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2000-06-20 Regular
910 CITY OF OKEECHOBEE .TUNE 209 2000 REGULAR CITY COUNCIL MEETING SUMMARY OF COUNCIL ACTION I. CALL TO ORDER: - Mayor: June 20, 2000, City Council Regular Meeting, 6:00 p.m. II. OPENING CEREMONIES: Invocation offered by Pastor Al Coleman; Pledge of Allegiance led by Mayor Kirk. III. MAYOR, COUNCIL AND STAFF ATTENDANCE - City Clerk. Mayor James E. Kirk Council Member Noel A. Chandler Council Member Lowry Markham Council Member Robert Oliver Council Member Dowling R. Watford, Jr. City Attorney John R. Cook City Administrator Bill L. Veach City Clerk Bonnie S. Thomas Deputy Clerk S. Lane Gamiotea IV. MINUTES - City Clerk. A. Motion to dispense with the reading and approve the Summary of Council Action for the June 6, 2000 Regular Meeting. PAGE 1 OF 8 Mayor Kirk called the June 20, 2000 Regular City Council Meeting to order at 6:03 p.m. Pastor Coleman led the invocation; Mayor Kirk led the pledge of allegiance. City Clerk Thomas called the roll: Present Present Present Absent (with consent) Present Present Present Present Present Council Member Chandler moved to dispense with the reading and approve the Summary of Council Action for the June 6, 2000 Regular Meeting; seconded by Council Member Markham. There was no discussion on this item. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. .TUNE 20, 2000 - REGULAR MEETING - PAGE 2 OF 8 911 V. WARRANT REGISTER - City Administrator. A. Motion to approve the May 2000 Warrant Register in the amounts: General Fund ............................... $209,263.59 Public Facility Improvement Fund ................. $1,493.25 Emergency and Disaster Relief Fund .............. $6,720.00 VI. AGENDA -Mayor. Council Member Watford moved to approve the May 2000 Warrant Register in the amounts: General Fund two hundred nine thousand, two hundred sixty-three dollars, fifty-nine cents ($209,263.59), Public Facility Improvement Fund one thousand, four hundred ninety-three dollars, twenty-five cents ($1,493.25) and Emergency and Disaster Relief Fund six thousand, seven hundred twenty dollars ($6,720.00); seconded by Council Member Markham. There was no discussion on this item. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. A. Requests for the addition, deferral or withdrawal of items on today's Mayor Kirk asked whether there were any requests for the addition, deferral or withdrawal of items on today's agenda. agenda. New Business item C was added to consider a contract renewal regarding the health insurance. New Business item D was added regarding a drainage problem and New Business item E was added to appoint members to the Tourist Development Council. VII. OPEN PUBLIC HEARING FOR ORDINANCE ADOPTION - Mayor. III Mayor Kirk opened the Public Hearing for Ordinance Adoption at 6:07 p.m. A.1. a) Motion to read by title only, proposed Ordinance No. 749 amending Council Member Chandler moved to read by title only, proposed Ordinance No. 749 amending the Police Officers' the Police Officers' Pension Fund - Attorney Scott Christensen Pension Fund; seconded by Council Member Watford. (Exhibit 1). VOTE b) Vote on motion to read by title only. KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. c) City Attorney to read proposed Ordinance No. 749 by title only. III Attorney Cook read proposed Ordinance No. 749 by title only as follows: "AN ORDINANCE OF THE CITY OF OKEECHOBEE AMENDINGAND RESTATING THE CITY OF OKEECHOBEE RETIREMENT SYSTEM FOR POLICE 912 JUNE 20, 2000 - REGULAR MEETING - PAGE 3 OF 8 VII. PUBLIC HEARING FOR ORDINANCE ADOPTION CONTINUED. A.1. c) City Attorney to read proposed Ordinance No. 749 by title only OFFICERS AS ADOPTED BY ORDINANCE 657 AND AS SUBSEQUENTLY AMENDED; PROVIDING FOR continued. DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCE AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NOWASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FORCONVICTION AND FORFEITURE, FALSE, MISLEADING ORFRAUDULENT STATEMENTS; PROVIDING FORINDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FORTRANSFERS WITHIN THE CITY PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIORTO EMPLOYMENT; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." 2. a) Motion to adopt proposed Ordinance No. 749. Council Member Watford moved to adopt proposed Ordinance No. 749; seconded by Council Member Watford. b) Public Comments. Mayor Kirk asked whether there were any questions or comments from the public. There were none. There was brief discussion between the Council regarding the wording of the cover letter from the Pension Attorney. c) Vote on motion. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED B.1. a) Motion to read by title only, proposed Ordinance No. 750 amending Council Member Chandler moved to read bytitle only, proposed Ordinance No. 750amendingthe Firefighters'Pension the Firefighters' Pension Fund - Attorney Scott Christensen (Exhibit 11 Fund; seconded by Council Member Watford. 2). JUNE 20, 2000 - REGULAR MEETING - PAGE 4 OF 8 913 W VII, PUBLIC HEARING FOR ORDINANCE ADOPTION CONTINUED. B.1. b) Vote on motion to read by title only. c) City Attorney to read proposed Ordinance No. 750 by title only 2. a) Motion to adopt proposed Ordinance No. 750. b) Public Comments. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. City Attorney to read proposed Ordinance No. 750 by title only as follows: AN ORDINANCE OF THE CITY OF OKEECHOBEE AMENDING THE RESTATED CITY OF OKEECHOBEE MUNICIPAL FIREFIGHTERS' PENSION FUND, AS ADOPTED BY ORDINANCE 656, AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FORA BOARD OF TRUSTEES; PROVIDING FOR FINANCES AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OFTHE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NOWASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY PROVIDING FOR PURCHASE OF CREDIT FOR MILITARYSERVICE PRIORTO EMPLOYMENT; PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; DELETING SEPARATION FROM EMPLOYMENT FOR MILITARY SERVICE; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." Council Member Watford moved to adopt proposed Ordinance No. 750; seconded by Council Member Markham. Mayor Kirk asked whether there were any questions or comments from the public. There were none. 914 .TUNE 20, 2000 - REGULAR MEETING - PAGE 5 OF 8 VII. PUBLIC HEARING FOR ORDINANCE ADOPTION CONTINUED. B. 2. c) Vote on motion. VOTE KIRK - YEA CHANDLER -YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. CLOSE PUBLIC HEARING - Mayor. Mayor Kirk closed the Public Hearing at 6:17 p.m. Vill. NEW BUSINESS. A. Discuss July Meeting Date - City Clerk (Exhibit 3). The first Tuesday in July falls on a holiday, the Forth of July. Following a brief discussion, the consensus of the Council was to only have one meeting in July and that will be on the 18"'. B. Discuss and consider appointing the City Administrator as a Voting Council Member Watford moved to appoint the City Administrator as a voting delegate to the Florida League Delegate to the Florida League of Cities on behalf of the City - City of Cities annual meetingiconvention to be held in August, 2000; seconded by Council Member Markham. Administrator (Exhibit 4). VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. C. Discuss and consider a contract renewal for health insurance with Mr. Scott Harris agent for Blue Cross and Blue Shield addressed the Council stating that August 1, 2000 is the City's Blue Cross and Blue Shield - Scott Harris (Exhibit 5). annual renewal date with the health insurance and he just received notice that there will be an increase in the rates. Through exhibits that Mr. Harris distributed to the Council he highlighted comparisons of the City's current plan and an alternate plan. The current plan is Care Manager A16 which is the high option offered by Blue Cross and listed the plan benefits. The A16 plan is as follows: HMO side of the benefitfive dollars ($5.00) office visit co -pay; zero hospital co -pay (100 percent coverage); twenty-five dollars ($25.00) emergency room co -pay. June 20, 2000 - Regular Meeting - Page 6 of 8 915 VIII. NEW BUSINESS. C. Discuss and consider a contract renewal for health insurance with Blue Cross and Blue Shield continued. The Traditional side of the benefit is a three hundred dollar ($300.00) calendar year deductible; three hundred dollars ($300.00) hospital deductible; 80 percent co-insurance; two thousand dollars ($2,000.00) out of pocket limit. Prescriptions are five dollars ($5.00) for generic and ten dollars ($10.00) for name brands. The City is being offered the option to renew this plan with no changes. However this plan is experiencing a 25 percent increase in rates and that equates to a 21.8 percent increase on the employer's cost because the City pays a constant seventy dollars ($70.00) on dependent coverage, it reduces the overall increase percentage to the employer. The primary reason for that renewal increase is an increase in the manual of the community rates. With sixty employees approximately 85 percent of your renewal is based on what the community rate is, that being determined by the age and sex of your employees, geographic location and the plan benefits the City choosen. Then 15 percent is based on the claims experienced. It has been an above average claims year, but the City is protected because even if you have a very poor claims year it does not drastically impact your rates with the Blue Cross formula. A17 Care Manager, or the Mid Option offered by Blue Cross would only increase 13.4 percent. This benefit package would consist of the following: The HMO side is ten dollars ($10.00) office visit co -pay; one hundred dollars ($100.00) per day hospital co -pay, up to five hundred dollars ($500.00); fifty dollars ($50.00) emergency room co -pay. The Traditional side would be a five hundred dollar ($500.00) calendar year deductible; a five hundred dollar ($500.00) hospital deductible; 70 percent co-insurance; three thousand dollars ($3,000.00) out of pocket limit. Prescriptions - seven dollars ($7.00) for generic and twenty dollars ($20.00) for name brand. There were some concerns among the Council four years ago when the City switched from Principal Mutual to Blue Cross/Blue Shield and whether the rates would hold up. According to the rate history exhibit when the City first switched in 1997 there was a significant savings to the City and the plan was viewed as an enhancement of benefits for the employees. The second year, August 1998, there was no rate increase. The third year, August 1999 there was a 4.4 percent increase. This year, August 2000 there is a 21.8 percent increase. Mr. Harris also noted that he hand wrote what Principal Mutual's rates were in August,1996 and the total cost was 6.3 percent higher than the new rates on the high option plan of Blue Cross five years later. Itwas a good decision that the Council made to go with Blue Cross/Blue Shield back then. Health insurance is a long term venture and you want to make a decision that is good for a number of years, which is what the Council did. Administrator Veach explained that Staff needs to know whether the Council wants to remain with Blue Cross/Blue Shield and if so, which plan, because the increased rates are not in the budget and Staff will have to find the money since the budget years does not run out before insurance year does. JUNE 20, 2000 - REGULAR MEETING - PAGE 7 OF 8 Vill. NEW BUSINESS CONTINUED. C. Discuss and consider a contract renewal for health insurance with Mayor Kirk, Council Members Chandler and Markham were in favor of keeping the current plan, Care Manager A16. Blue Cross and Blue Shield continued. Council Member Watford commented that he could go with either of the plans. Council also briefly discussed with Administrator Veach whether the employees were satisfied with the coverage. He responded that the consensus of the employees that he spoke with are very happy with it. Council Member Watford moved that the City continue the present insurance coverage with Blue Cross/Blue Shield using Care MangerA16; seconded by Council Member Markham. Council also noted thatthe City could not stand for continued significant rate increases. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. D. Discuss an emergency drainage issue - City Administrator/Public Administrator Veach addressed the Council explaining that Staff has deemed an emergency repair situation on Works Director (Exhibit 6). Southwest 2"d Avenue and 8' Street. The problem was identified sometime back. It is a situation where there is a great deal of erosion that has occurred around a box culvert. What makes this an emergency situation is the time of year we are in, with the summer rains coming, if this erosion were to worsen there is a sewer line, road and sidewalk that would be involved. B and B Site Development has indicated that they could repair this for the City at a cost of fifteen thousand eighty dollars ($15,080.00). Our engineers advised thatthis was a good price. When the problem was first discovered, other contractors were contacted and this price was the lowest. The contractor has indicated they could be on the job by July Ph or 8"'. Following a lengthy discussion, Council Member Watford moved that we, under emergency situations and according to Florida Statute 287.055 that this is an emergency and that we award a repair contract to B and B Site Development Inc for fifteen thousand eighty dollars ($15,080 00) for repairs to a storm drainage system; seconded by Council Members Chandler and Markham. Mayor Kirk noted that this is with the understanding that the Administrator is also instructed to do a reference check on this contractor and make sure everything looks fine. Council agreed. JUNE 20, 2000 - REGULAR MEETING - PAGE 8 OF 8 917 Vill. NEW BUSINESS CONTINUED. D. Discuss an emergency drainage issue continued. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. E. Discuss appointing members to the Tourist Development Council - III Mayor Kirk advised that Council Members Markham and Watford are currently serving on the Tourist Development Council Member Markham. Council and he would strongly recommend they stay there. Council Member Chandler moved to reappoint Council Members Markham and Watford to serve on the Tourist Development Council; seconded by Council Member Markham. VOTE KIRK - YEA CHANDLER - YEA MARKHAM - YEA OLIVER - ABSENT WATFORD - YEA MOTION CARRIED. IX. ADJOURNMENT- MAYOR. There being no further items on the agenda, Mayor Kirk adjourned the meeting at 6:51 p.m. PLEASE TAKE NOTICE AND BE ADVISED THAT IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CITY COUNCIL WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE MAY NEED TO INSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS ICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BA ATTEST: JAMEs E. KIRK, MAYOR BONNIE S. THOMAS(bk, CITY CLERK CITY OF OKEECHOBEE CITY COUNCIL REGULAR MEETING - June 20, 2000 HANDWRITTEN MINUTES CALL TO ORDER: - Mayor: x" rwvso. z000, Czv Coa4LRw"Za.r Meesfn*, OPENING CEREMONIES: Invocation offered by Pa4torA1,C0ie*w&*v Pledge of Allegiance led by Ma vor x." MAYOR, COUNCIL AND STAFF ATTENDANCE - Present Mayor Kirk Council Member Chandler Council Member Markham Council Member Oliver Council Member Watford Attorney Cook Administrator Veach j City Clerk Thomas Deputy Clerk Gamiotea Absent Page -I- MINUTES - City Clerk. A. Council Member moved to dispense with the reading and approve the Summary of Council Action for the June 6, 2000 Regular Meeting; Council Member �qlm DISCUSSION: Yea No Abstained Absent KIRK !` CHANDLER MARKHAM OLIVER WATFORD is MOTION: C�ED — DENIED WARRANT REGISTER- Cit Administrator. A. Council Member W moved to approve the May 2000 Warrant Register in the amounts: General Fund $209,263.59, Public Facility Improvement Fund $1,, 3.25 and Emergency and Disaster Relief Fund $6,720.00; seconded by Council Member%7? DISCUSSION: Yea No Abstained Absent KIRK CHANDLER MARKHAM I OLIVER WATFORD j MOTION: Cfl(j�ED .. DENIED f 01. AGENDA -Mayor. A. Requests for the addition, deferral or withdrawal of items on today's agenda. ice/ !_ ��„ •: t_,__ S�� � °L. Page -2- F. MAYOR OPENED PUBLIC HEARING FOR ORDINANCE ADOPTION AT A.1. a) council Member M, . moved to read by title only, proposed Ordinance No. 749 amending the Police O,i�s' Pension Fund - Attorney Scott Christensen (Exhibit 1); seconded by Council Member yy�� b) Vote on motion to read by title only. Yea No Abstained Absent c) City Attorney to read proposed CHANDLER Ordinance No. 749 by title only as MARKHAM follows: "AN -ORDINANCE OF THE OLIVER D CITY OF OKEECHOBEE AMENDING AND RESTATING THE CITY OF OKEECHOBEE MOTION: Cq(RFiED DENIED RETIREMENT SYSTEM FOR POLICE OFFICERS AS ADOPTED BY ORDINANCE 657 AND AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCE AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NON -ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY PROVIDING FOR DIREST TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." 2. a) Council Me I,cJ moved to adopt proposed Ordinance No. 749; seconded by Council Member b) Public Comments d4j`'u-i`A�° Az:n Ae U "v Yea No Abstained Absent S 7s KIRK CHANDLER MARKHAM OLIVER WATFORD c) Vote on motion. MOTION: C R��ED — DENIED • Page -3- B.1. a) Council Member C;�t moved to read by title only, proposed Ordnance No. 750 amending the Firefighters' Pension Fund - Attorney Scott Christensen (Exhibit 2); seconded by Council -- Member -& t b) Vote on motion to read by title only. Yea No Abstained- Absent KIRK c) City Attorney to read proposed CHANDLER Ordinance No. 750 by title only as MARKHAM follows: AN ORDINANCE OF THE OVER CITY OF OKEECHOBEE WATFORD AMENDING THE RESTATED CITY OF OKEECHOBEE MUNICIPAL MOTION: rA+D DENIED FIREFIGHTERS' PENSION FUND, AS ADOPTED BY ORDINANCE 656, AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCES AND FUND MANAGEMENT, PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT, PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NON -ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; DELETING SEPARATION FROM EMPLOYMENT FOR MILITARY SERVICE; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." 2. a) Council Membqr moved to adopt proposed Ordnance No. 750; seconded by Council Member 29 b) Public Comments. I?e — �,Lta'v / 7S S. c) Vote on motion. CLOSE PUBLIC HEARING - Mayor �f Yea No Abstained Absent KIRK CHANDLER MARKHAM OLIVER WATFORD MOTION: RR D -- DENIED • Page -4- VIII. NEW BUSINESS. A. Discuss July Meeting Date - City Clerk (Exhibit 3). m '-� c qv;, 1 g� _ 0 • i Page -5- 6. Discuss and consider appointing the City Administrator as a Voting Delegate to the Florida League of Cities on behalf of the City - City Administrator (Exhibit 4). Qcct� 2a a 0 • Page -I- CITY OF OKEECHOBEE CITY COUNCIL REGULAR MEETING - June 20, 2000 HANDWRITTEN MINUTES L', CALL TO ORDER: - Mayor. x" TwV20. 2000. crzv CowwaReaular Meetwta. L0, 03 OPENING CEREMONIES: Invocation offered by Pa& rAI/Calevnaw Pledge of Allegiance led by Mawor K." MAYOR, COUNCIL AND STAFF ATTENDANCE - 2 Present Mayor Kirk toe Council Member Chandler 6.1 Council Member Markham L1'' i Council Member Oliver Council Member Watford ✓ Attorney Cook ✓ Administrator Veach ✓ City Clerk Thomas Deputy Clerk Gamiotea I Iy ; MINUTES - City Clerk. A. Council Member_ moved to dispense with the reading and approve the Summary of Council Action for the June 6, 2000 Regular Meeting; Council Member LM gi$CUSSION: Yea No Abstained Absent 1 ' KIRK i,Qtl e. CHANDLER MARKHAM OLIVER WATFORD MOTION: ARRIE DENIED i M, WARRANT REGISTER - City Administrator. A. Council Member t�Lu moved to approve the May 2000 Warrant Register in the amounts: General Fund $209,263.59, Public Facility Improvement Fund $1,493.25 and Emergency and i Disaster Relief Fund $6,720.00; seconded by Council Member �1 nrt DISCUSSION: Yea No Abstained Absent KIRK �G nQ CHANDLER �-- MARKHAM v OLIVER WATFORD MOTION: ARRIE DENIED Vk, ;AGENDA - Mayor. A. Requests for the addition, deferral or Wthdrawal of items on today's agenda. - pIN (fin wowz 9L ic ` Rpp tC r � - � `" tet 1 ` 0 i�now ux ao� J-41 JC) dG g� U Page -2- Vit-f. MAYOR �j,_ OPENED PUBLIC HEARING FOR ORDINANCE ADOPTION AT (Op. Oq Q— A.1. a) council Member Al C moved to read by title only, proposed Ordinance No. 749 amending the Police Officers' Pension Fund - Attorney Scott Christensen (Exhibit 1); seconded by Council Member _J�� b) Vote on motion to read by title only. C) Yea No Abstained Absent Cit Attorney to read proposed KIRK Y Y P oP CHANDLER +� Ordinance No. 749 by title only as MARKHAM follows: "AN ORDINANCE OF THE OLIVER CITY OF OKE€CHOBEE WATFORD v AMENDING AND RESTATING THE CITY OF OKEECHOBEE MOTION: CARRI DENIED RETIREMENT SYSTEM FOR POLICE OFFICERS AS ADOPTED BY ORDINANCE 657 AND AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCE AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT, PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NOWASSIGNABILITY; PROVIDING FOR PENSION VALIDITY, PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY PROVIDING FOR DIREST TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." 2. a) Coundl Member (JW moved to adopt proposed Ordinance No. 749; seconded by Council Member kxY% b) Public Comments — rNovLL �- +'VpLPg Ow-t , w die juja , e C caa&OL Wa ? , J aod-yt� JDLL J% CPA ram., ui-� vAU eou�x i ua Wouct, UQ wcu, A one ap-q OZUA� IA13. +0 4Ueaq a- Lho of Auwo way no LA Qxx� no� 6,%4- q-v-c L ern v,-, V)OALd , 4 aup �Qz , core. AQ,�, w I � Q c) Vote on motion. (j 4i\Q4 uxz wa mod. UYu -b wx")� Yea No Abstained Absent KIRK _JG CHANDLER _ MARKHAM OLIVERy' WATFORD JG MOTION CARRIED DENIED WA. pJQ�AJ Q-C� &U4 0bC0ft4-)1 4 t + bao c C S t eowPS> b� 4-� c4L ( eowoU, 01 L&= w-/. 40L Aj-a �t CL k� 3 SU�I,�Ov� ,�R,�2 tv.�,� � �� �Cu,� �� Iaa..K.�..��. Y�� �l-�lR. ►�ll.�.,u,�x.�,�.w.� wa.o wv.d.Q. --4 Lmpwvzi.� we 0Ad a-�L io _9 i Ly"' , can coc, ur-*),_ 4ho� MCA T� J M� a Ctrs A- fie, Uw1aJA- 2. tA saw uk vAc v- e tr''lcl ��.. r a ro c J�D WVkP4 Lq a* & sup - 44, f a cul-pkc axe4 S0 a Strom LL6 U-0- UXUA4- Liz w��uj- �- W4- qy'o-4 bkh-, W 2. UAAUa VK--I�kz \Ct�&9,k� -A,- b %,,", 4koj,;, C� �Ui tit ra�s� 0, CM C 1 4Du J �1 UA , C ftfu ,4QUekL, c Qn Gj LAk- QL �-KYC;X. a �;�- ��crno..s,�c i°;�.���noe�r fit;'• • 0 Page -3- B.1. a) Council Member moved to read by title only, proposed Ordinance No. 750 amending the Firefighters' Pension Fund - Attorney Scott Christensen (Exhibit 2); seconded by Council Member b) Vote on motion to read by title only. i Yea No Abstained Absent KIRK c City d proposed ) tY Attorney to read P Posed CHANDLER � Ordinance No. 750 by title only as MARKHAM �- follows: AN ORDINANCE OF THE OLIVER ✓ CITY OF OKEECHOBEE WATFORD AMENDING THE RESTATED CITY OF OKEECHOBEE MUNICIPAL MOTION: CAR DENIED FIREFIGHTERS' PENSION FUND, AS ADOPTED BY ORDINANCE i 656, AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCES AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONAL; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR ' EXEMPTION FROM EXECUTION AND NON -ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; DELETING SEPARATION FROM EMPLOYMENT FOR MILITARY SERVICE; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE." I 2. a) Council Member QW moved to adopt proposed Ordinance No. 750; seconded by Council Member 1,- t b) Public Comments. - nQx\sk. i c) Vote on motion. J C SE PUBLIC HEARING - Mayor' lc'. (� p p4o�. Yea No Abstained Absent KIRK L� CHANDLER +. MARKHAM 4�- OLIVER WATFORD .� MOTION: CARRIED DENIED Page -4- 'Will. NEW BUSINESS. A. Discuss July Meeting Date - City Clerk (Exhibit 3). ica" o-LL OAi A� -t haw spa c� a- mO-J- y � t rum , .0.9 i cx � - �' 2 Page -5- B. Discuss and consider appointing the City Administrator as a Voting Delegate to the Florida League of Cities on behalf of the City - City Administrator (Exhibit 4). J►►�o < �c `�o �o Ca- V �n <'�.x-�,� chi who j d o u� ; 6 um f`cLOu.aZ.�o.lx.- C 0 - i C zt.rn wed A-0 Ngenda. � . ,-Nscotss ara I U n4raCf re newa9, for hPA"h �e shl2d " aod Qt ° b � T oy cx1N-' ` -'` Y 1 s-� �( � Q�� ,r-),(t, --J) -r� � ��'OC►� ��{'�> � ��o� -ten �- �� � -� ��� ���'- �n�ac� 61� ''gun o� .�,' + h 'Z� a �.� ov TAT f 7 QT*V�� --D CUM qq ` VchxnM -Py�'A -4--) t lAk` n Y�q j cup )6-* ' - qv Fsro -sod `fit, �'�1 ��n ► up,9T* ( INni rA-� I% nv � -ZrAt qfl�) - MD9 (26 o Z)o rmv -It T� Twmm man cwxrlld -A-Vvhow-o cow Tr(z -,\QwnN r*oi* t-f-f -rib -�-�--� � a�-�r,rrp� -��►„� gyp.. � v �, �., �.�r�c, c�.x�-� - vwd 9rtao-o innoLl --Yi+ ems' Yr G6 Q� Mock WD "ITn -©N ' q-,)1wn �' I d c i o�erti V �► Lq 8e, ice& S Lau -q- �j" Lo a � � �► qkkA- IL ot�7 `-*& pal � coo mad Qlis" C�z 4 bu c , -� 4� Lie, kLka -�o do wow- n� a rz� �3t D-L4 Z" tk- 4Au- L&Swav,�-c t r_Aw�-� �� t R�1.V� �� r c I�x�ov� c d� P4A- t L nc�-- qNUA� �� Tkxn Ali to A ge.ndo., � — . oLra�Qg.�- ��..� ASS-- � `Pt lac �o r 5 Z�ro-6oxr (E x hCW 13v7 wt hO-Ot LQ+D,+ DA Oj.Q m &n repa. f ,4 t I&v, rDh 2hd Ave .� B'J" - , OL) b©x C,10I�A bas �xCdd -Vo'A 4 pourC 4 A C� -- 5 nQver i�2Q Y1 dome-, we: r2 4co &LOA Ak�eo &f\ r ��ipvh `,�c1c6 10 e� C , Luiv e VX)J-4 ; vx O. xc ,nd rL `tie- o l Cas 6 rr4 4d 5u-te4 ape, baQA, a, �i4 uo-�t -;.r Where- 4-KU6 a 4�F29 doi o ` �ros�e,ti In s C� x QLd v.,f4 w `a ► M 5 �-hiS ax-� e� +UVIL ��. r c � can 9l4 n©ems c-014t rcj-s Coe, q-Ki S Q.r o tam, t�2x� -b wc�xS2nres o►- l ,ir e COw 1 bQ-C_orne- C_nV 61V6 < U2r6 Q S+rt�� tS\ . t o Ar-c) pu. cx1 Ut , �c ��O�Q UJU rt [,)r2 L � v L 1 d.pu), L� up url r (�Ke k Q, oV`F P� -m 60-A Q is `` n-4, csrvex cJ rn.+hs C o , T �ocd pro ekxf-4 w f �e.� cn+� ��. pz'�te..�S �he�� , m►- 4-her � u nd.Q.r-��d �. Puy` � goun )Co C�& ka-5 0` b 1 Ajao . ej C�c� Ave )MA ,crow �S g 4vv2.4 C,L) LA& C46 die WOY'�0 S Wt�( �' -nod beQx,, eo mt � x ct w f A-oa- ck- 3uA b WmW d b. eS pro W T `d wo-rvv at ` CZn4L- o.kt) ls:)m&` uk `4J U-p i�4 lug L- - a Cprx xN, U Cn U-l- -Pbf m 0 .Cl_. mxp- o- Lod- n4aoht'k, 4�-fe- ?W-�k ho�61L� dw /�atx -1U- dotD 4�do 4L FS Y'� pynic�� 44uL Ar uk4at� �okrk Qoj\ fz�k- Lp Qn bVLkGc� u,-, qA4 � lk - 4 Q67 A'o 0, CiDuld a© 4kjh tau- Oar � ioi-L u� Cluj&Dxd� U-\_� � v-q dpk� /-�� L�P� '[Z AAk-LPAt-U' a" 6-w-, o^�t c�-� Cclatk �D ,� . w Q Uafo ck. O. L (q UmA ckL.) c,L �v J`u- Q6-� , 44, -�.►�.. � �� cam..©� � � � �e c��� i �'� E. leis �s tin Me ml�axs 4-o -1 ht ToLuvii )bkY dopMP-4 i ol1 OKICC,S, a O CITY OF OKEECHOBEE JUNE 2% 2000 REGULAR MEETING OFFICIAL AGENDA PAG$ 1 of 3 I. CALL TO ORDER - Mayor: June 20, 2000, City Council Regular Meeting, 6:00 p.m. U. OPENING CEREMONIES: Invocation offered by Pastor Al Coleman; • Pledge of Allegiance led by Mayor. M. MAYOR, COUNCIL AND STAFF ATTENDANCE - City Clerk. Mayor James E. Kirk Council Member Noel A. Chandler Council Member Lowry Markham Council Member Robert Oliver Council Member Dowling R. Watford, Jr. City Attorney John R. Cook City Administrator Bill L. Veach City Clerk Bonnie S. Thomas Deputy Clerk S. Lane Gamiotea • IV. MINUTES - City Clerk. A. Motion to dispense with the reading and approve the Summary of Council Action for the June 6, 2000 Regular Meeting. V. WARRANT REGISTER - City Administrator. A. Motion to approve the May 2000 Warrant Register in the amounts: General Fund.......................................$209,263.59 Public Facility Improvement Fund .......................... $1,493.25 Emergency and Disaster Relief Fund ........................ $6,720.00 JUNE 20, 2000 - CrrY COUNCIL AGENDA - PAGE 2 of 3 VI. AGENDA - Mayor. A. Requests for the addition, deferral or withdrawal of items on today's agenda. VII. OPEN PUBLIC HEARING FOR ORDINANCE ADOPTION - Mayor. A. 1. a) Motion to read by title only, proposed Ordinance No. 749 amending the Police Officers' Pension Fund - • Attorney Scott Christensen (Exhibit 1). b) Vote on motion to read by title only. c) City Attorney to read proposed Ordinance No. 749 by title only. 2. a) Motion to adopt proposed Ordinance No. 749. b) Public Comments c) Vote on motion. B. 1. a) Motion to read by title only, proposed Ordinance No. 750 amending the Firefighters' Pension Fund - Attorney Scott Christensen (Exhibit 2). b) Vote on motion to read by title only. c) City Attorney to read proposed Ordinance No. 750 by title only. 2. a) Motion to adopt proposed Ordinance No. 750. b) Public Comments. c) Vote on motion. CLOSE PUBLIC HEARING - Mayor. 0 JuNE 20, 2000 - CITY COuNcm AGENDA - PAGE 3 OF 3 VIII. NEW BUSINESS. A. Discuss July Meeting Date - City Clerk (Exhibit 3). B. Discuss and consider appointing the City Administrator as a Voting Delegate to the Florida League of Cities on behalf of the City - City Administrator (Exhibit 4). EK. ADJOURN MEETING - Mayor. PLEASE TAKE NOTICE AND BE ADVISED that if any person desires to appeal any decision made by the City Council with respect to any matter considered at this proceeding, such interested person will need a record of the proceedings, and for such purpose may need to ensure a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. City Clerk tapes are for the sole purpose of backup for official records of the Clerk. LAW OFFmcEs CHRISTIANSEN & DEHNER, P.A. ScoTr R. CHRISTIANSEN H. LEE DEHNER Mr. Bill Veach, City Administrator City of Okeechobee 55 Southeast 3rd Avenue Okeechobee, Florida 34974 63 SARASOTA CENTER BLVD. SUITE 107 SARASOTA, FLORIDA 34240 May 12, 2000 EXHIBIT 1 - 6/ 20 AGENDA PHONE: (941) 377-2200 FAX: (941) 377-4848 Re: City of Okeechobee Municipal Pension Trust Fund City of Okeechobee Municipal Firefighters' Pension Trust Fund Dear Mr. Veach: We represent the Boards of Trustees of both your police officers' and firefighters' pension plans. You previously received proposed ordinances prepared by us which had been placed on an agenda for first reading on May 2nd. At our request, these ordinances were pulled from that agenda pending further revision. Based on additional favorable funding information with regard to the firefighters' pension plan, certain benefit improvements have been now included and recommended for adoption for both the police officers' and the firefighters' pension plans. The enclosed revised proposed ordinances contain the following changes with respect to both plans: 1. The proposed ordinances amend and restate the plans to include the most recent legislative changes found in Chapter 99-01, Laws of Florida. All non -cost required changes necessary to comply with the new legislation have been included in the proposed ordinances. 2. The proposed,ordinances not only include the most recent legislative changes found in Chapter 99-01, Laws of Florida, but also provide the following benefit improvements. a. The normal retirement date has been reduced from age 60 to age 55 and the completion of 10 years of credited service. This change brings the plan into compliance with the minimum requirement provided for in Chapters 175 and 185, Florida Statutes. Mr. Bill Veach, City Administrator May 12, 2000 Page 2 b. The in -line of duty disability benefit has been amended to provide a benefit equal to the accrued benefit on the date of disability but not less than 42% of average final. compensation. This benefit meets the minimum requirement provided for in Chapters 175 and 185, F14t7ida Statutes. C. The not -in line of duty disability benefit has been amended to provide for a benefit equal to 2 % of average final compensation multiplied by total years of credited service or the early retirement benefit, but not less than 25 % of average final compensation in any event. This amended benefit also meets the minimum requirement of Chapters 175 and 185, E101id3 ,eta i t. d. The pre -retirement death benefit is amended to provide for payment of at least the minimum benefit in Chapters 175 and 185, Florida S aL= e. A one-half of one percent biannual cost of living adjustment has been added to each plan which will be effective for all current and future retirees. I am enclosing with this letter copies of the studies conducted by each Board's actuarial firm, Gabriel, Roeder, Smith & Company, indicating that the adoption of all of the proposed benefit improvements provided for in the proposed ordinances will still not require the City to make a contribution to either plan. I understand that these ordinances will be placed on an agenda for first reading on June 6th. My partner, Lee Dehner, will be present to explain the changes provided for in these ordinances and to answer any questions which the City Council may have. If you have any questions prior to that date, please feel free to give me a call. Yours r truly, Scott R. Christiansen SRC/bm enclosures cc: Theora Braccialarghe, with enclosures Jim Paul, with enclosures J. P. Zeigler, with enclosure Bill Douglas, with enclosures GABRIEL, ROEDER, SMITH & COMPANY Consultants & Actuaries 301 East Las Olas Blvd. • Suite 200 • FL Lauderdale. FL 33301 9954-527-1616 • FAX 954-525-CO83 May 8, 2000 Chief Farrenkoph City of Okeechobee Police Department 55 S.E. 3rd Avenue Okeechobee, FL 34974-2932 Re: Benefit Study for Police Pension Plan Dear Chief Farrenkoph: We have completed the study you requested. The results are as follows: Reauired Contribution, City & State CittV Current Plan Provisions $62,439 $0 per 10/1/99 valuation 9.64 o �° 0.00% as % of payroll New Pre -retirement Death Benefit 65,526 0 as % of payroll 10.11 % 0.00% Proposed Ordinance Provisions 83,941 0 0.00% as % of payroll 12.96% The proposed ordinance includes the following cost items: • Normal Retirement at Age 55 with 10 years of service • Service Connected Disability is the greater of the accrued benefit or 42% of Average Final Compensation (AFC). • Non Service Connected Disability is the greater of 2% times AFC times years of credited service or 25% of AFC. Cost of Living Increase of .5% on October 1 of every odd -numbered year to current and future pensioners who have been in�pay status at least one year on that date. Pre -retirement death benefit df the accrued benefit payable at what would have been early or normal retirement age, less any amounts otherwise payable prior to that date. The premium tax refund from the state was assumed to be $88,563 for purposes of determining the remaining amount due from the City. If we can be of further assistance, please contact us. Sincerely, Theora P. Braccialarghe, FSA Senior Consultant & Actuary TPB:aI Cc: Scott Christiansen, Esq. ORDINANCE NO. 749 AN ORDINANCE OF THE CITY OF OKEECHOBEE AMENDING AND RESTATING THE CITY OF OKEECHOBEE RETIREMENT SYSTEM FOR POLICE OFFICERS AS ADOPTED BY ORDINANCE 657 AND AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCES AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE - RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONALS; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NON - ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY; PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City,of Okeechobee Police Officers are presently provided pension and certain other benefits under Ordinances of the City of Okeechobee and; WHEREAS, the City Council desires to clarify and restate the provisions of the Police Officers' Retirement Plan to consolidate all prior ordinances and Code provisions and to incorporate Federal law and the current applicable provisions of Chapter 185, Florida Statutes; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA: SECTION 1: That the City of Okeechobee Retirement System for Police Officers as adopted by Ordinance 657 and as subsequently amended, is amended and restated as set forth in the document designated CITY OF OKEECHOBEE MUNICIPAL POLICE OFFICERS' PENSION TRUST FUND, attached hereto and made a part hereof. SECTION 2: Specific authority is hereby granted to codify and incorporate this Ordinance in the existing Code of Ordinances of the City of Okeechobee. SECTION 3: All Ordinances or parts of Ordinances in conflict herewith be and the same are hereby repealed. SECTION 4: If any section, subsection, sentence, clause, phrase of this 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 5: That this Ordinance shall become effective upon adoption, except provisions for compliance with Chapter 185, Florida Statutes, shall be effective retroactively to December 31, 1999. Introduced on first reading and set for public hearing this day of 2000. ATTEST: CITY CLERK MAYOR Passed on second and final reading this day of , 2000. MAYOR ATTEST: CITY CLERK TABLE OF CONTENTS SECTION PAGE DEFINITIONS 1 MEMBERSHIP 4 BOARD OF TRUSTEES 5 FINANCES AND FUND MANAGEMENT 7 CONTRIBUTIONS 13 BENEFIT AMOUNTS AND ELIGIBILITY 14 DEATH BENEFITS 16 DISABILITY 17 VESTING 26 OPTIONAL FORMS OF BENEFITS 27 BENEFICIARIES 31 CLAIMS PROCEDURES 31 REPORTS TO DIVISION OF RETIREMENT 32 ROSTER OF RETIREES 33 MAXIMUM PENSION 33 DISTRIBUTIONS OF BENEFITS 37 MISCELLANEOUS PROVISIONS 38 REPEAL OR TERMINATION OF SYSTEM 39 EXEMPTION FROM EXECUTION, NON -ASSIGNABILITY 43 PENSION VALIDITY 43 FORFEITURE OF PENSION 43 CONVICTION AND FORFEITURE; FALSE, MISLEADING OR FRAUDULENT STATEMENTS 45 INDEMNIFICATION 45 TRANSFERS WITHIN THE CITY 46 MILITARY SERVICE PRIOR TO EMPLOYMENT 46 DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS 47 CITY OF OKEECHOBEE MUNICIPAL POLICE OFFICERS' PENSION TRUST FUND 1. As used herein, unless otherwise defined or required by the context, the following words and phrases shall have the meaning indicated: Accumulated Contributions means a Member's own contributions with interest at the rate of five and one -quarter percent (5-1/4 %) per annum through September 30, 1993 and four and one -quarter percent (4.25 %) per annum thereafter. For those Members who purchase Credited Service at no cost to the System, pursuant to Sections 25 mid 26, only that portion of any payment representing the sum that he would have contributed had he been a Member of the System for the years for which he is requesting credit, shall be included in Accumulated Contributions. r1 Tr^ TT A" aa.V(allJ UlV Laal�J1V +�Vaaaystl LA.-L'aV SVVYJ.1. Ly il.., T:L1..V...V.r� Exi A.L „ f 1934 (rL. 90-397) u..1 c...y .V�..1u1�Y,...7 aa.l�V. Ly �aV DVyc.. L.....a�. 'Vf L,1.. p.ld U.V 4S Y at Sta L Ciald YaVJV regalatiY,..j J1.0 LV a....,.&d%,d. Actuarial Equivalent means that any benefit payable under the terms of this System in a form other than the normal form of benefit shall have the same actuarial present value on the date payment commences as the normal form of benefit. For purposes of establishing the actuarial present value of any form of payment other than a lump sum distribution, all future payments shall be discounted for interest and mortality by using eight percent (8 %) interest and the 1983 Group Annuity Mortality Table for Males. Average Final ComIgnsation means one -twelfth (1/12) of the average Salary of the five (5) best years of the last ten (10) years of Credited Service prior to Retirement, termination, or death, or the career average as a full-time Police Officer, whichever is greater. A year shall be twelve (12) consecutive months. 1 Beneficiary means the person or persons entitled to receive benefits hereunder at the death of a Member who has or have been designated in writing by the Member and filed with the Board. If no such designation is in effect, or if no person so designated is living, at the time of death of the Member, the Beneficiary shall be the estate of the Member. Board means the Board of Trustees, which shall administer and manage the System herein provided and serve as trustees of the Fund. City means City of Okeechobee, Florida. Code means the Internal Revenue Code of 1986, as amended from time to time. Credited Service means the total number of years and fractional parts of years of service as a Police Officer with Member contributions when required, omitting intervening years or fractional parts of years when such Member was not employed by the City as a Police Officer. A Member may voluntarily leave his Accumulated Contributions in the Fund for a period of five (5) years after leaving the employ of the Police Department pending the possibility of being reemployed as a Police Officer, without losing credit for the time that he was a Member of the System. If the a vested Member leaves the employ of the Police Department, his Accumulated Contributions will be returned Qnly upon his written request. If a Member who is not vested is not reemployed as a Police Officer with the Police Department within five (5) years, his Accumulated Contributions shall be remmed Upon return of his Accumulated Contributions, all of his rights and benefits under the System are forfeited and terminated. Upon any reemployment a Police Officer shall no receive credit for the years and fractional 12arts of years of service for which he has withdrawn his Accumulated Contributions from the Fund, unless the Police Officer repa2s into the Fund the contributions he has M(ithdrawn. with interest, as determined by the Board, within ninety (9Q) days after his reemployment. The years or fractional parts of years that a Police Officer serves in the military service of the Armed Forces of the United States.. or the United States Merchant Marine or the United States Coast Guard, voluntarily or involuntarily, after separation from employment as a Police Officer with the City for the purpose of going on active duty, shall be added to his years of 2 Credited Service, for all purposes, including vesting, tm ,,V..dition4 d L k.., .vy.a.a.. 1 .,. r.....:it..1../.1.,. Jt< L �,Ad LJv.,J L,, u; u...,,..1.,1 LWAA. "4%, t., ti...,,, provided that: A, The Police Officer must return to his employment as a Police Officer within one (1) year from the date of his military discharge or release from active service under hc,jL u.L Llv vv,,ditions. ITW'on, • -r -• • rr• • u r r• r • • •r • -- fir' a<. rr n • • • u ,� r. • .r 01111FIMIRIPM11,01,M11 Effective Date means Hie t., ,,.. VV1.:,,1. d :a Agril 20, Fund means the trust fund established herein as part of the System. Member means an actively employed Police Officer who fulfills the prescribed membership requirements. Benefit improvements which, in the past, have been provided for by amendments to the System adopted by City ordinance, and any benefit improvements which might be made in the future shall apply prospectively and shall not apply to Members who terminate employment or who retire prior to the effective date of any ordinance adopting such benefit improvements, unless such ordinance specifically provides to the contrary. Plan Year means the twelve (12) month period beginning October 1 and ending September 30 of the following year. Police Officer means'an actively employed full-time person, employed by the City, including his initial probationary employment period, who is certified as a Police Officer as a condition of employment in accordance with the provisions of §943.1395, Florida Statutes, who is vested with authority to bear arms and make arrests, and whose primary responsibility is the prevention and detection of crime or the enforcement of the penal, traffic, or highway laws of the State of Florida. Retire means a Member who has entered Retirement Status. 10 Retirement means a Member's separation from City employment with eligibility for immediate receipt of benefits under the System. Sala s means the total compensation for services rendered to the City as a Police Officer reported on the Member's W-2 form plus all tax deferred, tax sheltered and tax exempt items of income derived from elective employee payroll deductions or salary reductions. Compensation in excess of the limitations set forth in Section 401(a)(17) of the Code shall be disregarded. The limitation on compensation for an "eligible employee" shall not be less than the amount which was allowed to be taken into account hereunder as in effect on July 1, 1993. "Eligible employee" is an individual who was a Member before the first Plan year beginning after December 31, 1995. Spouse means the lawful wife or husband of a Member or Retiree at the time of p.e- benefits become payable. Sysicm means the City of Okeechobee Municipal Police Officers' Pension Trust Fund as contained herein and all amendments thereto. NNIENTU=• -TI• The masculine gender, where used herein, unless the context specifically requires otherwise, shall include both the feminine and masculine genders. •,• MI • A. All Police Officers as of the Effective Date, and all future new Police Officers, shall become Members of this System as a condition of employment. B. All future new Police Officers shall be required to complete a medical examination as prescribed by the City. Each Police Officer shall complete a form prescribed by the Board providing for the designation of a Beneficiary or Beneficiaries. 4 1—, i J.i 111.Vll.VVl laa4y 11 V111 CL"l.V L" LLYa- yll(..YYb'V I" JV.IA*r aY�WJ Dva/vy.k►y Ly wai`LVaa notice to Y4V DV40LJ Yt,Vla L. Yl AJ lJiV P.JJ Ly dlV DV41J. V./Vll 4%JJ. J.QAAC,.,y, my Ay61 Vl yL%,, AV..oly . y.u�lawty.l D,..:.,11y.Gal iv., tV lyyy.YV ally L',.Y♦-1-k6 \a1a& daV .sy.,l.,aa• .ala�all yvCaJ rr. 1. The sole and exclusive administration of and responsibility for the proper operation of the System and for making effective the provisions of this ordinance arc is hereby vested in a Board of Trustees. The Board of Trustees is hereby designated as the plan administrator. The Board �,f Tival-.., shall consist of five (5) Trustees, two (4 of whom, unless otherwise prohibited by law, shall be legal residents of the City, who shall be appointed by the Okeechobee City Council, and two M of whom shall be full-time Police Officer 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 fV. a t..., (2-) ,"A ty.... by a majority of the previous four fA) Trustees as provided for herein, and such person's name shall be submitted to the Okeechobee City Council. Upon receipt of the fifth person's name, the Okeechobee City Council 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 fA) Trustees appointed or elected as herein provided and shall serve a two (2) year term unless ll.., a11J llluy au%,V<,VJ LL&,,a%,lf ;,, he sooner vacates the office. Each resident Trustee shall serve as Trustee for a period of two (2) years, unless hr, sooner vacates the officer or is sooner replaced by the Okeechobee City Council at whose pleasure the 'T1ll; lyy h� shall serve;�nJ .l,ay JYVVV411:::,.;;,li' 4; c: T::;;tV y. Each Police Officer Meet Trustee shall serve as Trustee for a period of two (2) years, unless he sooner leaves the employment of the City as a Police Officer or otherwise vacates his office as Trustee, whereupon a successor shall be chosen in the same manner as the departing Trustee. Each mice effi TIIIs may succeed himself in office. The Board shall establish and administer the nominating and election procedures after each election The Board Vf T),L a"; shall meet at least quarterly each year. The Board .,f T...,t,,,,s shall be a legal entity with, in addition to 1i other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. 2. The Trustees shall, by a majority vote, elect a Chairman and a Secretary. The Secretary of the Board shall keep a complete minute book of the actions, proceedings, or hearings of the Board. The Trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law. 3. Each Trustee shall be entitled to one Ali vote on the Board. Three (3) affirmative votes shall be necessary for any decision by the Trustees at any meeting of the Board. A Trustee shall have the right to abstain from voting as the result of a conflict of interest provided that Trustee complies with the provisions of Section 112.3143, Florida Statutes. 4. The Board shall engage such actuarial, accounting, legal, and other services as shall be required to transact the business of the System. The compensation of all persons engaged by the Board and all other expenses of the Board necessary for the operation of the System shall be paid from the Fund at such rates and in such amounts as the Board shall agree. In the event the Board chooses to use the C'ity's legal counsel, act or other professional. technical or other advisors, it shall do so only under terms and conditions acceptable to the Board 5. The duties and responsibilities of the Board shall include, but not necessarily be limited to, the following: A. To construe the provisions of the System and determine all questions arising thereunder. B. To detdrmine all questions relating to eligibility and membership. 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 Members, at regular intervals, information concerning the System. F. To receive and process all applications for ...J 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 and Fund. H. To have performed actuarial studies and valuations, at least as often as required by law, and make recommendations regarding any and all changes in the provisions of the System. I. To perform such other duties as are required to prudently administer the System 1. As part of the System, there exists the Fund, into which shall be deposited all of the contributions and assets whatsoever attributable to the System. 2. The actual custody and supervision of the Fund (and assets thereof) shall be vested in the Board. Payment of benefits and disbursements from the Fund shall be made by the disbursing agent but only upon written authorization from the Board. 3. All funds of the Municipal Police Officers' Pension Trust Fund may be deposited by the Board with the Finance Director of the City, acting in a ministerial capacity only, who shall be liable in the same manner and to the same extent as he is liable for the safekeeping of 1. funds for the City. However, any funds so deposited with the Finance Director of the City shall be kept in a separate fund by the Finance Director or clearly identified as such funds of the Municipal Police Officers' Pension Trust Fund. In lieu thereof, the Board shall deposit the funds of the Municipal Police Officers' Pension Trust Fund in a qualified public depository as defined in §280.02, Florida Statutes, which depository with regard to such funds shall conform to and be bound by all of the provisions of Chapter 280, Florida Statutes. In order to fulfill its investment responsibilities as set forth herein, the Board may retain the services of a V7 custodian bank, an investment advisor registered under the Investment Advisors Act of 1940 or otherwise exempt from such required registration, an insurance company, or a combination of these, for the purposes of investment decisions and management. Such investment manager shall have discretion, subject to any guidelines as prescribed by the Board, in the investment of all Fund assets. 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 amounts 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. An audit shall be performed annually by a certified public accountant for the most recent fiscal year of the City System showing a detailed listing. of assets and a statement of all income and disbursements during the year. Such income and disbursements must be reconciled with the assets at the beginning and end of the year. Such report shall reflect a com- plete evaluation of assets od both a cost and market basis, as well as other items normally included in a certified audit. 6. The Board shall have the following investment powers and authority: A. The Board shall be vested with full legal title to said Fund, subject, however, and in any event to the authority and power of the Okeechobee City Council to amend or terminate this Fund, provided that no amendment or Fund termination shall ever result in the use of any assets L-*J n of this Fund except for the payment of regular expenses and benefits under this System, except as otherwise provided herein. All contribu- tions 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. All monies paid into or held in the Fund shall be invested and reinvested by the Board and the investment of all or any part of such funds shall be limited to: (1) Annuity and life insurance contracts with life insurance companies in amounts sufficient to provide, in whole or in part, the benefits to which all of the Members in the Fund shall be entitled under the provisions of this System and pay the initial and subsequent premium thereon. (2) Time or savings accounts of a national bank, a state bank insured by the Bank Insurance Fund or a savings/building and loan association insured by the Savings Association Insurance Fund which is administered by the Federal Deposit Insurance Corporation or a state or federal chartered credit union whose share accounts are insured by the National Credit Union Share Insurance Fund. (3) Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United States or by an agency of the government of the United States. (4) Bonds issued by the State of Israel. (5) Stocks, commingled funds administered by national or state banks, mutual funds and bonds or other evidences of indebted- ness, provided that: 9 • (a) Except as provided in paragraph (b), all individually held securities and all securities in a commingled or'mutual fund must be issued or guaranteed by a corporation organized under the laws of the United States, any state or organized territory of the United States, or the District of Columbia. (b) Up to ten percent (10%) of the assets of the Fund may be invested in foreign securities. (c) The Board shall not invest more than five percent (5 %) of its assets in the common stock, capital stock or convertible securities of any one issuing company, nor shall the aggregate investment in any one issuing company exceed five percent (5 %) of the outstanding capital stock of that company; nor shall the aggregate of its investments in common stock, capital stock and convertible securities at cost exceed sixty percent (60%) of the assets of the Fund. (6) Real estate, provided the Board shall not invest more than ten percent (10%) at cost in real property or real estate. At least once every three (3) years. and more often as determined b, the Board, the Board shall retain a professionally qualified inder&ndent consultant- as defined in Section 185.06. Florida Statutes, to evaluate the performance of all current investment managers and make recommendations regardong the retention of all such investment n.�.• These recommendationsh, be •n• • by :•. • . its next regularly scheduled meeting, The Board may retain in cash and keep unproductive of income such amount of the Fund as it may deem advisable, having regard for the cash requirements of the System. 10 E,, Neither the Board nor any Trustee 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. E— E+ 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 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 or powers of attorney with or without power of substitution; to participate in mergers, reorganizations, recapitaliza- tions, 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 powers of an owner with respect to stocks, bonds, or other investments comprising the Fund which it may deem to be to the best interest of the Fund to exercise. The Board shall not be required to make any inventory or appraisal or report to any court, nor to secure any order of court for the exercise of any power contained herein. $: L 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 11 • • Member, the City, or any other entity, of specific information, certifica- tion, 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. 1: L Any overpayments or underpayments from the Fund to a Member, Retiree or Beneficiary caused by errors of computation shall be adjusted with interest at a rate per annum approved by the Board in such a manner that the Actuarial Equivalent of the benefit to which the Member, Retiree or Beneficiary was correctly entitled, shall be paid. Overpayments shall be charged against payments next succeeding the correction or collected in another manner if prudent. Underpayments shall be made up from the Fund in a prudent manner. $,,. The Board shall sustain no liability whatsoever for the sufficiency of the Fund to meet the payments and benefits provided for herein. K—. I,,, In any application to or proceeding or action in the courts, only the Board shall be a necessary party, and no Member or other person having an interest in the Fund shall be entitled to any notice or service of process. Any judgment entered in such a proceeding or action shall be conclusive upon all persons. M. Any of the foregoing powers and functions reposed in the Board may be perforrhed 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. 12 A. Amount. Each Members- of the System shall be required to make regular contributions to the Fund in the amount of five percent (5 %) of his Salary. Member contributions withheld by the City on behalf of the Member shall be deposited with the Board a LUA ...Malay immediately after each }day period. The contributions made by each Member to the Fund shall be designated as employer contributions pursuant to §414(h) of the LAL..1.Z P.V v.,..u., Code of 198 . Such designation is contingent upon the contributions being excluded from the Members' gross income for Federal Income Tax purposes. For all other purposes of the System, such contributions shall be considered to be Member contributions. B. Method. Such contributions shall be made by payroll deduction. an 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 Police Officers of the City shall be deposited in the Fund comprising part of this System immediately and under no circumstances more than five (5) days after receipt by the City. So long as this System is in effect, the City shall make quarterly contributions to the Fund in an amount equal to the difference in each year, between the total aggregate Member contributions for the'year, plus state contributions for such year, and the total cost for the year, as shown by the most recent 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 past service liability r,.�, « fM ty (-.a) y.,ul r:,.:.,.1, VVl!!!!lV llVlll6 .V:ll. a- fiscal jv"L :ll NYlliVll Q,� 1:1'TVV1:�V DGu�. „f ll.:.3 Syal:,l.. Vt.Vl.li1 as, provided in Part VII of Chapter 112. 13 • • 4. Other. Private donations, gifts and contributions may be deposited to the Fund, but such deposits must be accounted for separately and kept on a segregated bookkeeping basis. Funds arising from these sources may be used only for additional benefits for Members, as determined by the Board, and may not be used to reduce what would have otherwise been required City contributions. I � p.�a: - 1 1� - 17 , 67 M- A Member's normal retirement date shall be the first day of the month coincident with, or the next following the earlier of the attainment of age sixty-(66) fift-five 52 and the completion of ten (10) years of Credited Service, or upon the completion of twenty-five (25) years of Credited Service regardless of age. A Member may retire on his normal retirement date or on the first day of any month thereafter, and each Member shall become one hundred but 4100%) vested in his accrued benefit on the Member's normal retirement date. Normal retirement under the System is Retirement from employment with the City on or after the normal retirement date. A Member retiring hereunder on or after his normal retirement date shall receive a monthly benefit which shall commence on the first day of the month coincident with or next following his Retirement and be continued thereafter during Member's lifetime, ceasing upon death, but with one hundre4 twenty (120) monthly payments guaranteed in any event. The monthly retirement benefit shall equal three percent (3 %) of Average Final Compensation, for each year of Credited Service. A Member may retire on his early retirement date which shall be the first day of any month coincident with or next following the attainment of age fifty (50) and the completion of ten (10) years of Credited Service. Early retirement under the System is 14 $etirement from employment with the City on or after the early retirement date and prior to the normal retirement date. A Member retiring hereunder on his early retirement date may receive either a deferred or an immediate monthly retirement benefit payable in the same form as for normal retirement as follows: A. A deferred monthly retirement benefit which shall commence on what would have been his normal retirement date 1.«d 1.. ,..,..L:..-: d "a"A;1 %,. ,Off.,,,,, determined based upon his actual years of Credited Service, and shall be continued on the first day of each month thereafter. The amount of each such deferred monthly retirement benefit shall be determined in the same manner as for retirement on his normal retirement date, determined based upon his actual ,years of Credited Service, except that Credited Service and Average Final Compensation shall be determined as of his early retirement date; or B. An immediate monthly retirement benefit which shall commence on his early retirement date and shall be continued on the first day of each month thereafter. The benefit payable shall be as determined in paragraph A above, which is reduced by three percent (3 %) for each year the commencement of benefits precedes the date which would have been the Member's normal retirement date LJ 11,. , .,AuAALA %,..,rlVyA&M.&.t aa a I�,L,,,, 01T. �, determined based upon his actual years of Credited Service. F�*?$Tmf a 9 M r, - 15 71 MT r M. 0 MIMI 4 1- i r • • 1 1 1 . 1 The Beneficiary of a deceased Member who was not receiving monthly benefit payments, or who was not yet vested or eligible for early or normal Retirement shall receive a refund of one hundred percent (100%) of the Member's Accumulated Contributions. 2. Deceased Members Vested or Eligible for Retirement. Any Member, whether or not still actively employed, who has a right to a vested accrued benefit, shall be eligible for a death benefit if he dies before collecting any other benefits from this System. The amount of the death benefit shall be equal to fifty percent (50%) of the actuarially equivalent single sum value of the Member's vested accrued benefit or his Accumulated Contributions, whichever is greater. If this single sum value is less than $3,500 five thousand dollars ($5,000), it shall be paid in a lump sum. If the value exceeds $3 ,500 five thousand dollars ($55,000), the Beneficiary may elect payment under any of the optional forms available for retirement benefits or a lump sum payment. If a Member is eligible for early or normal retirement, but remains in employment and dies while so employed, the death benefit shall be determined as follows: It shall be assumed that such deceased Member had retired immediately preceding his date of death and elected the Ten Year Certain and Life Thereafter option. However, the death benefit shall be equal to fifty percent (50%) of the actuarially equivalent single sum value of the Member's vested accrued benefit, if larger than the Ten Year Certain and Life Thereafter Option, described earlier in this Section. 16 cc -lief 1 • In• • I" • 11" 1 I' 1 " r. I • de eased U 111" or normal • 11 1MPTURNTIMMelf. 1 I 1 I •< •• •. I- 1 I 01nmi0mi I 1 Any Member who shall become totally and permanently disabled to the extent that he is unable, by reason of a medically determinable physical or mental impairment, to render useful and efficient service as a Police Officer, which disability was directly caused by the performance of his duty as a Police Officer, shall, upon establishing the same to the satisfaction of the Board, be entitled to a monthly pension da.,........1:.. IL..,a.ly JLIL....n.aaZ cu J..t fVLa& "A O%IVL:W.. 5, ouL�.,.,Z:v:. Q equal to three percent Q %) of his Average Final Compensation multiplied by the total years of Credited Service, but in any event, the minimum amount paid to the Member shall be forty-two percent (42%) of the Average Final Compensation of the Member. Terminated persons, either vested or non -vested, are not eligible for disability benefits, except that those terminated by the City for medical reasons may apply for a disability within thirty (30) days after termination. 2. In-L-ine of Duty Presumptions. A. Presumption. Any condition or impairment of health of a Member caused by; hypertension or heart disease shall be presumed to have been suffered in line of duty unless the contrary is shown by competent evidence, provided that such IV,:,., 01T.... MembeY shall have success- fully passed a physical examination upon entering into such service, including cardiogram, which examination failed to reveal any evidence of such condition; and provided further, that such presumption shall not apply to benefits payable or granted in a policy of life insurance or dis- ability insurance. 17 B. Addition Presumption. The presumption provided for in this subpara- graph B. shall apply only to those conditions described in this subpara- graph B. that are diagnosed on or after January 1, 1996. (1) Definitions. As used in this subsection 2.B., the following definitions apply: (a) "Body fluids" means blood and body fluids containing visible blood and other body fluids to which universal precautions for prevention of occupational transmission of blood -borne pathogens, as established by the Centers for Disease Control, apply. For purposes of potential transmission of meningococcal meningitis or tuberculosis, the term "body fluids" includes respiratory, salivary, and sinus fluids, including droplets, sputum, and saliva, mucous, and other fluids through which infectious airborne organisms can be transmitted between persons. (b) "Emergency rescue or public safety Member" means any Member employed full time by the City as a firefighter, paramedic, emergency medical technician, law enforce- ment officer, or correctional officer %vho, in the course of employment, runs a high risk of occupational exposure to hepatitis, meningococcal meningitis, or tuberculosis and who is not employed elsewhere in a similar capacity. However, the term "emergency rescue or public safety Member" does not include any person employed by a public hospital licensed under Chapter 395, Florida Statutes, or any person employed by a subsidiary thereof. 18 (c) "Hepatitis" means hepatitis A, hepatitis B, hepatitis -non-A, hepatitis non-B, hepatitis C, or any other strain of hepatitis generally recognized by the medical community. (d) "High risk of occupational exposure" means that risk that is incurred because a person subject to the provisions of this subsection, in performing the basic duties associated with his employment: i. Provides emergency medical treatment in a non - health -care setting where there is a potential for transfer of body fluids between persons; ii. At the site of an accident, fire, or other rescue or public safety operation, or in an emergency rescue or public safety vehicle, handles body fluids in or out of containers or works with or otherwise handles needles or other sharp instruments exposed to body fluids; iii. Engages in the pursuit, apprehension, and arrest of law violators or suspected law violators and, in performing such duties, may be exposed to body fluids; or iv. Is responsible for the custody, and physical restraint when necessary, of prisoners or inmates within a prison, jail, or other criminal detention facility, while on work detail outside the facility, or while being transported and, in performing such duties, may be exposed to body fluids. 19 Cl • (e) "Occupational exposure," in the case of hepatitis, meningococcal meningitis, or tuberculosis, means an exposure that occurs during the performance of job duties that may place a worker at risk of infection. (2) Presumption. Any emergency rescue or public safety Member who suffers a condition or impairment of health that is caused by hepatitis, meningococcal meningitis, or tuberculosis, that requires medical treatment, and death shall be presumed to have a disability suffered in the line of duty, unless the contrary is shown by competent evidence; however, in order to be entitled to the presumption, the Member must, by written affidavit as provided in Section 92.50, Florida Statutes, verify by written declaration that, to the best of his knowledge and belief: (a) In the case of a medical condition caused by or derived from hepatitis, he has not: i. Been exposed, through transfer of bodily fluids, to any person known to have sickness or medical conditions derived from hepatitis, outside the scope of his employment; ii. Had a transfusion of blood or blood components, other than a transfusion arising out of an accident or injury happening in connection with his present employment, or received any blood products for the treatment of a coagulation disorder since last undergoing medical tests for hepatitis, which tests failed to indicate the presence of hepatitis; 20 ii. Engaged in unsafe sexual practices or other high - risk behavior, as identified by the Centers for Disease Control or the Surgeon General of the United States or had sexual relations with a person known to him to have engaged in such unsafe sexual practices or other high -risk behavior; or iv. Used intravenous drugs not prescribed by a physician. (b) In the case of meningococcal meningitis, in the 10 days immediately preceding diagnosis he was not exposed, outside the scope of his employment, to any person known to have meningococcal meningitis or known to be an asymptomatic carrier of the disease. (c) In the case of tuberculosis, in the period of time since the Member's last negative tuberculosis skin test, he has not been exposed, outside the scope of his employment, to any person known by him to have tuberculosis. (3) Immunization. Whenever any standard, medically recognized vaccine or other form of immunization or prophylaxis exists for the prevention of a communicable disease for which a presump- "lion is granted under this Section, if medically indicated in the given circumstances pursuant to immunization policies established by the Advisory Committee on Immunization Practices of the U.S. Public Health Service, an emergency rescue or public safety Member may be required by the City to undergo the immunization or prophylaxis unless the Member's physician determines in writing that the immunization or other prophylaxis 21 • • would pose a significant risk to the Member's health. -Absent such written declaration, failure or refusal by an emergency rescue or public safety Member to undergo such immunization or prophylaxis disqualifies the Member from the benefits of the presumption. (4) Record of Exposures. The City shall maintain a record of any known or reasonably suspected exposure of an emergency rescue or public safety Member in its employ to the disease described in this Section and shall immediately notify the Member of such exposure. An emergency rescue or public safety Member shall file an incident or accident report with the City of each instance of known or suspected occupational exposure to hepatitis infection, meningococcal meningitis, or tuberculosis. (5) Required medical tests; preemployment physical. In order to be entitled to the presumption provided by this Section: (a) An emergency rescue or public safety Member must, prior to diagnosis, have undergone standard, medically accept- able tests for evidence of the communicable disease for which the presumption is sought, or evidence of medical conditions derived therefrom, which tests fail to indicate the presence of infection. This paragraph does not apply in the case of meningococcal meningitis. (b) On or after June 15, 1995, an emergency rescue or public safety Member may be required to undergo a preemployment physical examination that tests for and fails to reveal any evidence of hepatitis or tuberculosis. 22 3. Disability Benefitc Not in ine of D t�. Any Member with five (5) years or more Credited Service who shall become totally and permanently disabled to the extent that he is unable, by reason of a medically deter- minable physical or mental impairment, to render useful and efficient service as a Police Officer, which disability is not directly caused by the performance of his duties as a Police Officer shall, upon establishing the same to the satisfaction of the Board, be entitled to a monthly pension equal to hP ereater of (i) or (u) where (j) is t<=�o percen ( %Lof Ave QP Final Compensation multiplied by the total V= of Credited ServiCe a,,,, (lt) is a benefit determined in the same manner as for early retirement as set forth in Section 6, subsection 4B�, but In any event, the minimum amount paid to the Member shall be twenty-five percent (25 %) of his Average Final Compensation. Terminated persons, either vested or non -vested, are not eligible for disability benefits, except that those terminated by the City for medical reasons may apply for a disability within thirty (30) days after termination. 4. Conditions Dicauali , in Dizability Benefitc. Each Member who is claiming disability benefits shall establish, to the satisfaction of the Board, that such disability was nod occasioned primarily by: A. Excessive or habitual use of any drugs, intoxicants, or atcohol narcotics. B. Injury or disease sustained while willfully and illegally participating in fights, riots or civil insurrections- C. L,jLA.y V, d;3"4% ;,,,k,;,,1d 9r while committing a crime. D L Injury`pr disease sustained while serving in any branch of the Armed Forces. D,, Injury or disease sustained by the Member after his employment as a Police Officer with the City Okeechobee shall have terminated. a.f..:;Lv,.cal ..I1J Vt/1,1u,,t .,. 61„�� 11V�41g VIIVV VT {l�V 23 Injury or disease sustained by the Member while working for anyone other than the City and arising out of such employment. II. A ►,V.A%2► %,l. F LV...V,\:�l:l.� d.� PL,L',.� OTIxV\ 1'� ......L,,.�l.:r :.. a&%, ysterir. No-Ri,,...L\,. )11Q11 L. V1tL:d.,J iV a J:.3aL:L'ty yV..o►A, W:.V1..,&:.. lul\, of ►.,f► :l. 1:11„ %if July, L\,�,QujV Vf Vl J"%o tV tl.V oFJVVi1lVrUAJµly, Lll�/(LL1111V11� Vl V�lVl 11lVJlVQl VVl{J1t1V11 FJ1V"V1\1J�1ro t1111►. %J 111V111LV1J1l1FJ 111 Jle_SYSLVill, FJ1V ViJV4 �Y�14 Jµ Vll FJA%l *141lStirfg VV.1Jit1V1. QiIJ 1La 1V1Q t1V11Ji LLFJ tV Q 1a1V1 4lJ µYy, u11F/Q111116o11t Vl Wfl Vx niedi al VV11\i1taV11 LV �.oiQLLA.VJ Ly u ouL�- uuQl vident'� d1:11� 1,,,1►.:lY �l.�,ll L., V►,�.�l. u.,J t` y.I'll J,. J:uL1:ty F,\.LLJ:VaI to --a .LoAAV1 //Y1�11V, Ql►Vl 111V1/1LV1 JIl:F, Ll �1V �y Jtbyll, Jµ Vl�l (µ. LlJ µly, 1111FlQLL111►.1,\ Vl 11 1V1 1..VJ:1.1d VV./J1 11- J1ffVl Vllt fl Vlll JVIllV V�1V1 L!J ►!l y, LLIF/Q1Ll lllVllt, VL �J{Vl lllVJlVQI VV11JlLV11 VA1J tlll� QI Vl F,L1V1 1V JQlu 11►V 111L V1`11..F.. 5. Physical Examination Requirement. A Member shall not become eligible for disability benefits until and unless he undergoes a physical examination by a qualified physician or physicians and/or surgeon or surgeons, who shall be selected by the Board for that purpose. The Board shall not select the Member's treating physician or surgeon for this purpose except in an unusual case where the Board determines that it would be reasonable and prudent to do so. Any Retiree receiving disability benefits under provisions of this ordinance may be periodically re-examined by a qualified physician or physicians and/or surgeon or surgeons who shall be selected by the Board, to determine if such disability has ceased to exist. If the Board finds that the Retiree is no longer permanently and totally disabled to the extent that he is unable to render useful and efficient service as a Police Officer, the Board shall recommend to the City that the Retiree be returned to performance of duty as a Police Officer, and the Retiree so returned shall enjoy the same rights that Member had at the time he was placed upon 24 pension. In the event the Retiree so ordered to return shall refuse to comply with the order within thirty (30) days from the issuance thereof, he shall forfeit the right to his pension. The cost of the physical examination and/or re-examination of the Member claiming or the Retiree receiving disability benefits shall be borne by the Fund. All other reasonable costs as determined by the Board incident to the physical examination, such as, but not limited to, transportation, meals and hotel accommodations, shall be borne by the Fund. If the Retiree recovers from disability and reenters the service of the City as a Police Officer, his service shall be deemed to have been continuous, and the period for which Member received a disability retirement income shall be Credited Service for purposes of the System. If the Retiree fails to reenter the service of the City as a Police Officer within thirty (30) days from the date the Board determines that the Retiree is no longer permanently and totally disabled to the extent that he is unable to render useful and efficient service as a Police Officer, the Retiree's future benefits shall be determined as though he initially terminated employment on the date the Board determined that he was permanently and totally disabled to the extent that he was unable to render useful and efficient service as a Police Officer. The Board shall have the power and authority to make the final decisions regarding all disability claims. 6. Disabilitymoments. The monthly benefit to which a Member is entitled in the event of the Member's disability retirement shall be payable on the first day of the first month after the Board deter- mines such entitlement. H"ever, the monthly retirement income shall be payable as of the date the Board determined such entitlement, and any portion due for a partial month shall be paid together with the first payment. The last payment will be: A. If the Retiree recovers from the disability prior to his normal retirement date, the payment due next preceding the date of such recovery, or 25 B. If the Retiree dies without recovering from disability or attains his normal retirement date while still disabled, the payment due next preceding his death or the 120th monthly payment, whichever is later. When a Retiree is receiving a disability pension and workers' compensation benefits pursuant to Florida Statute Chapter 440, for the same disability, and the total monthly benefits received from both exceed 100 % of the Member's average monthly wage, as defined in Chapter 440, Florida Statutes, the disability pension benefit shall be reduced so that the total monthly amount received by the Retiree does not exceed 100% of such average monthly wage. The amount of any lump sum workers' compensation payment shall be converted to an equivalent monthly benefit payable for ten (10) Years Certain by dividing the lump sum amount by 83.9692. Tl.:j J.A „.di U .:yt.4:.L1V t.. U." .A :t dw, ,j ::vi •..:..:.:.,.... lV�4LLV...V1fW "r Cl:ayt" 105, Notwithstanding the foregoing in no event shall the disabilitypension benefit be reduced below If a Member terminates his employment wide d %, D.,y".1.,,..ALL as a Police Officer, either voluntarily or by discharge, and is not eligible for any other benefits under this System, the Member shall be entitled to the following: 1. If the Member has less than ten (10) years Credited Service upon termination, the Member shall be entitled to a refund of his Accumulated Contributions or the Member may leave it deposited with the Fund. 26 2. If the Member has ten (10) or more years of Credited Service upon termination, the Member shall be entitled to a monthly retirement benefit, determined in the same manner as for normal or early retirement and based upon the Member's Credited Service, Average Final Compensation and the benefit accrual rate as of the date of termination, payable to him commencing at the Member's otherwise normal or early retirement date, determined based upon his actual years of Credited Service, provided he does not elect to withdraw his Accumulated Contributions and provided the Member survives to his otherwise normal or early retirement date. If the Member does not withdraw his Accumulated Contributions and does not survive to his otherwise normal or early retirement date, his designated Beneficiary shall be entitled to a benefit as provided herein for a deceased Member, vested or eligible for Retirement under Pre -Retirement Death. 3. Any vested Member of the System whose position is terminated, for whatever reason, but who remains employed by the City in some other capacity, shall have all retirement benefits accrued up to the date of such termination under this System preserved, provided he does not elect to withdraw his Accumulated Contributions from this System. Such accrued retirement benefits shall be payable at his otherwise early (reduced as for early retirement) or normal retirement date hereunder, or later, in accordance with the provisions of this System; provided further, however, that benefits shall not be payable under this System during any period of continued employment by the City. 1. In lieu of thd,amount and form of retirement income payable in the event of normal or early retirement as specified herein, a FoticcE)fficer 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 modified monthly amount, payable to the Member Rare during the lifetime of the Member Retiree and following the death of the Member Retiree, one hundred =rcent (100U ceventY- 27 five percent (75 %), sixty-six and two-thirds (66 2/3 %) or fifty =rcent 450%1 of such monthly amount payable to a joint pensioner for his lifetime. Except where the Retiree's joint pensioner is his Spouse the present value of payments to the Retiree shall not be less than fifty percent (50%) of the total present value of payments to the Retiree and his joint pensioner. B. A retirement income of a modified monthly amount payable to the Police Officer Retiree for his lifetime only. 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. This option may be combined with other optional forms of benefit. 2. The Member, upon electing any option of this Section, will designate the joint pensioner (subsection I.A. above) or Beneficiary (or Beneficiaries) to receive the benefit, if any, payable under the System in the event of Member's death, and will have the power to change such designation from time to time. Such designation will name a joint pensioner or one W or more primary Beneficiaries where applicable. A Member may change his Beneficiary at any time. If a E fftcer Membe has elected an option with a joint pensioner .,. D,,11YL,,A"Ly and the Member's retirement income benefits have commenced, the Member may thereafter change his designated jvallt yw1J.Vllw V. DYllvl.bituy, Lug Vady U �llV 1Va►(�' l/utv4 DVY.Y.iV1G4� �,1 VYY v.i �!V l,iV\IILV. Vl it 11i1 JVJ.611C1�Y�1 DVIaVI.V.ill/y LLI �iVlIIL V. YY V.V 11141..VV "t Ll &&%, Vl AVli1L..14 .VLL V11l Vllt (llld "A%, 111'\,. VVY .:4L.iVl�YVJ11 �IVa VIV, provitlel aa1CaJ w �Yi.rlllLa.a Mla(Ua�b 1LJ V1 11.1 1VJabaaQl.,1 than Beneficiary at any time, but may only change his joint pensioner twice. Subject to the restriction in the previous sentence, a Member may substitute a new loin pensioner for a deceased joint pensioner. 3. The consent of a Bola,;, Off.,,,,.'a Member's or Retiree's joint pensioner or Beneficiary to any such change shall not be required. The rights of all previously -designated Beneficiaries to receive benefits under the System shall thereupon cease. 4. Upon change of a D%,aa.,L,,:a.y .,. Retiree's joint pensioner in accordance with this Section, 0., Dv.d 0-hall udjast-thc.,w,-Jdy L,,..,,rL Ly, G, :..J...,; the amount of the retirement income payable to the Retiree shall be actuarially redetermined to take into account the age of the former join pensioner, the new joint pensioner and the Retiree and to ensure that the benefit paid is the Actuarial Equivalent of the Member's then -current benefit at the time of the change. Any such iti.,a..L.. Retiree shall pay the actuarial recalculation expenses a.J .11.0 ...a1.. 1V,F4 Y..l�..L l,i "AA OVCIcZ�., Vf y...Y1.,.a�ly-ya:1 y....�:v..1:►..r l;La c..� a...�..11 vfS'tICi a... Gaa.ulai:v.w. Each request for a change will be made in writing on a form prepared by the Board and on completion will be filed with the Board. In the event that no designated Beneficiary survives the NE,,, Off.,,,,. Retiree, such benefits as are payable in the event of the death of the Officer Retiree subsequent to his Retirement shall be paid as provided in Section 11. 5. Retirement income payments shall be made under the option elected in accordance with the provisions of this Section and shall be subject to the following limitations: A. If a Poli;cc9fficer Member dies prior to his normal retirement date or early retirement date, whichever first occurs, no retirement benefit will be payable under the option to any person, but the benefits, if any, will be determined under Section 7. B. If the designated Beneficiary (or Beneficiaries) or joint pensioner dies before the I4,1:.,., Off. ,.,.'& Member's Retirement under the System, the 29 option elected will be canceled automatically and a retirement income of the normal form and amount will be payable to the Police E)fficer Member upon his Retirement as if the election had not been made, unless a new election is made in accordance with the provisions of this Section or a new Beneficiary is designated by the i'„l., ,, OTi'.,,,,. Member prior to his Retirement "A ,�:ll..:....:..,,ty C. If both the :.,' .,1 r.,l:,,,, OTf.,,,,. Retiree and the Beneficiary (or Benefi- � , W� ciaries) designated by Member or Retiree die before the full payment has been effected under any option providing for payments for a period certain and life thereafter, made pursuant to the provisions of subsection 1, the Board may, in its discretion, direct that the commuted value of the remaining payments be paid in a lump sum and in accordance with Section 11. D. If a Police Officer Member continues beyond his normal retirement date pursuant to the provisions of Section 6, Subsection 1, and dies prior to his actual retirement and while an option made pursuant to the provisions of this Section is in effect, monthly retirement income payments will be made, or a retirement benefit will be paid, under the option to a Beneficiary (or Beneficiaries) designated by the 1\LL, . Off.... Mimes in the amount or amounts computed as if the Police Officer Member had retired under the option on the date on which his death occurred. 6. A Police Officer may not change his retirement option after the date of cashing or depositing his first retirement check. 7. Notwithstanding anything herein to the contrary, the Board in its discretion, may elect to make a lump sum payment to a Member or a Member's Beneficiary in the event that the monthly benefit amount is less than one hundred dollars (1100.00) or the total commuted 30 value of the remaining monthly income payments to be paid do not exceed Three fi= thousand ri.,, II,:.:1:..d dollars ($3,500.-00) ($5,000.00). Any such payment made to any person pursuant to the power and discretion conferred upon the Board by the preceding sentence shall operate as a complete discharge of all obligations under the System with regard to such Member and shall not be subject to review by anyone, but shall be final, binding and conclusive on all persons. 1. Each r„1:.,,, Officer Member or Retiree may, on a form provided for that purpose, signed and filed with the Board, designate a Beneficiary (or Beneficiaries) to receive the benefit, if any, which may be payable in the event of his death,;-,md Each designation may be revoked or changed by such Member or Retiree by signing and filing with the Board a new designation -of -beneficiary form. Upon such change, the rights of all 2. If a deceasedpofice efficer faHs Member or Retiree failed to name a Beneficiary in the manner prescribed in subsection 1, or if the Beneficiary (or Beneficiaries) named by a deceased Police Officer Member or Retiree predeceases the NL,v Off.., . Member or Retiree, the death benefit, if any, which may be payable under the System with respect to such deceased Nl:.,., Officer Member or Retiree, shall be paid to the estate of the Member or Pmrpp nnri the Rnnrri in its dicrrPtinn mnv rlirPrt that the rnmmirtPrl vnbip of the rPmnininv �W"ifr • _• • . , i_ •_i Y:l!•RfTi��ilii • • - r. anyone but snail be rinat. binaing ano conclusive on an persons ever interestea nereanaer. SECTION 12. CLAIMS PROCEDURES. 1. The Board shall establish administrative claims procedures to be utilized in processing written requests ("claims"), on matters which affect the substantial rights of any 31 7' s person ("Claimant"), including Members, Retirees, Beneficiaries, or any person affected by a decision of the Board. 2. The Board shall have the power to subpoena and require the attendance of witnesses and the production of documents for discovery prior to and at any proceedings provided for in the Board's claims procedures. The Claimant may request in writing the issuance of subpoenas by the Board. A reasonable fee may be charged for the issuance of any subpoenas not to exceed the fees set forth in Florida Statutes. SECTION 13 REPORTS TO DIVISION OF RETIREMENT. Each year and no later than March 15th, the Cll":..::nl: Vf the Board shall file an Annual Report with the Division of Retirement containing the folly w:::b. documents and information required by Section 185 221, Florida Statutes. 'nF 1• ♦�'11V tlaVY L. LadYV c. a 15 ail VVYIItJLLLYIVV YYW.aiV yJYV Y LJe. .V1aJ Vl ClA .L 1V5-, 2. Lad OULVII IVLIt Vl LLV<V4li4ils 1V1 dlV aAAWa YVVVYIl YVUl Vf die eily-(or U1: J.:1VrVVl:t al:t Ly k a.a.YulaV1 Y::LLV pVVVa.latGuA. :i 'L q%,A::,,1 Ly ll:� DVra:I:::V::l Vf L:J:::a::VV D►Y.J:a,::.,r Pw�:�:::�::t) ol;vrY..;S c: a1� lu:la,a1 l:�l::;a vt c;yia to c:::a1 :::a,�:Va)J 4JarLl 1J •4ALAV tl/Vll► al:a1 a Jtpt✓:::v::t'Vf Taal u:a.a.r:::a. LN:ai .1:JLu:JV:::ay::tJ a1:::u16 tllV y%14". J4a.11 111VV111V cut� :tj �I:aHH bV LVVVi1V:1.1 '01 die aSSetMt dA%., L.r,:l:l::.:r, a::al V::al Vf flay yVca:. �. t�. J �Jt:V v,.1:1L:t J11V W:11g tl:ae 111.111LVL Vlrl�ll\.V O1/Ll.li1J V11 t11V 1VY1.V Vf dio Olty, a1V 11Li11lLV. L1V14�V\i �iyll �1V aJ,'Jtarlll, �1V 114lilL V• V�11VV O��VV1J 111V.16'1L l{I, b1Q 1JJl�1:V� iV LI1V AVUJla V1aJ al flk l" LVil/& 41V 1a6'LL1V, UAid &I 114111 %,A Vf nl-L1LVV4 Ullai �IVL i)v•avia V.Ui aVJ .VVV.L YLlr, 1JVy a111JaVal t/UALJ "aid aa..,U111VL...6 ,rQilll4Ul 1V�V1llVl/t LIVVIIIV V. rV.lJav,. yc:y:::V1:tJ ::.,reivel Ly ll-V — 4. A ,f J.-- u:u:;;::lt Ul, City 1:«:- %,V:Ia::L::'� d tV t1lV I'41.1 fVi day rl y 1 d i fli Chi v�:ll „,;::t::L t, t�; tl:.. I'::::1 LA Q:V V::::V.9 /ill VUi 4a• aV i.a lay Yalj/�� 1 ✓• If Q.ly La/YLV1AL C; — La341�...1 YYYt1Y a VVYYaIl1V.VJ� Y*Y1.iMlUllarV VVaIYtJ((�Yly, �lV .ViJVL� Jl.all 111V1LaiV u JLaz%1Alla.lf. r/ 1V AJ"LV1.J11Yt/ Vl U1V 111J41V1 LVA..i.L to-th'v La,a -F.6 rYv#AJ-d Ly 114J 32 Va �lilC{i1K�. �jyJ iVk!'Va` J1 0 ILV yV11 Y LLLVliiaia�Vat j Vu h,, ii{J4a ya, Uils 'V• ra yatu►tYat YK{.y J, 111Va tKl:iy 1KL1�, 111WYyJt YK�J KaIJ 11 W�Lll V�1 4Jy� Ll Yaluiil� iV Wyalavtai Lyiay�a�. 'V. Tlly Y'iytuAiiKi �alucitivii vl �,v ►rJ ;waaa dJ Y.4.r* vJ Zvi " Jv%,LwAA 3. Guyli aY�YGa:VIi J-0 Ly VAVk'"AyY LJY CLLL :J V1LLWIL1 Y1A1 f TiaLr 3 Vf i11V ElllylV,'\y P\V 4aylllylti L0. &&AV �yy411ty A%A Vl 1974 1J Q 111V111Ly/ Vf a., ►jV Viy�J Vl AaLs YlyJ Va �1V /11Y YyllyKla YkVK 'JyalaJ yi 11yt4K1ayJ. The Secretary of the Board shall keep a record of all persons enjoying a pension under the provisions of this ordinance in which it shall be noted the time when the pension is allowed and when the same shall cease to be paid. Additionally, the Secretary shall keep a record of all Police Officers employed by the Municipality in such a manner as to show the name, address, date of employment and date such employment is terminated. TLy DVCLi,I Li,ciy yi.Xk,lyy ;L1YytJyaiJy AYE ly ail yviLLaJyl «i LYAV 1rj��ltV111' VAt.VilJy fVl 4Ly �.41 tJVJVJ ..VlliLiLly4 llyl gall, iV y/�ayY wWt J4yla Va]1y/ yl VfyJJIVaIKl, ty-lia.* J Va V�ly1 a1 Y1JViJ az UlV D,.,Kad-11Vy111J lay yy JJKa� . Subject to the adjustments hereinafter set forth, the maximum amount of annual retirement income payable with respect to a Member under this System shall not exceed ninety thousand dollars ($90,000).`, For purposes of applying the above limitation, benefits payable in any form other than a straight life annuity with no ancillary benefits shall be adjusted, as provided by Treasury Regulations, so that such benefits are the Actuarial Equivalent of a straight life annuity. For purposes of this Section, the following benefits shall not be taken into account: (1) Any ancillary benefit which is not directly related to retirement income benefits; 33 0 • (2) Any other benefit not required under §415(b)(2) of the Code and Regulations thereunder to be taken into account for purposes of the limitation of §415(b)(1) of the Code. The limitation of this Section with respect to any Member who at any time has been a member in any other defined benefit plan (as defined in §4140) of the Code) maintained by the City shall apply as if the total benefits payable under all defined benefit plans in which the Member has been a member were payable from one W plan. A. In the event the Member's retirement benefits become payable before age sixty-two (62), the ninety thousand dollar ($90,000) limitation prescribed by this Section shall be reduced in accordance with Regulations issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the Code, but not less than seventy-five thousand dollars ($75,000), if the benefit begins at or after age fifty-five (55). In the event the Member's retirement benefit becomes payable before age fifty-five (55), the seventy-five thousand dollar ($75,000) limitation shall be reduced from age fifty-five (55) in accordance with Regulations issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the Code. B. In the event the Member's benefit is based on at least fifteen (15) years of Credited Service, the adjustments provided for in A. above shall not apply. C. The reductions provided for in A. above shall not be applicable to disability benefits paid pursuant to Section 8 or pre -retirement death benefits paid pursuant to Section 7. D. In the event the Member's retirement benefit becomes payable after age sixty-five (65), for purposes of determining whether this benefit meets 34 the limitation set forth in subsection 1 herein, such benefit shall be adjusted so that it is actuarially equivalent to the benefit beginning at age sixty-five ( 65). This adjustment shall be made using an assumed interest rate of five percent (5 %) and shall be made in' accordance with regulations promulgated by the Secretary of the Treasury or his delegate. M mokTIVIIIIWITIMT41 The maximum retirement benefits payable under this Section to any Member who has completed less than ten (10) years of Credited Service with the City shall be the amount determined under subsection 1 of this Section multiplied by a fraction, the numerator of which is the number of the Member's years of Credited Service and the denominator of which is ten (10). The reduction provided for in this subsection shall not be applicable to disability benefits paid pursuant to Section 8, or pre -retirement death benefits paid pursuant to Section 7. Notwithstanding the foregoing, the retirement benefit payable with .respect to a Member shall be deemed not to exceed the limitations set forth in this Section if the benefits payable, with respect to such Member under this System and under all other qualified defined benefit pension plans to which the City contributes, do not exceed ten thousand dollars ($10,000) for the applicable Plan Year and for any prior Plan Year and the City has not at any time maintained a qualified defined contribution plan in which the Member participated. In any case where a Member under this System is also a member in a "Defined Contribution Plan" as defined in §414(i) of the Code, maintained by the City, the sum of the "Defined Benefit Plan Fraction" and the "Defined Contribution Plan Fraction" (both as defined in §415(e) of the Code) shall not, subject to the restrictions and exceptions contained in §2004 of the Act, exceed 1.0. This limitation is repealed effective January 1, 2000. 35 7. Reduction of Benefits. Reduction of benefits and/or contributions to all plans, where required, shall be accomplished by first reducing the Member's benefit under any defined benefit plans in which Member participated, such reduction to be made first with respect to the plan in which Member most recently accrued benefits and thereafter in such priority as shall be determined by the Board and the plan administrator of such other plans, and next, by reducing or allocating excess forfeitures for defined contribution plans in which the Member participated, such reduction to be made first with respect to the plan in which Member most recently accrued benefits and thereafter in such priority as shall be established by the Board and the plan administrator for such other plans provided, however, that necessary reductions may be made in a different manner and priority pursuant to the agreement of the Board and the plan adminis- trator of all other plans covering such Member. 8. Cost -of -Living Adjustments. The limitations as stated in subsections 1, 2, 3, and 6 herein shall be adjusted to the time payment of a benefit begins in accordance with any cost -of -living adjustments prescribed by the Secretary of the Treasury pursuant to §415(d) of the Code. 9. Additional Limitation on Pension Benefits. Notwithstanding anything herein to the contrary: A. The normal retirement benefit or pension payable to a Retiree who becomes a Member of the System and who has not previously participated in such System, on or after January 1, 1980, shall not exceed one hundred percent (100 %) of his Average Final Compensation. However, nothing contained in this Section shall apply to supplemental retirement benefits or to pension increases attributable to cost -of -living increases or adjustments. B. No Member of the System shall be allowed to receive a retirement benefit or pension which is in part or in whole based upon any service with respect to which the Member is already receiving, or will receive in the future, a retirement benefit or pension from a different e=lover's retirement system or plan. This restriction does not apply to social security benefits or federal benefits under Chapter 67, Title 10, U.S. Code. SECTION id 16 DISTEMUTION OF BENEFITS. Notwithstanding any other provision of this System to the contrary, a form of retirement income payable from this System after the Effective Date of this ordinance, shall satisfy the following conditions: 1. If the retirement income is payable before the Member's death, A. It shall either be distributed or commence to the Member not later than April 1 of the calendar year following the later of the calendar year in which the Member attains age seventy and one-half (70-1/2), or the calendar year in which Member retires, B. The distribution shall commence not later than the calendar year defined above; and a), shall be paid over the life of the Member or over the life- times of the Member and Spouse, issue or dependent, or b), shall be paid over the period extending not beyond the life expectancy of the Member and Spouse, issue or dependent. Where a form of retirement income payment has commenced in accordance with the preceding paragraphs and the Member dies before his entire interest in the System has been distributed, the remaining portion of such interest in the System shall be distributed no less rapidly than under the form of distribution in effect at the time of the Member's death. 2. If the Member's death occurs before the distribution of his interest in the System has commenced, the Member's entire interest in the System shall be distributed within five (5) years of the Member's death, unless it is to be distributed in accordance with the following rules: 37 A. The Member's remaining interest in the System is payable to his Spouse, issue or dependent; B. The remaining interest is to be distributed over the life of the Spouse, issue or dependent or over a period not extending beyond the life expectancy of the Spouse, issue or dependent; and C. Such distribution begins within one U, year of the Member's death unless the Member's Spouse shall receive the remaining interest in which case the distribution need not begin before the date on which the Member would have attained age seventy and one-half �70-1/2) and if the Spouse dies before the distribution to the Spouse begins, this Section shall be applied as if the Spouse were the Member. At no time prior to the satisfaction of all liabilities under the System with respect to Retirees and Members and their Spouses or Beneficiaries, shall any part of the corpus or income of the Fund be used for or diverted to any purpose other than for their exclusive benefit. No amendment or ordinance shall be adopted by the City Council of the City of Okeechobee which shall have the effect of reducing the then vested accrued benefits of Members or a Member's B6neficiaries. It is intended that the System will constitute a qualified p blir. pension plan under the applicable provisions of the Code, as now in effect or hereafter amended. Any modification or amendment of the System may be made retroactively, if necessary or appropriate, to qualify or maintain the System as a Plan meeting the requirements of the applicable provisions of the Code as now in effect or hereafter amended, or any other 38 applicable provisions of the U.S. federal tax laws, as now in effect or hereafter amended or adopted, and the regulations issued thereunder. 4. Use of Forfeitures. Forfeitures arising from terminations of service of Members shall serve only to reduce future City contributions. SECTION �0 18 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 be inadequate. 2. If this ordinance shall be repealed, or if contributions to the System are discontinued or if there is a transfer, merger or consolidation of government units services or functions as provided in Chapter 121 Florida Statutes, the Board shall continue to administer the System in accordance with the provisions of 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, ji :S ,,.,. .,.►� LW ll,v Sy at-k.t discontinuance of contributions. or transfer, merger or consolidation o Bove me(ices or functions. 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 in accordance with the provisions thereof. 39 3. The following shall be the order of priority for purposes of allocating the assets of the System as of the date of repeal of this ordinance, or if contributions to the System are discontinued with the date of such discontinuation being determined by the Board. A. Apportionment shall first be made in respect of each Retiree receiving a retirement or disability benefit hereunder on such date, each person receiving a benefit on such date on account of a retired or disabled (but since deceased) Member, and each Member who has, by such date, become eligible for normal retirement but has not yet retired, an amount which is the Actuarial Equivalent of such benefit, provided that, if such asset value be less than the aggregate of such amounts, such amounts shall be proportionately reduced so that the aggregate of such reduced amounts will be equal to such asset value. B. If there be any asset value remaining after the apportionment under paragraph A, apportionment shall next be made in respect of each Member in the service of the City on such date who is vested and who is not entitled to an apportionment under paragraph A, in the amount required to provide the Actuarial Equivalent of the vested portion of the accrued normal retirement benefit (but not less than Accumulated Contributions), based on the Credited Service and Average Final Compensation as of such date, and each vested former Member then endtled.to a deferred benefit who has not, by such date, begun receiving benefit payments, in the amount required to provide said Actuarial Equivalent of the vested portion of the accrued normal retirement benefit (but not less than Accumulated Contributions), provided that, if such remaining asset value be less than the aggregate of the amounts apportioned hereunder, such latter amounts shall be proportionately 40 reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. C. If there be any asset value after the apportionments under paragraphs A and B, apportionment shall be made in respect of each Police-6fficer Membe1 in the service of the City on such date who is not entitled to an apportionment under paragraphs A and B in the amount equal to Member's Accumulated Contributions, provided that, if such remaining asset value be less than the aggregate of the amounts apportioned here- under such latter amount shall be proportionately reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. D. If there be any asset value remaining after the apportionments under paragraphs A, B, and C, apportionment shall lastly be made in respect of each Member included in paragraph C above to the extent of the Actuarial Equivalent of the non -vested accrued normal retirement benefit, less the amount apportioned in paragraph C, based on the Credited Service and Average Final Compensation as of such date, provided that, if such remaining asset value be less than the aggregate of the amounts apportioned hereunder, such amounts shall be reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value.. E. In the event that there be asset value remaining after the full apportionment specified in paragraphs A, B, C, and D, such excess shall be returned to the City, less return of the State's contributions to the State, provided that, if the excess is less than the total contributions made by the City and the State to the date of termination such excess shall be 41 divided proportionately to the total contributions made by the City and the State. 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 W 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 Fund may be continued in existence for purposes of subsequent distributions. If, at any time during the first ten (10) years after the effective date of the ordinance originally establishing this System, the System shall be terminated or the full current costs of the System shall not have been met, anything in the System to the contrary not- withstanding, City contributions which may be used for the benefit of any one W of the twenty-five (25) highest paid I VL,, Officers Members on the effective date, whose anticipated annual retirement allowance provided by the City's contributions at Member's normal retire- ment date would exceed one thousand five hundred dollars , $1,500), shall not exceed the greater of either a) twenty thousand dollars ($20,000), or b), an amount computed by multiplying the smaller of ten thousand dollars ($10,000) or twenty percent (20%) of such PV.:,,., Ofr,,.Y'J Member' s average annual earnings during his last five (5) years of service by the number of years of service since the effective date. In the event that it shall hereafter be determined by statute, court decision, ruling by the Commissioner of Internal Revenue, or otherwise, that the provisions of this paragraph are not then necessary to qualify the System under the La,,...al I,-, Code, this paragraph shall be ineffective without the necessity of further amendment of this ordinance. 4. After all the vested and accrued benefits provided hereunder have been paid and after all other liabilities have been satisfied, then and only then shall any remaining funds revert to the general fund of the City. 42 Except as otherwise provided by law, the pensions, annuities, or any other benefits accrued or accruing to any person under the provisions of this ordinance and the Accumulated Contributions and the cash securities in the Fund created under this ordinance are hereby exempted from any state, county or municipal tax and shall not be subject to execution, attachment, garnishment or any legal process whatsoever and shall be unassignable. The Board shall have the power to examine into the facts upon which any pension shall heretofore have been granted under any prior or existing law, or shall hereafter be granted or obtained erroneously, fraudulently or illegally for any reason. Said Tb, Board is empowered to purge the pension rolls or correct the pension rolls amount of any person heretofore granted a pension under prior or existing law or any person hereafter granted a pension under this ordinance if the same is found to be erroneous, fraudulent or illegal for any reason; and to reclassify any person who has heretofore under any prior or existing law been or who shall hereafter under this ordinance be erroneously, improperly or illegally classified. Any overpayments or underpayments shall be corrected and paid or repaid in a reasonable manner determined by the Board. 1. Any Member who is convicted of the following offenses committed prior to Retirement, or whose employment is terminated by reason of his admitted commission, aid or abetment of the following specified offenses, shall forfeit all rights and benefits under this System, except for the return of his Accumulated Contributions, but without interest, as of the date of termination. Specified offenses are as follows: A. The committing, aiding or abetting of an embezzlement of public funds; B. The committing, aiding or abetting of any theft by a public officer or employee from employer; 43 s • • C. Bribery in connection with the employment of a public officer or employee; D. Any felony specified in Chapter 838, Florida Statutes. E. The committing of an impeachable offense. F. The committing of any felony by a public officer or employee who willfully and with intent to defraud the public or the public agency, for which he acts or in which he is employed, of the right to receive the faithful performance of his duty as a public officer or employee, realizes or obtains or attempts to obtain a profit, gain, or advantage for himself or for some other person through the use or attempted use of the power, rights, privileges, duties or position of his public office or employment position. 2. Conviction shall be defined as an adjudication of guilt by a court of competent jurisdiction; a plea of guilty or a nolo contendere; a jury verdict of guilty when adjudication of guilt is withheld and the accused is placed on probation; or a conviction by the Senate of an impeachable offense. 3. Court shall be defined as any state or federal court of competent jurisdiction which is exercising its jurisdiction to consider a proceeding involving the alleged commission of a specified offense. Prior to forfeiture, the Board shall hold a hearing on which notice shall be given to the Member whose benefits are being considered for forfeiture. Said Member shall be afforded the right to have an attorney present. No formal rules of evidence shall apply, but the Member shall be afforded a full opportunity to present his case against forfeiture. 4. Any Member who has received benefits from the System in excess of his Accumulated Contributions after Member's rights were forfeited shall be required to pay back to the Fund the amount of the benefits received in excess of his Accumulated Contributions. but without interest. The Board may implement all legal action necessary to recover such funds. 44 ONEVEMMIKEWNTOILTAM • ••1 •!1!1 !! • 1!"e 1• • 1" ! I • •".• 1 • ••1 a ►/"11•' • i" 1- ! e r • MWANTRZ v R-TIM I mn 1" • • • 1 • an" otherwise be entitled under the System Fnr purposes of thi-.g Rubsection. "conviction," means •" !11 1 • ! • 1 • ftat is7t1e• • • • eTescrardless of . ! J" • • • 1 1. To the extent not covered by insurance contracts in force from time to time, the City shall indemnify, defend and hold harmless members of the Board from all personal liability for damages and costs, including court costs and attorneys' fees, arising out of claims, suits, litigation, or threat of same, herein referred to as "claims", against these individuals because of acts or circumstances connected with or arising out of their official duty as members of the Board. The City reserves the right, in its sole discretion, to settle or not settle the claim at antime and to appeal or to not appeal from an adverse judgment or ruling, and in either y PPe PP Y j g g� event will indemnify efend and hold harmless any members of the Board from the judgment, execution, or levy thereon. 2. This Section shall not be construed so as to relieve any insurance company or other entity liable to defend the claim or liable for payment of the judgment or claim, from any liability, nor does this Section waive any provision of law affording the City immunity from 45 any suit in whole or part, or waive any other substantive or procedural rights the City may have. 3. This Section shall not apply nor shall the City be responsible in any manner to defend or pay for claims arising out of acts or omissions of members of the Board which constitute felonies or gross malfeasance or gross misfeasance in office. If a member of any of the City's three W retirement systems transfers to either of the other two Oj systems, he must choose one W of the following procedures with regard to Credited 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 Credited Service attributable to the period covered. 2. The member may leave his Accumulated Contributions in the fund, in which event his Credited Service with both systems shall be combined for purposes of determining eligibility for benefits and for vesting. When the member is eligible to receive a benefit, he shall receive benefits from both systems, which shall consist of accrued benefits under each system based on the provisions of the respective system and the earnings and Credited Service under that system. The years or fractional parts of years that a Police Officer serves or has served on active duty in the active military service of the Armed Forces of the United States+ or the United States Merchant Marine or the United States Coast Guard, voluntarily or involuntarily, honorably or under honorable conditions, prior to first and initial employment with the City Police Department shall be added to his years of Credited Service provided that: 1. The iti,l:.,., Officer Membe contributes to the Fund the sum that he would have contributed had he been a member of the System for the years or fractional parts of years for which he is requesting credit plus amounts actuarially determined such that the crediting of 46 service does not result in any cost to the Fund plus payment of costs for all professional services rendered to the Board in connection with the purchase of years of Credited Service. 2. The request shall be made only once and made by the 1 on or before „,..,,, a2) .,,V..HiS 1LV... d.,, Lffeci:,., D4t%o „f d.:- .,.L,1".."..%�e-ar six (6) months from the date of his employment with the City Police Department, .IL:,,I,., la Al . 3. Payment by the NL',,,, Off..,. Membe of the required amount shall be made within six (6) months of his request for credit and shall be made in one W lump sum payment upon receipt of which Credited Service shall be given. 4. The maximum credit under this Section shall be four (4) years. 5. Credited Service purchased pursuant to this Section shall not count toward vesting. 1. General. This Section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this Section, a distributee may elect, at the time and in the manner prescribed by the Board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. A. Eligible Rollover Distribution: An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one 0) of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated Beneficiary, or for a 47 ' • • specified period of ten years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Code; and the portion of any distribution that is not includible in gross income. B. Eligible Retirement Plan: An eligible retirement plan is an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408(b) of the Code, an annuity plan described in section 403(a) of the Code, or a qualified trust described in section 401(a) of the Code, that accepts the distributee's eligible rollover distribution. However, in the case of an eligible rollover distribution to the surviving Spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. C. Distributee: A distributee includes an employee or former employee. In addition, the employee's or fonner employee's surviving Spouse is a distributee with regard to the interest of the Spouse. D. Direct Rollover: A direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee. bm\ok\pot105-11-OO.ord • ScoTr R. CHRisnaNSEN H. LEE DE HNER LAW 0MCES CHRISTUINSEN & DEHNER, P.A. 63 SARASOTA CENTER BLVD. SUITE 107 SARASOTA, FLOPIDA 34240 May 12, 2000 Mr. Bill Veach, City Administrator City of Okeechobee 55 Southeast 3rd Avenue Okeechobee, Florida 34974 • EXHIBIT 2 - 6 / 20AGENDA PHONE: (941) 377-2200 FAX: (941) 377-4848 Re: City of Okeechobee Municipal Police Officers' Pension Trust Fund City of Okeechobee Municipension Trust Fund Dear Mr. Veach: We represent the Boards of Trustees of both your police officers' and firefighters' pension plans. You previously received proposed ordinances prepared by us which had been placed on an agenda for first reading on May 2nd. At our request, these ordinances were pulled from that agenda pending further revision. Based on additional favorable funding information with regard to the firefighters' pension plan, certain benefit improvements have been now included and recommended for adoption for both the police officers' and the firefighters' pension plans. The enclosed revised proposed ordinances contain the following changes with respect to both plans: 1. The proposed ordinances amend and restate the plans to include the most recent legislative changes found in Chapter 99-01, Laws of Florida. All non -cost required changes necessary to comply with the new legislation have been included in the proposed ordinances. 2. The proposed,ordinances not only include the most recent legislative changes found in Chapter 99-01, Laws of Florida, but also provide the following benefit improvements. a. The normal retirement date has been reduced from age 60 to age 55 and the completion of 10 years of credited service. This change brings the plan into compliance with the minimum requirement provided for in Chapters 175 and 185, Florida Statutes. Mr. Bill Veach, City Administrator May 12, 2000 Page 2 b. The in -line of duty disability benefit has been amended to provide a benefit equal to the accrued benefit on the date of disability but not less than 42 % of average final compensation. This benefit meets the minimum requirement provided for in Chapters 175 and 185, IDDLcta stlwas c • The not -in line of duty disability benefit has been amended to provide for a benefit equal to 2 % of average final compensation multiplied by total years of credited service or the early retirement benefit, but not less than 25 % of average final compensation in any event. This amended benefit also meets the minimum requirement of Chapters 175 and 185, Eblida Sta s. d. The pre -retirement death benefit is amended to provide for payment of at least the minimum benefit in Chapters 175 and 185, Florida taWie_a e. A one-half of one percent biannual cost of living adjustment has been added to each plan which will be effective for all current and future retirees. I am enclosing with this letter copies of the studies conducted by each Board's actuarial firm, Gabriel, Roeder, Smith & Company, indicating that the adoption of all of the proposed benefit improvements provided for in the proposed ordinances will still not require the City to make a contribution to either plan. I understand that these ordinances will be placed on an agenda for first reading on June 6th. My partner, Lee Dehner, will be present to explain the changes provided for in these ordinances and to answer any questions which the City Council may have. If you have any questions prior to that date, please feel free to give me a call. Yours r tn1ly Scott R. Christiansen SRC/bin enclosures cc: Theora Braccialarghe, with enclosures Jim Paul, with enclosures J. P. Zeigler, with enclosure Bill Douglas, with enclosures GABRIEL, ROEDER, SMITH & COMPANY Consultants & Actuaries 301 East Las olas Blvd. a Suite 200 • Ft Lauderdal% FL 33301 •954-527.1616 • FAX 954-525-0083 May 9, 2000 Chief L. Keith Tomey City of Okeechobee Fire Department 55 S.E. 3rd Avenue Okeechobee, FL 34974-2932 Re: Benefit Study for Firefighters Pension Plan Dear Chief Tomey: We have completed the study you requested. The results are as follows: Required Contribution Citv & State Cltv Current Plan Provisions per 10/1/99 valuation $5,893 $0 as % of payroll 2.10% 0.00% Normal Retirement Age 55 8,872* 0 as % of payroll 3.15% 0.00% Service Connected Disability greater of accrued benefit or 42% of average final compensation 7,949 0 as % of payroll 2.83% 0.00% Cost of Living Increase .5% every other year —actives and inactives 8,693 0 as % of payroll 3.09% 0.00% Normal Service Connected Disability greater of 2% accrued benefit or 25% average final compensation 6,022 0 as % of payroll 2.14% 0.00% Chief L. Keith Tomey Page 2 May 9, 2000 Pre -Retirement Death 100% accrued benefit payable @ Normal Retirement Date/ Early Retirement Date as % of payroll Proposed Ordinance including all of the above provisions as % of payroll Required Contribution City & State $ 7,247 0 2.58% 0.00% 14,884 0 5.29% 0.00% The premium tax refund from the state was assumed to be $52,949 for purposes of determining the remaining amount due from the City. Enclosed is an impact statement covering all the changes. If we can be of further assistance please contact us. Sincerely, \J./&M Theora P. Braccialarghe, FSA Senior Consultant & Actuary TPB:al Cc: Scott Christiansen, Esq. GABRIEL, ROEDER, SMITH & COMPANY ORDINANCE NO.750 AN ORDINANCE OF THE CITY OF OKEECHOBEE AMENDING THE RESTATED CITY OF OKEECHOBEE MUNICIPAL FIREFIGHTERS' PENSION FUND, AS ADOPTED BY ORDINANCE NO. 6569 AS SUBSEQUENTLY AMENDED; PROVIDING FOR DEFINITIONS; PROVIDING FOR MEMBERSHIP; PROVIDING FOR A BOARD OF TRUSTEES; PROVIDING FOR FINANCES AND FUND MANAGEMENT; PROVIDING FOR CONTRIBUTIONS; PROVIDING FOR BENEFIT AMOUNTS AND ELIGIBILITY; PROVIDING FOR PRE -RETIREMENT DEATH BENEFITS; PROVIDING FOR DISABILITY BENEFITS; PROVIDING FOR VESTING OF BENEFITS; PROVIDING OPTIONAL FORMS OF BENEFITS; PROVIDING FOR BENEFICIARIES; PROVIDING CLAIMS PROCEDURES; PROVIDING FOR REPORTS TO THE DIVISION OF RETIREMENT; PROVIDING FOR A ROSTER OF RETIREES; DELETING BOARD ATTORNEY AND PROFESSIONALS; PROVIDING FOR A MAXIMUM PENSION LIMITATION; PROVIDING FOR DISTRIBUTION OF BENEFITS; PROVIDING MISCELLANEOUS PROVISIONS; PROVIDING FOR REPEAL OR TERMINATION OF THE SYSTEM; PROVIDING FOR EXEMPTION FROM EXECUTION AND NON -ASSIGNABILITY; PROVIDING FOR PENSION VALIDITY; PROVIDING FOR FORFEITURE OF PENSION UNDER CERTAIN CIRCUMSTANCES; PROVIDING FOR CONVICTION AND FORFEITURE, FALSE, MISLEADING OR FRAUDULENT STATEMENTS; PROVIDING FOR INDEMNIFICATION AND DEFENSE OF CLAIMS; PROVIDING FOR TRANSFERS WITHIN THE CITY; PROVIDING FOR PURCHASE OF CREDIT FOR MILITARY SERVICE PRIOR TO EMPLOYMENT; PROVIDING FOR DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS; DELETING SEPARATION FROM EMPLOYMENT FOR MILITARY SERVICE; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Okeechobee Firefighters are presently provided pension and certain other benefits under Ordinances of the City of Okeechobee and; WHEREAS, the City Council desires to clarify and restate the provisions of the Firefighters' Retirement Plan to consolidate all prior ordinances and Code provisions and to incorporate Federal law and the current applicable provisions of Chapter 175, Florida Statutes; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA: SECTION 1: That the City of Okeechobee Retirement System for Firefighters as adopted by Ordinance 656 and as subsequently amended, be and the same is amended and restated as set forth in the document designated CITY OF OKEECHOBEE MUNICIPAL FIREFIGHTERS' PENSION TRUST FUND, attached hereto and made a part hereof. SECTION 2: Specific authority is hereby granted to codify and incorporate this Ordinance in the existing Code of Ordinances of the City of Okeechobee. SECTION 3: All Ordinances or parts of Ordinances in conflict herewith be and the same are hereby repealed. SECTION 4: If any section, subsection, sentence, clause, phrase of this 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 5: That this Ordinance shall become effective upon adoption, except provisions for compliance with Chapter 175, Florida Statutes, shall be effective retroactively to December 31, 1999. Introduced on first reading and set for public hearing this day of MAYOR ATTEST: CITY CLERK Passed on second and final reading this day of MAYOR ATTEST: CITY CLERK 111 TABLE OF CONTENTS ISECTIQIY DEFINITIONS MEMBERSHIP BOARD OF TRUSTEES FINANCES AND FUND MANAGEMENT CONTRIBUTIONS BENEFIT AMOUNTS AND ELIGIBILITY DEATH BENEFITS DISABILITY VESTING OPTIONAL FORMS OF BENEFITS BENEFICIARIES CLAIMSPROCEDURES REPORTS TO DIVISION OF RETIREMENT ROSTER OF RETIREES MAXIMUM PENSION DISTRIBUTIONS OF BENEFITS MISCELLANEOUS PROVISIONS REPEAL OR TERMINATION OF SYSTEM EXEMPTION FROM EXECUTION, NON -ASSIGNABILITY PENSION VALIDITY FORFEITURE OF PENSION CONVICTION AND FORFEITURE; FALSE, MISLEADING OR FRAUDULENT STATEMENTS PAGE 1 4 4 6 12 13 15 16 24 25 28 29 29 30 30 33 35 35 39 39 39 INDEMNIFICATION TRANSFERS WITHIN THE CITY MILITARY SERVICE PRIOR TO EMPLOYMENT DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS 40 41 41 42 43 CITY OF OKEECHOBEE MUNICIPAL FIREFIGHTERS' PENSION TRUST FUND 1. As used herein, unless otherwise defined or required by the context, the following words and phrases shall have the meaning indicated: Accumulated Contributions means a Member's own contributions with interest at the rate of five and one -quarter percent (5-1/4%) per annum. For those Members who purchase Credited Service at no cost to the System pursuant to Sections 25 and-26, only that portion of any payment representing the sum that he would have contributed had he been a Member of the System for the years for which he is requesting credit, shall be included in Accumulated Contributions. 0., . 93-406) aj ,...,,.. die 1:-.,....,..ZJ L ll.,, D.,y�..l...;..t .,f La�.,i a..cl-91.,, L.t„i.. P.;,�........ 0.,. �:,,.,, 4st3rat Statutemncl thes,.Tall L:, a�..,,..1..1. Actuarial Equivalent means that any benefit payable under the terms of this System in a form other than the normal form of benefit shall have the same actuarial present value on the date payment commences as the normal form of benefit. For purposes of establishing the actuarial present value of any form of payment other than a lump sum distribution, all future payments shall be discounted for interest and mortality by using tight percent (8 %) interest and the 1983 Group Annuity Mortality Table for Males. Average Final Compensation means one -twelfth (1/12) of the average Salary of the five (5) best years of the last ten (10) years of Credited Service prior to retirement, termina- tion, or death, or the career average as a full-time Firefighter, whichever is greater. A year shall be twelve (12) consecutive months. Beneficiary means the person or persons entitled to receive benefits hereunder at the death of a Member who has or have been designated in writing by the Member and filed with the Board. If no such designation is in effect, or if no person so designated is living, at the time of death of the Member, the Beneficiary shall be the estate of the Member. 1 • Board means the Board of Trustees, which shall administer and manage the System herein provided and serve as trustees of the Fund. City means City of Okeechobee, Florida. C-Q& means the Internal Revenue Code of 1986, as amended from time to time. Credited Service means the total number of years and fractional parts of years of service as a Firefighter with Member contributions when required, omitting intervening years or fractional parts of years when such Member was not employed by the City as a Firefighter. A Member may voluntarily leave his Accumulated Contributions in the Fund for a period of five (5) years after leaving the employ of the Fire Department pending the possibility of being reemployed as a Firefighter, without losing credit for the time that he was a Member of the System. If the a vested Member leaves the employ of the Fire Department, his Accumulated Contributions will be returned auly upon his written request. If a Member who is not vested is not reemployed as a Firefighter with the Fire Department within five W years, his Accumulated Contributions shall be returned. Upon return of his a Member's Accumulated Contributions, all of his rights and benefits under the System are forfeited and terminated. Upon any reemployment, a Firefighter will aha11 not receive credit for the years and fractional parts of years of service for which he has withdrawn his Accumulated Contributions from the Fund, unless the Firefighter repays into the Fund the contributions he has withdrawn, with interest, as determined b; the Board_ within ninety 490) days after his reemployment. a-FirefigAter—wift 1 • • ' •r11 1 1 ' • r 1 . 1 ' . • • • • 1 • ,41 1/ � 11 • 11 1 �I • 1 !! • • 11 !WWWOMM MW3V1 1 • 1 2 �. The maximum credit for milit= service pursuant to this paragraph shall be five (5) years, 1� Effective Date means the-dat., �,,. ��1.:�,1a Qu, UAd"' l"µ1VV YVNV111VJ %;ffective April Firefighter means an actively employed full-time person employed by the City, including his initial probationary employment period, who is certified as a Firefighter as a condition of employment in accordance with the provisions of §633.35, Florida labd s, and whose duty it is to extinguish fires, to protect life and to protect property. Fund means the trust fund established herein as part of the System. ember means an actively employed Firefighter who fulfills the prescribed y .l:.v.-tion membership requirements. Benefit improvements which, in the past, have been provided for by amendments to the System adopted by City ordinance, and any benefit improvements which might be made in the future shall apply prospectively and shall not apply to Members who terminate employment or who retire prior to the effective date of any ordinance adopting such benefit improvements, unless such ordinance specifically provides to the contrary. Plan Year means the twelve (12) month period beginning October 1 and ending September 30 of the following year. Retiree means a Member who has entered Retirement Status. Retirement means a Member's separation from City employment with eligibility for immediate receipt of benefits under the System. means the basic compensation paid by the City to a Member, plus all tax deferred, tax sheltered and tax exempt items of income derived from elective employee payroll deductions or salary reductions otherwise includible in basic compensation. Compensation in excess of the limitations set forth in Section 401(a)(17) of the Code shall be disregarded. The limitation on compensation for an "eligible employee" shall not be less than the amount which was allowed to be taken into account hereunder as in effect on July 1, 1993. "Eligible 3 employee" is an individual who was a Member before the first plan year beginning after December 31, 1995. Spouse means the lawful wife or husband of a Member or Retiree at the time of �,,�1 dektt. �,;,,;;.:.errt benefits become payable. System means the City of Okeechobee Municipal Firefighters' Pension Fund as contained herein and all amendments thereto. FINIMUMM,- IS The masculine gender, where used herein, unless the context specifically requires otherwise, shall include both the feminine and masculine genders. MINNIff .T� 9114TITIM, A. All Firefighters as of the Effective Date, and all future new Firefighters, shall become Members of this System as a condition of employment. B. All future new Firefighters shall be required to complete a medical examination as prescribed by the City. Each Firefighter shall complete a form prescribed by the Board providing for the designation of a Beneficiary or Beneficiaries. y fA,,::: 1::::„ t� 1::::., „l:u::a„ 1"a 1.,:,:�::ata1 II„::.,i:,.:� y L y,%,Y:.,,.jly 1.,�:�..aw1 II.,.:.,T.,,:�:::.,� t., .,,..,:�., C:.y L.,::„ Flti "AA% All:., �y,L,.:: ill ll .,.,�..�.,. 1. The sole and exclusive administration of and responsibility for the proper operation of the System and for making effective the provisions of this ordinance arc is hereby vested in a Board of Trustee. The Board cf Tival...., is hereby designated as the plan administrator. The Board %,f Tivat.,.,., shall consist of five (5) Trustees, two Q of whom, unless otherwise prohibited by law, shall be legal residents of the :::�:::,.:k,.,:l.:ty City, who shall be appointed by the Okeechobee City Council, and two W of whom shall be full-time Firefighter Members of the System, who shall be elected by a majority of the Firefighters who 4 are Members of the System. The fifth Trustee shall be chosen fvL a t W V (2) y „... tr.... by a majority of the previous four (Q Trustees as provided for herein, and such person's name shall be submitted to the Okeechobee City Council. Upon receipt of the fifth person's name, the Okeechobee City Council 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 (Q Trustees appointed or elected as herein provided and shall serve a two (2) year term unless tire -off., 1 ...ny JL►w - d 1.:.:.�„31 u, he sooner vacates the office. Each resident Trustee shall serve as Trustee for a period of two (2) years, unless hr, sooner vacates the office or is soo= replaced by the Okeechobee City Council at whose pleasure the Trustee hr, shall servt;, "Ad ...ay O.:,,,,�W 1L'U..a,;.f-aa u Ti..A". . Each Firefighter Member Trustee shall serve as Trustee for a period of two (2) years, unless he sooner leaves the employment of the City as a Firefighter or otherwise vacates his office as Trustee, whereupon a successor shall be chosen in the same manner as the departing Trustee. Each I'L Xe li'.. Trustee may succeed himself in office. The Board shall establish and administer the nominating and election procedures after each election. The Board „f Ti,.Jl.." shall meet at least quarterly each year. The Board of Trustees 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. 2. The Trustees shall, by a majority vote, elect a Chairman and a Secretary. The Secretary of the Board shall keep a complete minute book of the actions, proceedings, or hearings of the Board. The Trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law. 3. Each Trustee shall be entitled to one W vote on the Board. Three (3) affirmative votes shall be necessary for, any decision by the Trustees at any meeting of the Board. A Trustee shall have the right to abstain from voting as the result of a conflict of interest provided that Trustee complies with the provisions of Section 112.3143, Florida Statutes. 4. The Board shall engage such actuarial, accounting, legal, and other services as shall be required to transact the business of the System. The compensation of all persons engaged by the Board and all other expenses of the Board necessary for the operation of the System shall be paid from the Fund at such rates and in such amounts as the Board shall agree. 5 In the event the Board chooses to use the City,s legal counsel, actuary or other professional. technical or other advisors, it shall do so only under terms and conditions acceptable to the Boars, 5. The duties and responsibilities of the Board shall include, but not necessarily be limited to, the following: A. To construe the provisions of the System and determine all questions arising thereunder. B. To determine all questions relating to eligibility and membership. 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 adminis- trative purposes, benefit applications and all matters required to administer the System. E. To distribute to Members, at regular intervals, information concerning the System. F. To receive and process all applications for membership 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 and Fund. H. To have performed actuarial studies and valuations, at least as often as required by law, and make recommendations regarding any and all changes in the provisions of the System. I. To perform such other duties as are required to prudently administer the System. SECTION 4. FINANCES AND FUND MANAGEMENT. F,sta_b ishment and Operation of Fund. 1. As part of the System, there exists the Fund, into which shall be deposited all of the contributions and assets whatsoever attributable to the System. 0 2. The actual custody and supervision of the Fund (and assets thereof) shall be vested in the Board. Payment of benefits and disbursements from the Fund shall be made by the disbursing agent but only upon written authorization from the Board. 3. All funds of the Municipal Firefighters' Pension Fund may be deposited by the Board with the Finance Director of the City, acting in a ministerial capacity only, who shall be liable in the same manner and to the same extent as he is liable for the safekeeping of funds for the City. However, any funds so deposited with the Finance Director of the City shall be kept in a separate fund by the Finance Director or clearly identified as such funds of the Municipal Firefighters' Pension Fund. In lieu thereof, the Board shall deposit the funds of the Municipal Firefighters' Pension Fund in a qualified public depository as defined in §280.02, Florida Statutes, which depository with regard to such funds shall conform to and be bound by all of the provisions of Chapter 280, Florida Statutes. In order to fulfill its investment responsibilities as set forth herein, the Board may retain the services of a custodian bank, an investment advisor registered under the Investment Advisors Act of 1940 or otherwise exempt from such required registration, an insurance company, or a combination of these, for the purposes of investment decisions and management. Such investment manager shall have discretion, subject to any guidelines as prescribed by the Board, in the investment of all Fund assets. 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 amounts 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. 7 • 5. An audit shall be performed annually by a certified public accountant for the most recent fiscal year of the £ity System showing a detailed listing of assets and a statement of all income and disbursements during the year. Such income and disbursements must be reconciled with the assets at the beginning and end of the year. Such report shall reflect a com- plete evaluation of assets on both a cost and market basis, as well as other items normally included in a certified audit. 6. The Board shall have the following investment powers and authority: A. The Board shall be vested with full legal title to said Fund, subject, however, and in any event to the authority and power of the Okeechobee City Council to amend or terminate this Fund, provided that no amendment or Fund termination shall ever result in the use of any assets of this Fund except for the payment of regular expenses and benefits under this System, except as otherwise provided herein. All contribu- tions 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. All monies paid into or held in the Fund shall be invested and reinvested by the Board and the investment of all or any part of such funds shall be limited to: (1) Annuity and life insurance contracts with life insurance companies in amounts sufficient to provide, in whole or in part, the benefits to which all of the Members in the Fund shall be entitled under `'the provisions of this System and pay the initial and subsequent premium thereon. (2) Time or savings accounts of a national bank, a state bank insured by the Bank Insurance Fund or a savings/building and loan association insured by the Savings Association Insurance Fund which is administered by the Federal Deposit Insurance Corporation or a state or federal chartered credit union whose 91 share accounts are insured by the National Credit Union Share Insurance Fund. (3) Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United States or by an agency of the government of the United States. (4) Bonds issued by the State of Israel. (5) Stocks, commingled funds administered by national or state banks, mutual funds and bonds or other evidences of indebted- ness, provided that: (a) Except as provided in paragraph (b), all individually held securities and all securities in a commingled or mutual fund must be issued or guaranteed by a corporation organized under the laws of the United States, any state or organized territory of the United States, or the District of Columbia. (b) Up to ten percent (10 %) of the assets of the Fund may be invested in foreign securities. (c) The Board shall not invest more than five percent (5 %) of its assets in the common stock, capital stock, or convertible securities of any one issuing company, nor shall the aggregate investment in any one issuing company exceed five percent (5 %) of the outstanding capital stock of that company; nor shall the aggregate of its investments in common stock, capital stock and convertible securities at cost exceed sixty percent (60 %) of the assets of the Fund. (6) Real estate, provided the Board shall not invest more than ten percent (10%) at cost in real property or real estate. At least once every three (3) years and more often as determined by t__eh 0 D,, The Board may retain in cash and keep unproductive of income such amount of the Fund as it may deem advisable, having regard for the cash requirements of the System. D-: E� Neither the Board nor any Trustee 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. F. 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 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 or powers of attorney with or without power of substitution; to participate in mergers, reorganizations, recapitaliza- tions, 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 powers of an owner with respect to stocks, bonds, or other investments comprising the Fund which it may deem to be to the best interest of the Fund to exercise. 10 Fr: The Board shall not be required to make any inventory or appraisal or report to any court, nor to secure any order of court for the exercise of any power contained herein. If j� 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, of specific information, certifica- tion, 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. f: L Any overpayments or underpayments from the Fund to a Member, Retiree or Beneficiary caused by errors of computation shall be adjusted with interest at a rate per annum approved by the Board in such a manner that the Actuarial Equivalent of the benefit to which the Member, Retiree or Beneficiary was correctly entitled, shall be paid. Overpayments shall be charged against payments next succeeding the correction or collected in another manner if prudent. Underpayments shall be made up from the Fund in a prudent manner. K, The Board shall sustain no liability whatsoever for the sufficiency of the Fund to meet the payments and benefits provided for herein. K—. L,a In any application to or proceeding or action in the courts, only the Board shall be a necessary party, and no Member or other person having an interest in the Fund shall be entitled to any notice or service of process. Any judgment entered in such a proceeding or action shall be conclusive upon all persons. M. 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 I over the acts of any such agent; provided further, that legal title to said Fund shall always remain in the Board. uMINEETM,= To.� A. Amount. Each Members of the System shall be required to make regular contributions to the Fund in the amount of five percent (5 %) of his Salary. Member contributions withheld by the City on behalf of the Member shall be deposited with the Board at least ...,,..Q.1y immediately after each pay period. The contributions made by each Member to the Fund shall be designated as employer contributions pursuant to §414(h) of the iLr.V11.J R~ , Code of"1986. Such designation is contingent upon the contributions being excluded from the Members' gross income for Federal Income Tax purposes. For all other purposes of the System, such contributions shall be considered to be Member contributions. B. Method. Such contributions shall be made by payroll deduction. 2. State Contributions. 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 Firefighters of the City shall be deposited in the Fund comprising part of this System immediately and under no circumstances more than five (5) days after receipt by the City. So long as this System is in effect, the City shall make quarterly contributions to the Fund in an amount equal to the difference in each year, between the total aggregate Member contributions for the year, plus state contributions for such year, and the total cost for the year, as shown by the most recent 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 past service liability L.ty (40) p.,cu F% LLV1, VVAUX d.- E. ca y.,�. j{L AlichEfEwa:DOXbt-oftl.:; .r1yat..... ,,,,, w.a as provided in Part VH of Chapter 112, Florida Statutes. 12 4. Other. Private donations, gifts and contributions may be deposited to the Fund, but such deposits must be accounted for separately and kept on a segregated bookkeeping basis. Funds arising from these sources may be used only for additional benefits for Members, as determined by the Board, and may not be used to reduce what would have otherwise been required City contributions. 1. A Member's normal retirement date shall be the first day of the month coincident with, or next following the earlier of the attainment of age sixty-(66)r fifty-five -five (551 and the completion of ten (10) years of Credited Service or upon the completion of twenty-five (25) years of Credited Service regardless of age. A Member may retire on his normal retirement date or on the first day of any month thereafter, and each Member shall become one hundred percent 4100 %) vested in his accrued benefit on the Member's normal retirement date. Normal retirement under the System is Retirement from employment with the City on or after the normal retirement date. 2. Normal Retirement Benefit. A Member retiring hereunder on or after his normal retirement date shall receive a monthly benefit which shall commence on the first day of the month coincident with or next following his Retirement and be continued thereafter during the Member's lifetime, ceasing upon death, but with one hundred twenty (120) monthly payments guaranteed in any event. The monthly retirement benefit shall equal three percent (3 %) of Average Final Compensation, for each year of Credited Service. 3. Early Retirement Date. A Member may retire on his early retirement date which shall be the first day of any month coincident with or next following the attainment of age fifty (50) and the completion of ten (10) years of Credited Service. Early retirement under the System is Retirement from employment with the City on or after the early retirement date and prior to the normal retirement date. 13 4• Early Retirement Benefit. A Member retiring hereunder on his early retirement date may receive either a deferred or an immediate monthly retirement benefit payable in the same form as for normal retirement as follows: A. A deferred monthly retirement benefit which shall commence on what would have been his normal retirement date 1,.d L, mcnta, a Iu.,f�l.l.,., determined based upon his actual tears of credited service- 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 on his normal retirement date, determined based upon his actual years of Credited Service, except that Credited Service and Average Final Compensation shall be determined as of his early retirement date; or B. An immediate monthly retirement benefit which shall commence on his early retirement date and shall be continued on the first day of each month thereafter. The benefit payable shall be as determined in paragraph A above, which is reduced by three percent (3 %) for each year the commencement of benefits precedes the date which would have been the Member's normal retirement date had he continued employment as a Firefighter. WINNEUVOTMO 89VT�• :• n Beneficiary or Joint annuitantsl. 14 SECTION I DEATH BENEFTES. 1. Prior to Vesting or Eligibility for Retirement. The Beneficiary of a deceased Member who was not receiving monthly benefit payments, or who was not yet vested or eligible for retirement shall receive a refund of one hundred percent (100 %) of the Member's Accumulated Contributions. 2. Deceased Members Vested or Eligible for Retirement. Any Member, whether or not still actively employed, who has a right to a vested accrued benefit, shall be eligible for a death benefit if he dies before collecting any other benefits from this System. The amount of the death benefit shall be equal to fifty percent (50 %) of the actuarially equivalent single sum value of the Member's vested accrued benefit, or his Accumulated Contributions, whichever is greater. If this single sum value is less than $3-,500 five thousand dollars a5 0Q, it shall be paid in a lump sum. If the value exceeds $3,500 five thousand dollars ($F000), the Beneficiary may elect payment under any of the optional forms available for retirement benefits or a lump sum payment. If a Member is eligible for early or normal retirement, but remains in employment and dies while so employed, the death benefit shall be determined as follows: It shall be assumed that such deceased Member had retired immediately preceding his date of death and elected the Ten Year Certain and Life Thereafter option. However, the death benefit shall be equal to fifty percent (50 %) of the actuarially equivalent single sum value of the Member's vested accrued benefit, if larger than the Ten Year Certain and Life Thereafter option, described earlier in this Section. Notwithstanding the previous paragraphs of this subsection 2, in the event a • • • 11"1 • •�• • • • •"1" 1 i-1-1 f& 1, ON • 1 l " • 1 • rl! • • 11 ! • 1 " • . e • 1 " • " 1 - • \/ ' {{ • - • 1 • rll is • 0 I . a•1R� Any Member who shall become totally and permanently disabled to the extent that he is unable, by reason of a medically determinable physical or mental impairment, to render useful and efficient service as a Firefighter, which disability was directly caused by the performance of his duty as a Firefighter, shall, upon establishing the same to the satisfaction of the Board, be entitled to a monthly pension d„b.:::—* .--d u: J. �yf�,..,�..ly aV�VaYYVaat (aJ JVL �Vl �a La �jV VtaVYa V, JisVJVv`aV as' I�, �/iV YlYil1� f.. LLL• QV`4GL1 A%.'d.tionQual to three percent (3 %) of his Average Final Compensation multiplied by the total years of Credited Service, but in any event, the minimum amount raid to the Member shall be forty -two Igr en (42%) of the Average Final Compensation of the Member. Terminated persons, either vested or non -vested, are not eligible for disability benefits, except that those terminated by the City for medical reasons may apply for a disability within thirty (30) days after termination. 2. In -Line of Duty Presumptions. A. Presumption. Any condition or impairment of health of a Member caused by hypertension or heart disease shall be presumed to have been suffered in line of duty unless the contrary is shown by competent evidence, provided that such Member shall have successfully passed a physical examination upon entering into such service, in„U.* Ae, which examination failed to reveal any evidence of such condition; and provided further, that such presumption shall not apply to benefits payable or granted in a policy of life insurance or disability insurance. B. Additiotial Presumption. The presumption provided for in this subpara- graph B. shall apply only to those conditions described in this subparagraph B. that are diagnosed on or after January 1, 1996. (1) Definitions. As used in this subsection 2.B., the following definitions apply: (a) "Body fluids" means blood and body fluids containing visible blood and other body fluids to which universal 16 precautions for prevention of occupational transmission of blood -borne pathogens, as established by the Centers for Disease Control, apply. For purposes of potential transmission of meningococcal meningitis or tuberculosis, the term "body fluids" includes respiratory, salivary, and sinus fluids, including droplets, sputum, and saliva, mucous, and other fluids through which infectious airborne organisms can be transmitted between persons. (b) "Emergency rescue or public safety Member" means any Member employed full time by the City as a firefighter, paramedic, emergency medical technician, law enforce- ment officer, or correctional officer who, in the course of employment, runs a high risk of occupational exposure to hepatitis, meningococcal meningitis, or tuberculosis and who is not employed elsewhere in a similar capacity. However, the term "emergency rescue or public safety Member" does not include any person employed by a public hospital licensed under Chapter 395, Florida Statutes, or any person employed by a subsidiary thereof. (c) "Hepatitis" means hepatitis A, hepatitis B, hepatitis non -A, hepatitis non-B, hepatitis C, or any other strain of hepatitis generally recognized by the medical community. (d) "High risk of occupational exposure" means that risk that is incurred because a person subject to the provisions of this subsection, in performing the basic duties associated with his employment: i. Provides emergency medical treatment in a non - health -care setting where there is a potential for transfer of body fluids between persons; 17 ii. At the site of an accident, fire, or other rescue or public safety operation, or in an emergency rescue or public safety vehicle, handles body fluids in or out of containers or works with or otherwise handles needles or other sharp instruments exposed to body fluids; iii. Engages in the pursuit, apprehension, and arrest of law violators or suspected law violators and, in performing such duties, may be exposed to body fluids; or iv. Is responsible for the custody, and physical restraint when necessary, of prisoners or inmates within a prison, jail, or other criminal detention facility, while on work detail outside the facility, or while being transported and, in performing such duties, may be exposed to body fluids. (e) "Occupational exposure," in the case of hepatitis, meningococcal meningitis, or tuberculosis, means an exposure that occurs during the performance of job duties that may place a worker at risk of infection. (2) Presumption. Any emergency rescue or public safety Member who suffers a condition or impairment of health that is caused by hepatitis, meningococcal meningitis, or tuberculosis, that requires medical treatment, and that results in total or partial disability or death shall be presumed to have a disability suffered in the line of duty, unless the contrary is shown by competent evidence; however, in order to be entitled to the presumption, the Member must, by written affidavit as provided in Section 92.50, Florida Statutes, verify by written declaration that, to the best of his knowledge. and belief: 18 .0 (a) In the case of a medical condition caused by or derived from hepatitis, he has not: i. Been exposed, through transfer of bodily fluids, to any person known to have sickness or medical conditions derived from hepatitis, outside the scope of his employment; ii. Had a transfusion of blood or blood components, other than a transfusion arising out of an accident or injury happening in connection with his present employment, or received any blood products for the treatment of a coagulation disorder since last undergoing medical tests for hepatitis, which tests failed to indicate the presence of hepatitis; iii. Engaged in unsafe sexual practices or other high - risk behavior, as identified by the Centers for Disease Control or the Surgeon General of the United States or had sexual relations with a person known to him to have engaged in such unsafe sexual practices or other high -risk behavior; or iv. Used intravenous drugs not prescribed by a physician. (b) In the case of meningococcal meningitis, in the ten (10) days immediately preceding diagnosis he was not exposed, outside the scope of his employment, to any person known to have meningococcal meningitis or known to be an asymptomatic carrier of the disease. (c) In the case of tuberculosis, in the period of time since the Member's last negative tuberculosis skin test, he has not been exposed, outside the scope of his employment, to any person known by him to have tuberculosis. 19 (3) Tmmilni7ation. Whenever any standard, medically recognized vaccine or other form of immunization or prophylaxis exists for the prevention of a communicable disease for which a presump- tion is granted under this section, if medically indicated in the given circumstances pursuant to immunization policies established by the Advisory Committee on Immunization Practices of the U.S. Public Health Service, an emergency rescue or public safety Member may be required by the City to undergo the immunization or prophylaxis unless the Member's physician determines in writing that the immunization or other prophylaxis would pose a significant risk to the Member's health. Absent such written declaration, failure or refusal by an emergency rescue or public safety Member to undergo such immunization or prophylaxis disqualifies the Member from the benefits of the presumption. (4) Record of Exposures. The City shall maintain a record of any known or reasonably suspected exposure of an emergency rescue or public safety Member in its employ to the disease described in this section and shall immediately notify the Member of such exposure. An emergency rescue or public safety Member shall file an incident or accident report with the City of each instance of known or suspected occupational exposure to hepatitis infection, meningococcal meningitis, or tuberculosis. \ (5) Required medical tests; preemployment physical. In order to be entitled to the presumption provided by this section: (a) An emergency rescue or public safety Member must, prior to diagnosis, have undergone standard, medically accept- able tests for evidence of the communicable disease for which the presumption is sought, or evidence of medical conditions derived therefrom, which tests fail to indicate F the presence of infection. This paragraph does not apply in the case of meningococcal meningitis. (b) On or after June 15, 1995, an emergency rescue or public safety Member may be required to undergo a preemployment physical examination that tests for and fails to reveal any evidence of hepatitis or tuberculosis. Any Member with five (5) or more years of Credited Service who shall become totally and permanently disabled to the extent that he is unable, by reason of a medically deter- minable physical or mental impairment, to render useful and efficient service as a Firefighter, which disability is not directly caused by the performance of his duties as a Firefighter shall, upon establishing the same to the satisfaction of the Board, be entitled to a monthly pension cnual tothe greater of (D or u) where (i) is two percent (2 of Average Final Compensation multiplied by the total years of Credited Service and (i) is a benefit determined in the same manner as for early retirement as set forth in Section b, subsection 4B, providing for an actuarial reduction. In any event, the minimum amount paid to the Member shall be twenty- five Mrcent (25%) of his Average Final Compensation. Terminated persons, either vested or non -vested, are not eligible for disability benefits, except that those terminated by the City for medical reasons may apply for a disability within thirty (30) days after termination. Each Firefighter who is claiming disability benefits shall establish, to the satisfaction of the Board, that such disability was = occasioned primarily by: A. Excessive or habitual use of any drugs, intoxicants, or alcolml narcotics. B. Injury br disease sustained while willfully and illegally participating in fights, riots or civil insurrections. C. L:�u.y u� 1:��.ao�. aUa1, .,J 9t while committing a crime. f C. Injury or disease sustained while serving in any branch of the Armed Forces. E D- Injury or disease sustained by the Member after his employment as a Firefighter with the City Okeechobee shall have terminated. 21 r• 1 iff'.l, YYQ1LIV11 VL 11.tV114V11CI 11L4VV1la L1V� VL &L l.V6liE&A.", L,f JUG 101L,11.L VL . V . L.J Lll� V. 11JVQJL, VLLJ l4Ji1V1 L� �.V EA. V bUWA, VY 1.�V YY WLI..".s L . (i .,' V11L, other flimi the 6ity 1 a.:J:l.g V..t Vf JuL,I. %,AAAF1Vy111Vl1t. II. A L,V..d%:LJ.. FA. ,, .L,..J .rr, Q.,, ril,,i'.�111L . YJ 1l1Vla1V V.JlI:r :l. J.V ►O.J .' L,.... I T" i 1r-1 Jl LV tV11� 1V� �V A �1J�.LV�1t� t/V11JAV11, YY'11V �1\,1 Lll L1V Vl day ' V. laLJI LA 1.11V if I.L'y, LJ}'�V'V(LUJV 1VI VA. YUV11V JAW "66A"Y(i�Vll V1 LL J�JVVLL.c 1.1JLi.y, 1lll�JQ.illlVllt VL VUaV1 1laVY1V� VVliVY�VlI �/1 V"'VA1J�1� Qt �1V "1V VI inert liiL,. "LLY :l. d.V LrJJ O L..l.Y, k'" Y:dL,d il.clt adlx y.�,""'\,/L:Jt:..b VV..d:tiv.. al.d rtJ 1VLA�VlaJ1Ly tV ty 1p tVl .1 aJ U.y, Lally0.11 aaaY/aa 1� vL v / LV WIA"L1L1.Vd Li VV111yVLVllt ,.L J"Lt:,d Vr:da,aaL,a,. ��V Ll..I.£, 1.L,L V.a1 Jllcall LL, L V'llJtluL,d tv y1L,L,ludV ad:aaL/T.;hty yL,..J:VI. t W-L t, ., VrI' , uff 111V illy VlJl 111J ul 01V 1.jy JtV1r11, JUlferS_— A u1JL1Ly, 11111J GL11111Vi1/� Vl V4aVa VVladatlVii d:�f+cr�enl 11Vill JLJ111L, VdLN..alJLAA. 4111�J(L11111V11 inedi LLl VV/ad.t►Vll .,,.Air0.t Vl IJ11V1 tV J9LLd 111V111L Vlallly. A Member shall not become eligible for disability benefits until and unless he undergoes a physical examination by a qualified physician or physicians and/or surgeon or surgeons, who shall be selected by the Board for that purpose. The Board shall not select the Member's treating physician or surgeon for this purpose except in an unusual case where the Board determines that it would be reasonable and prudent to do so. Any Retiree receiving disability benefits under provisions of this ordinance may be periodically re-examined by a qualified physician or physicians and/or surgeon or surgeons who shall be selected by the Board, to determine if such disability has ceased to exist. If the Board finds that the Retiree is no longer permanently and totally disabled to the extent that he is unable to render useful and efficient service as a Firefighter, the Board shall recommend to the City that the Retiree be returned to performance of duty as a Firefighter, and the Retiree so returned shall enjoy the same rights that MW..1LVA, he had at the time he was placed upon pen- sion. In the event the Retiree so ordered to return shall refuse to comply with the order within thirty (30) days from the issuance thereof, Member hm shall forfeit the right to his pension. 22 The cost of the physical examination and/or re-examination of the Member claiming or the Retiree receiving disability benefits shall be borne by the Fund. All other reasonable costs as determined by the Board incident to the physical examination, such as, but not limited to, transportation, meals and hotel accommodations, shall be borne by the Fund. If the Retiree recovers from disability and reenters the service of the City as a Firefighter, his service shall be deemed to have been continuous, and the period for which Member received a disability retirement income shall be Credited Service for purposes of the System. If the Firefighter fails to reenter the service of the City as a Firefighter within thirty (30) days from the date the Board determines that the Retiree is no longer permanently and totally disabled to the extent that he is unable to render useful and efficient service as a Firefighter, the Member's future benefits shall be determined as though he initially terminated employment on the date the Board determined that he was permanently and totally disabled to the extent that he was unable to render useful and efficient service as a Firefighter. The Board shall have the power and authority to make the final decisions regarding all disability claims. 6. Disability Payments. The monthly benefit to which a Member is entitled in the event of the Member's disability retirement shall be payable on the first day of the first month after the Board deter- mines such entitlement. However, the monthly retirement income shall be payable as of the date the Board determined such entitlement, and any portion due for a partial month shall be paid together with the first payment. The last payment will be: A. If the Retiree recovers from the disability prior to his normal retirement date, the payment due next preceding the date of such recovery, or B. If the Retiree dies without recovering from disability or attains his normal retirement date while still disabled, the payment due next preceding his death or the 120th monthly payment, whichever is later. 23 When a Retiree is receiving a disability pension and workers' compensation benefits pursuant to Florida Statute Chapter 440, for the same disability, and the total monthly benefits received from both exceed 100 % of the Member's average monthly wage, as defined in Chapter 440, Florida Statutes, the disability pension benefit shall be reduced so that the total monthly amount received by the Retiree does not exceed 100% of such average monthly wage. The amount of any lump sum workers' compensation payment shall be converted to an equivalent monthly benefit payable for ten (10) Years Certain by dividing the lump sum amount by 83.9692. Tl..a Tall ,Ldy L., arr1..,aL1. t., d.,, d..D ..vl 1.111.tn. 11... ..........,.... Aw%p& .,.... !ts- of-Cl.aFLL 175- 1.,.,la Statrrtc�, a� n....,,,1�1 T..,... L...., t.. tu..,.. Notwithstanding the foregoing. in no event shall the disability Pension benefit be reduced below the greater of forty-two percent 42 %) of Average Final Compensation or two percent (%) of Average Final Compensation times years of Credited Service. If a Member terminates his employment witi. 11..1 I'u,, D,,rc..1...,..1 as a Firefighter, either voluntarily or by discharge, and is not eligible for any other benefits under this System, She Member shall be entitled to the following: 1. If the Member has less than ten (10) years Credited Service upon termination, the Member shall be entitled to a refund of his Accumulated Contributions or the Member may leave it deposited with the Fund. 2. If the Member has ten (10) or more years of Credited Service upon termination, the Member shall be entitled to a monthly retirement benefit, determined in the same manner as for normal or early retirement and based upon the Member's Credited Service, Average Final Compensation and the benefit accrual rate as of the date of termination, payable to him commencing at Member's otherwise normal or early retirement date, determined based upon his actual years of Credited Service, provided he does not elect to withdraw his Accumulated Contributions and provided the Member survives to his otherwise normal or early retirement date. If the Member does not withdraw his Accumulated Contributions and does not survive to his otherwise normal or early retirement date, his designated Beneficiary shall be entitled to 24 a benefit as provided herein for a deceased Member, vested or eligible for Retirement under Pre -Retirement Death. 3. Any vested Member of the System whose position is terminated, for whatever reason, but who remains employed by the City in some other capacity, shall have all retirement benefits accrued up to the date of such termination under this System preserved, provided he does not elect to withdraw his Accumulated Contributions from this System. Such accrued retirement benefits shall be payable at his otherwise early (reduced as for early retirement) or normal retirement date hereunder, or later, in accordance with the provisions of this System; provided further, however, that benefits shall not be payable under this System during any period of continued employment by the City. 1. In lieu of the amount and form of retirement income payable in the event of normal or early retirement as specified herein, a Firefighter Membe , 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 modified monthly amount, payable to the Mernber Retiree during the lifetime of the 1bMembcr Retiree and following the death of the Member, one hundred percent (100%), seventy-five percent (75 %), Sixri -six and two-thirds percent 466 2/3 %) or fifty percent 450 %) of such monthly amount payable to a joint pensioner for his lifetime. Except where the Retiree's joint pensioner is his Spouse, the present value of payments to the Retiree shall not be less than fifty percent (50 %) of the total present value of payments to the Retiree and his joint pensioner. B. A retirement income of a modified monthly amount payable to the Retiree for his lifetime only. 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 25 • 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. This option may be combined with other optional forms of benefits. 2. The I'LVL JAL,. Member, upon electing any option of this Section, will designate the joint pensioner (subsection I.A. above) or Beneficiary (or Beneficiaries) to receive the benefit, if any, payable under the System in the event of Member's death, and will have the power to change such designation from time to time. Such designation will name a joint pensioner or one (1) or more primary Beneficiaries where applicable. A Member may change his Beneficiary at any time. If a Firefighter Member has elected an option with a joint pensioner or Beneficiary and the Member's retirement income benefits have commenced, lk Member may thereafter change his designated *.* r.,l.a:.,..V..,. Da,..,,i'.a:u.y, Lul .,.1y :f Q.a 1VJ:�,aaGiba.1 DVl►NaaV:a.J ra�de,.. u'�.,J i1.V Pi,...L.,l .,.:f illy 1;, :j ,.1a1..1-�ercafa,,:a.y cu.d die 1.V �V►.aLNa rY.+V aa. a.a.a�li V� C,l lll/ ./i Pr�V111L Va'J LNtaa V►L.V►l� "Aid "Lv lt V1VVd JYLav%I ►1L 4l►Va V�V, '1a,11 t- - PI -L 1 1• 1 1 1.1D r '- �,aV Ya .V WV r'V., La .IV VYV.. aa1aJ a P ./.►. V. V .Kara,. uJ va ava vJ.6.ta ....1. a..acaay a..vav 3. The consent of a I:.,,I:�l.tcr's Member or Retiree's joint pensioner or Benefi- ciary to any such change shall not be required. The rights of all previously -designated Beneficiaries to receive benefits under the System shall thereupon cease. 4. Upon change of a D..,fi ,.a.y ua Retiree's joint pensioner in accordance with this ` Section, 411,, D„a.1 Jl►all a1ju-31 11.V P�fa....LVa'� ►.1,.►lll►ly L.,..,,fit-{�y aFIJ! .«ti.,ll of altuc"Adi l.al.,ular:ua.j i., a►.Ju.a, the amount of the retirement income payable to pensioner, the new joint pensioner and the Retiree and to ensure that the benefit paid is the Actuarial Equivalent of the Member's then -current benefit at the time of the change. Any such M-ember Re shall pay the actuarial recalculation expenses a►..l Jllall .&.alai, aVray..aV..i of ally ., r.,aa�., .,f y.,, r:a,ualy yc►.al y.,..�,a,.. L.,►.,,fit; .., a aVJllli .,f a.1 a V. al.,ulatinns. Each request for a change will be made in writing on a form prepared by the Board and on completion will be filed with the Board. In the event that no designated Beneficiary survives the T:.,, r,1.tcr Retiree, such benefits as are payable in the event of the death of the T;&:,f. f'l'(w. Retiree subsequent to his Retirement shall be paid as provided in Section 11. 5. Retirement income payments shall be made under the option elected in accordance with the provisions of this Section and shall be subject to the following limitations: A. If a Firefighter Member dies prior to his normal retirement date or early retirement date, whichever first occurs, no retirement benefit will be payable under the option to any person, but the benefits, if any, will be determined under Section 7. B. If the designated Beneficiary (or Beneficiaries) or joint pensioner dies before the Firef.d.LA'3 IVMember's Retirement under the System, the option elected will be canceled automatically and a retirement income of the normal form and amount will be payable to the Member upon his Retirement as if the election had not been made, unless a new election is made in accordance with the provisions of this Section or a new Beneficiary is designated by the Firefighter Member prior to his Retirement and -avid :..(90) J.,ya jtcrd,,, &.a h of d,. D...�,Frciary. C. If both the 11, fighter Retiree and the Beneficiary (or Beneficiaries) designated by Member or Retiree die before the full payment has been effected under any option providing for payments for a period certain .and life thereafter, made pursuant to the provisions of subsection 1, the Board may, in its discretion, direct that the commuted value of the remaining payments be paid in a lump sum and in accordance with Section 11. D. If a Firefighter Member continues beyond his normal retirement date pursuant to the provisions of Section 6, subsection 1, and dies prior to his actual retirement and while an option made pursuant to the provisions of this Section is in effect, monthly retirement income payments will be made, or a retirement benefit will be paid, under the option to a 27 Beneficiary (or Beneficiaries) designated by the in the amount or amounts computed as if the I'L Z,51A,... Membe had retired under the option on the date on which his death occurred. 6. A Firefighter may not change his retirement option after the date of cashing or depositing his first retirement check. 7. Notwithstanding anything herein to the contrary, the Board in its discretion, may elect to make a lump sum payment to a Member or a Member's Beneficiary in the event that the monthly benefit amount is less than one hundred dollars (a$100 00) or the total commuted value of the remaining monthly income payments to be paid do not exceed Three fm thousand II,..J.,,d dollars ($3,500.00) ($5,000 00). Any such payment made to any person pursuant to the power and discretion conferred upon the Board by the preceding sentence shall operate as a complete discharge of all obligations under the System with regard to such Member and shall not be subject to review by anyone, but shall be final, binding and conclusive on all persons. 1. Each Firefighter Member or Retiree may, on a form provided for that purpose, signed and filed with the Board, designate a Beneficiary (or Beneficiaries) to receive the benefit, if any, which may be payable in the event of his death..; and Each designation may be revoked or changed by such 1il,.. Member or Retiree by signing and filing with the Board a new designation-of-IZeneficiary form. 1T2on such change, the nights of all previously designated Beneficiaries to receive any benefits under the System shall cease. 2. If a deceased Fircfightei-faiis Member or Retiree failed to name a Beneficiary in the manner prescribed in subsection 1, or if the Beneficiary (or Beneficiaries) named by a deceased I`L,,f.,5l.ter Member or Retiree predeceases the Firefighter Member or Retiree, the death benefit, if any, which may be payable under the System with respect to such deceased Firefighter Member or Retiree, shall be paid to estate of the Member or Retiree and the Board, in its discretion, may direct that the commuted value of the remaininE monthly income benefits be paid in a lump sum. 28 1. The Board shall establish administrative claims procedures to be utilized in processing written requests ("claims"), on matters which affect the substantial rights of any person ("Claimant"), including Members, Retirees, Beneficiaries, or any person affected by a decision of the Board. 2. The Board shall have the power to subpoena and require the attendance of witnesses and the production of documents for discovery prior to and at any proceedings provided for in the Board's claims procedures. The Claimant may request in writing the issuance of subpoenas by the Board. A reasonable fee may be charged for the issuance of any subpoenas not to exceed the fees set forth in Florida Statutes. Each year and no later than March 15th, the CI.�...1Q1. Vfthe Board shall file an Annua report with the Division of Retirement containing the following: documents and information 1. WILe-J..a .11 fuvL &, C.Ly aJ ala VVaaaj.44CLLa C Wjth dI%, F1V Y1J1V./J Vr Ch. I�.11y1i�Aa 2. A 'WaLalavl 06K..lYVla{. Vl QV\.VL4l1L4aZ, 1Va 11061 &&.Mat 1vVv.►� iaJVC�'' VQ1 Vldie eity (or "LLJJLt Ly Q ...ala1.,.J r.,LL'V CLL...VLLAA,. ,L it 1�.L1LL11:,1 Ly G, D,*LY:J:V., .1 R,L..,.....:AL .3L„ w:,,E a 1,,�, 1d ,d L: LL,6 a%A &v Y,d". , 11.V&A, a1,1 � 014:w:...,..i Wf all 11 L J l 11:�i. 11aVV.1lV Cala aJ LLa JylaavllW LL1Ya 1V ..C.a. LfLLV 1 i11VV111V Qll 1.11 1VL11L111W J11Q11 LV 1VVV1JL%., YYa4. �1V QJJV� CiL �1V LV&la.l—AIE, L,.d V.11 Vf a._ y4C'la. J. . 1..V. 1- 1. L_ 11_1 L V f-FCfrglri Va-J MAI G ic force of the City, 111V 1.LL111LV1 }1I.VVVV�11VY 1VQJ V11I1IVJ14JV1.1�Ll VI1Y1VW Ljy J�Vll1lL/, LV 11iLL,IML LVLLl6LL1VLLrML 1Q1.lUldV1 GVl rLILL111V11�L1�1I1�%V1JR1V1�1LvLa1%�Al.aL1QV1,1JV1dQ1.SVJ1111DV�VaA.,VZYrVVA1*".1LL1Va�J J 1CLIa.VL.I IJVfCLLI/aUVI:ALlVa1/..Vlll.. Va j/V11J1V1. rQy1/1N1.L3 Llb JJVl)1Vl► 1/Lly.CLLi V VuI� 1VVV1VV1 Ly 11\.1.1. 4. A" VVl,LL1VLated 1V d.L+ rL.l,d &r l/J. L/VV11,a �1(1la yL.cu, Q1.1 IL, wuvwit dli. C— y vvall ..v.&L.-Lb iLei tV u,v r%....1 %i 11.L..,%-LAv„t rla.. yva.. 29 .�• ii LLII� LV11V11� GLV 4aJUl� YY'fl (i VVliaYlaVi Va�tL Ya 41UlCY a'w VVIa IFIAAIJ, �1V 1V�JV1� JAR .., .,,:ai1V..�1.1r .,r 11..,11.�L.1„1 L.,..,.11tJ t.J tl.,, L.,YI,,1`rw r.., v.1�d-by this .,..L..l....,;.. TlJl.,.11 LV ..A. :::::YySy.,�.�..�:L.,.: 4L. -A Q.., 1..J... Va, Lu�:�*.,f r..,...1,.... A"LO, IIIVI L� tL1LIlV, 4atVa VJ� YQtVJ L.d LilVLL1VLL used '"'a Y'dYli►& iV�Vlaa VY/� L\raavFLL. 1G. T11G a%ltuallal YalUataVil Vf LIZV SyJtNlll GLJ y1VV'Jlld T. 111 ►J%,%A!V11 3. Cuch �caluu�.vli Jllo'al L./ yl V1JGLib1 Ly "L .,lu.,ll6,1 a%AuaLy wlav 10 %.l.l Vll., " %-.I C of Till., 3, Vi U1V LiYi�V,' VV I.VLV.aa'VaaI Ll.rmnl . �VVUi lly l� QLLU W 1,V 1J a LI16,111.n1 Vf a'v �'..�Vav tp 14,1t1V3 Vl t&G lkIIV11VL11a A,,Jemy of Actuaries. The Secretary of the Board shall keep a record of all persons enjoying a pension under the provisions of this ordinance in which it shall be noted the time when the pension is allowed and when the same shall cease to be paid. Additionally, the Secretary shall keep a record of all Firefighters employed by the Municipality in such a manner as to show the name, address, date of employment and date such employment is terminated. T11V Ducud alay V111ylVy 111 &iiL l.,gal .iVul1J1.1 lll.+ 6rJyJ1.111 J Vf►yl11JV LA. the 1J....1./VJvJ VV..�IV� laVl Vila, lV�VlliVi "A JU%ol Vll1.I1 F,1%-PL iVllal, L%IIAA11Va1, Vl V<11V1 «1YiJVL0 as -thy, II„,..11..V........,,,,.; IC"J . Subject to the adjustments hereinafter set forth, the maximum amount of annual retirement income payable with respect to a Member under this System shall not exceed ninety thousand dollars ($90,000). For purposes of applying the above limitation, benefits payable in any form other than a straight life annuity with no ancillary benefits shall be adjusted, as provided by Treasury Regulations, so that such benefits are the Actuarial Equivalent of a straight life annuity. For purposes of this Section, the following benefits shall not be taken into account: (1) Any ancillary benefit which is not directly related to retirement income benefits; Ca (2) Any other benefit not required under §415(b)(2) of the Code and Regulations thereunder to be taken into account for purposes of the limitation of §415(b)(1) of the Code. The limitation of this Section with respect to any Member who at any time has been a member in any other defined benefit plan (as defined in §4140) of the Code) maintained by the City shall apply as if the total benefits payable under all defined benefit plans in which the Member has been a member were payable from one a) plan. A. In the event the Member's retirement benefits become payable before age sixty-two (62), the ninety thousand dollar ($90,000) limitation prescribed by this Section shall be reduced in accordance with Regulations issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the Code, but not less than seventy-five thousand dollars ($75,000) if the benefit begins at or after age fifty-five (55). In the event the Member's retirement benefit becomes payable before age fifty-five (55), the seventy-five thousand dollar ($75,000) limitation shall be reduced from age fifty-five (55) in accordance with Regulations issued by the Secretary of the Treasury pursuant to the provisions of §415(b) of the Code. B. In the event the Member's benefit is based on at least fifteen (15) years„ ; of Credited Service, the adjustments provided for in A. above shall not apply. C. The reductions provided for in A. above shall not be applicable to disability benefits paid pursuant to Section 8, or pre -retirement death benefits paid pursuant to Section 7. D. In the event the Member's retirement benefit becomes payable after age sixty-five (65), for purposes of determining whether this benefit meets the limitation set forth in subsection 1 herein, such benefit shall be adjusted so that it is actuarially equivalent to the benefit beginning at age sixty-five (65). This adjustment shall be made using an assumed interest 31 0 rate of five percent (5 %) and shall be made in accordance with regulations promulgated by the Secretary of the Treasury or his delegate. The maximum retirement benefits payable under this Section to any Member who has completed less than ten (10) years of Credited Service with the City shall be the amount determined under subsection 1, of this Section multiplied by a fraction, the numerator of which is the number of the Member's years of Credited Service and the denominator of which is ten (10). The reduction provided for in this subsection shall not be applicable to disability benefits paid pursuant to Section 8, or pre -retirement death benefits paid pursuant to Section 7. Notwithstanding the foregoing, the retirement benefit payable with respect to a Member shall be deemed not to exceed the limitations set forth in this Section if the benefits payable, with respect to such Member under this System and under all other qualified defined benefit pension plans to which the City contributes, do not exceed ten thousand dollars ($10,000) for the applicable Plan Year and for any prior Plan Year and the City has not at any time maintained a qualified defined contribution plan in which the Member participated. MKOTiTne MI —se ;IF "I In any case where a Member under this System is also a member in a "Defined Contribution Plan" as defined in §414(i) of the Code, maintained by the City, the sum of the "Defined Benefit Plan Fraction" and the "Defined Contribution Plan Fraction" (both as defined in §415(e) of the Code) shall not, subject to the restrictions and exceptions contained in §2004 of the Act, exceed 1.0. This limitation is repealed effective January 1, 2000. 7. Reduction of Benefits. Reduction of benefits and/or contributions to all plans, where required, shall be accomplished by first reducing the Member's benefit under any defined benefit plans in which Member participated, such reduction to be made first with respect to the plan in which Member most recently accrued benefits and thereafter in such priority as shall be determined by the Board and the plan administrator of such other plans, and next, by reducing or allocating excess forfeitures for defined contribution plans in which the Member participated, such reduction to be made first with respect to the plan in which Member most recently accrued 32 benefits and thereafter in such priority as shall be established by the Board and the plan administrator for such other plans provided, however, that necessary reductions may be made in a different manner and priority pursuant to the agreement of the Board and the plan adminis- trator of all other plans covering such Member. 8. Cost -of -Living Adjustments. The limitations as stated in Subsections 1, 2, 3, and 6 herein shall be adjusted to the time payment of a benefit begins in accordance with any cost -of -living adjustments prescribed by the Secretary of the Treasury pursuant to §415(d) of the Code. Notwithstanding anything herein to the contrary: A. The normal retirement benefit or pension payable to a Retiree who becomes a Member of the System and who has not previously participated in such System, on or after January 1, 1980, shall not exceed one hundred percent (100%) of his Average Final Compensation. However, nothing contained in this Section shall apply to supplemental retirement benefits or to pension increases attributable to cost -of -living increases or adjustments. B. No Member of the System shall be allowed to receive a retirement benefit or pension which is in part or in whole based upon any service with respect to which the Member is already receiving, or will receive in the future, a retirement benefit or pension from c".%vJj, ,. a different emUloyer's retirement system or plan. This restriction does not apply to social security benefits or federal benefits under Chapter 67, Title 10, U.S. Code. SECTION 10 16, DISTREBUTI_ON OF BENEFITS. Notwithstanding any other provision of this System to the contrary, a form of retirement income payable from this System after the Effective Date of this ordinance, shall satisfy the following conditions: 33 u 1. If the retirement income is payable before the Member's death, A. It shall either be distributed or commence to the Member not later than April 1 of the calendar year following the later of the calendar year in which the Member attains age seventy and one-half t70-1/2), or the calendar year in which Member retires, B. The distribution shall commence not later than the calendar year defined above; and a), shall be paid over the life of the Member or over the life- times of the Member and Spouse, issue or dependent, or b), shall be paid over the period extending not beyond the life expectancy of the Member and Spouse, issue or dependent. Where a form of retirement income payment has commenced in accordance with the preceding paragraphs and the Member dies before his entire interest in the System has been distributed, the remaining portion of such interest in the System shall be distributed no less rapidly than under the form of distribution in effect at the time of the Member's death. 2. If the Member's death occurs before the distribution of his interest in the System has commenced, the Member's entire interest in the System shall be distributed within five (5) years of 1hr, Member's death, unless it is to be distributed in accordance with the following rules: A. The Member's remaining interest in the System is payable to his Spouse, issue or dependent; B. The remaining interest is to be distributed over the life of the Spouse, issue or dependent or over a period not extending beyond the life expectancy of the Spouse, issue or dependent; and C. Such distribution begins within one W year of the Member's death unless the Member's Spouse shall receive the remaining interest in which case the distribution need not begin before the date on which the Member would have attained age seventy and one-half, 70-1/2) and if the Spouse dies before the distribution to the Spouse begins, this Section shall be applied as if the Spouse were the Member. 34 At no time prior to the satisfaction of all liabilities under the System with respect to Members and their Spouses or Beneficiaries, shall any part of the corpus or income of the Fund be used for or diverted to any purpose other than for their exclusive benefit. ►• • �•� • r -• : �' • No amendment or ordinance shall be adopted by the City Council of the City of Okeechobee which shall have the effect of reducing the then vested accrued benefits of Members or a Member's Beneficiaries. E111105,17"KIISFUTS We It is intended that the System will constitute a qualified public pension plan under the applicable provisions of the Code, as now in effect or hereafter amended. Any modification or amendment of the System may be made retroactively, if necessary or appropriate, to qualify or maintain the System as a Plan meeting the requirements of the applicable provisions of the Code as now in effect or hereafter amended, or any other applicable provisions of the U.S. federal tax laws, as now in effect or hereafter amended or adopted, and the regulations issued thereunder. - . • ri�iiii�� Forfeitures arising from terminations of service of Members shall serve only to reduce future City contributions. 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 be inadequate. 2. If this ordinance shall be repealed, or if contributions to the System are Ire 35 • functions as provided in Chapter 121, Florida Statuteg, the Board shall continue to administer the System in accordance with the provisions of 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, ox if c.... t lLau .,..a tv Us%, Sy oL ... k.., „�..1:..,.,,1; discontinuance of contributions, or transfer merger or consolidation of government unittg, services or functions, 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 in accordance with the provisions thereof. 3. The following shall be the order of priority for purposes of allocating the assets of the System as of the date of repeal of this ordinance, or if contributions to the System are discontinued with the date of such discontinuation being determined by the Board. A. Apportionment shall first be made in respect of each Retiree receiving a retirement or disability benefit hereunder on such date, each person receiving a benefit on such date on account of a retired or disabled (but since deceased) Member, and each Member who has, by such date, become eligible for normal retirement but has not yet retired, an amount which is the Actuarial Equivalent of such benefit, provided that, if such asset value be less than the aggregate of such amounts, such amounts shall be proportionately reduced so that the aggregate of such reduced amounts will be equal to such asset value. B. If there be any asset value remaining after the apportionment under paragraph A, apportionment shall next be made in respect of each Member in the service of the City on such date who is vested and who is not entitled to an apportionment under paragraph A, in the amount required to provide the Actuarial Equivalent of the vested portion of the accrued normal retirement benefit (but not less than Accumulated Contributions), based on the Credited Service and Average Final Compensation as of such date, and each vested former Member then entitled to a deferred benefit who has not, by such date, begun receiving benefit payments, in the amount required to provide said Actuarial Equivalent of the vested portion of the accrued normal retirement benefit (but not less than Accumulated Contributions), provided that, if such remaining asset value be less than the aggregate of the amounts apportioned hereunder, such latter amounts shall be proportionately reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. C. If there be any asset value after the apportionments under paragraphs A and B, apportionment shall be made in respect of each Firefighter Mgt in the service of the City on such date who is not entitled to an apportionment under paragraphs A and B in the amount equal to Member's Accumulated Contributions, provided that, if such remaining asset value be less than the aggregate of the amounts apportioned here- under such latter amount shall be proportionately reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. D. If there be any asset value remaining after the apportionments under paragraphs A, B, and C, apportionment shall lastly be made in respect of each Member included in paragraph C above to the extent of the Actuarial Equivalent of the non -vested accrued normal retirement benefit, :. less the amount apportioned in paragraph C, based on the Credited Service and Average Final Compensation as of such date, provided that, if such remaining asset value be less than the aggregate of the amounts apportioned hereunder, such amounts shall be reduced so that the aggregate of such reduced amounts will be equal to such remaining asset value. E. In the event that there be asset value remaining after the full apportion- ment specified in paragraphs A, B, C, and D, such excess shall be returned to the City, less return of the State's contributions to the State, 37 • provided that, if the excess is less than the total contributions made by the City and the State to the date of termination such excess shall be divided proportionately to the total contributions made by the City and the State. 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 Fund may be continued in existence for purposes of subsequent distributions. If, at any time during the first ten (10) years after the effective date of the ordinance originally establishing this System, the System shall be terminated or the full current costs of the System shall not have been met, anything in the System to the contrary not- withstanding, City contributions which may be used for the benefit of any one W of the twenty-five (25) highest paid Fi l'.�ht,...,f die-Eity Members on the effective date, whose anticipated annual retirement allowance provided by the City's contributions at Member's normal retirement date would exceed one thousand five hundred dollars ($1,500), shall not exceed the greater of either a) twenty thousand dollars 4$20,000), or b), an amount computed by multiplying the smaller of ten thousand dollars 4$10,000) or twenty percent (20 %) of such Fiml'%hL.'a Member' s average annual earnings during his last five (5) years of service by the number of years of service since the effective date. In the event that it shall hereafter be deter- mined by statute, court decision, ruling by the Commissioner of Internal Revenue, or otherwise, that the provisions of this paragraph are not then necessary to qualify the System under the Code, this paragraph shall be ineffective without the necessity of further amendment of this ordinance. 4. After all the vested and accrued benefits provided hereunder have been paid and after all other liabilities have been satisfied, then and only then shall any remaining funds revert to the general fund of the City. kv RFCTIO 2+19 EXEMEMM FROM EXECUTION, NON-ASSIGNARIL.i'TY. Except as otherwise provided by law, the pensions, annuities, or any other benefits accrued or accruing to any person under the provisions of this ordinance and the Accumulated Contributions and the cash securities in the Fund created under this ordinance are hereby exempted from any state, county or municipal tax and shall not be subject to execution, attachment, garnishment or any legal process whatsoever and shall be unassignable. The Board shall have the power to examine into the facts upon which any pension shall heretofore have been granted under any prior or existing law, or shall hereafter be granted or obtained erroneously, fraudulently or illegally for any reason. Said Thk Board is empowered to purge the,Mnsion rolls or correct the pension roHs amount of any person heretofore granted a pension under prior or existing law or hereafter granted a pension under this ordinance if the same is found to be erroneous, fraudulent or illegal for any reason; and to reclassify any person who has heretofore under any prior or existing law been or who shall hereafter under this ordinance be erroneously, improperly or illegally classified. Any overpayments or underpayments shall be corrected and paid or repaid in a reasonable manner determined by the V-317774 1. Any who is convicted of the following offenses committed prior to Retirement, or whose employment is terminated by reason of his admitted commission, aid or abetment of the following specified offenses, shall forfeit all rights and benefits under this System, except for the return of his Accumulated Contributions but without interest, as of the date of termination. Specified offenses are as follows: A. The committing, aiding or abetting of an embezzlement of public funds; B. The committing, aiding or abetting of any theft by a public officer or employee from employer; C. Bribery in connection with the employment of a public officer or employee; D. Any felony specified in Chapter 838, Florida Statutes. E. The committing of an impeachable offense. 39 t� • • F. The committing of any felony by a public officer or employee who willfully and with intent to defraud the public or the public agency, for which he acts or in which he is employed, of the right to receive the faithful performance of his duty as a public officer or employee, realizes or obtains or attempts to obtain a profit, gain, or advantage for himself or for some other person through the use or attempted use of the power, rights, privileges, duties or position of his public office or employment position. 2. Conviction shall be defined as an adjudication of guilt by a court of competent jurisdiction; a plea of guilty or a nolo contendere; a jury verdict of guilty when adjudication of guilt is withheld and the accused is placed on probation; or a conviction by the Senate of an impeachable offense. 3. Court shall be defined as any state or federal court of competent jurisdiction which is exercising its jurisdiction to consider a proceeding involving the alleged commission of a specified offense. Prior to forfeiture, the Board shall hold a hearing on which notice shall be given to the Member whose benefits are being considered for forfeiture. Said Member shall be afforded the right to have an attorney present. No formal rules of evidence shall apply, but the Member shall be afforded a full opportunity to present his case against forfeiture. 4. Any Member who has received benefits from the System in excess of his Accumulated Contributions after Member's rights were forfeited shall be required to pay back to the Fund the amount of the benefits received in excess of his Accumulated Contributions, but without interest. The Board may implement all legal action necessary to recover such funds. RI 61 l I e I e►I "M 1119VIIII911► 13 M ITIR OR Wil 11 IRS ; 1 I► G T ,,, •: •1 . i• • • •1 •1111 a 11 •- •1" �• • �- • e- 40 described 1 subsec• • 1 \/ " mber or Beneficiary of 1 " - 11 11 , 1 1 " • • • 1 • t " MsMvFriTsMW is withheld 1. To the extent not covered by insurance contracts in force from time to time, the City shall indemnify, defend and hold harmless members of the Board from all personal liability for damages and costs, including court costs and attorneys' fees, arising out of claims, suits, litigation, or threat of same, herein referred to as "claims", against these individuals because of acts or circumstances connected with or arising out of their official duty as members of the Board. The City reserves the right, in its sole discretion, to settle or not settle the claim at any time, and to appeal or to not appeal from any adverse judgment or ruling, and in either event will indemnify, defend and hold harmless any members of the Board from the judgment, execution, or levy thereon. 2. This Section shall not be construed so as to relieve any insurance company or other entity liable to defend the claim or liable for payment of the judgment or claim, from any liability, nor does this Section waive any provision of law affording the City immunity from any suit in whole or part, or waive any other substantive or procedural rights the City may have. 3. This Section shall not apply nor shall the City be responsible in any manner to defend or pay for claims arising out of acts or omissions of Members of the Board which constitute felonies or gross malfeasance or gross misfeasance in office. SECTION 25 24, TRANSFERS WITHIN THE CITY. If a member of any of the City's three W retirement systems transfers to either of the other two Q systems, he must choose one of the following procedures with regard to Credited Service accrued to date of transfer. 41 1. The Member may take a refund of his Accumulated Contributions, in which event no pension benefit shall be payable based on Credited Service attributable to the period covered. 2. The member may leave his Accumulated Contributions in the fund, in which event his Credited Service with both systems shall be combined for purposes of determining eligibility for benefits and for vesting. When the member is eligible to receive a benefit, he shall receive benefits from both systems, which shall consist of accrued benefits under each system based on the provisions of the respective system and the earnings and Credited Service under that system. SECTION -26 25. MILITARY SERVICE PRIOR TO RW O� The years or fractional parts of years that a Firefighter serves or has served on active duty in the active military service of the Armed Forces of the United States.,or the United States Merchant Marine or the United States Coast Guard, voluntarily or involuntarily, honorably or under honorable conditions, prior to first and initial employment with the City Fire Department shall be added to his years of Credited Service provided that: 1. The :::,,f ,ht. ,, Member contributes to the Fund the sum that he would have contributed had he been a member of the System for the years or fractional parts of years for which he is requesting credit plus amounts actuarially determined such that the crediting of service does not result in any cost to the Fund plus payment of costs for all professional services rendered to the Board in connection with the purchase of years of Credited Service. 2. The request shall be made only once and made by the Fighter Membe on or before tYY,.:ry (12)1►►„►►d►, f:Vlll dA,, Eff,,,,6,,, Dal,. „f du., ,,six (6) months from the date of his employment with the City Fire Department, Y�11:,,1►,.Y,il io later. 3. Payment by the ru„f1�1tW1 Member of the required amount shall be made within six (6) months of his request for credit and shall be made in one W lump sum payment upon receipt of which Credited Service shall be given. 4. The maximum credit under this Section shall be four (4) years. 5. Credited Service purchased pursuant to this section shall not count toward vesting. 42 SECTION 2-7 26. DYRECT AN. FERS OF ELIC=IBLE ROLLOVER _ DISTRIBUTION . 1. General. This Section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this Section, a distributee may elect, at the time and in the manner prescribed by the Board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. 2. Definitions. A. Eligible Rollover Distribution: An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated Beneficiary, or for a specified period of ten UM years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Code; and the portion of any distribution that is not includible in gross income. B. Eligible Retirement Plan: An eligible retirement plan is an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408(b) of the Code, an annuity plan described in section 403(a) of the Code, or a qualified trust described in section 401(a) of the Code, that accepts the distributee's eligible rollover distribution. However, in the case of an eligible rollover distribution to the surviving Spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. 43 • C. Dsstributee: A distributee includes an employee or former employee. In addition, the employee's or former employee's surviving Spouse is a distributee with regard to the interest of the Spouse. D. Direct Rollover: A direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee. T1.V of-thcU.utV1 S a... U.ul..d Ghat... Cx .13i G.aa 1, .. hA-A-A aa:l. .,::.:.Vl::.:":lr, krtV. �.,raaaL.,.. r.Va...,...ir'..,yi..V..t k ria.,L LtVL VVr1. Qa., City l., r„ ar.,a... l.w...:..E, VL �.,..,,,,, �l.a:l LV k11V1 lVy�ka� ..r CaV1:t.,1 ;%,L Y:VV La Z J'VJ, :i.VlVd:ilE, V VA4•Ir,, F.V Ylded-thal. A. TILL, r:aZ1FLrjf..,a .....;,t a.,l..a.. t� L4, .,...r1Vy....... l y.,aa r hia a:JVl.".bV .,. 1.:12 Awl- OV, f101111 JVL YLVV• D. TI.V r:aVr. l.iVa a..,F J. :..t., ti1N r1J11a a1N �al.av auma u.al t1.V P.fVa..LVa 04.,_11 11aYV VVIYt►.LLLtv1 .r 11V llal 1%1AAk"la►V1 a ]FAA%, g1ltVL 1La1L.lf, la.J «L4 1%, • T1YV all 111.JJV1 _WA .�:LY V..J YY:d1:11 a iJ�...:va VYLLGEl LV d..VN (3) t::..,,� tl.,, Y,,::,,1 .,r...:Lla.y a ,. t:, v, L..t ..V� ...VaV tl.••a•... r ;5) y,.uLJ .,1 11V a rig! L 1. 1�.VV1YV C1V1:1a,1 3\.1 Y:VV rVl 11:J 111111ta1y JV. Y.VV Fu1JLLa11t L�UaIJ VV./t.V IY. C. T11V 1.1aJ.1a 11LL111 V.V11t rVa aaa� y JVa YYVV iJLL1JLL0..►t 1V Y.1J aJVVtIVI► Jl►an LV liY V r D. ALL V.aV. (t'V .iYAI..�' rVY �aV �J.ai VlIGJV Vr CLa JAL%A ►�V. Y.VV �JYlJ4Caa YL 1V d, G.L!"aa, th- ruVr:�l►tVa 11YLLJt ll0.YV L.Vll a1.lVllalSV1 V. .V1V0.JV1 rlVlll JVlY1VV LLll&r 11V1.V10.1li./ VVaa1a �.il 1J• ThAa O—G.,.. .J aa1LVl.aVa tV 11►VV1 VA V/.VVV1 11lV aaau a.Ya Y.aYaY 1VliLL.a.V.An aitS Of U/V lJ1ZVllllVa ►j\rl Y11.VJ 1E111j/1V.Y1AL%,1 t Glla 1\VV1111J1V�'1111r.1t 1.1�1aW Act (� 1., . �).. Tv VtiV.. a.,VJ ..W1...V.,� t(hl., 11/1..11Y.a1 J1QlldaLda Vr USrT�, as It 111Q,y LV 0.1111,llaVa r1V... "A%1 tV "I%." 4.1N ■l..l.aa..uaa. Jtaaadard.4 Jl►all ayk,lY bm\ok\fire\O5-11-00. ord 44 EXHIBIT 3 - 6/20 AGENDA Sunday I Monday I Tuesday I Wednesday I Thursday Friday Saturday -AQ-,31 Blt;r VbT mr MT, L3, Fla MY ��JI f3� jam ZbT, ��, � _A��7, c.�, 3k0. r st', taJ; F!At.- EXHIBIT 4 - 6 / 20 AGENDA FLORIDA LEAGUE OF CITIES INC. Memorandum TO: City Managers/City Clerks FROM: Michael Sittig, Executive Directoroll�ll DATE: June 1, 2000 SUBJECT: 74th Annual Conference — Florida's Cities evolve -emerge -imagine VOTING DELEGATE AND RESOLUTION INFORMATION August 10-12, 2000 — Broward County Convention Center As you know, the Florida League of Cities' Annual Conference will be held at the Broward County Convention Center in Fort Lauderdale on August 10-12. This year's theme, Florida's Cities evolve -emerge -imagine, will provide valuable educational opportunities to help Florida's city officials serve their citizenry more effectively. It is important that each city designate one person to be the voting delegate. Policy development, election of League leadership and adoption of resolutions are undertaken during the business meeting. One official from each city will make decisions that determine the direction of the League. Registration materials have already been sent to each city. Call us if you need more. We have attached the procedures your city should follow for presenting resolutions to the League membership. Resolutions must be received by the League no later than July 10, 2000. Should you have any questions or need additional information, please feel free to call Allison Payne or Kelvin Robinson at Suncom 278-5331 or 1-800-342-8112. MS:bcs Attachments: Form Designating Voting Delegate Procedures for Submitting Conference Resolutions 301 South Bronough Street • Post Office Box 1757 • Tallahassee, FL 32302-1757 Telephone (850) 222-9684 • Suncom 278-6331 • Fax (850) 222-3806 • Internet: http://fcn.state.fl.ustlict u 74th Annual Conference Florida League of Cities, Inc. August 10-12, 2000 Fort Lauderdale, Florida It is important that each member city sending delegates to the Annual Conference of the Florida League of Cities, designate one of their officials to cast their votes at the Annual Business Session. League By -Laws requires that each city select one person to serve as the city's voting delegate. Please fill out this form and return it to the League office so that your voting delegate may be properly identified. Designation of Voting Delegate Name of Voting Delegate: Title: City of: AUTHORIZED BY: Name Title Return this form to: Gail Dennard Florida League of Cities, Inc. Post Office Box 1757 Tallahassee, FL 32302-1757 Or Fax to Gail Dennard at (850) 222-3806 0 Procedures for Submitting Resolutions 74th Annual Conference Florida League of Cities, Inc. August 10-12, 2000 Fort Lauderdale, Florida In order to fairly systematize the method for presenting resolutions to the League membership, the following procedures have been instituted: (1) Proposed resolutions must be submitted in writing, to be received in the League office a minimum of 30 days prior to the first day of the annual conference. (2) Proposed resolution will be rewritten for proper form, duplicated by the League office and distributed to members of the Resolution Committee at least 15 days prior to the first day of the annual conference. (Whenever possible, multiple resolutions on a similar issue will be rewritten to encompass the essential subject matter in a single resolution with a listing of original proposers.) (3) Proposed resolutions may be submitted directly to the Resolutions Committee at the conference; however, a favorable two-thirds vote of the committee will be necessary to consider such resolutions. (4) Proposed resolutions may be submitted directly to the business session of the conference without prior committee approval by a vote of two-thirds of the members present. In addition, a favorable weighted vote of a majority of members present will be required for adoption. (5) Proposed resolutions relating to state legislation will be referred to the appropriate standing policy committee. Such proposals will not be considered by the Resolution Committee at the conference; however, all state legislative issues will be by the standing policy committees and the Legislative Committee prior to the membership at the annual Legislative Conference each fall. At that time, a state Legislative Policy Statement will be adopted. Cities unable to formally adopt a resolution 30 days prior to the first day of the conference may submit a letter to the League office indicating their city is considering the adoption of a resolution, outlining the subject thereof in as much detail as possible, and this letter will be forwarded to the Resolutions Committee for consideration in anticipation of receipt of the formal resolution. IMPORTANT DATES May 26 July 24 Notice to Local League Presidents and Municipal Resolutions Mailed to Associations Requesting Nominees to the Resolutions Committee Resolutions Committee E is ,//Ot OKffp�o Z a V ' t Phi R10110� To: Mayor, Council, and Staff From: Bonnie S. Thomas Subject: Agenda Add On Date: June 15, 2000 Office of the Crty Clerk/f ereonnel Adminietrator After completing the agenda packets, the attached document was presented to be added to the agenda. This will be presented as a new business item by Mr, Veach as Exhibit 5. 6/20 AGENDA GROUP INSURANCE City of Okeechobee Group Health Insurance October 1, 2000 Renewal Comparison Benefits : Care Manager A16- HMO- $5 Office Visit Co -Pay; $0 Hospital Co -Pay; $25 ER CO -Pay Traditional- $300 Calendar Year Deductible; $300 Hospital Deductible 80 % Co -Insurance; $2000 Out of Pocket Limit Prescriptions- $5 Generic, $10 name Brand Care Manager A17- HMO- $10 Office Visit Co -Pay; $100/day Hospital Co -Pay up to $500 $50 ER Co -Pay Traditional- $500 Calendar Year Deductible; $500 Hospital Deductible 70 % Co -Insurance; $3000 Out of Pocket Limit Prescriptions- $7 Generic, $20 name Brand Rates : Care Manager A16 (Present Plan) Present Renewal Employee (36) $ 184.10 $ 230.10 Empl/Sp (5) $ 414.00 $ 517.50 Empl/Ch (12) $ 384.30 $ 480.30 Family (5) $ 614.30 $ 767.80 Monthly Total $ 16,382 $ 20,475 (25.0 %) Annual Employer Cost $ 146,616 $ 178,632 Annual Employer Cost $ Change $ 32,016 (21.8 %) Care Manager A17 (Alternate Plan) Renewal $ 212.30 $ 475.10 $ 442.50 $ 705.30 $ 18,855 (15.1 %) $ 166,236 $ 19,620 (13.4 %) 18230 RIVER OAKS DRIVE 0 JUPITER, FL 33458 • PHONE 561-747-5636 • FAx 561-747-3524 • 800-972-0963 ppk� ..�� 900 E. Pdma VisW Blvd. ► M* S.hkM • Pat SL Lucie, FL 34952 a Florkis ® o An Nhpwdwd Lbu eee of the Bloe crow wul Blue SWd Aswd bn June 05, 2000 JAMES KIRK CITY OF OKEECHOBEE 55 SE 3RD AVE OKEECHOBEE, FL 34974-2903 DEAR JAMES KIRK: Thank you for being part of the one million plus Florida residents covered by Blue Cross and Blue Shield of Florida, Inc./Health Options, Inc. (BCBSF/HOI). We look forward to continuing to provide your business with quality health care coverage. Your contract anniversary date is August 01, 2000. We have reviewed all of the factors which affect the cost of your health benefits program and have determined that the following rates will be necessary to maintain your current group program during the upcoming contract period: Employee Only Employee/Spouse Employee/Child Employee/Family HEALTH: $230.10 $517.50 $480.30 $767.80 The rates assume that your group does not qualify as a Small Group according to Section 627.6699, Florida Statutes. In the event that your group has 50 or fewer eligible employees, (employees who work 25 hours or more per week), please call me for the appropriate renewal premium. To continue a smooth flow of benefits and claims for your employees, please complete and sign the attached Enrollment Summary and return it to our office along with a copy of your most recent Employer's Quarterly Tax Report (UCT-6) by the 15th of the month prior to your renewal date. If a decision is made to change the group benefits to another plan design, a new contract must be signed and returned at least two weeks prior to the effective date in order to assure a smooth transition. If no change is requested, your current plan will continue at the new rates indicated above, effective on the contract anniversary date. Under the Health Insurance Portability and Accountability Act (HIPAA) your group is required to hold an annual open enrollment. Your group's open enrollment period will be 30 days prior to your anniversary date. Eligible employees and their eligible dependents who have satisfied their waiting period can now enroll for coverage. Finally, in reviewing your account, I would also like to advise you that BCBSF/HOI can offer the following additional products: Dental Voluntary - Life, STD, LTD Short Term Disability Premium Conversion Plan (Sec. 125) Long Term Disability Flexible Spending Accounts (FSAs) Basic Life 401K I will contact you soon to explore these opportunities and discuss your renewal in detail. Thank you for the opportunity to serve you and your employees. We value your company's business and look forward to working with you in the future. Sincerely, ack.�c_d LINDA LOWERS ACCOUNT REP cc: GROUP INSURANCE SOLUTIONS INC Phone: 561-747-5636 Fax: 561-747-3524 In order to complete the renewal process for your group without any interruptions in service or claims processing for your employees, I have enclosed a packet of forms for completion and signature with your renewal paperwork. Please fax me the following signed documents before July 15, 2000 for processing in Jacksonville. 1. Enrollment Summary (included with your renewal letter) Please sign the bottom of the form where indicated for Group Officer's Signature. 2. Return your most recently completed UCT-6, top page with employee listing attached. Cross through any terminated employees. Indicate part time employees on listing. Indicate employees in waiting period on listing. Indicate employees waiving off coverage or with other coverage on listing. Indicate Cobra employees on listing. This information helps you complete the summary recap section II A-B-C-D and also 1-2-3-4 of Section III. If you prefer please call me at 561-878-2766 and I will help you complete the Enrollment Summary. Please fax all these forms to me for processing to Jacksonville no later than July 15, 2000 to keep your existing plan in force for your renewal @ 561-878-3740. Should you have any questions or want to change your plan, please do not hesitate to contact me at 561-878-2766. Thank you. Linda Lowers Account Representative 6 City of Okeechobee Group Health Insurance October 1, 2000 Renewal Comparison Care Manager A16- HMO- $5 Office Visit Co -Pay; $0 Hospital Co -Pay; $25 ER CO -Pay Traditional- $300 Calendar Year Deductible; $300 Hospital Deductible 80 % Co -Insurance; $2000 Out of Pocket Limit Prescriptions- $5 Generic, $10 Name Brand Care Manager A17- HMO- $10 Office Visit Co -Pay; $100/day Hospital Co -Pay up to $500 $50 ER Co -Pay Traditional- $500 Calendar Year Deductible; $500 Hospital Deductible 70 % Co -Insurance; $3000 Out of Pocket Limit Prescriptions- $7 Generic, $20 Name Brand Rates : Care Manager A16 (Present Plan) Present Renewal Employee (36) $ 184.10 $ 230.10 Empl/Sp (5) $ 414.00 $ 517.50 Empl/Ch (12) $ 384.30 $ 480.30 Family (5) $ 614.30 $ 767.80 Monthly Total $ 16,382 $ 20,475 (25.0 %) Annual Employer Cost $ 146,616 $ 178,632 Annual Employer Cost $ Change $ 32,016 (21.8 %) Care Manager A 17 (Alternate Plan) Renewal $ 212.30 $ 475.10 $ 442.50 $ 705.30 $ 18,855 (15.1 %) $ 166,236 $ 19,620 (13.4 %) 18230 RIVER OAKS DRIVE 0 JUPITER, FL 33458 • PHONE 561-747-5636 • FAx 561-747-3524 • 800-972-0963 DUP . 0 z 77, City of Okeechobee Blue Cross/ Blue Shield Rate History 8/1/97 to Category 8/1/98 Employee (36) $ 175.30 Employee/ (5) 394.30 Spouse Employee/ (12) 366.00 Children Family (5) 585.00 Monthly Total 15,993 Annual Employer 140,489 Cost Annual Employer Cost % Change Cumulative Employer Cost % Change Plan Year 8/1 /98 to 8/l /99 to 8/1 /00 to 8/1/99 8/l/00 8/l/01 $ 175.30 $ 184.10 $ 230.10 394.30 414.00 517.50 366.00 384.00 480.30 585.00 614.30 767.80 15,993 16,377 20,475 140,489 146,616 178,632 0.0 % 4.4 % 21.8 % 6.8 % " 18230 RIVER OAKS DRIVE 0 .JUPITER, FL 33458 • PHONE 561-747-5636 • FAX 561-747-3524 9 800-972-0963 v 9 City of Okeechobee Blue Cross/ Blue Shield Rate History Plan Year PrinGPj M J+vet-l& 8/1/97 to 8/1/98 to 8/1/99 to 8/1/00 to t/d q to To Catei?ory 8/1/98 8/1/99 8/l/00 8/l/01 9/11 ell Employee (36) $ 175.30 $ 175.30 $ 184.10 $ 230.10 25& - 9/ Employee/ (5) 394.30 394.30 414.00 517.50 1552,11 Spouse Employee/ (12) 366.00 366.00 384.00 480.30 #96,7l Children Family (5) 585.00 585.00 614.30 767.80 Monthly Total 15,993 15,993 16,377 20,475 7 (P O Annual Employer 140,489 140,489 146,616 178,632 Cost — Annual Employer 0.0 % 4.4 % 21.8 % Cost % Change Cumulative Employer 6 8 % J Cost % Change 18230 RIVER OAKS DRIVE • JuPrrER, FL 33458 • PHONE 561-747-5636 0 FAX 561-747-3524 • 800-972-0963 EXHIBIT 6- JUN 20 AGENDA Item Added to the agenda. MEMORANDUM Office of the City Administrator To: Mayor, Council Members and City Attorney From: Bill L. Veach, City Administrator(3 Subject: New Business Item D, Exhibit 6, Addition to June 20 Agenda Date: June 20, 2000 We need an emergency repair on a drainage situation at Southwest 2"d Avenue and 8m Street. The cost of this repair will be $15,080,00, Public Works deems this an emergency situation, Due to the time needed to bid this project out, the rainy season could be underway, We have been told by B & B Site Development, Inc. that they could make necessary repairs during the first two weeks of July. 01!1412000 08:56 863-763-08 3 B SITE DEVELOP* PAGE 01 SITE DEVELOPMENT, INC. B MICHELLE H. SAUGHMAN. President PHILIP J. BAUGHMAN. Vice President JANUARY 14, 2000 CITY OF oamcHOBEE STREET DEPARTMENT SS S.E. 3M AVEN Oj=CHOBEE, VIA- 34974 (063)763.39U (863)763.160 FAX ATTN1: CLEVELAND ,q!['uU 1ZINC3 IN LANDFILL CELL CONSTRUCTION COMPUTE SITE PWARATIONS SEPTIC TANK INSTALLATIONS AND REPAIRS EXCAVATING a LANOCLEARING HAILING SHELL, FILL DIRT. SAND, TOPSOIL & ROCK 1505-C SOUTH PARROTT AVE. OKEECHOBEE. FL 34974 941-7634W53 FAX 941-763-49Q 8 & B SITE DEVELOPMENT, INC AGREES TO SLWLY ALL NECESSARY EQUIPMENT, LABOR AND MATERIALS TO DO THE FOLLOWING: 1. REMOVE CURB AND RMSTING STRUCTURE 2. REMOVE 6 PIECES OF PIPE 3. REMOVE ASPHALT OVER PIPE AND STRUCTURE 4. INSTALL WI:LLPOINIT SYSTEM S. INSTALL 6 NEW PIPES 6. INSTALL NEW STRUCTURE 7. INSTALL NEW BASE AND ASPHALT 8. INSTALL NEW CURB THE ABOVE MENTIONED TOTAL I5......».._.....»..-...»-.-......»_»»»S 1s,0S4.00. RESPECTFULLY SUBMT17TED, PRELEP RA,UGW"N w 0 CITY OF OKEECHOBEE MEMORANDUM TO: Mayor and City Council DATE: June 1S, 2000 SUBJECT: Status Report FROM: Bill L. Veach, City Administrator Below is a brief summary of past and upcoming events. ADMINISTRATION 1. City Hall park - The final site plans are complete and the survey is finished. Compilation of contractor specifications for concrete, electrical, and irrigation work has begun. 2. Industrial Park/Sheffield $nvironmental - We are coordinating discussions and exploring potential development of the City's industrial park in conjunction with the Sheffield Environmental Group's proposal. An interlocal agreement with the County, which would permit Sheffield to pursue IRB's is under review. Consultants are flagging potential wetland areas within the industrial park for examination by SFWMD and the Army Corps of Engineers. This review began on June 13+h. Additionally, the CDBG Economic Development Grant is being prepared. 3. OUA/City Workshop - The date for a workshop including the OUA board and the City Council, Administrator, and City Attorney is being worked out. Currently, dates in July and August are being considered. 4. Budget M Worksheets have been prepared and each department head is working on the 2000-01 budget. 1 ADMINISTRATION 5. Change in trash collection billing - We are exploring the CONTINUED possibility of putting City residents and business trash collection billing on the tax bills. 6. Eckerd Youth Foundation - Eckerd Youth Foundation will begin assisting the City by doing the following: • Keeping the City clean (ie..picking up trash, sweeping sidewalks) • Trimming and replacing plants in the downtown area as well as adding mulch when needed. 7. Police Station - The City Administrator is working with CAS to put together an RFP for the new Police Station. Options will include size, roof, and totally new construction. CITY CLERK 1. Maintenance Operator - The City is advertising for a Maintenance Operator in the Public Works Department. The position will close June 30+h at 4 p.m. 2. Code Enforcement Board - The City is now advertising for an alternate member for the Code Enforcement Board. If you know of anyone who would be interested, please have them contact the City Clerk's Office. 3. Dispatcher Position - The City is advertising for a Dispatcher in the Police Department. The position will close June 23rd at 4 p.m. LAND PLANNING The Land Planning Agency will meet June 27, 2000. The Board will AGENCY tentatively review the following: • A small scale rezoning for the Future Land Use Map for lots 7, 8, 9, 10, and 92, City of Okeechobee 2 U FIRE 1. Statewide Burn Ban - A statewide burning ban is in effect until further notice. There is to be no burning of any type except for bbq grills. 2. Controlled Burns - The controlled burns of the houses on the 200 block of SE 3rd Street has been postponed until the burn ban has been lifted. BOARD OF The Board of Adjustment will meet on June 27, 2000. The Board ADJUSTMENT will tentatively consider the following: A Special Exception for lots 1, 2, 3, and adjacent alley in Block 6, Royal Oaks Addition (across 441 from Wal-Mart). It is proposed the houses on the property be torn down and a car wash be built in their place. PUBLIC WORKS 1. Sidewalk/Street Cut on SW 2nd Avenue - City and OUA engineers are discussing various options regarding the cut. 2. Side mower - Purchase of a new side mower and tractor are in progress. Delivery is expected within the next few months. 3. Street Improvements - An RFP for paving and drainage is being prepared. It is anticipated the RFP will be completed by July and bids will be received until August let. 3 CODE 1. A Code Board Meeting will be held June 13th at 7 p.m. in the ENFORCEMENT Council Chambers. The Board will hear the following: • Red Rooster Restaurant - The owner of the Red Rooster Restaurant, Vera Sweet, and a representative of LP Sanitation will both be present to discuss the absence of garbage service at the Red Rooster. 2. Code enforcement is in the process of bringing everyone into compliance with the garbage pickup ordinance. Several letters have been mailed to businesses regarding the absence of garbage pickup at their establishment. In all, 91 business were questioned about their garbage service and 14 businesses reviewed were found to be operating without occupational licenses. POLICE 1. Traffic Light - According to DOT, traffic count at 4th Street and S. Parrott Avenue does not warrant installation of a new traffic signal at this location. However, we are looking at other justifications for traffic light installation that DOT may consider. 2. The Police Department is currently advertising for a dispatcher. The position will close June 23rd at 4 p.m. 3. The Police Department is requesting the DOT paint lines distinguishing the second turn lane at Wal-Mart. 4 OUTSTANDING ISSUES -CITY ATTORNEY 1. Updating and modernization of City Ordinances (Code Book and LDR's • Telecommunications • Departments and Offices • Planning and Development • Streets and Sidewalks • Subdivision Regulations a Water and Sewer Regulations) 2. Adelphia Cable TV Franchise Agreement Renewal. - A meeting between Adelphia and the City was held on May 1S+b. 3. Sprint Telephone Franchise Agreement Renewal - The City Attorney recommends obtaining the legal services of someone specializing in this complex area of lawn. A proposed agreement has been requested from Sprint. 4. Referendum for Tax Abatement for Economic Development For November ballot. 5. Waste Management regarding proposed changes in the Solid Waste Franchise Agreement - A meeting with the City Administrator, Attorney Cook and Jeff Sabin is planned. 6. Fire Hydrant Issue with the OUA - We are looking at potential dates for a combined workshop this summer. 7. Notice of intent to sue. (Pam Miller case) 8. Bettye Taylor case - City liability could be unlimited. Legal action regarding GRIT and Bankruptcy Court is being pursued. The City Attorney recommends obtaining the services of a bankruptcy attorney and is searching for one. 9. Marvin Brantley - An appeal brief has been prepared for the City on the Brantley appeal. The Appellate Panel should give us a decision in 30-60 days. 5 OUTSTANDING 1. PRM Interlocal Agreement - Consolidate policies between ISSUES the City, County and Sheriffs Office to achieve lower premiums. Current possibilities do not seem to favor the City. (John Spyker.) 2. Re -structure salary schedule (City Clerk, Department Heads, City Administrator) - Review of job descriptions with Department Heads is underway. 3. Updating required insurance programs, ie: safety, blood born pathogens, drug -free workplace (Chief Torrey 8s Safety Committee) - Implementation of drug -free workplace & safety policies is currently underway. Training of department heads and most of the City Stab has been completed. 4. Modernize Code Enforcement Policies and Procedures (Chief Torrey & Attorney Cook) 5. Enhanced 911 (City and County Staff) 6. Safety inspection/compliance of Public Works from the Florida Department of Labor Safety and Health Program (Public Works Director) Lone -Term: 1. Apply for CDBG Grant for continuation of Downtown Project. 2. Address traffic congestion problems due to hurricane evacuations. - The City has been asked to participate in the planning of the widening of SR TO in Okeechobee. 3. Adopt a 5 year program addressing growth, economic development, community development and organizational development. 4. Construction of bridge over Taylor Creek for access to City property - This is being addressed in conjunction with the Sheffield pEo s L