Change provisions relating to optional benefit forms under the Police Officers Retirement Act

Summary

It lets retiring officers choose between life annuities, partial or lump‑sum payments, and to defer payouts, while guaranteeing minimum benefits for long‑time officers hired since 1984. The city must cover any shortfall, and officers with very low benefits receive a lump‑sum settlement. The changes take effect Oct. 1, 2026.

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