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CASSELBERRY CITY COMMISSION Minutes of October 14, 2013 — Regular Meeting Page S of 11 Staff Presentation: Ordinance 13 -1397 provides for amendments to the Police Officers' and Firefighters' Pension Plan. Recent amendments to the police and fire union contracts have created a need to change several sections of the current Police Officers' and Firefighters' Pension Plan Summary. The changes are to provide that the member contribution rate will be increased from 0.5% to 3.0% of salary. In addition, for those hired on or after September 15, 2013, the normal retirement date shall be the earlier of a) attainment of age 55 with 10 years of credited service or b) attainment of age 52 with 25 years of credited service; provide that the automatic annual cost of living adjustment for members hired on or after the stated date, shall begin on the first July 1 following 5 years after the later of a) commencement of benefits or b) the member's otherwise normal retirement date; and amend the vesting requirement for members hired on or after the stated date to be 8 years instead of 6 years. If approved, the requested changes will all be retroactively effective as of September 15, 2013. Mr. Newlon advised that Finance Director Rebecca Bowman was present and available for questions. Budget Impact: The FY 2014 budget anticipated approval of the change of the contribution of the pension plan members from a.5% contribution rate to a 3% contribution rate in addition to the 2.5% increase in salaries. Savings were also anticipated by the 2.5% reduction in City contribution to the plan. Audience Input: The following individual came forward to address Ordinance 13 -1397: Mr. John Casselberry, 700 South Lost Lake Lane, voiced some concerns about the difference between participation in the City's pension plan and the State's pension plan. MOTION: Commissioner Aramendia moved to approve Ordinance 13 -1397 on first reading, as presented. Motion was seconded by Vice Mayor Solomon. Motion carried unanimously by voice vote 5 — 0. 11. PUBLIC HEARINGS No items were presented for consideration on this agenda. 12. OTHER ITEMS A. Triplet Lake Drive Signature Street Plans Review Staff Presentation: Assistant Public Works Director /City Engineer Kelly Brock presented the draft plans and an update on the Triplet Lake Drive Signature Street project which is nearing completion of the design phase. He advised that the goal was to have the bid documents for the project by the end of the calendar year and to begin construction in the first quarter of 2014. Discussion: Discussion ensued regarding some of the design components shown in the presentation, including costs, drainage, lighting options, sidewalks, and maintenance and safety issues.