14-019 1 ; , ORDINANCE NO. 14 -019
2
3 AN ORDINANCE OF THE CITY COMMISSION OF THE
4 I CITY OF BOYNTON BEACH, FLORIDA, AMENDING
5 THE CITY OF BOYNTON BEACH FIREFIGHTERS
6 PENSION TRUST FUND; AMENDING SECTION 18 -179
7 EXTENDING THE TERMS OF OFFICE FOR TRUSTEES
8 FROM 2 TO 4 YEARS; PROVIDING FOR
9 CODIFICATION, SEVERABILITY, A REPEALER; AND
10 AN EFFECTIVE DATE.
11
12 WHEREAS, the Florida legislature amended Chapter 175, Florida Statutes,
13 authorizing municipalities to pass an ordinance extending the terms of office for trustees on
14 Chapter 175 pension boards from two to four years;
15 WHEREAS, the Board of Trustees of the City of Boynton Beach Municipal
16 Firefighters Pension Trust Fund has recommended the extension of trustee terms of office
17 from two to four years, and that this ordinance be approved;
18 WHEREAS, the City Commission of the City of Boynton Beach concurs with the
19 assessment of the Boards of Trustees that the adoption of this amendment is in the best
20 interests of the citizens and taxpayers of the City;
21 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF
22 THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
23 Section 1: The foregoing whereas clauses are true and correct and are now ratified and
24 confirmed by the City Commission.
25 Section 2: Section 18 -179 of the Boynton Beach City Code is hereby amended to read as
26 I follows:
27
28 Sec. 18 -179. Application of Chapter 175; Trustee Terms of Office.
29 All other provisions of F.S. Chapter 175 shall meet all the requirements and be fully
II
1 applicable, except for the provisions of this article, to the City of Boynton Beach 1
2 1 Municipal Firefighters Pension Trust Fund. The increased pension benefits in the same
I
3 � percentage of increase as provided for by this article shall apply to all firefighters now
4 receiving retirement benefits and all firefighters eligible for retirement benefits but not
5 now retired, under the provisions of the City of Boynton Beach Municipal Firefighters
6 Pension Trust Fund, F.S. Chapter 175. A retiree receiving a joint and survivor form of
7 benefit shall be permitted to change his or her beneficiary, as provided in F.S. §§
8 175.171 and 175.333. The Board of Trustees shall be governed by Section 175.061,
9 Florida Statutes. Each Trustee shall have a term of four (4) years, but may succeed
10 himself or herself in office, and shall holdover until replaced. All Trustees serving as
11 of January 1, 2014 shall have their current term extended for a two (2) year period.
12
13 Section 3: It is the intention of the City Commission, and it is hereby ordained that the
14 provisions of this Ordinance shall become and be made a part of the Code of
15 the City of Boynton Beach, that the sections of the Ordinance may be
16 renumbered or re- lettered to accomplish such intentions; and that the word
17 "Ordinance@ shall be changed to "Section@ or other appropriate word.
18 Section 4: If any clause, section, or other part or application of this Ordinance shall be
19 held in any court of competent jurisdiction to be unconstitutional or invalid,
20 such unconstitutional or invalid part or application shall be considered as
21 eliminated and shall not affect the validity of the remaining portions or
22 applications which shall remain in full force and effect.
23 Section 5: All ordinances or parts of ordinances, resolutions or parts of resolutions in
1 conflict herewith are hereby repealed to the extent of such conflict.
2 Section 6: This Ordinance shall become effective immediately upon adoption, unless
3 otherwise provided.
4 FIRST READING this 19 day of August, 2014.
5 SECOND, FINAL READING AND PASSAGE this 3 day of s'-r. , 2014.
6 CITY OF BOYN ! BEACH, FLORIDA
7
8 4 t/Lrr Al
9 . , or — e Taylo
10 t'
11 �� ,
12r —Joe Casello
13 �
14
15 Commissioner • ;y er
17
18 - ommissione - Ma 4 . 4/
19
20
21 Commissioner — Micha M. pit' patrick
22 ATTEST:
23
24
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2 Ja R:> • MMC
26
27
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29 , 'b • or 1 , - , Seal U:'
30
31 T Ohi'
32 Coding: Words in strikeout type are deletions from existing text.
33 Words in underline type are additions.
34
VOTE
Mayor Taylor - Aye
Vice Mayor Casello - Aye
Commissioner Merker - Aye
Commissioner McCray - Aye
Commissioner Fitzpatrick - Aye
5 -0
GRS Gabriel Roeder Smith Company One East Broward Blvd 954.527.1616 phone
Consultants & Actuaries & Suite 505 954.525.0083 fax
Ft. Lauderdale, FL 33301 -1804 www gabnelroeder.com
ti August 12, 2014 b° 33
CONFIDENTIAL
Ms. Barbara La Due
Pension Administrator
Renaissance Executive Suites
1500 Gateway Blvd. Suite 220
Boynton Beach, Florida 33426
Re: City of Boynton Beach Municipal Firefighters' Pension Trust Fund
Dear Barbara:
As requested, we have reviewed the proposed ordinance amending the City of Boynton Beach Municipal
Firefighters' Pension Trust Fund, received on August 5, 2014. This ordinance would amend the Fund as
follows:
• Amending Section 18 -179, Application of Chapter 175, to extend Pension Trustee terms of Office
from two (2) to four (4) years, as permitted by Section 175.051, Florida Statues. All Pension
Trustees serving as of January 1, 2014 shall have their current term extended for a two (2) year
period.
In our opinion, these changes will not have an actuarial impact on the cost. Therefore, it is our opinion that a
formal Actuarial Impact Statement is not required. A copy of this letter along with the proposed ordinance
should be sent to Trish Shoemaker's office and to the Division of Retirement before the second reading of
the ordinance.
The undersigned actuary is a member of the American Academy of Actuaries and meets the Qualification
Standards of the American Academy of Actuaries to render the actuarial opinions contained herein. The
undersigned actuary is independent of the plan sponsor.
We welcome your questions and comments.
Respectfully submitted,
ia .''
Peter N. Strong, FSA
Senior Consultant and Actuary
cc: Adam Levinson
SCANNED
•
Ms. Barbara La Due
August 13, 2014
Page 2
PS /jc
Enclosures
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Gabriel Roeder Smith & Company