HomeMy WebLinkAboutR-20-0277City of Miami
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Legislation
Resolution: R-20-0277
File Number: 7727
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
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' AND SANITATION EMPLOYEES'
RETIREMENT TRUST ("GESE RETIREMENT TRUST FUND"), ATTACHED
AND INCORPORATED AS COMPOSITE EXHIBIT "A", IN THE AMOUNT OF
$3,068,775, EXCLUDING NORMAL COSTS OF $54,121,724 AS ACTUARIALLY
DETERMINED, TO PROVIDE FOR THE ADMINISTRATION OF THE GESE
RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2020 AND ENDING SEPTEMBER 30, 2021.
WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended,
authorizes the Board of Trustees ("Trustees") to administer the City of Miami General
Employees' and Sanitation Employees' Retirement Trust Fund ("GESE Retirement Trust Fund");
and
WHEREAS, an annual budget is required to properly administer the GESE Retirement
Trust Fund; and
WHEREAS, the Trustees reviewed and approved the GESE Retirement Trust Fund
budget for Fiscal Year 2020-2021 on May 29, 2020 and July 24, 2020, as set forth in Composite
Exhibit "A," attached and incorporated; and
WHEREAS, the Trustees request the approval of the GESE Retirement Trust Fund
budget for Fiscal Year 2020-2021 in the amount of $3,068,775, excluding normal costs of
$54,121,724 as actuarially determined, as set forth in Composite Exhibit "A," attached and
incorporated;
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 Retirement Trust Fund Fiscal Year 2020-2021 budget, attached
and incorporated as Composite Exhibit "A", in the amount of $3,068,775, excluding normal costs
of $54,121,724 as actuarially determined, to provide for the administration of the GESE
Retirement Trust Fund is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
City of Miami Page 1 of 2 File ID: 7727 (Revision:) Printed On: 111212020
File ID: 7727
Enactment Number: R-20-0277
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
+rey
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' 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.
City of Miami Page 2 of 2 File ID: 7727 (Revision:) Printed on: 111212020