CITY OF HALLANDALE BEACH, FLORIDA

MEMORANDUM

DATE:             May 9, 2008

TO:                  D. Mike Good, City Manager

FROM:            Mark Antonio, Assistant City Manager

SUBJECT:     Police and Fire Pension Ordinance – First Reading

PURPOSE:

To adopt on First Reading an Ordinance that will adopt the Police and Fire Collective Bargaining Agreement (CBA) pension changes into the Pension Ordinance.  Following adoption of First Reading, an Impact Valuation will be completed prior to consideration of adoption on Second Reading.

BACKROUND:

The City Commission ratified the Police and Fire Collective Bargaining Agreements on March 7, 2006 and October 3, 2006 respectively.  Both CBA’s contained pension related changes that requires revision of the Pension Ordinance 2004-09.  Prior to the adoption of the Pension Ordinance on Second Reading an Actuarial Impact statement must be prepared and presented to the City Commission and the State Division of Retirement. 

The newly assigned Actuary for the Pension Plan has just completed the October 2006 Valuation and is about to complete the October 2007 Valuation this month.  Since an Impact Valuation requires six to eight weeks to complete following the passage of the Pension Ordinance on First Reading, the Ordinance must be returned when ready after the Actuary completes the study.  “Exhibit A” to the Ordinance, attached, contains language that is underlined and stricken through for the Commission’s convenience showing the benefits that were collectively bargained.  Once the Ordinance passes on Second Reading the language will be formatted appropriately.

DISCUSSION:   

The attached Ordinance was prepared by the pension board attorney with edification by the City Attorney and reflects only the negotiated benefits from the CBA’s.  The City will continue to work toward the adoption of the Pension rewrite Ordinance which will have no impact on the adoption of this Ordinance. 

RECOMMENDATION:

Staff recommends adoption of the attached Ordinance on First Reading and schedule Second Reading when ready.

Reviewed:

___________________________                              _______________     

D. Mike Good, City Manager                                       Date

_____  Approved                     _____  Denied             _____  Hold for Discussion

COMMENTS: 

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