HomeMy WebLinkAboutR-25-0379City of Miami
Resolution R-25-0379
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17933 Final Action Date: 9/13/2025
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' RETIREMENT
TRUST ("GESE RETIREMENT TRUST FUND"), ATTACHED AND AS EXHIBIT
"A," IN THE AMOUNT OF THREE MILLION, THREE HUNDRED FORTY-FIVE
THOUSAND, EIGHTEEN AND 00/100 DOLLARS ($3,345,018.00), EXCLUDING
NORMAL COSTS, AS ACTUARIALLY DETERMINED, TO PROVIDE FOR THE
ADMINISTRATION OF THE GESE RETIREMENT TRUST FUND FOR THE
FISCAL YEAR COMMENCING OCTOBER 1, 2025, AND ENDING SEPTEMBER
30, 2026.
WHEREAS, Section 40-243 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' Retirement Trust Fund ("GESE Retirement Trust Fund");
and
WHEREAS an annual budget is required to properly administer the GESE Retirement
Trust Fund; and
WHEREAS the Trustees reviewed and approved the GESE Retirement Trust Fund
budget for Fiscal Year 2025-2026 on April 25, 2025; and
WHEREAS the Trustees request the approval of the GESE Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2025, and ending September 30, 2026, in
the amount of Three Million, Three Hundred Forty -Five Thousand, Eighteen and 00/100 Dollars
($3,345,018.00), excluding normal costs as actuarially determined;
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 2025-2026 budget, attached
and incorporated as Exhibit A, for the Fiscal Year commencing October 1, 2025, and ending
September 30, 2026, in the amount of Three Million, Three Hundred Forty -Five Thousand,
Eighteen and 00/100 Dollars ($3,345,018.00), excluding normal costs, as actuarially determined
to provide for the administration of the GESE Retirement Trust Fund, is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
City of Miami Page 1 of 2 File ID: 17933 (Revision:) Printed On: 9/17/2025
File ID: 17933
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
Enactment Number: R-25-0379
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.
City of Miami Page 2 of 2 File ID: 17933 (Revision:) Printed on: 9/17/2025