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Home My WebLink AboutResolution No. 98-07 RESOLUTION NO. R98-7 A RESOLUTION OF THE CITY OF FRIENDSWOOD, TEXAS, ELECTING TO PARTICIPATE IN THE TEXAS STATEWIDE EMERGENCY SERVICES RETIREMENT FUND, TEXAS REVISED CIVIL STATUTES 6243E.3; AND REPEALING RESOLUTION NO. 77-8 WHICH EXEMPTED THE CITY FROM THIS PROGRAM. * * * * ' BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD, STATE OF TEXAS: Section 1. The City of Friendswood, Texas, by and through its governing body, elects to, and does hereby elect to participate in the Texas Statewide Emergency Services Retirement Fund, Texas Civil Revised Statutes 6243e.3 (the"Act"). Section 2. The City Council of the City of Friendswood, Texas, does hereby authorize the Mayor to execute the Contract with the Fire Fighters' Pension Commission, a true and correct copy of which is attached hereto and incorporated herein by reference. Section 3. The City Council agrees to include in the annual budget and fund contributions to the Texas Statewide Emergency Services Retirement Fund as required by state � law, to transfer any funds required to be merged or transferred by state law, until such time as a majority of the Fire Department and City Council may elect to remove the City from the provisions of the Act. T'he City Council hereby appoints the Board of Trustees of the Emergency Services Personnel Retirement Fund S.B. 411 of Friendswood, Texas as listed on page 2 of the attached Contract. Resolution No. R98-7 Firefighters Retirement Fund Page 1 of 2 Section 4. Resolution No. 77-8, passed and approved on the 26`'' day of September . 1977, exempting the City of Friendswood from participation in the Act's retirement fund, is hereby repealed and rescinded and is of no further force and effect. PASSED AND APPROVED this 2nd day of March 1998. �� Harold L. Whitaker Mayor ATTEST , � . Deloris McKenzie, RM City Secretary Resolution No. R98-7 Firefighters Retirement Fund Page 2 of 2 � css �;k'o-1,� _..,� �� `� MAR 13 1998 �� To: The Fire Fighters' Pension Commission FP 102 � P.O. Box 12577 .. - Merging Department Austin, TX 78711 r�-ic rii,:;�ic;;:�' �ti�$IU'd Revised 9-1-97 �U:;��/IIJJ�I�,��2 �a�� e�� TEXAS STATEWIDE EMERGENCY SERVICES RETIREMENT FUND .� �' CONTRACT WITH THE �' � MAR�g98 Friendswood Volunteer Fire DEPARTMENT � �yn,��C�� N Friendswood TEXAS � �lYs� � � �� qqy Complying with the provisions of the Texas Statewide Emergency Services Reti�ement Fund S.B. 411, A �St�z t 65th Legislature, Regular Sessions, 1977, we wish to advise that: 1. The Frienc�sw��d Vnl unteer F;rP Department in Friendswood Texas held a meeting on Februarv 24 , , 19 �_, and has decided to participate under the provisions of the above Act beginning on Anr�1� , 19�_. (Effective date of entry.) 2. Contributions by the goveming 'body are to be made payable to the "Emergency Services Personnel Retirement Fund S.B. 411` and mailed to the rire Fighters' Pension Commission. The contributians are to be paid in advance, at least annually, as required by the provisions of S.B. 411. a. Dues of$ 12.0 0 per month will be made in behalf of each participating member, to be paid in advance and at least annually. , %,� V b. The lump-sum amount of prior service is$ ''—r—�m-. �c3� O��, o d �� • A 3 year payout has been chosen to fund the above prior service accounting to the provisions in Section 11 of the Act under S.B. 411. An interest rate of _0_ % has been assumed in the 10 and 20 year payout method to be actuarially sou d. The 3 year payout is interest free. �y; o c��. ��js� �/2.� An amount of$ �-A�. will be paid nto the"Emergency Services Personnel Retire- ment Fund S.B. 411" per year for the duration of the above prior service period chosen. The payments are to be made at least annually. Based on 80 qualified firemen. c. An amount of at least $300/year/retiree and $200.04/year/spouse will be paid into the "Emergency Services Personnel Retirement Fund S.B. 411" for retirees and spouses merqinq from the Texas Local Fire Fighters' Retirement Act pension system (formerly H.B. 258), according to the provision in Section 11 (g) of the Act under S.B. 411. Retirees will be paid $ N/A /year. Spouses $ N/A /year. 3. A merging depar�ment m�st t�ar�s��r tti2 funds in ��s lo:,a! pension funu account to the S.B. 4?1 system. The N/A department has $ N/A in its local pen- sion fund. This amount may be used to pay the cost of prior service and/or Texas Local Fire Fighters' Retirement Act pension system (formerly H.B. 258) costs until it is exhausted. Any interest earned on this transfer after the date of entry into S.B. 411 belongs to the pension fund. The department wishes to use iYs local pension fund to pay N/A 4. The governing entity understands it is responsible for the payment of Texas Local Fire Fighters' Retirement Act pensions when the transfer is exhausted. 5. The membership understands that the signing of this contract rescinds any exemption from the pension law enacted by the governing body and that the department will be bound by Section 12 of the law should it wish to withdraw from the system. � ,... �... � ' " +��1��! � MAR 13 1998 FP 102 Merging Department i-i;it riu�iicit,5' t'�i�1Sl0�d Revised9-1-97 CJ':i�+�iSS!+�+� 6. Entities that have not participated in a pension system prior to entering S.B.411 understac�d that they are bound to the same requirements of the law as are departments which previously belonged to the TLFFRA pension plan. The membership of the Board of Trustees of the Emergency Services Personnel Retirement Fund S.B. 411 of Friendswood , Texas has been duly organized in accordance with the provisions of the Act unde�S.B.411 and is composed of the following officials and members of the department. � �'�� , � Ronald E. Cox Sig ture-Representative� Governing Body (Name printed or typed) 2 Lisa Camp Si re-Memb ,Eme ency Services Dept. (Name printed or typed) 3 � Dan Key - Signature-Member, mergency Services Dept. (Name printed or typed) 4. �%� (,�•��w•..�/ Mark Turvev — Signature-Member, mergency Services Dept. (Name printed or typedj , 5. � 1�aue� S.s • Roger Baust Signature -Member, Emergency Senrices Dept. (Name printed or typed) 6 !1��5 �,�"�,�, Mark Garvin Signature -Member, Emergency Services Dept. (Name printed or typed) 7. Signature -Resident of Political Subdivision (Name printed or typed) 8. Signature -Resident of Political Subdivision (Name printed or typed) Respectfully submitted: (Mu ve at I a on s' tur ) Approved By: Ma or(if ap liczble Harold L. Whitaker March 2P 19�8 `�'►��,._.-. �- ��....�.- Commissioner County Judge(if applicable) 3- �3- g� Date District President(if applicable) (Seal of Governing Body)