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AGENDA ITEM SUMMARY FORM * File ID: #5434 Date: 01/24/2019 Requesting Department: City Manager's Office Commission Meeting Date: 02/14/2019 Sponsored By: Type: Ordinance District impacted: All Subject: ify - Gese Pension PURPOSE OF ITEM: An ordinance of the Miami City Commission Amending Chapter 40/Article Iv/Division 3 of the Code of the City of Miami, Florida, as amendad, entitiad “PersannelPensionand Retirement Plan/City of Miami General Employees’ Sanitation Employees Retirement Trust,” more particularly by amending Sections 40-241 and 40-255, entitled “Definitions” and “Benefits,” respectively, to amend the multiplier and the Rule of (70) Retirement; containing a severability clause; and providing for an immediate effective date. BACKGROUND INFORMATION: Pursuant to Resolution No. 17-0503, adopted on October 26, 2017, the City Commission approved a Collective Bargaining Agreement between the City of Miami (City") and the employee organization known as the American Federation of State, County, and Municipal Employees, AFL-C1O, Local 871, for the period of October 1, 2017 through September 30, 2020, which modified certain benefits of the collective bargaining unit. Pursuant to Resolution No. 18-0413, adopted on September 27, 2018, the City Commission approved a Collective Bargaining Agreement between the City and the employee organization known as the Miami General Employees American Federation of State, County, and Municipal Employees Local 107, AFL-CIO for the period of Cctober 4, 2017 through September 30, 2020 and the Memorandum of Understanding (“MOU") concerning the pension multiplier dated August 9, 2018, both of which modified certain benefits of the collective bargaining unit. Therefore, it is necessary to amend Chapter 40, Article IV, Division 3 of the Code of the City of Miami, Florida, as amended (‘City Code"), to reflect said changes. Budget Impact Analysis Item is an Expenditure Item is NOT Related to Revenue Item is NOT funded by Bonds ty Commission “Tedd B. Hanon eating Pending e/14/2010 800 AM Sayer team City of Mia sero rato Legislation Mam FES Ordinance peice eaters easy Enactment Number File Number: 6434 Final Action Date: AN ORDINANCE OF THE MUA CITY COMMISSION AMENDING CHAPTER 40/ARTICLE IVIDIVISION 3 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENOED. ENTITLED "PERSONNEL/PENSION AND RETIREMENT PLANICITY OF MIAMI GENERAL EMPLOYEES’ SANITATION EMPLOYEES RETIREMENT TRUST.” MORE PARTICULARLY BY AMENDING SECTIONS 40-241 AND 40-265, ENTITLED “DEFINITIONS” AND “BENEFITS,” RESPECTIVELY, TO AMEND THE MULTIPLIER AND ‘THE RULE OF (70) RETIREMENT; CONTAINING & SEVERABILITY CLAUSE, AND PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE. WHEREAS, pursuant to Resolution No, 17-0503, adopted en October 26, 2017, the City Commission approved a Collective Bargaining Agreement between the City of Miami (‘City’) and the employee organization known as the American Federation of State, County, and Municipal Employees, AFL-CIO, Locel 871, for the period of October 1, 2017 through September 30, 2020, which modified certain benefits of the collective bargaining unit; and. WHEREAS, pursuant to Resolution No. 18-0413, adopted on September 27, 2018, the City Commission approved 2 Collective Bargaining Agreement between the City and the employee organization known as the Miami General Employees American Federation of State, County, and Municipal Employees Local 1807, AFL-CIO for the period of October 1, 2017 through September 30, 2020 and the Memorandum of Understanding ("MOU") conceming the pension multiplier dated August 9, 2078, both of which modified certain benefits of the collective bargaining unit; and WHEREAS, it is necessary to emend Chapter 40, Article IV, Division 3 of the Code of the City of Miami, Florida, as amended ("City Code"), to reflect said chang NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Ordinance are adopted by reference and incorporated as if fully set forth in this Section. Section 2. Chapter 40, Article IV, Division 3 of the City Code in the following particulars:* "CHAPTER 40 PERSONNEL ARTICLE IV, PENSION AND RETIREMENT PLAN ' Words andior figures stricken through shall be deleted. Underscored words andr figures shall be added. The remaining provisions are naw in effect and remain unchanged. Asterisks indicate omitted and hy of Rear Tite Sasa (Revision) Printed On! BOEOTS DIVISION 3. CITY OF MIAMI GENERAL EMPLOYEES’ AND SANITATION EMPLOYEES’ RETIREMENT TRUST ‘Sec. 40-241, Definitions. The following words and phrases as used in this division shall have the following meanings: Average final compensation shell have @ meaning dependent upon the date of hire and the date of termination of service of the member. The periods of time far which average final compensation is determined are: (a) For members wno became employed before May 24, 1964, and whose active membership in the Plan did not caase before May 23, 1985. In the case of such members, average final compensation shall mean the highest campensation of that member during any one year of membership service. The highest one year of ‘compensation shall not exceed the second highest year of compensation by more than 15 percent excluding any difference due to longevity, anniversary and negotiated ‘cost of living increases. The term "year shall be calculated using the highest 12 months of compensatian, but the months need not be consecutive average-of the highest four-years- of membership-servioe-and4F or members who retire on or after Octeber 1, 2012, the average of the highest five (5) years of the last ten (10) years of membership service. Provided, in no event shail the average final compensation of any member who is empiayed on September 30, 2010 and retires on of after October 1, 2010, be less than the member's average final compensation as of the date of the plan change. 4, 2018, average final compen: 7 hi one (1) year of compensation, Bigg) a a Sl) Pr OFF TOOT