HomeMy WebLinkAboutResolution 86-04 RESOLUTION 86 -4
City of Ocoee, Florida
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WHEREAS, the City Board of Commissioners is
most desirous of retaining quality City employees;
and,
WHEREAS, a well proven method of keeping good
quality employees is by providing employees a pen-
sion program with full vested rights after working
for the City for a specified number of years; and,
WHEREAS, the City Board of Commissioners
demonstrated their interest and support in a
quality pension program by providing for same in
the FY '85 -'86 Budget; and,
WHEREAS, the City Board of Commissioners
further demonstrated their desire of establishing a
permanent defined benefit pension plan by their
unanimous action at the City Board of Commissioners
meeting on October 1, 1985; and,
WHEREAS, such a continuing program will have a
very positive influence on the employees of the
City.
NOW THEREFORE, be it resolved by the City Board of
Commissioners that
The City hereby agrees to enter into a Pension
Program with the Southern Business Group, of
Orlando, Florida through Joinder Agreement #002 and
the associated Plan and Trust Document creating the
City of Ocoee Defined Benefit Pension Program (non-
standard - non - integrated).
The Southern Business Group shall serve as the
Administrator of the Plan, but the City shall form
an Administrative Committee to dictate the
investment policies for the Plan.
The City's six (6) member Pension Plan Admini-
strative Committee shall be composed of: a City
Commissioner or the Mayor, as appointed by consen-
sus of the Commission; the City Manager, the City
Finance Director, a rank and file employee of the
Police and /or Fire Departments, appointed by mutual
agreement of those two department supervisors; a
rank and file employee of the Water and /or Sani-
tation Departments, appointed by mutual agreement
of those two department supervisors; and a rank
and file employee of the Street and /or Recreation
i
and/or General Government Departments, appointed by
mutual agreement of those three department super-
visors (City Clerk is Supervisor of the General
Government Department).
Any disputes in appointments shall be
rectified by decision of the City Manager, and said
decision may be appealed to the City Board of
Commissioners, if desired by a department
supervisor or the employees involved in the dispute.
All appointees shall serve for one year on
this Administrative Board, from October 1 until
September 30. At that time the appointee may be
re-appointed, or another eligible person may be
appointed.
Initially, this panel will serve from the date
of this Resolution until September 30, 1986, at
which time they may be re-appointed, or asked to
give up their seat to another eligible person.
This Administrative Board will operate under
the guidelines provided in the Plan documents.
DONE AND RESOLVED THIS 4th DAY OF MARCH, 1986
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CITY CLERK
MAYOR