HomeMy WebLinkAboutAgreement_General_08/29/2011 THE LAW OFFICES OF
DERRY & JENSEN, LLC
ANN H. PERRY BONNI SPATARA JENSEN
aperry @perryjensenlaw.com bsjensen @perryjensenlaw.com
July 19, 2011
VIA EMAIL TRANSMISSION
Michael Couzzo, Village Manager
Village of Tequesta
345 Tequesta Drive
Tequesta, Florida 33469
Re: Village of Tequesta Public Safety Officers'
Pension Trust Fund
Pension Plan Document Proposed
Amendment
Our File No.: 1011.0050
Dear Michael:
This is to confirm my recent telephone conversations with various members of
the Village of Tequesta staff regarding the amendment of the Village of Tequesta Public
Safety Officers' Pension Trust Fund to implement a new collective bargaining agree-
ment provision with the Palm Beach County Police Benevolent Association. The new
collective bargaining agreement provides for the closing of the Public Safety Plan and
the creation of a new defined contribution plan for the new police officer hires. To
close the plan and provide for the offering of a new defined contribution plan, the
following will need to be accomplished.
1. The current pension plan needs to be revised to provide for the change and
explain how the current employees are to be treated. This would include drafting
an amendment, obtaining an actuarial impact statement, having two council
readings and providing the amendment to the state, both after the first reading
and when final after the second reading.
2. The new defined contribution plan needs to be drafted. This may be fairly easy
and incorporated into the below step - many service providers have prototype
plans that you can adopt.
3. A service provider needs to be engaged. The Village will need to determine the
internal process for this selection.
4. A governing body will need to be established to run the new plan. This would be
within the Village staff or appointing a Board as is in place currently.
400 EXECUTIVE CENTER DRIVE, SUITE 207•: WEST PALM BEACH, FLORIDA 33401 -2922
PH: 561.686.6550 .• Fx: 561.686.2802
ate»
Michael Couzzo, Village Manager
Village of Tequesta
July 19, 2011
Page 2 of 2
5. Participation in State distribution of money pursuant to Florida Statutes Chapter
185 will need to be terminated. The participation in the State distribution
pursuant to Florida Statutes Chapter 175 will be maintained. This involves:
a) A reconciliation of the plan assets for the 185 portion from October 1,
2010 up through the plan's termination;
b) A letter from the Board advising Municipal Police Officers and Firefighters
Pension Trust Fund office of the termination of the 185 portion of the plan,
including details concerning the method of distribution of the assets
(which may include a substituted plan);
c) A confirmation that employee benefits have been or will be paid; and
d) The passage of an ordinance repealing the 185 levying Ordinance with
copies of the ordinance provided to the State.
I anticipate that my fees will be in the range of $5,000 to $10,000 to make the
changes to the Pension Plan have the changes, implemented and follow through all of
the changes required to end participation in the 185. This includes consultation for the
new DC plan as required, but does not include drafting a new Plan for the new defined
contribution plan. I anticipate that the work will take between 20 to 40 hours at $250
per hour. This is my best guess based on prior plans that have terminated. Please let
me know if this is agreeable to you.
At the last meeting, the Pension Board agreed that I can work directly for the
Village for the limited purpose of drafting this ordinance and consulting on the new plan
document and service provider.
Thanks for the confidence that you have placed in my firm.
Sincerely yours,
r
Bonni S. Jensen
BSJ
Ecopy to: Chairman and Secretary, Board of Trustees
Administrator
Merlene Reid, Human Resources
JoAnn Forsythe, Finance Director
H: \Tequesta PS 1011 \Village \Manager \July 19 proposal for plan amendment for 185 close.wpd
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Telfrin, Debra
From: Telfrin, Debra
Sent: Wednesday, July 20, 2011 3:18 PM
To: Forsythe, Jody
Cc: Couzzo, Michael; Telfrin, Debra; McWilliams, Lori
Subject: MANAGER'S REQUEST TO PRESENT THIS AGENDA ITEM: Tequesta Public Safety
Officers Pension Fund - Plan Amendment due to CBA provisions
Attachments: couzzo prop plan ter.pdf
Importance: High
Good afternoon Jody,
At the request of Mike the above attachment and emails below are forwarded for your review
and preparation. The Manager would like this item prepared and presented by Finance.
Thank you,
Debra A. Telfrin
Executive Assistant
561 - 768 -0465
561 - 768 -0697
- - - -- Original Message---- -
From: McWilliams, Lori
Sent: Wednesday, July 20, 2011 11:21 AM
To: Telfrin, Debra; Couzzo, Michael
Subject: FW: Tequesta Public Safety Officers Pension Fund - Plan Amendment due to CBA
provisions
Deb,
I am placing this item on the August agenda as requested by Merlene. Please ask the Manager
who he wants to present the item? Whoever he deems to be the presenter they will need to
complete the routing sheet.
Thanks,
Lori
- - - -- Original Message---- -
From: Reid, Merlene
Sent: Wednesday, July 20, 2011 7:48 AM
To: McWilliams, Lori
Cc: Telfrin, Debra; Couzzo, Michael
Subject: FW: Tequesta Public Safety Officers Pension Fund - Plan Amendment due to CBA
provisions
Lori,
Per the Village Manager, the attached letter from Bonni Jensen is for the Consent agenda.
You can check with him to determine if it will be through his office.
Merlene
- - - -- Original Message---- -
From: Bonni S. Jensen [ mailto :bsjensen @perryjensenlaw.com]
Sent: Tuesday, July 19, 2011 5:02 PM
To: Couzzo, Michael
Cc: Reid, Merlene; Forsythe, Jody; Frank D'Ambra; Giblin, Raymond; Cooper, David; Robert
Young; John Terzakis; Dixie Martinez; Scott Baur
Subject: Tequesta Public Safety Officers Pension Fund - Plan Amendment due to CBA provisions
Michael,
I believe that the attached represents the substance of our recent discussions. Please
contact me if you have any questions.
TO SEND MAIL TO MY ENTIRE TEAM, PLEASE RESPOND TO THEPENSIONTEAM (@PERRYJENSENLAW.COM
Bonni S. Jensen < bsiensen(@perryiensenlaw.com > Law Offices of Perry & Jensen, LLC 400
Executive Center Drive, Suite 207 West Palm Beach, Florida 33401
Telephone: (561)686 -6550
Facsimile: (561)686 -2802
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