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HomeMy WebLinkAboutOrdinanceCity of Miami Legislation Ordinance City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 04-00648 Final Action Date: 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 PLANS/ CITY OF MIAMI GENERAL EMPLOYEES' AND SANITATION EMPLOYEES' RETIREMENT TRUST TO PROVIDE PROCEDURES FOR THE EQUITABLE TRANSFER OF RETIREMENT PLAN MEMBERSHIPS BY ELIGIBLE EMPLOYEES; MORE PARTICULARLY BY AMENDING SECTION 40-250 OF THE CODE; CONTAINING A REPEALER PROVISION, AND PROVIDING A SEVERABILITY CLAUSE AND AN EFFECTIVE DATE. WHEREAS, the Miami City Commission has determined that the existing retirement code should be revised to ensure equitable participation in the City's retirement Plan by all City employees; 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. Section 2. Chapter 40, Article IV, Division 3 of the Code of the City of Miami, Florida, as amended, is further amended in the following particulars:{1} "CHAPTER 40" PERSONNEL Article IV. Pension and Retirement Plan Division 3. City of Miami General Employees' and Sanitation Employees' Retirement Trust Sec. 40-250. Right of certain persons to reject membership. Those persons employed in the following positions shall have the right to reject membership in the Plan within the later of one year from June 10, 2000, or within one City of Miami Page 1 of 4 File Id: 04-00648 (Version: 21 Printed On: 7/9/2024 File Number: 04-00648 year from their respective commencements of employment or appointment with the City, subject to performance of the conditions set forth in paragraphs (1) and (2) below, within the aforesaid time period: City manager, City attorney, City clerk, chief deputy City attorney, deputy City attorney, assistant City attorney, assistant City clerk, Auditor General and deputy Auditor General, and those employees identified by the City administration as employed in the executive service of the City. The conditions upon which membership in the Plan may be rejected by any person employed in any of the foregoing positions shall be as follows: (1) Submission to the commission of a written trust agreement wherein the employee rejects membership in the Plan and wherein provision is made for the City to contribute moneys on behalf of such employee to a public trust fund designated by the employee and approved by the commission, such contribution to be made in lieu of the City's contribution on behalf of the employee to the Plan. a. The contribution to be made by the City under the terms of the above agreement shall be calculated at the rate of eight percent of the individual's annual compensation. A contribution to the designated public trust fund must be made by the employee rejecting membership in the Plan, and such contribution by the employee shall be picked up by the City at a rate of not less than five percent of the employee's annual compensation. c. An employee may, if so provided in the trust agreement, take actual or constructive receipt of his or her contribution, and those contributions - made by the City on his or her behalf prior to reaching age 55 or upon becoming permanently and totally disabled by making a revocable election of distribution of accounts pursuant to the mode of distribution of benefits as provided in the trust agreement. d. The City manager may elect to participate in an public trust fund designated by the employee and approved by the City Commission. Contributions made to the designated public trust fund by the City shall be in accordance with the provisions of a resolution designating benefits for the City manager and approved by the City Commission. Contributions, if any, by the City manager shall be picked up by the City as provided by the provisions of a resolution approved by the City Commission. The City Manager may, if so provided in the trust agreement, take actual or constructive receipt of his or her contributions, and those contributions made by the City on his or her behalf prior to reaching age 55 or upon becoming permanently and totally disabled, by making a revocable election of distribution of accounts pursuant to the mode of distribution of benefits as provided in the trust agreement. e. The City Attorney, assistant City Managers, and assistants to the City Manager may elect to participate in a public trust fund designated by the City of Miami Page 2 of 4 File Id: 04-00648 (Version: 21 Printed On: 7/9/2024 File Number: 04-00648 employee and approved by the City Commission. Contributions shall be made to the designated public trust fund by the City at a rate of 20 percent of the City attorney's annual base salary, and eight percent of the annual base salary for each of the assistant City managers and assistants to the City manager. The City attorney, assistant City managers, and assistants to the City manager may, if so provided in the trust agreement, take actual or constructive receipt of his or her contributions, and those contributions made by the City on his or her behalf prior to reaching age 55 or disabled, by making a revocable election of distribution of accounts pursuant to the mode of distribution of benefits as provided in the trust agreement. (2) Upon rejecting membership in the Plan, employees in the foregoing positions as defined in this subsection (e), above, may not elect at a later date to transfer membership to the Plan, unless the election is the result of the loss of one of these positions. Should an eligible individual elect to reject membership in the Plan, all previous membership service in the Plan shall be deemed lost upon disbursement or transfer of the employee's member contributions from the Plan. Rejection of membership in the public trust fund, in favor of membership in the Plan, shall preclude employees in the foregoing positions from transferring membership to the public trust fund at a later date. (3) If an eligible employee fails to comply with all of the conditions set forth above, the employee shall not have the right to reject membership in the Plan. (4) Notwithstanding any other provisions of this Section, commencing on January 1, 2005, all employees who originally elected to reject membership in the City's retirement Plan shall, on the date of their tenth (10th) anniversary of employment with the City, have a period of ninety (90) days to elect whether to transfer membership to the City's retirement Plan. All eligible employees who have attained their tenth (10th) anniversary of employment with the City prior to January 1, 2005, and who do not participate in the retirement Plan, shall also have ninety (90) days from January 1, 2005, to elect to transfer membership to the City's retirement Plan. The City's actuary shall make a determination of the cost of each such transfer and shall, within the ninety (90) days transfer period, provide the City and the employee, at the employee's sole cost, with a determination of the amount that will be necessary for the employee to transfer membership to the retirement Plan in order to make the transfer equitable for the employee and the City. The provisions of this section shall also be applicable to those employees who purchase prior service in accordance with Section 40-254 below. The tenth (10th) year anniversary for such employees shall be determined by adding the years of service purchased to the years of service completed after such purchase. *11 City of Miami Page 3 of 4 File Id: 04-00648 (Version: 21 Printed On: 7/9/2024 File Number: 04-00648 Section 3. All ordinances or parts of ordinances that 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.{2} APPROVED AS TO FORM AND CORRECTNESS: JORGE L. FERNANDEZ CITY ATTORNEY Footnotes: {1 } 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. {2} 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. City of Miami Page 4 of 4 File Id: 04-00648 (Version: 21 Printed On: 7/9/2024