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Police Officers' and Firefighters' Pension Board <br />September 5, 2002 <br />Page 4 <br />VIII. Miscellaneous <br />Receipt of Premium Tax Distribution from the State <br />Mr. Dreier presented the report, dated August 22, 2002, of the Premium Tax Distribution which <br />outlines the distribution as follows: <br />Police Officers - $167,614.92 <br />Firefighters - $ 34,875.42 <br />The Board accepted the report as presented. <br />Report on Commission Action re Benefits <br />Mr. Schluckebier reported that the Commission, at its meeting of August 26, 2002, authorized <br />participation to serve as a party with the Florida League of Cities to commence litigation in <br />challenging the Division of Retirement's interpretation of "extra benefits" under Chapters 175 <br />and 185, Florida Statutes. The Florida League of Cities believes that the State of Florida <br />Retirement System is not interpreting the law as it was intended with regards to the additional <br />premium tax monies as it relates to additional benefits. <br />The City received an opinion from the Actuary, Foster & Foster regarding the new amendments <br />to Chapters 175 and 185, Florida Statutes, which were passed on March 12, 1999. The <br />amendments required the establishment of new minimum benefit provisions for local plans and <br />clarification that the premium tax monies be used to provide benefits greater than those provided <br />to the City's general employees. The opinion from the Actuary indicated that both these <br />requirements are currently being met. <br />The Board will be kept apprised of any additional progress on this class action suit. <br />