Title
An Ordinance of the City Commission amending Chapter 46 of the "Code of the City of Coral Gables," entitled "Pensions," amending Section 46-25, “Definitions” to update the definition of Administrative Manager to provide automated benefit processing for participants; amending Section 46-254 “Disability Retirement” allowing the board to reconsider a disability retirement after the disabled participant reaches his/her normal retirement; providing for severability clause, repealer provision, codification, and providing for an effective date.
Body
The City’s Retirement System provides benefits to City employees upon the occurrence of retirement, death or disability of the employees. The Retirement System is administered in accordance with the provisions of Chapter 46 “Pension” of the Code of the City of Coral Gables
The Retirement Board is automating its pension administration by among other things, providing automated benefit processing and an on-line portal for participants to access their retirement information. This Ordinance updates the definition of administrative manager to allow for this.
Currently, the Retirement Board can annually reconsider the disability of a participant receiving a disability retirement until such time as the participant reaches his/her normal retirement. To ensure that the disabled participant remains entitled to a disability retirement, the Retirement Board believes it is in the Retirement System’s best interest to continue to annually reconsider the disability of a disabled participant after the disabled participant reaches his/her normal retirement date. This Ordinance implement this change.