Fort Walton Beach Ordinance — 2175--Amend COO Sec 2.09.03 Police Pension Benefits — reading text

Re: Ordinance Amending Police Pension Plan Dear Mr. Peters: I represent the Board of Trustees of your Fort Walton Beach Police Officers' Retirement Fund. Attached please find an Ordinance amending the pension plan for Members of the Police Officers' Retirement Fund which has been approved by the Board and is recommended for adoption by the City Council. The Plan is being amended to provide for changes to required minimum distributions which are the result of the SECURE 2. 0 Act passed by Congress at the end of 2022. Similar ordinances were previously adopted by the City for both the General Employees' and Firefighters' Retirement Funds. I am attaching a letter from the plan' s actuary, Foster & Foster, indicating that there is no cost associated with the adoption of this ordinance. If you or any member of your staff have any questions with regard to this ordinance, please feel free to give me a call. In addition, if you feel it would be appropriate for me to be present at the meeting at which this ordinance is considered by the City Council, please contact my office to advise me of the date that the ordinance would be considered. Respectfully, 2... 9' c.' 9f,-,, G.:,.... 4aAr, Sean M. Sendra, Esq. SMS/ dm E- copy: Joseph Griffin, Plan Actuary Siera Feketa, Plan Administrator Brandon Chapin, Trustee Jeff Peters, City Manager 7080 NORTHWEST 4TH STREET, PLANTATION, FLORIDA 33317 PHONE: ( 954) 916- 1202— FAX: ( 954) 916- 1232 www.klausnerkaufman. com