O74-03ORDINANCE NO. 7~-
AN ORDINANCE OF THE CITY OF BOYNTON BEACH, FLORIDA, AMEND-
lNG :SECTION 21-50 OF CHAPTER' 2t OF THE CODIFIED ORDINANCES
OF SAID CITY PERTAINING TO THE EMPLOYEES' PENSION PLAN BY
CHANGING THE EARLY RETIREMENT AGE FROM 60 YEAP~S TO 55 YEARS;
PROVIDING FOR AUTHORIT~Y _TO CODI~',. SAVINGS CLAUSE, REPEAL-
I NG PROVI S IONS AND FOR OTHER PURPOSES.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CiTY OF BOYNTON BEACH, FLORIDA:
ect~on I. That Section 21-50 of Chapter 21 of the Codified Ordinances
of the City of Boynton Beach, Florida, is hereby amended to read as follows:
"Section 21-50. Retirement prior to normal retirement date.
An ~loyee who hms 'twenty (20) years of credited service and
has attai:~d his fl?fy fifth (55th) birthday may make written
application for early retirement to the city manager. With approval
of the ciltyma~ager the employee may retire on the first day ofany
month fol:l~wing~"o~ coinciding with, his fift¥-fi~th (~Sth) birth-
day. In such event; he shall be entitled to and shall be paid an
annuity equal in amount to the annuity computed on the basis of
normal retirement, except that the amount so computed shall be
actuarial'ly reduced for the earlier cc~mencement of payments."
Sectio~ 2:. 'Authority to Codify: Specific authority is hereby granted to
codify and incorporate this Ordinance in the City's existing Code.
Section 3: Separability: Each of the provisions of this Ordinance are
separable, including word, clause, phrase or sentence, and if any portion
thereof shall be declared invalid, the remaining portion shall not be affected
but shall Femain in fu~I force and effect.
Section 4: RepeatinR Provisions: All ordinances or parts of ordinances
in conflict herewith are hereby repealed.
First reading this .~. day of~, A;D~ 197~.
Second~ final reading and passage this ]~ day of
A.D., 1974.
CITY OF BOYNTON BEACH, FLORIDA
} ~ Vice ~yor
Couneilman
~uncl [mn
ATTEST:
City Clerk