11-19-2020 Special Commission Meeting Agenda City Manager
City Commission Ronald J.Wasson
Enid Weisman,Mayor
Jonathan]Evans,Commissioner ;;! City Clerk
Rachel S.]Friedland,Commissioner E11isa L.LTorvarl� MMC
Denise Landman,Commissioner
j
Dr.Linda Marks,Commissioner City Attorney
Marc Narotsky,Commissioner �� Weiss Scrota Hellman
Robert Shelley,Commissioner e � Cole&Bierman
CITY COMMISSION
SPECIAL MEETING AGENDA
NOVEMBER 19, 2020
9:00 a.m.
Via Virtual Communications Media Technology
This meeting shall be held via virtual communications media technology as made necessary by
the continued state and local emergency. Because of the continued COVID-19 pandemic, and
the need to ensure the public health, safety and welfare, this meeting will be conducted remotely
via Zoom.
Due to the on-going state of emergency and the recommendations from all public health
authorities, the City of Aventura recommends that all persons view and participate in the meeting
through electronic means. Members of the public wishing to access the meeting, please do so as
follows:
Join the Zoom Meeting from your computer, tablet, or smartphone at:
Zoom.us/join
Meeting ID: 821 0209 7172
You can also dial in using your phone to the any of the following numbers:
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Meeting ID: 821 0209 7172
Members of the public will be able to provide comments via audio when directed by the Mayor to
do so. Please tap the screen on your cellphone or tablet, or move your mouse on your computer,
to view an option to raise your hand. Tap or click on the "raise hand" icon displayed to raise your
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Mayor there are public comments and will notify you when it is your turn to speak by turning your
microphone on. Speakers will be provided three minutes to provide comments.
Comments can also be provided via email to the City Clerk at cityclerk@cityofaventura.com by
November 9, 2020 at 6:00 p.m. Comments received will be provided to the City Commission.
Please list the item you are providing a comment for in your email.
City Manager
City Commission Ronald J.Wasson
]Enid Weisman,Mayor ���
Jonathan]Evans,Commissioner City Clerk
Rachel S.Friedland,Commissioner „: Elllisa L.Horvath,MMC
Denise Landman,Commissioner �
Dr.Linda Marks,Commissioner City Attorney
Marc Narotsky,Commissioner Weiss Scrota IdeiF7nan
Robert Shepley,Commissioner e�✓ Cole&Bierman
CITY COMMISSION
SPECIAL MEETING AGENDA
NOVEMBER 19, 2020
9:00 a.m.
Via Virtual Communications Media Technology
1. CALL TO ORDER\ROLL CALL
2. ORDINANCE - SECOND READING/PUBLIC HEARING:
AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING
CHAPTER 36 "RETIREMENT", ARTICLE II "POLICE PENSION PLAN AND
TRUST FUND", BY AMENDING SECTION 36-31 "COMPLIANCE WITH
INTERNAL REVENUE CODE", TO PROVIDE FOR COMPLIANCE WITH THE
SECURE ACT; PROVIDING FOR REPEAL; PROVIDING FOR SEVERABILITY;
PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN
EFFECTIVE DATE.
3. ADJOURNMENT.
This meeting is open to the public.In accordance with the Americans with Disabilities Act of 1990,all persons who are
disabled and who need special accommodations to participate in this meeting because of that disability should contact
the Office of the City Clerk, (305) 466-8901 or cityclerk@cityofaventura.com, not later than two days prior to such
proceedings. One or more members of the City of Aventura Advisory Boards may participate in the meeting. Anyone
wishing to appeal any decision made by the Aventura City Commission with respect to any matter considered at such
meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim
record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be
based. Agenda items are available online at cityofaventura.com for viewing and printing,or may be requested through
the Office of the City Clerk at(305)466-8901 or cityclerk@cityofaventura.com.
CITY OF "ENTURA
OFFICE OF THE CITY MANAGER
MEMORANDUM
TO: City Commission _
FROM: Ronald J. Wasson, City Manager —
DATE: November 6, 2020
SUBJECT: Ordinance that Amends Chapter 36 "Retirement," Article II "Police
Pension Plan and Trust Fund," to Comply with the Recently Enacted
Setting Every Community Up for Retirement Enhancement
("SECURE") Act
November 10, 2020 City Commission Meeting Agenda Item 913
November 19, 2020 City Commission Special Meeting Agenda Item 2
RECOMMENDATION
It is recommended that the City Commission approve the attached Ordinance that
amends the "Police Pension Plan and Trust Fund" (the "Plan") in a manner consistent
with federal tax law changes made in accordance with the recently enacted SECURE Act.
The Ordinance was drafted by the Plan's attorney and the Police Pension Board has
requested that this Ordinance be adopted. It was reviewed by the City Attorney.
BACKGROUND
On December 20, 2019, the federal SECURE Act was signed into law, which included
several changes to the Internal Revenue Code designed to encourage employee
retirement saving. Among the changes is an increase in the age for required minimum
distributions ("RMDs") from 70 '/2 to 72. RMDs are the minimum amounts an employee
must annually begin receiving from the Plan, with the rationale being that the deferred tax
treatment of retirement benefits has its temporal limits. Before the SECURE Act, plan
members could delay taking RMDs until age 70 '/2. The SECURE Act increased the age
to 72, with a January 1, 2020 effective date. Therefore, for those employees who turn 70
'/2 on and after January 1, 2020, the RMD is age 72. For those employees who already
reached 70 '/2 before January 1, 2020, the old rule applies so they are not affected by the
change.
SUMMARY
The Ordinance reflects the increase in age for RMDs to 72, and also reflects the effective
date of the SECURE Act by making the change inapplicable to those plan members who
reached age 70 '/2 before January 1, 2020. All other provisions of the Plan remain in full
force and effect.
CCO1942-20
AWIF FOSTER& FOSTER
Caw
October 19,2020
VIA EMAIL
----------------------
Ms. Lauri Patterson
Benefits USA
3810 Inverrary Blvd., Suite 303
Lauderhill. FL 33319
Re: City of Aventura
Police Officers' Retirement Plan
In response to your email dated October 13, 2020, we have reviewed the proposed Ordinance amending the plan
to increase the required minimum distribution age frorn 70 12to 72 for those who have not reached age 70 V2on
December 31, 2019, as required by the Internal I-' evenue Code. We have determined that its adoption will have
no impact on the assumptions used in deten-nining the funding requirements of the program,
Because the changes do not result in a change in the valuation results, it is our opinion that a fonnal Actuarial
Impact Statement is not required in support of its adoption. However, since the Division of Retirement must be
aware of the current provisions of all public pension programs, it is recommended that you send a copy of this
letter and a copy of the fully executed Ordinance to each of the following offices;
Mr. Keith Brinkman
Mr. Steve Bardin
Bureau of Local Retirement Systems
Municipal Police and Fire
Division of Retirement
Pension Trust Funds
P. O. Box 9000
Division of Retirement
Tallahassee, FL 32315-9000
P.O. Box 3010
Tallahassee, FL 32315-3010
The undersigned is familiar with the immediate and long-term aspects of pension valuations, and meets the
Qualification Standards of the American Academy of Actuaries necessary to render the actuarial opinions
contained herein,
If you have any questions, please let me know.
Sincerely,
Patrick T. Donlan, ASA, EA, MAAA
13420 Parker Commons Blvd., Suite 104 Fort Myers, FL 33912 - (239) 433-5500 - Fax (239) 481-0634 - nww.foster-foster.com
ORDINANCE NO. 2020-
AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING
CHAPTER 36 "RETIREMENT", ARTICLE II "POLICE PENSION PLAN
AND TRUST FUND", BY AMENDING SECTION 36-31 "COMPLIANCE
WITH INTERNAL REVENUE CODE", TO PROVIDE FOR COMPLIANCE
WITH THE SECURE ACT; PROVIDING FOR REPEAL; PROVIDING FOR
SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Aventura (the "City") maintains a defined benefit pension
plan for its certified police officers, which is known as the City of Aventura Police Officers'
Retirement Plan ("Retirement Plan"), and which is codified in Chapter 36 of the City Code;
and
WHEREAS, the Setting Every Community Up for Retirement Enhancement
("SECURE") Act, signed into law on December 20, 2019, amended the definition of
"Required Beginning Date" under Section 401(a)(9) of the Internal Revenue Code; and
WHEREAS, amendments to the Plan are necessary to conform the Retirement
Plan to the requirements of the SECURE Act; and
WHEREAS, the Board of Trustees of the City of Aventura Police Officers'
Retirement Plan has recommended an amendment to the Retirement Plan to comply with
the SECURE Act; and
WHEREAS, the trustees of the City of Aventura Police Officers' Retirement Plan
have requested and approved the amendments provided herein as being in the best
interests of the participants and beneficiaries and improving the administration of the
Plan; and
WHEREAS, the City Commission has received and reviewed an actuarial
impact statement related to this change and attached as such; and
WHEREAS, the City Commission deems it to be in the public interest to provide
this change to the Retirement Plan for its police officers;
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF AVENTURA, FLORIDA'-
Section 1. That each of the above-stated recitals are hereby adopted and
confirmed.
Words in strikeett type are deletions from existing text and words in underline type are additions to
existing text.
City of Aventura Ordinance No. 2020-
Section 2. That Chapter 36 "Retirement," Article II "Police Pension Plan and
Trust Fund," Section 36-31, "Compliance with the Internal Revenue Code",
subparagraph (b), Required beginning date, of the City Code of Ordinances be
amended as follows-
Sec. 36-31. - Internal Revenue Code Compliance.
(b) Required beginning date. Notwithstanding any other provision of the
plan, payment of a participant's retirement benefits under the plan shall
commence not later than the participant's required beginning date, which is
defined as the later - -
(1) With regard to distributions required to be made to a
participant who reaches age 70'/2 before January 1 , 2020: April
1 of the calendar year that next follows the calendar year in
which the participant attains or will attain the age of 70'/2 years-,
or April 1 of the calendar year that next follows the calendar year
in which the participant retires.-, whichever is later.
(2) With regard to distributions required to be made on or after
January 1. 2020 to a participant who reaches the age of 701/2 on or
after said date: April 1 of the calendar year that next follows the
calendar year in which the participant attains or will attain the age
of 72 years, or April 1 of the calendar year that next follows the
calendar year in which the participant retires, whichever is later.
Section 3. Repeal. All sections or parts of sections of the Code of Ordinances
of the City of Aventura, all ordinances or parts of ordinances, and all resolutions or
parts of resolutions in conflict herewith, be and the same are hereby repealed to the
extent of such conflict.
Section 4, Severability. Should any section or provision of this Ordinance, or
any paragraph, sentence or word, be declared by a Court of competent jurisdiction to
be invalid, such decision shall not affect the validity of the remainder hereof, as a whole
or a part hereof, other than the part declared to be invalid.
Section 5. Inclusion in the Code. It is the intention of the City Commission of
the City of Aventura that the provisions of this Ordinance shall become and be made a
part of the Code of Ordinances of the City of Aventura and that the sections of this
Page 2 of 4
City of Aventura Ordinance No. 2020-
Ordinance may be renumbered or relettered and the word 'ordinance" may be
changed to "Chapter", "Section", "Article", or such other appropriate word or phrase,
the use of which shall accomplish the intentions herein expressed.
Section 6. Effective Date. This Ordinance shall be effective upon
passage by the City Commission on second reading.
The foregoing Ordinance was offered by Vice Mayor Shelley, who moved its
adoption on first reading. This motion was seconded by Commissioner Dr. Marks and
upon being put to a vote, the vote was as follows:
Commissioner Jonathan Evans Yes
Commissioner Rachel S. Friedland Yes
Commissioner Denise Landman Yes
Commissioner Dr. Linda Marks Yes
Commissioner Marc Narotsky Yes
Vice Mayor Robert Shelley Yes
Mayor Enid Weisman Yes
The foregoing Ordinance was offered by Commissioner who moved its
adoption on second reading. This motion was seconded by Commissioner and
upon being put to a vote, the vote was as follows:
Commissioner Jonathan Evans
Commissioner Rachel S. Friedland
Commissioner Denise Landman
Commissioner Dr. Linda Marks
Commissioner Marc Narotsky
Vice Mayor Robert Shelley
Mayor Enid Weisman
PASSED on first reading this 10t" day of November, 2020.
PASSED AND ADOPTED on second reading on this 19t" day of November, 2020.
Page 3 of 4
City of Aventura Ordinance No. 2020-_
ENID WEISMAN, MAYOR
ATTEST:
ELLISA L. HORVATH, MMC
CITY CLERK
APPROVED AS TO LEGAL SUFFICIENCY:
CITY ATTORNEY
Page 4 of 4