HomeMy WebLinkAboutO-12185J-02-091
01/23/02 121 g 5
ORDINANCE N0.
AN ORDINANCE OF THE MIAMI CITY COMMISSION
AMENDING CHAPTER 40/ARTICLE IV/DIVISION 3
OF THE CODE OF THE CITY OF MIAMI, FLORIDA,
AS AMENDED, ENTITLED "PERSONNEL/PENSION AND
RETIREMENT PLAN/CITY OF MIAMI GENERAL
EMPLOYEES' AND SANITATION EMPLOYEES'
RETIREMENT TRUST", BY RENUMBERING THE
RETIREMENT OPTIONAL ALLOWANCES FOR
IDENTIFICATION PURPOSES; MORE PARTICULARLY
BY AMENDING SECTION 40-255; CONTAINING A
REPEALER PROVISION AND A SEVERABILITY
CLAUSE; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the Board of Trustees for the City of Miami
General Employees' and Sanitation Employees' Retirement Trust
recommends an amendment to Section 40-255 of the Code of the
City of Miami, Florida, relating to General Employees' and
Sanitation Employees' retirement to renumber the retirement
optional allowances for identification purposes;
NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Ordinance are adopted by reference and
incorporated as if fully set forth in this Section.
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Section 2. Chapter 40, Articles IV, Division 3, of the
Code of the City of Miami, Florida, as amended, is further
amended in the following particulars:l/
"Chapter 40
PERSONNEL
ARTICLE IV. PENSION AND RETIREMENT PLAN
DIVISION 3. CITY OF MIAMI GENERAL EMPLOYEES' AND
SANITATION EMPLOYEES' RETIREMENT TRUST
Sec. 40-255. Benefits.
(i) Optional allowances.
(1) A member may receive payment of retirement
benefits under the Plan in accordance with
the options set forth in this section. The
Board, by rule, shall prescribe the method
for selecting payment options consistent
with the provisions of this Section.
(2) The options permitted under the Plan are:
Option -12: Equal payment survivor annuity.
A member may receive a reduced retirement
allowance throughout his or her life with an
equal sum being paid to the member's
Words and/or figures stricken through shall be deleted. Underscored
words and/or figures shall be added. The remaining provisions are now
in effect and remain unchanged. Asterisks indicate omitted and
unchanged material.
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12185
designated beneficiary at the death of the
member. If this option is chosen for a
surviving spouse, the reduction shall be ten
percent (10%) of the member's benefit. If
any person other than a surviving spouse is
chosen as the beneficiary, the reduction
shall be based on the actuarially equivalent
SUM.
Option -23: One-half payment survivor
option. A member may receive a reduced
retirement allowance payable for the life of
the member with one-half of the member's
benefit being paid to a designated
beneficiary at the death of the member. If
this option is chosen for a surviving
spouse, the reduction shall be two percent
(2%) of the member's benefit. If any person
other than a surviving spouse is chosen as
the beneficiary, the reduction shall be
based on the actuarially equivalent sum.
Option -36a: A member may, in lieu of any
other benefit from this Plan, receive a
return of contributions, excluding amounts
picked up from the member's earnable
compensation and credited to the COLA fund
between June 23, 1985 and September 30,
1993. Under this option, the member shall
also receive a monthly service allowance
equal to one-half (') of the amount to which
the member would have been entitled under
this Plan. This option has no survivorship
benefit.
Option -46b: Life annuity. A member may
receive the normal monthly service
retirement allowance plus an additional five
(5) percent payable for the life of the
member, with no survivorship benefit. The
payment of this benefit shall be guaranteed
for at least one (1) year.
Option 36c: Surviving spouse annuity. A
member may receive an unreduced retirement
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payment through the life of the member and
upon the member's death the surviving spouse
shall receive forty percent (400) of the
member's retirement allowance payable during
the lifetime of the spouse. A member who
desires to leave a greater survivorship
percentage to a surviving spouse may elect
Options 2 or 3.
Section 3. All ordinances or parts of ordinances
insofar as they are inconsistent or in conflict with the
provisions of this Ordinance are repealed.
Section 4. If any section, part of section, paragraph,
clause, phrase or word of this Ordinance is declared invalid,
the remaining provisions of this Ordinance shall not be
affected.
Section 5. This Ordinance shall become effective thirty
(30) days after final reading and adoption thereof.��'
PASSED ON FIRST READING BY TITLE ONLY this 24th day
of January , 2002.
zi This Ordinance shall become effective as specified herein unless vetoed
by the Mayor within ten days from the date it was passed and adopted.
If the Mayor vetoes this Ordinance, it shall become effective
immediately upon override of the veto by the City Commission or upon
the effective date stated herein, whichever is later.
Page 4 of 5
PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE
ONLY this 14th day of February , 2002.
ATTEST:
�
/WA4ER J. Oy
CffY CLERK
APPROVAS O FOR CORRECTNESS:%
NDR-0 VILARELLO
ATTORNEY
W1202:tr:LB:BSS
MANUEL A. DIAZ MAYOR
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SECOND READING
ORDINANCE
7
TO: ,The Honorable Mayor and DATE : FILE
Members of the City Commission SAN 14 2u02
SUBJECT: Ordinance Amending
Section 40-255 of the
City of Miami Code
FROM: CarloS A. enez REFERENCES:
City Manager ENCLOSURES:
RECOMMENDATION
The City Administration recommends the City Commission approve the attached
Ordinance amending Section 40-255 relating to the City of Miami General Emplcyees'
and Sanitation Employees' Trust (GESE) by renumbering the optional allowances under
this section for purposes of clarification.
BACKGROUND
In September 2001, the City Commission approved Emergency Ordinance No. 12111
substantially revising the retirement code (Sections 40-241 through 264) to modernize the
language, eliminate internal inconsistencies, eliminate obsolete language, and ensure
continued compliance with the provisions of the Internal Revenue Code.
Subsequently, the City Administration has received a request from the Board of Trustees
of the GESE Trust requesting that certain previously renumbered optional allowances
under Section 40-255 be returned to their former identifying numbers. Specifically, the
requeted changes to the optional allowance numbers are as follows:
Option 1:
change to Option 2
Option 2:
change to Option 3
Option 3:
change to Option 6A
Option 4:
change to Option 6B
Option 5:
change to Option 6C
The amendment to Section 40-255, as requested by the GESE Trust, will avoid
inconsistencies with retirees who previously selected one of the available options.
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