I. Normal Retirement

June 12, 2026 Police Officers' Pension & Retirement · 2026-06-12 · agenda_item

This item concerns the Police Officers' Pension & Retirement plan for the City of Mount Dora. It outlines the eligibility requirements for normal retirement, including age and years of credited service. The benefit calculation is based on a percentage of Average Final Compensation (AFC) multiplied by credited service. The plan offers a '10 Years Certain and Life thereafter' as the normal form of benefit, with other options available. There is no Cost of Living Adjustment (COLA) included in this plan. This is a policy review item, not a construction project, and therefore does not directly create opportunities for contractors, trades, or suppliers in the construction sector. Local businesses should monitor future pension board actions for potential impacts or opportunities.