Mayor and Council Make Recommendation to Repeal Elected Official's Retirement Plan

Mayor and Council Make Recommendation to
Repeal Elected Official's Retirement Plan

Doral, FL – During the April 12th Council Meeting, Mayor and Council received an update on findings by an independent, specialize pension attorney that was hired in February 2023 to review the existing elected official's retirement plan that was approved in February 2021 (Ordinance 2021-02) that established a retirement system for former, current, and future elected officials (the “Plan”). The following issues were identified as part of the summary provided by the City’s special pension counsel, Lewis, Longman & Walker (LLW):

• Whether an actuarial impact analysis was performed either before or concurrently with the adoption of the Ordinance as required by Florida’s Constitution and Florida Statutes;
   
• Whether the Ordinance and actuarial impact statement were submitted to the State Division of Retirement between first and second reading, as required by law;
   
• Whether all or portions of the Ordinance contravene Section 215.425, Florida Statutes, which prohibits extra compensation to any officer after the service has been rendered, subject to certain exceptions;
   
• Whether the requirement of a unanimous vote to amend the Ordinance is constitutional/enforceable;
   
• Whether the City has been filing the statutorily required actuarial valuation reports with the Florida Division of Retirement; and
   
• Whether certain provisions of the Plan violate state and/or federal laws/regulations governing retirement plans of public entities.

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