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HomeMy WebLinkAboutCity of Tamarac Ordinance O-2010-008Temp. Ord. #2201 March 31, 2010 Page 1 of 5 CITY OF TAMARAC, FLORIDA ORDINANCE NO.0-2010-0 k AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AMENDING CHAPTER 16, PENSIONS AND RETIREMENT, ARTICLE V, FIREFIGHTER PENSION PLAN, SECTION 16-331, MEMBERS; PROVIDING FOR FOUR YEAR TERMS OF OFFICE; AMENDING ARTICLE V, FIREFIGHTER PENSION PLAN, DIVISION 2, SECTION 16-345(A); PROVIDING FOR DIVESTITURE IN SCRUTINIZED COMPANIES; AMENDING ARTICLE VI, FIREFIGHTER PENSION PLAN, DIVISION 1, SECTION 16-423(A); PROVIDING FOR WITHHOLDING; AMENDING DIVISION 4, SECTION 16-495(C); AND PROVIDING FOR REVOCATION OF JOINT ANNUITANT OR BENEFICIARY ELECTION IN COMPLIANCE WITH CHAPTER 2009-97, LAWS OF FLORIDA; PROVIDING FOR CODIFICATION; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the 2009 Florida Legislature enacted Chapter 2009-97, Law of Florida, which mandates certain amendments to the City's Firefighter Pension Plan; and WHEREAS, an amendment to the City Code is necessary to permit such new obligations and conditions, and WHEREAS, the trustees of the City of Tamarac Firefighters' Pension Trust Fund have requested and approved such an amendment as being in the best interests of the participants and beneficiaries as well as improving the administration of the plan, and WHEREAS, the City Commission has received, reviewed and considered an actuarial impact statement describing the actual impact of the amendments provided for herein, attached as Exhibit A. WHEREAS, the City Commission of the City of Tamarac has deemed it to be in the best interest of the citizens of the City of Tamarac to amend the plan to reflect these changes. Coding: Words in StF�, euo type are deletions from existing law; Words in underscored type are additions. Temp. Ord. #2201 March 31, 2010 Page 2 of 5 NOW THEREFORE, BE IT ORDAINED by the City Commission of the City of Tamarac, Florida: Section 1. The foregoing WHEREAS clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Ordinance. All exhibits attached hereto are incorporated herein and made a specific part of this Ordinance. Section 2. Chapter 16, Pensions and Retirement, Article V, Firefighter Pension Plan, Division 2, Section 16-331, subsections (b), (c), (d) and (e), of the Tamarac Code is hereby amended as follows: (b) Appointed resident trustees shall serve terms of twe (2) four years, unless sooner replaced by the city commission at whose pleasure resident trustees shall serve. (c) Elected trustees shall serve terms of two (2-) four (41 years, unless the trustee sooner leaves firefighter employment of the city. The city clerk shall conduct the elections by secret ballot prior to the expiration of a trustee's expiring term. (d) The fifth member shall have the same rights as each of the other four members appointed or elected as herein provided, and shall serve a term of two (2) four M years. (e) A vacancy shall occur whenever_ a trustee resigns-; in the case of an appointed resident trustee as per subsection b herein is removed by the city commission-; is no longer eligible or qualified to serve as a trustee-; dies or becomes incapacitated_ (1) A vacancy in the office of an appointed resident trustee shall be filled by an appointment by the city commission to serve a new two (;�) four (4) year term. (2) A vacancy in the office of an elected trustee shall be filled by an election in the same manner as an original trustee was elected to serve a new twe (2) four (4) year term. Coding: Words in s#FUeli thFOUgh type are deletions from existing law; Words in underscored type are additions. Temp. Ord. #2201 March 31, 2010 Page 3 of 5 (3) A vacancy in the office of the trustee selected by the other four trustees shall be filled in the same manner as the original trustee was selected to serve a new four L41year term. Section 3. Chapter 16, Pensions and Retirement, Article V, Firefighter Pension Plan, Division 2, Section 16-345(a), of the Tamarac Code is hereby amended as follows: Sec. 16-345. Investments. (a) The trustees shall have the power and authority, in their sole discretion, to establish investment procedures to invest and reinvest such funds as are not necessary for current expenditures or liquid reserves, as they may from time to time determine. These investments shall be in compliance with section 175.071(1), F.S. The trustees may sell; exchange or otherwise dispose of such investments at any time and, from time to time, as provided in section 16-350. The board shall identify and publicly report an direct or indirect_ holdings it may have in anv scrutinized comaanv. as defined in Florida Statutes Section 215.473 and proceed to sell redeem divest or withdraw all publicly traded securities it ma have in such company beginning January 1 2010 and shall thereafter be prohibited from purchasing or holding such securities. The divestiture of any such security must be completed b September 30 2010. In accordance with Ch. 2009-97 Laws of Florida no person may bring any civil criminal or administrative action -against the Board of Trustees or any employee, officer, director, or advisor of such board based upon the divestiture of an security pursuant to this paragraph. The trustees shall have the authority, in respect to any stocks, bonds or other property, real or personal, held by them as trustees, to exercise all such rights, powers and privileges as might be lawfully exercised by any person owning similar stocks, bonds or other property in their own right. Section 4. Chapter 16, Pensions and Retirement, Article VI, Firefighter Pension Plan, Division 1, Section 16-423(a), of the Tamarac Code is hereby amended as follows: Sec. 16-423. Benefits not assignable. Coding: Words in StFUck thF9U type are deletions from existing law; Words in underscored type are additions. Temp. Ord. #2201 March 31, 2010 Page 4 of 5 (a) The right of any person to any payment under this pension plan shall not be subject to assignment, alienation or voluntary or involuntary transfer, and, to the fullest extent permitted by law shall not be subject to attachment, execution, garnishment, sequestration or other legal or equitable process. If any person attempts to assign, transfer or dispose of such right, or if an attempt is made to subject such right to such process, such assignment, transfer or disposition shall be null and void. Further, the recipient of any_monthly benefit may authorize the board of trustees upon written request, to withhold from the monthly benefit those funds necessary to pay for accident health and long-term care insurance premiums for the recipient, the recipient's spouse and the recipient's dependents. The pension plan shall not incur any liability for participation in such —permissive program so long as its action is taken in good faith. Section 5. Chapter 16, Pensions and Retirement, Article VI, Firefighter Pension Plan, Division 4, Section 16-495(c), of the Tamarac Code is hereby amended as follows: Sec. 16-495. Revocation of election. (c) After benefits have commenced, a retired participant may change her or his designation of joint annuitant or beneficiary up to twice in the manner prescribed in F.S. § 175.333. without the approval of the Board of Trustees or the current join annuitant or beneficia . The retiree need not provide proof of the good health of the joint annuitant or beneficia being removed and the joint annuitant or beneficia being removed need not be living. Section 6. It is the intention of the City Commission and it is hereby ordained that the provisions of this Ordinance shall become and be made part of the Code of Ordinances of the City of Tamarac, Florida, and the word "Ordinance" may changed to "Section", "Article" or such other word or phrase in order to accomplish such intention. Section 7. All Ordinances or parts of Ordinances, and all Resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict. Coding: Words in stFUslthMugh type are deletions from existing law; Words in underscored type are additions. 1 1 Temp. Ord. #2201 March 31, 2010 Page 5 of 5 Section 8. If any provision of this Ordinance or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this Ordinance that can be given affect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. Section 9. This Ordinance shall take effect upon adoption. PASSED, FIRST READING, this 1 `4 day of 2010. PASSED, SECOND READING, this e2tday of a0aIV 2010. BETH TALABISCO, Mayor ATTEST. RECORD OF COMMISSION VOTE: 1st Reading ?M'ARk0"0S_WE_ N, CM MAYOR TALABISCO l� CITY CLERK DIST 1: COMM. BUSHN LL 6 DIST 2: COMM ATKINS-GRA DIST 3: COMM. GLASSER DIST 4: COMM. DRESSLER I HEREBY CERTIFY that I have approved this ORDINANCE as to form. SAMUEL S. GOREN CITY ATTORNEY RECORD OF COMMISSION VOTE: 2nd Reading MAYOR TALABISCO DIST 1: COMM. BUSHN LL DIST 2: COMM ATKINS-GRAD DIST 3: COMM. GLASSER DIST 4: COMM. DRESSLER Coding: Words in strurak thFGU type are deletions from existing law; Words in underscored type are additions.