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� AGENDA ITEM SUMMARY FORM
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FILE ID: /0 - Dt® Dc)—
Date: 08/23/2010 Requesting Department: City Manager Law Department
Commission Meeting Date: 09/23/2010 District Impacted: ALL Matter ID No.
Type: ❑ Resolution X Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: An ordinance increasingfirefighter Irefighter contributions to the FIPO pension from nine percent to ten
percent and changing firefighters' calculation of average final compensation from one year to two years.
Purpose of Item:
Amends Chapter 40/Article IV/Division 2, of the code of the City of Miami to increase firefighters'
member contributions from nine percent to ten percent and changing firefighters' calculation of
average final compensation from one year to two years.
Background Information:
Article 43.11 (Pension Stabilization) of the 2007-2011 Collective Bargaining Agreement ("CBA")
between the City of Miami ("City") and International Association of Firefighters, Local 587 ("IAFF")
provides for a long term stabilization goal of 37 percent or less of pensionable payroll for the City's
general fund contribution to the FIPO Trust. If 37 percent goal is not met by September 30, 2010, the
CBA provides for a one percent increase in firefighters' member contributions, from nine percent to
ten percent, and for the calculation of average final compensation to be from one year to two years.
The actuaries for the City and FIPO Board determined that stabilization of the FIPO Trust is not
attainable as it relates to firefighters.
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using or receiving capital funds
Grants
Final Appr
(SIGN AND C
Budd
Risk
Purchasing Dept
Chief City
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