File #: #O1714    Version: Name: O1714, Firefighters Pension Plan - DROP Beneficiary
Type: Ordinance Status: Agenda Ready
File created: 10/18/2018 In control: CITY COMMISSION REGULAR MEETING
On agenda: 1/16/2019 Final action:
Title: SECOND READING of Temp. Ord. #O1714 amending City Code of Ordinances Chapter 15 "Pensions", Article III "Firefighters' Pension Plan and Trust Fund", Section 15-77, to amend the definition of beneficiary to allow for a trust to be named as a beneficiary of the DROP and share accounts, Section 15-92, to add language regarding death of a DROP participant and amend language explaining the lump sum option of distribution, and Section 15-93, to add language regarding non-spouse beneficiaries of share accounts and the lump sum option for distribution; providing for conflicts; providing for severability; providing for codification; providing for an effective date. (Passed 1st Reading on 11/28/18) (Human Resources Director Randy Cross)
Attachments: 1. O1714 2nd Reading Firefighters Pension Plan - DROP Beneficiary with backup, 2. O1714 1st Reading Firefighter Pension Code Amendment with backup

CITY OF MIRAMAR

PROPOSED CITY COMMISSION AGENDA ITEM

 

Item Description:

Title

SECOND READING of Temp. Ord. #O1714 amending City Code of Ordinances Chapter 15 “Pensions”, Article III “Firefighters’ Pension Plan and Trust Fund”, Section 15-77, to amend the definition of beneficiary to allow for a trust to be named as a beneficiary of the DROP and share accounts, Section 15-92, to add language regarding death of a DROP participant and amend language explaining the lump sum option of distribution, and Section 15-93, to add language regarding non-spouse beneficiaries of share accounts and the lump sum option for distribution; providing for conflicts; providing for severability; providing for codification; providing for an effective date. (Passed 1st Reading on 11/28/18) (Human Resources Director Randy Cross)