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O75-34ORDINANCE NO. 7 5- AN ORDINANCE OF THE CITY OF BOYNTON BEACH, FLORIDA, AMENDING SECTIONS 21-25, 21-33, 21-37, 21-38, 21-40, 21-47, 21-48, 21-49, 21-50, 21-51, 21-52, 21-53 AND 21-56 OF CHAPTER 21 OF THE CODIFIED ORDINANCES OF SAID CITY PERTAINING TO THE MUNICIPALEMPLOYEES' PENSION PLAN, FOR THE PURPOSE OF CLARIFYING AND AMENDING SAID SECTIONS; PROVIDING FOR AUTHORITY TO CODIFY, SAVINGS CLAUSE, REPEALING PROVISIONS, .... EFFECTIVE-DAT~.AND FOR'OTHER PURPOSES. BElT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDA: Section 1: That Section 21-25 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, providing the definition of !'general employee" is hereby amended to read as follows: "Section 21-25. Definitions. General Employee. A general employee shall include all employees as defined in Section 21-25 herein, other than policemen or firemen who have not elected to become members of this pension plan under the provisions of Section 21-32." Section 2: That Section 21-25 of Chapter 21 of the codified Ordinances of the City of Boynton Beach, Florida, is hereby amended by adding an additional definition entitled "spouse", which additional definition shall read as follows: "Section 21-25. Definitions. Spouse. The spouse of a member who was married to the member throughout the two year period ending on the date of the member's death." Section 3: That Section 21-33 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida~ is hereby amended to read as follows: "Section 21-33. Creditable Service. Creditable service for the purpose of calculating benefits for general employees shall consist of the member's service rendered by the employee since he last became a member, plus past service rendered continuously since the employee's last date of employ- me~t as defined in Section 21-34, to the date of ~is separation from service by reason of death, disability, termination of employment or retirement." Section 4: That Section 21-40 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, is hereby amended to read as follows: "S~tion~21-'40. Employee contributions. Employeos Who are members of~the Plan shall con- tribute 3% of the first $550 cf monthly earnings, plus 6% of monthly earnings in excess of $550. (Example 1: oAn employee earning $500 per month Kill contribute 3% of $500, or $15 to the fund for that month. Example 2: An. employee ea~ing $750 per month will contribute 3% Of $550~ plus 6%'0f $200, or $28.50 to the fund for that month.)" Section .5: That Section 21~47 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, is hereby amended to read as follows: ".Section 21-47. Normal retirement. An e~mployee will normally retire on > ~ .... the first day of the montk following the employee's 65th birthday or the first day of the month following ten years of credited service with the City, whichever is later. "In the event of such normal retirement, the retiring employee shai1 be~ entitled Go and shall be paid an annuity payable mOnthly beginning with the month of.retirement and continuingluntii death. The amount of~ annuity to which the retiring employee will be entitled will be equal to 30% of th~ first $550 of his 'final average monthly c~mpensation' plus 60% of tho excess over $550 of~ such compensation, provided the employee has completed at least 30 full years of credited service at hiS n~rmal retirement date. If the employee's cre~ite~ service at ~Qrmal retirement date is less t~an 30 f~ll .years, the aforesaid amount shall be reduced for the s~orter s~vi~e by multiply- · ng~ it by~ a fraction the n~umerator~ 0f which is the em~OY~e~ full~y~ars an~icompleted~mo~ths of credited ser~Ce~t' normal re~i~em~nt date ~a the denominator of which ~s 30 years. "'F~nal average monthly compensation for purposes of ~th~s Section 5 ShaT~ me~a~ ~he ~n~hly average ofI the ,e~ployee's ~eArnin~s' id~ri~g ~ highest 60 conr Secut~e~calend~r mon~s ~ccurrin~ within the 120 caien~ar months~imi~edi~t~y ~prece~in~ his retiremen~ date. 'Earninqs' as'used in the ~above sentence · ~ '~ ' ~ b employee shall mean gross earnings received y the as ,I ' ~ .it compensation fo~ service ~o the Cm ~, including oven- time pay but exeli~ding bonuses." Section 6: That Section 21-48 of Chapter 21 of the Codified Ordinances of the City ef Boynten Beach, Florida, is hereby repea~ed and a new paragraph 21-48 entitled "Minimum Benefit" shall be added, which additional paragraph shall read as follows: "Section 21-48. Minimumbenefit. In no event shall an employee's monthly retirement benefit determzned under Sections 21-47, 21-49, 21-50 or 21-53 be less than the monthly retirement benefit which such employee ~ould.have received based on his accrued benefit as of April 30, 1975, under the provi- sions of the Plan as in effect immediately prior to May 1, 1975." -2- Section 7: That Section 21-49 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, hereby amended by adding an additional paragraph to said Section, which additiona~ paragraph shall read as.follows: Section21-419. Delayed retirement. In.,the e~ent of~D~lay~d~.Reti~ement: Qfan employee he shall be e~ti~led %a and shall b~ p~id an annuity p~yable r~onthty beginning with the month of actual retirement and cont~nu~n~ unt~t death. The amount o suchannuity shall ~be determined in the same manner as t~e normal retirement benefit a~deseribed in Section 21i~47 but based ~pon his f~n~l!average monthlyc°mpensation a~d~ his' credited~Ser~ice as of ~is Delayed~Retirement d~te." Section 8: That Section 21-50 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, is hereby amended to read as follows: "Section 21-50. Retirement prior to normal retirement date. The early retirement date of an emptoyee shall be the first day of any month prior to his normal retire- ment date andlfollowing,I O~ coinciding with, the date of actual~ retirement, prbvided he has then completed ten years of credited service and has attained his 55th birthday. An empto~ee who retires on an early retirement date shall be entitled to a deferred annuity payable monthty be~innin~ at his normal retirement date or, if he so elects, to at his early retirement annuitywill be equal to normal retirement unde but based on compensation as anticipated credited s, date, then red~ lng the result by is the employee's credited seruice s of which, is ~he immediate a~nuity beginning The amount of the deferred benefit determined as for provisionsiof Section 21-47 final average monthly r~tiremen~ date and his as of normal retirement ser~ice~ by multiply- of which months of ite the denominator 's anticipated full years and complete~ ~r~ice at normal retire- ment date. If the retiring emptoye~ elects t? receive an immediate annuity ~o ~mencing at his~early retirement date, th~ amount o~ suc~ immedia~te annuity sh911 be the actuari~i equivalent of~the deferre~ ahnuity described mn the preceding sentence. Section 9: That Section 21-51 of Chap%er 21 of the Codified Ordinances of the City of Boynton Beach, Florida, is hereby amended to read as follows: "Section In the event of the d has retired at his norms early retirement date be entitled to a lump addition to the above at the time of his dea least five years of crud 21-51. Death b~fore retirement date. eath of an employee before he 1 retirement date or at an s designated beneficiary shall m pa!~ment of $5,000. In mp stun payment, provided that the employee has completed at ired service and is survived -3- "by a spouse as defined in Section 21425, his spouse shall be entitled to a monthly a~nuity commencing J-~mediate!y and 6ontinuing untiI such Spouse's death or remarriage, whichever first occurs. The monthly amount of such spouse's benefit shall be equal to 25% of the monthly base rate of compensation which the employee was receiving as of the date of his death; except tha~, if the spouse's a~e is more than five years less than ithe empIoyee's age the monthly benefit will be ac~tuarially redUCed~o~an amount equa~ in ~alue to'the benefit if th~ spouse had been exactly five yea~s y~nger than the employee. "If, after the cessation of a~l death benefits and spouse's b~nefits as described in this Section 21-51, the aggregate amount of all such pa!rmen~s made is less~n ~he aggregate contributions the emplo3~e had mad~ tO the fund as of the date of his aeath (together ~ith~in~erest ~he~e6n at the rate of ,3% per annum comp~ted~as of the end of. the plan year ~o~ which contribution was made to date of death), his deSigna~ed~beneficiarY shall be~paid a ~lumP~sUmpay- mehteqUalto ~h~differenc~ between s~ch ~Ontributions with i~%erest and the ag~regate~ a~ount of 8~ath benefits and spouse s benefzts pazd. Section.10: That Section 21-52 of Chapter 21 of the Codified Ordinances of the City of Boynton Beach, Florida, is hereby amended to read as follows: "SeGtion 2t-52. Death afte~ retirement date. ~In the event cT the death of an employee after he ha~ retired at either his normal retirement date or at aniearly retirement date and provided such employee is survived by a spouse as defined in Section 21-25, his sp®use shall be entitled to a monthly annuity conunenc- lng immediately and continuzng until such spouse's de&th. The monthly amount of such spouse's benefit shall be an amount equal to 50% of the amount of~ monthly retirement benefit which the employee had been receiving immediately prior to his death or, if the emptoy~ee has retired at an early retirement date and his deat~ oceurred prior to commencement of payments, an emount equal to 50% of the amount of monthly retirement benefit which the employee would have been eligible to receive ha~ he. elected commencement of payments as of the date or-his death. If the spouse's age is more than five years less than the employee's age the monthly ~enefit will be act~arially reduced to an amount equal in value to the benefit if the spouse had been exactly five years younger than the employee. Furthermore, if at the time ~of~d~ath.of..the spouse~'tbe agg~egat~ amount 'of ~onthly benefit payments which had be~n made to both th~ employee before his death and to the spouse after hi~ ~eath is less than the aggregate ~ont~ibutions (tggether wzth zntere~st thereon at the ratelof 37 pe annum comp~ted as of t~e end Of the plan year fqr which contributiDn was. mad~ ~o date of death) made by ~he employeelp~ior~ to his death, the difference between such two kggregate amounts ishall be paid in a lUmp sum ho thel employee's: ~esignated benefieiary. -4- "In the ev. ent o~ the death of an. employee after he has retired at eit~her his normal retirement date or at an early ~retirement date and who is not survived by an eligible spous~ as defined in Section 21-25 and whose aggregate Mount of benefit payments received prior t6 hi~ death is less ~han th~ aggregate contri- butions (together wi~h interest there~n a~ described above) mad~ by the employee prior to his death~ the differenCe be%ween suChtwo agg~egateamounts shall be paid i~ a lump sum to the emPl°Yee~'s designated beneficiary." Section 11[ That Section 21-53 of Chap%er 21 of the Codified Ordinances of the City of Boyn~on Beach, Florida, is hereby amended to read as follows: "Section 21~53. Termination of service prior to eligibility for retirement. In th~ case of voluntary resignation or discharge of any member of the plan, the total amount contributed by said employee to the fund up to the time of his resignatien or discharge (together with interest thereon at the rate of 3% per annum computed as of the end of the plan year for which contribution was made to date of ~ermin~ion of servi~s), shall be returned and said empleyee shall immediately cease to be a member of, ~nd e~t~tled to, any other benefits from this plan unless the member has completed ten years of credited service under %he plan or is totally and permahently disabled. If he has completed ten or more years of credited service or is totally and permanently disabled he Shall be' fully vested and ~nt~tled to a deferred annuity commencing at his normal retirement date. The monthl~ amount of such dsferred annuity shall be an a~ount ~mputed. ih the same manner as the deferred annuity described for e[arty retirement in Section 21-50. P0r ~he purpose of~suc~ calcui~t~o~, the member's date of termina~on~of ~mpl~men~ S~ail be considered as his early reti~emeht date. "An employee who is ~ntitled to a deferred annuity under ~he provisions o~ this Section 21-53 may waive his right tO such deferred annUi~ye and accept in lieu thereof the total amount he has Contributed to ~he pension fund (together ~ith interest thereon as described above) up to the time cf his resignation er discharge. "In the event of resignation or discharge of any member as described in this Section 21-53, any con- tributions.theretofore made by the City relating to such member, with accruals thereon, which have not vested in accordance with the provisions of this Section 21-53, shall be used to reduce contributions to be made thereafter by the City and shall not be used to increase the benefits of any member." Section 12: ~hat Section 21-56 of Chapter 21 of the Codified Ordinances of the City Of Boynton ~each, Florida, is hereby amended to read as follows: "Section 21-56. Member records; status statements; beneficiary designations. A separate record of acdount shall be maintained for each member and among other things shall show his service record, his accumulated contributions to the plan, his exact age, his designation of beneficiary, together with any such information as is necessary for an active and Comprehensive determination of his status under this Plan. "~A member of the Plan shall complete and file with the Board adesignation~0~ beneficiary which names the person who i~ to rec~i~e any de~th benefits that .oti6~s 21-5~1 and 21-52 the of plan. An employee who has a beneficiaryiat~ t~e rime'of hisin in this Plan may fll~a designation any .~ime t~er~after. ~ m~bermgy na~ioh of'b~neficiary a~ any t~m~ bI des~nation pf~benef~c!~y form. If fabled,to f~te~a designation Of benef be~f~s whzch would, noumatly be pa~ ben~¢~ar~ iS~&ll be, pa~d to ~ne ~s~ member at g- has death SeCtion 13~ That Section 21-37 of Chapter 21 of the Codified O~dinances of the City of Boynton Beach, Florida, is hereby ~mended tO read as follows: "Sectiom 21-37. .Military and related service. ~en any member is ~inducted or enli.sts into any of tke Armed Forces of the United States or enlists in any reserve c~mp6nent, enlLsts zn the U. S. Coast Guard, or in any other reserve component, or enters upon active du~y in the Armed F6rce~s'of the United Stabes~ the U. S. Coast ~Guard, or the United States Public Health Service in ~esponse to an order or call to active duty, and is s~bsequently re-employed by the City as a full- time. permanent general city employee under such c~rcu~stgmces 'that he ~thsreb~ becomes ent~led to return to work for thel city ~ithin the time that re- employment r~ghts are ~rante~ to him by law, he shall agama become a member of the Plan and ~shaI1 be given s~rv~ce credit for th~ credited service he had accumu- lated before entering ~ilitary or related service and shall again accumu%at~ addzt~onal cre~ted servzce commencing with the d~te of his re-emploYment by the City. I~ approved by th~ BoArd ~uch ~mbe~ may also be granted servzce cr~_d~t fo~ th~ per~Dd of t~me spent · n m~llta~y or retate~ service. Section 14: That Section 21-38 of Chapter 21 of the Codified Ordinances of the Ciity of Boynton Beach, Florida, is hereby amended to read as follows: "Section 21-38. Re-employment; no leave of absence or militaryservice. When any former ,employee of the City is re-employed, and said employee had withdrawn contributions previously made to the Plan, he will again.become a member of the Plan upon re-employment as a full time permanent general city employee. T~e credited service which such re-employed member had~accumulated as of the date of his prior termination df ~mploymentshall be reinstated and he shall aQorue additional ~redited servi~e from tke da~e of~ His re-emploYn~eh~. benefits, other ~han ref~d o~ employeecon~ributions made after~ the d&~e of r~emPioy~nt, to which such reVemployed membersubse~e~ly becomes Shrilled,shall b~ aq~uar~tly reduced b~!~he va~ue of ~h~ contributions he h~d pre~iouslywithdrawn. and ,,~ ~hen e of the City is re-employed ~ terminated hisi to a deferred annuity, made . the Plan as of' time p servle~ as ~er of re-employment as a full of of his re-~mployment. member subse- the sum of p~evlous termination subsequen~%yto his Section 15, Authority ~[ ~dify: Specific authority is hereby granted to codify and in~Qrporate this Ordinance in the City's existing Code. Section 16. Separabilit~ Ordinance are separable~ inclu sentence, and if any portion the remaining portion shall nc :lEach of the p~ovlsions of this ling word, clause, phrase or ~ereof shall be declared invalid, be affected but shall remain in full force and effect. Section. 17~ of Ordinances in Section 18. Repealing Provisions: Ail Ordinances or parts conflict herewith are hereby repealed. Effective Da e: This Ordinance shall be effective am of ~e 1st 'day of April+.1975. Firsn reading this /~ day~ of September, 1975. -7- Second, final reading and passage this ~/ day of ATTEST: CITY BOYNTON BEACH, FLORIDA oer City Clerk -8-