HomeMy WebLinkAboutO-21-02 Police Pension AmendmentCITY OF SEBASTIAN, FLORIDA
ORDINANCE NO. 0-21-02
AN ORDINANCE OF THE CITY OF SEBASTIAN, FLORIDA, AMENDING
CHAPTER 58, ARTICLE III, POLICE OFFICERS' RETIREMENT PLAN,
OF THE CODE OF ORDINANCES; AMENDING SECTION 58-51,
BENEFIT AMOUNTS AND ELIGIBILITY; SECTION 58-52,
PRE -RETIREMENT DEATH; SECTION 58-55, OPTIONAL FORMS OF
BENEFITS; SECTION 58-61, MINIMUM DISTRIBUTION OF BENEFITS;
SECTION 58-62, MISCELLANEOUS PROVISIONS; PROVIDING FOR
SEVERABILITY; PROVIDING FOR CODIFICATION; PROVIDING FOR
THE REPEAL OF ALL ORDINANCES IN CONFLICT HEREWITH, TO
THE EXTENT OF SUCH CONFLICT; PROVIDING FOR SCRIVENERS
ERRORS; AND PROVIDING FOR AN EFFECTIVE DATE.
NOW, THEREFORE BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF SEBASTIAN, FLORIDA:
SECTION 1. That Chapter 58, Article III, Police Officers' Retirement Plan, Section
58-51, Benefit amounts and eligibility, of the Code of Ordinances of the City of
Sebastian, is hereby amended to read as follows:
Sec. 58-51.- Benefit amounts and eligibility.
(e) Required distribution date. The member's benefit under this section
must begin to be distributed to the member no later than April 1 of
the calendar year following the later of the calendar year in which
the member attains age 70 112 72, orovided the member had not
attained aae 70'/: by December 31y2019; or the calendar year in
which the member terminates employment with the city.
SECTION 2. That Chapter 58, Article III, Police Officers' Retirement Plan, Section
58-52, Pre -retirement death, of the Code of Ordinances of the City of Sebastian, is
hereby amended to read as follows:
Sec. 58-52. - Pre -retirement death.
(b) Deceased members vested or eligible for retirement with spouse as
beneficiary. This subsection (b) applies only when the member's
spouse is the sole designated beneficiary. The spouse beneficiary
of any member who dies and who, at the date of his death, was
vested or eligible for early or normal retirement shall be entitled to a
benefit as follows:
Page 1 of 4
(5) Notwithstanding anything contained in this section to the
contrary, in any event, distributions to the spouse beneficiary
will begin by December 31 of the calendar year immediately
following the calendar year in which the member died, or by
a date selected pursuant to the above provisions in this
section that must be on or before December 31 of the
calendar year in which the member would have attained 701A
ace 72.
SECTION 3. That Chapter 58, Article III, Police Officers' Retirement Plan, Section
58-55, Optional forms of benefits, of the Code of Ordinances of the City of Sebastian, is
hereby amended to read as follows:
Sec. 58-55. - Optional forms of benefits.
(a) Retirement income payments shall be made under the option
elected in accordance with this section and shall be subject to the
following limitations:
(5) The member's benefit under this section must begin to be
distributed to the member no later than April 1 of the
calendar year following the later of the calendar year in
which the member attains age 7"1 72 provided the member
had not attained age 70Y, by December 31. 2019, or the
calendar year in which the member terminates employment
with the city.
SECTION 4. That Chapter 58, Article III, Police Officers' Retirement Plan, Section
58-61, Minimum distribution of benefits, of the Code of Ordinances of the City of
Sebastian, is hereby amended to read as follows:
Sec. 58-61. - Minimum distribution of benefits.
(b) Time and manner of distribution.
(1) Required beginning date. The member's entire interest will
be distributed, or begin to be distributed, to the member no
later than the member's required beginning date which shall
not be later than April 1 of the calendar year following the
later of the calendar year in which the member attains age
791A 72, provided the member had not attained ace 70Y: by
December 31. 2019. or the calendar year in which the
member terminates employment with the city.
Page 2 of 4
(2) Death of member before distributions begin. If the member
dies before distributions begin, the members entire interest
will be distributed, or begin to be distributed no later than as
follows:
a. If the members surviving spouse is the member's
sole designated beneficiary, then distributions to the
surviving spouse will begin by December 31 of the
calendar year immediately following the calendar year
in which the member died, or by a date on or before
December 31 of the calendar year in which the
member would have attained age 7" 72. provided
the member had not turned 70Y by Decemher 31_
2019, if later, as the surviving spouse elects.
SECTION 5. That Chapter 58, Article III, Police Officers' Retirement Plan, Section
58-62, Miscellaneous provisions, of the Code of Ordinances of the City of Sebastian, is
hereby amended to read as follows:
Sec. 58-62. - Miscellaneous provisions.
(c) Qualification of system. It is intended that the system will constitute
a qualified public pension plan under the applicable provisions of
the code for a qualified plan under code section 401(a) and a
governmental plan under code section 414(d), 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.
(1) In recnonitinn of the changing requirements of system
qualification. the Board shall adont an administrative oolicv
setting forth the required provisions for tax qualification.
Such a policy shall be amended by the Board as required to
maintain continuing compliance with the Internal Revenue
ode.
SECTION 6: Severability. If any portion, part or section of this ordinance is declared
invalid, the valid remainder hereof shall remain in full force and effect.
Page 3 of 4
SECTION 7: Codification. This Ordinance shall be codified in the Code of Ordinances of
the City of Sebastian.
SECTION 8: Repeal of Ordinances in Conflict. All ordinances or parts of ordinances in
conflict herewith are hereby repealed to the extent of such conflict.
SECTION 9: Scrivener's Errors. Sections of this Ordinance may be renumbered or
re -lettered and corrections of typographical errors which do not affect the intent may be
authorized by the City Manager, or the City Manager's designee, without need of public
hearing, by filing a corrected or re -codified copy of same with the City Clerk.
SECTION 10: Effective Date. This ordinance shall become effective immediately upon
its adoption by the City Council.
The foregoing Ordinance was moved for adoption by Councilmember MOPartlan
The motion was seconded by Councilmember ,zones and, upon being put
to a vote, the vote was as follows:
Mayor Ed Dodd aye
Vice -mayor Jim Hill aye
Councilmember Bob McPartlan aye
Councilmember Fred Jones aye
Councilmember Christopher Nunn aye
The Mayor thereupon declared this Ordinance duly passed and adopted on this 20 day
of February, 2021.
CITY OF SEBAST_IAN�, FLORIDA
Ed Dodd, Mayor
ATTEST:
jianette Williams, City Clerk
Approved as toCity rm and legality for
Reliance b a sf only:
Man on, ., ityAtto ey
Page 4 of 4