HomeMy WebLinkAboutO-2001-006 ORDINANCE NO. 2001-006
AN ORDINANCE OF THE CITY OF DANIA BEACH,
FLORIDA, AMENDING THE CODE OF ORDINANCES
RELATING TO RETIREMENT DATES, PROVIDING
THAT MEMBERS MAY RETIRE ON ATTAINING AGE
FIFTY-FIVE (55) AND COMPLETING TEN (10) YEARS OR
ATTAINING AGE FIFTY (50) AND COMPLETING
TWENTY-FIVE (25) YEARS OF CREDITED SERVICE;
PROVIDING FOR A SAVINGS CLAUSE; PROVIDING FOR
A REPEALER; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the City currently provides a retirement age of fifty-five with ten years of
credited service for General Employees, and
WHEREAS, the City Commission is desirous of enhancing upward mobility of its
current work force by providing an incentive to long term employees to retiree, and
WHEREAS, the City Commission has received and reviewed the actuarial impact
statement concerning the cost impact of this ordinance amendment prepared by the Retirement!
Plan's actuary, and
WHEREAS, the proposed ordinance amendment has been approved and recommended'
by the Retirement Plan Board of Trustees;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA,AS FOLLOWS:
Section 1. Sec. 18-29.2 of the Dania Beach Code is hereby amended by the
underlined language as follows:
Sec. 18-29.2. Retirement dates and benefit.
(a) Normal retirement date. A member may retire on the first day of the month
coincident with or next following that date on which such member attains age sixty (60) and
® completes ten (10) years of credited service; provided, however, any member of the prior plan on
RESOULTION NO. 2001-006
• the amended plan effective date who is age fifty-eight(58) or older on such date may retire at age
sixty (60) or older regardless of his length of credited service. Commencing on April 8, 1986,
each member's normal retirement date shall be the first day of the month coincident with or next
following the later of the member's fifty-fifth birthday or the date he completes ten (10) years of
credited service as an employee or eight (8) years of credited services as an elected public
official. This provision shall not apply to any member whose employment termination date
precedes April 8, 1986. Commencing on October 1, 2000, each member's normal retirement
date shall be the first day of the month coincident with or next following the date on which the
member attains either age fifty-five (55) and ten (10) years of credited service or attains age fifty
(50) and completes twenty-five (25) years of credited service as an employee. This provision
shall not apply to any member whose employment termination date precedes October 1, 2000.
Section 2. Sec. 18-29.4(a) of the Dania Beach Code is hereby amended by the
st-rislron *ugh and underlined language as follows:
Sec. 18-29.4. Termination benefits.
(a) Subject to the provisions in subsection (b) below as respects members with
five (5) years' credited service under the prior plan, all rights to benefits under this plan
shall cease upon a member's termination of employment, other than by reason of early,
normal, or delayed retirement (at which time members are one hundred per cent (100%)
isvested); however, all members shall acquire a vested right to their accrued benefits
pursuant to the following vesting schedule:
Vesting Schedule
Completed years of credited Cumulative vested nonforfeitable
service with the city interest in the accrued benefit
Less than 10 0%
10 or more 100%
Provided, any member not eligible for an early, normal or delayed retirement benefit but who has
a vested interest at time of termination shall receive such benefit commencing at h c 'tea
normal retirement date, which shall be age fifty-five (55) for members who have less than
twenty-five years of credited service as an employee and age fifty (50) for members who have
twenty-five (25) or more years of credited service as an employee; provided, however, a member
may elect to receive hisa deferred benefit upon attaining age fifty (50), or any date thereafter, the
benefit in such case to be actuarially reduce as for early retirement. Provided further, in lieu of
all other benefits under this amended plan, a terminated member whether or not vested, may elect
to receive in a lump sum immediately on termination of employment payment of an amount
equal to his accumulated contributions.
® 2
. Section 3. That all sections or parts of sections of the Code of Ordinances, all
ordinances or parts of ordinances, all charter sections or parts of sections, and all resolutions or
parts of resolutions in conflict herewith, be and the same are hereby repealed to the extent of
such conflict.
Section 4. If any word, phrase, clause, subsection, or section of this ordinance is for
any reason held unconstitutional or invalid, the invalidity thereof shall not effect the validity of
any remaining portions of this ordinance.
Section 5. This ordinance shall take effect on adoption.
PASSED AND ADOPTED on first reading this 6' day of February, 2001
PASSED AND ADOPTED on second and final reading this 271h day of February, 2001.
• _.MAYO J - CO ISSIONER
ATTEST:
ROLL CALL:
�S 'ERYL HAPMAN MAYOR McELYEA—YES
ACTING CITY CLERK VICE-MAYOR BERTINO—YES
COMMISSIONER CALI—YES
COMMISSIONER ETLING—YES
COMMISSIONER MIKES —YES
APPROVED AS TO FORM AND CORRECTNESS
By: ,
CITY TTORNEY
DNGE.NRAreduction[12/18/00] RESOULTION NO:2001-006
® 3
SUGARMAW& SUSS-KIND
PROFESSIONALASSOCIATIO N
ATTORNEYS AT LAW
Robert A.Sugarman 2801 Ponce De Leon Boulevard
Howard S.Susskind Suite 750
David E.Robinson Coral Gables,Florida 33134
Kenneth R_Harrison,Sr_ (305)529-2801
D.Marcus Braswell,Jr. Broward 763-2566
Toll Free 1-800-329-2122
Fax(305)-AA7-81 15
December 20, 2000
Board of Trustees
City of Dania Beach General Employees'Retirement System
c/o Marie labalee, Administrator
100 West Dania Beach B-oulevard
Dania Beach, Florida 33004
Re; City of Dania Beach General Employees'_Retiremenl,System
Ordinance Amendment Normal Retirement
Dear Trustees:
Enclosed please find a revised ordinance amendment providing for retirement at age
fifty-five (55) upon completing ten years (10) of credited service or at age fifty (50) upon
® completing twenty-five (25).years of credited service- Please note that the concerns of the
actuary have been incorporated in this revised amendment so that any deferred retirement would
only occur upon age fifty-five (55) unless the parxicipanthad actually completed twenty-five (25)
years of service with the city.
By copy of this letter we are forwarding to the board actuary a roquest for an actuarial
impact statement. Additionally, by separate letter we are forwarding a copy of this revised
ordinance to the attorney for the city for appropriate counsel action.
Should you have any further questions of this matter, please do not hesitate to contact us
directly.
Yours truly,
SON, SR.
KRH/id
Enclosure
• cc: I Stephen Palmquist, Actuary
Alison Bieler, Esq.
IKE-
GABRIEL, ROEDER, SMITH & COMPANY
Consultants&Actuaries
301 East Las Olas Blvd.•Suite 200•Ft.Lauderdale,FL 33301 •954-527-1616•FAX 954-525-0083
November 16, 2000
Ms. Marie Jabalee
Finance Director
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, Florida 33004
Dear Marie:
Enclosed is our Actuarial Impact Statement pertaining to the proposed change in normal
• retirement date. The Statement must be filed with the Division of Retirement before the final
public hearing.
Please have a trustee sign the Statement. Then send the Statement along with a copy of the
ordinance to the Division.
We welcome your questions and comments.
Sincerely yours,
J. Stephen Palmquist
JSP/or
Enclosures
cc: Ken Harrison
I','M11
GABRIEL, ROEDER, SMITH & COMPANY
Consultants&Actuaries
301 East Las Olas Blvd.•Suite 200•Ft.Lauderdale,FL 33301 •954-527-1616.FAX 954-525-0083
November 16, 2000
Mr. Charles Slavin, Actuary
Bureau of Local Retirement Systems
Division of Retirement
Cedars Executive Center, Bldg. C
2639 North Monroe Street
Tallahassee, Florida 32399-1560
Re: Actuarial Impact Statement for the Dania Beach
Retirement Plan for General Employees
Dear Mr. Slavin:
• Please review the enclosed ordinance which would permit normal retirement at age 50 with 25
years of service. The enclosed tables indicate that this change would raise the required employer
contribution by 1.82% of payroll from (0.80)% to 1.02%.
This determination is based on the same participant information, asset values, and actuarial
assumptions and methods that were used in the October 1, 1999 Actuarial Valuation Report.
In our opinion, the proposed changes are in compliance with Part VII, Chapter 112, Florida
Statutes and Section 14, Article X of the State Constitution.
Respectfully submitted,
By
For the Board of Trustees
i By
Step en Palmquist, AS , MAAA, FCA
Enrolled Actuary No. 99-1560
® SUM MARY:OF VALUATION RESULTS
AS OF OCTOBER 1, 1999
Before After
Change Change
COVERED GROUP
A. Number Included in the Valuation
1. Active Members 69 69
2. Inactive Members 21 21
B. Covered Annual Payroll $ 2,203,724 $ 2,203,724
LONG RANGE COST
C. Actuarial Present Value of Projected Benefits 11,204,976 11,241,587
D. Actuarial Value of Assets 8,060,310 8,060,310
E. Actuarial Present Value of Future Contributions
1. Total: C—D 3,144,666 3,181,277
2. Portion Assigned to Unfunded Frozen
Actuarial Accrued Liability(UFAAL) 0 0
• 3. Portion Assigned to Future Normal Costs 3,144,666 3,181,277
CURRENT ANNUAL COST
F. Annual Payment Needed to Amortize UFAAL 0 0
As % of B --% —%
G. Annual Employer Normal Cost (15,595) 19,885
As % of B (0.71)% 0.90%
H. Interest on.F and G from Valuation Date to
Contribution Date(s) (2,065) 2,633
As % of B (0.09)% 0.12%
1. Required Employer/State Contribution: F + G + H (17,660) 22,518
As % of B (0.80)% 1.02%
J. Year to Which Contributions Apply
1. Plan Year Ending 9/30/2000 9/30/2000
2. Employer Fiscal Year Ending 9/30/2001 9/30/2001
3. Assumed Date(s) of Employer Contributions Quarterly Quarterly
DERIVATION OF EMPLOYER NORMAL COST
AS OF OCTOBER 1, 1999
Before After
Change Change
A. Actuarial Present Value of Projected
Benefits for
1. Active Members
a. Service Retirement Benefits $ 7,650,943 $ 7,798,651
b. Vesting Benefits 441,657 441,657
c. Disability Benefits 615,065 530,718
d. Preretirement Death Benefits 169,060 142,825
e. Return of Member Contributions 154,716 154,201
f. Other 0 0
g. Total 9,031,441 9,068,052
2. Inactive Members
a. Service Retirees & Beneficiaries 2,028,785 2,028,785
b. Disability Retirees 130,621 130,621
c. Terminated Vested Members 14 129 14,129
• d. Total 2,173,535 2,173,535
3. Total for All Members 11,204,976 11,241,587
B. Actuarial Value of Assets 8,060,310 8,060,310
C. Unfunded Frozen Actuarial Accrued
Liability(UFAAL) 0 0
D. Actuarial Present Value of Projected Member
Contributions 3,512,709 3,257,787
E. Actuarial Present Value of Projected
Employer Normal Costs: A3 - B - C—D (368,043) (76,510)
F. Actuarial Present Value of Projected
Covered Payroll 17,794,900 16,503,500
G. Employer Normal Cost Rate: 100 x E/F (2.07)% (0.46)%
H. Annual Payroll of Active Members 2,203,724 2,203,724
I. Assumed Amount of Administrative Expenses 30,022 30,022
J. Employer Normal Cost: (G x H) + 1 (15,595) 19,885
MI
SUN - SENTINEL
PUBLISHED DAILY BEFORE ITyOMMISSIONCIATY OF DgN�gEq H`
FORT LAUDERDALE, BROWARD COUNTY, FL INGPROPOSEo ORDINANCESION O !`TH EF,OLLOW'
BOCA RATON, PALM BEACH COUNTY, FLO NO..T.ICE SHEREBY,GIVENihattheCitgYcommissiomof
therCny orn or._a Beach Florida;owFebrua�27;?200,1;
head wilinco as soon:{hereafter as'the'ma ter n`e, ,
MIAMI, MIAMI DADS COUNTY, FLORIDA conduct's public h'eanngg 1n:t, City.,Co 8
mtssion'roorh'ofahe'Dania Beach City-Hall, t00.:West
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sider the proposed adoption of the following Ordinanc
es entitledAN,
STATE OF FLORIDA FLORIDANAMENDINGTTHECCODE O DORMNANCES�
COUNTY OF BROWARD/PALM BEACH/MIAMI DARE THATTMEMB RS MAY RETIRE,DA AfA-PRNG-PROVIDING
BEFORE THE UNDERSIGNED AUTHORITY, PERSONALLY APPEARS[FIFTY-'FIVE,155i AND COMPLETING-.TEN(.iOiEYEARS
TWENTY-FIVE MG(25G•YEARS�OF-OREDITED SPPERVICE
PROVIDING,FORA SAVINGS'CLAUSE PROVIDING
�UCL WHO, ON OATH, SAYS THAT FORA REPEALER;AND PROVIDING FOR AN EFFEC
TI.V E-DATE
HE/SHE IS A DULY AUTHORIZED REPRESENTATIVE OF THE CLASSIF AN ORDINANCE-of-rHe cirY'OFMDANIAt3EA'cH'
DEPARTMENT OF THE SUN-SENTINEL, DAILY NEWSPAPER PUBLISH CODE OI ORDINANCES WHICH CHAP ER THE-CITY
S NITI
IN BROWARD/PALM BEACH/MIAMI DADS COUNTY, FLORIDA, AND THTLED WATER AND SEWERS';.AMENDING ARTICLE II
ENTITLED",WATER.SHORTA6E•EMERGENCIES -PTO'
ATTACHED COPY OF ADVERTISEMENT, BEING A: COMPLY WITH`THE WATER SHORTAGE PLAN;OF
THE,SOUTH FLORIDA WATER'-MANAGEMENT<blsz`I
EENCE'FURHERPRDGFORANEFFCS AA T OVI INOTICE TIVEzDATE N RS
CITYO,OFIDAN AE EACHE FLOR DAMM NDING OHAPE
TER 22 ; THE CITY CtiDE OF ORDINANCES TO:.ES-
IN THE MATTER OF: TABLISH REGULATIONS ONCERNING'rTHE-.USE`:OF
PUBLIC RIGHTS OF WAY :FOR',:COMMUNICATI AS
FACILITIES .PROVIDING{aDEF.INITIONS PROVIDING
FOR,EGI$ AND PERMIT+P{iOCEDURES;
Retirement dates T ATION+'
MAIIFRONTENANCE ODF�C MMUN CATIONS FE;;L,"EE
IN RIGHTS NIFI °ikPROVIDING§iFOR�INSURANCE
IN THE CIRCUIT COURT,WAS PUBLISHED IN SAID NEWSPAPER IN FORVIOLATION IPROIVOIDING FORICONFLICTS PRO
ISSUES OF: VIDING FOR SE�ERABILITY P.ROVIDING:F,OR INCLU"
SION-IN THE CITY CODE dNDiPROVIDING FOR.`AN`
EFFECTIVE'DATE t iQi;}iq .�"t �j yyA
2/15,1 D 10253856 IF.LOR DA NUPDAT NG VARIOUS`OODEAPROVIS ONH�
TO:CONPORM TO CURRENT PRACTICES':AND;PRO-'
CEDURES,OBSERVED,ZY-THEiCITX`cFIELATING;TO
AFFIANT FURTHER SAYS THAT THE SAID SUN-SENTINEL IS A NEMING�Bu DINGS EgNORpLANNING IANDSOEWELOP=
PUBLISHED IN SAID BROWARD/PALM BEACH/MIAMI DADS COUNTY TRANS
DEPARTMENT 1 USRESPONSIBILITIES'ANO VI-
AND THAT THE SAID NEWSPAPER HAS HERETOFORE BEEN CONTIISION`TO:ANOTHERI IVIsION-'OR-BOTf4,:-SUBJECT
TO"CERTAIN-,,CiRCUMSTANCt`S; AMENDING VARf-
PUBLISHED IN SAID BROWARD/PALM BEACH/MIAMI DADE COUNTY OUS.PROVIStoNs w:cHAPTRS of THE AMENDING
:VADE
OF-,ORDINANCES:;WHICH CHAPTER'AS'ENTITLED
• EACH DAY,AND HAS BEEN ENTERED AS SECOND CLASS MATTER "BUILDINGS sCHdPTER.11 WHICH CHAPTERdS:EN-
TITLED FIRE >,PROTECTIdN,rAND PREVENTION",
POST OFFICE IN FORT LAUDERDALE,•IN SAID BROWARD COUNTY, CHAPTER r13,;-'WHICH CHAPTER IS +•ENTITLED
FOR A PERIOD OF ONE YEAR NEXT PRECEDING THE FIRST PUBLI HEALTH AND SANITATION -CHAPTER-14::WHICH
CHAP.TER.IS ENTITLEDdJUNR AND'ABANDO}JED:VE-
ATTACHED COPY OF ADVERTISEMENT;AND AFFIANT FURTHER S HICLES CHAP.TER-15-.WHICH.CHAPTER IS ENTITLED
LICENSES 'CHAPTEEI:.19 WHICH CHAPTER IS ENTI-
HE/SHE HAS NEITHER PAID, NOR PROMISED,ANY PERSON, FIRM, TLED"",PLANNING AN D'DtVELOPMENT''''CHAPTER
22 .WHICH-CHAPTER.-IS ENTITLED STAEETS'AND
CORPORATION,ANY DISCOUNT, REBATE, COMMISSION, OR REFU SIISEWALKS;•.AND CHAPTER 28 WHICH CHAPTER.IS
ENTITLED.126NING—REPEALIN6'SECTION 8-6 ENTI-
PURPOSE OF SECURING THIS ADVERTISEMENT FOR PUBLICATIOI TLEDiTSONDITIONs`T,O�PER ,SSUANCE of REMODELING
NE PAPER. REPEALING ARTICLE III;+OF CHAPTER 8 ENTITLED
9? ARCHITECTURAL , REVIEW '.SECTIbNS 8 29
IO .THROUGH ENTI`TILED SCOMBIN N&-LOTS, NN O O E UNIT•EFFECT'•'REPEA LING,SECTIONt•9-6'ENTITLED'
SIGNATU E AFFIANT DECLARATION COMBINING LOTS REPEALING'AR!
( ) TICLE-'11 DIVISION,:24OF CHAQTE'R 13':":ENTIT.LED'
UNSANITARY,4. BUILDINGS wuatSE0TIOJ S�"a*$13=37i
THROUGH 13-d3 INiITS;ENTIRETY PRO.VIDiNG+FOR
SWORN TO AND SUBSCRIBED BEFORE ME CONF.LICTS,aiPROVIDING�FORt,'S�VERANCE,iFUR'j+
ON: 15-February-2001 A.D. ANEORDINANCE Ofi.THE CITY OFyDANIAEBEACH4!
FORD-:8;PROVIDING THAT THEIPORTION OF.STATE'
ROAD-_84 'WHICH PORTION i LIES IMMEDIATELY
7
'WEST,OF INTERSTATEvHIGHWAY:1 95 -EXTENDING.WESTERLY TO?HE PORTION+OF THEaROADIBOR-DEFIED ON THE`WESVBY:THE SOUTH FORK OF NEW
RIVER,PNHICH;IS ALSO%:THE WESTERNMOST COR-
(SI NAT Fr,N43
i PpRAT LIMIT.rOF 3THEfi CITY.;rSHALLgLSO'BE
� i � Aild KNOWN tAS AND tNAMED MA 'INAvBOULEVARD'•
PROVIDING FOR CONFLICTS PROVIDING-FOR SEV'
%COFFII��l,I,IlL94I0Il (x 444Q74 IERANCE FURTHER iPROVIDIWG FOR AN EFFECTIVE
C� �Y 13T)ft11 a DATE e l r 1 Ia9 e,:` i 2ffr lxr c it ePY sr s.;,
A copy of these pproposed Ordinances arerori'file In'the Admiinistrati1 Services'Oepartment CityFHaii 100'
�rrn, ` Atlatt4it 1�9tt Cp,,(gc. West,Danla Beach Boulevard Dania dBeach;F,lorlla'
wo kIngaYhou�s]Ps pected,bylthe public�sd nng normal
Interested parties may apppear at the afores Id meeting
(NAME OF NOTARY,TYPED, PRINTED, OR AMPED) and be heard with respecf:to the proposed Any pparson
who:;decides to'appeal any deciston,made:by the, Ity
Commission with;respect to any matter considered.at this hearing will need a record of th.'e proceedings and
PERSONALLY KNOWN OR for such..purpose;may need to°ensure that a;verbatim
record of ihe`pproceedInggs is made which record in-
ciudes the testimony antl evidence upon which the ap7
PRODUCED IDENTIFICATION Pealts,totiebased :, �-
n accordance':with the American with Dlsabllittes Act;persons'needing;assistance to particippate in any of the proceedings should contact Sheryyl=;Chappman Acting
City Clerk 100'wWest mania Beach'Boulevard�Dania
Beach,Florida,33Q04 (954)924 3630 atie"ast4l�hours
prtor.to.ihemeet(ng }}°aa
/s/Charlene Johnson CMC 't
Deputy Ctty Clerks j"I.8t'9i Mh N ti#r TW
Februery_15 2001,I#r 7.3•n x-• r t$.}ro!'a;rtt� ��Sr aMy�,