2011-09-07 Police Fund Special MeetingOn
Okeechobee Police Pension Meeting
September 7, 2011 Special Meeting
Dennis Davis -Present
Bettye Taylor -present
Russ Cale -Present
Bill Bartlett -absent
Meeting called to Order by Chairman Davis.
Reviewed Memorandum received from Attorney Scott Christiansen reference requested Ordinance
in last meeting.
After careful review and discussion the following recommendations were made to be submitted by
Board to Scott Christiansen to prepare Ordinance.
1. Recommend that the City run a calculation of all sick and vacation time that each member of
the pension plan has accrued as of the applicable effective date. Anyone who retires onor after
the effective date and who receives lump sum payments of sick and vacation time which would
otherwise be included for pension purposes as "salary" under the current definition, may
receive pension credit for such sums, subject to the following considerations.
a. The accrued time would be figured Last in- First Out of both sick and vacation time.
2. Board recommended that the value of the lump sum of sick and vacation time to be include in
pension purposes at the time of retirement will be valued at the hourly rate earned at the time
of retirement.
3. Board recommended that the 300 hour of limitation on overtime be based on a calendar year.
Bettye Taylor -Secretary