11-03-09 Item Add-On 21
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF SOUTH MIAMI, FLORIDA, RELATING TO
BOARDS AND COMMITTEES; SUPPLEMENTING THE
PENSION AD HOC COMMITTEE ADOPTED BY RESOLUTION
NO. 180 -09- 12989, BY PROVIDING THAT THE COMMITTEE
MUST FURNISH ITS REPORT TO INCLUDE THE PROCESS
REQUIRED AND FEASIBILITY FOR THE CURRENT PENSION
PLAN TO BE REPLACED BY THE FLORIDA RETIREMENT
SYSTEM TO THE CITY COMMISSION WITHIN SIX MONTHS;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Commission desires to direct the Pension Ad Hoc Committee to
furnish its report within six months; and
WHEREAS, the Ad Hoc Committee shall include in the report to the Commission
the process required and feasibility for the current pension plan of South Miami to be
replaced by the Florida State Retirement System.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND THE
23 CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, AS
24 FOLLOWS:
25
26
27
28
29
30
31
Section 1. The City Commission hereby directs the Pension Ad Hoc
Committee to present its report to the Commission within the six -month period set forth
above, which report shall include the process required and feasibility for the current
pension plan of South Miami to be replaced by the Florida State Retirement System. This
report shall include appropriate alternatives for those employees who due to their many
years of service to the City, may not benefit from the Florida State Retirement System.
Alternatives for said employees shall include ways for them to opt out of the Florida
Page 1 of 2
I State Retirement System and choose a personal 401K type retirement plan more suitable
2 to their needs.
3
4
Section 2: This resolution shall take effect immediately upon approval.
5
PASSED and ADOPTED thisday of
, 2009
6
7
ATTEST:
APPROVED:
8
9
10
CITY CLERK
MAYOR
11
12
13
COMMISSION VOTE:
14
READ AND APPROVED AS TO FORM:
Mayor Feliu:
15
Vice Mayor Beasley:
16
Commissioner Palmer:
17
Commissioner Newman:
18
CITY ATTORNEY
Commissioner Sellars:
19
Page 2 of 2