Public Hearing to receive comments from citizens regarding a proposed Ordinance amending Title 28, “The Municipal Employees' Retirement Plan,” amending Chapter 1, “Introduction and Definitions,” Section 101, to clarify definition of actuarially determined employer contribution, remove optional employee contributions, clarify interest calculations, define full time employee, adjust final average earning to exclude months with less than 3/4 earnings, and clarify the final average earnings calculation process; amending Chapter 2, “Participation,” Sections 200-202, to clarify participation commencement and reinstatement of participation; amending Chapter 3, “Contributions,” Sections 300-301, to freeze employer contributions at no less than 17 percent until the plan's funded ratio reaches 100 percent, with provisions to increase contributions if funding falls below 100 percent, remove optional employee contribution, clarify timing for participant contributions; amending Chapter 4, “Eligibility for Vesting,” Section 402, to add a mandatory cash-out provision for small amounts held by non-vested terminated participants; amending Chapter 5, “Measurement of Years of Credited Service,” Sections 500, 503-504, to update in accordance with the updated definition of final average earnings and align with leave of absence personnel policies and to update reemployment after termination provision to take into account mandatory cash outs; amending Chapter 6, “Eligibility for and Calculation of Various Types of Retirement Income,” Sections 601-603, to clarify current practice and policy for non-contributing time periods and participants; remove supplemental retirement income from optional employee contributions, clarify application of Rule of 80 and Rule of 90 for vested deferred participants, and to clarify that optional forms of benefits are not limited to joint and survivor options; amending Chapter 7, “Normal Forms of Retirement Income,” Sections 700-710, to remove guaranteed period income, clarify effective date and application of joint and survivor income options, clarify retirement benefit conditions apply to all forms of benefits not just optional forms, update level income option to include all social security normal retirement age elections, update withdrawal of contributions by vested deferred participants to align sick leave accrual with personnel policies, clarify method to redetermine benefits, and change small payment threshold; amending Chapter 8, “Death Benefits,” Sections 800-802, to include references to alternate payees, Rule of 80, Rule of 90, and change default beneficiary to spouse with the estate of the deceased participant as contingent beneficiary; amending Chapter 9, “Maximum Benefits and Contributions,” Sections 900-901, to adjust benefit limits to meet IRC Requirements; amending Chapter 10, “Administration of Plan, ”Sections 1001 and 1003, to remove obsolete references to Rules and Regulations Manual; amending Chapter 13, “Miscellaneous,” Section 1300, changing title to Adjustments and Offsets for Misstatements, Errors, and Legal Judgments and adding language and addressing process for handling misinformation, errors, judgments and settlements; amending Title 28 to include renaming, renumbering, non-substantive adjustments for alignment, and corrections of scrivener's errors, without altering the intent or meaning; directing that the procedures for amending Chapter 3 as explained in Chapter 3, Section 302 of said Title 28 be fully complied with. (Emergency Clause) (Required Press Conference held 2/6/25) (Public Hearings: 2/26/25; 3/5/25) [UED 3/5/25; CC 3/5/25; CC 3/12/25]