HomeMy WebLinkAboutDocumentation_Regular_Tab 07_09/11/20081. VILLAGE COUNCIL MEETING:
VILLAGE OF TEQUESTA
AGENDA ITEM TRANSMITTAL FORM
Meeting Date:
09/11 /08 Meeting Type: Regular Ordinance #: '::Gck here to enter text,
Consent Agenda: Choose an itery; Resolution #: click here to enter text.
Originating Department: Village Manager
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Authorizing to approve a 5% matched contribution to Chief McCollom's ICMA account in lieu of the
Village of Tequesta Pension Plan
3. BUDGET /FINANCIAL IMPACT:
Account #: °~:sirrk here t~ enter text, Amount of this item: dick here to enter text.
Current Budgeted Amount Available: Amount Remaining after item:
Budget Transfer Required: Choose ~n Appropriate Fund Balance: Choose ~n item.
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Authorizing to approve a 5% matched contribution to Chief McCollom's ICMA account in lieu of the
Village of Tequesta Pension Plan. In addition all current funds in the Villages Pension Plan are
requested to be placed in his ICMA account.
5. APPROVALS:
___-_._... ._.. _. - T'
Dept. Head: '~~~` Finance Director: ~``"`'
Attorney: (for legal sufficiency) Yes [~ No ^
Village Manager: e'`~` ~ `-
• SUBMIT FOR COUNCIL DISCUSSION:
• APPROVE ITEM: C~~'
• DENY ITEM: ^
MEMORANDUM
Village of Tequesta
Administration
TO: Village Council
FROM: Michael Couzzo, Village Mana
DATE: September 5, 2008
SUBJECT: Authorizing to approve a 5% matched contribution to Chief McCollom's
ICMA account in lieu of the Village of Tequesta Pension Plan
Attached for your review and approval is a memo from Chief McCollom requesting to
opt out of the Village of Tequesta's Pension Plan with consideration of an ICMA match.
He is requesting his current contributions be placed in his ICMA account and any future
contributions matched up to 5% of his salary. I have reviewed this memo and based
upon his request, I believe this will reduce our cost.
I respectfully request that Council approve this request.
~~o„ESTq TEQUESTA POLICE DEPARTMENT ~ ~ ~,1
~' ~ '~~N
iOo a c~- ~'~ MEMORANDUM
DEPT
To: Michael R. Cou~o, Jr.
Village Manager
From: Chief William McCollo
Date: September 3, 2008
Subject: VOT PENSION PLAN
Per our recent discussions, I understand that I can opt not to participate in the VOT
Pension Plan. Therefore, in lieu of the participation in the pension plan I would
respectfully request that you consider providing me an ICMA match.
I am currently in the ICMA program through the Village of Tequesta; however, my
contribution is not matched. If it is feasible, I would request that my contribution to
the pension plan to-date is placed in my ICMA account and any future
contributions are matched up to 5% of my salary.
Thank you for any consideration you can give to my request.
April 14, 2005
EXHIBIT "B"
VILLAGE OF TEQUESTA
PUBLIC SAFETY OFFICERS' PENSION TRUST FUND
Section 1. Creation of Pension Trust Fund.
The Village of Tequesta hereby creates and continues the Village of Tequesta
Public Safety Officers' Pension Trust Fund for the purpose of providing retirement, death
and disability benefits to Police Officers and Firefighters who are Members of this Fund,
certain former Village Police Officers and Firefighters and survivor benefits to beneficiaries.
Section 2. Definitions.
1. Statement of Definitions. As used herein, unless otherwise defined or required
by the context, the following words and phrases shall have the meaning indicated:
Accumulated Contributions means a Member's own contributions without interest.
Actuarial Equivalent means a benefit or amount of equal value, based upon the
mortality tables utilized by the Board's actuary or actuaries, and an 8% rate of interest.
Average Final Compensation shall mean one-twelfth (1/12) of the average salary
of the five (5) best years of the last ten (10) years of credited service prior to retirement,
termination, or death or the career average as a full time Firefighter or Police Officer,
whichever is greater. A year shall be twelve (12) consecutive months.
Beneficiary means the person or persons entitled to receive benefits hereunder at
the death of a Member who has or have been designated in writing by the Member and
filed with the Board. If no designation is in effect, or if no person so designated is living,
at the time of death of the Member, the beneficiary shall be the estate of the Member.
Board or Board of Trustees mean the Public Safety Board of Trustees, which shall
administer and manage the System herein provided and serve as Trustees of the Fund for
the benefit of Village Police Officers and Firefighters and their beneficiaries.
Chapters means Chapters 175 and 185 of the Florida Statutes as amended from
time to time.
Code means the Internal Revenue Code of 1986, as amended from time to time.
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April 14, 2005
Credited SQrvice means the total number of years and fractional parts of years of
service as a Police Officer, or Firefighter who makes member contributions to the Plan,
omitting intervening years or fractional parts of years when such Police Officer or
Firefighter may not have been employed by the Viflage of Tequesta. A plan member may
voluntarily leave his/her contribution in the Fund for a period of five (5) years after leaving
the employ of the Village of Tequesta pending the possibility of being rehired in a full time
position by the Village of Tequesta without losing credit for the time of active participation
as a plan member. Should the employee not be re-employed with the Village of Tequesta
in a full time capacity within five (5) years, his/her contributions shall be returned to him/her
without interest. Should a Police Officer or Firefighter be subsequently re-employed as
such, he or she may re-purchase his or her years of credit or fractional parts of years of
credit by reimbursing such returned contribution to the Fund, with interest.
The years or fractional parts of years that a Firefighter, or Police Officer serves in
the military service of the Armed Forces of the United States orthe United States Merchant
Marine, voluntarily, upon being granted leave by the Village of Tequesta and separation
from employment as a Village of Tequesta plan member, shall be added to his/her years
of credited service for all purposes including vesting, provided that:
A. The Firefighter or Police Officer must return to his/her full time employment
with the Fire Department or Police Department within one (1) year from the
date of his/her military discharge.
B. The maximum credit for military service shall be five (5) years.
Effective Date means the date on which this Ordinance becomes effective.
Fire Department means the Tequesta Fire Department.
Firefighter means an actively employed full-time person employed by the Fire
Department, including his/her initial probationary employment period, who is certified or
required to be certified as a Firefighter as a condition of employment in accordance with
the provisions of 633.35 Florida Statutes, including paramedic, and whose duty is to
extinguish fires, to protect life and to protect property .
Fund means the Trust Fund established herein as part of the System.
Member means an actively employed Police Officer or Firefighter that fulfills the
applicable prescribed membership requirements.
Police Department means the Tequesta Police Department.
Police Officer means any person who is elected, appointed, or employed full time
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April 14, 2005
by the Village, who is certified or required to be certified as a law enforcement officer in
compliance with Florida Statute 943.1395, who is vested with authority to bear arms and
make arrests, and whose primary responsibility is the prevention and detection of crime or
the enforcement of the penal, criminal, traffic or highway laws of the state. This definition
includes all certified supervisory and command personnel whose duties include, in whole
or in part, the supervision, training, guidance, and management responsibilities of full time
law enforcement officers, part-time law enforcement officers or au~aliary law enforcement
officers as the same are defined in F.S. 943.10(6) and (8) respectively. Police Officer also
shall include a public safety officer who is responsible for performing both police and fire
services.
Public Safety Board means the Public Safety Board of Trustees provided hereunder
to administer and manage Funds for the benefit of Public Safety Officers.
Public Safety Officers means Firefighters and/or Police Officers.
Salary means the total cash remuneration paid to a police officer or firefighter far
services rendered.
S ouse means the lawful wife or husband of a plan member at the time of pre-
retirement, death or retirement.
Statement of Investment Poliy means the written investment policy adopted by the
Board pursuant to this Ordinance and F.S. 112.661, et seq., which shall apply to funds
under the control of each board.
System means the Village of Tequesta Public Safety Officers' Pension Trust Fund
as contained herein and all amendments thereto.
Vested deferred retirement means a Member who leaves the employ of the Village
with 6 or more years of credited service and who is not eligible for any retirement benefit.
This benefit is payable at early or normal retirement.
Village means the Village of Tequesta, Florida.
2. N1lasculine Gender. The masculine gender, where used herein, unless the
context specifically requires otherwise, shall include both the feminine and masculine
genders.
Section 3. Membership.
Condition of Eligibility
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April 14, 2005
All full time Police Officers and Firefighters as of the effective date, and all
future new full time Police Officers and Firefighters shall become Members
of this System as a condition of employment, except that participation in this
system is optional for the Police Chief and the Fire Chief.
2. Membershia
Each full time Police Officer or Firefighter shall complete a form prescribed
by the Board which may include the following information:
A. Acceptance of the terms and conditions of the Retirement System,
and,
B. Designation of a beneficiary or beneficiaries, and,
C. A certified statement as to prior medical and/or psychological history.
3. Chanae in Designation of Beneficiary
A member may from time to time change his/her designated beneficiary by
written notice to the Board upon forms provided by the Board. Upon such
change, the rights of all previously designated beneficiaries to receive any
benefits under the System shall cease.
Section 4. Board of Trustees.
1. The sole and exclusive administration of and responsibility for the proper
operation of the retirement system and for making effective the provisions of this ordinance
is hereby vested in a Board of Trustees.
The Public Safety Board shall consist of five (5) Trustees, two (2) of whom, unless
otherwise prohibited by law, shall be legal residents of the Village, who shall be appointed
by the Tequesta Village Counal, and one (1) of whom shall be a full-time Police Officer
member of the System and one (1) of whom shall be afull-time Firefighter member of the
System. The fifth (5th) Trustee shall be selected by a majority vote of the other four (4)
Trustees. Each person seeking to fill a designated employee representative Board
member seat shall be separately elected by their full-time co workers who are members
of the System in the applicable employee representative group, e.g. Police Officer or
Firefighter in which they are employed and shall be elected by a majority of the full-time
employees who are Members of the System within the applicable employee representative
group. Upon receipt of the fifth (5th) person's name the Tequesta Village Council shall, as
a ministerial duty, appoint such person to the Public Safety Board as its fifth (5th) Trustee.
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