prior firefighter and military service.
Body
SUMMARY:
The City of Clearwater Employees’ Pension Plan governs the payment of retirement benefits for City employees. Chapter 175, Florida Statutes permits firefighters to purchase prior firefighter and miliary service.
In 2024, the City and International Association of Fire Fighters agreed to a change in the Pension Plan. Current firefighters will be eligible to purchase up to five years of prior firefighter and miliary service. The purchased years of service will be added to the member’s years of credited service. The member shall pay all costs associated with the purchased years of service. The Plan’s actuary has studied the cost of this ordinance and has determined that there is no actuarial impact.
APPROPRIATION CODE AND AMOUNT:
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