SR.1 - Amend Firefighters Retirement Benefits

WHEREAS, the City of Miami (“City”) and Miami Association of Firefighters, Local 587, IAFF entered into a successor collective bargaining agreement (“CBA”) for October 1, 2023, through September 30, 2026; and

WHEREAS, the City Commission ratified the collective bargaining agreement on June 18, 2024, pursuant to Resolution No. R-24-0225; and

WHEREAS, implementation of the pension portion of the CBA requires an amendment to Chapter 40 of the Code of the City of Miami, Florida, as amended (“City Code”), as required pursuant to Section 447.309(3), Florida Statutes;

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF MIAMI, FLORIDA:

Section 1.  The recitals and findings contained in the Preamble of this Ordinance are adopted by reference and incorporated as if fully set forth in this Section.

Section 2.  Chapter 40/Article IV/Division 2 of the Code of the City of Miami, Florida, as amended in the following particulars:

“CHAPTER 40

PERSONNEL

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ARTICLE IV. PENSION AND RETIREMENT PLAN

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DIVISION 2.  CITY OF MIAMI FIREFIGHTERS' AND POLICE OFFICERS'

RETIREMENT TRUST

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Section 40-203. Benefits.

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(c) Limitation on benefits.

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(3)Members who as of September 26, 2010 had not attained ten or more years of creditable service and members hired on or after October 1, 2010 shall have a maximum retirement benefit which shall not exceed the lesser of $120,000.00 or 100 percent of final average compensation. Members who retired prior to September 26, 2010 shall have no limitation on benefits accrued. Effective September 30, 2026, firefighter members who were vested in their benefits on or before September 26, 2015, shall have the pension benefits, in accordance with the provisions of this Plan in effect on September 26, 2010.

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(q) Modified deferred retirement option program.Effective upon approval by the city commission of the F.O.P. and I.A.F.F. labor agreements for October 1, 1998, through September 30, 2001, the DROP of the retirement system shall consist of a Forward DROP and a BACDROP. Any member who has reached age 50 with ten years of creditable service, or who has attained a combination of age plus years of creditable service equal to either 64 or 68 as applicable, shall be eligible to participate in the DROP.

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(2)Maximum participation.Effective September 30, 2026upon the ratification of the Memorandum of Understanding of July 11, 2008 amending Article 43 of the 2007-2010 collective bargaining agreement with the IAFF, the maximum participation in the Forward DROP for firefighters shall be 8454 full months. Effective upon the ratification of the Memorandum of Understanding of May 8, 2008 amending Article 39 of the 2007-2010 collective bargaining agreement with the FOP, the maximum participation in the Forward DROP for police officers who elect Forward DROP or are currently in Forward DROP shall be 84 full months. Once the maximum participation has been achieved, the participant must terminate employment. A member electing the forward DROP may not also elect the BACKDROP in subparagraph (q)(14) of this section.

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Section 3.  If any section, part of a section, paragraph, clause, phrase, or word of this Ordinance is declared invalid, the remaining provisions of this Ordinance shall not be affected.

Section 4.  This Ordinance shall become effective immediately upon its adoption and signature of the Mayor.