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HomeMy WebLinkAboutSubmittal-Draft Legislation (Version 2)Submitted Into the public record in connection with item''. 3 on 7//2 /2 Priscilk A. Thompson City Clerk 7.5.12 ..Title AN ORDINANCE OF THE MIAMI CITY COMMISSION AMENDING THE MIAMI FIRE FIGHTERS' RELIEF AND PENSION FUND ESTABLISHED BY ORDINANCE NO. 6432, ADOPTED SEPTEMBER 2, 1959, AS SUBSEQUENTLY AMENDED; IMPLEMENTING THE 2011 — 2012 COLLECTIVE BARGAINING AGREEMENT BETWEEN THE CITY AND 1AFF LOCAL 587; PROVIDING FOR THE TRANSFER OF CHAPTER 175 PREMIUM TAX REVENUES RECEIVED IN 2012 FROM THE FIRE FIGHTERS' RELIEF AND PENSION FUND TO THE MIAM1 FIREFIGHTERS' AND POLICE OFFICERS' RETIREMENT TRUST; CONTAINING A REPEALER PROVISION AND A SEVERABILITY CLAUSE, AND PROVIDING I.UR AN E1 FEC 1'1VE DATE. ..Body WHEREAS, the City of Miami entered into a collective bargaining agreement with the International Association of Firefighters, AFL-CIO, Local 587 for fiscal year 2011 — 2012; and WHEREAS, under the terms of the collective bargaining agreement the parties agreed to transfer certain premium tax revenues received by the City in 2012 pursuant to Chapter 175, Florida Statutes. from the Fire Fighters' Relief and Pension Fund to the Firefighters' and Police Officers' Retirement "Trust, to reduce the City's annual required contribution to the Firefighters' and Police Officers' Retirement Trust for the 2011-2012 plan year; and WHEREAS, to implement the transfer of premium tax revenues provided in the collective bargaining agreement, it is necessary to amend the Fire Fighters' Relief and Pension Fund; 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. The Miami Fire Fighters' Relief and Pension Fund established by Ordinance No. 6432, adopted September 2, 1959, as subsequently amended, is hereby amended to revise section Funding. to read as follows: Section 3 Funding (a) Contributions. The City shall contribute to the Fund each year an amount equal to the amount it receives under the .provisions of Chapter 175, Florida Statutes, as amended. The City shall make its contributions to the Fund as soon as possible but in no event later than five days of its receipt of such amount. The City shall not be required to levy any additional taxes on its residents to make any contributions to the Fund. Notwithstanding anything in this subsection (a) to the contrary, premium tax revenues received in calendar year 2012 in the amount of $4,938,318 shall be transferred from the Fund to the Firefighters' and Police Officers' Retirement Trust ("FIPO"), to reduce the City's annual required contribution to /2- 00715-Subniif0 j- gaff Le9;SIatiO/) FIPO for the 2011-12 plan year. Provided, if the actual amount of premium tax revenues received in 2012 is less than $5,088,318, then the actual amount received less the administrative cost of the Fund shall be transferred to FIPO to reduce the City's annual required contribution to FIPO for the 2011-12 plan year. The transfer of premium tax revenues provided in the preceding sentences shall occur within ten days following the date the premium tax revenues are received by the Fund, and in no event later than September 30, 2012. In the event the transfer of premium tax revenues provided above is not approved by the Florida Division of Retirement, the partie agree that employee contributions to FIPO shall be increased by a percentage of firefighter payroll that equals $4,938,138, and premium tax revenues equal to $4,938,138 shall be transferred from the Fund to FIPO and used to reduce the employee contribution back to the current level. Section 3. 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 4. This Ordinance shall become effective immediately after final reading and adoption thereof. ..Footnotes 11 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 unchanged. Asterisks indicate omitted and unchanged material. {2} This Ordinance shall become effective as specified herein unless vetoed by the Mayor within ten (10) 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. 2 'Submitted Into the public record in cOnnectiop With itemS R. on 7//2//2 Priscilw4 A. Thompson City Cleric.