HomeMy WebLinkAboutBack-Up from Law DeptSec. 40-243. - Board of trustees.
(a) Composition and selection.
(1) The sole and exclusive administration of and responsibility for the proper and effective
operation of this Plan is vested in a nine member board of trustees.
(2) The board of trustees shall be selected as follows:
a. One trustee shall be selected by the city manager, which trustee shall not be the mayor, a
city commissioner, the city manager, the city finance director, or an assistant finance
director.
b. Two trustees shall be selected by the general employees and their names submitted to
the city clerk. The trustee may be a present or retired member of the bargaining unit
represented by the General Employees' Union and shall be selected and serve according
to the constitution and bylaws of the General Employees' Union.
c. Two trustees shall be selected by the sanitation employees and their names submitted to
the city clerk. The trustees shall be present members of the bargaining unit represented
by Sanitation Employees' Union and shall be selected and serve according to the
constitution and bylaws of the Sanitation Employees' Union.
d. The remaining four trustees shall be selected by the city commission and may not be
employees of the city. Two of the trustees shall be selected from a list of six persons
submitted by the General Employees' Union according to its constitution and bylaws and
the other two trustees shall be selected from a list of six persons submitted by the
Sanitation Employees' Union according to its constitution and bylaws. The city commission
may, at the request of the General Employees' Union or the Sanitation Employees' Union,
accept a list consisting of one name for each position to be filled. The lists submitted to
the city commission shall not contain duplications. If a duplication occurs, the city
commission shall return both lists for resubmission.
e. The trustees appointed by the city shall have, at the minimum, the following
qualifications:
1. Be presently employed or self-employed on a full-time basis, or be retired from such;
2. Have resided in Miami (or its immediate environs) for the past five years;
3. Be able to attend board meetings if scheduled well enough in advance and agree to
resign from the board if meeting attendance is less than 75 percent in a one-year
period; however, the provisions of this subsection shall not apply to those individuals
who are members of city boards and who are (1) reservists in the United States Armed
Forces or members of the Florida National Guard, and have been ordered to active
military duty for national, state, or homeland defense and due to such duty cannot
attend board meetings, or (2) employees of agencies whose services are considered essential for national,
state, or homeland defense and due to such services cannot attend board meetings.
4. Have been involved in, within the last five years, and be knowledgeable about
employee pension or similar fringe benefits;
5. Have knowledge of, be familiar with, and have had exposure to labor/management
relations;
6. Have knowledge of and be familiar with business principles;
7. Have not been, within the past five years, a public employee union representative, nor
a representative of management for the city;
8. Not be actively involved in nor aspire to be actively involved in city, county, or state
politics.
(b) Term of office.
(1) The term of office for each trustee shall be two years.
(2) There shall be no limit to the number of terms a trustee may serve.
(3) A trustee shall take an oath of office administered by the city clerk within ten days after
selection.
(4) A trustee shall serve until a successor trustee is appointed and administered the oath of
office.
(c) Fiduciary responsibility. The board of trustees shall be deemed the named fiduciary of the Plan
and shall discharge its responsibilities solely in the interest of the members and beneficiaries of
the Plan for the exclusive purpose of providing benefits to the members and their beneficiaries
and to defray the reasonable expenses of the Plan. The trustees shall exercise those fiduciary
responsibilities with the care, skill, prudence and diligence under the circumstances then
prevailing that a prudent person acting in a like capacity and familiar with such matters would use
in the conduct of an enterprise of a similar character and with similar aims.
(d) Compensation. Trustees who are employees of the city shall be granted leave with full pay and
benefits while functioning as a trustee during their normal working hours. Service on the board
shall not be considered as "time worked" for the purposes of overtime liability under the Fair
Labor Standards Act. This shall include attendance at board meetings, workshops, board
approved educational conferences and board approved travel. Employee trustees shall not
otherwise be paid for their services as trustees. The nonemployee trustees shall be compensated
at any given time in the same manner as are members of the city's civil service board.
(e) Meetings; voting; quorum; officers.
(1)
The board shall meet at least once every two months following appropriate public notice and shall meet
and conduct the business of the Plan in accordance with Chapter 286, Florida Statutes.
(2) Each trustee shall be entitled to one vote. Five concurring votes shall be necessary for a
decision by the board. Five trustees shall constitute a quorum for the purpose of meeting and
transacting business. A lesser number of trustees may be appointed as a committee to
perform tasks on behalf of the board. All committee meetings shall be subject to the notice
and meeting requirements of Chapter 286, Florida Statutes.
(3) The board shall elect, every two years, a trustee as chairperson and a trustee as vice
chairperson of the board.
(f) Vacancies; removal.
(1) If a vacancy occurs due to resignation, death, or removal, the vacancy shall be filled for the
unexpired term of the departing trustee in accordance with the provisions of this section for
selection of the trustee who has vacated the office.
(2) The board may remove a trustee prior to completion of his or her designated term of office
for proper cause only, which cause shall be stated in writing. No trustee shall be removed
pursuant to this section except upon proper notice and hearing. The board shall prescribe
uniform rules for the conduct of such hearings. Proper cause shall mean a trustee's failure to
satisfactorily discharge his or her fiduciary responsibility, including, but not limited to, failure
to attend 75 percent of the meetings of the board in a one-year period. For the purposes of
removal only, six concurring votes shall be necessary.
(Ord. No. 12111, § 1, 9-25-01; Ord. No. 12201, § 1, 3-14-02)
Sec. 40-265. - Excess benefit plan.
(a) The excess retirement benefits above the limits permitted by the Internal Revenue Code shall be
as follows:
(1) Funded from the City of Miami General Fund; and
(2) Paid annually concurrently with the city's annual contribution to normal pension costs, which
shall cause the city to realize a reduction in normal pension costs in the same amount; and
(3) Be deposited in separate accounts for each respective plan to receive the city's excess
retirement benefit contributions, which accounts shall be separate and apart from the
accounts established to receive the city's normal pension contributions for each retirement
trust;
(b) The board of trustees for General Employees' and Sanitation Employees' (GESE) is appointed as
the committee to administer the Excess Benefit for the GESE retirees.
(c) The actuaries for the GESE Board of Trustees shall calculate the amounts necessary to fund the
defined benefit plans giving effect to the reductions caused by implementation of Section 415 of
the Internal Revenue Code.
(d) The excess benefits shall be paid to each eligible member of the Plans on a monthly basis in an
amount equal to the difference between the allowable pension to be paid under the Internal
Revenue Code and the amount of the defined benefit granted eligible members pursuant to the
provisions set forth in the Code.
(e) Should additional retirements occur during the year where the eligible member's retirement
benefit exceeds the Section 415 limits, the GESE Board of Trustees shall calculate the additional
excess benefit amount required for the remainder of the fiscal year and should such amount
exceed the amount available from the funds provided for the fiscal year, the GESE board of
trustees shall notify the city of the additional funds required.
(f) Upon the city's receipt of notice of the additional funds required, the city shall forward the
additional funds required. The requirement for additional funds paid by the city to fund the
Excess Benefit Plan shall be reflected as a reduction in the city's annual contribution of normal
pension costs for the following year.
(Ord. No. 12111, § 1, 9-25-01)