HomeMy WebLinkAboutAgreement_General_03/08/2018_PBA MEMORANDUM OF UNDERSTANDING WITH/14EGARD TO ALL
FULL-TIME PERSONNEL EMPLOYED BY THE VILLAGE OF TEQUESTA
REPRESENTED BY THE PALM BEACH COUNTY POLICE BENEVOLENT
ASSOCIATION, INC., WITHIN PERC BARGAINING UNIT NUMBERED 1615 AND
PERTAINING TO RETIREMENT
THE VILLAGE OF TEQUESTA, FLORIDA (hereinafter referred to as "VILLAGE")
and THE PALM BEACH COUNTY POLICE BENEVOLENT ASSOCIATION, INC.
(hereinafter referred to as the "PBA") agree as follows:
ARTICLE 29
RETIREMENT
1. The current language of this article with respect to full-time sworn police officers of
the Village of Tequesta covered by the PBA contract hired on or after February 1,
2013 is replaced by the following language.
2. To be effective, this agreement for amendment must be ratified by the bargaining
unit not later than March 1, 2018.
3. Upon ratification of the collective bargaining agreement by both parties, the Village
will take appropriate legislative steps to amend the Village ordinance that
establishes the Public Safety Officers' Pension Trust Fund to incorporate the
following agreement of the parties reached in collective bargaining negotiations, to
be effective June 1, 2018.
4. The member contribution for police officers who become members of the plan on
or after February 1, 2013, will be six percent (6%) of salary. The defined benefit
plan as currently written will remain unchanged for current participants (individuals
hired by the Village as full-time sworn police officers between January 1, 1996 and
a date prior to February 1, 2013).
5. The defined benefit plan will be amended to include individuals hired as permanent
sworn police officers after February 1, 2013, and all individuals hired in the future
as sworn police officers, subject to the following provisions (amended defined
benefit plan) unique to the new group of participants.
6. The multiplier applicable to the new group of participants shall be 2% for the first
3 years of service; 2.35% for years 4—6, and 2.75% for year 7 and thereafter.
7. Solely for the purpose of determining the new participant's multiplier entry point,
years of service will be credited based on the employee's date of hire as a
permanent sworn police officer. E.g., a new participant hired on February 2, 2013
would begin to accrue benefits starting June 1, 2018 at a multiplier of 2.35%. The
multiplier would increase to 2.75% beginning February 2, 2019 upon completion
of the participant's sixth year of credited service under the amended defined
benefit plan. However, credited years of service for retirement benefit purposes for
the new group of participants shall begin upon entry into the plan, not earlier than
the effective date of the amended pension ordinance.
8. The new group of participants must notify Human Resources by April 1, 2018
whether they intend to participate in the new defined benefit plan, or remain in the
current 401(k) plan. If all the employees affected opt into the new defined benefit
plan, the 401(k) plan will be terminated and the funds made available for rollover
into another qualified plan or retirement account.
9. Except as expressly provided above, all other plan provisions related to disability,
distributions at retirement, fund management, etc. will remain as written and will
be applicable to the amended defined benefit plan.
Village and the PBA Agree Further:
1. That this Memorandum of Understanding shall be effective from its full execution
through and including September 30, 2019; and,
2. That the Parties have full legal authority to enter into this Memorandum of
Understanding.
IN WITNESS THEREOF, the Parties have caused this Memorandum of
Understanding to be signed by their duly authorized representatives on this
day of I'Y1Q,rPi1n , 2018.
FOR THE VILLAGE FORT iE BA
Michael Couzzo, Village Manager John K zaniia President
t erim Chief of Police PBA Legal Counsel