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Pension Reform Committee

Folder Pension Reform Committee

The pension reform committee shall consist of nine members as follows:
  1. One member shall be a trustee of the Hialeah Retirement System appointed by the board of trustees.
  2. One member shall be a councilmember appointed by the council president.
  3. One member shall be appointed by the city council selected from the general public who resides in the city and who has financial, business or professional training and experience.
  4. One member shall be appointed by union representatives for AFSCME to represent its bargaining unit membership.
  5. One member shall be appointed by union representatives for PBA to represent its bargaining unit membership.
  6. One member shall be appointed by union representatives for IAFF, Local 1102, to represent its bargaining unit membership.
  7. The mayor shall appoint three members, of which two members selected from the general public and a city resident elector who has financial, business or professional training and experience. One member shall be selected from the general public with financial, business or professional training and experience, without necessarily residing in the city. One member shall be a management employee from the city.
Members shall serve without compensation.

The pension reform committee shall establish the date, time and place of its meetings, but in no event shall the committee meet less than two times during the calendar year.

The enumerated powers and duties of the pension reform committee are to:
  1. Study and evaluate the present and future viability, sustainability and financial condition of the pension plan.
  2. Report and recommend to the mayor, city council and the board of trustees of the retirement system on significant and pertinent matters relating to or affecting the present and future viability, sustainability and financial condition of the pension plan.
  3. Report and recommend to the mayor, city council and the board of trustees of the retirement system pension reforms, changes or modifications that would enhance the sustainability and viability of the pension plan.
  4. Report and recommend to the mayor, city council and the board of trustees of the retirement system on matters involving the substance, manner and effectiveness of information and communication disseminated to current employees and retirees relating to the present and future viability, sustainability and financial condition of the pension plan.
  5. Select and retain an independent actuary with expertise in evaluating and advising pension plans to assist the committee in performing its duties and responsibilities, subject to city council approval of any expenditure.