O01-63No.
AN ORDINANCE OF THE CITY OF BOYNTON BEACH,
FLORIDA, AMENDING THE FIREFIGHTERS'
RETIREMENT PLAN TO PROVIDE FOR OPTIONAL
TRANSFER OF ACCUMULATED LEAVE BALANCES UPON
RETIREMENT; PROVIDING AN EFFECTIVE DATE;
PROVIDING A CONFLICTS CLAUSE; PROVIDING A
REPEALER.
WHEREAS, the City of Boynton Beach Florida,
retiremen5 plan and trust fund for firefighters;
WHEREAS, The Board of Trustees of the
presently has a
Boynton Beach
Firefighters' Retirement Plan desires to amend the City Code to
provide for optional transfer of accumulated leave balances inso
the retirement plan;
WHEREAS, the ordinance has been reviewed by the actuary for
the Boynton Beach Firefighters' Retirement Plan and a copy of the
impact statement has been filed with the Division of Retirement in
Tallahassee; and
WHEREAS, the City Commisszon has determined ~his amendment
will benefit the citizens of the City of Boynton Beach;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH. FLORIDA:
Section 1: Section 18- is hereby amended to read as
follows:
Transfer of Accumulated Leav~
Section 18-_ ..
(a)_ Members eliqible no receive accumulated sick leave,
accumulaned vacation leave or any other accumulated leavq
~ayable upon separation may elect, non later than thq
Page 1 of %
(bi
December 31s= of the calendar year prior to the year o~
retirement or entry into the DROP, to have the leave
transferred 5o ~he Plan. For Qurposes of this section,
~he term ~separanion" shall mean,termlnati°n of service
as a firefiqhter with the City. Members on whose behalf
leave has been transferred may elect one of the followlnq
distribution options within thirty (30) days of
~eparatlon. Members failinq to elect a distributio~
~ption within thirty (30) days of separation will bq
deemed to have elected option i below:
Receive a lump sum equal to the nransferred leave
balance, o~
(2) Transfer the entire amounn of the transferred leave
balance directly to any eliqible re5irement plan, or
13) Purchase additional service credit as may permitted
by the Code. If the leave balance exceeds the cost
of Ehe service credit purchased, the balance shall
be paid to the member in a lump sum, or
Transfer the entire amounn of nhe transferred leave
balance into the member's DROP accounn.
Members who fail 5o elect a transfer non later than nhe
December 31s~ of the calendar year prior no the year of
~enirement or entry znto the DROP will receive paymenn in
a lump sum at nime of separation with all atnendan5 tax
conseGuences.
Page 2 of 4
kc) If a member on whose behalf the Cit makes a transferred
~ retirement or other
~ction. as ~rovided
or afuer making an election bum before any distribution
ms made, uhe election option shall be void. In such
event, any person who would have received a death benefit
had the member died in service immediately prior to the
date of retirement or other separation, shall be entitled
to receive an amount equal to the transferred leave
balance in a lump sum. In the case of a surviving spouse
or former spouse, an election may be made uo uransfer thq
leave balance to an eligible retirement plan in lieu of.
~he lump sum payment. Failure 5o make such an election
by the surviving spouse or former spouse within sixty
(60) days of the member's deauh, will be deemed an
election 5o receive a lump sum payment.
(d). The Board, by rule, shall have the aumhorit¥ mo enact.
administrauive rules for purposes of administering the
provisions of this Secuzon, consisuent with the Federal
tax laws in effect on the dame of uransfer. No such rule
shall conflict with ~he provisions of this secmion.
Members electinq to enmer into the DROP shall be require~
to preserve a balance of one hundred and twenty
hours of sick leave and one hundred and twenty (120)
~ours of vacation leave at the time of entry into uhq
DROP.
Page 3 of 4
~f). _The va_lue of the leave transferred shall be determined in
accordance with applicable city personnel ~ o__~r
collecnive bar~eQtS~
Section ~: Enactmen5 of nhis ordinance is contingent upon
waiver by nhe IAFF of its right to bargain over these man~ers.
Section 3: Than all Ordinances or par~s of ordinances in
conflict herewith be and the same are hereby repealed.
Secnion 4: Should any secnion or provision of this
ordinance or portion hereof, any paragraph, any sentence, or word
be declared by a court of competent jurisdiction to be invalid,
such decision shall non affect the remainder of this ordinance.
Section 5: Authority is hereby granted no codify this
ordinance-
Secnion 6:
This Crdinance
shall become effective
immediately upon passage.
ADOPTED on first read this_
ADOPTED on second read this
day of ~ , 2001.
. day of ~5%~_, 2001.