HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
Second Reading
File ID: #3910
Date: 04/05/2018
Commission Meeting Date: 07/26/2018
Type: Ordinance
Subject: Amend - Miami Fire Fighters'
Relief and Pension Fund
PURPOSE OF ITEM:
Requesting Department: Miami
Firefighters' Relief and Pension Fund
Sponsored By:
District Impacted: All
To approve an amendment to the code of ordinances governing the City of Miami
Firefighters Relief and Pension Fund ("Pension Fund") to include specific technical
language required by the Internal Revenue Service as a prerequisite condition of the
favorable determination letter issued by the IRS on May 22, 2017 maintaining the
Pension Fund's tax exemption as a "governmental plan" under Sec. 414(d) of the
Internal Revenue Code.
BACKGROUND INFORMATION:
The City of Miami Firefighters Relief and Pension Fund ("Relief and Pension Fund") is
governmental plan currently exempt from taxation. As a tax exempt entity the Relief and
Pension Fund receives favorable tax treatment which is critical to its continued viability
as a benefit for its participants and beneficiaries. The Relief and Pension Fund applied
for and ultimately received a "Favorable Tax Determination" verifying the Relief and
Pension Fund's tax exempt status issued by the IRS on May 22, 2017. The favorable
tax designation was expressly contingent on certain specific technical amendments
being made to the Relief and Pension Fund's governing City ordinance.
Budget Impact Analysis
Item has NO budget impact
Reviewed B
Miami Firefighters' Relief and Pension Fund
Review Completed 04/10/2018 4:19 PM
Office of Management and Budget Christopher M Rose
City Manager's Office
City Manager's Office
City Commission
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
City Commission
Fernando Casamayor
Nikolas Pascual
Nicole Ewan
Valentin J Alvarez
Barnaby L. Min
Victoria Mendez
Maricarmen Lopez
Nicole Ewan
Andrew McGarrell
Budget Analyst Review
Assistant City Manager Review
City Manager Review
Meeting
Legislative Division Review
Deputy City Attorney Review
Approved Form and Correctness
Meeting
Meeting
Department Head
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
05/09/2018 3:22 PM
05/14/2018 9:18 AM
05/14/2018 2:45 PM
05/24/2018 9:00 AM
06/01/2018 1:30 PM
06/14/2018 4:37 PM
06/15/2018 4:42 PM
06/28/2018 9:00 AM
07/26/2018 9:00 AM
City of Miami File ID: 3910 (Revision: A) Printed On: 4/1/2025
Office of the Mayor Mayor's Office Signed by the Mayor Completed 08/06/2018 3:59 PM
Office of the City Clerk City Clerk's Office Signed and Attested by the City Clerk Completed 08/06/2018 4:52 PM
Office of the City Clerk City Clerk's Office Rendered Completed 08/06/2018 4:52 PM
City of Miami File ID: 3910 (Revision: A) Printed On: 4/1/2025
City of Miami
Legislation
Ordinance
Enactment Number:13776
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 3910 Final Action Date: 7/26/2018
AN ORDINANCE OF THE MIAMI CITY COMMISSION, WITH
ATTACHMENT(S), AMENDING THE MIAMI FIRE FIGHTERS' RELIEF
AND PENSION FUND ESTABLISHED PURSUANT TO ORDINANCE NO.
6432 ADOPTED SEPTEMBER 2, 1959, AS SUBSEQUENTLY AMENDED,
TO ENSURE COMPLIANCE WITH APPLICABLE CHANGES REQUIRED
BY THE UNITED STATES INTERNAL REVENUE CODE, AS AMENDED,
AS PROVIDED IN EXHIBIT "A", ATTACHED AND INCORPORATED;
CONTAINING A SEVERABILITY CLAUSE; PROVIDING FOR AN
IMMEDIATE EFFECTIVE DATE.
WHEREAS, Ordinance No. 6432 adopted September 2, 1959 ("Original Ordinance")
created the Miami Fire Fighters' Relief and Pension Fund ("Fund"); and
WHEREAS, the Original Ordinance has been subsequently amended on several
occasions; and
WHEREAS, on May 22, 2017, the United States ("U.S.") Internal Revenue Service
issued a favorable determination letter to the Fund, which requires certain amendments
provided for in Exhibit "A," attached and incorporated herein; and
WHEREAS, the trustees of the Miami Firefighters' Relief and Pension Fund have
requested and approved such amendments as being in the best interests of the participants and
beneficiaries as well as improving the administration of the Fund; and
WHEREAS, as required by Section 112.63(3), Florida Statutes, the City of Miami
received, reviewed, and considered an actuarial impact statement describing the actual impact
of the amendments provided for herein; and
WHEREAS, the City Commission finds that it is necessary to amend the Original
Ordinance, as amended, to comply with changes required by the U.S. Internal Revenue Code
as set forth in Exhibit "A," attached and incorporated herein;
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 fully set forth in this Section.
Section 2. The plan for the Fund established pursuant to the Original Ordinance, as
subsequently amended, is hereby further amended as set forth in Exhibit "A," attached and
City of Miami File ID: 3910 (Revision: A) Printed On: 4/1/2025
incorporated herein,' to implement and comply with applicable changes required by the U.S.
Internal Revenue Code.
Section 3. If any section, part of a 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.2
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City Attor
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 (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.
City of Miami File ID: 3910 (Revision: A) Printed On: 4/1/2025