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

reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. In the event that there be value remaining after the full apportionment specified in the preceding paragraphs, such excess shall be returned to the city. The committee shall distribute in accordance with the manner of distribution selected by them, the amounts apportioned under the preceding paragraphs. Nothing in this section shall be construed to diminish or modify the right of the city to curtail, terminate or modify the benefits or provisions of this fund. In addi tion, nothing in this section shall be construed to impose a mandatory proration of benefits because of annual fluctuations in contributions or sums disbursed from Pa~ e 30 this fund unless such fluctuations, in the opinion of the commi ttee of the whole, shall meet the criteria or the conditions hereinabove described. Sec. 17- 20. 1. Appeal review board; membership; duties of board; authority. There shall be an appeal review board to hear appeals involving decisions affecting entrance into the plan or claims for benefits under the plan. The board shall be composed of the chairman of the pension advisory committee, the department head of the participant or the applicant, the senior council member except for the mayor, the plan administrator and the city manager. The appeal review board shall be convened at the request of the plan administrator in the following situations: a) Persons whose applications for membership in the retirement plan are not approved after a review by the pension advisory committee may appeal the decision of the committee. Only those applicants who become employees of the city shall have the right to appeal advisory committee action. b) A participant whose application for disability retirement has not been approved may appeal the action of the physician jury system and the pension advisory committee action. c) A participant whose disability retirement income is terminated by the plan administrator after a review by the pension advisory committee, may appeal the decision to the review board. Pa~ e 31  ATTACHMENT B 1.. ARTICLE III. FIREMEN' S RETIREMENT FUND Sec. 17. 21. Creation of fund. There is hereby created a pension and retirement fund for certain persons who are in the regular and permanent employ of the city, with 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- 22. Definitions. For 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 '' Fi~ emen' s Retirement Fund" known previous to December 11, 1979 as the " Firemen' s Pension and Retirement Fund Program", as it may be amended from time to time and which has been established by the City of Fort Walton Beach, Florida for the purpose of providing retirement benefits for firemen employees of this city who are retired in accordance with the provisions of this article. BOARD OF TRUSTEES. The board of trustees of this plan shall consist' of ,the mayor, the chief of the fire department, two firemen of the city, to be elected by a majority of the firemen whose names appear on the rolls as members of the fire department of the city and one legal resident of the city, to be appointed by the ci ty council. 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. GENERAL EMPLOYEE. Whenever the word general 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. FUND. Whenever the word fund shall appear in this article it may be considered to be synonymous with plan as herein defined. PaRe 32  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 otf:1er service personnel. EMPLOYEE. Synonymous with fireman when used in this article. FIREMAN. When employee or fireman is used in this article it shall mean a duly employed uniformed fireman employed by the city whose duty it is to extinguish fires and to protect life and property therefrom as a member of the city fire department. Such definition shall encompass any person included in the definition of fireman under Section 175. 032, Chapter i75, Florida Statutes and shall exclude, also, such persons as are described in the above cited Section 175. 032. Additionally excluded shall be clerks, secretaries, maintenance, janitorial and all other service personnel as well as general employees and policemen as defined in this article. DATE OF EMPLOYMENT. This shall mean 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 date of employment if and employee subsequently meets the eligibility requirements for entry into the plan. DA TE OF 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 a fireman 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 years out of the last fifteen ( 15) years of employment prior to retirement . MILITARY SERVICE. Military service shall mean active military service in any of the military forces of the United States, excluding military 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 Pa~ e 33 r , I 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. BENEFICIARY. The beneficiary is that person ated by the employee to desigJ') receive any benefits due to the death of the employee prior to retirement or after retirement under the normal retirement benefit or period certain options. NORMAL RETIREMENT. Normal retirement is retirement of who an employee has reached the normal retirement age with at least the minimum requirement of credited service. NORlv\AL RETIREMENT AGE. Normal "retirement age shall be age sixty ( 60) or, if an employee shall have become a participant at an age greater than fifty ( 50) but less than age sixty ( 60), the normal retirement age shall be that date when he has ten ( 10) years of credited service. NORMAL RETIREMENT BENEFIT. The normal retirement benefit shall be a monthly life income with 120 monthly payments certain ( guaranteed) as described in section 17- 29 of this article. EARLY RETIREMENT. Early retirement shall be retirement at any time coincident with or following the attainment of age 50 and the completion of ten ( 10) years of credited service. DEFERRED RETIREMENT. Deferred retirement is retirement at any date after an employee shall have met the requirements for