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ORDINANCE NO. 4115
AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA,
AMENDING CHAPTER 66, PENSIONS AND RETIREMENT,
ARTICLE II, POLICE OFFICERS' RETIREMENT SYSTEM;
AMENDING SECTION 66-37, OPTIONAL FORMS OF
BENEFITS; AMENDING SECTION 66-39, MISCELLANEOUS
PROVISIONS; PROVIDING FOR SEVERABILITY OF
PROVISIONS; PROVIDING FOR CODIFICATION;
REPEALING ALL ORDINANCES IN CONFLICT HEREWITH
AND PROVIDING AN EFFECTIVE DATE.
BE IT ENACTED BY THE PEOPLE OF THE CITY OF SANFORD, FLORIDA:
SECTION 1: That Chapter 66, Pensions and Retirement, Article II, of the City Code
of the City of Sanford entitled Police Officers' Retirement System, is hereby amended by
amending Section 66-37, Optional forms of benefits, subsection (1), to read as follows:
(1 ) In lieu of the amount and form of retirement income payable in the event of
normal or early retirement as specified herein, a member, upon written request to the
board, may elect to receive a retirement income or benefit of equivalent actuarial value
payable in accordance with one of the following options:
(a) A retirement income of a monthly amount payable to the retiree for his
lifetime only.
(b) A retirement income of a modified monthly amount, payable to the retiree
during the lifetime of the retiree and following the death of the retiree, 100
percent, 75 percent, 66 2/3 percent or 50 percent of such monthly amount
payable to a joint pensioner for his lifetime. Except where the retiree's
joint pensioner is his spouse, the payments to the joint pensioner as a
percentage of the payments to the retiree shall not exceed the applicable
percentage provided for in the applicable table in the Treasury
Regulations.
Ordinance No. 4115
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(c) If a member retires prior to the time at which social security benefits are
payable, he may elect to receive an increased retirement benefit until such
time as social security benefits shall be assumed to commence and a
reduced benefit thereafter in order to provide, to as great an extent as
possible, a more level retirement allowance during the entire period of
retirement. The amounts payable shall be as recommended by the
actuaries for the system, based upon the social security law in effect at
the time of the member's retirement.
@ For Members who do not participate in the DROP pursuant to Section 66-46,
the Member mav elect a percentaoe of benefit in a lump sum as follows:
.1. 10 percent of the total value of the benefit paid as a lump sum with
the remainino 90 percent paid under the normal form or as per (a), (b)
or (c) above.
2. 15 percent of the total value of the benefit paid as a lump sum with
the remainino 85 percent paid under the normal form or as per (a),
(b) or (c) above.
3. 20 percent of the total value of the benefit paid as a lump sum with
the remainino 80 percent paid under the normal form or as per (a), (b)
or (c) above.
~ 25 percent of the total value of the benefit paid as a lump sum with
the remainino 75 percent paid under the normal form or as per (a),
(b) or (c) above.
SECTION 2: That Chapter 66, Pensions and Retirement, Article II, ofthe City Code
of the City of Sanford entitled Police Officers' Retirement System, is hereby amended by
amending Section 66-39, Miscellaneous provisions, subsection (8), to read as follows:
Ordinance No. 4115
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(8) Retiree directed payments. The board may, upon written request by a retiree
or by a dependent, when authorized by a retiree or the retiree's beneficiary, authorize the
system to withhold from the monthly retirement payment those funds that are necessary to
pay for the benefits being received through the City, to pay the certified bargaining agent of
the City, to make payment to insurance companies for insurance premiums if permitted bv
F.S. ch 185 and to make any payments for child support or alimony.
SECTION 3: All Ordinances or parts of Ordinances in conflict herewith be and the
same are hereby repealed.
SECTION 4: Specific authority is hereby granted to codify and incorporate this
Ordinance in the existing Code of Ordinances of the City of Sanford.
SECTION 5: If any section, subsection, sentence, clause, phrase ofthis ordinance,
or the particular application thereof shall be held invalid by any court, administrative
agency, or other body with appropriate jurisdiction, the remaining section, subsection,
sentences, clauses, or phrases under application shall not be affected thereby.
SECTION 6: That this Ordinance shall become effective upon adoption.
PASSED AND ADOPTED this 23rd day of June, A.D. 2008.
CITY COMMISSION OF THE CITY OF
SANFORD, FLORIDA
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ATTEST:
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ANET R. DOUGHE ,CITY LERK
Ordinance No. 4115
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CERTIFICATE
I, Janet R. Dougherty, City Clerk of the City of Sanford, Florida, do hereby certify
that a true and correct copy of the foregoing Ordinance No. 4115, PASSED AND
ADOPTED by the City Commission of the City of Sanford, Florida, on the 23rd day of June,
2008, was posted at the front door of the City Hall in the City of Sanford, Florida, on the
25th day of June, 2008.
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As th City Clerk of the
Florida