Attached is the city ordinance for the general employees’ pension plan. Please go to page (5) article 10 and read the NEW language.
Keep in mind the City declared financial urgency in 2011, and reduced pay and benefits for two years, AND on September 11, 2011 coerced the Hollywood citizens to vote against the employees in order to drastically reduce the pension benefits of members who over the years made monetary concessions during the collective bargaining process.
Remember the public pre-referendum campaign headed by the City Manager/CSR to mislead the voters with skewed benefit facts paid for with the money they took from your pocket?
Or did you forget the misleading referendum ballot drafted by the City?
Remember the City Commission (currently the fab 4) indicated they had no other choice or option but financial urgency until the State Audit evidenced otherwise indicating the City had not exhausted all of its financial options?
Did you forget the several million dollars paid to the outside law firm to fight the organizations representing the employees which were also paid with dollars taken from you?
Well back to the attachment. Now the City who took pension benefits has drafted new pension language which seems finely tuned for a specific class of individuals. These must be very special employees as they only pay their contribution of 8% and an additional 4% fee for the PAST credited service. The other 88% cost to the plan goes on to the unfunded liability side of the balance sheet.
The punch line is this clause only affects one person, one employee, our City attorney Jeffrey Sheffel.
Most of all don’t forget to BARF when you hear the new motto ARK.
P.S. How is the third string holding up in the game? I hear the score differential is razor-thin.
See the ordinance here – http://bcpba.org/pdf/City-Ordinance.pdf