The City's negotiating team reached a tentative agreement with the West Central Florida Police Benevolent Association relating to a collective bargaining agreement on May 5, 2017. The collective bargaining agreement covers a three (3) year period of time spanning from October 1, 2015 through September 30, 2018.
In accordance with Section 447, Labor Organizations Part II, Public Employees, Florida Statutes, both negotiating teams agreed to recommend to their respective voting bodies that the agreement be approved as written. The PBA held a vote on May 7, 2017 and formally voted to approve the collective bargaining agreement. The purpose of this agenda item is to provide an outline of the financial impacts of the proposed agreement and to obtain your support of such.
Below is a summary of the financial impacts associated with the proposed collective bargaining agreement:
Wages:
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A wage adjustment in the amount of $25.00 per pay period will be paid to officers serving in the capacity of field training officer as designated by the Police Chief.
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An annual payment in the amount of $1,040.00 will be issued to officers whom are appointed by the Police Chief and trained to serve as a Traffic Homicide Investigator.
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Effective the first pay period after ratification of the agreement bargaining unit members will be placed at the step in the career ladder plan which is commensurate with their actual tenure with the Police Department.
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Bargaining unit employees that have achieved a topped-out status as it relates to wages would receive a one-time lump sum payment of an amount equal to three (3) percent of their current base pay.
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In the event that the city provides an annual cost-of-living adjustment to non-union members of the city staff it will similarly be provided to members of the union group.
Pension:
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Effective the beginning of the payroll cycle that succeeds the adoption of the collective bargaining agreement the employee contributions shall be 6.5% of salary to the pension fund.
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Under the benefit structure:
Average Final Compensation: shall be defined as (1/12) of the average annual salary of the 3 best years of the last 5 years of credited service.
Compensation: means total cash remuneration paid by the city for services rendered and includes overtime payments up to and not exceeding 300 hours. Salary does not include payments for accrued sick or annual leave.
Normal Retirement: a member's normal retirement date shall be the first day of the month coincident with or the next following the date he or she reaches age 52 and completes 10 years of credited service or the date he or she completes 23 years of service.
Normal Retirement Benefit: shall equal 3.25% of average final compensation for each year or part thereof of credited service accrued succeeding the date of the ratification of the collective bargaining agreement
Early Retirement: eligibility is based on the attainment of age fifty (50) and the completion of ten (10) years of credited service. Credited service and average final compensation shall be actuarially reduced to take into account the member's younger age and the earlier commencement of retirement income benefit payments not to exceed 3% for each year by which the member's age at retirement preceded the member's normal retirement age.
DROP Program: members entering the DROP program after the date of the Ordinance's amendment shall have a one-time irrevocable option of being credited with interest based upon the fixed rate of 1.5% or the Pension Plan's rate of return.
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All accumulated excess Chapter 185 premium tax funds held in reserve as of the effective date of the labor agreement shall be applied to reduce the City's annual required contribution to the Police Retirement Pension System.
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The total amount of future excess Chapter 185 premium tax revenues shall be applied to reduce the City's annual required contribution to the Police Retirement Pension System.
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A Defined Contribution Plan will be created by the city to implement the provisions of Section 185.35, Florida Statutes subject to the conditions as identified above.