HomeMy WebLinkAboutBack-Up - Draft AgreementInternal Revenue Service Department of the Treasury
Date: August 3, 2015 Person to Contact:
Ruth Y. Chen, ID#1000281409
Robert J. Friedman
701 Brickell Avenue, Suite 3300
Miami, Fl 33154
Dear Sir or Madam:
Contact Telephone Number:
(626) 927-1423
Refer Reply to:
Internal Revenue Service
TE/GE Group 7530
Fax # 855-224-1307
Enclosed is the draft of the closing agreement containing the terms and
requirements previously discussed with you. If you agree that the draft correctly reflects
our discussions, please contact the above agent at the telephone number indicated.
Copies will then be sent for your signature subject to compliance with terms stated
therein.
If you have any questions as to the draft, please contact the person whose naive
and telephone number are shown above to discuss.
Thank you for your cooperation.
Sincerely yours,
Ruth Y. Chen
Employee Plans Specialist
Enclosure:
Draft copy of the closing agreement
For City of Miami Firefighters' and Police Officer's
CLOSING AGREEMENT ON FINAL DETERMINATION
COVERING SPECIFIC MATTERS
Under section 7121 of the Internal Revenue Code (the Code), City of Miami
(the Employer), 1895 Southwest 3rd Avenue, Miami, FL 33129, EIN 59-6000375,
and the Commissioner of Internal Revenue make the follow a . closing
agreement (Agreement):
WHEREAS, City of Miami Firefighters' and Palle Retirement Trust
(the Plan) was established effective January 1, 1 and
WHEREAS, the Plan received a favorabl etermination left
2013, that considered the changes in the t ificati• � requiremen
2007 Cumulative List, Notice 2007-94; and
WHEREAS, the Employer su
intended to satisfy the requiremen
other related provisions of the 2012
itted the Plan
ection 401(
ve List,
WHEREAS, the Em.lo er submitt
r:
for Determination for " ': -e Benefit
WHEREAS,
Plans, Determination
was deter . :r t the
414(u)
Assi
E
rollovers
the Cod
44; and
Code
ce and Re ,f r
ecovery A
e require.
a . r.;:-•ulation
June 26,
by the
nuary 31, 2014, that was
of the Code and the
012-76; and
1
Application), Application
ary 31, 2014; and
view of thz`°°=:,,;,?. s iication by the TE/GE, Employee
e Inter Revenue Service (the Service), it
nded to comply with sections
e Code as amended by the Heroes Earnings
8 (HEART) and the Worker, Retiree, and
RERA) relating to nonspouse beneficiary
mpl nce dates in accordance with section 401(b) of
ereunder, section 5.05 of Revenue Procedure 2007-
WHEREAS, th *ervice proposed revoking the qualified status of the Plan
under section 401 a) of the Code retroactive to the Plan year beginning October
1, 2007, through the Plan year beginning October 1, 2014; and
WHEREAS, the Service determined that no additional correction was required
since the statue adopted on , is fully compliant with the provisions of
HEART and WRERA; and
Closing Agreement with City of Miami
Page 2 of 3
WHEREAS, the Employer certifies that no other corrective action is
necessary because no participants' rights or benefits have been adversely
affected by reason of failure to timely adopt the statutes to comply with HEART
and WRERA; and
WHEREAS, the Employer has determined that the Agreement, as set forth
herein, is in its best interests; and
WHEREAS, the Service, through its authorized represer, ,. tive, has
determined that said Agreement is also in its best interes
NOW IT IS HEREBY DETERMINED
purposes that:
1. The total amount due to theme
is ten thousand dollars ($10,000) I
United States Treasury contemporan
Agreement by the duly authorized rep
2. The Employ
recover any po
to receive any Feder
3. N
(a) c
em
employe
ensation to,
•rformer e
ormer em
4. The Se
the provisions o
yee
ee
attempt t
ent descri
n acco
States Tre
hall be pa
or Federal i' °'ome tax
under this Agreement
he Employer to the
Lion of this closing
Service.
or otherwise amortize, deduct, or
• paragraph 1 from the Service or
of such payment.
t described in paragraph 1 shall be considered as:
of any obligation or liability of, any
e Employer; or (b) taxable income to any
the Employer.
at the Plan as being timely amended to comply with
and WRERA outlined in this Agreement.
5. This Agree ent constitutes a resolution under the Code of specific matters
discussed herein. No inference shall be made with respect to whether this
resolution satisfies other Federal law including Title I of the Employee Retirement
Income Security Act of 1974.
Closing Agreement with City of Miami
Page 3 of 3
This Agreement is final and conclusive except:
(a) the matter it relates to may be reopened in the event of fraud,
malfeasance, or misrepresentation of material fact;
(b) it is subject to the Code sections that expressly provide that effect be
given to their provisions notwithstanding any other law or rule of law except
Code section 7122; and
(c) if it relates to any taxable period ending after the date of this Agreement,
it is subject to any law enacted after the Agreement date that applies to that
taxable period.
By signing, the above parties certify that they have R ;s and agreed to the
terms of this document.
CITY OF MIAMI
By:
Title:
COMMISSIONE
By:
ate t ned:
AL REVE ERVICE
Title Ma P Deter Y;ation Qualit Assurance Date Signed:
OPERATIONAL COMPLIANCE STATEMENT
The City of Miami Firefighters' and Police Officers' Retirement Trust
(the Plan) was operated in compliance with the provisions of the
Worker, Retiree, and Employer Recovery Act of 2008 (WRERA)
relating to nonspouse beneficiary rollovers for the period beginning
October 1, 2010, through ; and
The Plan was operated in compliance with sect
Code as amended by the Heroes Earnings
Act of 2008 (HEART) for the period beginni
through ; and
The Plan was operated in compli-.'
Code as amended by HEART for the
2009, through
Date
a)(37) of the
ce and Relief Tax
1, 2007,
ion 414(
ginning
of the
ctober 1,