Placement: Consent Agenda
Action Requested: Motion / Vote
title
Appointment of Police Pension Board 5th Member Trustee
body
Submitted By: Sandra Steele, Retirement Division Manager
Executive Summary: Pursuant to Section 185.05(1)(a), Florida Statutes, and as set forth in Section 32.77 of the City's Code of Ordinances, the Police Officer's Retirement Trust Fund Board of Trustees ("Board") is comprised of five members. The fifth Trustee shall be chosen by a majority of the previous four Trustees. Upon receipt of the fifth person's name, the City Council shall, as a ministerial duty, appoint such person to the Board of Trustees as its fifth Trustee. Mr. Paul Griffith has been recommended by the Board to serve a four-year term.
Presentation Information: N/A
Staff Recommendation: Move that the City Council confirm Board of Trustees' recommendation to appoint Paul Griffith for a four-year term on the Municipal Police Officer's Retirement Trust Fund Board of Trustees.
Alternate Recommendations:
1. Move that the Council complete motion in the affirmative.
Background: The vacancy in question was the result of the prior fifth Member Trustee resigning from the position.
Issues/Analysis: The Board is the plan administrator of, and fiduciary to, the City's police pension plan. Per the relevant portions of the City Code, the fifth Member Trustee does not need to be a resident of the city. The fifth Member Trustee shall be chosen by a majority of the previous four Trustees, and such a person's name must be submitted to the City Council. Upon receipt of the fifth person's name, the City Council shall, as a ministerial duty, appoint such person to the Board of Trustees as its fifth Trustee. The Fifth Trustee shall have the same rights as each of the other four Trustees appointed or elected as herein provided and shall serve a 4-year term unless he sooner vacates the office. The Board is its own legal entity, with its own legal counsel, meets at least quarterly ea...
Click here for full text