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Title:
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ORD-MC Regarding Chapt 120 (General Employees & Correction Officer Pension Plans & all Employees Defined Contribution Retirement Plans), Pt. II (The General Employees Retirement Plan), Ord. Code; Creating a New Sec. 120.216 (2021 Limited Retirement Option), Ord Code, to Provide a 6 Month Window for Early Retirement as Follows: (1) Normal Retirement at the Age of 60 w/5 Yrs Credited Svc; (2) Normal Retirement at the Age of 55 w/10Yrs Credited Svc; & (3) Early Retirement Upon Completion of 20 Yrs. of Credited Svc Regardless of Age;with a Reduced Benefit; Requiring Cons & Restrictions; Excluding JEA Employees from these Normal & Early Retiremnt Provisions; Providing for Codification Instructions; Requirement of Actuarial Report; Requiring Collective Bargaining Where Applicable. Providing an Exception to the Prerequisite that the Plan be at least 90 percent Actuarilly Funded. (Sawyer) (Introduced by CM Dennis) (Co-Sponsored by CM's Newby, R. Gaffney, Pittman, Cumber, Pr...
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Assigned Committees:
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FINANCE, NCSPHS, RULES, TEU
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