O98-15 ORDINANCE NO. 098-/~
AN ORDINANCE OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AMENDING CHAPTER 18, DIVISION 4.
RETIREMENT AND RETIREMENT BENEFITS,
SECTION 18-111, NORMAL RETIREMENT, BY
CREATING A NEW SUBSECTION (4) ENTITLED
~ ELECTIVE BENEFITS" ; PROVIDING FOR
CONFLICTS, SEVERABILITY, CODIFICATION
AND AN EFFECTIVE DATE.
WHEREAS, an employee survey was conducted regarding
elective benefits for employees, which benefits would be
funded solely by employees and would not result in any
additional cost to the City; and
WHEREAS, an actuarial study was submitted to the
General Employees Pension Board regarding options that the
employees can elect to improve some of the benefits of their
plan; and
WHEREAS, the City' Commission of the City of Boynton
Beach has determined that it is in the best interests of the
public to amend Chapter 18, Division 4. Retirement and
Retirement Benefits, Section 18-111, Normal Retirement, by
creating a new subsection (4) entitled ~ Elective
Benefits" ;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. That Chapter 18, Division 4. Retirement
and Retirement Benefits, Section 18-111, Normal Retirement,
is hereby amended by creating a new subsection (4) entitled
~ Elective Benefits" as follows:
Sec. 18-111. Normal Retirement.
An employee who retires on or after January 1,
(a)
1997...
(b)
(c)
An employee who retires prior to January 1, 1997...
In the event of normal retirement...
(1) An employee who retires ...
(2) An employee who retires...
(3) ~ Final Average Monthly Compensation" ....
(4) Elective Benefits.
The City may, from time to time, offer elective
benefits to employees, which benefits would be
funded solely by employees contributions and would
not result in any additional cost to the City.
Section 2. All ordinances or parts of ordinances in
conflict herewith be and the same are hereby repealed.
Section 3. Should any section or proviszon of this
ordinance or portion hereof, any paragraph, sentence or word
be declared by a court of competent jurisdiction to be
invalid, such decision shall not affect the remainder of
this ordinance.
Section 4.
Authority ms hereby granted to codify
said ordinance.
Section 5.
This ordinance shall become effective
immediately upon passage.
FIRST READING this ,~ day of ///~ , 1998.
SECOND, FINAL READING AND PASSAGE this
, 1998.
day of
CITY OF BOYNTON BEACH, FLORIDA
Mayor
Vice
for Pro Tem
Co~issioner -
Commissioner
ATTEST: