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866-FL Retirement System STATE- CITY OF SANFORD AGREEMENT NO.I ~S ~-- ~ ~ The Department of Management Services of the State of Florida, under the authority of Chapter 121, Florida Statutes, and City of Sanford of the State of Florida, herein referred to as "City of Sanford", in order to extend to officials and employees of said City of Sanford (except such as are hereinafter excluded) the benefits of the Florida Retirement System established by Chapter 121, Florida Statutes, hereby agree as follows: 1. Definitions: For the purpose of the Agreement - (a) The definitions, words and phrases as set out in Section 121.021, Florida Statutes, shall have the respective meanings set forth therein. 2. Services Covered: The agreement includes and covers all services performed by officers and employees of this City of Sanford except any service, position, employee, or official excluded by Chapter 121, Florida Statutes, the rules and regulations of the Florida Retirement System; or Resolution No.lg".-.q'? adopted by the City of Sanford on the &.L_ day of ~o~,~.,~ , 200 D 3. Contributions by Employees: The City of Sanford agrees to impose upon its employees covered by this Agreement the required contributions with respect to wages if such services constituted employment within the meaning of Chapter 121, Florida Statutes, and to deduct the amount of such required contributions from the wages as and when paid. Contributions so collected shall be paid to the Administrator of the Retirement System in partial discharge of the liability of said City of Sanford, said payments to be made in accordance with rules and regulations relating to the Florida Retirement system. It is agreed and understood that the failure of said City of Sanford to deduct such contributions shall not relieve it of liability therefor. 4. Contributions by the City of Sanford: (a) The City of Sanford represents that it has duly and legally adopted, and that there is now in full force and effect, a resolution requiring an appropriation from available funds in its general or special funds derived from ad valorem tax or other sources, which shall be in an amount not less than the sums withheld as the contributions of employees covered by the Agreement, the sum to equal the total amount due from said City of Sanford (employer's and employee's contributions) under applicable provisions of Chapter 121, Florida Statutes. (b) As assurance of its ability to pay its share of the contributions which will become due and payable to the Administrator under the terms of this Agreement and as assurance that said contributions will be adequate, the City of Sanford hereby obligates itself to maintain, and represents that at all times hereafter there will be maintained, in the appropriation provided in paragraph 4.(a), above, a sum fully sufficient to pay its share of the contributions: and that same (together with contributions deducted from salaries, wages, etc., of employees) will be paid promptly when due. 5. Reports-Compliance and Regulations: The City of Sanford agrees that it will make such reports, in such form and containing such information, as the Administrator may require. The City of Sanford further agrees that it will comply with all provisions of Chapter 121, Florida Statutes, and with all rules and regulations adopted and promulgated by the Administrator of the Florida Retirement system necessary to carry out the purposes of Chapter 121, Florida Statutes. It is further understood and agreed that late payments come under provisions of Section 121.061, paragraphs (2) (a), (b) and (c), Florida Statutes. 6, Termination: Once this agreement is made and approved it may not be revoked and all present officers and employees electing coverage under this agreement and all future officers and employees shall be compulsory members of the Florida Retirement System. 7. Past Service of Covered Officers and Employees: The City of Sanford hereby elects and agrees to provide benefits for past service from I/~j ~'(~, for its officers, officials, and employees covered by this Agreement, who were in its employ o'n }.2j//~x~, in accordance with provisions of Chapter 121, Florida Statutes. The cost to purchase past service credit is estimated to be which the City of Sanford agrees to pay in the following manner: upon execution of the Agreement, the remainder to be paid in equal annual installments of each, the first one of said installments shall be paid on or before June 30, __and a like installment on each June 30th thereafter until the total cost is paid. This payment includes 6 1/2% interest compounded annually on the unpaid balance. It is further agreed that if an application for retirement benefits or a request for refund is received based in part on past service years, that the total amount of payments for past service credit to be refunded to said employee, shall be made from the payments made by said City of Sanford and if the payments of the City of Sanford are insufficient at the time said benefits or refunds are requested or are due to be paid, the City of Sanford will be required to make an additional payment sufficient to meet these demands prior to the processing of the request or warrant. This will be applicable until the total past service liability has been paid in full. It is understood and agreed that the above described method for liquidating past service liability of the City of Sanford does not preclude payment in part or in full of any amounts prior to the scheduled due dates. The City of Sanford by making this election shall have no right at any time in the future to purchase additional past service credit for its covered group. Such statement of intent shall be binding and irrevocable effective with the date of coverage in the Florida Retirement System. This Agreement shall be effective as of the / day of ,200 [.) . Director ivision of Retirement Clerk (SEAL) RESOLUT,O..0... A RESOLUTION OF THE CITY OF SAN FORD, FLORIDA, PERMITTING ALL GENERAL EMPLOYEES TO ELECT TO PARTICIPATE IN THE FLORIDA RETIREMENT SYSTEM AS SET OUT IN SECTION 2-155, ARTICLE X, RETIREMEN'I' SYSTEM OF THE CODE OF ORDINANCES OF THE CITY OF SANFORD BEGINNING DECEMBER 1, 2000; PROVIDING FOR EFFECTIVE DATE. WHEREAS, it is the intent of the City of Sanford, Florida to reinstate its membership with the retirement plan for all employees or officers hired on or after December 1, 2000, as provided in Section 2-155, Articte X, Retirement System, of the Code of Ordinances of the City of Sanford, effective by separate resolution. NOW, THEREFORE, BE IT RESOLVED BY THE PEOPLE OF THE CITY OF SANFORD, FLORIDA: SECTION 1: It is hereby declared to be the policy and purpose of the City of Sanford of to reinstate its participstion in the Florida Retirement System for all employees or officers hired on or after December 1,2000. SECTION 2: This Resolution shaJl remain in full force and effect until supplemented, amended, repealed or otherwise alters SECTION 3: This Resolution repeals all other actions in conflict herewith. SECTION 4: This Resolution shall take effect on December 1, 2001. PASSED AND ADOPTED th s/L-,~day i o .... ATTEST: As the City Commission of the City of Sanford, Florida I:\NAH\FILES~.000\Sanford~Resolutions~pension.wpd "2'- Resolution No.