0509 General Employees PensionORDINANCE NO..509
AN ORDINANCE AMENDING ORDINANCE NO. 419 OF THE CODE OF ORDINANCES OF
THE CITY OF OKEECHOBEE; AMENDING SECTION 1 DEFINITIONS SUB-PARAGRAPH
I CONTINUOUS SERVICE TO PROVIDE FOR TRANSFERS WITHIN THE CITY;
AMENDING SECTION 1 DEFINITIONS, SUB-PARAGRAPH I-2 TO DELETE A PRO-
VISION WHERE NO CREDIT FOR BENEFIT FOR MILITARY SERVICE IN EXCESS
OF SIX MONTHS MAY BE GIVEN; AMENDING SECTION III, RETIREMENT DATES
AND BENEFITS TO ADD SUB-PARAGRAPH H PROVIDING AN ELIGIBLE EMPLOYEE
MAY PURCHASE UP TO FOUR YEARS CREDITFOR ACTIVE WAR TIME SERVICE IN
THE MILITARY; AMENDING SECTION 8 CONTRIBUTIONS TO ADD SUB-PARAGRAPH
D PROVIDING THE MANNER OF COMPUTING EMPLOYEES CONTRIBUTIONS TO PUR-
CHASE MILITARY SERVICE CREDIT; AMENDING SECTION X1 REPEAL OR TERMI-
NATION OF SYSTEM TO PROVIDE AN ORDER OF PRIORITY FOR PURPOSES ALLOCA-
TING THE ASSETS OF THE SYSTEM UPON REPEAL OR TERMINATION; PROVIDING
AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA
AS FOLLOWS:
SECTION 1. Ordinance 419, Section 1, sub-paragraph i conti-
nuous service is hereby amended to read as follows:
I. Continuous service
means uninterrupted service by
a member {years and completed
months} who receives earnings
a periodic intervals, from the
date such member last entered
employment, until the date his
employment shall be terminated
by death, disability, retirement,
resignation or discharge; pro-
vided, however, the continuous
service of a member shall not
be deemed to be interrupted by:
1. Any authorized leave of
absence or paid vacation
not in excess of six months,
provided that all members
similarly situated in simi-
lar circumstances shall be
treated alike pursuant to
uniform, non-discrimina-
tory rules.
2. Any service, voluntary or in-
voluntary in the armed forces
of the United States, provid-
ed the member is legally en-
titled to reemployment under
federal law applicable to such
reemployment, and provided
further, that said member
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shall apply for reemployment
within ninety T901 days fol-
lowing termination of such
service.
However, no credit for benefits
under the system shall be allowed
for any period on leave of absence
or-in-military-service in excess
of six {61 months.
I-a. Transfers within the city
If a member of any of the City's three Retirement Systems
transfers to either of the other two Systems,-he'must
choose one of the following procedures with regard to
service accrued to date of transfer:
1. The Member may take a refund of his accumulated
contributions, in which event no pension benefit
shall be payable based on service attributable
to the period covered.
2. The Member may leave his contributions in the fund
in which event his continuous service with both
systems shall be combined for purposes of determin-
ing eligibility for benefits and for vesting. When
the member is eligible to receive a benefit, he shall
receive benefits from both systems, which shall con-
sist of accrued benefits under each system based on
the provisions of the respective system and the
earnings and continuous service under that system.
SECTION II. Ordinance 419, Section III, Retirement dates and
benefits is hereby amended to add sub-parpagraph H Credit for
Military Service and said sub-paragraph shall read as follows:
H. Credit for military service
1. A member may receive up to a maximum of four-
years of retirement credit for active military
service in the armed forces of the United States
or "war-time service" in the allied forces, pro-
vided that:
{al He served all or part of his military service
during one or more of the following periods:
1. Mexican War: Service from May 9, 1916
through April 4, 1917.
2. World War I: Service from April 6, 1917
through July 1, 1921.
3. World War II: Service from December 7,
1941 through December 31, 1946.
4. Korean Conflict: Service from June 27,
1950 through January 31, 1955
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5. Viet Nam Era: Service from August 5, 1964
through May 7, 1975.
{b} Credit for such military service has not been
granted under any federal for state retirement
or pension system where "length of service"
is a factor in determining the amount of compen-
sation received.
{c} The member was discharged from the military
under honorable conditions.
{d} The military service is certified by the
member and approved by the administrator.
{e} The allied forces shall include any nation
which was allied with the United States in
World War I or World War II; any nation which
provided military contingents and supported the
United Nations during the Korean Conflict; or
any nation which provide military assistance
to South Viet Nam in cooperation with forces
of the United States during the Viet Nam Era.
2. Any member who claims retirement credit for military
service in accordance with this sub-paragraph shall
be required to certify same to the Administrator of
the fund, prior to making any payments for such
military service credit, the credit for such military
service has not and will not be claimed for retire-
ment purposes under any federal or state retirement
or pension system where length of service is a
factor in determining the amount of compensation
received. In the event of the members death prior to
retirement, his beneficiary shall be required to make
such certification. If such certification is not
made by the member or his beneficiary credit for
military service will not be allowed.
SECTION III. Ordinance 419, Section XIII Contributions is hereby amended
to add a new sub-paragraph D providing the means of computing payments
eligible employees must make to purchase military service credits and
said sub-paragraph shall read as follows:
D. Retirement contribution for war-time military service credit.
1. The required contribution for a member who is eligible
to claim credit for war-time military leave in accordance
with Section III Sub-paragraph H herein is equal to
5% multiplied by the number of years of military service
claimed multiplied by the members compensation during his
first year creditable service under this pension plan plus
5-1/4X interest thereon compounded through date of payment.
(Ddt/1Cj;j
~ '
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The City shall not be required to make contributions
for military service credit for any member,
SECTION IV. Ordinance 419, Section XI Repeal or Termination of the System
Sub-paragraph 3, {al through {el is hereby amended to read as follows:
XI REPEAL OR TERMINATION OF THE SYSTEM
3. The-following-shall-be-the-order-of-priority-for-purposes-of
a}locating-the-assets-of-the-System-aeon-repeal-of-this-Ardi-
nance-or-if-contribations-te-the-Sgstem-are-diseontinaed=-
fa} The-Accumulated-Eontributions-of-the-Members-less-any
benefits-receivedi-in-proportion-to-and-to-the-extent
of-the-then-amount-of-Accumulated-Member-Eontributions.
If-any-fands-remain7-then--
{bl Members-already-retired-under-the-Normal-Retirement----
provisions-of-the-system-and-those-eligible-for----
normal-retirement-bat-not-actaalty-retired;-and-their
beneficiaries-r-in-proportion-to-and-to-the-extent---
ef-the-then-actt~aria}Iq-determinesJ-present-value-of
the-benefits-payable-less-amounts-receided-according
to-faf-above:--If-any-fands-remain-then---
{c} Members-retired-under-the-disability-provisions-of
this-system-and-their-Beneficiaries-in-the-same-manner
as-in-fbl-abode:--If-any-fands-remain,-then
{d} A}}-other-members-and-their-beneficiaries-in-the-same
manner-as-in-fb1-bat-based-upon-Eontinaoas-Service-and
average--monthly-earnings-as-of-the-date-of-termination
of-the-sys.tem;-and-with-any-benefits-vested given------
preeeden.ee+--
3. The following shall be the order of priority for purposes of
allocating the assets of the System upon repeal or termina-
tion of this Ordinance or if contributions to the System
are discontinued.
{a} Members already retired under the normal and
early retirement provisions of the plan and
those eligible for normal or early retirement
but not actually retired, and beneficiaries
receivinq a retirement income on such date on
account OT a retired gut since aeceasea member,
to the extent of the actuarially determined
present value of the benefits payable; provided
that, if such asset value be less than the
aggregate of such amount, such amounts shall be
proportionately reduced so that the aggregate of
such reduced amounts will be equal to such asset
value. If any funds remain, then
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{b} Members retired under the disability provisions
of this plan and their beneficiaries in the same
manner as in {a} above, including proportionate
reduction if there be insufficient assets. If
any funds remain, then
{c} All other members and their beneficiaries in the
same manner as in {a} but based upon continuous
service and average monthly earnings as of the
date of termination of the plan, with any benefits
vested under provisions of this system given pre-
cedence; provided that, if assets are insufficient
the benefits payable shall be proportionately re-
duced. If anv funds remain, then
{d} Each member's accumulated contributions to date
of termination, less prior distribution, and less the
actuarial present value of benefits to which such
member is entitled under {a}, {b} or {c} above,
if any;. provided that, if assets are insufficient,
the amounts payable shall be proportionately reduced.
{e} In the event that there be assets remaining after
the u apportionment specified in paragraphs a}
c an -such excess shall be-returned to the
ess return o state s contra utions to t e
state, provided that if the excess is less than the
total contributions made by the City and the State
to date of termination of the plan such excess
shall be divided proportionately as amonq the total
contributions made by the City and the State.
SECTION V. This Ordinance shall take effect as provided by law.
Introduced on first reading and set for public hearing this 21 day of
May , 1984. _
Mayor
ATTEST:
5
City Clerk
Passed on second and final reading
-h
ATTEST:
City Clerk
this 4th day of June _ ,.984.
Mayor
APPROVED AS TO FORM:
Citv Attornev
Cit.ERK'CERTIFIC4TE
STATE OF FLORIDA 1
COLNTY OF OKI-FCI{Illt;' I
CITY OF OKI~I:('tlt?:3f
f,F,1jTIFY TIIIT I am the duly
Pr.ll, rulrr t rf tlt tbwr'and fn '~;:uut~
qualiJi,•d clvrn, ,4
n `fit tI", 'IFi 'd • ! trh;. ir: on Cdr to th"
t. r•,rrr, .
a tru, and
OffiCp rrj
)1 R ll ~1 ?arr lrer, r t w„rl and (I~-:e the
o.1 1.0. pffi<'ial seal „j -:❑,re r,r,. ,r:~. /1)
SE. 11.
BONNIE S. THOMAS
CITY CLERK