City of Gainesville - File #: 080155.

• File #: 080155.
• Version: 1
• Name: RETIREE HEALTH INSURANCE PROGRAM AND TRUST FUND (B)
• Type: Ordinance
• Status: Adopted
• File created: 8/21/2008
• In control: City Attorney
• Final action: 9/4/2008
• Title: RETIREE HEALTH INSURANCE PROGRAM AND TRUST FUND (B) Ordinance No. 0-08-52 An ordinance of the City of Gainesville, Florida, relating to the City's retiree health insurance program and trust fund, terminating the existing program and trust, creating a new retiree health insurance program and trust fund as Article XII of Chapter 2 of the City of Gainesville Code of Ordinances; describing contributions and benefits provided under the program and Trust, providing for administration of the program and Trust; and protection against creditors; providing directions to the codifier; providing a severability clause; providing a repealing clause; and providing an effective date with retrospective application.

Date	Ver.	Action By	Action	Result
9/4/2008	1	City Commission	Adopted on Final Reading (Ordinance)	Pass
8/21/2008	1	City Commission	Adopted on First Reading (Ordinance)	Pass
7/14/2008	0	City Commission	Approved as shown above (See Motion)	Pass

title
RETIREE HEALTH INSURANCE PROGRAM AND TRUST FUND (B)

Ordinance No. 0-08-52
An ordinance of the City of Gainesville, Florida, relating to the City's retiree health insurance program and trust fund, terminating the existing program and trust, creating a new retiree health insurance program and trust fund as Article XII of Chapter 2 of the City of Gainesville Code of Ordinances; describing contributions and benefits provided under the program and Trust, providing for administration of the program and Trust; and protection against creditors; providing directions to the codifier; providing a severability clause; providing a repealing clause; and providing an effective date with retrospective application.

recommendation
The City Commission adopt the proposed ordinance.

explanation
On April 28, 2008, the City Commission first considered a recommendation to terminate the existing Retiree Health Insurance Trust Fund and utilize a portion of those funds to fund a new Retiree Health Insurance Program and Trust Fund, with a different formula for determining City contributions towards retiree health insurance premiums costs. Technical changes relating to compliance with Governmental Accounting Standard Board's (GASB) most recent pronouncements on post employment benefits (GASB43 and GASB45) would be reflected in the new trust document.

On June 6, 2008, additional presentations regarding potential changes to the formula utilized to determine the City's contribution towards the premium were presented.

On July 14, 2008, the City Commission directed the City Attorney to draft and the Clerk of Commission to advertise an ordinance effectuating the above, adopting a formula for City contributions utilizing what was characterized as Option 4(c). This generally provides for contributions based upon $10 per year of credited service, with $5 per year age adjustments, requiring the retiree to pay at least the same amount as an active employee in the same ti...