03-065ORDINANCE NO.
AN ORDINANCE OF THE CITY OF BOYNTON BEACH,
FLORIDA AMENDING ARTICLE III, ENTITLED "PENSIONS
FOR POLICE OFFICERS," OF CHAPTER 18 OF THE CODE
OF ORDINANCES OF THE CITY OF BOYNTON BEACH,
FLORIDA; PROVIDING FOR MONTHLY SUPPLEMENTAL
BENEFITS; PROVIDING FOR CODIFICATION; PROVIDING
FOR CONFLICT; PROVIDING FOR, SEVERABILITY; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Boynton Beach, Florida, presently has a retirement plan and
fund for police officers; and
WHEREAS, the Board of Trustees ("Trustees") of the Boynton Beach Municipal
Officers' Retirement Trust Fund ("Fund") desires to amend the City Code to amend
monthly supplemental benefit; and
WHEREAS, the ordinance has been reviewed by the actuary for the Fund and a copy
impact statement has been filed with the Division of Retirement in Tallahassee; and
WHEREAS, the City Commission of the City of Boynton Beach, Florida has
this amendment will benefit the citizens of the City of Boynton Beach;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF
CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The foregoing "WHEREAS" clauses are hereby certified as being true
correct and are incorporated herein by this reference.
Section 2. Chapter 18, Article III, §18-169(F) of the Code of Ordinances of the
of Boynton Beach, Florida, entitled "Requirements for Retirement-Benefit Amounts," is
amended as follows:
§18-169
Requirements for Retirement - Benefit Amounts.
CODING:
Words in s~ type are deletion from existing law;
Words in underscored type are additions.
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Monthly Supplemental Benefits.
1. Effective October 1, 2006, any retiree, including DROP
participants, or beneficiary receiving pension benefits is entitled to a
monthly supplemental pension benefit. The benefit pool will be
funded by 100% of the earnings and 10% of the principal created by
the contributions set forth in paragraph $ 4 below.
2. Beginning October 1, 2003, 100% of the excess money
received pursuant to Chapter 185, Florida Statutes, ("185 money")
each calendar year in excess of the base amount of $465,087, plus one
percent (1%) of payroll annually to fund the benefit as provided in
paragraph 4, plus any 185 money held in reserve, shall be distributed
to all current retirees, including DROP participants, or beneficiaries
receiving benefits. These supplemental benefit payments will be
distributed according to the formula set for in paragraph 3. This
distribution is in addition to the benefit provided for in paragraph 1
which shall begin October 1, 2006.
-2-:. 3~ The benefit pool shall be divided according to the total number
of years of service rendered by all retirees, with a cap of 20 years. The
shares will be divided on a pro-rata basis on the following schedule:
20 or more years of service
19 years of service
18 years of service
17 years of service
16 rears of service
15 years of service
14 years of service
13 years of service
12 years of service
11 years of service
10 years of service
9 years of service
8 years of service
7 years of service
6 years of service
5 years of service
Duty Disability
Nonduty Disability
Beneficiary
100%
95%
90%
85%
8O%
75%
70%
65%
60%
55%
5O%
45%
40%
35%
30%
25%
100%
Based on above schedule
B d oz .. ase on ~o ..........
CODING:
Words in ~ type are deletion from existing law;
Words in underscored type are additions.
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,,."r-A*;-~'o.,~...,~,, ~ benefit number
of years of retiree's service
3? 4_. Such benefit will be funded by a 1% contribution from the
Members and a 1% contribution from the -;'-. ~rr~+; ...... ;+h the 185
......................... ~j~o~. The Member and ~ 185
con~butions shall be effective October 1, 2001. the first Pall
e ............... a .... Em oyees will
con~bute to this benefit t~ough 20 years of se~ice.
4, 5. Tkis These benefits shall be payable monthly as a part of the
regular monthly pension benefit. The benefit shall be payable to the
retiree, including DROP participants, or ~nd any beneficiary eligible to
receive benefits as a result of the death of a retiree. The benefit shall
cease upon the death of the member retiree or beneficiary, whichever
is the last surviving pension recipient.
Section 3. It is the intention of the City Commission of the City of Boynton
that the provisions of this Ordinance shall become and be made a part of the Code of
Ordinances of the City of Boynton Beach, Florida. The Sections of this ordinance may be
re-lettered and the word "Ordinance" may be changed to "Section", "Article" or
such other word or phrase in order to accomplish such intention.
Section 4. All Ordinances or parts of Ordinances, Resolutions or parts of
Resolutions in conflict herewith be and the same are hereby repealed to the extent of such
conflict.
Section 5. If any clause, section, or other part or application of this Ordinance
shall be held by any court of competent jurisdiction to be unconstitutional or invalid, such
unconstitutional or invalid part or application shall be considered as eliminated and so not
CODING:
Words in strike through type are deletion from existing law;
Words in underscored type are additions.
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the validity of the remaining portions or applications remaining in full force and
Section 6. This Ordinance shall become effective when the foregoing changes to
~ension benefits has been ratified by the collective bargaining unit(s) representing the Police
Employees, or their successor organization.
FIRST READING this ~ dayof '~)~-~t~[}~:f ,2003.
SECOND, FINAL READING and PASSAGE this [(o day of
b~_.eot~h~r- ,2003.
aTTEST:
CLERK
SEA[)
CITY OF BOYNTON BEACH, FLORIDA
~2(yo r /'
Commissioner
CODING:
Words in ~ type are deletion from existing law;
Words in underscored type are additions.
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