Submitted By: Todd Swanson
Presentation By: Janice Mitchell
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Department: Finance
FORMAL TITLE:
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Ordinance 2026-21 amending Chapter 43, Article V, Code of Ordinances, City of Ocala, Florida (Police Officers' Retirement System), to conform to the 2025-2028 Collective Bargaining Agreement Between the City of Ocala and the Fraternal Order of Police
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OCALA'S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The City of Ocala and the Florida State Fraternal Order of Police Lodge #129 successfully negotiated and executed a Collective Bargaining Agreement effective October 1, 2025, through September 30, 2028. As part of those negotiations, the parties agreed to several modifications to the Police Officers' Retirement System.
The negotiated pension changes were implemented administratively beginning October 1, 2025, consistent with the terms of the Collective Bargaining Agreement. However, several provisions require amendments to Chapter 43, Article V of the City Code to incorporate the agreed-upon changes into the governing ordinance formally.
The proposed ordinance amends the Police Officers' Retirement System to:
? Increase employee pension contributions from 8 percent to 9 percent of salary.
? Establish a 5 percent contribution requirement for members entering the Deferred Retirement Option Plan (DROP) on or after October 1, 2025.
? Create a cost-of-living adjustment (COLA) fund for eligible future retirees.
? Revise the allocation of Chapter 185 premium tax revenues.
? Modify supplemental benefit provisions.
? Establish revised DROP interest crediting provisions for members entering DROP on or after October 1, 2025.
? Provide transitional provisions for current members and retirees.
These amendments are intended to codify the pension provisions negotiated through collective bargaining and align the City Code with current retirement plan administration.
FINDINGS AND CONCLUSIONS:
The proposed ordinanc...
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