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Municipal Police Officers' Retirmenet Trust Fund 1994 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/95 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 **DET. MAHONEY, James, Chair 4/95 737-4097 • Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/95 964-8658 Police Dept. 5540 Teakwood Rd. Lake Worth 33467 *DET. CASH, Roger 4/95 734-4580 Police Dept. 2598 SW 10th Street 33426-7403 +LT. HOLLIHAN, John, Secy. 4/95 Police Dept. 611 SW 1st Ave. 33435 h 5/9/94 c/pol-94 -16- 1993 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/95 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 **DET. MAHONEY, James, Chair 4/95 737-4097 Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/95 964-8658 Police Dept. 5540 Teakwood Rd . Lake Worth 33467 *DET. CASH, Roger 4/95 734-4580 Police Dept . 2598 SW 10th Street 33426-7403 +LT. HOLLIHAN, John, Secy. 4/95 Police Dept. 611 SW 1st Ave. 33435 1/27/94 c/pol-93 -16- 1993 MUNICIPAL POLICE OFFICERS' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/95 737-1113 Realtor & 415. SW 4th Ave Mortgage Broker 33435 **DET. MAHONEY, James, Chair 4/95 737-4097 Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/95 964-8658 Police Dept. 5540 Teakwood Rd. Lake Worth 33467 *DET. CASH, Roger 4/95 734-4580 Police Dept. 2598 SW 10th Street 33426-7403 +LT. HOLLIHAN, John, Secy. 4/95 Police Dept. 611 SW 1st Ave. 33435 7/26/93 c/pol-93 -16- 1993 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ , Ralph J . 4/95 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 ELc-ced ar_.c.t, (//5 **DET. MAHONEY, James , Chair 4/93 737-4097 Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/93 964-8658 Police Dept. 5540 Teakwood Rd . Lake Worth 33467 *DET. CASH, Roger 4/95 734-4580 Police Dept . P.O. Box 3987 33424 +LT. HOLLIHAN, John, Secy. 4/95 Police Dept. 611 SW 1st Ave. 33435 //5 5/24/93 c/pol-93 -16- S a ? 09_ ,3 1993 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/95 737-1113 Realtor & C) 415 SW 4th Ave Mortgage Broker 33435 **LT. YANNUZZI, Chris \' 4/95 964-9089 Police Dept. ( 75 Cedar Circle 33462 **SGT. NISSENSOHN, David 4/95 964-8658 Police Dept. 5540 Teakwood Rd. Lake Worth 33467 /'- a--1-,10A-61- c-11 /-20-9 *DET. CASH, , Ro er 4/95 734-4580 Police Dept. 2598 SW 10th Street 33426 +LT. HOLLIHAN, John, Secy. 4/,93 Police Dept. 611 SW 1st Ave. 33435 iv,, -1 t>c� 5/3 Ct„u i! W t'm- tw.. • rf /1 cam' y4J 4/30/93 c/pol-93 -16- 1992 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/93- //5 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 _ L°�vzc 7CCSa�rot �tZ7 c�& - Lz d' aL, ** ED T:'MAHONEY James, Chair 4,-9-3- tth5 737-4097 Police Dept. 441S �Y`d�Av'enue--- 35 r **SGT. NISSENSOHN, David 4-/-9-3 Ings 964-8658 Police Dept. 5540 Teakwood Rd . i2 u$6 Lake Worth 33467 n� e 513-23 *DET. CASH, Roger 4/93 734-4580 Police Dept. P.O. Box 3987 33424 +LT. HOLLIHAN, John, Secy. 4/// Police Dept. 611 SW 1st Ave. q/95. 33435 , , td � 6 octiLd si3 9/24/92 c/pol-92 -2&- 1992 MUNICIPAL POLICE OFFICERS ' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/93 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 **DET. MAHONEY, James , Chair 4/93 737-4097 Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/93 964-8658 Police Dept. 5540 Teakwood Rd . Lake Worth 33467 *DET. CASH, Roger 4/93 734-4580 Police Dept. 741 S .W. First Ct. 33435 +LT. HOLLIHAN, John, Secy. 4/93 Police Dept. 611 SW 1st Ave. 33435 5/7/92 c/pol-92 -15- 1991 MUNICIPAL POLICE OFFICERS' RETIREMENT TRUST FUND 5 Members *Commission Appointed - 2 year term **Elected by Police Officers - 2 year term +Board Appointed - 2 year term Term Occupation/ Member Expires Phone Profession *DIAZ, Ralph J. 4/93 737-1113 Realtor & 415 SW 4th Ave Mortgage Broker 33435 **DET. MAHONEY, James , Chairman 4/93 737-4097 Police Dept. 441 SW 3rd Avenue 33435 **SGT. NISSENSOHN, David 4/93 964-8658 Police Dept. 5540 Teakwood Rd . Lake Worth 33467 *DET. CASH, Roger 4/93 734-4580 Police Dept . 741 S .W. First Ct. 33435 +LT. HOLLIHAN, John, Secy. 4/93 Police Dept. 611 SW 1st Ave. BB 33435 1/28/92 c/pol-91 -16- Revision 3 t'..„.<::.,: .. .� ., !' iy •/ Sy S Y.,- "-. ... >' h.. y ,yr <r.,ial, .5,2,..;,:,,,e•.:;-" k.".4,-.1.,.7.\...,";%. 4 ; ,t4 1 y,g, - "•; a :..Z"471,1- p;', -s' `' r 1i y 4 n s..z .. r -4 d 4-- tt ' <'`.,7y- - - e< h x r [_ ,. sx+e: , 1. `xk 'Atse • -$-• ala < 1�0 .s 1.'''-r'r .••' 3,•P r • ---••';‘,. f i+ r + ) • '4 r' Y''''''...!•.j'7 ;='-aa t* Sg •,,,7 '�i 4 • _ �,3n. � "' ,. '•• _ -7 y i - ! c i,x '. �.i� r:--_,(1•••,-••-•.- t r 7,--A 7 ' 'tir`:ear-Y � ys,• ✓•'iC .�x _ -yet • r i 'Z' -. r r �'-f° y-i ;.� r.7 3 ^:•r } ~041-,,t! � '#1ay ,f*. a'tir y e - r ras r �e r h , rx ,a• 11.' 'i T F, -�z . ! ':i.'K,� r t �d w�? �,g` {r 4l i. C :4,-$:..,. (, f' S 2 .41 ♦< 7 •'‘'.."'•--;.:3;,.:4-:-.'!,; F�r • C„•1 i• k ,41.04:07%,"—. • y :." t : ' 1. - _ i z " .4 ai1'S„_ ,. s,�r -?," 'q ,} xW., r,•F• >- sit,"- aE a. ♦Gl s" Y .V y '}' Ch. 185 MUNICIPAL POLICE OFFICERS RETIREMENT TRUST FUNDS F.S. 1987 t. F tary service of the United States or United States Mer- from both this chapter and chapter 175. chant Marine by the police officer on leave of absence History.-s.1,ch.28230,1953;s.2,ch.29825,1955;s.2,ch.61-119;s.1,ch for such reason shall be added to the years of service, 65-152;s.7,ch.79-380;s.2,ch.79-388;s.3,ch.86-42. tr in in provided, however, that to receive credit for such ser- 185.04 Actuarial deficits not state obligations.— in vice the police officer must have reentered the munici- Actuarial deficits, if any,arising under this chapter shall k . p< pality's police service within 1 year of date of release not be the obligation of the state. - fu from service. History,-s.lb,ch.28230,1953. -. to ' (6) Otherwise, "aggregate number of years of ser- f or vice with the municipality" means the total number of 185.05. Board of trustees; members, terms of of- years,and fractional parts of years,of service of any po- lice.— trt - lice officer, omitting intervening years and fractional (1) In each municipality described in s. 185.03 there - parts of years,when such police officer may not be em- is hereby created a board of trustees of the municipal sti ployed by the municipality. Provided, however, that no police officers'retirement trust fund,which shall be sole- . Cc police officer will receive credit for years or fractional ly responsible for administering the trust fund.Effective by parts of years of service for which he has withdrawn his October,1, 1986, and thereafter, the board of trustees contributions to the fund for those years or fractional shall consist of five members,two of whom,unless oth- parts of years of service; and provided further that no erwise prohibited by law,shall be legal residents of the gu credit will be given for service after the normal retire- municipality, who shall be appointed by the legislative St( zs ment date. Further providing that a police officer may body of the municipality, and two of whom shall be po- voluntarily leave his contributions in the fund for a period lice officers as defined ins.185.02(1)who shall be elect- of 5 years after leaving the employ of the police depart- ed by a majority of the police officers who are members ne: '` ment,pending the possibility of his being rehired by the of such plan.The fifth member shall be chosen by a ma- uric same department, without losing credit for the time he jority of the previous four members, and such person's nizi has participated actively as a police officer. Should he name shall be submitted to the legislative body of the torr not be reemployed as a police officer,with the same de- municipality. Upon receipt of the fifth person's name, a 1. partment, within 5 years, his contributions shall be re- the legislative body of the municipality shall,as a minis- the turned to him without interest. terial duty,appoint such person to the board of trustees rata (7) "Enrolled actuary" means an actuary who is en- as its fifth member. The fifth member shall have the - 1011 4:: rolled under Subtitle C of Title III of the Employee Retire- same rights as each of the other four members appoint- b ment Income Security Act of 1974 and who is a member ed or elected as herein provided and may succeed him- 5 pi of the Society of Actuaries or the American Academy ofself, in office.Each resident member shall serve as trust- stoc Actuaries. ee for a period of 2 years,unless sooner replaced by the gat( History.-s.11,ch.28230,1953;s.1,ch.29825,1955;s.1,ch.59-320;s.1,ch. perc 61-85;s.7,ch.79-380;s.2,ch.79-386;s.2,ch.86-42. legislative body at whose pleasure he shall serve, and • may succeed himself as a trustee. However, the terms or tf p"- • 185.03 Municipal police officers' retirement trust of the mayor,or corresponding chief executive officer of gra . `7 funds; creation; applicability of provisions; participa- the municipality, and the chief of the police department - This tion by public safety officers.— as members of the board of trustees as provided in part (1) There may be hereby created a special fund to chapter 28230, Laws of Florida, 1953, as amended, to- has be known as the"Municipal Police Officers' Retirement gether with any city manager and member of the legisla• corn Trust Fund," exclusively for the purposes provided in tive body of the municipality as members of the board sire this chapter, in each municipality of this state, hereto- of trustees shallterminate on September 30, 1986.Each es fore or hereafter created, which now has or which may police officer member shall serve as trustee for a period hereafter have a regularly organized police department, of 2 years, unless he sooner leaves the employment at men - which now owns and uses or which may hereafter own the municipality as a police officer,whereupon t e legs- 11cip - and use equipment and apparatus of a value exceeding lative body of the municipality shall choose his succes• 1 sp( $500 in serviceable condition for the prevention of crime sor in the same manner as an original appointment.Each -r to tt-- and for the preservation of life and property, and which police officer may succeed himself in office. The board •quit does not presently have established by law a similar of trustees shall meet at least quarterly each year.EaCn 't,nre fund. �-rovi: board of trustees shall be a legal entity with, in addition • avi de i. • (2) The provisions of this act shall apply only to mu- to other powers and.responsibilities contained herein. nicipalities organized and established pursuant to the the power to bring and defend lawsuits of every kind,n3• =ontr laws of the state and said provisions shall not apply to ture, and description. Mate � • the unincorporated areas of any county or counties nor (2) The trustees shall by majority vote elect from its .1 shall the provisions hereof apply to any governmental members a chairman and a secretary. The secretary ct :irer entity whose employees are eligible for membership in the board shall keep a complete minute book of the ac' •,,gulz a state or state and county retirement system. - tions, proceedings, or hearings of the board.The trust- .rafts (3) No municipality shall establish more than one re- ees shall not receive any compensation as such, but the of tirement plan for public safety officers which is sup- may receive expenses and per diem as provided by law the pt ` ported in whole or in part by the distribution of premium History.-s.2,ch.28230 1953:s2ch59-320;s2ch.61-119;s.4,ch 95-'+7 reasu ; tax funds as provided by this chapter or chapter 175,nor / •+ hen , . , . . , shall any municipality establish a retirement plan for 185.06 Powers of board of trustees.— Y made. 47. public safety officers which receives premium tax funds (1) The board of trustees may: fund. '-p' __ 1024 „x,, s, y ti,z -V....•u: t',-,,"..-,3.+'�.1.. y d r_;ga.'.47.-+..q R..i • .., 4 p �. , ,� ➢+.-r”`.., .. y..- L{ 4., -,,, ,, +.."-�-....=fir. r,. s -,'. t ,f. �`./ '{hg�;,,...,v,. 4 , - _`avw i,'+' x x •}.,ii;27,1,-.':..1,..44,-...+ l t l,.a `i ' �`s'`-‘,:.2.4,4„ +sr - .:r �j. F f` -z`.--..,*,.r.',�L '* �<a.'c".4,-- :�?—„ ts �, M >laL z� .�' - '+Li9” - ., .., i.' „zar "J•t�J-' s, S 1 •G^4+. ., °*'• ,;k if,,', 1� �,z-. .tta C .7� .,?a'4• a rd�, r �� hi• f•< § < c..->"--i 357-'�aY st'c '�"{ ..1-'',,,"F ra 3'Y 4*, .*�'��..1• -113,::: d`f,1 4 - .14'."!..217' 57: �'.:. �s 7 :'� �- I i '�. r; h.� r7Ck` x xf+1 -.c1 ti 's :p ,t x YF r 'S •.V �' s:•....,;8::,......07,c.:,!,-..;_.,....,...,,..:::_,_ ^x, 4 f-' c N r . 1 ,r ez.F ► k } x s ;:...,-..-,:-;.,.•:..::,,,...,;.....t.,-;....,:.:,. ..,t.rwr '�' -a.- d� .e. `� � �.�c� Z;"" <`+6, a F' s r -a.:, a C +,' _, �. r .sifs ?}. V } . tiT..'''''4,-...r_"- .>fe .-i ks i 4 fN.r, ,. S. �. _ ,17.: i { .1.':. s r _ 1 �. ° rY ..r t ti xxs r ' a-. at i� y : j .1,,s 1 0.1`... j u? .,a V, . -ti^ .. ,i s,11 ,..'er r ,,r ..t-r-. s x--.1�.-,G4 • . 4r.•i" .?,,..,....t..11:,,„-Al • c •4to4 i,;.' 14 _ :c .. - b, ' „I:el>,.sa* 7.es ;Z . 'p - s.'ti.;-`' e ¢ tJ.-„ - 'i ;:--c,-L;."4....,..: fes.4' r 1. tt F.S. 1987 MUNICIPAL POLICE OFFICERS RETIREMENT TRUST FUNDS Ch. 185 'f, �j ..(I s11 st4 ii4.y. (a) Invest and reinvest the assets of the retirement (d) Finally decide all claims to relief under the i . trust fund in annuity and life insurance contracts of life board's rules and regulations and pursuant to the provi- ' 1 Atn .h '�54 ' insurance companies in amounts sufficient to provide, sions of this act. } t.,, .t • in whole or in part,the benefits to which all of the partici- (e) Convert into cash any securities of the fund. s ' I • i • pants in the municipal police officers' retirement trust (f) Keep a complete record of all receipts and dis- I1 ,• t • fund shall be entitled under the provisions of this chap- bursements and of the board's acts and proceedings. , ,, ter,and pay the initial and subsequent premiums there- (2) Any and all acts and decisions shall be by at '` ',t on. least three members of the board; however, no trustee r j 'i (b) Invest and reinvest the assets of the retirement shall take part in any action in connection with his own • ' trust fund in: participation in the fund, and no unfair discrimination I-1 F IC 1. Time or savings accounts of a national bank, a shall be shown to any individual employee participating I • ., - • state bank insured by the Federal Deposit Insurance in the fund. - '. . Corporation, or a savings and loan association insured (3) The sole and exclusive administration of,and the • ` I ' 1.1 ' , r by the Federal Savings and Loan Insurance Corporation. responsibilities for, the proper operation of the retire- l ' 2. Obligations of the United States or obligations ment trust fund and for making effective the provisions ; ~--t cuaranteed as to principal and interest by the United of this chapter are vested in the board of trustees; how- ' i,4%!.:• • States. ever, nothing herein shall empower a board of trustees 1 t . 13 t z- - • 3. Bonds issued by the State of Israel. to amend the provisions of a retirement plan without the I I ' 4. Bonds, stocks, or other evidences of indebted- approval of the municipality.The board of trustees shall I I01.1.,--f-,';'n,,,,,, ress issued or guaranteed by a corporation organized keep in convenient form such data as shall be necessary 1 i t ,a , under the laws of the United States, any state or orga- for an actuarial valuation of the retirement trust fund and i ' ` r zed territory of the United States,or the District of Co- for checking the actual experience of the fund. t ' ( , t - _!.;mbia, provided: (4) At least once every 3 years,the board of trustees ,; ' �xx t,- a. The corporation is listed on any one or more of shall retain an independent consultant professionally ., t^e recognized national stock exchanges and holds a qualified to evaluate the performance of professional 1 I sr= '43t,,r��,,,; moneymanagers. The independent consultant shall ' i• ` '' "1, atmg in one of the three highest classifications by a ma- 9 P i �f�• yx�� ,�� -r rating service; and make recommendations to the board of trustees regard- 1 I ¢ ,,n, V b. The board of trustees shall not invest more than ing the selection of money managers for the next invest- ' nvest II .v ; } 4,,.<` 5 percent of its assets in the common stock or capital ment term.These recommendations shall be considered w ry - =_tock of any one issuing company, nor shall the aggre- by the board of trustees at its next regularly scheduled I'. 'r. :u,`Mr x e�,xr- ' gate investment in any one issuing company exceed 5 meeting.The date,time,place,and subject of this meet- Iii,:. eet II • #+ � {^ ,� ' cercent of the outstandingcapital stock of the company ing shall,be advertised in a newspaper of general circu- - P� P Y '� t� ,� ��`; r.�5� • lation in the municipality at least 10 days prior to the I I mss. ` ' ` cr theaggregate of its investments under this sub ata 'r r ;�' 4.,0'?, a h acost exceed 30 percent of the fund's assets. date of the hearing. 1! , ,. , �'w' pHistory.—s.3,ch.28230.1953:s.1.ch.57-116:s.3.ch w�-3 ,s.2,ch.61-119: t '1`k i>° s.1,ch.65-366:ss.22,35.ch.t -tC€:s.5,ch 86=2. dts nis paragraph shall apply to all boards of trustees and ,� '� { articipants. However, in the event that a municipality 185.061 Use of annuity or insurance policies.— l "A -as a duly enacted pension plan pursuant to, and iri When the board of trustees purchases annuityi or life in- ;I ( t{ ' a, • =cmpliance with, s. 185.35 and the trustees thereof de surance contracts to provide all or part of the benefits � ,;1',41,1,:,,i. y., 4, --...re to vary the investment procedures herein,the trust- promised by this chapter, the following principles shall i E; , _*`�4..';�,,;`' • .es of suchplan shall request a variance of the invest- I h( �'~ril'-, ;r- ,,:•.",- . qbe observed: I �} -:ent procedures as outlined herein only through a mu- (1) Only those officers who have been members of I 1� 9 . - Fr'r-+ , ' v f,cipal ordinance or special act of the Legislature;where the retirement trust fund for 1 year or longer may be in- �II r r x .. special act,or a municipality by ordinance adopted pri- cluded in the insured plan. •; h --; -• to October 1, 1986,permits a greater than 30-percent (2) Individual policies shall be purchased only whenI , ".1 1.1.14. nt,:',. :-puity investment, such municipality shall not be re- a group insurance plan is not feasible. 1 4r'�r1 R • :.,fired to comply with theaggregate a uit investment ..4 P Yequity (3) Each application and policy shall designate the I i,' ����Y ,(fi4�. tovisions of this paragraph. Investments shall not be pension fund as owner of the policy. II '• Y''•{ i,x. --,ade in any stocks,bonds,or other securities owned or (4) Policies shall be written on an annual-premium �k 4 .1.::,•,..v strolled by a government other than that of the United basis. I I' `�''� �_''' -ales or of the several states. (5) The type of policy shall be one which for the pre- , , i I ,, r"" . 3? 1cl Issue drafts upon the municipal police officers' mium paid provides each individual with the maximum I� : , kf 7: P'{ •••:irement trust fund pursuant to this act and rules and retirement benefit at his earliest statutory normal retire- ;I. ' r ,,x; 4>;•`4:, • emulations prescribed bythe board of trustees.All such ment age. !I ,f; • :•aits shall be consecutively numbered, be signed by (6) Death benefit, if any, should not exceed: I '4�}r 1 F{'4 I . chairman and secretary, and state upon their faces (a) One hundred times the estimated normal month I, tft. `'' • :he purposes for which the drafts are drawn. The city Iy retirement income,based on the assumption that the IIS 1' t-; „r a1 , , treasurer or other depository shall retain such drafts present rate of compensation continues without change •I I '7,1.-,%;•b.-.:.i, 1 ..hen paid, as permanent vouchers for disbursements to normal retirement date, or ' I 1,1r...•! .. made,and no money shall otherwise be drawn from the (b) Twice the annual rate of compensation as of the Iryr<T `und. date of termination of service, or :1 i „ i'i • 'i. ,41=r 1025 I ,a ' "4:„..”,..'„--tt ' , I1 k } i -' rr ' .. ; Y.,