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Home My WebLink AboutPension General_Documentation_Tab 12_11/06/2006VILLAGE~OF TEQUESTA LUMP SUM BENEFIT PAYMENT AUTHORIZATION L~eneral Employees Pension Trust Fund ^ Rollover ^ Public Safety Officers Pension Trust Fund ~.Aistribution ~ s , PAYEE DATA Tag Form Address ^ (same as mailing address) Mail check to: ~Pa ee ^ Financial Institution/Direct De osit ^ Check if a ee is a beneficia Payee Name (Last, First, M~ddle) Address SJ" 1 Address City Ciry ~ ~ ~ S~ ~ ~ ~( Reason for separation of service: ° -- ^- Normal termination Social Securi .Number ^ Resigned Partici ant Census Information ^ Normal retirement _ Date of birth : ~ ,-1 ~ Date of hire: S _ ~~ _c ~ ~~ ~ ^ Early retirement ~ ^ Death benefit from the account of: Date of entry: Date of separation of service: ~'a-~-c b ~' - ~ -c 6 Direct rollover Participant has elected a direct rollover ^ Disability retirement Direct rollover to IRA Information If yes, answer the following: ^ Yes ^ No ^ Direct rollover to qualified plan ^ Other Amouut of Rollover AUTHORIZ SIGNATURES: Employer: Employee: -----r Total: y FBO (Name of Participant) Financ it ctor j ate Account number: Secre Board of T st s ~ Date ~ ~ ~ Address of financial institution: Boar Trustees ! ) ~ ~ ~ Date Distribution informati~repar~ ~~DD/,/,// ~ ~~ ~ .r' Distribution Information ~~` °~ -_= ~.. Benefits Em to er Em to ee Total sW.~ '''' Taxable t Non-taxable r Total gross ~ ~ a ~ ~ ~ .,~ 5~. ~ 20% mandatory withholding ~~- ~ ~~ - Total check amount ~ O ~ ' ~~ ~ ~ (~ O Finance to verify bank balance amount _~~M ~ - f _. Employee Signature Date ~::, ;'~ '`_r_; ~;. illage of Tequesta Pension Contribution Report Date: 08/09/2006 Time: 09:48:32 Retirement Code: PENS2 Interest Rate: 0.0000 Employee Name Employee ID Soc Sec Number Pension Gross FYTD Pension Bal Beg of FY Interest Beg of FY Curr.Year Contrib. Total Contrib. SOSSI, KEVIN 3713 591-94-1756 $5,037.50 $0.00 $0.00 $251.88 $251.88 Total Employees: 1 $5,037.50 $0.00 $0.00 $251.88 $251.88 Total Retirement Codes: 1 $5,037.50 $0.00 $0.00 $251.88 $251.88 Page 1 VILLAGE OF TEQUESTA LUMP SUM BENEFIT PAYMENT AUTHORIZATION • General Employees Pension Trust Fund ^ Rollover ^ Public Safet Officers Pension Trust Fund Distribution y ~, C~.~.-: z PAYEE DATA Tax Form Address ^ (same as mailing address) Mail check to: Pa ee ^ Financial Institution/Direct De osit ^ Check if ee is a beneficia Payee Name (Last, First, M~ddle) Address ~c~ rr\~ Address ~"~,l I I1 ,. + I ~ ~1~/l~.I lrli Y~~-. "V~~CSJ City City --~. ~~ 5 ~ ~ ~ -~ ~~ Reason for separation of service: `2 c,~s -- , ^ Normal termination Social Securit Num er ~ Resigned Partici ant Census Information ^ Normal retirement Date of birth : Date of hire: I ~ ~ C G s ^ Earl y retirement ~G ' ~-~ ' ~, ~ ^ Death benefit from the account of: Date of entry: Date of separation of service: ' ~-R -G (, -(G ~ U S b Direct rollover Participant has elected a direct rollover ^ Disability retirement ^ Direct rollover to IRA Information If yes, answer the following: ^ Yes ^ No ^ Direct rollover to qualified plan ^ Other l l J ii~ ~l i Amouut of Rollover AUTHORIZATION SIGNATURES: Employer: Employee: ~ ~ Total: _ `~ _ ~` lf~b ~a FBO (Name of Participant) ~ e" irector Date Account number: Secretary Board of Trust Date Address of financial institution: Board pf T stees ~, ' Date / ~ •,f l~l~L istribution information ` ed by: ~ ,~ Distribution Information Benefits Em to er Em to ee Total Taxable ~~-- Non-taxable ,. ~_ Total gross V ~ ~ ~ ~~ (~ ~~~ ~ (.~ ~.J 20% mandatory ~~r ~ ~ ~ withholdin . - • Total check amount ~~ _ ~~ ~ ~ -~ ~ `~,i F,- '~V ~'o l Finance to verify bank balance amount - ~~, Employee Signature Date INTEROFFICE MEMORANDUM To: Jody Forsythe, Finance Director Cc: Patrice Monaco, Asst. Finance Dir. From: Monica Rahim, Accounting Clerk '.j~_k'-z. Date: August 14, 2006 Subject: ICB Balance -General Employees Pension Trust Fund The balance at the Independent Community Bank for the General Employees Pension Trust Fund on August 14, 2006 as per GL is as follows: Balance as per reconciliation @ 7/31/06 777.59 Add: W ire Transfer on 8/8/06 3,200.00 Add: Wire Transfer on 8/11/06 250.00 Total 4,227.59 Less: Minimum balance (750.00) Available balance @ 6113/06 3,477.59 Less: Dana Investment (1,175.30) Less: Bogdahn Consulting (750.00) Less: Hanson, Perry, Jensen (932.20) Less: Business Services Connection (265.82) Less: Refund of Contributions - K. Sossi (201.50) Less; Withholding Tax - K. Sossi (50.38) Net 102.39 HANSON, PERRY ~ JENSEN, P.A. 4OO EXECUTIVE CENTER DRIVE, SUITE 2O7 -WEST PALAA BEACH, FLDRIUA 33401-2922 JILL HANSON* mjhanson®hpjlaw.com ANN H. PERRY aperry~ hpJlaw.com BONNI SPATARA JENSEN bsjensen~hpjlaw.com 'also AoMmeo n+ N.Y. September 29, 2006 TELEPHONE (561}686-6550 FACSIMILE (561) 686-2802 ViA ELECTRONIC AND FIRST CLASS MAIL Monica Rahim Tequesta Village Hall Finance Department 250 Tequesta Drive, Suite 300 Tequesta, Florida 33469 mrahimCc~tequesta.org Dear Monica: Re: The Village of Tequesta General Employees Pension Trust Fund Withdrawal of Employee Contributions Prior to Termination of Employment with Village Our File No.: 1012.9000 Pursuant to our telephone conversation, a member may receive a refund of contributions when no longer participating the employer's pension plan even though the member does not sever employment with the municipality. Based upon our conversation, the facts are as follows: An employee who participated in the General Employee Pension Plan has transferred into the Police Department. The employee is no longer eligible to participate in the general employee pension plan. The employee is eligible to participate and will participate in the Public Safety Pension Plan. The Internal Revenue Service has had a long standing Ruling that employees who no longer participate in a pension plan are eligible to take a refund of their employee contributions even while in service. Revenue Ruling 60-281, C.B. 1960-2, 146 and CCH, Pension and Payroll, Pension Plan Guide, ~thdrawalofBenefitsPriortoRetirement, ¶150 (2006 Online Version). 13 Tequesta General Employees Pension Trust Fund Refund of Contributions September 29, 2006 Page 2 If you have any questions, please do not hesitate to contact me. Sincerely yours, ~, ., r /f~ ~`l Bonni n~ n S Je se E-Copy: Chariman and Secretary Gwen Carlisle Betty Laur Jodi Forsythe I :~~ ~ IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. H:\7equesta GE 1012\Village\FINANCE\refund of contributions.wpd ILLAGE OF TEQUEST'A LUMP SUM BENEFIT PAYMENT AUTHORIZATION General Employees Pension Trust Fund ^ Rollover ^ Public Safety Officers Pension Trust Fund 1'~ Distributio PAYEE DATA Tax Form Address ^ (same as mailing address) .Mail check to: Pa ee ^ Financial Institution/Direct De osit ^ Check if a ee is a beneficia Payee Name (Last, First, ~ ddle) Address C u r \\ V'~d Address ~ ~ ~ ~ /' ,n ~.~.{.. ~ y Ctty ~-e ' ~r~~~ r ~ L- ~ ~ ~{ ~ ~ Reason for se aration of service: p ~- Normal termination Social Securi .Number ^ Resigned Partici ant Census Infor ^ Normal retirement Date of birth : S -~ " ~ Date of hire: ~~ ~~ -~ ~ ^ Early retirement ' 9 ^ Death benefit from the account of: Date of entry: Date of separation of service: Direct rollover Participant has elected a direct rollover ^ Disability retirement 0 .Direct rollover to IRA Information If yes, answer the following: ^ Yes ^ No ^ Direct rollover to qualified plan ^ Other Amount of Rollover Employer: Employee: AUTHORIZAT SIGNATURES: -- TotaL• ~ ~ l - -~~~~~~ ~ i ~ FBO (Name of Participant) i r ~ Date i r Account number: Secretary~°ar~ of Trustees _ Date Address of financial institution: Boar Trustees Date ' ~ ` ~ i Distribution in~ rmatio p~epared ~~ , ' ~C~ ~1C'~ - C~~ ~~ ~~ Distribution Information Benefits Em to er Em to ee .._ Total : ~ _ -~ Taxable , r, Non-taxable , Total gross ~ ~ f - ~~ _ --~- I P~`I lC1- ~ ~ ~` 20% mandatory withholdin ~ ~--_ ~ , ~ ~ . ~ tri a~ Total check amount ~~~~.~~ ~ Finance to verify bank balance amount ......._ .. _..... _-~_ __ ~i~-~~ E oyee - ure Date