Florala finalizes pension plan

Published 12:00 am Tuesday, October 29, 2013

The Florala City Council unanimously approved the city’s first retirement and profit sharing plan for full-time city employees during Monday night’s regular meeting.

City Clerk Kathy Rathel said the retirement plan’s approval means the program has been backdated to have become effective Oct. 1 and allows the city to pay three percent of a full-time employee’s gross wages into a retirement plan each year.

Rathel said, since the plan was approved in October, it will only be paid for the last quarter of 2013, and will become effective on a full, yearly basis in 2014.

Rathel also said employees are free to pursue other options, if they are so inclined.

“They can still open other accounts and pay into them,” she said. “But this is something the city will do annually for all full-time employees.”
In other business, the council:

• approved the acceptance of a bid of $97, 934.65 from Allan Vigil Ford for three 2014 Ford Police Inceptor sedans.

• approved the rescheduling of the Mon., Nov. 11, 2013, council meeting until Tue., Nov. 12, 2013, due to the Veterans Day holiday. The newly scheduled meeting will be held at the normal 6:30 p.m. meeting time.