Ordinance No. 2020-14 Amending Police Pension Plan and Trust Fund Sec. 36-31 Security Act Provisions - November 19, 2020 ORDINANCE NO. 2020-14
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 stfikeettt type are deletions from existing text and words in underline type are additions to
existing text.
City of Aventura Ordinance No. 2020-14
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 ateref: -
(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 70'/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
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City of Aventura Ordinance No. 2020-14
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 Dr. Marks, who moved its
adoption on second reading. This motion was seconded by Commissioner Evans 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
PASSED on first reading this 10th day of November, 2020.
PASSED AND ADOPTED on second reading on this 19th day of November, 2020.
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City of Aventura Ordinance No. 2020-14
ENID WEISMAN, MAYOR
•
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ATTEST:
ELLISA L. HORVATH, MMC
CITY CLERK
APPROVED AS TO LEGAL SUFFICIENCY:
V4 k� 14-1v -
CITY ATTORNEY
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