unclassified
Meeting agenda 2026-04-28
May 4, 2026 · Lynn Haven, FL
📄
Source: Meeting agenda 2026-04-28
(HTML)
Retrieved May 4, 2026
from www.cityoflynnhaven.com ↗
Confidence:
99%
High
Summary
This ordinance amends the Police Officers' Retirement System by adding an ad-hoc supplemental benefit to be paid to each member who enters the DROP or retires on or after October 1, 2025. The benefit is funded by investment returns in excess of 7.5% net investment gain and is limited to an amount equivalent to the member's normal monthly benefit.
Details
- Subject
- Police Officers' Retirement System
- Summary
- This ordinance amends the Police Officers' Retirement System by adding an ad-hoc supplemental benefit to be paid to each member who enters the DROP or retires on or after October 1, 2025. The benefit is funded by investment returns in excess of 7.5% net investment gain and is limited to an amount equivalent to the member's normal monthly benefit.
- Action Type
- amend
- Vote Result
- passed
- Adoption Date
- 2026-04-28
- Enacting Body
- City Council
- Effective Date
- 2026-04-28
- Ordinance Number
- Ord. 1186