O99-28 ORDINANCE NO. 099-~
AN ORDINANCE OF THE CITY COMMISSION ~OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AMENDING CHAPTER 18, ARTICLE IV,
PENSIONS FOR FIREFIGHTERS, SECTION
18.180 PROVIDING FOR A 3% MULTIPLIER;
PROVIDING FOR CONFLICTS, SEVERABILITY,
CODIFICATION AND AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Boynton,
has received a report from EFI Actuaries regarding the cost
for increasing the multiplier for the City of Boynton Beach
Municipal Firefighters Pension Trust Fund (hereinafter
referred to as ~ FUND" ); and
WHEREAS, said report has been reviewed by City staff
~nd upon staff recommendation, the City Commission deems it
to be in the best interests of the members of said FUND to
increase the multiplier from 2.6% to 3%;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, T~IAT:
Section 1. That Chapter 18, Article IV, Pensions for
Firefighters Section 18-180 is hereby amended by adding the
words and figures in underlined type and by deleting the
words and figures in struck-through type, as follOws:
18-180. Monthly retirement income.
The amount of monthly retirement income
payable to a firefighter who retires on or
after the firefighter' normal retirement
date shall be an amount equal to the
number of the firefighter's years of
credited service multiplied by t-~:c and
~- ~^~~ ....... ~ ~ (2.~, three (3%) per
cent of such firefighter's average final
compensation.
Section 2. If there any additional costs to the
City of Boynton Beach that are specifically as a result of
the increase in the multiplier to 3%, the costs will be paid
from the Plan.
Section 4. Each and every other Section of Chapter
18, not herein specifically amended, shall remain in full
force and effect as previously enacted.
Section 5. All ordinances or parts of ordinances in
~onflict herewith be and the same are hereby repealed.
Section 6. Should any section or provision of this
)rdinance or portion hereof, any paragraph, sentence or word
be declared by a court of competent jurisdiction to be
invalid, such decision shall not affect the remainder of
5his ordinance.
Section 7.
said ordinance.
Section 8.
Authority is hereby granted to codify
This ordinance shall become effective
immediately upon passage.
FIRST READING this 7 day of September, 1999.
SECOND, FINAL READING AND PASSAGE this c~/
~--,~Fi. , 1999.
~TTEST:
day of
CITY.OF BOYNTON~EACH, FLORIDA
~ayor / /
Vice/Mayor
~a~°~ ~% %m
Commissioner
Commissioner
Cig Clerk