HomeMy WebLinkAboutItem #08 - First Reading Ordinances-93-269
S/13/93
ORDINANCE NO.
AN ORDINANCE AMENDING THE CODE OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED, BY AMENDING
ARTICLE IV OF CHAPTER 40, ENTITLED "PENSION
AND RETIREMENT PLANS, DIVISION 3. CITY OF
MIAMI GENERAL EMPLOYEES' AND SANITATION
EMPLOYEES' RETIREMENT TRUST", THEREBYs (1)
PROVIDING FOR COMPLIANCE WITH THE INTERNAL
REVENUE WITHHOLDING GUIDELINES, AS ENACTED BY
THE CONGRESS OF THE UNITED STATES OF AMERICA
PURSUANT TO UNEMPLOYMENT COMPENSATION
AMENDMENTS OF 19921 AND (2) PROVIDING FOR
COST OF LIVING ALLOWANCES (COLA); MORE
PARTICULARLY BY AMENDING SECTIONS 40-239(I)
AND 40-240(A); CONTAINING A REPEALER
PROVISION, A SEVERABILITY CLAUSE, AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Congress of the United States of America has
enacted legislation whi requires cer qualified pension
plans, such as the City of Mi a al Employees' and
Sanitation Emp y s' Retiremen r�s , to provide recipients of
certain distr do to el direct transfer to another
qualified p an or RA a:ion;
o nt as
withho din an curre to / and
WHEREAS, the General Employees'
an alternative to the
and Sanitation Employees'
Retirement Trust is desirous of complying with Internal Revenue
Service's requirement; and
WHEREAS, the City Commission has an obligation to the
citizens of Miami and its employees to ensure that the Board of