Council to vote on Police, Fire pension plan

Proposed changes to the pension plan, first read May 1, would be effective for employees hired after June 1. Minimum retirement age would be changed to 55 with 25 years of service and a 2.5 multiplier for pension payouts, compared to a 2.8 multiplier for current employees.

New employees also would contribute 8.5 percent of their pay to the pension plan. Current employees pay 11.35 percent.

Council also is scheduled to read an ordinance adopting a 2006-2007 city budget of about $236 million. The budget is for the city’s fiscal year starting July 1.

Council meets at 7 p.m. at City Hall, 830 Boonville Ave.