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Cavanaugh Macdonald
CONSULTING,LLC
The ('.Xpei•lence and dedication you deserve
February 17, 2017
Mr. Edgard Hernandez
Administrator
Miami General Employees' and Sanitation Employees'
Retirement Trust
2901 Bridgeport Avenue
Coconut Grove, FL 33133
Actuarial Impact Statement IRS Changes
Dear Edgard:
As requested, we have reviewed the proposed Ordinance attached to your email dated February
16, 2017 amending the City of Miami General Employees' and Sanitation Employees' Retirement
Trust (GESE plan) for compliance with the Internal Revenue Code (IRC) pursuant of the IRS
favorable determination letter. The proposed amendments to the GESE plan are to comply with
the IRC requirements in connection with the qualified status of the plan. We believe the proposed
amendments will have no impact on the actuarial cost of the GESE plan.
Please let us know if you have any questions.
Sincerely,
Jose I. Fernandez, ASA, EA, FCA, MAAA
Principal and Consulting Actuary
Enrolled Actuary No. 14-446I
S 120I T.Miami GESE\Correspandencell mpact statement IRS changes,docx
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