Title
ORDINANCE NO. 4089. AMENDING CHAPTER 17 (PENSIONS AND RETIREMENT) OF THE CODE OF ORDINANCES OF THE CITY OF PINELLAS PARK, FLORIDA, PINELLAS PARK GENERAL EMPLOYEES' PENSION FUND
PUBLIC HEARING, SECOND AND FINAL READING
(Speaker - Lisa Hendrickson, Human Resources Administrator)
Body
NOTE: This Ordinance amends Article II, Chapter 17 (Pensions and Retirement) relating to the Pinellas Park General Employees' Pension Fund for Members who enroll in the DROP on or after October 1, 2019, by providing for an interest rate equal to the return experienced by the fund up to a maximum of a net positive quarterly return of 1.00 percent (1.00%) and the maximum net negative return of 1.00 percent (1.00%).
C1 on 9/5/19 Council agenda.
Recommendation
ACTION: (Pass - Deny) Ordinance No. 4089. Public hearing, second and final reading.