HomeMy WebLinkAbout1688 ORDINANCE NO. 1688
AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA,
ENACTING INTO LAW AN AMENDED PENSION PLAN FOR
POLICE OFFICERS; PROVIDING FOR AN INCREASED
BENEFIT RATE; PROVIDING FOR IMPROVING DEATH
AND DISABILITY BENEFITS; PROVIDING FOR A
LOWER RETIREMENT AGE; PROVIDING A SAVINGS
CLAUSE; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH; AND, PROVIDING AN EFFECTIVE DATE
HEREOF. "
WHEREAS, the City 0f Sanford, Florida, Police Officers are
presently provided pension and certain other benefits under
Chapter 185, Florida Statutes, and
WHEREAS, the City Commission desires to provide certain
increased retirement benefits for the Police Officers of the
City,
NOW THEREFORE, BE IT ENACTED BY THE CITY OF SANFORD,
FLORIDA, AS FOLLOWS:
Section 1: That this Ordinance Number 1688 be' adopted to
read as follows:
DEFINITIONS. As Used herein, unless otherwise defined or
required by the context, the following words and phrases ~hall
have the meaning indicated:
1. City means City of Sanford, Florida.
2. Agreement means this written instrument setting forth
the provisions of the Retirement System.
3. System means the City of Sanford Police Officers'
Retirement System as contained herein and all amendment~ thereto.
4. Fund means the Trust Fund established herein as part of
the System.
5. Board means the Board of Trustees, which shall
administer and manage the System herein.provided and serve as
Trustees of the Fund.
6. Employee sh~ll mean all actively employed employees of
the City, including those in their initial probationary
employment period, classified as full-time sworn Police Officers,
but. excluding any civilian members of the Police Department and
any temporary or contract employees.
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7. Member means an actively employed Employee who fulfills
the prescribed participation requirements and all terminated
employees who are receiving or entitled to receive benefits
hereunder.
8. Credited Service means the total number of years and
completed months of service with the City as an Employee during
which Member Contributions have been made to the System. No
credit will be given toward Credited Service for service for
which the Employee has received a refund of Accumulated
Contributions.
9. Earnings means base pay.
10. Average Monthly Earnings means 1/12th of the arithmetic
average of annual Earnings (base pay) for the five (5) highest
~ears of service of the ten (10) years immediately preceeding
the retirement or termination of a Member.
ll. Beneficiary means the person or persons entitled to
receive benefits hereunder at the death of a Member and filed
with the Board. If no such designation is in effect at the time
of death of the Member, or if no person so designated is living
at that time, the Beneficiary shall be the estate of the Member.
12. Accumulated Contributions means a Member's own
contributions to the Fund, assessed at the rate of 5% of
Earnings, including the amount of such employee contributions
which were assumed by the City effective October 1, 197~.
13. Spouse means the lawful wife or husband of a Member at
the time of pre-retirement death or retirement.
14. Effective Date means January 1, 1984.
Section 2: MEMBERSHIP
1. Conditions and Eligibility
All Members of this System on the Effective Dateshall
continue participating hereunder. All future new Employees,
shall become Members as a condition of employment.
2. Application for Membership
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Each eligible Employee shall complete an application form
covering the following items, as well as such other items as may
be prescribed by the Board:
A. Acceptance of the terms and conditions of the
Retirement System, and
B. Designation of a Beneficiary and Contingent
Beneficiaries.
3. Change i~ Designation of Beneficiary
A Member may from time to time change his designated
Beneficiary by written notice to the Board upon forms provided by
the Board. Upon such change the rights of all previously
designated Beneficiaries to receive any benefits under the System
shall cease.
Section 3: BENEFIT AMOUNTS AND ELIGIBILITY
1. Retirement Dates
A. Normal Retirement - a Member's Normal Retir~ement Date
shall be the first day of the month coincident with or next
following the earlier of the attainment' of age fifty-five (55) or
the completion of twenty-five (25) years of Credited Servfce.
Member may retire on his Normal Retirement Date or on the first
day of any month thereafter. Each Member shall become 100%
vested in his accrued benefit on his Normal Retirement Date.
B. Early Retirement A Member may retire on his Early
Retirement Date which shall be the first day of any month
coincident with or next following both the attainment of age
forty-five (45) and the completion of ten (10) years of Credited
Service.
C. Delayed Retirement - An employee may remain on active
employment beyond the Normal Retirement .Date in accordance with
the City Policy.
The Delayed Retirement Date shall be the first day of the
month coincident with, or next following, actual retirement.
Nothing herein contained shall be construed to give any Employee
the.right to be retained in the employ of the City or to
interfere with the right of the City to terminate the employment
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Of any Employee at any time, to have any right or interest in the
Fund other than as is herein provided.
2. Retirement Benefit
A. Normal or Delayed - a Member retiring hereunder on or
after his Normal Retirement Date shall receive a monthly benefit
which shall commence on his Retirement Date and be continued
thereafter during his lifetime, ceasing upon death. If, after
payment commences, the Member should become deceased before one
hundred twenty (120) monthly payments have been made, payment
will then continue to the Beneficiary until such one hundred
twenty (120) payments have been made in total, at which time
benefits shall cease. The monthly retirement benefit shall equal
two and one-quarter percert (2¼~) of Average Monthly Earnings,
for each year of Credited Service.
B. Early - A Member retiring hereunder on his Early
Retirement Date may receive eit'her a deferred or an immediate
monthly retirement benefit payable for life, but with one hundred
twenty (120)' monthly payments guaranteed in any event, as
follows:
i. A deferred monthly retirement benefit which shall
commence on what would have been his Normal Retirement Date had
he remainedas an Employee and shall be continued on the first
day of each month thereafter. The amount of each such deferred
monthly retirement benefit shall be determined in the same manner
as for retirement at his normal Retirement Date except that
Credited Service and Average Monthly Earnings shall be determined
as of his Early Retirement Date~' or,
ii. An immediate monthly retirement benefit which shall
commence on his Early Retirement Date a~d shall be continued on
the first day of each month thereafter. The benefit payable
shall be as determined in sub-paragraph (1) above, reduced by
one-fifteenth (1/15th) for each of the first 5 years, one-
thirtieth (1/30th) for each of the next 5 years by which the
commencement of benefits precedes the Normal Retirement Date.
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C. Limitation of Ben~filtS The initial monthly Normal and
Delayed retirement benefit determined in accordance with paragraph
2.a., above, and the amount of the initial Early retirement
benefit determined prior to the reduction required pursuant to
subparagraph 2.B. ii. shall not exceed one hundred percent (100%)
of such Member's Average Monthly Earings.
3. Disability
A. Non-Service Incurred - Any Member may be retired upon
approval of the Board, for disability if he is found by the City
upon examination to be mentally, physically or psychologically
incapacitated so as to be wholly unable to properly perform his
duties as a Police Officer of the City of Sanford and is not
eligible for City-provided benefits for disability which occurs
in the line of duty.
B. Exclusions - A Member will be considered totally
disabled if, in the opinion of the Board, he is wholly prevented
from rendering useful and efficient service as a Police Officer;
and a Member will be considered permanently disabled if, in the
opinion of the Board of Trustees, such Member is likely to remain
so disabled continuously and permanently from a cause other than
is specified below:
(a) Excessive and habitual use by the Member of drugs,
intoxicants or narcotics;
(b) Injury or disease sustained by the Member while
willfully and illegally participating in fights, riots,
civil insurrections, or while committing a crime;
(c) Injury or disease sustained by the Member while
serving in any armed forces;
(d) Injury ordisease sustained by the Member after his
employment has terminated.
(e) Self-inflicted disability, unless approved by the
Board.
C. Determination of Disability No Member shall be
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permitted to retire under the provisions of this section until
examined by a duly qualified physician or surgeon, to be selected
by the Board for that purpose, and is found to be disabled in the
degree and in the manner specified in this section. Any Member
retiring under this section shall be examined periodically by a
duly qualified physician or surgeon or board of physicians and
surgeons to be.selected by the Board for that purpose, to
determine if such disability has ceased to exist.
D. Benefit Amount The benefit payable to a Member who
retires with a total and permanent disability shall be an amount
equal to forty percent (40%) of his or her rate of regular base
salary in effect as of the date of disability.
E. Payment of Benefits - The monthly retirement income to
which a Member is entitled in the event of his disability
retirement will be payable on the first day of each month. The
first payment will be made on the first day of the month
following the date the Board approved the payment of such
retirement income. The last payment will be, if the Member
recovers from the disability prior to his Normal Retirement
Date, the payment due next preceding the date of such recovery,
or, if the Member dies without recovering from his disability,
the payment due next preceding his death or the one hundred
twentieth monthly payment, whichever is later. Any monthly
retirement income payments due after the death of a disabled
Member shall be paid to the designated Beneficiary (or
Beneficiaries).
F. Recovery - If the Board finds that a Member who is
receiving a disability retirement income is, at any time prior to
his Normal Retirement Date, no longer disabled, as provided
herein, the Board shall direct that the disability retirement
income be discontinued. Recovery from disability as used herein
shall' mean the ability of the Member to render useful and
efficient service as an Employee. If the Member recovers from
disability and re-enters the service as an Employee, his service
beginning with the first month for which he received a disability
retirement income payment and ending with the date he re-entered
'the service, will not be considered as Credited Service for the
purpose of this.System.
4. Pre-Retirement Death
ExclUsion - Self-inflicted disability, unless approved
by the Board.
A. Prio~ to Eligibility for Retirement
i. Non-service connected - A death benefit shall be
payable on behalf of any Member who becomes deceased, but not in
the performance of duty, as follows:
1. To the Spouse, until the earlier of death or remarriage,
a'monthly benefit equal to forth percent (40%) of the Member's
rate of regular base salary.
2. If there is no Spouse~ or upon the death or remarriage
of the Spouse, for each unmarried child until he or sh~ shall
have reached the age of eighteen (18). The child's pension shall
terminate on the earlier Of death, marriage or the attainment of
age 18. Legally adopted children shall be eligible the s~me as
natural children. The maximum total amount payable to all such
children shall be forty percent (40%) of the rate of regular base
salary. The trusteeship and disbursements of the pension to any
child or children shall be determined by the Board of Trustees.
ii. 'Service connected - the death benefit payable to the
designated Beneficiary of a Member who dies as a direct'result of
an occurance arising in the performance of duty, and is not
otherwise eligible for Early, Normal or Delayed Retirement at the
time of death, shall equal the Member's Accumulated
Contributions.
B. Deceased Employees Eligible for Retirement - For any
deceased actively employed Member who was eligible for Early,
Normal, or Delayed Retirement as of his date of death, the
benefit payable shall be the retirement benefit determined as
though the deceased Member had retired on his date of death, with
the resulting amount then being payable to the Beneficiary on a
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monthly basis for ten (10) years, or on such other actuarially
equivalent basis as approved by the Board.
5. Vesting - If a Member terminates his employment,
either voluntarily or by discharge, and is not eligible for any
other benefits under this System, he shall be entitled to the
following:
A. With less than 10 years of Credited Service Refund of
Accumulated Contributions.
B. With 10 or more years of Credited Service -
1. The pension benefit accrued to his date of termination
payable for life, commencing at the Member's election on his
Early Retirement Date or later, provided he does not electito
withdraw his Accumulated Contributions~ and provided he survives
until benefit payments actually begin. The benefit rate per year
of service shall be the same as determined for Early or Normal
Retirement, and shall depend upon the time of commencement of
benefit payments. In the event that the Member dies prior to the
commencement of benefits the Member's beneficiary will receive
the Member's Accumulated Contributions
or
2. Refund of Accumulated Contributions.
· Forfeitures arising from terminations of employment shall
serve only to reduce future City contributions and shall remain
as a part of the assets of the Fund.
Section 4: OPTIONAL FORMS OF BENEFITS
Each Member entitled to an Early, Normal, or Delayed
Retirement Benefit shall have the right at any time prior to the
date on which benefit payments begin to elect to have his benefit
payable under anyof the Options hereinafter set forth in lieu of
the benefits provided herein, and to revoke any such elections :
and make a new election at any time prior to the actual
commencement of payments. The value of payable optional benefits
shall be actuarially equivalen~ to the value of benefits otherwise
payable, and the present value of payments to the retiring Member
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must be at least equal to fifty percent (50%) of the total
present value of payments to the retiring Member and his
Beneficiary. The Member shall make such an election by written
request to the Board, such request being retained in the Board's
files.
OPTION 1 - Joint and Last Survivor Option
The Member may elect to receive a benefit during his
lifetime and have ~uch benefit (or designated fraction thereof)
continued after his death to and during the lifetime of his
Spouse or a relative other than his Spouse. The election of
Option 1 shall be null and void if the designated Beneficiary
dies before the Member's benefit payments commence.
OPTION 2 - Life. Annuity
The Member may elect to receive an increased benefit payable
for life only, and ceasing upon death.
OPTION 3 - Other
In lieu of the other optional forms enumerated in this
Section, benefits may be paid in any form approved by the Board
so long as actuarial equivalence with the benefits otherwise
payable is maintained.
Section 5: CONTRIBUTIONS
1. Member Contributions
A. Amount - Contributions by Members are neither required
nor permitted. However, the City shall contribute on behalf of
actively employed Members, amounts equal to 5% of their
respective Earnings. Such contributions, along with any amounts
contributed by the Members prior to October 1, 1976, shall
represent the Accumulated Contributions, and shall be deposited
to the Fund no less frequently than monthly.
B. Guaranteed Refund - All benefits payable under this
System are in lieu of.a refund of Accumulated Contributions. In
any event, however, each Member shall be guaranteed the payment
of benefits on his behalf at least equal in total amount of his
AccUmulated Contributions.
2. State Contributions
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Any monies received or receivable by reason of laws of the
State of Florida, for the express purpose of funding and paying
for retirement benefits for the Police Officers of the City shall
be deposited in the Fund within 30 days of receipt.
3. City Contributions -
So long as this System is in effect, the City shall make, on
at least a quarterly basis, contributions to the F~nd in an
amount equal to the difference in each year between the amounts
contributed per paragrah 1.A. hereof plus State contributions for
the year, and the total cost for the year as shown by the most
recent annual actuarial valuation of the System. The total cost
for any year shall be defined as the total Normal Cost plus the
additional amount sufficient to amortize the~Unfunded Accrued
Past Service Liability over not more than a thirty (30) year
period.
4. Other
Private donations, gifts, and contributions may be deposited
to the Fund. Such deposits may, at the discretion of the,Board,
be accounted for separately and kept on a segragated bookkeeping
basis. Funds arising from these sources may be used for
additional benefits for MemberS, as determined by the Board.
Section 6: ADMINISTRATION
1. The general administration and responsibility for the
proper operation of the Retirement System and for makin,g
effective the provisions of this Ordinance are hereby vested in
a Board of Trustees which shall be designated as the plan
Administrator for the System. The Board shall consist of five
(5) persons as follows:
A. The Mayor;
B. The City Clerk;
C. The Police Chief, and
D. Two employee members of the Police Department to be
elected as hereinafter provided.
2. The regular term of office of each elected Trustee
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shall be two (2) years. The elected Employee Trustees already
holding office at the time of the adoption of this Ordinance
shall continue in office as Trustees hereunder until October 1,'
1984. Elections shall be held for the term beginning October 1,
1984 and each October 1 thereafter. Each Employee Trustee may
succeed himself if re-elected as hereinafter provided.
3. Future elective Employee Trustees shall be elected in
the following manner: by vote of all actively employed members
of the Police Department who come within the purview of this
Ordinance at places designated by the Board, of which all
qualified members entitled to vote shall be notified in person or
by posting a notice on the Department bulletin board at least ten
days in advance of said election. The candidate receiving the
highest number of votes for office shall be declared elected and
shall take office immediately upon commencement of the term of
office for which elected or as soon thereafter as he shall
qualify therefor. In the event that two (2) Trustees are to be
elected in the first election held under this Ordinance, the
candidate with the second highest number of votes shall b~
elected for a term of one (1) year only. An election shall be
held not more than thirty (30) and not less than ten '(10) days
priorI to the ~ommencement of the term for which a trustee is to
be elected. The Board shall establish and administer the
nominating and election procedure for each election. The Mayor
'shall serve as Chairman of the Board and the City Cler~ shall
serve as the Secretary and Treasurer. In addition, the Board of
Trustees shall elect from among its members a Vice Chairman within
ten (10) days after the new Employee Trustee is elected and duly
qualified.
4. If a vacancy of a Board Member occurs, the vacancy
shall be filled for t~xe unexpired term in the same manner as the
office was previously filled. Except, if the vacancy of an
elected Member occurs within 120 days of a regular election, the
remaining Board Members shall appoint a successor from the
Department to complete the balance of the unexpired term, and if
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prior to 120 days, then a Special Election shall be called by the
Board to fill the balance of the unexpired term.
5. The Trustees shall serve without compensation, but they
may be reimbursed from the Fund for all necessary expenses which
they may actually expend through service on the Board.
6. Each Trustee except the City Clerk shall, within ten
(10) days after his appointment or election, take an oath of
office before the City Clerk of the City, that so far as it
develops upon him he will diligently and honestly administer the
affairs of the said Board, and that he wil not knowingly violate
or willingly permit to be violated any of the provisions of the
law applicable to the Retirement System. Such oath shall be
subscribed to by the members making it and certified by the said
Clerk and filed in the Office of the City Clerk prior to the
member being seated on the Board.
7. Each Trustee shall be entitled to one vote on the
Board. Three affirmative votes shall be. necessary for adecision
by the Trustees at any meeting of the Board. No proxy votes may
be cast.
8. Subject to the limitations of this Ordinance the Board
of Trustees shall from time totime establish uniform rules and
regulations for the administration of funds created by this
Ordinance and for transactions of its business, including
provisions for expulsion due to non-attendance of its elected and
appointed Members which could result in a vacancy.
9. The Board of Trustees shall engage such actuarial,
accounting and other services as shall be required to transact
the business of the Retirement System. The compensation of all
persons engaged by the Board of Trustees and all other expenses
of the Board necessary for the operation of the Retirement System
shall be paid from the Fund at such rates and in such amounts as
the Board of Trustees shall agree. Funds may be distributed by a
disbursing agent as determined by the Board, but only upon
authorization by the Board Of Trustees.
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10. Any elected or appointed Trustee who neglects the
duties of his office, as determined by the Board, may be removed
by four (4) concurring votes among the Board of Trustees.
11. For all acts and determinations of the Board the
Secretary shall prepare minutes.
~2. The duties and responsibilities of the Board of Trustees
shall include, but not necessarily be limited by, the following:
A. To construe the provisions of the System and determine
all questions arising thereunder.
B. T~ determine all questions relating to eligibility and
participation.
C. To determine and certify the amount of all retirement
allowances or other benefits hereunder.
D. To establish uniform rules and procedures to be
followed for administrative purposes, benefit applications and
all matters required to administer the System.
E. To distribute to the Members annually, pertinent
financial information concerning the System.
F. To receive and process all applications for
participation and benefits.
G. To authorize all payments whatsoever from the Fund, and
to notify the disbursing agent, in writing, of approved benefit
payments and other expenditures arising through operation of the
System.
H. To have performed actuarial studies and actuarial
valuations, and make recommendations regarding any and all
changes in provisions of the System.
I. To perform such other duties as are specified in this
Ordinance.
13. The Board of Trustees shall furnish to the City Auditor
such available investment and actuarial information regarding the
System as shall be requested.
Section 7: FINANCES AND FUND MANAGEMENT
1. As part of the System there is hereby established the
Fund, into which shall be deposited all of the contributions and
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assets whatsoever attributable to the System.
2. The actual custody and supervision of the Fund (and
assets thereof) shall be vested in the Board of Trustees.
Payment of benefits and disbursements from the Fund shall be made
upon authorization from the Board.
3. The Board may appoint the Treasurer or a National or
State Bank.wit~ TrUst powers to serve as Custodian of. the Fund.
All assets of the Fund shall be promptly and continually
deposited therewith. In order to fulfill its investment
responsibilities as set forth herein, the .Board may appoint the
Treasurer or retain the servicesof the Custodian Bank, an
investment advisor registered under Investment Advisors Act of
1940, or an insurance company for purposes of investment
decisions and management. Such investment manager shall have'
full discretion in the investment of assets subject to limitation
of this agreement and any guidelines as prescribed by the Board.
4. All funds and securities of the System may be
commingled in the Fund, provided that accurate records are
maintained at all times reflecting the financial composition of
the Fund, including accurate current accounts and entries as
regards the following:
A. Current-amount of Accumulated Contributions of Members
On both an individual and aggregate account basis, and
B. Receipts and disbursements, and
C. Benefit payments, and
D. Current amounts clearly reflecting all monies, funds
and assets whatsoever.attributable to contributions and deposits
from the City, and
E. All interest, dividends and gains (or losses)
whatsoever, and
F. Such other entries as may be properly required so as to
reflect a clear and complete financial report of the Fund.
5. The Board of Trustees shall have the following
investment powers and authority:
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A. The Board of Trustees shall be vested with full legal
title to said Fund, subject, however, and in any event to the
authority and power.of the City Commission to amend or terminate
this Trust, provided that no amendment or Fund termination shall
ever result in the use of any assets of this Fund except for the
pa~ent of regular expenses and benefits under this System. All
contributions from time to time paid into the Fund, and the
income thereof, without distinction between principal and income,
shall be held and administered by the Board or its agent in the
Fund and the Board shall not be required to segregate or invest
separately any portion of the Fund.
B. The Fund may be invested and reinvested in such
securities or property, real or personal, wherever situated and
whatever kind, as shall be approved by the Board of Trustees,
including but not limited to stocks, co~on or preferred, and
bonds, and other evidences of indebtedness or ownership.
C. The Board of Trustees may retain in cash and keep
unproductive of income such amount of t~e Fund as it may deem
advisable, having regard for the cash requirements of the'System.
D. No person or entity shall be liable for the making,
retention or sale of any investment or reinvestment made as
herein provided, nor for any loss or diminishment of the Fund,
except that due to his or its own negligence, willful misconduct
or lack of good faith.
Eo The Board may cause any investment in securities held
by it to be registered in or transferred into its name as Trustee
or into the name of such nominee as it may direct, or it may
retain them unregistered and in form permitting transferability,
but the books and records shall at all times show that all
investments are part of the Trust Fund.
F. The Board is empowered, but is not required, to vote
upon any stocks, bonds, or securities of any corporation,
association, or trust and to give general or specific proxies of
power of attorney with or without power of substitutions; to
participate in mergers, reorganizations, recapitalizations,
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consolidations, and similar transactions with respect to such
securities; to deposit such stock or other securities in any
voting trust or any protective or like committee with the
Trustees or with depositories designated thereby; to amortize or
fail to amortize any part or all of the premium or discount
resulting from the acquisition or disposition of assets; and
generally to exercise any of the power Qfan owner With respect
to stocks, bonds, or other investments comprising the Fund which
it may deem to be in the best interest of the Fund to exercise.
G. The Board shall not be required to make any inventory
or appraisal or report to any court, not to secure any order of
court for the exercise of any power herein contained.
H.. Where any action which the Board is required to take or
any duty or function which it is required to perform, either
under the terms herein or under the general law applicable to it
as Trustee under this Ordinance, can reasonably be taken or
performed only after receipt by it from a Member, the City, or any
other entity, or specific information, certification, direction
or instructions, the Board shall be free of liability in failing
to take such action or perform such duty or function until such
information, certification, direction or instruction has been
received by it.
I. Any overpayments or underpayments from the Fund to a
Member or Beneficiary caused by errors of computation shall be
adjusted with interest at a rate per annum approved by the Board.
Overpayments shall be charged against payments next succeeding
the correction. Underpayments shall be made up from the Trust
Fund.
J. The Board shall sustain no liability whatsoever for the
sufficiency of the Fund to meet the payments and benefits he~ein
provided for.
K. In any application to or proceeding or action in the
courts, only the City and the Board shall be necessary parties,
and no Member or other person having an interest in the Fund
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shall be entitled to any notice of service of process. Any
judgement entered in such a proceeding or action shall be
conclusive upon all persons.
6. Any of 'the foregoing powers and functions reposed in
the Board may be performed or carried out by the Board through
duly authorized Agents, provided that the Board at all times
maintains continuous supervision over the acts of any such Agent;
provided further, that legal title to said Fund shall always
remain in the Board of Trustees.
Section 8: REPEAL OR TERMINATION OF SYSTEM
1. This Ordinance establishing the System and Fund, and
subsequent Ordinances pertaining to said System and Fund, may be
modified, terminated, or amended, in whole or in part; provided
that if this or any subsequent Ordinance shall be amended or
repealed in its application to any person benefiting hereunder,
the amount of benefits which at the time of any such alteration,
amendment, or repeal shall have accrued to the Member or
Beneficiary shall not be affected thereby, except to the extent
that the assets of the Fund may be determined to the inadequate.
2. If this Ordinance shall be repealed, or if
contributions to the System are discontinued, the Board shall
continue to adminster the System in accordance with the
provisionsof this Ordinance, for the sole benefit of the
then Members, any Beneficiaries then receiving retirement
allowances, and any future persons entitled to receive benefits
under one of the Options provided for in this Ordinance who are
designated by any of said Members. In the event of repeal, or
if contributions to the System are discontinued, there shall be
full vesting (100%) of benefits accrued to date of repeal and the
assets of the System shall be allocated in an equitable manner to
provide benefits on a. proportionate basis to the persons so
entitled to benefits in accordance with the provisions thereof,
with prior preference being directed toward the return of
AccUmulated Contributions.
3. The following shall be the order of priority for
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purposes of allocating the assets of the System upon repeal of
this Ordinance or if contributions to the System are discontinued:
A. Members already retired under the Early, Normal or
Delayed Retirement provisions of the System and those eligible
for such Retirement, active or deceased, but not actually
retired, and their Beneficiaries, in proportion to and to the
extent of the then actuarially determined present value of the
benefits payable less amountsreceived. If any funds remain,
then
B. Members retired under the disability provisions of this
System, and their Beneficiaries, in the same manner as in "A"
above. If any funds remain, then
C. Other Members with Accumulated Contributions and other
vested benefits, and their Beneficiaries, in the same manner as
in "A" above. If any funds remain, then
D. All other Members and their Beneficiaries in the same
manner as in "A" but based upon Credited Service and Average
Monthly Earnings as of the date of termination of the System.
The allocation of the Fund provided for in this subsection
may, as decided by the Board be carried out through the purchase
of insurance company contracts to provide the benefits determined
in accordance with this subsection. The Fund may be distributed
in one sum to the persons entitled to said benefits or the
distribution may be carried out in such other equitable.manner as
the Board may direct. The Trust may be continued in existence
for purposes of subsequent distributions.
4. After all the vested and accrued benefits provided
hereunder have been paid and after all other liabilities have
been satisfied, including a return to the State of Florida of
funds as required under Chapter 185, Florida Statutes, then and
only then shall any remaining funds revert to the general fund of
the City.
Section 9: MISCELLANEOUS
1. Medical Beard - The Board of Trustees may at its
18
discretion designate a Medical Board to be composed of three (3)
physicians, but limited to either M.D.'s and/or D.o.'s, who shall
arrange for and pass upon all medical examinations required under
the provisions of this Ordinance, shall investigate all essential
statements or certifications made by or on behalf of a Member in
connection with an application for disability or retirement and
shall report in writing to the Beard of Trustees its conclusions
and recommendation~ upon all matters raferred to it. The payment
for such services, shall be determined by the Board of Trustees.
2. Discharged Members- Members entitled to a pension shall
not forfeit the same upon dismissal from the Department, but
shall be retired as herein described.
3. Non-Assignability - No benefit provided for herein
shall be assignable or subject to garnishment for debt or for
other legal process.
4. Pension Validity - The Board of Trustees shall have the
power to examine into t~e facts upon which any pension shall
heretofore have been granted under any prior or existing law, or
shall hereafter be granted or obtained erroneously, frauddlently,
or illegally for any reason. Said Board is empowered to purge
the pension rolls of any person heretofore granted apension
under prior or existing law or heretofore granted under this
Ordinance if the same is found to be erronoeous, fraudulent. or
illegal for any reason; and to reclassify any pensioner who has
heretofore under any prior or existing law or who shall
hereafter under this Ordinance be erroneously, improperly or
illegally classified.
5. Incompetents - If any Member or Beneficiary is a minor
or is, in the judgement of the Board, o~herwise incapable of
personally receiving and giving a valid receipt for any payment
due him under the System, the Board may, unless and until'claims
shall have been made by a duly appointed guardian or committee of
such person, make such payment or any part thereof to such
persons' Spouse, children or other person deemed by the Board to
have incurred expenses or assumed responsibility for the expenses
19
of such person. Any payment so made shall be a complete
discharge of any liability under the System for such payment.
Section 10: Specific authority is hereby granted to codify
and incorporate this Ordinance in the existing Code of Ordinances
of the City of Sanford, Florida.
Section 11: All Ordinances or parts of Ordinances in
conflicts herewith be and the same are hereby repealed.
Section 12: That should any section or provision of this
Ordinance or any portion thereof, any paragraph, sentence, or
word be declared by a court of competent jurisdiction to be
invalid, such decision shall not affect the validity of the
remainder hereto as a whole or part thereof other than the part
to be declared invalid.
Section 13: That this Ordinance shall become in full force
and effect in accordance with the Charter of the City of Sanford,
Florida, but 'shall apply as of the Effective Date as defined
herein.
PASSED AND ADOPTED by the City Commission of the Cit~ of
Sanford, Florida, this Ninth day of April, A.D., 1984.
MAYOR
ATTEST: ~~~~
CERTIFICATE
I, H. N. Tamm, Jr., City Clerk of the City of San-
ford, Florida, do hereby certify that a true and correct
copy of the foregoing Ordinance No. 1688, PASSED and ADOPTED
by the City Commission of the City of Sanford, Florida, on
the Ninth day of April, 1984, was POSTED at the front door
of the City Hall in the City of Sanford, Florida, on the
Tenth day of April, 1984.
~he City~Clerk of~~'/~"/~"~~
City of Sanford, Florida