HomeMy WebLinkAboutAgenda Item Summary Formy� AGENDA ITEM SUMMARY FORM
' pApif° ' File ID: #7728
Date: 08/03/2020 Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Commission Meeting Date: 09/10/2020 Sponsored By:
District Impacted: All
Type: Resolution
Subject: Approve Annual Budget FY '21 - GESE Trust Excess Benefit Plan
Purpose of Item:
To approve the budget for the City of Miami General Employees' & Sanitation
Employees' Excess Benefit Plan Budget for Fiscal Year 2020/2021, in the amount not to
exceed $110,903, excluding the actuarially determined annual benefit payment, to
provide for the administration of the GESE Excess Benefit Plan.
Background of Item:
Ordinance No. 10002, adopted on June 13, 1985, authorized the Board of Trustees to
administer the City of Miami General Employees' & Sanitation Employees' Retirement
Trust (GESE Retirement Trust Fund"); and as such, a budget is required to properly
administer the GESE Retirement Trust Fund, and at the May 29, 2020, The Board of
Trustees approved this budget.
Budget Impact Analysis
Item has NO budget impact
Item is an Expenditure
Total Fiscal Impact:
110 903
Reviewed By
General Employees' and Sanitation Employees' Retirement Trust
Review Completed
08/12/2020 10:49 AM
Office of Management and Budget
Fred Pericles
Office of Management and Budget
Christopher M Rose
City Manager's Office
Fernando Casamayor
City Manager's Office
Arthur Noriega V
Legislative Division
Valentin J Alvarez
Office of the City Attorney
Barnaby L. Min
Office of the City Attorney
Victoria Mendez
City Commission
Nicole Ewan
Office of the Mayor
Mayor's Office
Office of the City Clerk
City Clerk's Office
Office of the City Clerk
City Clerk's Office
Edgard Hernandez Department Head
Budget Analyst Review
Completed
08/20/2020 4:28 PM
Budget Review
Completed
08/25/2020 6:02 AM
Assistant City Manager Review
Completed
08/25/2020 11:30 AM
City Manager Review
Completed
08/25/2020 1:29 PM
Legislative Division Review
Completed
08/25/2020 2:31 PM
Deputy City Attorney Review
Completed
08/25/2020 3:10 PM
Approved Form and Correctness
Completed
08/27/2020 10:20 AM
Meeting
Completed
09/10/2020 5:05 PM
Unsigned by the Mayor
Completed
09/11/2020 7:17 PM
Signed and Attested by the City Clerk
Completed
09/11/2020 7:33 PM
Rendered
Completed
09/11/2020 7:33 PM
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Resolution
www.miamigov.com
Enactment Number: R-20-0278
File Number: 7728
Final Action Date:9/10/2020
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE CITY OF MIAMI
GENERAL EMPLOYEES' & SANITATION EMPLOYEES' EXCESS BENEFIT PLAN
("GESE EXCESS BENEFIT PLAN"), ATTACHED AND INCORPORATED AS
COMPOSITE EXHIBIT "A", IN THE AMOUNT OF $110,903.00 TO PROVIDE FOR THE
ADMINISTRATION OF THE GESE EXCESS BENEFIT PLAN FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2020 AND ENDING SEPTEMBER 30, 2021.
WHEREAS, Sections 40-243 and 40-265 of the Code of the City of Miami, Florida, as
amended, authorize the Board of Trustees ("Trustees") to administer the City of Miami General
Employees' and Sanitation Employees' Excess Benefit Plan ("GESE Excess Benefit Plan"); and
WHEREAS, an annual budget is required to properly administer the GESE Excess
Benefit Plan; and
WHEREAS, the Trustees reviewed and approved the GESE Excess Benefit Plan's
budget for Fiscal Year 2020-2021 on May 29, 2020 in the amount of $110,903.00, attached and
incorporated as Composite Exhibit "A", and
WHEREAS, the Trustees request the approval of the GESE Excess Benefit Plan's
budget for Fiscal Year 2020-2021 in the amount of $110,903.00, attached and incorporate as
Composite Exhibit "A";
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as is fully set forth in this Section.
Section 2. The GESE Excess Benefit Plan's budget, attached and incorporated as
Composite Exhibit "A", for Fiscal Year 2020-2021 in the amount of $110,903.00 to provide for
the administration of the GESE Excess Benefit Plan is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
APPROVED AS TO FORM AND CORRECTNESS:
Vf t6ria-Vrd6z, City Attor iey 8/27/2020