Title
FPPA Police Pension Plan Request
Body
Summary and Background Information:
The Fraternal Order of Police contacted the City Manager in March of 2018 and requested the opportunity to evaluate changing from the current police pension plan to the FPPA state-wide defined benefit plan. The City Manager asked the Police Pension Board, appointed by City Council, to evaluate the request and gather information. Based upon the information gathered to-date, the next step in the process is to complete contract negotiations through the Collective Bargaining Agreement, in June 2019. City Council will hear some of the key factors leading to this decision including;
1) The City is bound by the terms and conditions of the current contract with its current provider, ICMA
2) The terms of the current CBA do not align with the FPPA requirements
3) There are several undetermined costs associated with this change, if it were approved
4) The Police Pension Board, appointed by City Council, does not have the authority to contemplate or make recommendations related to this change
If future contract negotiations lead to terms that enable a possible change to the police pension plan, the city council will have to decide if they want to consider a change and ultimately approve any future changes to the police pension plan.
Staff Responsible (Department Head): Troy Smith, Deputy City Manager
Staff Member Presenting: Brian McBroom, City Manager, Troy Smith, Deputy City Manager
Financial Impact: TBD
Funding Source: General Fund Budget
Staff Recommendation: N/A
Suggested Motion: N/A