Loading...
O96-35ORDINANCE NO. O96-.~-.~ AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA, AMENDING CHAPTER 1.8. PENSION PLAN BY AMENDING ARTICLE II, BY CREATING A NEW SUBSECTION 18.190, (FIRE) 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 Boynton Beach Municipal Firefighter's Pension Trust Fund 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 18.190 as follows: Sec. 18-190. Limitation on compensation. Compensation in excess of the limitations set forth in Section 401(a)(171 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 be,qinnin.q 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laws and ordinances applying to the City of Boynton Beach in conflict with any provisions of this ordinance are hereby repealed.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. Section 6. EFFECTIVE DATE. immediately upon passage. This Ordinance shall become effective FIRST READING this ,~ day of~e, 1996. SECOND, FINAL READING AND PASSAGE this /~' day of 996. ATTEST: CityS~Clerk '--- IV~yor ..~ 4f' Vice M. ay.~ ,/~/1 ..~' ~ Com/~dissioner