93-2877 Ordinance
ORDINANCE NO.
93-2877
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, AMENDING
ORDINANCE NO. 89-2603, WHICH CREATED THE
UNCLASSIFIED EMPLOYEES AND ELECTED OFFICIALS
RETIREMENT SYSTEM; AMENDING THE POWERS OF THE
BOARD OF TRUSTEES, MODIFYING THE DUTIES OF THE
FINANCE DIRECTOR, PROVIDING FOR A BOARD
APPOINTED ADMINISTRATOR, PROVIDING FOR A
REPEALER, SEVERABILITY AND AN EFFECTIVE DATE.
Whereas, the Board of Trustees of the Unclassified Employees
and Elected Officials Retirement System of the city of Miami Beach,
Florida has requested the ability to employ an Administrator under
the joint supervision of its Board and the Board of Trustees of the
General Employees Retirement System; and
Whereas, the Mayor and city Commission wish to make this
change and others to the Pension Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA:
section 1
Article 7, section 7.05, is amended as follows:
7.05
a Chairman.
entitled to
The Board shall
a Vice Chairman and
one (1) vote.
annually elect from its membership
a Secretary. Each trustee shall be
section 2 Article 7, section 7.06, is amended by adding
subsection "q", stating as follows:
19l The Board of Trustees may appoint an Administrator of the
pension system and fix the terms of employment of such
Administrator who shall serve at the pleasure of the
Board.
Section 3 Article 9, section 9.01, is amended as follows:
9.01 Finance Director
Pension Administrator
The Finance Director Pension Administrator shall have the
responsibility for the administration of the Unclassified System.
As such, he will have responsibilities which shall include, but not
necessarily be limited to, the duties specified in this section
9.01.
(a) The Finance Director Pension Administrator shall
establish and maintain records on all persons covered
under the Unclassified System.
(b) The Finance Director Pension Administrator shall verify
the amounts entered by the Payroll Department as
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deductions for contributions by Employees to the
Unclassified System and shall certify all payrolls on
which such deductions are entered.
(c) The Finance Direotor Pension Administrator shall receive
applications for retirement and other benefits, compute
the retirement allowances, pension and lump sum
settlements, compute and credit interest to individual
accounts and make such analysis, computations and other
determinations and records as the Board may deem
necessary for the efficient operation of the Unclassified
System.
(d) It shall be the duty of the Fin~noe Direotor Pension
Administrator to notify the Board of any new Members,
withdrawal of Members, applications for retirement and
lump sum payments, and other such personnel information
as the Board may require.
(e) The Fin~noe Direotor ohall be the oUDtodian of the aDDetD
of the Unclassified Cystem and shall furnish bond or
Durety therefor aooeptable to the Bo~rd. He Dhall depoDit
all cash on hand in regularly designated depositories of
the city and Dhall require ourety or collateral therefor
as is required by the Charter or Ordinances of the City
for other fundD of the City, and Dhall hold ~ll
investments under j oint custody of himoelf and the Board.
-U:U +f7- The Finance Direotor Pension Administrator shall maintain
the necessary to show receipts by payroll deductions,
City contributions, donations and investment returns, to
show disbursements for retirement allowances, pensions
and lump sum settlements. He shall also keep other
financial records of the monies and investments of the
Unclassified System as the Board deems necessary.
iil ~ All payments from the funds of the Unclassified System
shall be made by the Chief Aooountant Pension
Administrator only upon vouchers signed by the Finance
Direotor Chairman of the Board. A duly attested copy of
the resolution of the Board bearing on its face a
specimen signature of the Chief Aooountant Pension
Administrator shall be filed as authority for making
payments upon such vouchers. No voucher shall be drawn
unless it shall have been previously authorized by
resolution of the Board, except that the Board may, by
resolution authorize the Finance Director to issue
vouchers for refunds of Accumulated Employee
contributions in accordance with section 5.07 and for
minor adjustments in contributions by Employees.
i9l fftt For the purposes of meeting current disbursements, cash
equal in amount, as nearly as practicable, to the regular
demands for the ensuing month, shall be kept available in
deposit.
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Section 4 Article 9 is amended by adding section 9.03, Finance
Director, as follows:
9.03 Finance Director
igl The Finance Director of the city shall be the custodian
of the assets of the System and shall furnish bond or
surety therefor acceptable to the Board. He shall deposit
all cash on hand in reqularlY desiqned depositories of
the city and shall require surety or collateral therefor
as is required by the Charter or Ordinances of the city
for other funds of the city. and shall hold all
investments in i oint custody between himself and the
Board.
lQl with reSDect to the duties contained herein. the Finance
Director shall be considered a fiduciary of the System.
section 5 All Ordinances or parts of Ordinances in conflict
herewith shall be and the same are hereby repealed.
section 6 In the event any article, section, paragraph,
sentence, clause or phrase of this Ordinance shall be adjudicated
invalid or unconstitutional, such adjudication shall in no manner
affect the articles, sections, paragraphs, sentences, clauses or
phrases of this Ordinance, which shall remain in full force and
effect as fully as if the item so adjudged invalid or
unconstitutional, was not originally a part hereof.
section 7 This Ordinance sha.ll take effect on December 1, 1993
after its adoption on second reading.
L-~
commission of
of October
PASSED AND ADOPTED by the Mayor and
the City of Miami Beach, Florida th's 6th
1993.
--
Attest:
City Clerk
1st reading 9/22/93
2nd reading 10/6/93
FORM APPROVED
LEGAL DEPT.
--=:lc- '9
By
..l2.~~~~
Date
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CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
CITY OF MIAMI BEACH
OFFICE OF THE CITY MANAGER
TELEPHONE: (305) 673-7010
FAX: (305) 673-7782
COMMISSION MEMORANDUM NO. 5ifl- 9 "3
October 6, 1993
To: Mayor Seymour Gelber and
Members of the City Commission
From:Roger M. Carlto~ .~
City Manager -Vu
Subject:
Changes to the Unclassified Employees and Elected Officials Retirement
System Ordinance
Recommendation:
The Administration recommends that the City Commission adopt this Ordinance
after a public hearing and second reading.
Analysis:
On October 7, 1993 Ordinance 88-2603 which governs the Unclassified Employees
and Elected Officials Retirement System was amended to cause the expenses of the
Board for the operations of the System to be paid from the System. The expenses are
estimated to total $250,000 for the 1992/93 fiscal year and are budgeted to be $245,000
for fiscal year 1993/94. This change was made to assure that the expenses of the System
were incorporated in the decision making process of the Board. The Board of Trustees
of the System have requested that the Ordinance be changed to allow them to hire an
Administrator to conduct the day to day affairs of the System. The Board prefers to have
this control over the operations rather than having the Finance Director of the City be
named as the Administrator in the Ordinance. As it is normal procedure to maintain
autonomy of the pension governance process, this request is supported by the
Administration.
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DATE
R-3-B
IO-l,- Cf3
1
AGENDA
ITEM
The attached Ordinance provides the ability to the Board to employ their own
Administrator and sets out the powers and duties of the Administrator. The Finance
Director of the City will continue to serve as custodian of the assets of the System as in
the past. Additional changes affected by this Ordinance are to include a provision for the
position of Vice-Chairmen of the Board and for annual elections of the officers of the
Board.
Although this Ordinance would allow the Board of Trustees to employ its own
Administrator, the Boards of Trustees of the Unclassified Employees and Elected Officials
Retirement System and the General Employees' Retirement System of the City of Miami
Beach have agreed to jointly employ a single Administrator who will serve both Systems.
Conclusion:
The employment of a full time Administrator jointly reporting to the Board of
Trustees of both pension systems will have a positive impact on controlling the operating
costs incurred by the two Plans.
RMC/RJN/me
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