Ordinance 2007-001 Amending GEPP Retirement Benefit
ORDINANCE NO. 2007-001
AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA,
RELATING TO THE CITY OF OCOEE MUNICIPAL
GENERAL EMPLOYEES' RETIREMENT TRUST FUND,
ADOPTED AND RESTATED IN FULL BY ORDINANCE
NUMBER 96-19; AS SUBSEQUENTLY AMENDED;
AMENDING SECTION 6, BENEFIT AMOUNTS AND
ELIGIBILITY; REPEALING ALL ORDINANCES IN
CONFLICT HEREWITH AND PROVIDING AN
EFFECTIVE DATE.
SECTION 1: Authoritv. 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: That Ordinance No. 96-19, adopting the amended and restated City of
Ocoee Municipal General Employees' Retirement Trust Fund, is hereby amended by
amending Section 6, Benefit Amounts and Eligibility, subsection 2, Normal Retirement
Benefit, to read as follows:
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 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 1'.,>;0 and one half pereent (2.5%) three percent (3%) of Average
Final Compensation, for each year of Credited Service. up to a maximum benefit not to exceed
eighty-one percent (81 %) of Average Final Compensation of the Member.
SECTION 3. Repeal of Ordinances. All ordinances or parts of ordinances in
conflict herewith are hereby repealed.
SECTION 4. Effective Date. This ordinance shall take effect retroactively on
December 1, 2006.
PASSED AND ADOPTED this 16th day of January, 2007.
ATTEST:
APPROVED:
CITY OF OCOEE, FLORIDA
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Beth ikenberry, City Clerk U
(SEAL)
ADVERTISED November 12,2006
READ FIRST TIME November 21,2006
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA
APPROVpp AS TO FORM AND LEGALITY
THIS ~ay of ~2007
CHRISTIANSEN & DEHNER, P.A.
Special Counsel
By:1d<\AA-CU~
ksd\noc\ocoee\gen\OI-17-07.ord
READ SECOND TIME AND ADOPTED
J~ \\1 ,2007
APPROVED BY THE OCOEE CITY
COMMISSION AT A MEETING HELD ON
--::bn. \<, ,2007 UNDER AGENDA ITEM
NO. ,~
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