Submitted By: Chris Watt
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Presentation By: Chris Watt
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Department: Human Resources and Risk Management
STAFF RECOMMENDATION (Motion Ready):
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Approve Pension Administrative Services Agreement for Fiscal Years 2023-2025 and authorize the City Council President to sign the agreement to provide pension administrative services between the City of Ocala and the Board of Trustees of the Ocala General Employees' Retirement System, the Board of Trustees of the Ocala Fire Fighters' Retirement Plan and the Board of Trustees of the Ocala Police Officers' Retirement System
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OCALA'S RELEVANT STRATEGIC GOALS:
Operational Excellence.
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The purpose of the Agreement to Provide Pension Administrative Services is to set forth and clarify the responsibilities, terms, and conditions related to the City of Ocala's (City) provision of specialized administrative services to the Ocala General Employees' Retirement System, the Ocala Fire Fighters' Retirement Plan, and the Ocala Police Officers Pension Boards. The agreement will commence on October 1, 2022, and end on September 30, 2025.
FINDINGS AND CONCLUSIONS:
The City provides specialized administrative services to the three Pension Boards (Ocala General Employees' Retirement System, Ocala Fire Fighters' Retirement Plan, and the Ocala Police Officer's Retirement System). The cost of these services is an expense of the three Pension Boards and the City should be reimbursed for the cost of providing these services as specified in the Agreement.
FISCAL IMPACT:
The three Pension Boards will reimburse the City of Ocala for providing the specialized administrative services at an amount determined as part of the annual budget process.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
This Agreement will be reviewed and approved for form and legality by the City Attorney, Robert W. Batsel, Jr.
ALTERNATIVE:
Do not approve the agreement and direct staff to modify the ...
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