City of Pembroke Pines, FL - File #: 2026-05

• File #: 2026-05
• Version: 1
• Name: Proposed Ordinance: Retirement Income Plan for General Employees
• Type: Ordinance
• Status: First Reading
• File created: 7/22/2026
• In control: City Commission
• On agenda: 8/5/2026
• Title: MOTION TO PASS PROPOSED ORDINANCE NO. 2026-05 ON FIRST READING. PROPOSED ORDINANCE NO. 2026-05 IS AN ORDINANCE OF THE CITY OF PEMBROKE PINES, FLORIDA, AMENDING CHAPTER 38 OF THE CITY’S CODE OF ORDINANCES WHICH PROVIDES FOR THE RETIREMENT INCOME PLAN FOR GENERAL EMPLOYEES OF THE CITY OF PEMBROKE PINES TO COMPLETELY TERMINATE THE PLAN IN ACCORDANCE WITH THE PROVISIONS OF §38.070 OF THE CITY’S CODE; SPECIFICALLY AMENDING §38.002, ENTITLED “DEFINITIONS,” §38.005, ENTITLED “ACTIVE PARTICIPANTS,” §38.025 ENTITLED “BENEFITS,” § 38.031 ENTITLED “DEFERRED RETIREMENT OPTION PLAN,” §38.042 ENTITLED “DISABILITY BENEFITS,” §38.052 ENTITLED “OPTIONAL FORMS OF DISTRIBUTION,” §38.053 “ELECTION PROCEDURES,” AND §38.070 ENTITLED TERMINATION AND LIMITATION” FOR THE PURPOSES OF EFFECTUATING THE TERMINATION OF THE PLAN AS MORE FULLY PROVIDED FOR HEREIN; PROVIDING FOR CODIFICATION; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE
• Sponsors: Human Resources

Title

MOTION TO PASS PROPOSED ORDINANCE NO. 2026-05 ON FIRST READING.

PROPOSED ORDINANCE NO. 2026-05 IS AN ORDINANCE OF THE CITY OF PEMBROKE PINES, FLORIDA, AMENDING CHAPTER 38 OF THE CITY’S CODE OF ORDINANCES WHICH PROVIDES FOR THE RETIREMENT INCOME PLAN FOR GENERAL EMPLOYEES OF THE CITY OF PEMBROKE PINES TO COMPLETELY TERMINATE THE PLAN IN ACCORDANCE WITH THE PROVISIONS OF §38.070 OF THE CITY’S CODE; SPECIFICALLY AMENDING §38.002, ENTITLED “DEFINITIONS,” §38.005, ENTITLED “ACTIVE PARTICIPANTS,” §38.025 ENTITLED “BENEFITS,” § 38.031 ENTITLED “DEFERRED RETIREMENT OPTION PLAN,” §38.042 ENTITLED “DISABILITY BENEFITS,” §38.052 ENTITLED “OPTIONAL FORMS OF DISTRIBUTION,” §38.053 “ELECTION PROCEDURES,” AND §38.070 ENTITLED TERMINATION AND LIMITATION” FOR THE PURPOSES OF EFFECTUATING THE TERMINATION OF THE PLAN AS MORE FULLY PROVIDED FOR HEREIN; PROVIDING FOR CODIFICATION; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE

Summary Explanation and Background

SUMMARY EXPLANATION AND BACKGROUND:

1. The General Employee Pension Plan has been closed to new entrants for more than a decade, and most existing participants have not accrued additional service credit since 2010. As a result, the Plan has become a legacy benefit with a steadily declining active population and increasing administrative and financial inefficiencies

2. To address these conditions, the proposed ordinance formally closes the General Employee Pension Plan effective September 30, 2026. Upon closure, all remaining participants-including retirees, terminated-vested members, and other eligible beneficiaries-will be offered a structured set of Pension Risk Transfer (PRT) options. These options are designed to provide flexibility to participants while reducing long-term plan liabilities and administrative exposure for the City.

3. Participants will be permitted to elect one of the following options:

 A. Remain in the existing plan under current terms, with no ...