City Council: abril de 2026
City of West Melbourne
I. Employee Retirement Plans – Defined Benefit Plans
City Council listed this item on its agenda for 2026-04-21 in City of West Melbourne. The posted record gives the item title and nothing else, so there is no site, no size and no applicant on file for it yet. Local businesses that want to follow it can open the official agenda link above and watch for the fuller write-up the body posts as the meeting gets closer.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This item concerns the City of West Melbourne's participation in the Florida Retirement System (FRS) and the Retiree Health Insurance Subsidy (HIS) Program. These are state-administered plans that provide retirement income and health insurance cost assistance to eligible former city employees. The city's participation in FRS is optional for certain entities, and this agenda item is a continuation of a discussion about these plans. The discussion involves understanding employee contribution rates, which are 3.00% of salary, and employer contribution rates that vary by employee class. The employer contribution rates for the FRS Pension Plan range from 22.03% to 33.24%, and for the HIS Program, they are 2.00%. This item is currently under review as a continued discussion. The scope of work involves financial analysis and administrative review related to these retirement and subsidy programs. This opportunity is early in the public process, allowing for businesses specializing in financial consulting, actuarial services, and government administration support to engage with the city before final decisions are made.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This item concerns the City of West Melbourne's employee retirement plans, specifically defined benefit plans and the Police Officers' Pension Plan. The city has a payable of $40,306 related to the Florida Retirement System and HIS as of September 30, 2025. The Police Officers' Retirement Plan is a single-employer defined benefit plan administered by a five-member Board of Trustees. Its financial statements are included in the City's Annual Comprehensive Financial Report, with pension plan data coming from actuarial reports as of September 30, 2025. The plan uses the accrual basis of accounting, and investments are reported at fair value. Benefits are determined by City Ordinance and Florida Statutes, with provisions that cannot be reduced below statutory minimums. This item is under review as part of ongoing financial reporting and administration. The scope of work involves actuarial services, financial reporting, and potentially legal and administrative services related to plan management and compliance. Local businesses specializing in financial consulting, accounting, legal services, and administrative support could find opportunities by engaging with the city early in the process.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This agenda item concerns the ongoing review of employee retirement plans, specifically the Police Officers' Pension Plan for the City of West Melbourne. The plan provides retirement, death, and disability benefits based on years of service and age. Contribution requirements are determined annually, with a portion funded by the State and the remainder by employee and city contributions. The City's contributions for the year ended September 30, 2025, totaled $789,474, including state payments, while plan members contributed $265,344. The plan is administered by a Board of Trustees. This item is currently under review, indicating an early stage in the civic process. While no direct construction is outlined, the financial management and administration of such plans may involve professional services related to actuarial analysis, financial planning, and legal counsel. Businesses specializing in these areas could find opportunities by engaging with the city or the plan's administrators early in the review process.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This agenda item concerns the ongoing review of employee retirement plans for the City of West Melbourne, specifically the Police Officers' Pension Plan. The plan currently has 75 members, including active members, inactive members receiving benefits, and inactive members entitled to future benefits. The plan provides retirement, termination, disability, and death benefits based on age, years of service, and average final compensation. Details on normal retirement, early retirement, vesting schedules, disability provisions, pre-retirement death benefits, and cost of living adjustments are being reviewed. This item is under review by the City Council. The scope of work involves actuarial analysis, financial reporting, and potential adjustments to plan administration and benefits. This review could lead to opportunities for financial consultants, legal advisors specializing in pension law, and administrative support services. Engaging early in this review process allows businesses to understand the city's needs and potentially offer services before formal procurement begins.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This notice concerns the City of West Melbourne's Police Officers' Pension Plan, specifically the Deferred Retirement Option Program (DROP). This is a financial and actuarial review, not a construction project. The plan details eligibility, participation limits, and rates of return for members. As of September 30, 2025, the DROP balance was $0. The city's net pension liability was reported as a negative $956,735, with the plan's net position exceeding its total liability by 103.85%. Actuarial assumptions, including inflation, salary increases, and discount rates, were updated as of October 1, 2024. This item is currently under review as part of the city's financial reporting. No construction or direct contracting work is described, but entities involved in financial analysis, actuarial services, and legal counsel related to public employee retirement plans may be interested in this ongoing civic agenda item.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans – Defined Benefit Plans (Continued)
This item concerns the City of West Melbourne's Police Officers' Pension Plan. The city is reporting on pension expenses, deferred outflows, and deferred inflows of resources for the fiscal year ending September 30, 2025. The plan involves financial reporting and actuarial valuations. This is an ongoing financial review process. The work involves financial analysis, actuarial services, and reporting related to the pension plan's financial health and obligations. Local businesses specializing in financial consulting, accounting, and actuarial services may find opportunities to engage with the city on these matters. Early engagement could be beneficial as these financial reviews are a regular part of the city's operations.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
I. Employee Retirement Plans- Defined Benefit Plans (Continued)
This agenda item concerns the City of West Melbourne's employee retirement plans, specifically the Florida Retirement System (FRS) and Health Insurance Subsidy (HIS) program. The city's contractually required contributions for the year ending September 30, 2025, were $773,599 for FRS and $116,512 for HIS. The city reported net pension liabilities of $3,173,617 for FRS and $1,624,516 for HIS as of June 30, 2025. Pension expense for the same period was $425,606 for FRS and $84,891 for HIS. This item is currently under review as part of the city's financial statement notes. While no construction project is detailed, these financial figures relate to the city's ongoing obligations and financial management. Businesses involved in financial services, accounting, and legal services may find this information relevant for understanding the city's financial health and future planning.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
J. Pension Expense Summary
City Council listed this item on its agenda for 2026-04-21 in City of West Melbourne. The posted record gives the item title and nothing else, so there is no site, no size and no applicant on file for it yet. Local businesses that want to follow it can open the official agenda link above and watch for the fuller write-up the body posts as the meeting gets closer.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
K. Post-Employment Benefits Other than Pensions (OPEB)
The City of West Melbourne is reviewing its plan for post-employment benefits other than pensions (OPEB), specifically focusing on health care benefits for retirees. This plan is a single-employer benefit plan where retirees can participate in the city's group medical insurance plan. While retirees pay the full premium, the ability to access group rates is considered an economic benefit, creating an OPEB obligation for the City. The City currently funds this obligation on a pay-as-you-go basis, covering its portion of current year benefit costs. This item is currently under review by the City Council. The scope of work involves financial reporting and actuarial analysis related to these benefits. Future phases may involve adjustments to the funding policy or benefit provisions. Local businesses in financial consulting, accounting, and legal services may find opportunities related to the ongoing management and potential adjustments of this OPEB plan. Early engagement could provide insight into the City's needs as they manage this financial obligation.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
K. Post-Employment Benefits Other than Pensions (OPEB) (Continued)
This notice concerns the City of West Melbourne's review of its Other Post-Employment Benefits (OPEB) other than pensions. As of September 30, 2025, the city reported a total OPEB liability of $477,211. The plan currently covers 114 members, including 2 inactive members receiving benefits and 112 active plan members. The city is using actuarial assumptions including a 3.00% projected annual salary increase and a 4.90% discount rate. This item is currently under review as part of the city's financial reporting. The process involves actuarial valuations and financial reporting, with no construction or site work indicated at this time. Businesses specializing in financial consulting, actuarial services, and legal services related to public finance may find opportunities to engage with the city as this review progresses.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
K. Post-Employment Benefits Other than Pensions (OPEB) (Continued)
This item concerns the City of West Melbourne's Post-Employment Benefits Other than Pensions (OPEB) liability. The city is reviewing its OPEB liability, which was $477,211 as of September 30, 2025. The review includes analyzing how changes in discount rates and healthcare trend rates could affect this liability. This is an early stage of review, focused on financial planning and analysis. No construction or development work is described in this agenda item. Therefore, there are no direct contracting opportunities for trades, suppliers, or service providers at this time. Businesses involved in financial consulting or actuarial services may find this information relevant for understanding the city's financial landscape.
- Board:
- City Council
- Date:
- 2026-04-21
- Type:
- Agenda_item
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