O96-36ORDINANCE NO. O96-,,~
AN ORDINANCE OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, AMENDING
CHAPTER 18. PENSION PLAN BY AMENDING
ARTICLE I!, BY CREATING A NEW SUBSECTION 18.64,
(GENERAL EMPLOYEE) PROVIDING FOR
COMPENSATION LIMITATIONS FOR "ELIGIBLE
EMPLOYEES"; PROVIDING FOR CONFLICTS,
SEVERABILITY, CODIFICATION AND AN EFFECTIVE
DATE.
WHEREAS, the City Commission of the City of Boynton Beach and the General
Employee Pension Board have decided to present certain amendments to Chapter 18.
Pensions and Retirement to the City Commission, provide for compensation limitations
for "eligible employees";
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. That Chapter 18. Article II, is hereby amended by creating a new
subsection 18.64 as follows:
Sec. 18-64. Limitation on compensation.
Compensation in excess of the limitations set
forth in Section 401(a)(17) of the Internal
Revenue Code shall be disregarded. The
limitation on compensation for "eligible
employees" shall not be less than the amount
which was allowed to be taken into account
under the Plan as in effect on July 1, 1993.
For this purpose, an "eligible employee" is an
individual who was a member of the Pension
Plan before the first plan year beginning after
September 30, 1996.
Section 2. All of the other provisions of Chapter 18. not herein specifically
amended shall remain in full force and effect as previously enacted.
Section 3 CONFLICTS. All laws and ordinances applying to the City of
Boynton Beach in conflict with any provisions of this ordinance are hereby repealed.
Section 4 SEVERABILITY. 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. CODIFICATION. Authority is hereby given to codify this
Ordinance.
Section6. EFFECTIVE DATE. This Ordinance shall become effective
immediately upon passage.
FIRST READING this ,,¢ day of ~ 1996.
SECOND, FINAL READING AND PASSAGE this /~' day of ~Y'
996.
ATTEST:
Cit~/Clerk -----
CITY OF BOYNTON BEACH, FLORIDA
~"ViceM~;or ../ // ~/~
Commissioner
c~~ ~
Comm~ioner