cc: Darlene Galambos, City Clerk

City Commission Meeting · 2026-04-13 · agenda_item

The City of St. Augustine is reviewing changes to its Police Officers Retirement System. This involves establishing a new retirement system and fund for police officers, which will replace the existing system. The proposed changes detail how benefits are calculated based on years of service and average final salary, as well as definitions for terms like "accrued benefit" and "creditable service." This item is currently under review by the City Commission. The process involves defining actuarial assumptions and potentially amending the system's structure. This early stage may present opportunities for consultants and service providers specializing in actuarial services, legal counsel related to public employee retirement systems, and financial planning for municipal entities. Engaging now could allow businesses to offer expertise before final plans and permits are established.