HomeMy WebLinkAboutR-2006-032 FRS (Elected Officials) RESOLUTION NO. 2006-032
A RESOLUTION OF THE CITY OF DANIA BEACH, FLORIDA
DESIGNATING ITS ELECTED POSITIONS FOR INCLUSION IN THE
ELECTED OFFICERS' 'CLASS OF THE FLORIDA RETIREMENT SYSTEM
TO BE APPLICABLE TO FUTURE ELECTED OFFICIALS; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS; the Florida State Legislature has provided the elected officials of the City of
Dania Beach, Florida the ability to be included in the Elected Officers' Class of the Florida
Retirement System; and
WHEREAS, the City Commission of the City of Dania Beach feels it is important to
provide this benefit to its future eligible elected officials in appreciation of their anticipated future
faithful service to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the City Commission of the City of Dania Beach, Florida designates all
of its future elected officials as eligible for inclusion in the Elected Officers' Class of the Florida
Retirement System.
Section.2. That all resolutions or parts of resolutions in conflict with this Resolution are
repealed to the extent of such conflict.
Section 3. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED and ADOPTED on February 14, 2006.
ANNE CASTRO
MAYOR—COMMISSIONER
ATTEST:
LOUISE STILSON, CMC
CITY CLERK
APPROVED AS TZFAND CORRECTNESS:
BY: i
THOMAS J. ANSBRO, CITY ATTORNEY
CITY OF DANIA BEACH
Agenda Item # �.
A
11-kV ll—
Agenda Request Item
Date of Commission Meeting: 2/14/2006
Adopt Resolution ❑X Adopt Ordinance (1st Reading) ❑ Adopt Ordinance (2nd Reading) ❑
Award Bid/RFP ❑ Presentation ❑ Continued from:
Requested)ACU n (Idenfity appro' lte Action&r Mobon s k r
'
Designate elected positions as Elected Officers' Class in the Florida Retirement System
Why Action is Necessary
The Commission approved on January 24, 2006 for the City to join FRS for all new general employees. If this resolution
is not adopted, future elected officials will automatically join the regular employee class and cannot be opted out of FRS.
What Acton Accomplishes s r` k af, zE ' ,
;!
Ability to Opt Out of FRS.
Purchasm Re nests ONLY
q g ts.
Dept: 1100 Mayor& Commissioners Acct#: Amt:
Fund: General: ❑ Water: ❑ Sewer: ❑ Stormwater: ❑ Grants: ❑ Capital:
❑
s
Summary Explanation/Backgrountl A
K P
Please see attached staff memo
f
Fiscal Impact/Cost Summary r._ yw.
Exttbits Attached u N
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Exhibit 1 Exhibit 2 Exhibit 3 Exhibit 4 Exhibit 5 Exhibit 6 Exhibit 7 Exhibit 8
•Authorized Signaturesx.
Submitted by
Patricia Varney Date 02/03/06
Department Director
Date
HR Director
Date
Finance Director
Patricia Varney Date 02/03/06
City Attorney
Thomas J. Ansbro Date
City Manager
Ivan Pato Date 02/08/06
.. E
C.
Clerk Use x
Commission Action:
Approved: ❑ Denied: ❑ Continued to: ❑
CITY OF DAN IA BEACH
F DEPARTMENT OF FINANCE
_ MEMORANDUM
TO: Ivan Pato, City Manager Memo: DF-06-07
FROM: Patricia Varney, Director of Finance
DATE: January 27, 2006
SUBJECT: FRS for Elected Official
According to FRS rules, all future elected officials, as well as Vice-Mayor Pat Flury, will automatically
become members of the FRS plan unless the following are achieved:
1. Adopt a resolution for elected officials to join the Elected Officers' Class which will provide
them options to opt out of the FRS plan. If not, Elected Officials will automatically fall into
the Regular General Employee Class and they cannot opt out.
2. The current contribution percentage to FRS for the Elected Officers' Class is 15.23%
compared to 7.83% of payroll in the Regular Employee Class.
3. Once the resolution is passed for the Elected Officers' Class, any newly elected
Commissioner, as well as Vice-Mayor Flury, have the following options:
a) Participate in the FRS pension plan which will require six years of service to be vested, or
• b) Participate in the FRS investment plan, which will require 1 year of service to be vested, or
c) Participate in the Senior Management Service Class which has a reduced benefit, and the
current employer's contribution rate is 10.45% of payroll, or
d) The future elected officials can totally withdraw from the FRS and receive no pension
benefits.
4. There are timelines that future Commissioners, as well as the Vice-Mayor, have to follow or
they will automatically become a member of the FRS Pension Plan:
a) To enroll in the Elected Officer's Class, the deadline for enrollment is the last business day
of the 5th month following the month they assume their elected office.
b) If they decide to enroll in the Senior Management Service Class, or decide not to
participate in the FRS, the form must be received by FRS no later than 4:00 p.m. of the 61h
month after assuming their elected office.