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HomeMy WebLinkAboutCity of Tamarac Resolution R-2012-142Temp. Reso 12286 December 3, 2012 Page 1 of 4 CITY OF TAMARAC, FLORIDA RESOLUTION NO. 2012 / 4 2---- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO EXECUTE AN AGREEMENT WITH THE CITY OF TAMARAC GENERAL EMPLOYEES' PENSION TRUST FUND TO PROVIDE ADMINISTRATIVE SERVICES TO THE PENSION TRUST FUND AND TO PERFORM THOSE DUTIES AND RESPONSIBILITIES WHICH ARE DESCRIBED IN THIS AGREEMENT EFFECTIVE OCTOBER 1, 2012, NUNC PRO TUNC; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Section 16-69 of the City of Tamarac Code of Ordinances authorizes the City of Tamarac General Employees' Pension Trust Fund Board of Trustees to administer the pension system in all of its details and to engage professional and technical services to administer the Pension Trust Fund's operations; and WHEREAS, the proposed costs to have administrative services for the Pension Trust Fund provided by an outside firm have increased by 65%; and WHEREAS, The City of Tamarac has proposed to provide administrative services to the Pension Trust Fund Board of Trustees at no cost to the Pension Trust Fund; and WHEREAS, administration of the Pension Trust Fund by the City of Tamarac is a more cost effective method to administer the program than the use of an outside firm; and Temp. Reso 12286 December 3, 2012 Page 2 of 4 WHEREAS, the Pension Trust Fund Board of Trustees is familiar with the experience and reputation of the City of Tamarac and its Human Resources Department in providing administrative services; and WHEREAS, the Pension Trust Fund has determined that it is in the best interest of the participants and beneficiaries of the fund to engage the services of the City; and WHEREAS, both parties have agreed to the terms, conditions and covenants of an Administrative Services Agreement dated October 1, 2012, a copy of said Agreement is attached hereto as Exhibit "1"; and WHEREAS, available funds exist in the current budget with a slight enhancement proposed in FY 2013 for said purpose; and WHEREAS, the Directors of Human Resources and Financial Services recommend execution of an Administrative Services Agreement effective October 1, 2012, nunc pro tuns; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interests of the citizens and residents of the City of Tamarac to exercise an Administrative Services Agreement effective October 1, 2012, nunc pro tuns between the Retirement System and the City of Tamarac, Florida. Temp. Reso 12286 December 3, 2012 Page 3 of 4 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION L The foregoing "WHEREAS" clauses are HEREBY ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution upon adoption hereof and all exhibits attached hereto are incorporated herein and made a specific part of this resolution. SECTION 2: The appropriate City officials are hereby authorized to execute an Administrative Services Agreement (Exhibit "1 ") between the City of Tamarac General Employees' Pension Trust Fund and the City of Tamarac to allow the City of Tamarac to provide administrative services to the Pension Trust Fund effective October 1, 2012, nuns pro tuns. SECTION 3: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 4: If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5: passage and adoption. This Resolution shall become effective immediately upon its Temp. Reso 12286 December 3, 2012 Page 4 of 4 PASSED, ADOPTED AND APPROVED this 1A day of , 2012. ATTEST: PATRICIA TEUFEL, CMC INTERIM CITY CLERK I HEREBY CERTIFY THAT I HAVE APPROVED THIS RESOLUTION AS TO FORM ff 1 11 ', J�j SAMOEL S. GORLN CITY ATTORNEY I1'1a- MAYOR RECORD OF COMMISSION VOTE: MAYOR TALABISCO 64 DIST 1: COMM. BUSHNEL JK DIST 2: V/M GOMEZ DIST 3: COMM. GLAS R 642� DIST 4: COMM. DR ADMINISTRATIVE SERVICES AGREEMENT BETWEEN CITY OF TAMARAC GENERAL EMPLOYEES PENSION TRUST FUND. I;T►TD THE CITY OF TAMARAC, FLORIDA This agreement made effective on the 1st day of October, 2012, by and between the City of Tamarac General Employees' Pension Trust Fund (hereinafter referred to as '"Retirement System") and the City of Tamarac, a Florida municipal corporation (hereinafter referred to as "City'). WITNESSETH: WHEREAS, Section 16-69 of the Code of Ordinances of the City of Tamarac authorizes the Retirement System"s Board of Trustees to administer the pension system in all of its details and to engage professional and technical services to administer the Retirement System's operations; and WHEREAS, the City has proposed to provide administrative services to the Retirement System's Board of Trustees at no cost to the Retirement System; and WHEREAS, the Retirement System's Board of Trustees is familiar with the experience and reputation of the City and its Human Resources Department in rendering these services; and WHEREAS, the Retirement System has determined that it is in the best interest of the participants and beneficiaries of the fund to engage the services of the City upon the terms and conditions hereinafter set forth. NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the parties agree as follows: 1 Section 1 City A. Engagement —The Retirement System hereby engages and retains the City and the City hereby accepts the engagement and retainer by the Retirement System to serve as administrator of the Retirement System. Be Duties and Responsibilities —Without limiting the generality of the foregoing, it is mutually acknowledged and agreed that the City is engaged to perform those duties and responsibilities of the Retirement System as administrator which are delegated to it in accordance with the express terms of this agreement. C. Limitation of Authority —The City shall not: 1. Exercise any discretionary authority or discretionary control respecting the policies, management or administration of the Retirement System; or 2. Exercise any independent management or disposition except for the investment and benefits; or authority or control with respect to the of the assets of the Retirement System, of short-term cash used to pay expenses 3. Render investment advice with respect the Retirement System,, except for the used to pay expenses and benefits. Section 2 Duration to any monies or property of investment of short-term cash This agreement shall become effective on the 1st day of October, 2012 and shall continue until otherwise terminated in accordance with the terms of this agreement. Section 3 Fees There shall be no fees for the provision of administrative services by the City to the Retirement System for the duration of this agreement. N Section 4 Services The City shall be responsible for and in required of it by the Retirement System for the the fund. Without limiting the generality of the following services: � charge of all administrative services proper and complete administration of foregoing, the City shall perform the A. Attend all meetings of the Retirement System Board of Trustees, committees and subcommittees and maintain the minutes of those meetings. B. Implement all policies and administrative related decisions of the Retirement System with regard to the Retirement System's daily operations. C. Maintain all documents as may be required by the Retirement System. D. Maintain statistical data for the Retirement System,, the Retirement System's auditor and actuary, including vesting, benefit accrual, compensation and eligibility history of participants when such are needed or required. E. Assist in the preparation and filing of all necessary government reports. F. Properly, adequately and effectively respond to inquiries by active and retired participants or their beneficiaries, by the Retirement System or the Retirement System's designated service providers G. Assist in the design and development of all communications between the Retirement System and the participants. H. Attend any special meetings of the participants, as determined by the Retirement System or the City, for the purpose of assisting and explaining benefit coverage to participants and beneficiaries. I. Develop, establish and control proper procedures for the recording of all contributions, benefit payments, and disbursements of the Retirement System. 3 J. Process all applications for benefits under the fund, including applications for service -connected disability retirement, coordinating of medical appointments and transmission of medical reports to the Retirement System Board of Trustees. K. Perform such other administrative and related advisory functions and services as may from time to time be requested by the Retirement System Board of Trustees. Section 5 Obligations of City It is mutually covenanted and agreed that all services rendered by the City to or on behalf of the Retirement System shall be performed with reasonable dispatch and shall be performed in a manner which is adequate and convenient to the Retirement System and the participants and beneficiaries of the Retirement System, The City shall familiarize itself with the basic documents under which the Retirement System is established and render all services in accordance with said documents. Section 6 Records A. The City shall be responsible for assisting in the maintenance of records of the fund, including in the computer system of the City. B. In the course of performing its administrative services hereunder, the City shall notify the Retirement System of any information, records or reports which are necessary to maintain the business of the Retirement System and shall assist the Retirement System in obtaining said information. Section 7 Reports The City shall work with and assist the Retirement System and their professional advisors in the preparation of records and reports to be filed with government departments or agencies, which are necessary to be disclosed and distributed to participants and beneficiaries, and in complying with public records requests. 11 Section 8 Disclosure of Records All information, including records and other data, which may come into the possession of the City shall be subject to disclosure and production to the extent required by the Public Records Act, Chapter 119, Florida Statutes, or upon compulsion of a subpoena issued by a court of competent jurisdiction. The City shall timely respond to all public records requests received by the Retirement System and shall be entitled to keep all fees and charges paid by requesters. Section 9 Excluded Items It is understood and agreed by the parties that the City shall not be responsible for the performance of the Retirement System's outside auditing, legal or financial advisory services, except to the extent necessary to perform the City's duties hereunder. Section 10 Fidelity Bond and Insurance The City agrees to maintain an appropriate fidelity bond or employee dishonesty and errors and omissions insurance policy during the term of this agreement. The City shall provide copies of the proof of said bond and insurance to the Retirement System. Section ii Damages The City agrees it shall be liable to the Retirement System for any damages or losses, which the Retirement System or the fund may incur as the result of grossly negligent or intentional acts or omissions of the City or breach of this agreement, subject to the monetary limits set forth in Fla. Stat. 768.28. Section 12 Governing Law This agreement has since been executed in Tamarac, Florida and shall be governed and construed in accordance with the laws of the State of Florida. Venue for any dispute shall be in Broward County, Florida. In the event that any action shall be necessary for the enforcement of this agreement, the prevailing party shall recover its court costs, including reasonable attorneys fees. W1 Section 13 Entire Agreement This agreement constitutes the entire understanding and agreement by the parties hereto and shall not be modified, amended or revoked except by the express written consent of the parties. Section 14 Termination This agreement may be terminated by the Retirement System on ninety (90) days' written notice, or by the City on ninety (90) days written notice, with or without cause. In the event of a termination, the City agrees to promptly (not to exceed 30 days) turn over to the successor administrator or such other party designated by the Retirement System, all records, reports or documents belonging to the Retirement System and in possession of the City. IN WITNESS WHEREOF, the parties who caused this agreement to be executed on the date set forth. DATED at Tamarac, Florida this /4Z day of December, 2012. CITY OF PENSION. By: TAMARAC GENERAL EMPLOYEES Print Name: John Fletcher CITY,OF TAMARAC, FLORIDA [' Print Name: rol Michael C. Cernech