HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #16367
Date: 07/12/2024
Commission Meeting Date: 09/07/2024
Type:
Subject:
Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Sponsored By:
District Impacted: N/A
Resolution
Approve Annual Budget FY '25 - GESE Trust Excess Benefit Plan
Purpose of Item:
To approve the budget for the City of Miami General Employees' & Sanitation
Employees' Excess Benefit Plan Budget for Fiscal Year 2024/2025, in the amount not to
exceed $113,649, excluding the actuarially determined annual benefit payment, to
provide for the administration of the GESE Excess Benefit Plan.
Background of Item:
Ordinance No. 10002, adopted on June 13, 1985, authorized the Board of Trustees to
administer the City of Miami General Employees' & Sanitation Employees' Retirement
Trust ("GESE Retirement Trust Fund"); and as such, a budget is required to properly
administer the GESE Retirement Trust Fund, and at the March 22, 2024, Board Meeting
the Board of Trustees approved this budget.
Budqet Impact Analysis
Item is NOT Related to Revenue
Item is an Expenditure
Total Fiscal Impact:
Total Fiscal Impact: $113,649
General Employees' and Sanitation
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
Reviewed B
Employees' Retirement Trust
08/13/2024 3:22 PM
Fred Pericles
Marie Gouin
Barbara Hernandez
Arthur Noriega V
Valentin J Alvarez
Xavier Alban
George K. Wysong III
Maricarmen Lopez
Mayor's Office
City Clerk's Office
City Clerk's Office
Edgard Hernandez Department Head
Budget Analyst Review
Budget Review
Assistance Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Signed by the Mayor
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
08/14/2024 12:14 PM
08/15/2024 4:39 PM
08/16/2024 1:12 PM
08/19/2024 11:00 AM
08/19/2024 4:46 PM
08/27/2024 3:55 PM
08/27/2024 4:16 PM
09/07/2024 10:00 AM
09/12/2024 2:54 PM
09/12/2024 3:34 PM
09/12/2024 3:34 PM
City of Miami
Legislation
Resolution
Enactment Number: R-24-0319
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16367 Final Action Date:9/7/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE CITY OF MIAMI
GENERAL EMPLOYEES' & SANITATION EMPLOYEES' EXCESS BENEFIT PLAN
("GESE EXCESS BENEFIT PLAN"), ATTACHED AND INCORPORATED AS EXHIBIT
"A", IN THE AMOUNT OF $113,649.00, TO PROVIDE FOR THE ADMINISTRATION
OF THE GESE EXCESS BENEFIT PLAN FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025.
WHEREAS, Sections 40-243 and 40-265 of the Code of the City of Miami, Florida, as
amended, authorizes the Board of Trustees ("Trustees") to administer the City of Miami General
Employees' and Sanitation Employees' Excess Benefit Plan ("GESE Excess Benefit Plan"); and
WHEREAS an annual budget is required to properly administer the GESE Excess
Benefit Plan; and
WHEREAS the Trustees reviewed and approved the GESE Excess Benefit Plan budget
for Fiscal Year 2024-2025 on March 22, 2024, and amended on May 31, 2024; and
WHEREAS the Trustees request the approval of the GESE Excess Benefit Plan budget
for the Fiscal Year commencing October 1, 2024, and ending September 30, 2025, in the
amount of $113,649.00;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as is fully set forth in this Section.
Section 2. The GESE Retirement Trust Fund Fiscal Year 2024-2025 budget, attached
and incorporated as Exhibit "A", for the Fiscal Year commencing October 1, 2024, and ending
September 30, 2025, in the amount of $113,649.00, to provide for the administration of the
GESE Excess Benefit Plan, is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
APPROVED AS TO FORM AND CORRECTNESS:
g III, C y`attor y / 8/27/2024