HomeMy WebLinkAboutResolution_05-88/89_03/09/1989 i
RESOLUTION NO. 5 -88/89
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, REQUESTING
THAT THE 1989 SESSION OF THE FLORIDA LEGISLATURE
ENACT LEGISLATION WHICH WOULD ALLOW MUNICIPALITIES
TO WITHDRAW FROM THE FLORIDA RETIREMENT SYSTEM.
WHEREAS, the Florida Legislature in 1970 adopted
legislation which allowed municipalities of the State to join
the Florida Retirement System; and
WHEREAS, at the time when many municipalities entered the I
( iFlorida Retirement System, the cities' contributions were 40 of
the employee's salary and the employee was required to
(( contribute 4 %; and
WHEREAS, the Florida Legislature made said Florida
Retirement System non - contributory for city employees without
the consent of member cities; and
WHEREAS, effective January 1, 1989 Tequesta is required to
contribute 14.38% of gross salary for regular employees and
17.98% for special risk employees; and
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WHEREAS, the city governing bodies have no control over '
additional increases and benefits and additional contributions;
and
WHEREAS, said increases and benefits and contributions may
I result in additional tax burden on the citizens of the y
municipality including the Village of Tequesta; and
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WHEREAS, cities individually may provide benefits that are
actuarially equivalent to the Florida Retirement System at less
cost; and
WHEREAS man city y employees are forced to forfeit the
entire city's contributions to the Florida Retirement System
without vesting in such system; and
WHEREAS, much of the city contributions are now being
allocated to pay for actuarial deficits and unfunded liability
created prior to the city's enrollment into the State program;
and
WHEREAS, the State's own independent actuarial valuations
indicate that allowing cities to withdraw from the system for
all future employees would result in an insignificant effect on
the remaining members of the Florida Retirement System.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF
THE VILLAGE OF TEQUESTA:
Section 1. The legislature of the State of Florida should
immediately pass legislation which would allow municipalities
in the State to have one (1) year to withdraw from the Florida
Retirement System for all future employees.
Section 2. Specifically, the Palm Beach Count Legislative
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Delegation is requested to support any such legislation which
would allow municipalities in the State to have one (1) year to
(withdraw from the Florida Retirement System for all future
employees.