HomeMy WebLinkAboutVI(A3&4) Ordinance No.96-19, No.96-20, Relating Trust Fund • AGENDA 9-17-96
• "CENTER OF GOOD LIVING -PRIDE OF WEST ORANGE" Item VIA 3 & 4
Ocoee S.SCOTT VANDERGRIFT
o COMMISSIONERS
5 CITY OF OCOEE COMMISSIONERS
RUSTY
••- j• I
SCOTT ANDERSON
150 N.LAKESHOREDRIVES IM G A.GLASS
f`� O OCOEE.,FLORIDA 34761-21258 JIM GLEASON
'yJ, �� (407)656-2322
CITY MANAGER
E� OF GOOV ELLIS SHAPIRO
•
MEMORANDUM
TO: The Honorable Mayor and Board of City Commissioners
FROM: Ellis Shapiro, City Manager
DATE: • September 13,1996 .
RE: PROPOSED PENSION ORDINANCES
The attached Ordinances for your review have been looked at by Wanda Horton,
Finance Director, Peggy Psaledakis, Personnel Director, and myself.
To this end, we ha-ye reviewed the approval of these changes, which for the most
part represent changes to Federal and State pension laws. - .
Furthermore, our City Attorney has approved the Ordinances as to form.
Respectfully Sub s 'tted,
40,1'
ES:fdg
401, -
Attachments
LAW OFFICES
CHRISTIANSEN & DEHNER, P.A.
2975 BEE RIDGE ROAD
SCOTT R. CHRISTIANSEN SUITE C TELEPHONE
H. LEE DEHNER SARASOTA, FLORIDA 34239 (941)922-0200
TELECOPIER
August 30, 1996 (941)923-5683
Mr. Ellis Shapiro, City Manager
City of Ocoee
150 North Lakeshore Drive
Ocoee, Florida 34761
Re: City of Ocoee Municipal General Employees' Retirement Trust Fund - City
of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund
Dear Ellis:
In accordance with our recent.discussions, I am enclosing completely restated pension
ordinances for the designated funds. The amendments contained in the restatements are for
state and federal compliance and administration. By copy of this letter, I am requesting
Foster &Foster, Inc. to provide an impact statement to the Boards, which must be submitted
along with copies of the ordinances to the Division of Retirement prior to second reading.
It is my understanding that first reading will be on September 17, and second reading on
October 1. If you would like me to attend on October 1, please let me know.
Each pension board is in the process of reviewing.plan benefits and formulating
recommendations for benefit improvements. It is anticipated that these will be presented in
January, 1997, to become effective october 1, 1997, if approved by the City Commission.
The Boards would like to express their unanimous support for the pending proposal
that would.enable retired employees to continue health insurance coverage by paying the
group insurance premium. It would be greatly appreciated if you would communicate this
to the Commission. Thank you for your courtesy and cooperation in working with us on
these matters. If you have any questions or comments, please do not hesitate to contact me.
Yours very truly,
H. Lee Dehner
HLD/dm
enclosures
cc: Ward Foster, with enclosure
Jean Grafton, with enclosure p/
Mike Reed, with enclosure
AGENDA '9-17-96
Item VIA 3
ORDINANCE NO. 9 6-19
AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA,
RELATING TO THE CITY OF OCOEE MUNICIPAL
GENERAL EMPLOYEES' RETIREMENT TRUST FUND;
AMENDING AND RESTATING IN FULL, ORDINANCE
NUMBER 91-08, AS SUBSEQUENTLY AMENDED BY
ORDINANCES NUMBER 91-27, 94-05, 94-08, 95-21 AND
ORDINANCE NUMBER 95-29; PROVIDING FOR
DEFINITIONS; PROVIDING FOR MEMBERSHIP;
PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING
FOR FINANCES AND FUND MANAGEMENT; PROVIDING
FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT
AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE-
RETIREMENT DEATH BENEFITS; PROVIDING FOR
VESTING OF BENEFITS;PROVIDING OPTIONAL FORMS
OF BENEFITS; PROVIDING FOR BENEFICIARIES;
PROVIDING CLAIMS PROCEDURES; PROVIDING FOR A
ROSTER OF RETIREES; PROVIDING FOR A BOARD
ATTORNEY AND PROFESSIONALS; PROVIDING FOR A
MAXIMUM PENSION LIMITATION; PROVIDING FOR
DISTRIBUTION OF BENEFITS; PROVIDING
MISCELLANEOUS PROVISIONS; PROVIDING FOR
REPEAL OR TERMINATION OF THE SYSTEM;
PROVIDING FOR EXEMPTION FROM EXECUTION AND
NON-ASSIGNABILITY; PROVIDING FOR PENSION
VALIDITY; PROVIDING FOR FORFEITURE OF PENSION
UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR
INDEMNIFICATION AND DEFENSE OF CLAIMS;
PROVIDING FOR THE PURCHASE OF CREDITED
SERVICE FOR ABSENCES PURSUANT TO THE FAMILY
AND MEDICAL LEAVE ACT; PROVIDING FOR DIRECT
TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS;
PROVIDING FOR THE PURCHASE OF CREDITED
SERVICE FOR SEPARATION FROM EMPLOYMENT FOR
MILITARY SERVICE; PROVIDING FOR SEVERABILITY
OF PROVISIONS; REPEALING ALL ORDINANCES IN
CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE
DATE.
SECTION 1: Authority. The City Commission of the City of Ocoee has the authority
to adopt this ordinance pursuant to Article VIII of the Constitution of the State of Florida and
Chapter 166, Florida Statutes.
SECTION 2: The present ordinances number 91-08, 91-27, 94-05, 94-08, 95-21 and
95-29, adopted by the City Commission of the City of Ocoee, are hereby amended and restated
in full as set forth in THE CITY OF OCOEE MUNICIPAL GENERAL EMPLOYEES'
RETIREMENT TRUST FUND, a copy of which is attached hereto, and by this reference made
a part hereof.
SECTION 3. Repeal of Ordinances. All ordinances or parts of ordinances in conflict
herewith are hereby repealed.
SECTION 4. Severability. In the event any section, subsection, paragraph, sentence,
clause, phrase or word of this ordinance shall be held invalid by a court of competent
jurisdiction, then such invalidity shall not effect the remaining portions hereof.
SECTION S. Effective Date. This ordinance shall take effect upon second reading and
adoption.
PASSED AND ADOPTED this day of , 1996.
APPROVED:
ATTEST: CITY OF OCOEE, FLORIDA
By:
Jean Grafton, City Clerk. S. Scott Vandergrift, Mayor
(SEAL)
ADVERTISED September 19 , 1996
READ FIRST TIMESept. 17 , 1996
READ SECOND TIME AND ADOPTED
, 1996
FOR USE AND RELIANCE ONLY BY
THE CITY.OF OCOEE, FLORIDA
APPROVED AS TO FORM AND LEGALITY
THIS day of , 1996.
CHRISTIANSEN & DEHNER, P.A.
Special Counsel
By:
APPROVED BY THE OCOEE CITY
COMMISSION AT A MEETING HELD
ON , 1996 UNDER
AGENDA ITEM NO.
dm\ocoee\gen\8-29-96g.ord
Page 2
CITY OF OCOEE
MUNICIPAL GENERAL EMPLOYEES' RETIREMENT TRUST FUND
SECTION 1. DEFINITIONS.
1. As used herein, unless otherwise defined or required by the context, the
following words and phrases shall have the meaning indicated:
Accumulated Contributions means a Member's own contributions without interest.
For those Members who purchase-Credited Service with interest or at no cost to the System.
any payment representing the amount attributable to Member contributions based on the
applicable Member contribution rate. interest and any required actuarially calculatedpayments for the purchase of such Credited Service. shall be included in Accumulated
Contributions.
Let;means the Employee Retirement Income Security Act of 1974 (P.L. 93-406) as
ment Equity Act of 1984 (I'.:... 9° 297.) and any regulations issued
thereunder by the Department of Labor and the Internal Revenue Service, as that:Statute and
these regulations shall be amended.
Actuarial Equivalent means-a benefit or amount of equal value, based upon the UP
1984 1983 Group Annuity Mortality Table.and.an interest rate.of.eight (8%)'per annum._.-
Average Final Comnensation_means on-twelfth.(1/12) of the average Salary of the
five (5) best years of the last ten'(10) years..of Credited Service prior to Retirement; termina-
tion,.or death. A year shall be twelve (.1-2)-consecutive months.
Beneficiary means the person or persons entitled to receive benefits hereunder at the
death of a Member who has or have been designated in writing by the Member and filed
with the Board. If no such designation is in effect, or if no person so designated is living, '
at the time of death of the Member, the Beneficiary shall be the estate of the Member.
Board means the Board of Trustees, which shall administer and manage the System
herein provided and serve as trustees of the Fund.
City means City of Ocoee, Florida.
Code means the Internal Revenue Code of 1986, as amended from time to time.
Credited Service means the total number of years and fractional parts of.years 'of
service as a General Employee with Member contributions. when required. omitting
intervening years or fractional parts of years when such Ger:cr:.1 Employee Member mot
be was not employed by the City as a General Employee. A General Employee Member
may voluntarily leave his or her contribution in the Fund for a period of five (5) years after
leaving the employ of the City pending the possibility of being rehired,
employed for a period of not less than three (3) years, without losing credit for the time of
p that he or she was a Member of the System. If
the Genera:Eemp.c,y re Member is not reemployed dees-net
within five (5) years, then the Accumulated Contributions
will be returned upon written request of the Member. Upon return of his or her
Accumulated Contributions, all of his or her rights and benefits under the System are
forfeited and terminated.
In the event that a Member of this System has also accumulated credited service in
another pension system maintained by the City, or has a period or periods of previous
Page 3
employment as a General Employee. but is not eligible to receive Credited Service for this
period or periods of previous employment for benefit calculation purposes. then such other
credited service shall be used in determining vesting as provided for in Section 8, and for
determining eligibility for early or normal retirement. Such other credited service will not
be considered in determining benefits under this System. Unless otherwise provided herein.
94nly his or her Credited Service.and Salary under this System on or after his or her latest
date of membership in this System will be considered for benefit calculation. In addition,
any benefit calculation for a Member of this System who is or becomes eligible for a benefit
from this System after he or she,has become a member of another pension system maintained
by the City, shall be based upon the Member's Average Final Compensation, Credited
Service and benefit accrual rate as of the date the Member ceases to be a General Employee.
The years or fractional'parts of years that a General Employee previously:served as....:.
a General Employee with the City of Ocoee during a period of previous employment and for
which period Accumulated Contributions were withdrawn from the Fund. or for a period of
previous employment for which Credited Service has not been otherwise received for benefit.
calculation,purposes. shall be added to his or her years of Credited Service provided that:
L The General Employee contributes to the Fund the sum that he or she would
have contributed had he or she been a member of the System for the years or fractional parts
of years for which he or she is reauesting credit plus amounts actuarially determined such
that the crediting of service does not result in any cost to the Fund plus payment of costs for:.: , ,all'professional services and administrative costs rendered to the Board in connection with
the purchase of years of Credited'Service.
• 2 The request shall be made only once and made by the General Employee on
or before the later of twelve (12) months from the effective date of this ordinance or six (6)
months from the date of his or her reemployment_ with the City as a General Employee,
whichever is later.
2 Payment by the General Employee of the reauired amount shall be made within -
six (61 months of his or her reauest for credit and shall be made in one'lum sum payment
upon receipt of which Credited Service shall be given.
4. There shall be no maximum credit under this section and all years of Credited
Service added pursuant to this Section shall count for all purposes. including vesting.
Effective Date means October 1, 1991. •
Fund means the trust fund established herein as part of the System.
General Employee means any actively employed person in the regular full-time
service of the City, including those in their initial probationary employment period, but not
including certified police officers and certified firefighters, employed by the City.. For
purposes of this Pension System, the City Manager, Assistant City Manager and City
Attorney shall not be deemed General Employees, and, therefore, shall not be Members of
the Ply System.
Member means an actively employed General Employee who fulfills the prescribed
p..-tic p membership requirements. Benefit improvements which. in the past. have been
KL 4VL {4
provided for by amendments to the System adopted by City ordinance. and any benefit
improvements which might be made in the future shall apply prospectively and shall not
apply to Members who terminate employment or who retire prior to the effective date of any
ordinance adopting such benefit improvements. unless such ordinance specifically provides
to the contrary.
Page 4
•
Plan Year means the twelve (12) month period beginning. October 1 and ending,
September 30 of the following year..
Retiree means a Member who has entered-Retirement Status.
Retirement means a Member's separation from City employment with eli2ibilitv for
immediate receipt of benefits under the System.Salary means means the total mew compensation reported on the Member's W-2 form
plus all tax deferred. tax sheltered or tax exempt items of income derived from elective
employee payroll deductions or salary reductions. Compensation in excess of limitations set
forth.in. Section 401 (a)(17) of the Code shall be disregarded.: The limitation on
compensation for an "eligible employee" shall not beless than the amount-which.was allowed
to be taken into account hereunder as in effect on July 1, 1993. "Eligible employee" is an
individual who was a Member before the first Plan Year beginning after December 31, 1995.
Spouse means the lawful wife or husband of a Member or Retiree at the time oe-
benefits become payable.
System means the City of Ocoee Municipal General Employee's Retirement Trust
Fund as contained herein and all amendments thereto.
2. Masculine Gender. The ma , unless the:
context spcci.i-all require:: othar_-izz, ..L
..,w.. �r 4.,� L..L,�...�„ ,,,,,.. the feminine and .masculine :
genders.
SECTION 2. MEMBERSHIP.
1. Conditions of Elizibility.
Subject to A. 7 of this subsection, all General Employees as of the •
Effective Date; and all future new General Employees, shall become Members of this System
as a condition of employment.
A. The following employees, however, may, within ninety (90) days of-the
effective date of this ordinance or n . ni ty (90) days of he date e€ his or her
employment, whiehevcr ;,: L to notify the Board and the city of his or her election not to
be a member of the plan System. Thereupon, it shall be the duty of the Board of Trustees
to refund, from the Fund, the full amount without interest, withheld from such employee's
salary and deposited in the Fund. Thenceforward, no withholding shall be made from his
or her salary and all employees who have given such notice shall be banned from
participating in the System. The employees who are eligible to opt out of the System are:
a) Finance Director
b) Public Works Director -
c) City Engineer
d) Personnel and Human Relations Director
e) Planning Director
f) City Clerk
: g) Chief Building Official
h) Administrative Services Director
E. ." C...,- ' Employee as of the effective date of this ordinance may,
t:.n (10) days of the effective dae f this ordinance, notify the-Board and the City
his-e cc c. .ot to be a member of the Ran. Thore pon, it be duty d
J..L..1 V V Y.V duty
Page 5
of Trustees to refund, from the Fund, the full amen-a withaut • s" .ith eld f-,.
wuvaaau nauar7IIT1a2iT.r �� , - .v1.a uJvh
and-depesit:.d the Fund. T...,... ...a..; ,.a
and all empleyees whe have e banned from
2. Membership
Each General Employee shall complete a form prescribed by the Board pro-
viding fir the
A
.,.
E. D designation of a-Beneficiary orBeneficiariesi= ;-:
?. Change in Designation of Beneficiary
by notica
to the Board upon rma -rc ided by cBoaz-. ..,T cue. l change, the rights of all
ciz z cc reecivc any benefits under the System shall cease.
SECTION 3. BOARD OF TRUSTEES.
1. The. sole and exclusive administration of and responsibility for the proper
operation of the :c c crit System and for making effective the provisions of this ordinance
are hereby vested in a Board of Trustees. The Board of Trustees is hereby designated as the
plan administrator. The Board of Trustees shall _consistin of five (5) Trustees, two of
whom, unless otherwise prohibited by law, shall be legal residents of the munieipality City,
who shall be appointed by the Ocoee City Commission, and two of whom shall be full-time
c crc' Emj,'cy Members of the System, who shall be elected by a majority of the
'v vuV.aaa i.aa av Vv
General Employees who are Members of the system. The fifth Trustee shall be chosen fe
a twe-(2) year term by a majority of the previous four Trustees as provided for herein, and
such person's name shall be submitted to the Ocoee City Commission. Upon receipt of the
fifth person's name, the Ocoee City Commission shall, as a ministerial duty, appoint such
person to the Board of Trustees as its fifth Trustee. The fifth Trustee shall have the same
rights as each of the other four Trustees appointed or elected as herein provided and shall
serve a two (2) year term unless • he
or she sooner vacates the office. Each resident Trustee shall serve as Trustee for a period
of two (2) years, unless he or she sooner vacates the office or is sooner replaced by the
Ocoee City Commission at whose pleasure theme he or she shall serve;and-may
auccccd himself as a Trustee. Each General Employee Member Trustee shall serve as
Trustee for a period of two (2) years, unless he or she sooner leaves the employment of the
City as a General Employee or otherwise vacates his or her office as Trustee, whereupon a
successor shall be chosen in the same manner as the departing Trustee. Each General
Employee Trustee may succeed himself or herself in office. The Board shall establish and-
administer the nominating and election procedures for each election. The Board efTrustees
shall meet at least quarterly each year. Each Board of Trustees The Board shall be a legal
entity with, in addition to other powers and responsibilities contained herein, the power to
bring and defend lawsuits of every kind, nature, and description.
2. The Trustees shall, by a majority vote, elect a Chairman and a Secretary. The
Secretary of the Board shall keep a complete minute book of the actions, proceedings, or
hearings of the Board. The Trustees shall not'receive any compensation as such, but may
receive expenses and per diem as provided by law.
Page 6
•
3. Each Trustee shall be entitled to one vote on the Board. Three (3) affirmative
votes shall be necessary for any decision by the Trustees at any meeting of the Board. A
Trustee shall have the nght to recuse himself or herself from voting as the result of a conflict
of interest provided that thg.Trustee complies with
the provisions of Section 112.3143. Florida Statutes.
4. The Board of Trustees shall engage such actuarial, accounting, legal, and other
services as shall be required to transact the business of the Retirement System. The
compensation of all persons engaged by the Board of Trustees and all other expenses of the
Board necessary for the operation of the Rent System shall be paid from the Fund at-
such rates and m such amounts as the Board of Truatccs shall agree. ..
5. The duties and responsibilities of the Board of Trustces.shall include, but not
necessarily be limited to, the following:
A. To construe the provisions of the System and determine_ all questions
arising thereunder.
B. To determine all questions relating to eligibility and partieipatien
membership.
C. To determine and certify the amount of all retirement allowances or
other benefits hereunder.
D. To establish uniform rules and procedures to be followed for
administrative purposes, benefit applications and all matters required to
administer the System.
E. To distribute to Members, at regular intervals, information concerning
the System.
F. To receive and process all applications fornd benefits.
G. To authorize all payments whatsoever from the Fund, and to notify the
disbursing agent, in writing, of approved benefit payments and other
expenditures arising through operation of the System and Fund.
H. To have performed actuarial studies and valuations at
least as often as reauired bv_ law, and make recommendations regarding
any and all changes in the provisions of the System.
I. To perform such other duties as are spccif;,e ii this Ordinance
required to prudently administer the System.
SECTION 4. FINANCES AND FUND MANAGEMENT.
Establishment and Operation of Fund.
1. As part of the System, there is-hereby-established exists,the Fund, into which
shall be deposited all of the contributions and assets whatsoever attributable to the System,
including the assets of the prior Municipal General Employee's Retirement Trust Fund.
2. The actual custody and supervision of the Fund (and assets thereof) shall be
vested in the Board of Trustees. Payment of benefits and disbursements from the Fund shall
be made by the disbursing agent but only upon written authorization from the Board.
Page 7 .
3. All funds and-seetifities of the Municipal General Employee's Retirement Trust
Fund may be deposited by the Board of Trustees with the Finance Director of therie-
ipality City, acting in a ministerial capacity only, who shall be liable in the same manner and
to the same extent as he or she is liable for the safekeeping of funds for the municipality
City. However, any funds and-seemities so deposited with the Finance Director of the
City shall be kept in a separate fund by the Finance Director or clearly
identified as such funds and-seemitiea of the Municipal General Employee's Retirement Trust
Fund. In lieu thereof, the Board of Trustees shall deposit the funds and of the
Municipal General Employee's Retirement Trust Fund in a qualified public depository as
defined in §280.02, Florida Statutes, which depository with regard to such funds and
seemitiee shall conform to and be bound by all of the provisions of Chapter 280, Florida.
Statutes. In order to fulfill its investment responsibilities as set forth herein, the Board may
retain the services of a custodian bank, an investment advisor registered under Investment
Advisors Act of 1940 or otherwise exempt from such required registration, an insurance
company, or a combination of these, for the purposes of investment decisions and
management. Such investment manager shall have discretion, subject to any guidelines as
prescribed by the Board, in the investment of all Fund assets.
4. All funds and securities of the System may be commingled in the Fund,
provided that accurate records are maintained at all times reflecting the financial composition
of the Fund, including accurate current accounts and entries as regards the following:
A. Current amounts of Accumulated Contributions of Members on both an •
individual and aggregate account basis, and
B. Receipts and disbursements, and
C. Benefit payments, and
D. Current amounts clearly reflecting all monies, funds and assets
whatsoever attributable to contributions and deposits from the City, and
E. All interest, dividends and gains (or losses) whatsoever, and
F. Such other entries as may be properly required so as to reflect a clear
and complete financial report of the Fund.
5. An independent audit shall be performed annually by a certified public
accountant for the most recent fiscal year of the City showing a detailed listing of assets and
a statement of all income and disbursements during the year. Such income and
disbursements must be reconciled with the assets at the beginning and end of the year. Such
report shall reflect a complete evaluation of assets on both a cost and market basis, as well
as other items normally included in a certified audit.
6. The Board of Trustcca shall have the following investment powers and
authority:
A. The Board of Trustees shall be vested with full legal title to said Fund,
subject, however, and in any event to the authority and power of the
Ocoee City Commission to amend or terminate this Tru3t Fund,
provided that no amendment or Fund termination shall ever result in
the use of any assets of this Fund except for the payment of regular
expenses and benefits under this System. except as otherwise provided
herein. All contributions from time to time paid into the Fund, and the
income thereof, without distinction between principal and income, shall
Page 8 •
be held and administered by the Board or its agent in the Fund and the .
Board shall not be required to segregate or invest separately any
portion of the Fund.
B. All monies paid into or held in the Peeeienn Fund shall be invested and
reinvested by the Board and the investment of all or any part of such
funds shall be limited to:
(1) Annuity and life insurance contracts with life insurance
companies in amounts sufficient to provide, in whole or in part,
the benefits to which all of the participants- Members, in the
Fund shall be entitled under the provisions of this System and
pay the initial and subsequent premium.thereon.
(2) Time or savings accounts of a national bank, a state bank or a
savings/building and loan association insured by the Federal
Deposit Insurance Corporation.
(3) Obligations of the United States or obligations guaranteed as to
principal and interest by the government of the United States.
(5 4) Bonds, stocks, mutual funds, commingled funds administered by
National or State Banks or evidences of indebtedness issued or
guaranteed by a corporation organized under the laws of the
United States, any state or organized territory of the United
States, or the District of Columbia, provided that the security of •
the corporation is traded on a nationally recognized exchange
and holds a rating or ranking in one of the three highest
classifications by a major rating or ranking service, and if such
investments are made in a commingled fund administered by a
state or national bank, then the rating or ranking of each issue
in the commingled fund shall hold a rating or ranking within the
top three (3) rating or ranking classifications of a major rating
or ranking service and international securities shall be permitted
in a mutual fund or commingled fund to the extent provided for
in subsection 6.C. below.
C. The Board of Trustees shall not invest more than five percent (5%) of
its assets in the common stock or capital stock of any one issuing
company, nor shall the aggregate investment in any one issuing
company exceed five percent (5%) of the outstanding capital stock of
that company; nor shall the aggregate of its investments in common
stock, capital stock and convertible bonds at cost exceed fifty percent
(50%) of the, assets of the Fund. The Board may invest up to ten
percent (10%) of the total fund asset value at cost in international
securities in a mutual fund or commingled fund. The Board shall
provide a report to the City on the international investment experience,
• five years from the date this international investment authority is added
to the System, in order for the City to consider the advisability of
• amending the System by increasing or decreasing the extent of
international investments.
Page 9
D. The Board of Trustcca may retain in cash and keep unproductive of
income such amount of the Fund as it may deem advisable, having
regard for the cash requirements of the System.
E• *T� chz-11 '-- ?iablc for the ina •- -
f
flegliger-Z.; llful misconduct c L c z Vl good fai
F E. The Board may cause any investment in securities held by it to be
registered in or transferred into its name as Trustee or into the name of
such nominee as it may direct, or it may retain them unregistered and
in form permitting transferability, but the books and records shall at all
times show that all investments are part of the Trust Fund.
FT F. The Board is empowered, but is not required, to vote upon any stocks,
bonds, or securities of any corporation, association, or trust and to give
general or specific proxies or powers of attorney with or without power
of substitution; to participate in mergers, reorganizations, recapitaliza-
tions, consolidations, and similar transactions with respect to such
securities; to deposit such stock or other securities in any voting trust
or any protective or like committee with the Trustees or with
depositories designated thereby; to amortize or fail to amortize any part
or all of the premium or discount resulting from the acquisition or
disposition of assets; and generally to exercise any of the powers of an..
owner with respect to stocks, bonds, or other investments comprising
the Fund which it may deem to be to the best interest of the Fund to
exercise.
H G. The Board shall not be required to make any inventory or appraisal or
report to any court, nor to secure any order of court for the exercise of
any power contained herein.
H. Where any action which the Board is required to take or any duty or
function which it is required to perform either under the terms herein
or under the general law applicable to it as Trustee under this
ordinance, can reasonably be taken or performed only after receipt by
it from a Member, the City, or any other entity, of specific informa-
tion, certification, direction or instructions, the Board shall be free of
liability in failing to take such action or perform such duty or function
until such information, certification, direction or instruction has been
received by it.
I. Any overpayments or underpayments from the Fund to a Members
Retiree or Beneficiary caused by errors of computation shall be
adjusted with interest at a rate per annum approved by the Board in
such a manner that the Actuarial Equivalent of thebenefit to which the
Member. Retiree or Beneficiary was correctly entitled to. shall be paid.
Overpayments shall be charged against payments next succeeding the
correction or collected in another manner if prudent. Underpayments
shall be made up from the Trust Fund in a prudent manner.
K J. The Board shall sustain no liability whatsoever for the sufficiency of
the Fund to meet the payments and benefits herein provided for.
Page 10
I . In any application to or proceeding or action in the courts, only the
Board shall be a necessary party, and no Member or other person
having an interest in the Fund shall be entitled to any notice or service
of process. Any judgment entered in such a proceeding or action shall
be conclusive upon all persons.
M L. Any of the foregoing powers and functions reposed in the Board may
be performed or camed out by the Board through duly authorized
agents, provided that the Board at all times maintains continuous
supervision over the acts of any such agent; provided further, that legal
title to said Fund shall always remain m the Board of Tru3tcca.
SECTION 5. -CONTRIBUTIONS.
1. Member Contributions.
A. Amount. Each Members of the went System shall be required
to make regular contributions to the Fund in the amount of five percent
(5%) of his or her Salary. Member contributions withheld by the City
on behalf of the Member shall be deposited with the Board of Trustccs
at least monthly. The contributions made by each Member to the Fund
shall be designated as employer contributions pursuant to §414(h) of the
Code ef-19-86. Such designation is contingent upon
the contributions being excluded from the Members' gross income for
Federal Income Tax purposes. For all other purposes of the Plan
System, such contributions shall be considered to be Member
contributions.
B. Method. Such contributions shall be made by payroll deduction.
2. City Contributions.
•
So long as this System is in effect, the City shall make quarterly contributions
to the Est Fund in an amount equal to the difference in each year, between the total
aggregate Member contributions for the year and the total cost for the year, as shown by the
most recent actuarial valuation of the System. The total cost for any year shall be defined
as the total normal cost plus the additional amount sufficient to amortize the unfunded past
service liability r�over a €o {40) thirty (301 year period, commencing with the fiscal year
in which the Effective Date of this System occurs.
3. Other.
Private donations, gifts and contributions may be deposited to the Fund, but
such deposits must be accounted for separately and kept on a segregated bookkeeping basis.
Funds arising from these sources may be used only for additional benefits for Members, as
determined by the Board, and may not be used to reduce what would have otherwise been
required City contributions.
•
SECTION 6. BENEFIT AMOUNTS AND ELIGIBILITY.
1. Normal Retirement Date.
•
A Member's normal retirement date shall be the first day of the month
coincident with, or the next following age sixty (60) regardless of the years of Credited
Service. A Member may retire on his or her normal retirement date or on the first day of
Page 11
•
•
any month thereafter, and each Member shall become 100% vested in his or her accrued
benefit on the Member's normal retirement date. Normal retirement under the Plaft System
is Retirement from employment with the City on or after the normal retirement date.
2. Normal Retirement Benefit.
A Member.retiring hereunder on or after his or her normal retirement date
shall receive a monthly benefit which shall commence on the first day of the month next
following,his or her Retirement Date and be continued thereafter during Member's lifetime,
ceasing upon death, but with one hundred twenty (120) monthly payments guaranteed in any
event. The monthly retirement benefit shall equal two percent (2%) of Average Final
Compensation, for each year of Credited Service.
3. Early Retirement Date
A Member may retire on his or her early retirement date which shall be the
first day of any month coincident with or next following the later of the attainment of age
fifty (50) and the completion of five (5) years of Credited Service. Early retirement under
the Plan is Retirement from employment with the City on or after the early retirement date
and prior to the normal retirement date.
4. Early Retirement Benefit.
A Member retiring hereunder on his or her early retirement date may receive
either a deferred or an immediate monthly retirement benefit payable for life as follows: ".
A. A deferred monthly retirement benefit which shall commence on what
- would have been his or her normal retirement date had he or she
remained a General Employee and shall be continued on the first day
of each month thereafter. The amount of each such deferred monthly
retirement benefit shall be determined in the same manner as for
retirement as his or her normal retirement date except that Credited
Service and Average Final Compensation shall be determined as of his
or her early retirement date; or
B. An immediate monthly retirement benefit which shall commence on his
or her early retirement date and shall be continued on the first day of
each month thereafter. The benefit payable shall be as determined in
paragraph A above, which is actuarially reduced from the amount to.
which he or she would have been entitled had he or she retired on his
or her normal retirement date and with the same number of years of
Credited Service as at the time his or her benefits commence and based
on his or her Average Final Compensation at that date.
5. . rice arc nt I .,t;. Winel .
A l►
1 a. �• �rc /S.q�e
ditcd SeT Va ico v a V;fere
September 30, 1994 shall be deemed "Eligible Member" may elect
r:.cci c the benefits set forth :r. 't on that
they elect to retire on or before September 30, 1994-.
B. Eligible Members shall be eligible to retire and receive a Normal
Retirement Benefit to be computze as-set-forth insubsection '' abe Vaaa.JY W\a lYa La w ^,
Page 12
i bd less than forty percent
SECTION 7. PRE-RETIREMENT DEATH.
1 rrior to Vcstine or Eligibility for Retirement. The beneficiary of a deceased
Member-wk. :::, r. ;:, ;,z ;vh was-nct ;;,t stcd or
2. Deceased General Employees Vestcd or Eligible for'Re irc:::c — y
-r V:arly retirement as of
V1.l.4Ll Vl
his or her ate of death, the benefit payab ,
retirement.
1 Prior to Vesting or Eligibility for Retirement.
The Beneficiary of a deceased Member who was not receiving monthly benefits
or who was not vet vested or eligible for early or normal retirement shall receive a refund
of one-hundred percent (100%1 of the Member's Accumulated Contributions.
2. Deceased Members Vested or Eligible for Retirement.
The Beneficiary of any Member who dies and who. at the date of his or her
death was vested or eligible for early or normal retirement. shall be entitled to a benefit as
follows:
A. If the Member was vested. but not eligible for normal or early
retirement. the Beneficiary shall receive a benefit payable for ten years.
beginning on the date that the deceased Member would have been
eligible for early or normal retirement. at the option of the Beneficiary.
The benefit shall be calculated as for normal retirement based on the
deceased Member's Credited Service and Average Final Compensation
as of the date of his or her death and reduced as for early retirement.
if applicable. The Beneficiary may also elect to receive an immediate
benefit, payable for ten years. which is actuarially reduced to reflect
the commencement of benefits prior to the early retirement date.
B. If the deceased Member was eligible for normal or early retirement. the
Beneficiary shall receive a benefit payable for ten years. beginning on
the first day of the month following the Member's death or at the
deceased Member's otherwise normal retirement date. at the option of
the Beneficiary. The benefit shall be calculated as for normal
retirement based on the deceased Member's Credited Service and
Average Final Compensation as of the date of his or her death and
reduced as for early retirement. if applicable.
C. A Beneficiary may not elect an optional form of benefit. however. the
Board may elect to. make a lump sum payment pursuant to Section 10.
subsection 7.
D. A Beneficiary may. in lieu of any benefit provided for in A or B above.
elect to receive a refund of the deceased Member's Accumulated
Contributions.'
Page 13
SECTION 8. VESTING.
If a Member terminates his or her employment with the City, either voluntarily or by
discharge, and is not eligible for any other benefits under this System, thg Member shall be
entitled to the following:
1. If the Member has less than five (5) years Credited Service upon termination,
the Member shall be entitled to a refund of his or her Accumulated Contributions. or the
Member may leave it deposited with the Fund.
2. If the Member has five (5) or more years of Credited Service upon termination,
the Member shall be entitled to a monthly retirement benefit
of the-amount of such rctircma t izcomc et erwise ., determined in the same manner as for
normal or early retirement and based upon the Member's Credited Service. Average Final
Compensation and the benefit accrual rate as of the date of termination., payable to him a
her commencing at the Member's otherwise normal or early retirement date, provided he or
she, does not elect to withdraw his or her Accumulated Contributions and provided the
Member survives to his or her normal or early retirement date. If the Member does not
withdraw his or her Accumulated Contributions and does not survive to his or her otherwise
normal or early retirement date. his or her designated Beneficiary shall be entitled to a
benefit as provided herein for a deceased Member, vested or eligible for Retirement under
Pre-Retirement Death.
Any_ vested Member of the System whose position is terminated. for whatever
reason. but who remains employed by the City in some other capacity. shall have all
retirement benefits accrued LID to the date of such termination under this System preserved,,
provided he or she does not elect to withdraw his or her Accumulated Contributions from
this System. Such accrued retirement benefits shall be payable at his or her otherwise early
(reduced as for early retirement) or normal retirement date hereunder. or later. in accordance
with the provisions of this System.
SECTION 9 OPTIONAL FORMS OF BENEFITS. •
1. In lieu of the amount and form of retirement income payable in the event of
normal or early retirement as specified herein, a Ge:.c:a Employee Member, upon written
request to the Board ----- that such}
evidence ..'ii rot be rc;quir if such request is made at lean ur c (3) years prior to the date
&f commencement of rctin:a:ant or if such request is mad- --i`i 31X (6)-metes
;.,�..,.....b the effective date of the Par., i. ,
of Trustees, may elect to receive a retirement income or benefit of equivalent actuarial value
payable in accordance with one of the following options:
A. A retirement income of a larger monthly amount, payable to the
General Employee Member for his or her lifetime only.
B. A retirement income of a modified monthly amount, payable to the
General Employee Member during the joint lifetime of the General
Employee Member and a dependent joint pensioner designated-by the
General Emplc;ca Member, and following the death of either of them,
100%, 75%.,66-2/3%, or 50% of such monthly amounts payable to the
survivor for the lifetime of the survivor. Except where the Retiree's
joint pensioner is his or her Spouse. the present value of payments to
the Retiree shall not be less than fifty percent (50%) of the total-present
value of payments to the Retiree and his or her joint pensioner.
Page 14 -
C. u..v t
ate•.• 66116, ul
f
If a Member retires prior to the time at which social security benefits
are payable. he or she may elect to receive an increased retirement
benefit until such time as social security benefits shall be assumed to
commence and a reduced benefit thereafter in order to provide. to as
great an extent as possible. a more level retirement allowance during
the entire period of Retirement. The amounts payable shall be as
recommended by the actuaries for the System. based upon the social
security law in effect at the time of the Member's Retirement..
2. The Ge Member, upon electing any option of this Section, will.
designate the joint pensioner subsection 1.B.. above) or Beneficiary (or Beneficiaries) to
receive the benefit, if any, payable under the Plaft System in the event of Member's death,
and will have the power to change such designation from time to time,
sly.... ; dca ..... V„ subject to apprc..a. V, the Board of Trustees.
Such designation will name a joint pensioner or one or more primary Beneficiaries where
applicable. If a Gcne:ai Employee Member has elected an option with a joint pensioner or
Beneficiary and Member's retirement income benefits have commenced, Member may
thereafter change his or her designated joint-pensioner-or Beneficiary at any time, but may
only change his or her joint pensioner if the designated joint pensioner and the Member were
married at the time of Member's Retirement and are divorced subsequent thereto and the
joint pensioner is alive at the time of the change.
change and if the joint pc:.; ;,nc:; b
3. The consent of a General Employee's Member's or Retiree's joint pensioner
or Beneficiary to any such change shall not be required. The rights of all previously-
- -
- designated Beneficiaries to receive benefits under the System shall thereupon cease.
4. The Board of Trustcca may r..
joint cmcn
r.Va J�aiYL V V
a; a:.d sex of the former joint pensioner,
'„a%.• }e i pensioner, and the General Employee. Each such designation Upon change of
a Retiree's Beneficiary or joint pensioner in accordance with this Section. the Board shall
adjust the Retiree's monthly benefit by application of actuarial calculations to insure that the
benefit paid is the Actuarial Eauivalent of the Retiree's then-current benefit. Any such
Retiree shall pay the actuarial recalculation expenses and shall make repayment of any
overage of previously-paid pension benefits as a result of said recalculations. Each reauest
for a change will be made in writing on a form prepared by the Board of Trustees and on
completion will be filed with the Board of Trustees. In the event that no designated Benefici-
ary survives the General Employee Retiree, such benefits as are payable in the event of the
death of the Genczal Employee Retiree subsequent to"his or her Retirement shall be paid as
provided in Section 10.
5. Retirement income payments shall be made under the option elected in
accordance with the provisions of this Section and shall be subject to the following
limitations:
A. If a General Employee Member dies prior to his or her normal retire-
ment date or early retirement date, whichever first occurs, no retire-
Page 15
ment benefit will be payable under the option to any person, but the
benefits, if any, will be determined under Section 7.
B. If the designated beneficiary (or beneficiaries) or joint pensioner dies
before theGeneralloyee-a Member's. Retirement under the Plan
System, the option elected will be canceled automatically and a
retirement income of the normal form and amount will be payable to
the Cenral Employee Member upon his or her Retirement as if the
election had not been made, unless a new election is made in
accordance with the provisions of this Section or a new Beneficiary is
designated by the Genes Member prior to his or her,Retire-
ment
C. If both the Retiree and the Beneficiary (or
Beneficiaries) designated by Member or Retiree die before the full
payment has been effected under.any option providing for payments for
a period certain and life thereafter, made pursuant to the provisions of
subsection 1, the Board of—Trustees may, in its discretion, direct that
the commuted value of the remaining payments be paid in a lump sum
and in accordance with Section 10.
D. If a Cenral Employee Member continues beyond his or her normal
retirement date pursuant to the provisions of Section 6, subsection 1,
and dies prior to his or her actual retirement and while an option made
pursuant to the provisions of this Section is in effect, monthly
retirement income payments will be made, or a retirement benefit will
be paid, under the option to a Beneficiary (or Beneficiaries) designated
by the General Employee Member in the amount or amounts computed
as if the General Employee Member had retired under the option on the
date on which his or her death occurred.
6. A General Employee Retiree may not change his or her retirement option after
the date of cashing or depositing his or her first retirement check.
7. Notwithstanding anything herein to the contrary, the Board in its discretion,
may elect to make a lump sum payment to a Member or a Member's Beneficiary in the event
that the total commuted value of the remaining monthly income payments to be paid do not
exceed Three Thousand Five Hundred Dollars ($3,500.00). Any such payment made to any
person pursuant to the power and discretion confined upon the Board of Trustees by the
preceding sentence shall operate as a complete discharge of all obligations under the Plan
System with regard to such Member and shall not be subject to review by anyone, but shall.
be final, binding and conclusive on all persons.
SECTION 10. BENEFICIARIES.
1. Each Genes Member or Retiree may, on a form provided for that
purpose, signed and filed with the Board of Trustees, designate a Beneficiary (or
Beneficiaries) to receive the benefit, if any, which may be payable in the event of his or her
death, ; an-2, c Each designation may be revoked or changed by such
Member or Retiree by signing and filing with the Board of Trustees a new designation-of-
beneficiary form. Upon such change. the rights of all previously_ designated Beneficiaries
to receive any benefits under the System shall cease.
2. If a deceased General Employee Member or Retiree moils failed to name a
Beneficiary in the manner prescribed in subsection 1, or if the Beneficiary (or Beneficiaries)
Page 16
named by a deceased Member or Retiree predeceased, the
General Employee Member or Retiree, the death benefit, if any, which may be payable
under the Plait System with respect to such deceased Member or Retiree
shall be paid to the estate of the Member or Retiree., may ice patdr
Board of Trustees, either to:
•
A. The wife or dependent children of thc General Employee;
B. The dependent living parents of the General Employee; or
C. Est • f the Cone al Employee.
��ZI V VlaVl
SECTION 11. CLAIMS PROCEDURES BEFORE THE BOARD DECISION. _
1. If any Member of the system has been:
A. Placed en pen;u
of years to entitle him to a pension, or
B. Refused benefits under this Plan, an
_he__ld
�IlaUlVla the , Ja/V YaY lJV �rlly
to benefit. nde_• the Pl.._. d M ber may, in writing, request the
fore V aV.. his case. The Board shall review the case and enter •
such order thereon as it deems rib
s. (��.p � s. .._a bra --,.__ extend the time
11 Vaaa 1V VVJlJb VUb Kaa.i 4 alaKJ
1 ,.L. e d b dditi 1 C (4 r if t
Ka a V1 6, 1a r V �T.i J uKys ii 1T-ayC�ii
mines such time is necessary fez discovery in fiat: and adequate review:-
the event that the order from the Board denies the claim for a cl=g- iia
"�"��c,��:L�bze�n..,e�fits e= denies the claimer bene e order of the Board shall be put in writing.
Otieh-w ltbca '.J±W r
A. The specific reasons for the dc�iz' i-
aaabaa, aaac
tinent provisions of the retirement system on which such denial is
at the Beard
B. t
l KIL Y/V
feels is necessary for the Member to perfect his-elainiTtegether with an
exp K Ktie a of wh sitela material F t U..K..ra,.. and.
l
- C. An explan`a�.ion of the review proced
}�ure next open to the •l�Membez.
-Such 1erierr• paeVedurc shall provide that:
<1) frier to such review, the Member cr his duly aut:cr+u,cd
3c 4..t.v.. �... is including
P�KbLyya Yp, V��may a V Y/+iav Y1 any UVL LJ
Plan pze ruislens, LU tes of the meeting V
denial of the claim was originally reccnxnen er
• documents material to the case;
(2) After such review, the Member and/or his duly autheri2oel
representetive-shall submit 4
uua�aaub
•
request a hearing. Such submission shall be filed with thc
Beard na—late: than pin:ty (90) days after the receipt of the
V YI ll
order of the Board. Upon receipt of the written submission by
pail eppo
Page 17
8I a2Ed
•
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•aupum
ut pa;sanbaa aq 4snui au.rEaq jjnj E gotgm ut ;tunj awn age
puE urtEi3 aq3 uo EuLEaq jjrg E o3 ;gall aq1 Jo uoLEUEiaxa ud
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Jo s1q IOOJaaa o3 IUEUI[ED ag3 Joj naEssaoau uraap AEur pauog
alp 3Eg3 uuµeuuud.u[ ao jeuupwpe AUE JO uopauoSap V TV
:pasuq 01E suotsnjouoo Bons gotgm
uo UtamsAs aq; Jo suotstnoaa ;uaup1aa o; saouaaajaJ ogtoaas
bupiupui 'Rms. aq; Jo suotsntouoo puE SaUtpug ogtoaas ag,j;
:apniout jjugs aapao
aqZ luuunuo age o3 paptnoaa aq Hugs aapao ua3unn a4Z 0113
uo buuwujJuu'J pUE JDuyuy. Sat gaaoJ aUtnas aapao uE aa3ua jogs pIEog •
alp zup.edL{ jugtui.alp lu urrj alp jo matnaa agl Jo uogaiauroo uoan :0 •
•Jig uotsuaa aq; ut pautE3uoo ApuaajE
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•BUUEaH IEgtuI 'Z
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•uotstoap s‘p1Eog alp oa Jolla uoIEuuoJut
;UEnajaa TIE S2n1.000J piEog alp ;Egg aanssE o3 Jaw Li! aouaptna
�o uogquasaaa puE Aaanoostp aq; ut pJEog aq; 3sissE o3 •aanpaooad
suIIEjo ag1 3noganoJg3 •jasuno3 jPaauaO alp Jo uopoun3 gip aq Hugs II r3
•aurg Jo Suotsua3xa Jap.rnJ oa a3Ejnags AEur ;utauu jJ NI we jasunoD
jgaauaO agj •matnaa a3unnapE puE AJanoostp HT Joj AIESSaoau
Si aurg goes S0UIUuaaap 2t Jt SAE (06) Nam jEuoptppE uE 303 Billing
TERM. Uu 3E aapao age auua3ua Joj aurg ag3 pua3xa AEUt pIEog a4Z
' utu1O alp Jo ;mow jo a,Ep ag; Wo.y SAEp (06) A4autu un.mAk aapao
uE aa3ua puE auUEag jEgtUI uE 4E WIELD ag3 matnOJ jjELS pauog aq,j, •g
•saaisn113o paEog alp Jo uotstoap E Aq pa3oaJ3u uosaaa nut Jo •Sall
-Etogauag •saaagau. •saaquraN m u► iput •(„2uuWIEj3„) uosJaa AUE Jo
Full hearing.
A Any Claimant may request a full hearing on the issues presented to the
Board at an initial hearing and upon which the Board has entered an
order as Provided in subsection 2.C. above.
B A full hearing must be reauested by the Claimant within ninety (901
days of the receipt of the Board's order. The order will be deemed
received three (31 days following the date it is mailed to Claimant at the
address provided to the Board by Claimant.
C Upon receipt of the request for a full hearing and considering the
amount of discovery which might be conducted. the Board shall
establish a date for the full hearing and cause notice to be given to the
Claimant. The full hearing shall be held within ninety (90) days from
the receipt of the request from the Claimant. The full hearing may be
postponed. if necessary and with the consent of the Claimant. to permit
full discovery of the facts.
D Copies of all documents to be offered into evidence at the full hearing,
including depositions. and a complete witness list with names and
addresses of witnesses expected to be called. shall be furnished to the
Board and the General Counsel by the Claimant at least twenty (201
days prior to the full hearing. Documents not furnished to the Board
within the prescribed time limit may be excluded from evidence at the
full hearing if a reasonable explanation is not provided for the delay in
providin g•the documents. -
E. A Claimant or the General Counsel may obtain discovery by deposition
and/or interrogatories prior to the full hearing. Written notice of any
depositions and/or interrogatories shall be given to the General Counsel
and the Claimant.
F. The costs.of any discovery. except discovery requested by the Board
or the General Counsel. the appearance of witnesses at the hearing. and
the making of a verbatim record of the proceedings shall be the
responsibility of the Claimant.
G The Claimant shall be responsible for the appearance of any witnesses
which he or she wishes to have testify at the hearing. The Board shall. .
however. have the power to subpoena and require the attendance of
witnesses and the production of documents for discovery prior to and
at the proceedings provided for herein. The Claimant may request in
writing the issuance of subpoenas by the Board. A reasonable fee may
be charged for the issuance of any subpoenas not to exceed the fees set
forth in Florida Statutes.
H. Testimony at the -full hearing may be submitted in the form of a
deposition. Depositions timely submitted will be part of the record
before the Board at the full hearing and will not be read in totality at
the full hearing: provided however. that this does not preclude the
Claimant or the General Counsel from reading parts of de-positions in
an opening or closing statement.
I. Irrelevant and unduly repetitious evidence shall be excluded.
Page 20
Any person who knowingly gives false testimony is guilty of a
misdemeanor of the first degree. punishable as provided in Section
775.082 or 775.083. Florida Statutes.
K The file maintained by the Board is part of the record before the Board
at the full hearing„
L All proceedings of the Board shall be conducted in public.
M In cases concerning an application for pension benefits. the burden of
proof. except as otherwise provided by law. shall be on the Claimant
seeking to show entitlement to such benefits.
N In cases concerning termination of pension benefits. the burden of proof
shall be on the Board.
K2, Except as to those records which are exempted from the provisions of
Chapter 119. Florida Statutes. Florida's Public Record taw. records
maintained by the Board are open for inspection and/or copying during
normal business hours at a reasonable cost for the copying
P Should a Claimant requesting an initial or full hearing decide to anneal
any decision made by the Board. with respect to any matter considered
at such hearing. the Claimant requesting an initial or full hearing will.
need a record of the proceedings and may need to assure that a
verbatim record of the Proceeding is made. The Claimant reauesting
an initial or full hearing will be responsible for obtaining a court
reporter or otherwise making a record of the proceedings before the
.Board.
Q. The decisions of the Board after the requested full hearing shall be final._
and binding.
R. Within fifteen (15) days after making a decision at the full hearing. the
Board shall enter a final order setting forth its findings and conclusions
and a copy of the order shall be provided to the Claimant.
S. Judicial review of decisions of the Board shall be sought bv_ the filing,
of a timely petition for writ of certiorari with the Clerk of the Circuit
Court. in the appropriate county.
4. Conduct of the Full Hearing.
A. The Chairman shall preside over the hearing and shall rule on all
evidentiary. procedural. and other legal questions that arise during the
hearing. The Chairman's rulings shall stand unless overruled by a
majority of the Trustees present. The Chairman shall open the full
hearing by explaining the procedures to be followed.
B. The Claimant shall have the right to be represented by counsel or be
self-represented. The General Counsel shall advise the Board.
C. The Claimant shall be allowed to make an opening statement not to
exceed ten (10) minutes.
Page 21
•
D Testimony of witnesses shall be under oath or affirmation. Depositions
And affidavits shall be admissible.
E The Chairman. any Trustee. the General Counsel. the Claimant or the
Claimant's counsel. upon recognition by the Chairman. may direct
auestions to any witness during the proceedings.
F Either the Claimant or the General Counsel shall have the right to
present evidence relevant to the issues. to cross examine witnesses. to
impeach witnesses and to respond to the evidence presented.
Gs The Claimant shall be permitted a closing argument not to exceed ....
fifteen (15) minutes.
H The Board shall deliberate and make a decision following closing
argument and thereafter enter an order as provided herein.
SECTION 12. ROSTER OF RETIREES.
The Secretary of the Board shall keep a record of all persons enjoying a pension
under the provisions of this ordinance in which it shall be noted the time when the pension
is allowed and when the same shall cease to be paid. Additionally, the Secretary shall keep
a record of all Members in such a manner
as to show the name, address, date of employment and date see ` i5
of termination of employment.
•
SECTION 13. BOARD ATTORNEY AND PROFESSIONALS.
The Board may employ independent legal counsel at the Pension Pupa's System's
expense for the purposes contained herein, together with such other professional, technical,
or other advisors as the Board deems necessary.
SECTION 14. MAXIMUM PENSION.
1. Basic Limitation.
Subject to the adjustments hereinafter set forth, the maximum amount of annual
retirement income payable with respect to a Member under this Plan System shall not exceed
the lesser of:
A $90,000_ (sr such 1 ascr dollar amount-as-may z. all wable-fer--a y
calendar oza. pursuant to s-115(b) of the Internal Revenue Code, as
adjusted i such calendar ;oar for ...V1V4JVs in the cost of living in
accordance with regulations issued by t o Sccrct":y Cif t c Trczsury
under §115(d) of the Code), or
E. 100%_ eft„ Mc_...har's a_ _a-c ......
V...V.,. J K•Va.abV .abbaVb
r.mp
consecutive calendar years during which the Gen:,..:..._....rleyee-has
an active Mcmbcr and had his highest aggrcgatc compensanen
-'C cmp: uc.." shall mean the General Employee's total annual
--v r_u� L YV VL YV
during the Plan Year as rapertc3 on the General Employee's W 2.
For purposes of applying the above limitation, benefits payable in any form
other than a straight life annuity with no ancillary benefits shall be adjusted, as provided by
Page 22
Treasury Regulations, so that such benefits are the Actuarial Equivalent of a straight life
annuity. For purposes of this Section, the following benefits shall not be taken into account:
(1) Any ancillary benefit which is not directly related to retirement
income benefits;
(2) Any other benefit not required under §415(b)(2) of the Internal
Revenue Code and Regulations thereunder to be taken into
account for purposes of the limitation of §415(b)(1) of the
Internal Revenue Code.
2. Participation in Other Defined Benefit Plans.
The limitation of this Section with respect to any Member who at any time has
been a Member in any other defined benefit plan (as defined in §414(j) of the Internal
Revenue Code) maintained by the City shall apply as if the total benefits payable under all
defined benefit plans in which the Member has been a member were payable from one plan.
3. Adiustments in Limitations.
In the event the Member's retirement benefits become payable before age 62,
the$90,000 limitation prescribed by this Section shall be reduced in accordance with Regula-
tions issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the
Code, but not less than $75,000. if the benefit begins at or after age fifty-
five (55).
In the event the Member's retirement benefit becomes payable before age fifty-
five (55), the $75,000 limitation shall be reduced from age fifty-five (55) in accordance with
Regulations issued by the Secretary of the Treasury pursuant to the provisions of§415(b) of
the Code.
The reductions provided for in the -previous two paragraphs shall not be
applicable to pre-retirement death benefits paid pursuant to Section 7.
If the Member's retirement benefit becomes payable after age sixty-five (65),
for purposes of determining whether this benefit meets the limitation set forth in subsection
1 herein, such benefit shall be adjusted so that it is actuarially equivalent to the benefit
beginning at age 65. This adjustment shall be made using an assumed interest rate of five
percent (5%) and shall be made in accordance with regulations promulgated by the Secretary
of the Treasury or his or her delegate.
4. Less than Ten Years of Service.
The maximum retirement benefits payable under this Section to any Member
who has completed less than ten (10) years of Credited Service with the City shall be the
amount determined under subsection 1 of this Section multiplied by a fraction, the numerator
of which is the number of the Member's years of Credited Service and the denominator of
which is ten (10). The reduction provided for in this subsection shall not be applicable to
pre-retirement death benefits paid pursuant to Section 7.
5. $10.000 Limit.
Notwithstanding the foregoing, the retirement benefit payable with respect to
a Member shall be deemed not to exceed the limitations set forth in this Section if the
benefits payable, with respect to such Member under this Plan System and under all other
Page 23
qualified defined benefit pension plans to which the City contributes, do not exceed$10,000
for the applicable Plan Year and for any prior Plan Year and the City has not at any time
maintained a qualified defined contribution plan in which the Member participated.
E. Accrued Benefit as of Effective Date.
_ �avdate
u, :asf��'w� � rv .
hereof, ha: ar. .cc Ica .e_eft - of that date that e_. , bay ons then eh
provided in c--'----` ever,"a ---cun ,of retirement-benefit-se
7 C. Member in Defined Contribution Plan.
In any case where a Member under this Plan System is also a member in a
"Defined Contribution Plan" as defined in §414(i) of the Internal-Revenue Code, maintained
by the City, the sum of the "Defined Benefit Plan Fraction" and the "Defined Contribution
Plan Fraction" (both as defined in §415(e) of the Code) shall not, subject
to the restrictions and exceptions contained in §2004 of the Act, exceed 1.0. This limitation
is repealed effective January 1. 2000.
$ 7. Reduction of benefits.
Reduction of benefits and/or contributions to all plans, where required, shall
be accomplished by first reducing the Member's benefit under any defined benefit plans in
. which Member participated, such reduction to be made first with respect to the plan in which
Member most recently accrued benefits and thereafter in such priority as shall be determined
by the trustees and the plan administrator of such other plans, and next, by reducing or allo-
cating excess forfeitures for defined contribution plans in which the Member participated,
such reduction to be made first with respect to the plan in which Member most recently
accrued benefits and thereafter in such priority as shall be established by the trustees and the .
plan administrator for such other provided, however, that necessary reductions may be made
in a different manner and priority pursuant to the agreement of the, trustees and the plan
administrator of all other plans covering such Member.
9 8. Cost-of-Living Adjustments.
The limitations as stated in Subsections 1, 2, 3, and 7 6 herein shall be
adjusted to the time payment of a benefit begins in accordance with any cost-of-living adjust-
ments prescribed.by the .Secretary of'the Treasury pursuant to §415(d) of the Internal
Revenue Code.
4-0 9. Additional Limitation on Pension Benefits.
Notwithstanding anything herein to the,contrary:
A. The normal retirement benefit or pension payable to a Retiree who
becomes a Member of the Plan System and who has not previously
participated in such�1 t System, on or after January 1, 1980, shall not
exceed 100 percent of his or. her Average Final Compensation.
However, nothing contained in this Section shall apply to supplemental
retirement benefits or to pension increases attributable to cost-of-living
increases or adjustments.
Page 24
B. No member of the Plan System who ; of n "'ber o f a et Pl....
shall be allowed to receive a retirement benefit or pension which is in
part or in whole based upon any service with respect to which the
Member is already receiving, or will receive in the future, a retirement
benefit or pension from another retirement system or plan. This
restriction does not apply to social security benefits or federal benefits
under Chapter 67, Title 10, U.S. Code.
SECTION 46 15. DISTRIBUTION OF BENEFITS.
Notwithstanding any other provision of this Plan System to the contrary, a form of
retirement income payable from this Plan System after the Effective Date of this ordinance,
shall satisfy the following conditions:
1. If the retirement income is payable before the Member's death,
A. It shall either be distributed or commence to the Member not later than
April 1, of the calendar year following the later of the calendar year in
which the Member attains age 70-1/2, or the calendar year in which
Member retires,
B. The distribution shall commence not later than the calendar year
defined above; and a), shall be paid over the life of the Member or
over the lifetimes of the Member and Spouse, issue or dependent, or
b), shall be paid over the period extending not beyond the life expect-
ancy of the Member and Spouse, issue or dependent.
Where a form of retirement income payment has commenced in accordance
with the preceding paragraphs and the Member dies before his or her entire interest in the
Plan System has been distributed, the remaining portion of such interest in the Plan System
shall be distributed no less rapidly than under the form of distribution in effect at the time
of the Member's death.
2. If the Member's death occurs before the distribution of his or her interest in
the Plafl System has commenced, Member's entire interest in the Plaft System shall be
distributed within five (5) years of Member's death, unless it is to be distributed in
accordance with the following rules:
A. The Member's remaining interest in the Plan System is payable to his
or her Spouse, issue or dependent;
B. The remaining interest is to be distributed over the life of the Spouse,
issue or dependent or over a period not extending beyond the life
expectancy of the Spouse, issue or dependent; and
C. Such distribution begins within one year of the Member's death unless
the Member's. Spouse, issue or dependent shall receive the remaining
interest in which case the distribution need not begin before the date on
which the Member would have attained age 70-1/2 and if the Spouse;
issue or dependent dies before the distribution to the Spousc, issue or
d:pc:dant begins, this Section shall be applied as if the Spousc, issue
or dependent were the Plan Member.
Page 25
SECTION 17 16. MISCEEtANEOUS PROVISIONS• •
1• Interest of Members in Ilensicr. Fu d System.
At no time prior to the satisfaction.of all liabilities under the Plea System with
respect to Retirees and Members and their Spouses or Beneficiaries, shall any part of the
corpus or income of the Pensien Fund be used for or diverted to any purpose other than for
their exclusive benefit.
z• L1e iidation of Pension Fund Assets.
A T •�•
. a• ay care •
�e •
11�
1 Kae v
Plan, the Board of Trustees
nation and liquidate the Pension Fund, in KeeVl:Knce—w' t e
applicable recturements of the Act ge:erni
spouses to benefits accrued to the date of any such termination or
,
diseenti
n ecc irrcncc of such event, the '
heJ1 beneficiaries and administered—and
distributed at such time .or times as is determined by the Board of
Trustees.
•
• B. An; reserves which shall be released ae a result of the application of
•the _._ : f Sec'e .1 o Subsection []t.,.11 t._ added to the
KSV previsions 0l IJV ValVll J.V, UKVJVetiQn 3E, 311K31 VV IA
1 ab _.e
KV V Y ta
restricted provided that in the event
_ are 11V.. d, �J1V Yid
that all of the benefits ac_i- ed to ct. Metrbe f-1;pre aided for,
KV VI dVd ^ JYII 1V♦1
L J.el_1
a eh V
meted to provide to the entcnt:possible up to one hundred percent
(100%) of the benefits c Le. z sc cancelled pursuant to Section 18,
Subsection ,J , s in pro
value of the benefits 30 cancelled.
C. Board of Trustee _ g e .
-hase of annuities?
o the foregoing paragraphs ., ;,�.: L b� the Y;;.e by
• eet:zuing the Trust Fund in existence and malci
1Y41 existence Lalld 111Kl�Lll
thereunder or -e:ls:;Jrl benefits, el- b; =
Trust• F _d—I f t e asses of the P J. V assets
distribution priority category arc insufficient to provide full benefits for
a perso s in , 'se payablep to such
e� d e leKeed proportionately except as may otherwise Ve
specified b; regulations. If- here is any balance remaining in the
Pension Fund after all ;J ers, joint-annuitants-7
,
beneficiaries and ; r
�puQ s areet ct. bar il re Y ert e
• t/Jay• The actuary shall. c,--eulate-the aal oc
gory, and certify his cafe la ieas to the Fi ueiar e ,
assets and payment ens
_ City-ill
... a v J is is d by the
' e req rre::ens iif n , of the Act governing
termination of "General Employee Pension Benefit Plans" have been,
•
Page 26
♦w ....bt..�r..w}.�.. w: a�s�7�
•
W YY Y�vaa�Aa�Qny, •...i•L1T
cxccpti;,:;. ;,r �attianeeu- hay;
vvv , ,
3 2. No Reduction of Accrued Benefits.
No amendment or ordinance shall be adopted by the City Commission of the
City of Ocoee which shall have the effect of reducing the then vested accrued benefits of
Members or a Member's Beneficiaries.
()ualification of System.
It is intended that the System will constitute a qualified public -pension plan
under the applicable provisions of the Code. as now in effect or hereafter amended. Any
modification or amendment of the System may be made retroactively. if necessary or
appropriate. to qualify or maintain the System as a Plan meeting the requirements of the
applicable provisions of the Code as now in effect or hereafter amended. or 'any other
applicable provisions of the U.S. federal tax laws. as now in effect or hereafter amended or
adopted. and the regulations issued thereunder.
4 Use of Forfeitures.
Forfeitures arising from terminations of service of Members shall serve only.
to reduce future City contributions.
SECTION 1-8 1.7., REPEAL OR TERMINATION OF SYSTEM.
1. This ordinance establishing the System and Fund, and subsequent ordinances
pertaining to said System and Fund, may be modified, terminated, or amended, in whole or
in part; provided that if this or any subsequent ordinance shall be amended or repealed in its
application to any person benefiting hereunder, the amount of benefits which at the time of
any such alteration, amendment, or repeal shall have accrued to the Member or Beneficiary
shall not be affected thereby, except to the extent that the assets of the Fund may be deter-
mined to be inadequate.
2. If this ordinance shall be repealed, or if contributions to the System are
discontinued, the Board shall continue to administer the System in accordance with the
provisions of this ordinance, for the sole benefit of the then Members, any Beneficiaries then
receiving retirement allowances, and any future persons entitled to receive benefits under one
of the options provided for in this ordinance who are designated by any of said Members.
In the event of repeal, or if contributions to the System are discontinued, there shall be full
vesting (100%.) of benefits accrued to date of repeal and the assets of the System shall be
allocated in an equitable manner to provide benefits on a proportionate basis to the persons
so entitled in accordance with the provisions thereof.
3. The following shall be the order of priority for purposes of allocating the assets
of the System as of the date of repeal of this Ordinance, or if contributions to the System are
discontinued with the date of such discontinuation being determined by the Board.
A. Apportionment shall first be made in respect of each Gene
Employee Retiree receiving a retirement benefit hereunder on such
date, each person receiving a benefit on such date on account of a
retired (but since deceased) General Employee Member, and each
General Employee Member who has, by such date, become eligible for
normal retirement but has not yet retired, an amount which is the
Actuarial Equivalent of such• benefit, based upon the actuarial
Page 27
w..0
---- r waa4416164vu,
provided that,.if such asset value be less than the aggregate of such
amounts, such amounts shall be proportionately reduced so that the
aggregate of such reduced amounts will be equal to such asset value.
B. If there be any asset value remaining after the apportionment under
paragraph A, apportionment shall next be made in respect of each
&en Member in the service of the City on such date who
• is vested and
who is not entitled to an apportionment under paragraph A, in the
amount required to provide the Actuarial Equivalent,as-dezcribc
awe, of the vested portion of the accrued normal retirement benefit
(but not less than Accumulated Contributions), based on the credited
Service and avc.z g .�.;,. Averaee Final Compensation as
of such date,. and each vested former Member then entitled to a
deferred benefit who has not, by such date, begun receiving benefit
payments, in the amount required to provide said Actuarial Equivalent
of the vested portion of the accrued normal retirement benefit (but not
less than Accumulated Contributions), provided that, if such remaining
asset value be less than the aggregate of the amounts apportioned
hereunder, such latter amounts shall be proportionately reduced so that
the aggregate of such reduced amounts will be equal to such remaining
asset value.
C. If there be any asset value after the apportionments under paragraphs
A and B, apportionment shall be made in respect of each &eaeral
Employee Member in the service of the City on such date who is not
entitled to an apportionment under paragraphs A and B in the amount
equal to Member's Accumulated Contributions, provided that, if such
remaining asset value be less than the aggregate of the amounts
apportioned hereunder such latter amount shall be proportionately
reduced so that the aggregate of such reduced amounts will be equal to
such remaining asset value.
D. If there be any asset value remaining after the apportionments under
paragraphs A, B, and C, apportionment shall lastly be made in respect
of each General Employee Member included in paragraph C above to
the extent of the Actuarial Equivalent, as described i:. gz pi 4
above-, of the non-vested accrued normal retirement benefit, less the
amount apportioned in paragraph C, based on the Credited Service and
av:age:aftt.hiy cr..r::.ga Average Final Compensation,as of such date,
provided that, if such remaining asset value be less than the aggregate
of the amounts apportioned hereunder, such amounts shall be reduced
so that the aggregate of such reduced amounts will be equal to such
remaining asset value.
E. In the event that there be asset value remaining after the full
apportionment specified in paragraphs A, B, C, and D, such excess
shall be returned to the City, less return of the State's contributions to
the State, provided that, if the excess is less than the total contributions
made by the City and the State to the date of termination such excess
shall be divided proportionately to the total contributions made by the
City and the State.
•
Page 28
The allocation of the Fund provided for in this Subsection may, as decided by
the Board be carried out through the purchase of insurance company contracts to provide the
benefits determined in accordance with this Subsection. The Fund may be distributed in one
sum to the persons entitled to said benefits or the distribution may be carried out in such
other equitable manner as the Board may direct. The Trust Fund, may be continued in
existence for purposes of subsequent distributions.
If, at any time during ,the first ten (10) years after the effective date of this
Oee the ordinance originally establishing this System, the System shall be terminated
or the full current costs of the System shall not have been met, anything in the System to the
contrary notwithstanding, City contributions which may be used for the benefit of any one
of the twenty-five (25) highest paid General Employ;,;, ;,r ' ' Members
on the effective date, whose anticipated_.annual•retirement allowance provided by,the City's
contributions at Member's normal retirement date would exceed $1,500, shall not exceed he
greater of either a) $20,000, or b), an amount computed by multiplying the smaller of
$10,000 or twenty percent (20%) of such 6 Member's average annual
earnings during his or her last five (5) years of service by the number of years of service
since the effective date. In the event that it shall hereafter be determined by statute, court
decision, ruling by the Commissioner of Internal Revenue, or otherwise, that the provisions
of this paragraph are not then necessary to qualify the System under the
Code, this paragraph shall be ineffective without the necessity of further amendment of this
ordinance.
4. e the vested and accrued benefits provided hereunder have been paid
and after.all otherAft lirabilitiesall have been satisfied, then and only then shall any remaining funds
revert to the general fund of the City. .
SECTION 4-9 18. EXEMPTION FROM EXECUTION.NON-ASSIGNABILITY.
Except as otherwise provided bv_ law, the pensions, annuities, or any other benefits
accrued or accruing to any person under the provisions of this ordinance and the
Accumulated Contributions and the cash securities in the Fund created under this ordinance <are hereby exempted from any state, county or municipal tax of the state and shall not be
subject to execution, attachment, garnishment or any legal process whatsoever and shall be
unassignable.
SECTION 20 19. PENSION VALIDITY.
The Board of Trustees shall have the power to examine into the facts upon which any
pension shall heretofore have been granted under any prior or existing law, or shall hereafter
be granted or obtained erroneously, fraudulently or illegally for any reason. Said The Board
is empowered to purge the pension rolls or correct the pension amount of any person
heretofore granted a pension under prior or existing law or heretofore any person hereafter
granted a pension under this ordinance if the same is found to be erroneous, fraudulent or
illegal for any reason; and to reclassify any person who has heretofore under any prior or
existing law been or who shall hereafter under this ordinance be erroneously, improperly or
illegally classified. Anv overpayments or under payments shall be corrected and paid or
• repaid in a reasonable manner determined by the Board.
SECTION 2-1 20. FORFEITURE OF PENSION.
• 1. Any General E.:.p1cyee Member who is convicted of,the following offenses
committed prior to retirement, or whose employment is terminated by reason of his or her
admitted commission, aid or abetment of the following specified offenses, shall forfeit all
Page 29
rights and benefits under this Pension Fund, except for the return of his or her Accumulated
Contributions as of the date of termination. 17 Specified offenses are as follows:
A. The committing, aiding or abetting of an embezzlement of public funds;
B. The committing, aiding or abetting of any theft by a public officer or
employee from employer;
C. Bribery in connection with the employment of a public officer or
employee;
D. Any felony specified in.Chapter 838, Florida Statutes;. :
E. The committing of an impeachable offense.
2 F. The committing of any felony by a public officer or employee who
willfully and with intent to defraud the public or the public agency, for
which he or she acts or in which he or she is employed, of the right to
receive the faithful performance of his or her duty as a public officer
or employee, realizes or obtains or attempts to obtain a profit, gain, or
advantage for himself or herself or for some other person through the
use or attempted use of the power, rights, privileges, duties or position
of his or her public office'or employment position.
A 2. Conviction shall be defined as fellews an adjudication of guilt by a court
of competent jurisdiction; a plea of guilty or a nolo contendere; a jury verdict of guilty when
adjudication of guilt is withheld and the accused is placed on probation;-or a"conviction by
the Senate of an impeachable offense.
$ a. " Court shall be defined as €ellows:--A any state or federal court of competent
jurisdiction;which is exercising its jurisdiction to consider a proceeding involving the alleged
commission of a specified offense. Prior to forfeiture, the Board of.Trustees shall hold a
hearing on which notice shall be given to the Member whose benefits are being considered
for forfeiture. Said Member shall" be afforded the right to have an attorney present. No
formal rules of evidence shall apply, but the Member shall be afforded a full opportunity to
present his or her case against forfeiture.
4. Any Member who has received benefits from the System in excess of his or
her Accumulated Contributions after Member's rights were forfeited shall be required to pay
back to the Fund the amount-of the'benefits received in excess of his or her Accumulated
Contributions. The Board of Trustees may implement all legal action necessary to recover
such funds.
SECTION 22 21. INDEMNIFICATION.
1. To the extent not covered by insurance contracts in force from time to time,
the City shall indemnify, defend and hold harmless members of the Board of Trustees from
all personal liability for damages and costs, including court costs and attorneys' fees, arising
out of claims, suits, litigation, or threat of same, herein referred to as "claims", against these
individuals because of acts or circumstances connected with or arising out of their official
duty as members of the Board of Trustees. The City reserves the right, in its sole discretion,
to settle or not settle the claim at any time, and to appeal or to not appeal from any adverse
judgment or ruling, and in either event will indemnify. defend and hold harmless any
members of the Board of from the judgment, execution, or levy thereon.
Page 30
2. This Section shall not be construed so as to relieve any insurance company or
other entity liable to defend the claim or liable for payment of the judgment or claim, from
any liability, nor does this Section waive any provision of law affording the City immunity
from any suit in whole or part,or waive any other substantive or procedural rights the City
may have.
3. This Section shall not apply nor shall the City be responsible in any manner
to defend or pay for claims arising out of acts or omissions of members of the Board of
Trustcca which constitute felonies or gross malfeasance or gross misfeasance in office.
SECTION 23 22. FAMILY AND MEDICAL LEAVE ACT.
The fractional parts of the twenty-four (24) month period ending.each March 1 that
a Member is on leave without pay from the City pursuant to the Family and Medical Leave
Act (FMLA) shall be added to his or her Credited Service provided that:
1. The Member contributes to the Fund the sum that he or she would have
contributed, based on his or her Salary and the Member contribution rate in effect at the time
that the Credited Service is requested, had he or she been a Member of the System for the
fractional parts of the twenty-four (24) months ending each March 1 for which he or she is
requesting credit plug amounts actuarially determined.such that the crediting of service does
not result in any cost to the Fund plus payment of costs for all professional services rendered
to the Board in connection with the purchase of periods of Credited Service.
2. The request for Credited Service for FMLA leave time for the twenty-four (24)
month period prior to each March 1 and payment of.professional fees shall be made on or
before March 31.
•
3. Payment by the Member of the required amount shall be made on or before
April 30 for the preceding twenty-four (24) month period ending March 1 and shall be made
in one lump sum payment upon receipt of which Credited Service shall be issued.
4. Credited Service purchased pursuant to this section shall not count toward
vesting.
SECTION 24 23. DIRECT TRANSFERS OF ELIGIBLE ROLLOVER
-DISTRIBUTIONS.
1. General.
This Section applies to distributions made on or_after January 1, 1993.
Notwithstanding any provision of.the System to the contrary that would otherwise limit a
distributee's election under this Section, a distributee may elect, at the time and in the
manner prescribed by the Board, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in a direct rollover.
2. Definitions.
A. Eligible Rollover Distribution: An eligible rollover distribution is any
distribution of all or any portion of the balance to the credit of the
distributee, except that an eligible rollover distribution does not include:
any distribution that is one of a series of substantially equal periodic
payments (not less frequently than annually) made for the life (or life
expectancy) of the distributee or the joint lives (or joint life expectan-
cies) of the distributee and the distributee's designated Beneficiary, or
Page 31
for a specified period of-:ten years or more; any distribution to the
extent such distribution is required under section 401(a)(9) of the Code;
and the portion of any distribution that is not includible in gross
income.
B. Eligible Retirement Plan: An eligible retirement plan is an individual
retirement account described in section 408(a) of the Code, an
individual retirement annuity described in section 408(b) of the Code,
an annuity plan described in section 403(a) of the Code, or a qualified
trust described in section 401(a) of the Code, that accepts the
distributee's eligible rollover distribution. However, in the case of an
eligible rollover distribution to the surviving Spouse, an eligible
retirement plan is: an- individual retirement:.account or individual
retirement annuity.
C. Distributee: A distributee includes an employee or former employee.
In addition, the employee's or former employee's surviving Spouse is
a distributee with regard to the interest of the Spouse.
D. Direct Rollover: A direct rollover is a payment by the plan to the
eligible retirement plan specified by the distributee.
SECTION 2S 24. SEPARATION FROM EMPLOYMENT FOR MILITARY
3'LRVICE.
The years or parts of a year that a Member' serves in the military service of the
Armed Forces of the United States, the United States Merchant Marine or the United States
Coast Guard, voluntarily or involuntarily, after separation from employment as a General
Employee with the City to perform training or service, and reemployment on or after
December 12. 1994. shall be added to his or her years of Credited Service for all purposes,
including vesting, provided that:
•
A. The General Employee must return to his or her employment as a General
Employee within one (1) year from the earlier of the date of his or her military
discharge or his or her release from service.
B. The General Employee deposits into the Fund the same sum that the Member
would have contributed if he or she had remained a General Employee during
his or her absence. The General Employee must deposit all missed contribu-
tions within a period equal to three (3) times the period of military service, but
not more than five (5) years or he or she will forfeit the right to receive
Credited Service for his or her military service pursuant to this Section.
C. The maximum credit for military service pursuant to this section shall be five
(5) years.
D. In order to qualify for the purchase of Credited Service pursuant to this
Section, the General.Employee must have been discharged or released from
service under honorable conditions.
E. This Section is intended to meet or exceed the minimum requirements of the
Uniformed Services Employment and Reemployment Rights Act (USERRA),
(P.L. 103-353). To the extent that this Section does not meet the minimum
standards of USERRA, as it may be amended from time to time, the minimum
standards shall apply.
dm\ocoee\gea\8-29-96G.ord
Page 32
- AGENDA 9-17-96
Item VIA 4
ORDINANCE NO. 4 6-7 0
AN.,ORDINANCE OF-THE CITY OF OCOEE, FLORIDA,
RELATING TO THE CITY OF OCOEE MUNICIPAL
POLICE OFFICERS' AND FIREFIGHTERS'RETIREMENT
TRUST FUND; AMENDING AND RESTATING IN FULL,
ORDINANCE NUMBER 91-09, AS. SUBSEQUENTLY
AMENDED;PROVIDING FOR DEFINITIONS;PROVIDING
FOR MEMBERSHIP; PROVIDING FOR A BOARD OF
TRUSTEES; PROVIDING FOR FINANCES AND FUND
MANAGEMENT; PROVIDING FOR CONTRIBUTIONS;
PRO VIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY;
PROVIDING FOR PRE-RETMEMENT DEATH BENEFITS;
PROVIDING FOR DISABILITY BENEFITS; PROVIDING
FOR VESTING OF BENEFITS; PROVIDING OPTIONAL
FORMS OF BENEFITS; PROVIDING FOR
BENEFICIARIES; PROVIDING CLAIMS PROCEDURES;
PROVIDING FOR REPORTS TO THE DIVISION OF
RETIREMENT; PROVIDING FOR A ROSTER OF
RETIREES; PROVIDING FOR A BOARD ATTORNEY AND
PROFESSIONALS; PROVIDING FOR A MAXIMUM
PENSION LIMITATION;PROVIDING FOR DISTRIBUTION
OF BENEFITS; PROVIDING MISCELLANEOUS
PROVISIONS; PROVIDING FOR REPEAL OR
TERMINATION OF THE SYSTEM; PROVIDING FOR
EXEMPTION FROM EXECUTION AND NON-
ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY;
PROVIDING FOR FORFEITURE OF PENSION UNDER
CERTAIN CIRCUMSTANCES; PROVIDING FOR
INDEMNIFICATION AND DEFENSE OF CLAIMS;
PROVIDING FOR THE PURCHASE OF CREDITED
SERVICE FOR ABSENCES PURSUANT TO THE FAMILY
AND MEDICAL LEAVE ACT; PROVIDING FOR DIRECT
TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS;
PROVIDING FOR THE PURCHASE OF CREDITED
SERVICE FOR PRIOR POLICE OR FIRE SERVICE;
PROVIDING FOR SEVERABILITY OF PROVISIONS;
REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH AND PROVIDING AN EFFECTIVE DATE.
SECTION 1: Authority. The City Commission of the City of Ocoee has the authority
to adopt this ordinance pursuant to Article VIII of the Constitution of the State of Florida and
Chapter 166, Florida Statutes.
SECTION 2: The present ordinances number 91-09, 94-06 and 94-07, adopted by the
City Commission of the City of Ocoee, are hereby amended and restated in full as set forth in
THE CITY OF OCOEE MUNICIPAL POLICE OFFICERS' AND FIREFIGHTERS'
RETIREMENT TRUST FUND, a copy of which is attached hereto, and by this reference made
a part hereof.
•
SECTION 3. Repeal of Ordinances. All ordinances or parts of ordinances in conflict
herewith are hereby repealed. •
SECTION 4. Severability. In the event any section, subsection, paragraph, sentence,
clause, phrase or word of this ordinance shall be held invalid by a court of competent
jurisdiction, then such invalidity shall not affect the remaining portions hereof.
SECTION 5. Effective Date. This ordinance shall take effect upon second reading and
adoption.
PASSED AND ADOPTED this day of , 1996.
APPROVED:
ATTEST: CITY OF OCOEE, FLORIDA
By:
Jean Grafton, City Clerk S. Scott Vandergrift, Mayor
(SEAL)
ADVERTISED mhar 19 , 1996
READ FIRST TJME Sept. 17 , 1996
READ SECOND TIME AND ADOPTED
, 1996
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA
APPROVED AS TO FORM AND LEGALITY
THIS day of , 1996.
•
CHRISTIANSEN & DEHNER, P.A.
Special Counsel
By:
APPROVED BY THE OCOEE CITY
COMMISSION AT A MEETING HELD
ON , 1996 UNDER
AGENDA ITEM NO.
•
dm\,per«
CITY OF OCOEE
MUNICIPAL POLICE OFFICERS' AND FIREFIGHTERS'
RETIREMENT TRUST FUND
SECTION 1. DEFINITIONS.
1. As used herein, unless otherwise defined or required by the context, the
following words and phrases shall have the meaning indicated:
Accumulated Contributions means a Member's own contributions without interest.
For those Members who purchase Credited Service with interest or at no cost to the System.
only that portion of any payment representing the amount attributable to Member
contributions based on the applicable plicable Member contribution rate. shall be included in '
Accumulated Contributions.
Act means the Employee Retirement Income Security Act of 1974 (P.L. 93-406) es
amended by the Retirement Equity Act of 1984 (P.L. 98 397) and any regulations issued
thereunder by the Department of Labor and the Internal Revenue Service, as that Statute and
these regulations shall be amended.
Actuarial Equivalent means a benefit or amount of equal value, based upon the UP
1984 Mortality Table and an interest rate of eight (8%) per annum.
Average Final Compensation means-one-twelfth (1/12) of the average Salary of the
five (5) best years of the last ten (10) years of Credited Service prior to Retirement, termina-
tion, or death, or the career average as a full-time Police Officer or Firefighter, whichever
• is greater. A year shall be twelve (12) consecutive months.
Beneficiary means the person or persons entitled to receive benefits hereunder at the
death of a Member who has or have been designated in writing by the Member and filed
with the Board. If no such designation is in effect, or if no person so designated is living,
at the time of death of the Member, the Beneficiary shall be the estate of the Member.
Board means the Board of Trustees, which shall administer and manage the System
herein provided and serve as trustees of the Fund.
City means City of Ocoee, Florida.
Code means the Internal Revenue Code of 1986, as amended from time to time.
Credited Service means the total number of years and fractional parts of years of
service as a Police Officer or Firefighter with Member contributions. when required omitting
intervening years or fractional parts of years when such Police Officer or—Firefighter
Member may not be was not employed by the City as a Police Officer or Firefighter. A
Firefighter Member mayvoluntarilyleave his or her contribution in the
Police Officer c� �u,.lrgl
Fund for a period of five (5) years after leaving the employ of the Police or Fire Department
pending the possibility of being rehired reemployed as a Police Officer or Firefighter, an4
re::.r.:r .g ;::ploycd for a period of not less than three (3) years, without losing credit for
• the time of active r eipa c: a. a Police °Meer C- F' cfighter that he or she was a
Member of the System. If the Police Officer cr Firefighter
per '' cf three (3) year ::p i- rV Member who left the employ of the Police
Y V11V.J Vl Y11VV
-1-
or Fire Department should not be reemployed as a Police Officer or Firefighter within five
(5) years, then the accumulated contributions will be returned upon his or her written
reauest. Upon return of his or her Accumulated Contributions. all of his or her rights and
benefits under the System are forfeited and terminated. However. a Firefighter may receive
credit for the years and fractional parts of years of service for which he has withdrawn his
contributions to the Fund for those years and fractional parts of years. if the Firefighter
repays into the Fund the contributions he has withdrawn. with interest. within 90 days after
his reemployment.
The years or fractional parts of years that a Police Officer Member or Firefighter
serves in the military service of the Armed Forces of the.United States or the United States
Merchant Marine, voluntarily or involuntarily,
after, separation from employment as a Police-O cer or Firefighter with the City. for the
purpose of going on active duty, shall be added to his or her years of Credited Service for
all purposes. including vesting. pursuant to conditions that are reauired or permitted under
state and federal law. as amended from time to time. provided that the Police Officer
Member must return to his or her employment as a Police Officer within one (1) year from
the date of his or her military discharge or release from active service under honorable
conditions.
:. The Police Officer or Firefighter must r;.:;:...t t a. a
Officer cr Firc-figl' with the-City within one (1) year from the e- s
D. The Police O€fiec cr Firefighter deposits into the Fund the same c;_:.-. tha
Member would have contributed had he. remained a Pc:icc Officer or
Fircf ghter _,.. ,_.
of deposit.
The credit for mill;:.:; ce ;ice chill be five (5) years.D. The Police Officer cr Firefighter ::ac d ze ition3.
The years or fractional parts of a year that a Firefighter Member serves in the military
service of the Armed Forces of the United States. the United States Merchant Marine or the
United States Coast Guard. voluntarily or involuntarily, after separation from employment
as a Firefighter with the City to perform training or service. and reemployment on or after
December 12. 1994. shall be added to his or her years of Credited Service for all purposes.
including vesting. provided that: -
A. The Firefighter Member must return to his or her employment as a Firefighter
within one (1) year from the earlier of the date of his or her military discharge
or his or her release from service.
B. The Firefighter Member deposits into the Fund the same sum that the
Firefighter Member would have contributed if he or she had remained a
Firefighter during his or her absence. The Firefighter Member must deposit
all missed contributions within a period equal to three (3) times the period of
military service. but not more-than five (5) years or he or she will forfeit the
right to receive Credited Service for his or her military service pursuant to this
Section.
-2-
5;,, The maximum credit for military service Pursuant to this Section shall be five
(5) years.
D In order to aualifv for the purchase of Credited Service pursuant to this,
Section. the Firefighter Member must have been discharged or released from
service under honorable conditions.
E This Section is intended to meet or exceed the minimum reauirements of the
Uniformed Services Employment and Reemployment Rights Act (USERRA).
(P.L. 103-353). To the extent that this Section does not meet the minimum
standards of USERRA. as it may be amended from time to time. the minimum
standards shall apply.
In the event that a Member of this System has also accumulated credited service in
another pension system maintained by the City, then such other credited service shall be used
in determining vesting as provided for in Section 9, and for determining eligibility for early
or normal retirement. Such other credited service will not be considered in determining
benefits under this System. Only his or her Credited Service and Salary under this System
on or after his or her date of membership in this System will be considered for benefit
calculation. In addition, any benefit calculation for a Member of this System who is or
becomes eligible for a benefit from this System after he or she has become a member of
another pension system maintained by the City, shall be based upon the Member's Average
Final Compensation, Credited Service and benefit accrual rate as of the date the Member
ceases to be a Police Officer or Firefighter.
Effective Date means the date on which this ordinance becomes effective..
Firefighter means an actively employed full-time person employed by the City,
including his or her initial probationary employment period, who is certified as a Firefighter
as a condition of employment in accordance with the provisions of§633.35, Florida Statutes,
and whose duty it is to extinguish fires, to protect life and to protect property.
Fund means the trust fund established herein as part of the System.
Member means an actively employed Police Officer or Firefighter who fulfills the
prescribed partieipatieft membership requirements. Benefit improvements which. in the past.
have been provided for by amendments to the System adopted by City ordinance. and any
benefit improvements which might be made in the future shall apply prospectively and shall
not apply to Members who terminate employment or who retire prior to the effective date
of any ordinance adopting such benefit imp rovements. unless such ordinance specifically
provides to the contrary.
Plan Year means the twelve (12) month period beginning October 1 and ending
September 30 of the following year.
Police Officer means an actively employed full-time person, employed by the City,
including his or her initial probationary employment period, who is certified as a Police
Officer as a condition of employment m accordance with the provisions of §943.1-41395,
Florida Statutes, who is vested with authority to bear arms and make arrests, and whose
primary responsibility is the prevention and detection of crime or the enforcement of the
penal, traffic, or highway laws of the State of Florida.
-3-
Retiree means a Member who has entered Retirement Status.
Retirement means a Member's separation from City employment with eligibility for
immediate receipt of benefits under the System.
Salary means the total monthly compensation for services rendered to the City as a
Police Officer or Firefighter reported on the Police Officer's or Firefighter's Member's W-2
form plus all tax deferred or tax sheltered items of income derived from elective employee
payroll deductions or salary reductions. Compensation in excess of the limitations set forth
in Section 401(a)(171 of the Code shall be disregarded. The limitation on compensation for
an "eligible employee" shall not be less than the amount which was allowed to be taken into
account hereunder as in effect on July 1. 1993. "Eligible employee" is an individual who
was a Member before the first Plan Year beginning after December 31. 1995.
Spouse means the lawful wife or husband of a Member at h o ti .,, ent
or Retiree at the time benefits become payable.
System means the City of Ocoee Municipal Police Officers' and Firefighters'
Retirement Trust Fund as contained herein and all amendments thereto.
Masculine Gender.
The masculine gendrr, l oro used herein, unless the context specifically
asculine genders.
SECTION 2. MEMBERSHIP.
1. Conditions of Eligibility.
All Police Officers and Firefighters as of the effective date October 1,
1991, and all future new Police Officers and Firefighters, shall. become Members of this
System as a condition of employment.
D. All future new Police Officers and Firefighters shall be required to
eemplete-a ....a: .i ex. ed by .1.
...V Y1VKi VAK1.Y1.K 4V VY 1./1 the City: Based upon
medical ,._.:a,._..,. a pro o_ ,
V IlY V..VV of VNJ
from the prescribed :,..ar::.atic: or other records or medical history,
the 2oar Y may dcclarc az, Member ineligible for disability benefits
L VK1
ceder, a. re
shall be reflected in the minutes of the. .:.ce`
: or established by the Board.
2. Membership.
Each Police Officer or Firefighter shall complete a form prescribed by the
Board providing for the A. D designation of a Beneficiary or
Beneficiaries_ ranch
B A state. nt t.wed:
B. . o prior u.VYaeaa and-psyehelegieal-liistery7and
-4-
to obtain, discuss and distribute all medical records to the Board, the
Clange in Dcsignatio of Benefciary
'a ,.rittent
- "-azd. Upon such change, the right
s ts of all
yv�.0
SECTION 3. BOARD OF TRUSTEES.
1. The sole and exclusive administration of.and responsibility. for the proper
operation of the retitement System and for making effective the provisions of this ordinance
are hereby vested in a Board of Trustees. The Board of Trustees is hereby designated as the
plan administrator. The Board shall consisting of five (5) Trustees, two of whom, unless
otherwise prohibited by law, shall be legal residents of themunicipalityCity, who shall be
appointed by the Ocoee City Commission, and two of whom shall be
er-Fifefighter Members of the System, who shall be elected by a majority of the Police
Officers and Firefighters who are Members of the System. The fifth Trustee shall be chosen
by a majority of the previous four Trustees as provided for herein,
and such person's name shall be submitted to the Ocoee City Commission. Upon receipt of
the fifth person's name, the Ocoee City Commission shall, as a ministerial duty, appoint such
person to the Board of Trustees as its fifth Trustee. The fifth Trustee shall have the same
rights as each of the other four Trustees appointed or elected as herein provided and shall
serve a two (2) year term unless the office is he or she sooner
self-in vacates the office. Each resident Trustee shall serve as Trustee for a period of two
(2) years, unless he or she sooner vacates the office or is sooner replaced by the Ocoee City
Commission at whose pleasure :h, T-:stee he or she shall serve,—a.: ::ay el€
aJ w Traatcc. Each Police Officer or Firefighter Member Trustee shall serve as Trustee for
a period of two (2) years, unless he or she sooner leaves the employment of the City as a
Police Officer or Firefighter or otherwise vacates his or her office as Trustee, whereupon
a successor shall be chosen in the same manner as the departing Trustee. Each Peliee
Officer or Firefighter Trustee may succeed himself in office. The Board shall establish and
administer the nominating and election procedures for each election. The Board of Trustees
shall meet at least quarterly each year. Efteh The Board of Trustees shall be a legal entity
with, in addition to other powers and responsibilities contained herein, the power to bring
and defend lawsuits of every kind, nature, and description.
2. The Trustees shall, by a majority vote, elect a Chairman and a Secretary. The
Secretary of the Board shall keep a complete minute book of the actions, proceedings, or
hearings of the Board. The Trustees shall not receive any compensation as such, but may
receive expenses and per diem as provided by law.
3. Each Trustee shall be entitled to one vote on the Board. Three (3) affirmative
votes shall be necessary for any decision by the Trustees at any meeting of the Board. A
Trustee shall have the right to recuse himself from voting as the result of a conflict of
interest provided that Trustee states in writing the nature of the conflict.
4. The Board of Trustees shall engage such actuarial, accounting, legal, and other
services as shall be required to transact the business of the Retirement System. The
compensation of all persons engaged by the Board of Trustees and all other expenses of the
-5-
Board necessary for the operation of the Retirement System shall be paid from the Fund at
such rates and m such amounts as the Board of Tru3tcc3 shall agree.
5. The duties and responsibilities of the Board of Trustcca shall include, but not
necessarily be limited to, the following:
A. To construe the provisions of the System and determine all questions
arising thereunder.
B. To determine all questions relating to eligibility andn
membership.
C. To determine and certify the amount of all-retirement allowances or
other benefits hereunder.
D. To establish uniform rules and procedures to be followed for adminis-
trative purposes, benefit applications and all matters required to
administer the System.
E. To distribute to Members, at regular intervals, information concerning
the System. . .
F. To receive and process all applications for p^ cip:tier-and benefits..
G. To authorize all payments whatsoever from the Fund, and to notify the
disbursing agent, in writing, of approved benefit payments and other
expenditures arising through operation of the System and Fund.
H. To have performed actuarial studies and at-le=biz: valuations, at
least as often as required by law, and make recommendations regarding
any and all changes in the provisions of the System.
I. To perform such other duties as are speeifed ::.
reauired to prudently administer the System.
SECTION 4. FINANCES AND FUND MANAGEMENT.
Establishment and Operation of Fund.
1. As part of the System, there is-kcr:by cctablished exists the Fund, into which
shall be deposited all of the contributions and assets whatsoever attributable to the System,
including the assets of any prior Municipal.Police Officers' and Firefighters' Retirement
Trust Fund.
2. The actual custody and supervision of the Fund (and assets thereof) shall be
vested in the Board of Tru3tccs. Payment of benefits and-disbursements from the Fund shall
be made by the disbursing agent but only upon written authorization from the Board.
3. All funds and sccuritics of the Municipal Police Officers' and Firefighters'
Retirement Trust Fund may be deposited by the Board of Trustccs with the Finance Director
of the rramicipality City, acting in a ministerial capacity only, who shall be liable in the same
manner and to.the same extent as he or she.is liable for the safekeeping of funds for the
-6-
•
municipality City. However, any funds and so deposited with the Finance Director
of the thuni p City shall be kept in a separate fund by the Finance Director or clearly
identified as such funds and-seetnities of the Municipal Police Officers' and Firefighters'
Retirement Trust Fund. In lieu thereof, the Board of Trustees shall deposit the funds and
sashes of the Municipal Police Officers' and Firefighters' Retirement Trust Fund in a
qualified public depository as defined in §280.02, Florida Statutes, which depository with
regard to such funds and-securities shall conform to and be bound by all of the provisions
of Chapter 280, Florida Statutes. In order to fulfill its investment responsibilities as set forth
herein, the Board may retain the services of a custodian bank, an investment advisor
registered under Investment Advisors Act of 1940 or otherwise exempt from such required
registration, an insurance company, or a combination of these, for the purposes of investment
decisions and management. Such investment manager shall have discretion, subject to any
guidelines as prescnbed by the Board, in the investment of all Fund assets.
4. All funds and securities of the System may be commingled in the Fund,
provided that accurate records are maintained at all times reflecting the financial composition
of the Fund, including accurate current accounts and entries as regards the following:
A. Current amounts of Accumulated Contributions of Members on both an
individual and aggregate account basis, and
B. Receipts and disbursements, and.. .
C. Benefit payments, and
D. Current amounts clearly reflecting all monies, funds and assets
whatsoever attributable to contributions and deposits from the City, and
E. All interest, dividends and gains (or losses) whatsoever, and
F. Such other entries as may be properly required so as to reflect a clear
and complete financial report of the Fund.
5. An independent audit shall be performed annually by a certified public
accountant for the most recent fiscal year of the City showing a detailed listing of assets and
a statement of all income and disbursements during the year. Such income and disburse-
ments must be reconciled with the assets at the beginning and end of the year. Such report
shall reflect a complete evaluation of assets on both a cost and market basis, as well as other
items normally included in a certified audit.
6. The Board of Trustcca shall have the following investment powers and
authority:
A. The Board of Trustees shall be vested with full legal title to said Fund,
subject, however, and in any event to the authonty and power of the
Ocoee City Commission to amend or terminate this Trust Fund,
provided that no amendment or Fund termination shall ever result in
the use of any assets of this Fund except for the payment of regular
expenses and benefits under this System. except as otherwise provided
herein. All contributions from time to time paid into the Fund, and the
income thereof, without distinction between principal and income, shall
be held and administered by the Board or its agent in the Fund and the
-7-
Board shall not be required to segregate or invest separately any
portion of the Fund.
B. All monies paid into or held in the Pensieft Fund shall be invested and
reinvested by the Board and the investment of all or any part of such
funds shall be limited to:
(1) Annuity and life insurance contracts ef with life insurance
companies in amounts sufficient to provide, in whole or in part,
the benefits to which all of the partieipanta Members in the
Fund shall be entitled under the provisions of this Plan System
and pay.the initial and subsequent premium thereon.
(2) Time or savings accounts of a national bank, a state bank or a
savings/building and loan association insured by the Federal
Deposit Insurance Corporation:
(3) Obligations of the United States or obligations guaranteed as to
principal and interest by the government of the United States.
(4) Bonds issued by the State of Israel.
(5) s:cc:-� can -f jnd� ..a_.:_:
J, W, V LY..�LVY lY..LLU YY.l L.4
_'--- �d or guaranteed
VLL..V UJ 1JJYV
i.LL Yn..LLdi.
b ^VV1 , •
•
• any-stato cr organized to..--ritory of the United States, or the
ash
be and holds ratiag iia cagy of•
1.:..L.,. ice_
the three .ig..., fins a,j as . ,
if such ir.vestments aa:c z a
a state or national bank, then the rating of each issue in-the -
i
✓2) auaa.ib
a ::ajar rating service.
Stocks, commingled funds administered by national or state
banks. mutual funds and bonds or other evidences of indebted-
ness. All individually held eauity and debt securities and all
eauitv and debt securities in a commingled or mutual fund must
be issued or guaranteed by a corporation organized under the
laws of the United States. any state or organized territory of the
United States, or the District of Columbia. and each eau-ity and
debt security must be traded on a nationally recognized ex-
change. All debt securities shall hold a rating in one of the
three highest classifications by a maior rating service. and if
such investments are made in -a pooled fund administered by a
state or national bank or mutual-fund. then the rating of each
issue in the pooled fund shall hold a rating within the top three
(3) rating classifications of a maior rating service. No foreign
investments shall be permitted whether owned individually or in
a commingled or mutual fund.
•
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C. The Board of Trusteca shall not invest more than five percent (5%) of
its assets in the common stocks er capital stock. or convertible
securities of any one issuing company, nor shall the aggregate
investment in any one issuing company exceed five percent (5%) of the
outstanding capital stock of that company; nor shall the aggregate of its
investments in common stock, capital stock and convertible bends
securities at cost exceed fifty percent (50%) of the assets of the Fund.
D. The Board of Truatccs may retain in cash and keep unproductive of
income such amount of the Fund as it may deem advisable, having
regard for the cash requirements of the System.
E. No person or entity
aa.i L- v v
negligef
_ice,.v. .
F E. The Board may cause any investment in securities held by it to be
registered in or transferred into its name as Trustee or into the name of
such nominee as it may direct, or it may retain them unregistered and
in form permitting transferability, but the books and records shall at all
times show that all investments are part of the Trust Fund.
€ F. The Board is empowered, but is not required, to vote upon any stocks,
bonds, or securities of any corporation, association, or trust and to give
general or specific proxies or powers of attorney with or without power
of substitution; to participate in mergers, reorganizations, recapitaliza-
tions, consolidations, and similar transactions with respect to such
•securities; to deposit such stock.or other securities in any voting trust
or any protective or like committee with the Trustees or with deposito-
ries designated thereby; to amortize or fail to amortize any part or all
of the premium or discount resulting from the acquisition or disposition
of assets; and generally to exercise any of the powers of an owner with
respect to stocks, bonds, or other investments comprising the Fund
which it may deem to be to the best interest of the Fund to exercise.
H G. The Board shall not be required to make any inventory or appraisal or
report to any court, nor to secure any order of court for the exercise of
any power contained herein.
I H. Where any action which the Board is required to take or any duty or
function which it is required to perform either under the terms herein
or under the general law applicable to it as Trustee under this ordi-
nance, can reasonably be taken or performed only after receipt by it
from a Member, the City, or any other entity, of specific information,
certification, direction or instructions, the Board shall be free of
liability in failing to take such action or perform such duty or function
until such information, certification, direction or instruction has been
received by it.
I. Any overpayments or underpayments from the Fund to a Members
Retiree or Beneficiary caused by errors of computation shall be
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adjusted with interest at a rate per annum approved by the Board in
such a manner that the Actuarial Equivalent of the benefit to which the
Member. Retiree or Beneficiary was correctly entitled to. shall be paid.
Overpayments shall be charged against payments next succeeding the
correction or collected in another manner if prudent. Underpayments
shall be made up from the Trust Fund in a prudent manner.
K I. The Board shall sustain no liability whatsoever for the sufficiency of
the Fund to meet the payments and benefits herein provided for.
K. In any application to or proceeding or action in the courts, only the
Board shall be a necessary party, and no Member or other person
having an interest in the Fund shall be entitled to any notice or service
of process. Any judgment entered in such a proceeding or action shall
be conclusive upon all persons.
M L. Any of the foregoing powers and functions reposed in the Board may
be performed or carved out by the Board through duly authorized
agents, provided that the Board at all times maintains continuous
supervision over the acts of any such agent; provided further, that legal
title to said Fund shall always remain in the Board of Truatcca.
SECTION 5. CONTRIBUTIONS.
1. Member Contributions.
A. Amount. Each Members of the Retirement System shall be required
to make regular contributions to the Fund in the amount of five percent
(5%) of his or her Salary. Member contributions withheld by the City
on behalf of the Member shall be deposited with the Board of Trustees
at least monthly. The contributions made by each Member to the Fund
shall be designated as employer contributions pursuant to §414(h) of the •
. Internal-Revenue Code of 1986. Such designation is contingent upon
the contributions being excluded from the Members' gross income for
Federal Income Tax purposes.. For all other purposes of the Plan
System, such contributions shall be considered to be Member contribu-
tions.
B. Method. Such contributions shall be made by payroll deduction.
2. State Contributions.
Any monies received or receivable by reason of laws of the State of Florida,
for the express purpose of funding and paying for retirement benefits for Police Officers and
Firefighters of the City shall be deposited in the Trust Fund comprising part of this System
immediately and under no circumstances more than five (5) days after receipt by the City.
3. City Contributions. •
So long as this System is in effect, the City shall make quarterly contributions
to the Trust Fund in an amount equal to the difference in each year, between the total
aggregate Member contributions for the year, plus state contributions for such year, and the
-10- .
total cost for the year, as shown by the most recent actuarial valuation of the System. The
total cost for any year shall be defined as the total normal cost plus the additional amount
sufficient to amortize the unfunded past service liability. over a fear (40) thirty (301 year
period, commencing with the fiscal year in which the effective date of this System occurs.
4. Other.
Private donations, gifts and contributions may be deposited to the Fund, but
such deposits must be accounted for separately and kept on a segregated bookkeeping basis.
Funds arising from these sources may be used only for additional benefits for Members, as
determined by the Board, and may not be used to-reduce what would have otherwise been
required City contributions..
SECTION 6. BENEFIT.AMOUNTS AND ELIGIBILITY.
1. Normal Retirement Date.
A Member's normal retirement date shall be the first day of the month
coincident with, or the next following the earlier of the attainment of age fifty-two (52) and
the completion of twenty-five (25) years of Credited Service, or age fifty-five (55) and the
completion of ten (10) years of Credited Service. A Member may retire on his or her
normal retirement date or on the first day of any month thereafter, and each Member shall. _.
become. 100% vested in his or her accrued benefit on the Member's normal retirement date:.
Normal retirement under the Plan System is.Retirement from employment with the City on..
or after the normal retirement date. . .
2. Normal Retirement Benefit.
A Member retiring hereunder on or after his or her normal retirement date
shall receive a monthly benefit which shall commence on the first dal/ of the month next , ..
following his or her Retirement Date and be continued thereafter during Member's lifetime,
ceasing upon death, but with one hundred twenty (120) monthly payments guaranteed in any
event. The monthly retirement benefit shall equal two and one-half percent (2.50%) of
Average Final Compensation, for each year of Credited Service.
3. Early Retirement Date.
A Member may retire on his or her early retirement date which shall be the
first day of any month coincident with or next following the later of the attainment of age
forty-five (45) and the completion of five (5) years of Credited Service. :Early retirement
under the Plan System is Retirement from employment with the City on or after the early
retirement date and prior to the normal retirement date.
4. Early Retirement Benefit.
•
A Member retiring hereunder on his or her early retirement date may receive
either a deferred or an immediate monthly retirement benefit payable for life as follows:
A. A deferred monthly retirement benefit which shall commence on what
would have been his or her normal retirement date had he or she
remained a Police Officer or Firefighter and shall be continued on the
first day of each month thereafter. The amount of each such deferred
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•
monthly retirement benefit shall be determined in the same manner as
for retirement as his or her normal retirement date except that
Credited Service and Average Final compensation shall be determined
as of his or her early retirement date; or
B. An immediate monthly retirement benefit which shall commence on his
or her early retirement date and- shall be continued on the first day of
each month thereafter. The benefit payable shall be as determined in
paragraph A above, which is actuarially reduced from the amount to
which he or she would have been entitled had he or she retired on his
or her normal retirement date and with the same number of years of
Credited Service as at the time his or her benefits commence and based
on his or her Average Final Compensation at that.date..
Iretiz eenti W es.
A A
... er ::�1:1' x. c at least twenty three (23) years of Credited Service on or
before September 30, 1994 shall be deemed "Eligible Members" and
E. r.L: c i►.fe .. .
1-.elb V..,ivAu
N:.-,=;a1 Retirement Benefit to be cer it. a:, Let. '
above,e, pry: a ,e,..' .. . ,.., IA zz..,..r) 1.,, >
6� c m) - f Average Final Con-Apc_�atien„
SECTION 7. PRE-RETIREMENT DEATH.
1. Prior to Vesting or Eligibility for Retirement.-
The Beneficiary of a deceased Member who was not receiving monthly benefits
payments, or who was not yet vested or eligible for early or normal retirement shall receive
a refund of one hundred percent (100%) of the Member's Accumulated Contributions.
2. Deceased Police Officers or Firefighters Vested or Eligible for Retirement.
lily Glc1i,V1♦ cm 1 'b'
early retirement as of his date of death, the benefit pa7ab
- .::kieti-wveuld have se:
normal or early retirement.
2. Deceased Members Vested or Eligible for Retirement.
The Beneficiary of any Member who dies and who. at the date of his or her
death was vested or eligible for early or normal retirement. shall be entitled to a benefit as
follows:
A. If the Member was vested, but not eligible for normal or early
retirement, the Beneficiary shall receive a benefit payable for ten years.
beginning on the date that the deceased Member would have been
eligible for early or normal retirement. at the option of the Beneficiary.
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The benefit shall be calculated as for normal retirement based on the
deceased Member's Credited Service and Average Final Compensation
as of the date of his or her death and reduced as for early retirement.
if applicable. The Beneficiary may also elect to'receive an immediate
benefit. payable for ten years. which is actuarially reduced to reflect
the commencement of benefits prior to the early retirement date.
B If the deceased Member was eligible for normal or early retirement. the
Beneficiary shall receive a benefit payable for ten vears. beginning on
the first day of the month following the Member's death or at the
deceased Member's otherwise normal retirement date. at the option of
the Beneficiary. The benefit shall be calculated as for normal
retirement based on the deceased Member's Credited Service and
Average Final Compensation as of the date of his or her death and
reduced as for early retirement. if applicable.
•
A Beneficiary may not elect an optional form of benefit. however. the
Board may elect to. make a lump sum payment pursuant to Section 10.
subsection 7.
D A Beneficiary may. in lieu of any benefit provided for in A or B above.
elect to receive a refund of the deceased Member's Accumulated
Contributions. -
SECTION 8. DISABILITY.
1. Disability Benefits Sir- In-Line of Duty.
Any Member who shall become totally and permanently disabled to the extent
that he or she is unable, by reason of a medically determinable physical or mental impair-
ment, to render useful and efficient service as a Police Officer or Firefighter, which
disability was directly caused by the performance of his or her duty as a Police Officer or
Firefighter, shall, upon establishing the same to the satisfaction of the Board, be entitled to
a monthly pension equal to two and one-half percent (2.5%) of his or her Average Final
Compensation multiplied by the total years of Credited Service, but in any event the
minimum amount paid to the Member shall be forty-two percent (42%) of the Average Final
Compensation of the Member. Terminated persons. either vested or non-vested. are not
eligible for disability benefits.
2 In-Line of Duty Presumptions.
A. Presumption. Any condition or impairment of health of a Member
caused by tuberculosis, hypertension or heart disease shall be presumed
to have been suffered in line of duty unless the contrary is shown by
competent evidence, provided that such Member shall have successfully
passed a physical examination upon entering into such service,
including cardiogram, which examination failed to reveal any evidence
of such condition; and provided further, that such presumption shall not
apply to benefits payable or granted in a policy of life insurance or dis-
ability insurance.
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B Additional Presumption. The nresumntion provided for in this subpar.
graph B. shall apply only to those conditions described in this subpara-
graph B. that are diagnosed on or after January 1. 1996.
al Definitions. As used in this subsection 2.B., the following
definitions apply:
Laj. "Body fluids" means blood and body fluids containing
visible blood and other body fluids to which universal
precautions for prevention of occupational transmission
of blood-borne pathogens. as established by the Centers
for Disease Control, apply. For purposes of Potential
transmission of meningococcal meningitis or tuberculosis.
the term "body fluids" includes respiratory. salivary, and
sinus fluids. including droplets. sputum. .and saliva.
mucous, and other fluids through which infectious
airborne organisms can be transmitted between persons.
�b "Emergency rescue or public safety Member" means any
Member employed full time by the City as a firefighter.
paramedic. emergency medical technician. law enforce-
ment officer, or correctional officer who. in the course
of employment, runs a high risk of occupational exposure ,
to hepatitis. meningococcal meningitis. or tuberculosis
and who is not employed elsewhere in a similar capacity.
However, the term "emergency rescue or public safety
Member" does not include any person employed by a
public hospital licensed under Chapter 395. Florida
Statutes, or any person employed by a subsidiary thereof.
"Hepatitis" means hepatitis A. hepatitis B. hepatitis non-
A. hepatitis non-B. hepatitis C. or any other strain of
hepatitis generally recognized by the medical community.
"High risk of occupational exposure" means that risk that
is incurred because a person subiect to the provisions of
this subsection, in performing the basic duties associated
with his or her employment:
i. Provides emergency medical treatment in a non-
health-care setting where there is a potential for
transfer of body fluids between persons:
ii. At the site'of an accident. fire, or other rescue or
public safety operation. or in an emergency
rescue or public safety vehicle. handles body
fluids in or out of containers or works with or
otherwise handles- needles or other sharp instru-
ments exposed to body fluids:
iii. Engages in the pursuit, apprehension, and arrest
of law violators or suspected law violators and, in
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1
performing such duties. may be exposed to body
fluids: or
iv• Is responsible for the custody, and physical
restraint when necessary. of prisoners or inmates
within a prison, jail: or other criminal detention
facility. while on work detail outside the facility.
or while being transported and. in Performing
such duties. may be exposed to body fluids.
fee, "Occupational exposure." in the case of hepatitis.,
meninaococcal meningitis. or tuberculosis. means an
exposure that occurs during the performance of job
duties that may place a worker at risk of infection.
Presumption. Any emergency rescue or public safety Member
who suffers a condition or impairment of health that is caused
by hepatitis. meningococcal meningitis. or tuberculosis. that
reauires medical treatment. and that results in total or partial
disability or death shall be presumed to have a disability
suffered in the line of duty. unless the contrary is shown by
competent evidence: however. in order to be entitled to the
presumption. the Member must. by written affidavit as provided
in Section 92.50. Florida Statutes. verify by written declaration
that. to the best of his or her knowledge and belief:
La). In the case of a medical condition caused by or derived
from hepatitis. he.has not:
Been exposed. through transfer of bodily fluids..
to any person known to have sickness or medical
conditions derived from hepatitis. outside the
scope of his employment:
ii. Had a transfusion of blood or blood components.
other than a transfusion arising out of an accident
or injury happening in connection with his present
employment. or received any blood products for
the treatment of a coagulation disorder since last
undergoing medical tests for hepatitis. which tests
failed to indicate the presence of hepatitis:
iii. Engaged in unsafe sexual practices or other high-
risk behavior, as identified by the Centers for
Disease Control or the Surgeon General of the
United States or had sexual relations with a
person known to him to have engaged in such
unsafe sexual practices • or other high-risk
behavior: or
iv. Used intravenous drugs not prescribed by a physician.
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0_1 In the case of meningococcal meningitis. in the 10 days
immediately preceding diagnosis he or she was not
exposed. outside the scone of his or her employment. to
any person known to have meningococcal meningitis or
known to be an asymptomatic carrier of the disease.
•
• In the case of tuberculosis. in the period of time since
the Member's last negative tuberculosis skin test. he or
she has not been exposed. outside the scope of his or her
employment. to any person known by him or her to have
tuberculosis.
L Immunization. Whenever any standard. medically recognized
vaccine or other form of immunization or prophylaxis exists for
the prevention of a communicable disease for which a presump-
tion is granted under this section. if medically indicated in the
given circumstances pursuant to immunization policies estab-
lished by the Advisory Committee on Immunization Practices of
the U.S. Public Health Service. an emergency rescue or public
safety Member may be required by the City to undergo the
immunization or proohvlaxis unless the Member's physician
_ .. determines in writing that the immunization or other prop_hvlaxis
would pose a significant risk to the Member's health. Absent
such written declaration, failure or refusal by an emergency
rescue or public safety Member to undergo such immunization
or prophylaxis disaualifies the Member from the benefits of the
L11. . Record of Exposures„ The City shall maintain a record of any
known or reasonably suspected exposure of an emergency
rescue or public safety Member in its employ to the disease
described in this section and shall immediately notify the
- Member of such exposure. An emergency rescue or public
safety Member shall file an incident or accident report with the
City of each instance of known or suspected occupational
exposure to hepatitis infection. meningococcal meningitis. or
tuberculosis.
Required medical tests: preemployment physical. In order to be
entitled to the presumption provided by this section:
kal An emergency rescue or public safety Member must.
prior to diagnosis. have undergone standard. medically
acceptable tests for evidence of the communicable disease
for which the presumption is sought. or evidence of
medical conditions derived therefrom. which tests fail to
indicate the presence of infection, or. in the case of
• hepatitis infection. This paragraph does not apply in the
case of meningococcal meningitis.
•
�b On or after June 15. 1995. an emergency rescue or
• public safety Member may be required to undergo a
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preemployment physical examination that tests for and
fails to reveal any evidence of hepaptis or tuberculosis.
2 ,. Disability Benefits off- Not-In-Line of Duty.
Any Member with ten (10) years or more Credited Service who shall have
become totally and permanently disabled to the extent that he or she is unable, by reason of
a medically determinable physical or mental impairment, to render useful and efficient
service as a Police Officer or Firefighter, which disability is not directly caused by the per-
formance of his or her duties as a Police Officer or Firefighter shall, upon establishing the
same to the satisfaction of the Board, be entitled to a monthly pension equal to two and one-
half percent (2.5%) of his or her Average Final Compensation multiplied by the total years.
of Credited Service, but in:any.event the minimum amount paid to .the Member shall be
twenty-five percent (25%) of the Average Final Compensation of the Member. Terminated
persons. either vested or non-vested. are not eligible•for disability benefits.
34. Conditions Disaualifvina Disability Benefits.
Each Member who is claiming disability benefits shall establish, to the
satisfaction of the Board, that such disability was flat occasioned primarily by:
A. Excessive or habitual use of any drugs and/or intoxicants, alcohol.
B. Injury or disease sustained while willfully and illegally participating in .:. . . ..
rights, riots and/or civil insurrections.
C. Injury or disease sustained,while committing a crime.
D. Injury or disease sustained while serving in any branch of the Armed.
Forces.
E. Injury or disease sustained after his or her employment as a Police
Officer or Firefighter with the City of Ocoee shall have terminated.
F. Willful, wanton or intentional misconduct or gross negligence of the
Member.
G. Injury or disease sustained by the Member while working for anyone
other than the.City and arising out of such employment.
H. A condition pre-existing the Police Officer's or Firefighter's member-
ship in the System. No Member shall be entitled to a disability
pension, whether in line of duty or not in line of duty, because of or
due to the aggravation of a specific injury, impairment or other medical
condition pre-existing at the time of membership in the System,
provided that such pre-existing condition and its relationship to a later
injury, impairment or other medical condition be established by
competent substantial evidence. Nothing herein shall be construed to
preclude a disability pension to a Member who, after membership in
the System, suffers an injury, impairment or other medical condition
different from some other injury, impairment, or other medical
condition existing at or prior to said membership.
-17-
45. Physical Examination Reauirement.
A Member shall not become eligible for disability benefits until and unless he
or she, undergoes a physical examination by a qualified physician or physicians and/or
surgeon or surgeons, who shall be selected by the Board for that purpose. The Board shall
not select the Member's treating physician or surgeon for this purpose except in an unusual
case where the Board determines that it would be reasonable and prudent to do so.
Any Police Officer ;,r Firefighter Retiree receiving disability benefits under
provisions of this ordinance may be periodically re-examined by a qualified physician or
physicians and/or surgeon or surgeons who shall be selected by the Board, to determine if
such disability has ceased to exist. If the Board finds that the Retiree is no longer
permanently and totally-disabled to the extent that he or she, is unable to render useful 'and
efficient service as a Police Officer or Firefighter, the Board shall recommend to the City
that the Retiree be returned to performance of duty as a Police Officer or Firefighter, and
the Retiree so returned shall enjoy the same rights that Member he or she had at the time he
or she was placed upon pension. In the event the Retiree so ordered to return shall refuse
to comply with the order within thirty (30) days from the issuance thereof, Member he or
she shall forfeit the right to his or her pension.
The cost of the physical examination and/or re-examination of the Member.
claiming or Retiree receiving disability benefits shall be borne by the Fund. All other -
reasonable costs as determined by the Board incident to the physical examination, 'such as,
but not limited to, transportation, meals, hotel accommodations, shall be borne by the Fund.
If the Police Officer or Firefighter recovers from disability and reenters the
service of the City as a Police Officer or Firefighter; his or her service will be deemed to
have been continuous, but the period beginning with the first month for which he or she
received a disability retirement income payment and ending with the date he or she reentered
the service of the City will not be considered as Credited Service for the purposes of the
System.
The Board shall have the power and authority.to make the final decisions
regarding all disability claims.
56. Disability Payments.
The monthly benefit to which a Member is entitled in the event of the
Member's disability retirement shall be payable on the first day of the first month after the
Board of Trustees determines such entitlement. However, the monthly retirement income
shall be payable as of the date the Board determined such entitlement, and any portion due
for a partial month shall be paid together with the first payment. The last payment will be:
A. If the Police Officer or Firefighter Retiree recovers from the disability
prior to his or her normal retirement date, the payment due next
preceding the date of such recovery, or
B. If the Police Officer or Firefighter Retiree dies without recovering from
disability or attains his or her normal retirement date while still
disabled, the payment due next preceding his or her death or the 120th
monthly payment, whichever is later.
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SECTION 9. VESTING.
If a Member terminates his or her employment with the Police or Fire Department,
either voluntarily or by discharge, and is not eligible for any other benefits under this
System, gi Member shall be entitled to the following:
1. If the Member has less than five (5) years Credited Service upon termination,
the Member shall be entitled to a refund of his or her Accumulated Contributions or the
Member may leave it deposited with the Fund.
2. If the Member has five (5) or more years of Credited Service upon termination,
the Member shall be entitled to a monthly retirement'benefit
ch _..ti_.._ent. inzai a otherw se . determined in the same manner as for -
normal or early retirement and based upon the Member's Credited Service. Average Final
Compensation and the benefit accrual rate as of the date of termination:payable to him gr
her commencing at Member's otherwise normal or early retirement date, provided he or she.
does not elect to withdraw his or her Accumulated Contributions and provided Member
survives to his or her otherwise normal or early retirement date. If the Member does not
withdraw his or her Accumulated Contributions and does not survive to his or her otherwise
normal or early retirement date. his or her designated Beneficiary shall be entitled to a
benefit as provided herein for 'a deceased Member. vested or eligible for retirement under
Pre-Retirement Death... .
3. Any Pelicc Office ch F refighter vested Member of the System whose position
is terminated, for whatever reason, but who remains employed by the City in some other
capacity, shall have all retirement benefits accrued up to the date of such termination under
this System preserved, provided he or she does not elect to withdraw his or her Accumulated
Contributions from this System. Such accrued retirement benefits shall be payable at his or
her otherwise early (reduced as for early retirement) or normal retirement date hereunder,
or.later, in accordance with the provisions of this System.
SECTION 10. OPTIONAL FORMS OF BENEFITS.
1. In lieu of the amount and form of retirement income payable in the event of
normal or early retirement as specified herein, a Police Officer or Firefighter Member, upon
written request to the Board of Trustees and submiszien ;,f;,v:
that such exidence will not be required if-stick request is ...lc at least three (3) years p icr
to the date of ce.--ne.c:,mcnt of retirement income or if such req.c t 1
may elect to receive a retirement income or benefit of equivalent actuarial
value payable in accordance with one of the following options:
A. A retirement income of a larger monthly amount, payable to the Police
Officer or Firefighter Member for his or her lifetime only.
B. A retirement income of a modified monthly amount, payable to the
Police Officer or Firefighter Member during the jeint lifetime of the
• Police Officer or Firefighter Member
designated by he Police Officer or Firefighter, and following the death
• of either of them the Member, 100%, 75% 66-2/3%, or 50% of such
monthly amounts payable to the survivor for the lifetime c f the su viver
a ioint pensioner for his or her lifetime. Except where the Retiree's
-19-
ioint pensioner is his or her Spouse. the present value of payments to.
the Retiree shall not be less than fifty percent (50%) of the total present
value of payments to the Retiree and his or her ioint pensioner.
C. Such other amount and form of retirement payments or benefits as, in
the opinion of the Board of Trustees, will best meet the circumstances
of the retiring Police Officer or Firefighter Member. A lump sum
benefit will be approved bv. the Board only in accordance with
subsection 7 of this Section 10.
2. The Police Officer or Firefighter Member, upon electing any option of this
Section, will designate the joint pensioner (subsection 1.B. above) or Beneficiary (or Benef.
ciaries) to receive the benefit, if any, payable under the Plan System in the event of
Member's death, and will have the power to change such designation from time to time;-
of Trustees. Such designation will name a joint.pensioner or one or more primary
Beneficiaries where applicable. If a Police Offcer or Firefighter Member has elected an
option with a joint pensioner or Beneficiary and Member's retirement income benefits have
commenced, Member may thereafter change his or her designated
Beneficiary at any time, but may only change his or her ioint pensioner if the designated
ioint pensioner and the Member were married at the time of Member's Retirement and are
divorced subseauent thereto and the ioint pensioner is alive at the time of the change. if-the
Board of Trustees consents to such :,::w.bc a if the joint pensioner last previously
s th
e e request for,such
3. The consent of a Police Officer or Firefighter's Member's or Retiree's joint
pensioner or Beneficiary to any such change shall not be required. The rights of all
previously-designated Beneficiaries to receive benefits under the System shall thereupon
cease.
4. The Board of Trustees may request such evidence of the good health of the
feint pc::uc:er that ie being -:eve:: it ma .:.q,:.r:, ;, t of the retirement
shall be actuarially redetermined taking into account the age and sex of the f rr acr jaint
pensioner, the new joint pensioner, w.d he Police Officer or Firefighter. Each such
b writing on a form prep::ce. b, the Board of Trustees and on
s 4V1i eernpl -` be-fried myth the Board of Trustees. In the event that no designated -,,e er-
r .1...
fuy survives the Police Officer e Fire e :,.e.t a
prided y. See an-1 Upon change of a Retiree's Beneficiary or ioint pensioner in
accordance with this Section. the Board shall adiust the Retiree's monthly benefit by
application of actuarial calculations to insure that the benefit paid is the Actuarial Eauivalent
of the Retiree's then-current benefit. Anv such Retiree shall pay the actuarial recalculation
expenses and shall make repayment of any overage of previously-paid pension benefits as a
result of said recalculations. Each reauest for a change will be made in writing on a form
prepared by the Board and on completion will be filed with the Board. In the event that no
designated Beneficiary survives the Retiree, such benefits as are payable in the event of the
death of the Retiree subsequent to his or her Retirement shall be Paid as provided in Section
-20-
5. Retirement income payments shall be made under the option elected in
accordance with the provisions of this Section and shall be subject to the following
limitations:
A. If a Police Officer or Firefighter Member dies prior to his or her
normal retirement date or early retirement date, whichever first occurs,
no retirement benefit will be payable under the option to any person,
but the benefits, if any, will be determined under Section 7.
B. If the designated Beneficiary (or Beneficiaries) or joint pensioner dies
before the Police Officer's or Firefighter's Member's.Retirement under
the Plan System, the option elected will be canceled automatically and
a retirement income of the normal form and amount will be payable to
the Pclic: Officer or Firefighter Member, upon his or her Retirement
as if the election had not been made, unless a new election is made in
accordance with the provisions of this Section or a new Beneficiary is
designated by the Police Officer or Firefighter Member prior to his
her Retirement anc.. .thin ninety (90) days after the dca h of the
beneficiary.
C. If both the retired Police Officer er Firefighter Retiree and the Bene-
ficiary (or Beneficiaries) designated by Member or Retiree die before
the full payment has been effected under any option providing for
payments for a period certain and life thereafter, made pursuant to the
provisions of subsection 1, the Board of Trustees may, in its discretion,
direct that the commuted value of the remaining payments be paid in
a lump sum and in accordance with Section 11.
D. If a Police Officer 3r. Firefighter Member continues beyond his or her
normal retirement date pursuant to the provisions of Section 6,
subsection 1, and dies prior to his or her actual retirement and while
an option made pursuant to the provisions of this Section is in effect,
monthly retirement income payments will be made, or a retirement
benefit will be paid, under the option to a Beneficiary (or Beneficiaries)
designated by the Police Officer or Firefighter Member in the amount
or amounts computed as if the Police Officer or Firefighter Member
had retired under the option on the date on which his or her death
occurred.
6. A Police Officer or Firefighter Retiree may not change his or her retirement
option after the date of cashing or depositing his or her first retirement check.
7. Notwithstanding anything herein to the contrary, the Board in its discretion,
may elect to make a lump sum payment to a Member or a Member's Beneficiary in the event
that the total commuted value of the remaining monthly income payments to be paid do not
exceed Three Thousand Five Hundred Dollars ($3,500.00). Any such payment made to any
person pursuant to the power and discretion confined upon the Board of Trustees by the
preceding sentence shall operate as a complete discharge of all obligations under the Plan
System with regard to such Member and shall not be subject to review by anyone, but shall
be- final, binding and conclusive on all persons.
-21-
SECTION 11. BENEFICIARIES,.
1. Each Police Officer or"Firefighter Member or Retiree may, on a form provided
for that purpose, signed and filed with the Board of Trustees, designate a Beneficiary (or
Beneficiaries) to receive the benefit, if any, which may be payable in the event of his or her
death.,_;-fie Each designation may be revoked by such Police Officer cr fixofighter
Member or Retiree by signing and filing with the Board of Trustees a new designation-of-
beneficiary form. Upon such change. the rights of all previously designated Beneficiaries
to receive any benefits under the System shall cease.
2. If a deceased Police Officer or Firefighter fails Member or Retiree failed to
name a Beneficiary in the manner prescribed in subsection 1, or if the Beneficiary (or
Beneficiaries).named by a deceased"Police Officer or Firefighter predeceases Member or. . "
Retiree predeceased the Police Officer or Firefighter Member or Retiree, the death benefit,
if any, which may be payable under the Mari System with respect to such deceased Police
Officer or Firefighter Member or Retiree may shall be paid to the estate of the Member or
Retiree. , in the discretion of the Board of Trustees, either to:
The wife or dependent children of the Police Officcr cr Firefighter;
E. The dui are ntz of the Police Officer or Firefighter; or
C. Estate of the Police Officer or Firefighter. •
SECTION 12. CLAIMS PROCEDURES .
1. If any Member of the System has cccr:
�. . Placed en;c..:ion under the terms all lllance fer
B
T)B. 1 T71 1
of years to entitle him to a;e sion er
C. Defused benefits under this Plan, and
e amount of pension the Member is receiving, er believes that he
be entitled to benefits under the Plan, the Member may,, in :,ai ng, rcctrect the �' .
r:,:•ic his ease. The Board sha„ _ , t e c r d enter , ch _de_ tLereet ,. it deems
•a Kys.,from receipt c JYV
lcal release allthorizatiVli and
c.providers for such reviewof disability claims; provided, that the
Board
� may
� extend the tme fcr entering such order b; all additional Lyforty five ('15) ay: i
it determines such W11V 1J 11V VVJJal Y for disc:V Vr in.l equaW
'7 T_ the-event ypy� a that 'ate _�.]_� L'.__,.,. the the _7_:r C_..
7r• fll ale event that/ ax Vf�.iVf rl Vlll ale Board der',: ale Vfall/l fez a change-ill
claim far benefits, the order of the Board shall be jm iii v.Wi g-
Such written order ch-all :-.elude: •
A. The specific reasons for the'denial, including specific references to per
tinent provisions of the-Retirement System e i which such denial is
based;
-22-
•
B. A description of any additicnal materialthe-Beard
;
Such r.,IiV
I) Prior to such r;, i; ,. the Member or his duly
rav iay. any pc
r tha1 ♦a e
deni of the calm -.vas Vllghially _V V ,
documents material to the case;
(2) After such1V; aII, tha 1
•
v..-a
request a hearing. "---
VYV
- LL:n: (90) da -3 after the receipt of the
the : :.• . . . .. .. .. . . . ...aaV Va, Ya
the Member. The Member and/or hi- ' '-- ,.a YYay� YY
ntati ay ♦then at c c1.c...u ed h g `a p .. e�nt¢
their .ea--JV Th n
l aLV
scheduled h;azg a -ha:a' _�aL._ thirty (30) days after such
hearing, make a final _-,:_ :_ ___ 1_ the-request-of-the
L f � e
lAaw. lYAF1 .in II 11LA a an Y1V�/ �I���/
Member. The vrittcn decisic: shall mclude the reasons for
saelt- ' V FALL..
•
(a) Tha Gh---r-a_ shall preside over the hearing and-shell
during _'_e-iteering7
(b) Either party, the claimant or the Board, may file plead
ings within the time 'a:a =`w set—ha: Prasedttral
motions arc to b;, determined by the Chairman of the
Eaar.d. tim;. a�lrll _._.: s arc to furnish
^ ^� yK1 YV YJ.- V�iVU Vl
all pleadings to he apposing parties and aexc Lange ELS
• called to testify at the hearing, as well as the list of
exhibits that arz, ir.ta.ded-ta a ;ntroduced, at least forty
five (45) Ya price t:, tha ;ring.
. Testimony-of-wit-
t a admix
• by all parties. TLc �Chairman, any Membe
Board, the attorney forBcar ,
ings. Each party shall hay::
relevant to the issues, to cross exs.:aua:, ::itncsses, to
impaach .imcsses and to respond to the evidence.
-23-
party may secure the services of a court reporter to
<c)- 4..
YiV L.V Y.l- V .L.. _1
to-drawV.♦ he V
•
.'.:.. v. ens .., ..:.,
c increased pension benefits.
11 -lists-under t�..L 4:.�-., 1 .� �1 L 7 _1..fl L, at.
✓• In-all El ndeY VYv1..Vvv`v..J a Vi 2 hel
the- ttend nce e f w ttn sses an t1... p c.7..
fee :::.; chzr znan not to exceed the fees set forth in
L. Claims of Affected Persons.
A The Board of Trustees shall grant an initial hearing upon receipt of a
written request ("Claim"). on matters which affect the substantial rights
of anv person ("Claimant"). including Members. Retirees. Beneficia-
ries. or anv person affected by a decision of the Board of Trustees. •
B. The Board shall review the Claim at an initial hearing and enter an
order within ninety (90) days from the date of receipt of the Claim and,
in the case of disability claims. receipt by the Board of a written
medical release authorization in a form approved by the General
Counsel and a completed set of interrogatories prepared by the General
Counsel and provided to the Claimant. The Board may extend the time
for entering the order at an initial hearing for an additional ninety (90)
days if it determines such time is necessary for full discovery and
adequate review. The General Counsel and the Claimant may stir_ulate
to further extensions of time.
C. It shall be the function of the General Counsel. throughout the claims
procedure. to assist the Board in the discovery and presentation of
evidence in order to assure that the Board receives all relevant
information prior to the Board's decision.
D. The Claimant shall have the right to be represented by counsel at any.
or all times throughout the claims procedure.
2. Initial Hearing.
A. At the initial hearing. the only evidence to be considered by the Board
shall be documentary evidence contained in the pension file. including
but not limited to. correspondence. medical records and reports of
treating physicians and/or examining physicians and evidence received
pursuant to paragraph B.
-24-
B Other than questions from the Trustees. there will be no taking of
additional evidence at the initial hearing. except that the Claimant will
be afforded fifteen (151 minutes to make a presentation. which shall be
limited to comments and/or arguments as to the evidence or information
already contained in the pension file. including the report of the
examining physician.
C Upon completion of the review of the Claim at the initial hearing. the
Board shall enter an order setting forth its findings and conclusions on
the Claim. The written order shall be provided to the Claimant. The
order shall include:
hi The specific findings and conclusions of the Board. including
specific references to pertinent provisions of the System on
which such conclusions are based:
al A description of any additional material or information that the
Board may deem necessary for the Claimant to perfect his or
her Claim. together with the reasons why such material or
information is necessary: and
fal An explanation of the right to a full hearing on the Claim and
the time limit in which a full hearing must be requested in
writing.
D. The decision of the Board at the initial hearing shall not be final until
after the time has expired to request a full hearing or. if a full hearing
is reauested. until the Board makes a decision at the conclusion of the
full hearing.
3. Full hearing.
•
A. Any Claimant may request a full hearing on the issues presented to the
Board at an initial hearing and upon which the Board has entered an
order as provided in subsection 2.C. above.
B. A full hearing must be requested by the Claimant within ninety (901
days of the receipt of the Board's order. The order will be deemed
received three (3)-days following the date it is mailed to Claimant at the
address provided to the Board by Claimant.
C. Upon receipt•of the request for a full hearing and considering the
amount of discovery which might be conducted. the Board shall
establish a date for the full hearing and cause notice to be given to the
Claimant. The full hearing shall be held within ninety (901 days from
the receipt of the request from the Claimant. The full hearing may be
postponed. if necessary and with the consent of the Claimant. to permit
full discovery of the facts.
D. Copies of all documents to be offered into evidence at the full hearing.,
including depositions. and a complete witness list with names and
addresses of witnesses expected to be called. shall be furnished to the
-25-
Board and the General Counsel by the Claimant at least twenty (20)
days prior to the full hearing. Documents not furnished to the Board
within the prescribed time limit may be excluded from evidence at the
full hearing if a reasonable explanation is not provided for the delay in
providing the documents.
E A Claimant or the General Counsel may obtain discovery by deposition
and/or interrogatories prior to the full hearing. Written notice of any
depositions and/or interrogatories shall be given to the General Counsel
and the Claimant.
F The costs of any discovery. except discovery requested by the Board,
or the General Counsel. the appearance of witnesses at the hearing. and _ ..
the malting of a verbatim record of the proceedings shall be the
responsibility of the Claimant.
a, The Claimant shall be responsible for the appearance of any witnesses
which he or she wishes to have testify at the hearing. The Board shall„
however. have the power to subpoena and require the attendance of
witnesses and the production of documents for discovery prior to and
at the proceedings provided for herein. The Claimant may reauest in
writing the issuance of subpoenas by the Board. A reasonable fee may
be charged for the issuance of any_ subpoenas not to exceed the fees set
forth in Florida Statutes.
H. Testimony at the full hearing may be submitted in the form of a
deposition. Depositions timely submitted will be part of the record
before the Board at the full hearing and will not be read in totality at
the full hearing: provided however. that this does not preclude the
Claimant or the General Counsel from reading parts of depositions in
an opening or-closing statement.
•
i. Irrelevant and unduly repetitious evidence shall be excluded.
J. Any person who knowingly gives false testimony is ' guilty of a
misdemeanor of the first degree. punishable as provided in Section
775.082 or 775.083. Florida Statutes.
K. The file maintained by the Board. including but not limited to various
medical reports therein. is part of the record before the Board at the
full hearing.
L. All proceedings of the Board shall be conducted in public.
M. In cases concerning an application for pension benefits. including
applications for disability retirement benefits. the burden of proof.
except as otherwise provided by law. shall be on the Claimant seeking
• to show entitlement to such benefits.
• N. In cases concerning termination of pension benefits including re-
examination of Retirees receiving disability retirement benefits. the
• burden of proof shall be on the Board.
-26-
D Except as to those records which are exempted from the provisions of-
Chapter 119. Florida Statutes. Florida's Public Record Law. records
maintained by the Board are open for inspection and/or copying during
normal business hours at a reasonable cost for the copying,
P Should a Claimant reauesting an initial or full hearing decide to anneal
any decision made by the Board. with respect to any matter considered
at such hearing. the Claimant requesting an initial or full hearing will
need a record of the proceedings and may need to assure that a
verbatim record of the Proceeding is made. The Claimant reauesting.
an initial or full hearing will be responsible for obtaining a court
reporter or otherwise making a record of the proceedings before the
Board. "
Q The decisions of the Board after the reauested full hearing shall be final
and binding.
R Within fifteen (151 days after making a decision at the full hearing. the
Board shall enter a final order setting forth its findings and conclusions
and a copy of the order shall be provided to the Claimant.
S. Judicial review of decisions of the Board shall be sought by the filing
of a timely petition for writ of certiorari with the Clerk of the Circuit •
Court. in the appropriate county.
4. Conduct of the Full Hearing.
A. The Chairman shall preside over the hearing and shall rule on all
evidentiary. procedural. and other legal auestions that arise during the
hearing. The Chairman's rulings shall stand unless overruled by a
majority of the Trustees present. The Chairman shall open the full
• hearing by explaining the procedures to be followed.
•
B. The Claimant shall have the right to be represented by counsel or be
self-represented. The General Counsel shall advise the Board.
C. The Claimant shall be allowed to make an opening statement not to
exceed ten (101 minutes.
D. Testimony of witnesses shall be under oath or affirmation. Depositions
and affidavits shall be admissible.
E. The Chairman. any Trustee. the General Counsel. the Claimant or the
Claimant's counsel. upon recognition by the Chairman. may direct
questions to any witness during the proceedings.
F. Either the Claimant or the General Counsel shall have the right to
Present evidence relevant to the issues. to cross examine witnesses. to
impeach witnesses and to respond to the evidence presented.
G. The Claimant shall be permitted a closing argument not to exceed
fifteen (151 minutes.
-27-
II The Board shall deliberate and make a decision following closing
argument and thereafter enter an order as provided herein.,
5. Disability Claims - Additional Procedures.
A. All applications for disability pensions shall be in writing. Forms for
such applications may be provided by the Board.
B Upon receipt of the application for disability. the General Counsel will
provide the Claimant with a set of interrogatories or auestions to be
answered under oath and a medical release authorization. Both
documents will be completed by the Claimant and returned to the
General Counsel.
C Upon receipt of the properly completed interrogatories and medical
release authorization. the General Counsel will request medical records
from all relevant treating physicians: personnel records from the
employer, copies of relevant workers' compensation records. and
copies of other records deemed to be relevant to the Claim. The Board
shall pay: from the Fund. the cost of any medical examinations
required by the Board and for copies of medical records.
D. The General Counsel will, if authorized by the Board. upon receipt of
the medical records from the treating physicians. schedule an indepen-
dent medical examination or examinations (IME) with an appropriate
independent examining physician or physicians who will be asked to
render an opinion about Claimant's physical condition as it relates to
the claimed disability.
E Upon receipt of the IME report or reports .from the examining
physician or physicians. the General Counsel will provide all records
of treating physicians. relevant workman's compensation claims
records. the independent medical evaluation, and all other relevant
documents to the Board for inclusion in the pension file and the Board
shall then schedule the initial hearing.
SECTION 13. REPORTS TO DIVISION
OF RETIREMENT.
Each year and no later than March 15th, the Chairman of the Board shall file a report
with the Division of Retirement containing the following:
1. Whether in fact the Munieipality City is in compliance with the provisions of
Chapters 175 and 185, Florida Statutes.
2. A certified statement of accounting for the most recent fiscal year of the
:Municipality City (or an independent audit by a certified public accountant if required by the
D T�J ML w1�rV- ut Division of Retirement) showing a detailed listing of assets and
ia
methods used to value them and a statement of all income and disbursements during the year.
Such income and disbursements shall be reconciled with the assets at the beginning and end
of the year.
• -28-
3. A statistical exhibit showing the number of Police Officers and.Firefighters on
the force of the Municipality City, the number included in the Pension Plan, the number of
Police Officers and Firefighters ineligible, classified according to the reasons for their being
ineligible, and the number of disabled-and retired Police Officers and Firefighters Retirees
and their beneficiaries receiving pension payments and the amounts of annual retirement
income or pension payments being received by them.
4. A statement of the amount the Munieipali .City has contributed to the Pension
Fund for the preceding plan year, and the amount the Munieipelity City will contribute to
the Pension Fund for the current plan year.
5. If any benefits are insured with a commercial insurance company, the report
shall include a statement of the relationship of the insured benefits to the benefits provided
by this Ordinance. This report shall also contain information about the insurer, basis of
premium rates, mortality table, interest rates and method used in valuating valuing retirement
benefits.
6. An actuarial valuation of the retirement Plan System met b;, made at least
once ev:.r•; tlizze-(3)-years cc..mcncing from the last actuarial report of the Plan as provided
for in Section 3. Such valuation shall be prepared by an enrolled actuary who is enrolled
under Subtitle C of Title 3 of the Employee Retirement Income Security Act of 1974 and
who is a member of the Society of Actuaries or the American Academy of Actuaries.
SECTION 14. ROSTER OF RETIREES.
The Secretary of the Board shall keep a record of all persons enjoying a pension
under the provisions of this Ordinance in which it shall be noted the time when the pension
is allowed and when the same shall cease to be paid. Additionally, the Secretary shall keep
a record of all Police Officers and tors cmp1oy„ y Members and
Retirees in such a manner as to show the name, address, date of employment and date sueh
employment is terminated of termination of employment.
SECTION 15. BOARD ATTORNEY AND PROFESSIONALS.
The Board may employ independent legal counsel at the Pension F r.clls System's
expense for the purposes contained herein, together with such other professional, technical,
or other advisors as the Board deems necessary.
•
SECTION 16. MAXIMUM PENSION.
1. Basic Limitation.
Subject to the adjustments hereinafter set forth, the maximum amount of annual
retirement income payable with respect to a Member under this Plan System shall not exceed
the lesser of: /�
A $90,00Q (Cr such los t as may♦ he
e dar yc:r pursuant to §115(b) of the Internal Revenue Code, as
adjusted in such calendar year for 4.V1V4JVs in the cost of living in
accordsnco :. moo nc i uod by the Secretary of the Treasury
undo: 415(d) of the Code), or
-29-
B. 100% of the Member's average aggregate Compensation for the three
(3) con;,ee tine c:lc:Liar years during which the Police Officer or
Firefighter :vas an active Member and had his highest aggregate
ticu. "Cempeneztic." shall mean the Police Officer's or
'en paid-er-aeerued-fer-persenal
services rendered t plcu year as reported on the
For purposes of applying the above limitation, benefits payable in any form
other than a straight life annuity with no ancillary benefits shall be adjusted, as provided by
Treasury Regulations, so that such benefits are the Actuarial Equivalent of a straight life
annuity. For purposes of this Section, the following benefits shall not be taken into account:
(1) Any ancillary benefit which is not directly related to retirement
income benefits;
(2) Any other benefit not required under §415(b)(2) of the interniti
Revenue Code and Regulations thereunder to be taken into
account for purposes of the limitation of §415(b)(1) of the
Internal Revenue Code.
2. Participation in Other Defined Benefit Plans.
The limitation of this Section with respect to any Member who at any time has
been a member in any other defined benefit Plan (as defined in §414(j) of the In;Lsr a
Revenue Code) maintained by the City shall apply as if the total benefits payable under all
defined benefit plans in which the.Member has been a member were payable from one plan.
3. Adiustments in Limitations.
In the event the Member's retirement benefits become payable before age 62,
the $90,000 limitation prescribed by this Section shall be reduced in accordance with Regula-
tions issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the
Internal Revenue Code, but not less than $75,000. if the benefit begins at or after age fifty-
five (55).
In the event the Member's retirement benefit becomes payable before age fifty-
five (55), the $75,000 limitation shall be reduced from age fifty-five (55) in accordance with
Regulations issued by the Secretary of the Treasury pursuant to the provisions of§415(b) of
the Internal Revenue Code. A Member with at least fifteen (15) years of Credited Service
may not have the benefit reduced below $50.000.00.
The reductions provided for in the previous two paragraphs shall not be
applicable to disability benefits paid pursuant to Section 8. or pre-retirement death benefits
paid pursuant to Section 7.
If the Member's retirement benefit becomes payable after age sixty-five (65),
for purposes of determining whether this benefit meets the limitation set forth in Subsection
1 herein, such benefit shall be adjusted so that it is actuarially equivalent to the benefit
beginning at age sixty-five (65). This adjustment shall be made using an.assumed interest
rate of five percent (5%) and shall be made in accordance with regulations promulgated by
the Secretary of the Treasury or his or her delegate.
-30-
•
4. Less than Ten Years of Service.
The maximum retirement benefits payable under this Section to any Member
who has completed less than ten (10) years of credited Service with the City shall be the
amount determined under Subsection 1 of this Section multiplied by.a fraction, the numerator
of which is the number of the Member's years of credited service and the denominator of
which is ten (10). The reduction provided for in this subsection shall not be applicable to
disability benefits paid pursuant to Section 8. or pre-retirement death benefits paid pursuant
to Section 7.
5. $10.000 Limit.
Notwithstanding the foregoing, the retirement benefit payable with respect to
a Member shall be deemed not to exceed the limitations set forth in this Section if the
benefits payable, with respect to such Member under this Plait System and under all other
qualified defined benefit pension plans to which the City contributes, do not exceed $10,000
for the applicable Plan Year and for-any prior Plan Year and the City has not at any time
maintained a qualified defined contribution plan in which the Member participated.
6. :;,;sued Benefit as of Effective i)ut:,.
c.. .r
date
lintitations—sh‘ all—equal such accrued benefit. However, :.c ez.—z
provided in 1.,.bLe V iz.-, . 9 shall be applicable to the amount of retirement benefit 30
6. Member in Defined Contribution Plan.
In any case where a Member under this Plait System is also a member in a
"Defined Contribution Plan" as defined in §414(i) of the lnter.al ne ate Code, maintained
by the City, the sum of the "Defined Benefit Plan Fraction" and the "Defined Contribution
Plan Fraction" (both as defined in §415(e) of the Code) shall not, subject
to the restrictions and exceptions contained in §2004 of the Act, exceed 1.0. This limitation
is repealed effective January 1. 2000.
$ 7. Reduction of benefits.
Reduction of benefits and/or contributions to all plans, where required, shall
be accomplished by first reducing the Member's benefit under any defined benefit plans in
which Member participated, such reduction to be made first with respect to the plan in which
Member most recently accrued benefits and thereafter in such priority as shall be determined
by the T_-:c:ea Board and the plan administrator of such other plans, and next, by reducing
or allocating excess forfeitures for defined contribution plans in which the Member par-
ticipated, such reduction to be made first with respect to the plan in which Member most
recently accrued benefits and thereafter in such priority as shall be established by the
Trustees Board and the plan administrator for such other plans provided, however, that
necessary reductions may be made in a different manner and priority pursuant to the agree-
ment of the Trustees Board and the elan administrator of all other plans covering such
Member.
-31-
9 a. Cost-of-Living Adjustments.
The limitations as stated in Subsections 1,. 2, _3, and 7 5 herein shall be
adjusted to the time payment of a benefit begins in accordance with any cost-of-living adjust-
ments prescribed by the Secretary of the Treasury pursuant to §415(d) of the Internal
Revenue Code.
49 2. Additional Limitation on Pension Benefits.
Notwithstanding anything herein to the contrary:
A. The normal retirement benefit or pension payable to a Retiree who
becomes a Member of the Plan System and who has not previously
participated in such Plan System, on or after January 1, 1980, shall not
exceed 100 percent of his or her Average Final Compensation.
However, nothing contained in this Section shall apply to supplemental
retirement benefits or to pension increases attributable to cost-of-living
increases or adjustments.
B. No Member of the Plan System
shall be allowed to receive a retirement benefit or pension which is in
part or in whole based upon any service with respect to which the
Member is already receiving, or will receive in the future, a retirement
benefit or pension from another retirement system or plan. This
restriction does not apply to social security benefits or federal benefits
under Chapter 67, Title 10, U.S. Code.
SECTION 17. CO rn ENCEM NT OOF BL S.
11 TT.r(„_,. aL.. ��f__.,.L_.- _aL,......:,.,. _1__a- -with _.._L _1
. V►4VJJ Y►V MVm a V �iVVW, ♦kith such clo
delivered tc the Trustees and specifying ;ha form of retirement inec nc :.nd da; on whoa
�v i vaaL i►►V V.►►V .J t ,
shall cca:..a 4cc not later t-an the 649th day after the clese of the Plan Year in which the
latest of the `iic:ving events occur:
A TL_ _ta..]_n ,.na L .
B. The 10th annivcrsa; of the date c.-. which ;he Mcn±cr
p-ti ipation in the Plan; or
The termination of the Member's service with the City.
1f—the pa mcnt of a Member's retirement income cannot bc;in an ;he-date
required under Subsection 1 of this .,V., eeausa tt he Test.,
amount of the Member's rctiramcr►t income 'er cannot locate the Ma:mbar Viking
reasonable efforts to do so, the payment of the Member's benefit shall begin not later than
sixty-(Q0ays after `he da`e -hielrme-ameunt can be ascertained or the Member is
''eaali:. Any such payment shall be made retroactive to a date
which is not earlier than the date an which the pa mcnt of the Member's benefit was
scheduled to begin but which is not later than the date specified under Subse
Section.
-32-
SECTION 18 17. DISTRIBUTION OF BENEFITS.
Notwithstanding any other provision of this Plan System to the contrary, a form of
retirement income payable from this Plan System after t eff ctive date of d s
cktober 1. 1991, shall satisfy the following conditions:
1. If the retirement income is payable before the Member's death,
A. It shall either be distributed or commence to the Member not later than
April 1, of the calendar year following the later of the calendar year in
which the Member attains age 70-1/2, or the calendar year in which
Member retires,
B. The distribution shall commence not later than the calendar year
defined above; and a), shall be paid over the life of the Member or
over the lifetimes of the Member and Spouse, issue or dependent, or
b), shall be paid over the period extending not beyond the life expect-.
ancy of the Member and spouse, issue or dependent.
Where a form of retirement income payment has commenced in accordance
with the preceding paragraphs and the Member dies before his or her entire interest in the
Plan System has been distributed, the remaining portion of such interest in the Plan System
shall be distributed no less rapidly than under the form of distribution in effect at the time
of the Member's death.
2. If the Member's'death occurs before the distribution of his or her interest in
the Plan System has commenced, Member's entire interest in the Platt System shall be
distributed within five (5) years of Member's death, unless it is to be distributed in
accordance with the following rules:
A. The Member's remaining interest in the Plan System is payable to his
or her Spouse, issue or dependent;
B. The remaining interest is to be distributed over the life of the Spouse,
issue or dependent or over a period not extending beyond the life
expectancy of the Spouse, issue or dependent; and
C. Such distribution begins within one year of the Member's death unless
the Member's Spouse, issue or dependent shall receive the remaining
interest in which case the distribution need not begin before the date on
which the Member would have attained age 70-1/2 and if the Spouse;
issue or dependent dies before the distribution to the Spouse, issue or
dependent begins, this Section shall be applied as if the Spouses-issue
or dependent were the Plan Member.
SECTION 4.9 18. MISCELLANEOUS PROVISIONS.
•
1. Interest of Members in Pension-Fund System. •
At no time prior to the satisfaction of all liabilities under the Platt System with
respect to Retirees and Members and their Spouses or Beneficiaries, shall any part of the
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corpus or income of the Pension Fund be used for or diverted to any purpose other than for
their exclusive benefit.
�. Lio ensic:a Fund Assets.
aua that the r.r a.u� con..• LAC
nation
w • , iv Vorb. with
it 4th e-appia v-
tie requirornents of the Act by r ties. T rights of
affected Plan Members, joint annuitants, bV
spouses to benefits accrued to the dots
_ ;diseentimia islullh vested-and
teald�d
nonc tab1. wau U�6\iy_LL1:V1f�a� event, t _t distributed at.such time or p by tho Beef
Trustees.
D. Any : .:.: •VaTt✓Vl ich shall be re
arcact a V ,
that all of the benefit:, acVi is r;
cl- releasco' scrvcs (er any remaining portion
cated tc provide to the extent possible up to one --pereent
(100%) of the benefits otherwise cancelled pursuant to Seettsn--20-;
value of the benefits so cancelled.
C. The Board of Trustees a..ay::a it.; discretion give effect-te-the isiens
of the foregoing paragraphs A and B ' 'V� alaV ,
eenti.. .; the Trust Fund in existence and making provision.:-theme
der-- r pension benefits, or by immv '
Fund. If `t c assets of the �Pensio:. Fund appa�e—tc any asset
o:priority category arc insufficient to r id�ef s-€er
ra v r iva.
al-perasonrs in such group, thebenefits otherwise payable to such
persons shall ',so V V 1ducVd proportionately exce t aJ n-.ay ou c rri.V VV
tried r liens If—there I
specified by lV 4VaaJ• aJ any
Pension Fund after ob:iga ' ers, joint—annuitants,
beneficiaries and sur rlring 4, t, such Vwwace :Till:overt a.
the City. The actuary shall calculate-the lculate the allocation of the assets of the
r........i _- 1L the „sset .1:-1-r:1.._.tiw-. �j catc
_ �eY].7Yt,7Ya taYYYiY in accordant., rr iva uaa. aiJJVr <aiJ 4liVu4Vai priority
gory, and certify his calculations to the Fiduciaries. No liquidationl of
or provision
made by the Board of Trustees until after it is advised by the City in
writing—that applicable....1.1..
aapplicaable requirements, if any, of the Act governing
have been, or arc being, complied :.:t': or that approp=
tiers, wavers, cxrepttens or variances have been, or arc being,
obtained.
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22. No Reduction of Accrued Benefits.
•
No amendment or ordinance shall be adopted by the City Commission of the
City of Ocoee which shall have the effect of reducing the then vested accrued benefits of
Members or a Member's beneficiaries.
Qualification of System.
It is intended that the System will constitute a qualified pension plan under the
applicable provisions of the Code. as now in effect or hereafter amended. Any- modification
or amendment of the System may be made retroactively. if necessary or appropriate. to
aualifv or maintain the System as a Plan meeting the reauirements of the applicable
provisions of the Code as now in effect or hereafter amended. or any other applicable
provisions of the U.S. federal tax laws. as now in effect or hereafter amended or adopted._
and the regulations issued thereunder.
4 Use of Forfeitures.
Forfeitures arising from terminations of service of Members shall serve only
to reduce future City contributions.
SECTION 28 19. REPEAL OR TERMINATION OF SYSTEM.._...
1. This ordinance establishing the System,and Fund; and subsequent ordinances
pertaining to said System and Fund,.may be modified, terminated, or amended, in whole or
in part; provided that if this or any subsequent ordinance shall be amended or repealed in its
. application to any person benefiting hereunder, the amount of benefits which at the time of
any such alteration, amendment, or repeal shall have accrued to the Member or Beneficiary
shall not be affected thereby, except to the extent that the assets of the Fund may be deter-
mined to be inadequate.
2. If this ordinance shall be repealed, or if contributions 'to the System.are
discontinued, the Board shall continue to administer the System in accordance with the
provisions of this ordinance, for the sole benefit of the then Members, any Beneficiaries then
receiving retirement allowances, and any future persons entitled to receive benefits under one
of the options provided for in this Ordinance who are designated by any of said Members.
In the event of repeal, or if contributions to the System are discontinued, there shall be full
vesting (100%) of benefits accrued to date of repeal and the assets of the System shall be
allocated in an equitable manner to provide benefits on a proportionate basis to the persons
so entitled in accordance with the provisions.thereof.
3. The following shall be the order of priority for purposes of allocating the assets
of the System as of the date of repeal of this ordinance, or if contributions to the System are
discontinued with the date of such discontinuation being determined by the Board.
A. Apportionment shall first be made in respect of each retired Police
Officer or Firefighter Retiree receiving a retirement or disability benefit
hereunder on such date, each person receiving a benefit on such date
on account of a retired or disabled (but since deceased) P;,u=c Of-facer.
or Firefighter Member, and each Police Offic;; or Ficfighter Member
who has, by such date, become eligible for normal retirement but has
not yet retired, an amount which is the Actuarial Equivalent of such
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benefit, based-den the, :-- Incfc- u -s�he
aav u a�• va ru�rvJ�T V�tl'lL
most :eee.-.t, , provided that, if such asset value be
less than the aggregate of such amounts, such amounts shall be
proportionately reduced so that the aggregate of such reduced amounts
will be equal to such asset value.
B. If there be any asset value remaining after the apportionment under
paragraph A, apportionment shall next be made in respect of each
Policc Officer ea Firefighter Member in.the service of the City on such
date who hwu eempletcd at least ten (10) years of credited service
vested and who is not entitled to an apportionment under paragraph A,
in the amount required to provide the Actuarial Equivalentr-afi
desc.ibed :n A above, of the vested vortion of the accrued normal
retirement benefit (but not less than Accumulated Contributions), based
on the credited Service and Average Final
Compensation as of such date, and each vested former Member then
entitled to a deferred benefit who has not, by such date, begun
receiving benefit payments, in the amount required to provide said
Actuarial Equivalent of the vested portion of the accrued normal retire-
ment benefit (but not less than Accumulated Contributions), provided
that, if such remaining asset value be less than the aggregate of the
amounts apportioned hereunder, such latter amounts shall be propor-
tionately reduced so that the aggregate of such reduced amounts will be
equal to such remaining asset value.
C. If there be any asset value after the apportionments under paragraphs
A and B, apportionment shall be made in respect of each Police Officer
or Firefighter Member in the service of the City on such date who is
not entitled to an apportionment under paragraphs A and B in the
amount equal to Member's Accumulated Contributions, provided that,
if such remaining asset value be less than the aggregate of the amounts
apportioned hereunder such latter amount shall be proportionately
reduced so that the aggregate of such reduced amounts will be equal to
such remaining asset.value.
D. If there be any asset value remaining after the apportionments under
paragraphs A, B, and C, apportionment shall lastly be made in respect
of each Police Officer or Firefighter Member included in paragraph C
above to the extent of the Actuarial Equivalent, as described in
paragraph A above, of the non-vested accrued normal retirement bene-
fit, less the amount apportioned in paragraph C, based on the Credited
Service and average r er.thlreamings Average Final Compensation as
of such date, provided that, if such remaining asset value be less than
the aggregate of the amounts apportioned hereunder, such amounts shall
be reduced so that the aggregate of such reduced amounts will be equal
to such remaining asset value.
E. In the event that there be asset value remaining after the full apportion-
ment specified in paragraphs A, B, C, and D, such excess shall be
returned to the City, less return of the State's contributions to the State,
provided that, if the excess is less than the total contributions made by
the City and the State to the date of termination such excess shall be
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-
divided proportionately to the total contributions made by the City and
the State.
The allocation of the Fund provided for in this Subsection may, as decided by
the Board be carried out through the purchase of insurance company contracts to provide the
benefits determined in accordance with this Subsection. The Fund may be distributed in one
sum to the persons entitled to said benefits or the distribution may be carried out in such
other equitable manner as the Board may direct. The Trust Fund may be continued in
existence for purposes of subsequent distributions.
If, at any time during the first ten (10) years after the effective date of th_t this
A Qrdinance originally establishing this System, the System shall be terminated or the full
current costs of the System shall not have been met, anything in the System to the contrary
notwithstanding, City contributions which may be used for the benefit of any one of the
twenty-five (25) highest paid Police Officers or Firefighter:. ;,r r
Members on the effective date, whose anticipated annual retirement allowance provided by
the City's contributions at Member's normal retirement date would exceed $1,500, shall not
exceed the greater of either a) $20,000, or b), an amount computed by multiplying the
smaller of $10,000 or twenty percent (20%) of such n:,ice Officer's or Fircfighter's
Member's average annual earnings during his or her last five (5) years of service by the
number of years of service since the effective date. In the event that it shall hereafter be
determined by statute, court decision, ruling by the Commissioner of Internal Revenue, or..
otherwise, that the provisions of this paragraph are not then necessary to qualify the System
under the Internal Revenue Code, this paragraph shall be ineffective without.the necessity
of further amendment of this ordinance.
4. After all the vested and accrued benefits provided hereunder have been paid.
and after all other liabilities have been satisfied, then and only then shall any remaining funds
revert to the general fund of the City..
SECTION 24 20. EXEMPTION FROM EXECUTION. NON-ASSIGNABILITY.
Except as otherwise provided by law. the pensions, annuities, or any other benefits
accrued or accruing to any person under the provisions of this ordinance and the Accumulat-
ed Contributions and the cash securities in the Fund created under this ordinance are hereby
exempted from any state, county or municipal tax of the state and shall not be subject to
execution, attachment, garnishment or any legal process whatsoever and shall be unassign
able.
SECTION 22 21. PENSION VALIDITY.
The Board of Trustees shall have the power to examine into the facts upon which any
pension shall heretofore have been granted under any prior or existing law, or shall hereafter
be granted or obtained erroneously, fraudulently or illegally for any reason. Said The Board
is empowered to purge the pension rolls or correct the pension amount of any person
heretofore granted a pension under prior or existing law or any person heretofore hereafter
granted a pension under this ordinance if the same is found to be erroneous, fraudulent or
illegal for any reason; and to reclassify any person who has heretofore under any prior or
existing law been or who shall hereafter under this ordinance be erroneously, improperly or
illegally classified. Anv overnavments or underpayments shall be corrected and paid or
repaid in a reasonable mariner determined by the Board. ,
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SECTION 23 22. FORFEITURE OF PENSION. •
L Any Police Officer or Firefighter Member who is convicted of the following
offenses committed prior to retirement, or whose employment is terminated by reason of his
or her admitted commission, aid or abetment of the following specified offenses, shall forfeit
all rights and benefits under this Pension Fund, except for the return of his or her
Accumulated Contributions as of the date of termination. 4-,Specified offenses are as follows:
A. The committing, aiding or abetting of an embezzlement of public funds;
B. The committing, aiding or abetting of any theft by a public officer or
employee from employer;
C. Bribery in connection with the employment of a public officer or
employee;
D. Any felony specified in Chapter 838, Florida Statutes;
E. The committing of an impeachable offense.
2F. The committing of any felony by a public officer or employee who
willfully and with intent to defraud the public or the public agency, for
which he or she acts or in which he or she is employed, of the right to •
receive the faithful performance of his or her duty as a public officer
or employee, realizes or obtains or attempts to obtain a profit, gain, or
advantage for himself or for some other person through the use or
attempted use of the power, rights, privileges, duties or position of his
or her public office or employment position.
z4 2. Conviction shall be defined as fellows: an adjudication of guilt by a court of
competent jurisdiction; a plea of guilty or a nolo contendere; a jury verdict of guilty when
adjudication of guilt is withheld and the accused is placed on probation;'or a conviction by
the Senate of an impeachable offense.
$ 3. Court shall be defined as follows: any state or federal court of competent
jurisdiction which is exercising its jurisdiction to consider a proceeding involving the alleged
commission of a specified offense. Prior to forfeiture, the Board of Trustees shall hold a
hearing on which notice shall be given to the Member whose benefits are being considered
for forfeiture. Said Member shall be afforded the right to have an attorney present. No
formal rules of evidence shall apply, but the Member shall be afforded a full opportunity to
present his or her case against forfeiture.
4. Any Member who has received benefits from the System in excess of his or
her Accumulated Contributions after Member's rights were forfeited shall be required to pay
back to the Fund the amount of the benefits received in excess of his or her Accumulated
Contributions. The Board of Trustees may implement all legal action necessary to recover
such funds.
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SECTION 24 23. INDEMNIFICATION.
1. To the extent not covered by insurance contracts in force from time to time,
the City shall indemnify. defend and hold harmless members of the Board of Trustccs from
all personal liability for damages and costs, including court costs and attorneys' fees, arising
out of claims, suits, litigation, or threat of same, herein referred to as "claims", against these
individuals because of acts or circumstances connected with or arising out of their official
duty as members of the Board of Trustccs. The City reserves the right, in its sole discretion,
to settle or not settle the claim at any time, and to appeal or to not appeal from any adverse
judgment or ruling, and in either event will indemnify. defend and hold harmless any
members of the Board of from the judgment, execution, or levy thereon.
2. This Section shall not-be construed so as to relieve any insurance company or
other entity liable to defend the claim or liable for payment of the judgment or claim, from
any liability, nor does this Section waive any provision of law affording the City immunity
from any suit in whole or part, or waive any other substantive or procedural rights the City
may have.
3. This Section shall not apply nor shall the City be responsible in any manner
to defend or pay for claims arising out of acts or omissions of members of the Board of
Tru3tcca which constitute felonies or gross malfeasance or gross misfeasance in office.
SECTION 25 24. FAMILY AND MEDICAL LEAVE ACT.
The fractional parts of the twenty-four (24) month period ending each March 1 that
a Member is on leave without pay from the City pursuant to the Family and Medical Leave
Act (FMLA) shall be added to his or her Credited Service provided that:
1. The Member contributes to the Fund the sum that he or she would have
contributed, based on his or her Salary and the Member contribution rate in effect at the time
that the Credited Service is requested, had he or she been a Member of the System for the
fractional parts of the twenty-four (24) months ending each March 1 for'which he or she,is
requesting credit plus amounts actuarially determined such that the crediting of service does
not result in any cost to the Fund plus payment of costs for all professional services rendered
to the Board in connection with the purchase of periods of Credited Service.
2. The request for Credited Service for FMLA leave time for the twenty-four (24)
month period prior to each March 1 and payment of professional fees shall be made on or
before March 31.
3. Payment by the Member of the required amount shall be made on or before
April 30 for the preceding twenty-four (24) month period ending March 1 and shall be made
in one lump sum payment upon receipt of which Credited Service shall be issued.
4. Credited Service purchased pursuant to this section shall not count toward
vesting.
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SECTION 26 25. DIRECT TRANSFERS OF ELIGIBLE ROLLOVER
DIS'1'RIBUTIONS.
1. General.
This Section applies to distributions made on or after January 1, 1993.
Notwithstanding any provision of the System to the contrary that would otherwise limit a
distributee's election under this Section, a distributee may elect, at the time and in the
manner prescribed by the Board, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in.a direct rollover.
2. Definitions.
A. Eligible Rollover Distribution: An eligible rollover distribution is any
distribution of all or any portion of the balance to the credit of the
distributee, except that an eligible rollover distribution does not include:
any distribution that is one of a series of substantially equal periodic
payments (not less frequently than annually) made for the life (or life
expectancy) of the distributee or the joint lives (or joint life expectan-
cies) of the distributee and the distributee's designated Beneficiary, or
for a specified period of ten years or more; any distribution to the
extent such distribution is required under section 401(a)(9) of the Code;
and the portion of any distribution that is not includible in gross
income.
B. Eligible Retirement Plan: An eligible retirement plan is an individual
retirement account described in section 408(a) of the Code, an
individual retirement annuity described in section 408(b) of the Code,
an annuity plan described in section 403(a) of the Code, or a qualified
trust described in section 401(a) of the Code, that accepts the
distributee's eligible rollover distribution. However, in the case of an
eligible rollover distribution to the surviving Spouse, an eligible
retirement plan is an individual retirement account or individual
retirement annuity.
C. Distributee: A distributee includes an employee or former employee.
In addition, the employee's or former employee's surviving Spouse is
a distribuee with regard to the interest of the Spouse.
D. Direct Rollover: A direct rollover_is a payment by the plan to the
eligible retirement plan specified by the distributee.
SECTION 26. PRIOR POLICE OR FIRE SERVICE
Unless otherwise prohibited by law. and except as provided for in Section 1. the years
or fractional parts of years that a Police Officer or Firefighter previously served as a Police
Officer or Firefighter with the City of Ocoee during a period of previous employment and
for which period Accumulated Contributions were withdrawn from the Fund. shall be added
to his or her years of Credited Service provided that:
1. The Police Officer or Firefighter contributes to the Fund the sum that he or
she would have contributed. based on his or her Salary and the Member contribution rate in
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effect at the time that the Credited Service is reauested. had he or she been a Member of this
System for the years or fractional parts of years for which he or she is reauesting credit plu4
amounts actuarially determined such that the crediting of service does not result in any cost
to the Fund plus payment of costs for all professional services rendered to the Board in
connection with the purchase of years of Credited Service.
2 The request shall be made only once and made by the Police Officer or
Firefighter on or before the later of twelve (12) months from the effective date of the
ordinance adopting this provision or six (6) months from the date of his or her employment_
or reemployment with the City Police or Fire Department. whichever is later.
Payment by the Police Officer or Firefighter of the reauired amount shall be
made within six (6) months of his or her request for credit and shall be made in one lump,
sum payment to the Board. upon receipt of which Credited Service shall be given.
4 The maximum credit under this Section shall be one (1) year of Credited
Service and shall count for all purposes. including vestin'.
•
•
dm\ocoee\pf\82996pf.ord •
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