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Agenda Item
13. #O1784 FIRST READING of Temp. Ord. #O1784 amending Chapter 15, Article V, of the City Code of the City of Miramar governing the General Employee Pension Plan and Article VI of the City Code governing the Management Pension Plan; merging the Management Plan into the Consolidated Plan; amending Plan definitions in Section 15-261 to create the City of Miramar Consolidated Retirement Plan and Trust Fund; amending conditions of eligibility in Section 15-262; amending Section 15-265 to close the former Management Plan to new employees; amending Section 15-271 to delete outdated language; amending Section 15-286 to provide for a nine member board of trustees; amending Section 15-287 to provide for four year terms of office; amending Section 15-290 to provide that five votes shall be necessary for a decision; amending Section 15-312 to delete obsolete language; amending Section 15-337 to delete the six month limitation on repaying withdrawn member contributions; amending Section 15-341 based on new plan definitions; creating a new Division 5 (Sections 15-342 to 15-347) to restate Management Plan Benefits within the Consolidated Plan, close the Management Plan and transfer assets to the Consolidated Plan; deleting former Management Plan Sections 15-350 through 15-361; providing for severability; providing for codification; and providing for an effective date. (Human Resources Director Randy Cross)
SECOND READING SCHEDULED for February 16, 2022