HomeMy Public PortalAbout2000-56 Providing funding assistance for VKB police officers and firefighters retirement planRESOLUTION NO. 2000-56
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA, PROVIDING
FUNDING ASSISTANCE FOR VILLAGE OF KEY BISCAYNE
POLICE OFFICERS AND FIREFIGHTERS RETIREMENT
PLAN FOR DISABILITY BENEFIT AS REPLACEMENT FOR
PROVIDING FUNDING FOR DISABILITY INSURANCE;
PROVIDING FOR EFFECTIVE DATE.
WHEREAS, at a cost of approximately Twenty -Two Thousand Dollars ($22,000) annually,
the Village of Key Biscayne (the "Village") presently provides a limited form of disability insurance
for police and firefighters; and
WHEREAS, the Retirement Plan (the "Plan") for the Village's police officers and firefighters
has provisions providing for comprehensive benefits in case of disability of police officers or
firefighters; and
WHEREAS, representatives of the members of the Plan have requested that the Village
provide assistance to the Plan for purposes of funding the disability benefit of the Plan in lieu of
providing for the purchase of disability insurance for police officers and firefighters, and has further
requested additional funds of approximately Thirteen Thousand Dollars ($13,000) so as to fully
cover the annual cost of the Plan's disability benefit; and
WHEREAS, the Village Council finds that, as an enhanced replacement for disability
insurance, it desires to provide funding for the disability benefit of the Plan commencing with the
fiscal year starting October 1, 2000.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS:
Section 1. Recitals Adopted. Each of the above recitals are hereby adopted, confirmed and
incorporated herein.
Section 2. Funding Provided. That in lieu of purchasing disability insurance for police and
firefighters, the Village Council hereby approves the allocation of approximately Thirty -Five
Thousand Dollars ($35,000) for purposes of funding the disability benefit provided by the Plan,
commencing with the fiscal year beginning October 1, 2000.
Section 3. Implementation. The Village Manager is authorized to take all necessary action
to implement this Resolution.
Section 4. Effective Date. That this Resolution shall be effective immediately from and after
adoption hereof.
PASSED AND ADOPTED this 24th day of October , 2000.
CONCHITA H. ALVAREZ, VILLAGE CLE
APPROVED AS TO FORM AND LEGAL SUFFI
RICHAR.YJAY WEISS, VILLAGE ATTORNEY
103001\rresolutions\police and firefighters disability benefit
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MAYOR JOE I. RASCO