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HomeMy WebLinkAboutDocumentation_Regular_Tab 8B_7/22/1993 r O / VILLAGE OF TEQUESTA 3 • Post Office Box 3273 • 357 Tequesta Drive - ' Tcqucsta,Florida 33469-0273 • (407) 575-6200 "OA:: .: g Fax: (407)575-6203 s � e4, H COW'. MEMORANDUM: TO: Village Council • FROM: Thomas G.. Bradford, Village Manager —7,a 1 DATE: July 16, 1993 SUBJECT: Ordinance Creating Tequesta Retirement and Trust Plan; Agenda Item The Public Safety Committee on June 9 recommended a Tequesta Firefighter Retirement Plan be - adopted which included the following: 1 ) A five percent employee contribution rate. 2 ) Three percent benefit per year of service. 3) Retirement at age 52 after 25 years of service. 4) Utilize Chapter 175 Revenues. 5) Plan to have a net cost to the Village of 14 . 4 percent. A Draft Ordinance effectuating this Retirement and Trust Plan is attached hereto. The Village Attorney will review- the same and have the final document before the Council Meeting. This Ordinance has been prepared by the Florida League of Cities at the request of the Village. It appears to meet all the necessary requirements of Chapter 175, Florida Statutes, relative to firefighter pension plans . It is recommended that the Village Council adopt this Ordinance. TGB/cm attachment Recycled Paper JONES, FOSTER, JOHNSTON & STUBBS, P. A. ATTotem,ro AND oo$.Of FLAMER CENTER TOWER aft SOUTH FLAMER owe ELEVEMR FLOOR LAY a.A EXAmpcm won% w.NV LLM P.O. ROX a4 Ti HEP.R,I.LW TIMI V.IeIwT J.AlT.lO rAYrIA A IAOI.tgTET W WT PALM REACH.FLORIDA$8402..411 1I Iwe 11T(0IIEM J.MACAW MIAMI!E IAONA4WI 4001T U.COLTOH AOHN C.TIAMOOLPH OW)06Q 1000 Kim WHOM JoHNSI JOToc A COMSAT JOINN FAX:(407) •1464 maims w isco ETTLt_GO000ITA GNAW ANDIEM MOM A Imixf Jd/q MISCCAQ DORM( NEVEM J.IIO'IIIIAAM I.m$RlE. CNIgTDrIIE��.DIME PETETT A Wets o00TT Q.H.wcO O U.OMEN MInH■ MA C.NOM T11OI.ITOTI w.MIRY JOEL T.STM1111 1M•MM TETE.C.HOLTON AOIIEr A NVws.JIl W inn%DIRECT LI:— MOM UAlal ALOPTF:.O AHEM K TOMJIaON MINA.AMEN HIbIA(L T.NNW JOHM&Ward JdrN.1a110MY 'EWA&P.WM. I aC01AAi1 J01w avant w.oucurN M.ADAAM TIEA1EN L.MOTO?WAWA awl IDPJ TOM M Ia./DO TW ATE. DEUTAV MPwol.MICIONOA fore • July 16, 1993 • VIA PAX: 575. 6203 Mr. Thomas G. Bradford Village Manager Village of Tequesta Post Office Box 3273 Tequesta, Florida 33469 RE:, Village of Tequesta Ordinance Creating Tequesta Firefighter Pension Plan. Our File No. 13153.1 Dear Tom: I have reviewed the ordinance creating the Tequesta Firefighter' Pension Plan. Although the ordinance does not need to specifically incorporate the text, the ordinance should attach and incorporate by reference the full text of the Plan. If you do .not have the Plan, I would recommend that you obtain it from the League of - Cities and attach it as an exhibit to the ordinance. You will note that I have made some modifications to the ordinance and have enclosed the amended version. • Since j, , i John C. Randolph JCR/ssm Enclosure ORDYMENOR MO. AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR THE ESTABLISHMENT OF A LOCAL LAW RETIREMENT PLAN AND TRUST FOR THE FIREFIGHTERS OF THE VILLAGE OF TEQUESTA, FLORIDA, AUTHORIZING THE PARTICIPATION OF SAID PLAN AND TRUST IN THE FLORIDA MUNICIPAL TRUST FUND/ PROVIDING FOR SEVERABILITY; PROVIDING FOR REPEAL OP ORDINANCES IN CONFLICT/ PROVIDING FOR CODIFICATION/ PROVIDING AN EFFECTIVE DATE. WHEREAS, the Village Council of the Village of Tequesta, Florida, finds the long-term tenure of its firefighters to be in the best interest of the Village, its firefighters and its citizens; and WHEREAS, the Village of Tequosta, Florida, finds that the establishment of a retirement plan and trust for the firefighters of the village of Tequesta, Florida, can attract qualified firefighters to the Village and can encourage long term and continued employment with the Village; and WHEREAS, the Village of Tequesta, Florida under the provisions of the laws of the State of Florida, in particular Chapter 166, Florida Statutes, Chapter 175, Florida Statutes, and Chapter 175.351, Florida Statutes, is authorized to establish its own local law retirement plan and trust for firefighters/ and WHEREAS, it is the intent of the Village Council of the Village of Tequesta, Florida, to establish such a retirement plan and trust; and WHEREAS, it is the further interest of the Village Council of the Village of Tequesta, Florida, to authorize the participation of said plan and trust in the Florida Municipal Pension Trust Fund. NOW, THEREFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA: Section 1. A Retirement Plan and Trust for the Firefighters of the Village of Tequesta, Florida, is hereby established, effective the day of , 1993. The instruments which represent the terms of said Plan and•`Trust are attached hereto as Exhibit "A" and are incorporated as part of this ordinance, and are remanded to the custody of the Village Clerk who will maintain same for public inspection. Section 2. The Village Council of the Village of Tequesta, Florida, shall have the power to amend said Plan and Trust at such time or times as considered in the best interest of the Village, its firefighters and its citizens. Section 3. The village council of the Village of Tequesta, Florida, hereby expressly authorizes the participation of said Plan and Trust in the Florida Municipal Pension Trust Fund and hereby authorizes the administration of said Plan and Trust, and the investment of the funds of said Plan and Trust, within the procedures, policies and methods outlined in the Fund's Master Trust Agreement. Section 4. The Village Council of the Village of Tequesta, Florida, hereby empowers the Mayor of the Village of Tequesta, Florida, with the authority to execute such documents and agreements as are required for participation in the Florida Municipal Pension Trust Fund. Section 5. This ordinance shall remain in force until supplemented, amended, repealed or otherwise altered. Section 6. This ordinance shall be published as required by the Cod• of the Village of 'requests, Florida. Section 7. 8evorability. iIf any provision of this Ordinance or the application thereof is held invalid, such invalidity shall not affect the other provisions or applications of this Ordinance which can be given effect without the invalid provisions or applications, and to this end, the provisions of this Ordinance are hereby declared severable. Section Q. Repeal of Ordinances in Conflict. All other ordinances of the Village of Tequesta, Florida, or parts thereof which conflict with this or any part of this Ordinance are hereby repealed. Section 9. Codification. This Ordinance shall be codified and made a part of the official Code of Ordinances of the Village of Tequesta. Section 10. Effective Date. This Ordinance shall take effect immediately upon its passage and approval, as provided' by law. THE FOREGOING ORDINANCE was offered by Councilmeaber who moved its adoption. The Ordinance was seconded by Councilmember and upon being put to a vote, the vote was as follows: FOR ADOPTIOf AGAINST ADOPTION The Mayor thereupon declared the Ordinance duly passed and adopted this day of , 1993. MAYOR OF TEQUESTA Ron T. Nackail ATTEST: Village Clerk JCR\1315300V1tEPENS.00 Z • Florida League of Cities,Inc. Florida league of Cities,Inc. ��. Public Risk Servkes' ' 201 West Park!Avenue -- 135 East Colonial give Post Office Box 1757 : ,` t Past Office ilivx 530065 Tallahassee, F1;32302-1757 r rr 1 _` ..;,•`' .;• Orlando,Fr;328a3.00G5 Telephone( )222-9684 .-,..,t':`,., ref t. �' '•.;." Telephone fa07) 3006 42 Suncom 2785131 eFi T' ' _Cn_ s Suncom 344-6767 FAX(904)222�'3806 = —_ - -__ --_ 1 to —•'' i geply_tq ❑ may .. j .. !#i#! ii*#ls**#!#**i!!.#**********!!# ***!# 1' - TIME: - # OF PAGES INC COVER: Via'' , DATE: , TO: 1FAX Phone Na l6'7 7.�6?..d 3. • i Company/De - i lia • • i Attention • - , --- . • FAX Phone Na 2" FROM: : : i D• ept/Sender r � • Phone Na _ . : .• i • • • • /__ _ /!_ .fit, i`- / ., • 1 { • � s i • I - , , H H • Operator Florida Municipal Self Florida Municipal Health Florida Municipal Pension rlorida Municipal Insurance Fund(Workers' Trust Fund I Trust Fund Trust(L bility and Incases I I compensation). , l 1 l i . s !I . 1 • • i '(IMAGE OF TEQUESTA MUNICIP FIREFIGHTERS' PENSION TRUST FUND ; . SUMMARY ;DESCRIPTION . ;l I . • . 1 . . . • . f 1 I . VILIAGE OF TEQUESTA MUNICIPAL F REF1GHTERS' PENSION TRUST FUND : • . i SUMMARY LAN DESCRIPTION INT OIiCTION , The Board of Trustees of the VI a Of Tequesta Municipal Firefighters' Pension, ' Trust Fund is pleased to present this bo et which briefly explains the provisions of your • Firefighters' Pension Plan. As a parties t in the Fund, you are included In.a program of benefits to help you moot your financi needs at retirement,or in the event of.disability or death. , . • • • - This booklet can assist you in pr .pariflg for your retirement and financial.futures. • If ycu need further information on ant topics presented in this booklet; please contiact any member of the Board of : They will either answer questions you. might have to help you understand yos or otherwise get you an answer to your questions. We urge you to read and ud this booklet in order to become familiar with the benefits of the plan and howtribute to your financial security and how . 1 they:•will enrich your retirement years. , i The information presented is onli a summary of the pension plan ("Plan' a$. • provided in the ordinances of the Village f Tequesta. If there are any conflicts between the Information in this booklet and th ordinances of the Village of Tequesta, the • ordinances shall govern. A copy of the inane establishing the Plan can be obtained fromithe Village Clerk's office, which is I ted at 357 Tequesta Drive,Tequesta,•Florida 33409-6203. - i 1 : Chairman,Board of Trustees, • Village of Tequesta Municipal Firefighters' Pension Trust Fund Date i • II • • • • • • • i • • . j 1. BOARD OF TRUSTEES AND PLAN ADMINISTRAT)ON A. Administration. The Village•ofTequesta Municipal Firefighters'Pension Trust Furid is a defined benefit pension plan administered by a Board of Trustees which acts as the administrator of the Plan. The oard consists of five Trustees, two of who are appointed by the Village, two of who 'are full-time Firefighters who are elected by;a • majority of the members of the Plan and fifth Trustee who is chosen by a majority of the first;four Trustees. Each Trustee sere a two year term. B. The names and addr of the current Trustees are attached toll* Summary Plan Description as Exhibit " N. The Chairman of the Board of Trustees Is designated as agent for the service of I al process. . 2. ELIGIBILITY FOR PLAN MEMBER HIPI Each person employed by the F Department as a full-time Firefighter becomes • a member of the Plan as a condition his employment. re All Firefighters are.therefo eligible for all plan benefits.• , 3. PLAN BENEFITS . All claims for benefits under the Plan shall be made in writing to the Board of . • Trutees. . . I A. Normal Retirement Eligibility. A Firefighter is eligible for retirement upon:the attainment of age 55 and the completio •of 10 years of credited service or attainment Of age!52 and the completion of 25 years -f credited service. B. Arno • Normal Retirement :en• . The amount of the normal retirement • benefit is based on a Firefighter's cr : • service e and average compensation: . .`Credited Service" is generally a .ember's period of employment as a Firefighteir • in the Fire Department measured in y -: and parts of years. Credited Service All . inclyde a break in employment of mi • service, provided that the Firefighter is reemployed within one (1) year of di .. - .e.and.the Firefighter deposits the amount Of employee contributions, that the Firefig er would have contributed had he remained a Firefighter. These contributions must be t,eposited upon return to employment or ingest • will qe charged. Additional credited serwe time may also be available (See subsection I. below). ! 'Average Compensation° is 1/12 . the average salary of the 5 best years of the • last 10 years of credited service prior to *lion,retirement or death of the Firefighter: A,year is defined as 12 consecutive mo . '. . Milo.bRAFT/Vigage w talauslapuly 15.1993 3 i . I l • 1• • 'Salary" is the base compensation'to include regular earnings, longevity: pay end paramedic Incentive pay, plus all tax deferred and tax exempt Items of Income,excluding lump sum payments. • The normal retirement benefit is •calculated by multiplying 3% times years o credited service times the Firefighters av rage compensation: (three percent (396)•x CS x AFj0 = normal retirement benefit) •• ; The benefit is paid to the Firefighter for his life,but the Firefighter or his beneficiary . shall,receive al least 120 monthly benefit payments in any event . 1 C. Early Retirement. Early.retirement Is retirement before normal retirement„and is allowed at age 50 with ten years.of se•vice. ' • D. A unt of Ear Retirement :nefrts. The amount of the early retirement. benefit-is calculated in the same man = as.for normal retirement and is available•as follows: • (1) Beginning on the date . winich the Firefighter would have qualified for norn}al retirement; or • • (2) Beginning immediately posh retirement, but if beginning immediately. . the Ornount of the monthly benefit is •-.used by 5% for each year by which the • cornrencement of benefits precedes th::normal retirement date. E. Optional Forms of Retirement.. In leu of the amount and form of retirement • income payable under normal and early retirement, a member may elect to receive d • retugrnent benefit in a different form so I,-:ng as the form elected by the Firefighter is of equal actuarial value as the normal retirement benefit The optional forms of benefits • which are available are: retirement income of ` monhyly amount, payable to the Firefighter f (1) A cC . his Ii(etime only. • (2) A retirement income o a.modified monthly amount, payable to•the • Firefighter during the joint lifetime of Firefighter and a dependent joint pensioner designated by the Firefighter, and follow' g the death of either of them, Q096, 7596; 60 • 2/3% or 5096 of such monthly amounts payable to the survivor for the lifetime,of•the surviiror. I • - I F. Disability Retirement. A Firefighter Is considered disabled when•he or she' • becomes totally and permanently unable to perform useful and efficient service as a Firefighter. A written application is made to the Board of Trustees for a disability pension, and the Board of Trustees receives evidence Of the disability and decides whether or not Mu.gw�lvai�or rem/.fir u, 4 • i • • • • the pension is to be granted. If the pin.ion.Is granted, the benefit amount shall be: ; • (1) If the injury or dise:: : is $ervlce connected, the Firefighter shall be entitled to: • ; a. a monthly pe -Ion`.equal,to 42%of his average compensation . based upon finial 5•years of service, or ' . b. an amount eq =1 tq the number of years of his credited servlc e . • • multiplied by • 7 of his average monthly salary based upon hIS . • final 5 years • service. . . • (2) If the Injury or disease I not service connected,the Firelighter shall bQ entitled to a monthly pension equal to:. . . a. a monthly pe :ion�equal:to 25%of his average compensation • ' based upon finial 5 years of service, or i b. an amount eq : tithe number.of years of his credited service . multiplied by :;• ofhis average monthly salary based upon hiS . final 5 yew •. seance. . . . Any condition or impairment of =- . '.of a'Firefighter caused by tuberculosis; . hypertension or heart disease resulting i depth or total disability is presumed.to have been, suffered in'the line of duty unless i a contrary is shown by competent evidence; • provided that the Firefighter has suc ce• - -.fly passed a physical examination on entering : into service and there is no evidence of '. e condition at that time. • Each Firefighter who is claiming ' bilitit benefits shall establish,to the.satisfactiort.• . of the Board, that such disability was n• i occasioned primarily by • a. Excessive or = •ittlal use of any drugs,intoxicants.or alcohol:; b. Injury or d' ;we; sustained while willfully and illegall. • . participating' ,fights,-riots or civil insurrections. •• c Injury or disease srstained while committing a crime. . - d. Injury or dise .e sustained while serving in any.branch of the. . , Armed Forces . e. Injury or d` i sustained after his employment as a' Firefighter ' the Village of Tequesta shall have terminated.' . f. Willful, wanton:or gross negligence of the member. g. Injury or dise . sustained by the Firefighter while working foil . • • anyone other :than the•• Village and arising .out of such • employment . . • . 1 A retired disabled Firefighter is.sub' . tci:periodia medial examinations as.drected` • • by the Board to determine whether a di ility cotitinues. Fw �r/w�.a T.c ssa�/.k y ti� 5 u:ow I i . • . • • . 1 I i 1 G. Death Before Retirement If 'Firefighter dies prior to retirement from the Fite Department, his beneficiary shall•receiv theifoliowing benefit: 1 a. line-of-Duty- ath-benefit is a pension to the spouse (or . children) of S09r of Average Compensation for. live or remarriage. . b. Non-Urre-of- my-pith-the spouse of a memberwith 10 years of credited ' will receive the actuarial equivalent of the1 . . • accrued �or normal retirement benefit. • . . H. Termination of Employment nd,Vesting. if a Firefighter's employment is terminated, either voluntarily or lnvolu ily, the following benefits are payable: 1 (1) If the Firefighter has less than 10 years of credited service upon : • termination, the Firefighter shall be entitled to a refund of the money he has contributed or the Firefighter may leave it deposited trvith the Fund. . (2) if the Firefighter has 1Q or more years of credited service: upon termination, the Firefighter shall be entitled to their accrued monthly retirement benefit ; starting at the Firefighter's otherwise normal or early retirement date (reduced), provided he does not elect to withdraw his contributions and provided the Firefighter survives to • his normal or early retirement date. , 1 I. Additional Credited Service. In ditipn to credited service actually earned In the • emplooyment of the Fire Department, a 'efighter may also receive credited service as . . follows: i r A Firefighter may purchase . edited service for the time a Firefighter serves( : or his served in the military service of a Armed Forces of the United States or the Unitejd States Merchant Marine, prior first and initial employment with the Fire. Department, not to exceed 5 years, by ing intathe Plan an amount to be determined'. by the Plan's actuary,which will result in additional cost to the Plan. A Firefighter may • request and must pay the cost of d fling this calculated amount J. Contributions and Funding. , Village is paying the portion of the cost of the, pension over and above the Firefighter's nttibutions and any amounts received from; the slate insurance rebates. A Firefighte ;contributes 5%of his salary to the Plan. The. Firefighter's contribution will be excluded front his or her gross income for withholding; purpqses so he or she will realize incom :tax benefits. A Firefighter's contributions are.. : . . guaranteed refundable in any event. . 1Minimum K. Benefits. In no event •'II the benefits paid from this Plan be any less • than s member's accumulated contributi s. : 1 : FI AL vivrimiar ci Tique61n/JMy 15.1933 6 : • i I . i . 1 L Maximum Benefits. In no eve will the benefits paid from this Plan exceed the lessor of: (1) An amount as set forth Section 415 of the Internal Revenue Code, or • (2) 100% of the member's W-2!earnings for the 3 highest years.. M. Forfeiture of Pension. Any F ghtar.who is convicted of certain crimes fisted • in the Plan committed prior to retirement,or whose*employment is terminated by reason. of his or her admitted commission, aid abetment of these crimes shall forfeit all rights and benefits under the Plan, except for retOrn of his or her contributions as of the date of his or her termination. i N. Claim Pr duce Bef th . Any member may request In writing that the Board review any denial of any dal . for benefits under the Plan. The Board wit review the case and enter a decision as deems proper within 60 days from the date of. the receipt of such written request. • In the event of a disability ••alm, the Board will render a decision on the claim within 60 days from the receipt•of inert medical release authorization and a list ci,. . all treating health care providers. • . • The Board may extend the I me for rendering a decision by an additional 45 days it determines that such time is n,•= - discovery and full and adequate nrAew. In the event that the Boar' .denies the claim for benefts,'the order of the . . • Board will be in writing and will include: ; • (1) The specific reasons •r denial; • j (2) A description of any =• • information that the Board feels IS necessary for the member to perfect his or her claim; • (3) An explanation of the r= ew.procedure next open to the member which. includes a formal evidentiary hearing. 4. NON-FORFEITABIL.ITY OF PEN I• BE EFITS • A. Li idation of P nsion Fund •. In the event of repeal, or if contn'butione. • to this Fund are discontinued by the VI ,there will be a full vesting of benefits accrued ' to daite of repeal. 1 B. Interest of Members in P n ' F 'd. At no time prior to the satisfaction of al liabilities under the Plan shall any assets the Plan be used.for any purpose other than i • FNAL pRAFr/YWpo al Taqueafa/.luly 15.19 3 7 . 1 I • i � , i • • for the Firefighters exclusive benefit. In event,a Firefighters contnbutlons to the Plisrt are pon-forfeitable. 5. VESTING OF BENEFITS ` A Firefighters retirement benefits e fully vested after 10 years of credited servictj. 6. APPLIcABLE LAW • • The Plan is governed by the fo ing federal, state and local laws: • : • A. Internal Revenue Code and .enclments'thereto. • I B. Chapter 166, Florida Statutes, "Municipalities, General Provisions" • C. Chapter 175, Florida Statutes, 'Municipal Firefighters' Retirement Trust . . ! Funds'. • D. Chapter 175.351 -'Florida • s,:"Municipalities Having Their Own Pension : Plans for Firefighters". • : E. Part VIII, Chapter 112, Florida }es, "Actuarial Soundness of Retirement • Systems"• • } F. Ordinances of the Village of T uesta. • . • G. Administrative rules and regui ons adopted by the Board of Trustees.: : ; 7. PLAN YEAR AND PLAN RECORDS - • The Plan year begins on October of each year and ends on September 30. At . records of the Plan are maintained on basis of the Plan year. • S. FINANCIAL AND ACTUARIAL INFO-MATION • • • A report of pertinent financial and actu= '- information on the solvency and actuarial • soundness of the Plan has been prepar:i• by the Pension Plan's actuary. E s • • !FINAL quiff/Waco d Tequtes/.kdy 15,tan 8 . : EX IBIT"te BOARD • •U TEES The panics and addresses of the me ,• rs of the Board of Trustees are: • Chaitman: * Seorkary: * • Mergber: * Member: * Merriber. * * T9 BE DETERMINED • • • ANIL fiRAPTAIMage ToquadziPuly 15.1993 9 • 7—'