Placement: Consent Agenda
Action Requested: Motion / Vote
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City Council Appointment of Nate Spera for a Four-Year Term on the Municipal Police Officer's Retirement Trust Fund Board of Trustees
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Submitted By: Jesus Merejo, City 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, two of whom are directly appointed by the City Council. Recently, a vacancy has occurred for a Council-appointed member. Mr. Nate Spera has expressed interest in serving as a member of the Board. If approved, Mr. Spera would serve a four-year term.
Presentation Information: N/A
Staff Recommendation: Move that the City Council appoint Nate Spera for a 4-year term on the Municipal Police Officer's Retirement Trust Fund Board of Trustees.
Alternate Recommendations:
1. Move that the Board amend the recommendation and provide staff direction.
2. Move that the Board reject the appointment of Nate Spera and solicit for the board vacancy.
Background: The vacancy in question was the result of the recent passing of a Council-appointee.
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, Council-appointed members of the Board must be legal residents of the City and serve four-year terms, with no limit on the number of terms served. The Board is its own legal entity, with its own legal counsel, meets at least quarterly each year, and their duties include construction of the provisions of the pension plan; determining questions related to eligibility and membership in the pension plan; determining and certifying the amount of all retirement allowances or benefits thereunder; establishing uniform rules and procedures for administrative purposes; regularly distributing to members informa...
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