What is required to participate in the Plan?
The Plan is open solely to active police officers of the City of Miramar. A police officer is any person employed full time in the Police Department, who is
certified as a police officer as a condition of employment in accordance with the provisions of Florida Statutes and whose duty is to protect life and
property, and to exercise lawful arrest powers under Florida law. This definition includes all supervisory and command personnel whose duties include, in
whole or in part, the supervision, training, guidance, and management responsibilities of full time police officers. All full time police officers of the City of
Miramar must participate in this pension plan.
How do I enroll in the Plan?
Each police officer is eligible for membership on the date of employment. Each police officer shall complete an application within thirty (30) days after the
date of employment, the form of which shall cover the following points, as well as such other points or items as may be prescribed by the board:
- Acceptance of the terms and conditions of the plan and trust;
- Designation of a beneficiary;
- Authorization of thirteen and four-tenths (13.4) percent payroll deduction payable to the plan, such deduction commencing as of his or her
date of employment; and
- Provides acceptable evidence of his or her date of birth.
How do I know if I qualify for the TIER I or TIER 2 Plan?
- All police officers hired on or before June 9, 2008 are members of the "TIER 1" plan.
- Officers hired on or after June 10 are members of the "TIER 2" plan.
Is there a difference between benefits for both plans?
Yes. Pension benefits are different between the two tiers. In particular, TIER 1 and TIER 2 have different retirement ages and calculate benefits
What must I contribute to the plan?
Each active member of the Plan contributes a percentage of "pensionable earnings" into the Plan. The employee contribution rate for both TIER I and
TIER II members is thirteen and four tenths percent (13.4%) of pensionable earnings, which will be automatically deducted from every paycheck. Member
contributions are also required on the first three hundred (300)-hours of overtime earned each year.
This contribution is accomplished through what is known as a "pick-up" plan. A pick-up plan provides for the withdrawal from an employee's pay of the
contribution prior to the time that the pay is subjected to federal income taxation. The money is then placed directly in the Pension Plan on behalf of the
employee by the City.
The purpose of the pick up plan is to allow an employee to defer taxation on the contribution until such time as an employee actually receives a pension.
The pick up plan is authorized pursuant to the city Code and the provisions of Section 414(h) (2) of the Internal Revenue Code.
What is the official name of the plan?
The official name of the plan is the City of Miramar Police Officers’ Retirement Plan and Trust Fund.
What type of plan is this?
Your plan is a defined benefit plan. This means the amount of benefits that you receive is a percentage of your salary
multiplied by years of service in the City of Miramar’s Police Department.
How is money contributed to the Fund?
Money is contributed to the Fund by you, by the city and by the State of Florida pursuant to an insurance premium
rebate program established by the State of Florida under Chapter 185, Florida Statutes. Under Florida law, the City is
ultimately responsible for making certain that the Plan is actuarially sound.
Who regulates this plan?
This plan is governed by the appropriate provisions of the statutes, charter provisions and ordinances which create
this Plan, Article IV of the Miramar City Code, Chapter 112, Part VII, and Chapter 185, Florida Statutes. If there is any
conflict between those legislative provisions and this summary, the legislative provisions control.
Are there collective bargaining agreements that govern the plan?
From time to time, the PBA and the City have negotiated plan changes. Any contract provision must be made effective by changing the ordinances which
govern this plan.
What are the legal documents creating the plan?
The Plan arises out of the Code of the City of Miramar, Chapter 112, Florida Statutes, and Chapter 185, Florida Statutes, which provides a system for the
taxation of insurance policies covering property located within the City of Miramar. The following amendments to the Pension plan were adopted within the
past few years: Ordinance No. 04-02, Ordinance No. 04-24, Ordinance No. 05-23, and Ordinance No. 08-20.
On what basis are plan records kept?
The Board keeps accurate and detailed accounts of all investments, receipts, disbursements, and other transactions pertaining to Fund property. The
Board's secretary keeps a record of all its proceedings and they are available for public inspection. The Board's meetings are open to the public, under
the Government In Sunshine Law.
Regulation, Eligibility and Administration
How is the plan administered?
The Plan is administered by a six member Board of Trustees. Three of the Trustees are active police officers who are elected by active members of the
Plan; two of the Trustees are appointed by the City Commission and must be legal residents of the City; a sixth member is appointed by the other five, and
must be approved by the City Commission. The sixth member need not be a resident of the City, but may be an active or retired member of the Plan. The
Fund employs a professional actuary who helps determine the cost of future benefits; accountants who determine the proper allocation of monies; and an
attorney with expertise in the area of public pension law to advise the Board of Trustees with the assistance of these professionals. The Fund's money is
invested by professional money managers whose performance is monitored by independent investment professionals on a quarterly basis to ensure that
you are receiving a proper return on the investment of your pension monies.
What are the responsibilities of the Board of Trustees?
The Board of Trustees is responsible for the following items:
- Directing the investment of the assets of the Pension Fund to ensure that there will be adequate monies for future benefits.
- For interpreting and applying the pension ordinance and for determining eligibility on all benefit claims.
- To regularly attend schools and seminars pertaining to the management of pension funds for public employees in order to keep up on the latest
trends in pension management.
The Trustees serve a four year term and are eligible for re¬election or re-appointment. The Trustees receive no compensation for their service, and they
only receive reimbursement for travel and educational activities on behalf of the Fund.
In accordance with Florida law, the Chairman is the registered agent for service of process and his business address is:
Chairman, Frank DeFalco
Miramar Police Department
11765 City Hall Promenade
Miramar, FL 33025
In the absence of the designated Chairman, any member of the Board of Trustees is subject to service of process.
Who administers the plan?
The plan is administered by the Pension Administrator, DOUG FALCON and YOLANDA SHEA from FHA-TPA Benefit Administrators. Their
contact phone numbers are 954- 366-0111 ext. 318 (local) and 1-800-707-0501 (toll-free).
The day-to-day record-keeping and administrative functions of the Plan are the responsibility of the Pension Administrator. All records and books of the
plan, except medical records, are available for public inspection at the office of the Pension Administrator.
What if I have further questions regarding my benefits?
All questions should be directed to your Plan Administrator, FHA-TPA. If you would like an official response to your question, please send a letter in writing
to the Chairman or Secretary of the Fund