Placement: Consent Agenda
Action Requested: Motion / Vote
TITLE
Approve Administrative Services Agreement between the City of Port St. Lucie and the City's Police Officers' Retirement Trust Fund Board of Trustees
BODY
Submitted By: Danneshia Brown, Retirement Analyst, Financial Management
Strategic Plan Link: The City's Goal of a high-performing city government organization.
Executive Summary (General Business): The Agreement is established between the City of Port St. Lucie and the Board of Trustees of the City of Port St. Lucie Municipal Police Officers' Retirement Trust Fund. This arrangement specifically delineates the administrative service fees for the four positions within the retirement staff, with the Board committing to contribute 33% of the salary and benefits for these staff members.
Presentation Information: A member of the Finance staff is available for any questions.
Staff Recommendation: Move that the Council approve the Administrative Services Agreement.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Administrative Services Agreement.
2. Move that the Council provide staff direction for an approval.
Background: The Finance Department's retirement staff increased by two full-time equivalents during fiscal year 22 to a team of four. On December 12, 2023, the Board signed the Administrative Services Agreement for restatement. Presently, we seek approval from the City Council to execute this agreement, which outlines the respective financial contributions of each party involved.
Issues/Analysis: N/A
Financial Information: N/A
Special Consideration: N/A
Location of Project: N/A
Attachments: Administrative Services Agreement
NOTE: All of the listed items in the "Attachment" section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: #9403
Legal Sufficiency Review:
Revie...
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