File #: ID#19-6277    Version: 1 Name: Clearwater Firefighters' Supplemental Trust Fund - Amend Clearwater Code of Ordinances Section 2.453, re: Missing Benefit Recipients, Ord. #9297-19
Type: Action Item Status: Passed
File created: 5/30/2019 In control: Fire Department
On agenda: 6/20/2019 Final action: 6/20/2019
Title: Amend the Clearwater Code of Ordinances Section 2.453, Miscellaneous Provisions, adding subsection (g), Missing Benefit Recipients relating to the Clearwater Firefighters' Supplemental Pension and Retirement Plan and pass Ordinance 9297-19 on first reading.
Attachments: 1. Agenda - Supplemental Pension Ordinance Change 9297-19 att.pdf

SUBJECT/RECOMMENDATION:

Title

Amend the Clearwater Code of Ordinances Section 2.453, Miscellaneous Provisions, adding subsection (g), Missing Benefit Recipients relating to the Clearwater Firefighters’ Supplemental Pension and Retirement Plan and pass Ordinance 9297-19 on first reading.

 

 

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SUMMARY: 

With changes to the Internal Revenue Code (IRC) and its associated Regulations, as well as guidance from the Internal Revenue Service (IRS) and recent litigation, the Miscellaneous Provisions Section is being amended to add subsection (g), Missing Benefit Recipients. This provision is in accordance with a recent IRS Programs Compliance Memorandum that requires plans to have an approved method of locating terminated individuals who are do benefits from the plan.

 

APPROPRIATION CODE AND AMOUNT:

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USE OF RESERVE FUNDS: 

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