HomeMy WebLinkAboutOrdinance 2001-22
ORDINANCE NO. 2001-22
AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA,
RELATING TO THE CITY OF OCOEE MUNICIPAL
POLICE OFFICERS' AND FIREFIGIITERS'
RETIREMENT TRUST FUND; AMENDING ORDINANCE
NUMBER 96-20, AS SUBSEQUENTLY AMENDED;
AMENDING SECTION 6, BENEFIT AMOUNTS AND
ELIGffiILITY; 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 vm of the Constitution of the State of Florida and
Chapter 166, Florida Statutes.
SECTION 2: That Ordinance No. 96-20, adopting the amended and restated City of
Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently
amended, is hereby further amended by amending Section 6, Benefit Amounts and Eligibility,
subsection 4, Early Retirement Benefit, to read as follows:
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 determined based
upon his or her actual years of Credited Service 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 on 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, determined based upon his or her
actual years of Credited Service; 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 actu.:u:iaHy leduced flom dIe Anlount to
which he 01 she riould have been entitled had he 01 she leti:red on his 01
hel normal leti:rcntent date and with dIe same numbel of years of
Ctedited Sel vice as at the ti:nte Ius or hel benefits commence and based
on his 01 bet: A~elage Pinal Compensation at that date reduced by three
percent (3 %) for each year to age 50 and actuarially reduced from age
50 to age 45 r by which the commencement of benefits precedes the date
which would have been the Member's normal retirement date determined
based upon his actual years of credited service had he continued
employment as a Police Officer or Firefighter.
SECTION 3. Repeal of Ordinances. All ordinances or parts of ordinances in conflict
herewith are hereby repealed.
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SECTION 4. Effective Date. This ordinance shall take effect retroactively on
December 31, 1999.
PASSED AND ADOPTED this 2.1.u day of Pt u a. I.L..t '(
, 2001.
ATTEST:
APPROVED:
CITY OF OCOEE, FLORIDA
By'
S. Scott Vandergrift, Mayo
(SEAL)
ADVERTISED ~11C'(A..s,. q. ~f)d I
READFIRSTT ~~7fS1' ~ tfPf
READSECONDTIM ND b P ED
~UG,U.s.T ~ II 2..M'l\
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA
APPRWJiD AS TO ~~GALITY
TillS .. day of. .. A{/' 2001.
CHRISTIANSEN & DEHNER, P.A.
Special Counsel
r1!-wt n (l .
By:L\' ~
APPROVED BY THE OCOEE CITY
COMMISSION AT A MEETING HELD
ON ~iWs"( 2-d ,2001, UNDER
AGE EM N :vr ~~.
noc\ocoee\pt\02-20-01.ord
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