Fort Walton Beach Ordinance — 801 Restate General Emp Plan — reading text

it City of Fort Walton Beach HOME OF THE c; Y~ g~ @~ 801 AN ORDINANCE AMENDING CHAPTER 17 OF THE CITY OF FORT WALTON BEACH CODE OF ORDINANCES IN REFERENCE TO PENSIONS AND RETIREMENT, PROVIDING THE EFFECTIVE DATE HEREOF. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: SECTION I. That Article II, Sec. 17- 11, 17- 11. 1, 17- 11. 2, 17- 12, 17- 12. 1, 17- 13, 17- 14, 17- 15, 17- 15. 1, 17- 15. 2, 17- 16. 2, 17- 16. 3, 17- 17 & 17- 20. 1 of the Code of t' Ordinances be amended to read as follows: ( SEE ATTACHMENT A) SECTION II. That Article III, Sec. 17- 21, 17- 22, 17- 23, 17- 24, 17- 25, 17- 28, 17- 28. 1, 17- 28. 2, 17- 29. 1, 17- 31, 17- 31. 1, 17- 32 & 17- 37 of the Code of 17- 27, be amended to read follows: ( SEE ATTACHMENT B) Ordinances as SECTION I I I. This ordinance shall take effect immediately upon approval by Council and signature by the Mayor. ADOPTED: ' 71~ :< 1;Ir~( J ATTEST: MAYOR: ~ 1- 2(j~ / iJolfJ/ cl4 ()~ The form and legal sufficiency of the foregoing has been reviewed and approved by the City Attorney. DI.8P08ITON A>a'te/  ATTAC ~ NT A ol ARTICLE II. GENERAL EMPLOYEES' RETIREMENT AJND Sec. 17 - 11. Creation of fund. There is hereby created a pension and retirement fund for persons who are in the regular and permanent employ of the ci ty, wi th exceptions and under the provisions as shall hereinafter be defined. The effective date of this fund shall be January 1, 1966 including any subsequent amendments, consolidation or restatement of this article and is intended to provide benefits for participating employees, qualified under the provisions of this article, who shall after a number of years be retired or who become incapacitated through injury or ill health. Sec. 17 - 11. 1 Definitions. For the purposes of this article, the following definitions shall apply: CITY. The use of the word city throughout this article means the City of Fort Walton Beach, Florida. PLAN. Where the word plan is. used in this article it shall mean the ",General Employees' Retirement Fund", known previous to December 11, 1979 as " General Employees' Pension and Retirement Fund Program", as it may be amended from time to time and which has been established by the city for the purpose of providing retirement benefits for general municipal employees of the city who are retired in accordance with the provisions of this article. TRUSTEES. The trustees shall be the ci ty council and any successor ci ty council as it shall change from time to time through election of new members. COMMITTEE. The committee shall be the pension advisory committee who shall be assigned duties and responsibilities under the appropriate section of this article. TREASURER. The finance director shall serve as treasurer of this fund for the board of trustees. ADMINISTRATOR. The administrator shall be the finance director, who shall bear responsibilities and hold authority as provided for under this article. EMPLOYEE. Whenever the word employee is used in this article it shall mean a general municipal employee who is regularly employed by the city and on the active employment rolls who shall meet the minimum service requirements as outlined and defined under future credited service in this section. Policemen and firemen or elected officials of the city are not considered to be employees for the purpose of this plan. Page 3  FUND. Whenever the word fund shall appear in this article it may be considered to be synonymous to plan as hereinbefore defined. POLICEMAN. Reference to policeman shall mean a sworn officer of the city police department who is regularly engaged in investigative, enforcement, traffic control and administrative duties, but excluding clerks, secretaries, police reserves, school crossing guards, maintenance, janitorial and all other service personnel. FIREMAN. When fireman is used in this article it shall mean a uniformed member of the city fire department who is regularly engaged in functions of fire prevention and extinguishment, training and administrative duties but excluding clerks, secretaries, maintenance, janitorial and ah other service personnel. DATE OF EMPLOYMENT. This date shall be the actual calendar date on which an employee, under the definitions of this article, is entered on the active employment rolls of the city. ENTRY DATE. The entry date shall be the earlier of January 1st or July 1st on which an employee meets the eligibility requirements for entry into the plan. DATE CF PENSION. This date shall be the actual month, day and year on which an employee enters into participation in the plan. COMPENSATION. Compensation shall mean the basic monthly earnings of an employee expressed as a monthly salary or wage calculated on the basic rate of pay and exclusive of all overtime pay, bonuses, commissions and extra or additional remuneration in any form. FINAL A VERAGE MONTHLY EARNINGS. Final average monthly earnings means an employee' s monthly earnings as previously defined under compensation, averaged over the five ( 5) highest consecutive years of the last ten ( 10) years of employment. MILITARY SERVICE. Mili tary service shall mean active military service in any of the military forces of the United States, excluding mili tary reserve or national guard service unless called to full time active service. RETIREE. A retiree is any person, formerly an employee, who has retired under this plan and who is receiving or has received retirement benefits pursuant to the provisions of this plan. CONTINGENT ANNUITANT. The contingent annuitant is that person designated by an employee under this plan to receive a life income in the event of the employee' s death after retirement under the joint life and survivor alternate options. Pag;e 4  BENEFICIARY. The beneficiary is that person designated br the employee to receive any benefits due to the death of the employee prior to retirement or after retirement under the normal retirement benefit or period certain alternate options. NORMAL RETIREMENT. Normal retirement is retirem~nt of an employee who has reached the normal retirement age with at least the minimum requirement of credited service. NORMAL RETIREMENT AGE. Normal retirement age shall be age sixty- two ( 62) or, if an employee shall have become a participant at an age greater than fifty ( 52) but less than age sixty ( 60), the normal retirement age shall be that date when he has ten ( 0) years of credited service. NORMAL RETIREMENT BENEFIT. The normal retirement benefit shall be a monthly life income terminating at the death of the retiree. EARLY RETIREMENT. Early retirement shall be retirement at any time coincident with or following the attainment of age fifty- two ( 52) and the completion of ten ( 10) years of credited service. DEFERRED RETIREMENT. Deferred retirement is retirement at any da.~ e after an employee shall have met the requirements for normal retirement with benefits