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O81-28AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BOYN~0N BEACH, FLORIDA, AMENDING CHAPTER 18 "PENSION R5~I~" At~ICLE III, "PENSIONS FOR POLICE OFFICERS"' BY ENACTING SECTION 18-169 "NORMAL RETI~ DATE" OF THE. BOYNTON BEACH CITY CODE, 1981 CODIFICATION, BY PROVIDING NOT- WITHSTANDING THE PROVISIONS OF CHAPTER 185 THAT ALL MEMBERS OF THE PENSION PLAN ON ACTIVE DUTY AS OF THE ADOPTION DATE OF THIS ORDINANCE SHALL BE ELIGIBLE TO RETIRE ASTER 20 YEARS OF SERVICE NOTWITHSTANDING ~THEIR AGE; BY ENACITNG SECTION 18-170 PAYRD~ DEDUCTIONS OF THE BOYNTON BEACH CITY CODE, 1981 CODIFICATION TO iPROVIDE FOR A IEDUCTION OF 7% FROM EACH INSTAI.T~T OF SALARY AS A CDNTRIB~ON TOWARDS THE PENSION PROVIDING FOR REPEALING CLAUSE: ~CLAUSE; PROVIDING AN DmZ; PROVIDING FOR A m0m TO CODI DFOR onmR WHEREAS, the City of Boynton Beach, Florida, has an independent Police Pension Fund created in conjunction with Chapter 185 of the Florida Statutes; WHEREAS, Florida Statutes 185.35 provides flexibility in determining a retirement age and employee contribution; and WHEREAS, the Board of Trustees of the Police Pension Fund feel that it would be in the best interest of the City to change the normal retirement age and employee contributions, NC~, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BOYNTON BEACH, FLORIDA, AS FOLIf~S: Section 1. That Chapter 18 "Pensions and Retirement" Articie III "Pensions for Police Officers" of the Boynton Beach City Oode, 1981 codifica- is hereby amended by the enactment of Section 18-169 "Normal Retirement Date" which sb~ll' read as follows: Section 18-165 Normal Retirement Date. The normal retirement date of each police officer will be the first day of the month conciding with, or next following, the date on which he has attained and completed 20 years of service. There is no-age requirement for normal retirement. Section~ _~2' That (/n~pter 18 "Pensions and Retirement" Article III "Pensions for Police Officers" of the Boynton Beach City Code, 1981 codifica- is hereby amended by the enactment of Section 18-170 wP~ich shall read as follows: CALDWELL, PACETTI, BARROW ~ SALISBURY. PALM BEACH. FLORIDA Section 18-170 Payroll Deductions. The City of Boynton .Beach shall deduct from all police officers entitled to the benefits of this Article, seven percent (7%) from each install- ment of salary of each police officer so long as such police officer shall hold office or be employed. Said amount shall be so deducted and be deposited to the Boynton Beach Police Pension Fund. Section 3. That all ordinances or parts of ordinances in conflict herewith are hereby repealed. Section 4. That should any section or provision of this ordinance or any portion 'hereof be declared by a court of competent jurisdiction to be invalid, such decision shall not affect the remainder of this Ordinmnce. This Ordinance shall become effective ~ately upon Section 5. its passage. Sect/on 6. Authority is hereby granted to codify this Ordinance. FIRSTREADINGthis~dayof ~~. 1981. SECOND READING AND FINAL PASSAGE this~_._day of~_~ _ _ 1981. CITY 'OF BOYNTON BEACH, FLORIDA. (Corp. Seal) -2- CALDWELL, PAC-ETTL ~BAR,ROW & SALI:$BUR¥. PALM BEACH. FLORIDA