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ORDINANCE 04- 0570
AN ORDINANCE OF THE CITY OF BOYNTON BEACH,
FLORIDA PROVIDING A ONE-TIME OPPORTUNITY FOR
CURRENT MEMBERS OF THE GENERAL EMPLOYEES'
PENSION PLAN TO INCLUDE PRIOR MILITARY SERVICE AS
CREDITABLE SERVICE TOWARDS A MEMBER'S PENSION BY
PURCHASING SERVICE CREDITS FOR SUCH MILITARY
SERVICE SERVED BY THE MEMBER; PROVIDING
REGULATIONS FOR IMPLEMENTATION OF THIS OPTION;
DIRECTING THAT A CERTIFIED COPY OF THIS ORDINANCE
BE PROVIDED TO THE FLORIDA DIVISION OF RETIREMENT;
PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the General Employees' Pension Board of Trustees ("Board") has
determined the necessity to provide for a one-time opportunity for current members of
the General Employees' Pension Plan ("Plan") to include prior military service, as
defined in §18-81 of the Plan, as creditable service towards a member's calculation of
pension benefits under the Plan by purchasing service credits for prior military service;
and
WHEREAS, the Board has approved and recommended to the City
Commission the adoption of this modification to the Plan; and
WHEREAS, it is the desire of the City Commission to modify the Plan as
recommended by the Board;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The foregoing "WHEREAS" clauses are hereby certified as
being true and correct and are incorporated herein by this reference. All exhibits
attached hereto are hereby incorporated herein.
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Section 2. The City Commission of the City of Boynton Beach, Florida
hereby provides for a one-time opportunity for current members of the General
Employees' Pension Plan ("Plan") to include prior military service, as defined in § 18-
81 of the Plan, as creditable service towards their calculation of pension benefits under
the Plan by purchasing service credits for prior military service. This option shall only
be available to those persons who are members of the Plan as of the effective date of
this Ordinance.
Section 3. The open enrollment period for exercising this option shall
commence thirty (30) business days following the adoption of this Ordinance to
provide sufficient notice to Plan members. The open enrollment period shall remain
open for sixty (60) days, during which time a Member choosing to exercise this option
shall submit the required forms to the Plan Administrator demonstrating their intent to
exercise such option. Any member failing to submit the required forms prior to such
expiration date forfeits the option to purchase prior military service as creditable
Any future military service shall continue to be regulated by §18-
service in the Plan.
81 of the Plan.
Section 4.
It shall be the member's financial responsibility to buy back
such military service as credited service in the Plan pursuant to the calculations
provided by the Plan actuary which shall be provided to each member during the thirty
(30) day notice period. Credit shall be awarded only for that service bought back and
only upon receipt of payment. The member may make payment for such purchased
service credit over a five (5) year period commencing with the first date of open
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enrollment. No member shall receive credit for purchased service credits for which
payment has not been received. Any service credits for which payment has not been
received prior to the expiration of the five (5) year payment period shall be forfeited.
Section 5. 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 6. It is hereby directed that a certified copy of this Ordinance shall
transmitted to the State of Florida Division of Retirement.
Section 7. 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 effecting the validity of the remaining portions or applications
remaining in full force and effect.
Section 8. This Ordinance shall become effective when the following have
occurred:
(a) the City Commission has received and has accepted a report
,
establishing the actuarial soundness of these amendmentsl and
As to bargaining unit members, when a collective bargaining
agreement ratifying the foregoing changes to pension benefits has
been ratified by the City Commission and the General Employees'
Pension Board of Trustees, or their successor organization.
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Upon satisfaction of all of the above requirements, then in that event, the
terms and provisions of this Ordinance shall become effective.
FIRST READING this 1'"/ day of gtlgtl.~F ,2004.
SECOND, FINAL READING and PASSAGE this
, 2004.
ATTEST:
~CI CLERK ' ' '
day of
CITY OF BOYNTON BEACH,
FLORIDA
'ayor :
, Vice Umr
-. ~ / ~.~ ,.'
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