City of Coral Gables

File #: 14-2974    Version: 1 Name: Request for Authority to File Suit Relating to Prior Actuary
Type: Resolution Status: Adopted
File created: 3/31/2014 In control: City Commission
On agenda: 4/8/2014 Final action: 4/8/2014
Enactment date: 4/8/2014 Enactment #: 2014-70
Title: Resolution of the City Commission of the City of Coral Gables, Florida, relating to the Retirement System for City Employees; authorizing the City Attorney to take legal action on behalf of the City and the Retirement Board against The Nyhart Company and Stanley Holcombe & Associates, as actuaries for the Retirement System, to recover damages caused by the actions of The Nyhart Company and Stanley Holcombe & Associates relating to application of the maximum limits on retirement benefits contained in Section 415 of the Internal Revenue Code, and any other claims the City and Board may have; authorizing the City Attorney to engage outside legal counsel to assist in taking such necessary legal action; providing for full force and effectiveness; providing for repeal of conflicting Resolutions; and providing an effective date.
Attachments: 1. Signed Resolution 2014-70, 2. I-1 Signed Cover Memo, 3. Legal Action Against Actuary Resolution, 4. Verbatim Transcript - CCMtg April 8 2014 - Agenda Item I-1 - Reso relating to Retirement System for City Employees - legal action against Nyhart Co
Title
Resolution of the City Commission of the City of Coral Gables, Florida, relating to the Retirement System for City Employees; authorizing the City Attorney to take legal action on behalf of the City and the Retirement Board against The Nyhart Company and Stanley Holcombe & Associates, as actuaries for the Retirement System, to recover damages caused by the actions of The Nyhart Company and Stanley Holcombe & Associates relating to application of the maximum limits on retirement benefits contained in Section 415 of the Internal Revenue Code, and any other claims the City and Board may have; authorizing the City Attorney to engage outside legal counsel to assist in taking such necessary legal action; providing for full force and effectiveness; providing for repeal of conflicting Resolutions; and providing an effective date.
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