The request is to conduct a first reading of a proposed ordinance which relates to certain pension benefits in regard to the Firefighters’ Retirement System. 

The purpose of the proposed ordinance is to effectuate changes to reflect certain changes to the Internal Revenue Code (IRC) and its associated regulations as well as recent litigation and a typographical error.

The ordinance prescribes the following amendments to the pension plan:

1. Section 17-38, Board of Trustees, this section is being amended to change the term of office to four-years for the two resident trustees appointed by City Council, unless sooner replaced by the City Council (the current term for resident trustees is two years).   The two firefighter trustees elected by plan members and the fifth trustee, who is selected by the other four trustees, currently serve four year terms.  The proposed change would make the terms of resident trustees the same as the firefighter and fifth member trustees. 

2. Section 17-43, Disability, is being amended to more clearly identify those individuals who may be eligible to apply for a disability pension in the event that they have resigned or their employment is terminated.  The ordinance provides that a member who is terminated for medical reasons may apply for disability benefits within 30 days following termination, but adds a more comprehensive provision on eligibility for disability benefits.

3. Section 17-43(b)(3) Firefighter Cancer Presumption, is being amended to provide for a cancer presumption for firefighters diagnosed after July 1, 2019.

4. Section 17-50, Maximum Pension, this section is being amended to correct a typographical error.

5. Section 17-50.2, Miscellaneous Provisions, this section adds a new subsection concerning missing benefit recipients. 

6. Section 17-50.17, Deferred Retirement Option Plan, this change amends the deferred retirement option plan (DROP) to remove a subsection concerning the prevention of escheat.  Under state law, unclaimed retirement benefits are subject to recovery by the State Treasury pursuant to Chapter 716, Florida Statutes.  This change is based on the fact that the language proposed for removal is unenforceable under the state escheat statutes.