Summary
To: Mayor and Commissioners
From: Christine Torok, Town Clerk
Date: 11/1/2017
______________________________________________________________________
Subject:
Title
Ordinance 516
Summary:
Ordinance 516 pertains to the Town of Belleair Municipal Police Officers’ Retirement Plan. This ordinance amends the definition of “Salary” in accordance with Chapter 2011-216, Laws of Florida. Section 42-151, Conditions of Eligibility, is being amended to limit those individuals eligible to opt-out of the system, to comply with IRC Treasury Regulation requirements.
These changes more correctly clarify the amendment made in Ordinance 507 to now reflect the requirements of the Treasury Regulations.
End
Body
Previous Commission Action: None
Background/Problem Discussion: None
Expenditure Challenges None
Financial Implications: None
Recommendation: Approval of Ordinance 516
Proposed Motion Move to approve Ordinance 516 on First Reading