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CASSELBERRY CITY COMMISSION Minutes of November 12, 2013 —Regular Meeting Page 13 of 16 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. Recommendation: The City Manager and the Finance Director recommended adoption of Ordinance 13- 1397 on second reading. Public Hearing: Mayor Glancy opened the public hearing relative to Ordinance 13 -1397. The following individual came forward: Mr. John Casselberry, 700 South Lost Lake Lane, advised he had heard of a new interpretation of some of the law relating to the state pension plan and suggested it may be beneficial for the City to check into it. No one else came forward. Mayor Glancy closed the public hearing relative to Ordinance 13 -1397. MOTION: Commissioner Solomon moved to adopt Ordinance 13 -1397 on second and final reading, as presented. Motion was seconded by Commissioner Aramendia. Motion carried unanimously by voice vote 5 -0. 13. CITIZENS' COMMENTS Mayor Glancy announced persons that wished to make comment or make inquiry on any matter not on the agenda, may request to be recognized during Citizens' Comments. Mayor Glancy announced the rules of decorum. 1. Mr. Mike Johnson, 312 Tangerine Street, (unincorporated Seminole County), expressed some concerns about the size of the City's police force and what he perceived to be an excessive police presence and ticketing practices on the City's streets. 2. Ms. Stephanie Yakush, 111 Graham Road, (unincorporated Seminole County), owner of Italian Ice Paradise in the City of Casselberry on U.S. Highway 17 -92, voiced concerns about the City's signage regulations and what she perceived as the negative effect they had on businesses, and asked that the City work towards being more business - friendly