Agenda Date: 3/20/2018
Subject:
Title
A resolution requesting coverage under the FPPA Defined Benefit System for police officers for the City of Littleton
Body
Presented By:
Tiffany Hooten, Finance Director & Doug Stephens, Police Chief
REQUESTED COUNCIL ACTION:
Does city council approve the non-binding resolution to formally begin the partial re-entry process to the Fire and Police Pension Association (FPPA) Defined Benefit System for sworn Littleton Police Department (LPD) personnel?
BACKGROUND:
During a council study session on February 6, 2018, staff presented information related to the conversion of sworn personnel of the Littleton Police Department from the ICMA-RC Money Purchase Plan to the FPPA Defined Benefit System. At the conclusion of the study session, council directed staff to proceed with the first step of the process for partial re-entry of LPD sworn personnel into the FPPA Defined Benefit System.
This resolution is the first step in a process established by state statutes and the FPPA rules and regulations regarding the re-entry of active LPD sworn personnel, and new LPD sworn personnel hired on or after October 14, 2018 (Effective Date). As a partial re-entry into the FPPA plan, current LPD officers may elect to be covered under the FPPA Defined Benefit System, but new LPD officers hired on or after the effective date would be required to enroll in the FPPA's Statewide Defined Benefit Plan.
To implement re-entry effective October 14, 2018, the city council must approve this non-binding resolution establishing the city's intent to enter the FPPA Defined Benefit System. If this resolution is approved, staff will complete the list of steps necessary for re-entry, with the final step in the process being the completion of the Certification of Compliance (September, 2018). The Certification of Compliance makes the decision to re-enter the FPPA Defined Benefit System binding and irrevocable for future police officers and current officers ...
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