2025-09RESOLUTION NO. 2025 - 09
A RESOLUTION OF THE MAYOR AND VILLAGE
COUNCIL OF MIAMI SHORES VILLAGE, APPROVING
THE AMENDMENT TO THE 401 (A) PLAN TO ALLOW
ENROLLMENT OF CHARTER OFFICERS, EXECUTIVE
MANAGEMENT AND DIRECTORS; PROVIDING FOR
IMPLEMENTATION; PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the Miami Shores Village (the "Village") Council on January 7,
2025 voted to amend the general employees' retirement plan ordinance to allow
Charter Officers, Executive Management, and Directors as defined in the Village
personnel rules and regulations, hired after October 1, 2023 -- the option to opt -
out of the Village's Defined Benefit plan; and
WHEREAS, the Village would provide those who opt -out, an option to join
a 401 (a) Plan; and
WHEREAS, the Village currently has a 401 (a) defined contribution plan
with MissionSquare (the "Plan"); and
WHEREAS, the Plan's current covered employment classification is
specific to the Village Manager; and
WHEREAS, the Village shall amend the existing Plan to allow Charter
Officers, Executive Management, and Directors under the covered employment
classification; and
WHEREAS, the Village has established a contribution of 10% of
employees' salaries by the Village, unless otherwise specified in an employment
agreement, and an employee contribution ranging from a minimum of 3% to a
maximum of 6% of their salary; and
WHEREAS, the Village Council has determined that amending the current
401(a) Plan is in the best interest of the Village and personnel.
NOW, THEREFORE, BE IT RESOLVED by the Village Council of Miami
Shores, Florida that:
Section 1. Recitals Adopted. The foregoing recitals are true and correct.
Section 2. Approval. The Village Council approved the amendment to the
MissionSquare 401(a) plan.
Section 3. Implementation. The Village Manager is hereby authorized to
execute the necessary steps on behalf of the Village subject to approval as to form and
legal sufficiency by the Village Attorney and take any action necessary to implement its
terms.
Section 4. Effective Date. This Resolution shall become effective immediately
upon its adoption.
PASSED AND ADOPTED this 18th day of March, 2025.
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Mayor George Burch
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
Village Attorney
Weiss Serota Helfman Cole & Bierman P.L.
FINAL VOTE 5 AT ADO PTO N
Council 141ember Jerome Charles
Yes
Council 14lember Sandra Harris
Yes
Council lvlember Neil Gant.Dr
Yes
Vice r4layorJesse'V'allnskx
Yes
Mayor George Burch
Yes