HomeMy WebLinkAboutResolution 549 Pension Trust Fund
RESOLUTION NO. 549
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA,
AUTHORIZING THE PARTICIPATION IN THE FLORIDA MUNICIPAL
PENSION TRUST FUND; SEVERABILITY, CONFLICTS AND
EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Winter Springs, Florida,
adopted Ordinance No. 273 which provides for the Pension Plan for the employees
of the City of Winter Springs, Florida, and
WHEREAS, the City Commission of the City of Winter Springs, Florida,
has deemed it to be in the best interest of the employees of the City of Winter
Springs to authorize the participation in the Florida Municipal Pension Trust
Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF WINTER SPRINGS, FLORIDA:
SECTION I - That the City of Winter Springs is hereby authorized to
participate in the Florida Municipal Pension Trust Fund.
SECTION II - The City of Winter Springs is hereby authorized to
sign the Trust Joinder Agreement between the City of Winter Springs, Florida,
and the Board of Trustees of the Florida Municipal Pension Trust Fund.
SECTION III - All resolutions or parts of resolutions in conflict
with this resolution are hereby repealed.
SECTION IV - This resolution shall remain in force and effect until
supplemented, amended, repealed or otherwise altered.
SECTION V - This resolution shall take effect immediately upon
passage and adoption.
Passed and adopted this 10th day of November, 1986.
CITY OF WINTER SPRINGS, FLORIDA
JOHN V. TORCASO, MAYOR
ATTEST:
Mary T. Norton
CITY CLERK
THE RETIREMENT PLAN OF THE
CITY OF WINTEIt SPRINGS, FLORIDA
TRUST JOINDER AGREEMENT
THIS AGREEMENT, between the City of Winter Springs,
Florida, (herein called the "Employer"), and The Board of
Trustees of the Florida Muncipal Pension Trust Fund, (herein
called the "Trustees"):
WITNESSE T H
WHEREAS, the Employer desires to provide Retirement
Benefits for the sole and exclusive benefit of its Employees and
Beneficiaries, and for such purposes has adopted an Ordinance on
the 22nd day of February. 1983, providing for the terms and
conditions of such Benefits, and
WHEREAS, such Ordinance and the Retirement Plan are
intended to be in compliance with the laws of the State of
Florida, and
WHEREAS, the Employer has adopted a Resolution
authorizing the participation in the Florida Municipal Pension
Trust Fund, (herein called the "Fund"), and further authorizes
the execution of this Agreement, and
WHEREAS, the Employer has petitioned for and been
accepted by the Trustees as a participating employer in the
Fund,
NOW, THEREFORE, in consideration of the mutual covenants
and agreements flowing to each of the parties hereto, it is
agreed as follows:
1. The Employer shall make contribution. based upon its
plan benefit formula and the terms of its trust into
a depository designated by the Trustees.
2. The Employer shall timely remit administrative fees
as may be from time to time mutually agreed upon by
the parties in writing into a depository designated
by the Trustees.
3. The Employer agrees to provide all initial and
update of all relevant employee information,
including but not limited to birthdates, years of
service, covered compensation and appropriate
addresses to the Professional Administrator
designated by the Trustees. The Employer shall
certify said information to be correct to the best
of their knowledge and the Trustees shall have the
right to rely on the accuracy of said information in
performing its contractual responsibilities.
4. The Employer has a responsibility to provide to the
Professional Administrator designated by the
Trustees, in a timely manner, all information
concerning employee termination including but not
limited to date and reason for termination (e.g.
death, disability, retirement, resignation or
dismissal). If the reason for termination is
disability and the employee is claiming disability
benefits, it shall be the sole responsibility of the
Employer to ascertain eligibility through the
procedures enumerated in their pension plan.
The Employer shall certify that the information
required to be provided in this Section is true and
correct and the Trustees shall have the right to
rely on the accuracy of said information in
performing its contractual responsiblities.
5. Both parties to this Agreement agree to abide by the
terms, duties, rights and obligations of all parties
which are set forth in the Master Trust Agreement of
the Florida Municipal Pension Trust Fund, referenced
herein and a copy attached hereto.
6. Either party may terminate this Agreement by giving
120 days notice in writing to the other party. Upon
termination the funds held by the Trust for the
Employer shall be returned to the Employer based
upon the accumulated share of the Employer as
determined by the last valuation date prior to
termination.
IN WITNESS WHEREOF, the Employer has caused its Seal and
the signatures of its authorized officers to be affixed
this 13d day of November, 1986.
CITY OF WINTER SPRINGS, FLORIDA
By: RICHARD ROZANSKY
CITY MANAGER
THE FLORIDA MUNICIPAL PENSION TRUST FUND
By: RAYMOND C. SITTIG
SECRETARY-TREASURER
ATTEST:
Mary T. Norton
(SEAL)