O85-46ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF BOYNTON BEACH, FLORIDA, ~ENDING
CHAPTER 18. PENSIONS AND RETIREMENT,
ARTICLE II. EMPLOYEES' PENSION PLAN,
DIVISION 4. RETIREMENT AND RETIREMENT
BENEFITS, SECTION 18-118. RETIREMENT
ANNUITY OPTION. OS THE CODE OF ORDINANCES
OF THE CITY OF BOYNTON BEACH, FLORIDA;
PROVIDING THAT EACH AND EVERY OTHER
PROVISION OF CHAPTER 18. PENSIONS AND
RETIREMENT. SHALL REMAIN IN FULL FORCE
AND EFFECT AS PREVIOUSLY ENACTED; PROVIDING
A CONFLICTS CLAUSE, A SEVEP~BILITY CLAUSE,
AND AUTHORITY TO CODIFY; PROVIDING AN
EFFECTIVE DATE; AND FOR OTHER PURPOSES.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF BOYNTON BEACH, FLORIDA:
Section 1: Chapter 18. PENSIONS AND RETIREMENT, Article
III. Employees' Pension Plan, Division 4. Retirement and Retirement
Benefits, Section 18-118. Retirement annuity option, of the Code
of Ordinances of the City of Boynton Beach, Florida, is hereby
amended to read as follows:
Sec. 18-118. Retirement annuity option.
At any time prior to or upon the date
of normal retirement, a member may elect
to receive annuity benefits payable under
the plan with the approval of the pension
board in the form of a joint and survivor
annuity instead of the normal annuity form,
which shall be the actuarial equivalent of
the annuity which he would normally receive.
A member may rescind such election at any
time prior to his or her normal retirement
date. Under the joint and survivor annuity,
two-thirds (2/3) of the retirement annuity
income continues to the surviving contingent
annuitant, until his or her death. The
election of a joint and survivor annuity
shall be deemed to be automatically cancelled
in the event of the death of
m~ean% the joint annuitant prior to the
member's actual retirement.
Section 2: Each and every other provision of Chapter 18.
PENSIONS AND RETIREMENT. shall remain in full force and effect as
previously enacted.
Section 3: All ordinances or Darts of ordinances in
conflict herewith are hereby repealed.
Section 4: Should any section or provision of this
Ordinance, or any portion thereof, be declared by a court of
competent jurisdiction to be invalid, such decision shall not
affect the remainder of this Ordinance.
Section 5:
codify this Ordinance.
Section 6:
Specific authority is hereby given to
This Ordinance shall become effective
immediately upon passage.
198~.
FIRST READING this c~/~day of ~,~3~
SECOND READING and FINAL PASSAGE this ~ day of
THE CITY OF BOYNTON BEACH, FLORIDA.
COUNCIL MEMBER
ATTEST:
(Seal)