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The board unanimously recommended eliminating the pension plan’s annual distribution cap, pending an actuarial statement and City Council action. Staff said the cap change would not affect the plan’s long-term funding or create future city liabilities.
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The recommendation could allow more money to be distributed from the well-funded fire pension plan, but the change is not final. The board’s attorney and consultant will provide supporting documentation before the matter returns to the board and then goes to the City Council. Staff also said the City has until April 2028 to meet ADA web-content requirements.
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