4241 Police Officer's retirementOrdinance No. 4241
An Ordinance of the City of Sanford, Florida, amending Chapter 66, City
Code, relating to pensions and retirement, Article II, police officers'
retirement system by amending Section 66 -31, definitions and Section
66 -33, board of trustees; providing for conflicts; providing for
severability; providing for codification and providing for an effective
date.
Be It Enacted By The People Of The City Of Sanford, Florida:
Section 1. Amending Section 66 -31. 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 -31, Definitions, to amend the
definition of "Actuarial equivalent" to read as follows:
Actuarial equivalent means a benefit or amount of equal value, based upon the
RP 2000 Combined Healthy Mortality Table and an interest rate of
eight (8) percent per annum. This definition may only be amended by the city pursuant to
the recommendation of the board using the assumptions adopted by the board with the
advice of the plan's actuary, such that actuarial assumptions are not subject to city
discretion.
Section 2. Amending Section 66 -33. 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 -33, Board of Trustees, subsection
(1), to read as follows:
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(1) Board of trustees; responsibilities; composition. The sole and exclusive
administration of and responsibility for the proper operation of the system and for making
effective the provisions of this article are hereby vested in a board of trustees. The board
is hereby designated as the plan administrator. The board of trustees shall consist of five
trustees, two of whom, unless otherwise prohibited by law, shall be legal residents of the
City, who shall be appointed by the City Commission and two of whom shall be members
of the system, who shall be elected by a majority of the police officers who are members of
the system. The fifth trustee shall be chosen by a majority of the previous four trustees as
provided for herein, and such person's name shall be submitted to the City Commission.
Upon receipt of the fifth person's name, the City Commission shall, as a ministerial duty,
appoint such person to the board of trustees as its fifth trustee. The fifth trustee shall have
the same rights as each of the other four trustees appointed or elected as herein provided
and shall serve a #we four year term unless he or she sooner vacates the office. Each
resident trustee shall serve as trustee for a period of tws four years, unless he or she
sooner vacates the office or is sooner replaced by the City Commission at whose pleasure
he or she shall serve. The two resident trustees shall serve staggered terms. Each
member trustee shall serve as trustee for a period #we four years, unless he or she sooner
leaves the employment of the City as a police officer or otherwise vacates his or her office
as trustee, whereupon a successor shall be chosen in the same manner as the departing
trustee. Each trustee may succeed himself or herself in office and the two police officer
trustees shall serve staggered terms. DROP participants can be elected as but may not
vote for elected trustees. The board shall establish and administer the nominating and
election procedures for each election. A City official who is otherwise eligible for
appointment to the board shall not be disqualified for consideration solely on the basis of
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his or her official status unless such is required by law. The board of trustees shall meet at
least quarterly each year. The board shall be a legal entity with, in addition to other powers
and responsibilities contained herein, the power to bring and defend lawsuits of every kind,
nature, and description.
Section 3. Conflicts. All ordinances or part of ordinances in conflict with this
Ordinance are hereby repealed
Section 4. Severability. If any section, sentence, phrase, word, or portion of this
Ordinance is determined to be invalid, unlawful or unconstitutional, said determination shall
not be held to invalidate or impair the validity, force or effect of any other section, sentence,
phrase, word, or portion of this Ordinance not otherwise determined to be invalid, unlawful,
or unconstitutional.
Section 5. Codification. This Ordinance shall be codified in the City Code of the
City of Sanford; provided, however, that Section 3, 4, 5, and 6 shall not be codified.
Section 6. Effective Date This Ordinance shall take effect immediately upon
enactment.
Passed and adopted this 27 day of June, 2011.
Attest. City Commission of the y of
Sanford, Florida r
(Janet Dougherty, Cit Clerk U Jeff Triplett, Ma j fl
Approved as to form and legal sufficiency.
William L. Colbert, i Attorney
Ordinance No. 4241
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