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MINUTES
DANIA CITY COMMISSION
WORKSHOP MEETING
MARCH 18, 1986
ROLL CALL : `
Present :
Mayor : John Bertino
Vice Mayor : Chester A. Byrd
Commissioners : Jean Cook
Howard Hirsch
City Attorney : Frank Adler
Acting City Manager : Wanda Mullikin
Deputy City Clerk : Marie Jabalee
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Absent :
Commissioner : Charles McElyea
1 . Discussion of proposed ordinance amending General Employees '
Pension Plan .
Steve Palmquist, of Kruse, O ' Connor & Ling, discussed the cost
impact of the proposed pension plan revisions with the
Commissioners, presenting current actuarial study figures . He
also explained that changing the conservative actuarial
assumptions ( such as increasing the assumed 6% investment return
to a more realistic 8%) will decrease the cost .
None of the Commissioners saw a problem with including longevity
pay in the definition of earnings, but Mayor Bertino questioned
the advisability of lowering the retirement age to 55, feeling
that the City would lose valuable experienced and knowledgeable
employees . Vice Mayor Byrd expressed concern about the cost to
the City factor .
Commissioner Hirsch spoke in favor of the ordinance, expressing
his feeling that having the option to retire at 55 is a positive
incentive for good employees to remain with the City until
retirement age and that it was most unlikely that more than a
small percentage of employees eligible to retire would elect to do
so, but that those who did could be replaced by fresh new talents
T..,.! at entry level . He pointed out that the cost figures are on the
high side ( verified by Steve Palmquist ) being based on the premise
that 100% of employees eligible to retire at 55 will indeed take
advantage of the option .
Commissioner Cook stressed the need to be consistent with the
Police and Fire Pension Plan which offers retirement at 55,
expressing her opinion that the General Employees are the backbone
of City Government and are the City ' s best investment .
John Lassiter, Chairman of the General Employees Pension Board,
explained that the Plan was last revised in 1980, and expressed
the need for new assumption and benefit revisions as recommended
by the Pension Board .
Acting City Manager Mullikin noted that the General Employees '
participation of an additional 1% employee contribution would
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greatly reduce the City ' s cost .
After further exchange of viewpoints, the workshop meeting was
adjourned .
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CITY�DI R
1 Workshop Meeting 1 March 18, 1986
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AGENDA
DANIA CITY COMMISSION
WORKSHOP MEETING
MARCH 18, 1986
4:30 P.M.
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1 . Discussion of proposed ordinance amending General
Employees' Pension Plan.
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