HomeMy WebLinkAboutO-89-15
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ORDINANCE NO.: 0-89-15
AN ORDINANCE OF THE CITY OF- Sli:BASTIAN, INDIAN RIVER
COUNTY, FLORIDA, pERTAINING TO POLICE PENSIONS;
AMENDING CHAPTER TWO OF THE CODE OF ORDINANCES BY
ADDING ARTICLE VI THEREBY CREATING A PENSION PLAN FOR
POLICE OFFICERS; CREATING A NEW SECTION PERTAINING TO
DEFINITIONS; CREATING A NEW SECTION PERTAINING TO
MEMBERSHIP IN THE PENSION PLAN FOR POLICE OFFICERS;
CREATING A NEW SECTION PERTAINING TO BENEFIT AMOUNTS
AND ELIGIBILITY; CREATING A NEW SECTION PERTAINING TO
OPTIONAL FORMS OF BENEFITS; CREATING A NEW SECTION
PERTAINING TO CONTRIBUTIONS TO THE PENSION PLAN FOR
POLICE OFFICERS; CREATING A NEW SECTION PERTAINING TO
ADMINISTRATION OF THE PENSION PLAN FOR POLICE OFFICERS;
CREATING A NEW SECTION PERTAINING TO FINANCES AND FUND
MANAGEMENT; CREATING A NEW SECTION PERTAINING TO THE
REPEAL OR TERMINATION OF THE PENSION PLAN; CREATING A
NEW SECTION PERTAINING TO MISCELLANEOUS MATTERS
AFFECTING THE PENSION PLAN; PROVIDING FOR REPEAL OF
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH;
PROVIDING FOR INCLUSION IN THE CODE OF ORDINANCES OF
THE CITY OF SEBASTIAN; PROVIDING A SEVERABILITY CLAUSE;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Sebastian and the coastal Florida
Police Benevolent Association have negotiated a Collective
Bargaining Agreement which Obligates the City to establish a
Municipal Police Officers' Retirement Program with benefits at
least equal to that set forth in Chapter 185, Florida Statutes
(1988 Supp.) commencing on October 1, 1989.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, that:
Section 1.
DEFINITIONS.
A new section 2-120 of the
Code of Ordinances of the City of Sebastian is hereby created to
read as follows: "The following words and phrases shall have the
following meanings, unless otherwise indicated:
CITY means City of Sebastian, Florida.
AGREEMENT means this written instrument setting forth the
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provisions of the Retirement System.
SYSTEM or RETIREMENT SYSTEM means the Ci ty of Sebastian
Police Officers' Retirement System as contained herein and all
amendments thereto.
FUND means the Trust Fund established herein as part of the
System.
BOARD means the Board of Trustees, which shall administer
and manage the System herein provided and serve as Trustees of
the Fund.
EMPLOYEE OR POLICE OFFICER means all actively employed
employees of the city,
including those in their initial
probationary employment periOd, classified as full-time sworn
pOlice officers, but excluding any part-time police officers,
auxiliary police officers or civilian members of the police and
any temporary or contract employees.
MEMBER means an actively employed employee who fulfills the
prescribed participation requirements and all terminated
employees who are receiving or are entitled to receive benefits
hereunder.
CREDITED SERVICE means the total number of years and
completed months of actual service with the city as a full-time
sworn police officer after September 30, 1989. Members shall not
receive credit for service for which member contributions have
been refunded. No credit will be given toward credited service
for service during which an employee was eligible for
participation in the system but elected not to become a member.
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EARNINGS mean base pay,
maintenance and overtime pay,
and vacation pay.
AVERAGE MONTHLY EARNINGS means one-twelfth (1/12th) of the
arithmetic average of annual earnings for the five (5) best years
of credited service during the ten (10) years preceding
termination of employment or retirement.
BENEFICIARY means the person or persons entitled to receive
benefits hereunder at the death of a member and filed with the
Board. If no such designation is in effect at the time of death
of the member, or if no person so designated is living at that
time, the beneficiary shall be the estate of the member.
IRS CODE means Title 26 of the United States Code as amended
including commissions, bonuses,
but excluding accrued sick leave
from time to time.
SPOUSE means the lawful wife or husband of a member at the
time of pre-retirement death or retirement.
ACTUARIAL EQUIVALENCE means a form of benefit differing in
time, period, or manner of payment from a specific benefit
provided hereunder but having the same value when computed using
UP 1984 Mortality Table and eight percent (8%) interest.
MEMBER'S CONTRIBUTIONS means deferred compensation
contributed by a member on and after October 1, 1989, as
prescribed in IRS Code section 414(h), along with interest at the
rate of five and one-half percent (5.5%) per year, compounded
annually.
EFFECTIVE DATE means October 1, 1989."
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Section 2. MEMBERSHIP A new section 2-121 of the Code
of Ordinances of the city of Sebastian is hereby created to read
as follows:
.. (a) Conditions and eligibility. All Police Officers of
the city of Sebastian who completed six (6) months of credited
service as of the effective date of the System may elect to
participate in the Sebastian Police Officers' Retirement System
as it existed on the effective date of this article and shall
thereafter continue participating under the provisions of this
article. All Police Officers who have not completed six (6)
months of credited service as of the effective date of the System
shall be eligible to become members on the first (1st) day of
October following the completion of six (6) months of credited
service. Participation in this System is optional.
(b) Application for membership. Each eligible employee
shall complete an application form covering the following items,
as well as such other items as may be prescribed by the Board:
(1) Acceptance of the terms and conditions of the
retirement system, and,
(2) Designation of a beneficiary or beneficiaries.
(c) Change in designation of beneficiary. A member may
from time to time change his or her designated beneficiary by
written notice to the Board upon forms provided by the Board.
Upon such change the rights of all previously designated
beneficiaries to receive any benefits under the System shall
cease."
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Section 3. BENEFIT AMOUNTS AND ELIGIBILITY A new
Section 2-122 of the Code of Ordinances of the city of Sebastian
hereby created to read as follows:
"ea) Retirement dates.
(1) The normal retirement date of a member shall be
the latter of the first (1st) day of the month:
a. in which the member attains the age of fifty-
five (55) years, and
b. has completed ten (10) years of credited
service; or
c. in which the member has
attained the age of fifty-two (52)
years, and
d. has completed twenty-five (25)
years of credited service.
A member may retire on his or her normal
retirement date or on the first (1st) day of any
month thereafter.
(2) Early retirement. A member may retire on his or
her early retirement date with the consent of the city, which
shall be the first (1st) day of the month:
a. in which the member attains the age of fifty
(50) years, and
b. has completed ten (10) years of credited
service.
Nothing herein contained shall be construed to give any
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employee the right to be retained in the employ of the city or to
interfere with the right of the city to terminate the employment
of any employee at any time, nor upon dismissal or upon his or
her voluntary termination of employment, to have any right or
interest in the Fund other than as is herein provided.
(4) Full vesting at retirement. A member shall become
one hundred percent (100%) vested in his or her accrued benefit
on any stated retirement date.
(b) Retirement benefit.
(1) Normal. A member retiring hereunder on or after
his or her normal retirement date shall receive a monthly benefit
which shall commence on his or her retirement date and be
continued thereafter during his or her lifetime, with the first
(1st) one hundred twenty (120) payments guaranteed payable in any
event. The monthly retirement benefit shall equal two percent
(2. 0%) of average monthly earnings for each year of credited
service.
(2) Early. The monthly amount of retirement income
payable to a police officer who retires early under the
provisions of this section shall be an amount computed as if the
officer had taken normal retirement as set forth hereinabove,
taking into account his credited service to his date of actual
retirement and his average monthly earnings as of such date,
which amount of retirement income shall be actuarially reduced to
take into account the police officer's younger age and the
earlier commencement of retirement income payments. In no event
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shall the early retirement reduction exceed three percent for
each year by which the members age at retirement preceded the
members normal retirement age. The retirement income payable in
the event of early retirement will be payable on the first day of
each month. The first payment will be made on the pOlice
officer's early retirement date and the last payment will be the
payment due next preceding the retired officer's death; except
that, in the event that the police officer dies before he has
received retirement benefits for a period of ten (10) years, the
same monthly benefit will be paid to the beneficiary designated
by the police officer with the balance of such ten (10) year
period, or, if no designated beneficiary is surviving, the same
monthly benefit for the balance of such ten (10) year period
shall be payable as provided in Florida statutes section 185.162
(1987) .
(3) The retirement income will be reduced for moneys
received under the disability provisions of this Chapter.
(c) Disability
(1) Eligibility. Any member who is found by the Board
upon examination to be mentally or physically incapacitated so as
to be wholly unable to properly perform his or her duties as a
Police Officer of the city of Sebastian, Florida, may be retired
for disability if the member meets the following service
requirement:
a. Service-incurred disability (as determined by
the Board) - No service requirement. Members are covered from
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date of employment.
b. Non-service-incurred disability (as
determined by the Board) Member is eligible following
completion of ten (10) years of credited service.
(2) Exclusions. A member will be considered totally
disabled if, in the opinion of the Board, he or she is wholly
prevented from rendering useful and efficient service as a Police
Officer; and a member will be considered permanently disabled if,
in the opinion of the Board, such member is likely to remain so
disabled continuously and permanently from a cause other than is
specified below:
a . excessive and habitual use by the member of
drugs, intoxicants or narcotics;
b. injury or disease sustained by a member while
willfully and illegally participating in fights, riots, civil
insurrections, or while committing a crime;
c. injury or disease sustained by the member
while serving in any armed forces of any nation;
d. injury or disease sustained by the member
after his or her employment has terminated.
e. injury or disease sustained by the police
officer while working for anyone other than the city and arising
out of such employment.
(3) Determination of disability. No member shall be
permitted to retire under the provisions of this section until
examined by a duly qualified physician or surgeon, to be selected
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by the Board for that purpose, and is found by the Board, upon
evidence presented, to be disabled in the degree and in the
manner specified in this section. Any member retiring under this
section may be examined periodically by a duly qualified
physician or surgeon or board of physicians and surgeons to be
selected by the Board for that purpose, to determine if such
disability has ceased to exist.
(4) Benefit amount. The benefit payable to a member
who retires with a total and permanent disability which is
determined to be non-service incurred shall be an amount equal to
two percent (2.0%) of his or her average monthly earnings
multiplied by his or her years of credited service. In no event,
however, shall the non-service-incurred disability benefit be
less than twenty-five percent (25%) of the member's average
monthly earnings if the member has completed ten (10) years of
credited service. The monthly benefit payable to a member who
retires with a service-incurred disability shall be an amount
determined as for non-service-incurred disability but not less
than forty-two percent (42%) of average monthly earnings.
(5) Benefit offsets. In the event that the disability
benefits described herein plus other monthly amounts to which the
disabled member is entitled, under Worker's Compensation, or any
other City-financed disability or salary continuation program
exceeds one hundred percent (100%) of the member's average
monthly earnings in effect on the date of disability, the
disability benefits provided herein shall be reduced so that the
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total of all such regular monthly amounts does not exceed one
hundred percent (100%) of such average monthly earnings.
(6) Payment of benefits. The monthly retirement
income to which a member is entitled in the event of his or her
disability retirement will be payable on the first (1st) day of
the first (1st) month after the Board determines such
enti tlement. However, the monthly retirement income shall be
payable as of the date of Board approval and any portion due for
a partial month shall be paid together with the first (1st)
payment. The last payment will be on the earlier of the
following:
the
member's
a.
date
the first (1st)
of death, or
day of the month preceding
the 120th monthly payment,
whichever is later; or
b. the first (1st) day of the month preceding
the member's recovery as determined by the Board.
(7) Recovery. If the Board finds that a member who is
receiving a disability retirement income is no longer disabled,
as provided herein, the Board shall direct that the disability
retirement income be discontinued. Recovery from disability as
used herein shall mean the ability of the member to render useful
and efficient service as a police officer. If the member
recovers from disability, his or her service beginning with the
first (1st) month for which he received a disability retirement
income payment and ending with the date of recovery shall not be
considered in determining the retirement benefit commencing on or
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after his or her normal retirement date.
(d) Pre-retirement death.
(l) Prior to eligibility for retirement. The
designated beneficiary of any member who dies prior to becoming
eligible for early, normal or delayed retirement hereunder shall
receive a refund of the member's contributions.
(2) After becoming eligible for retirement. The
designated beneficiary of any member who dies after becoming
eligible for retirement shall receive a monthly benefit equal to
the amount payable as though the deceased member had retired on
his or her date of death, with the resulting amount being payable
to said beneficiary on a monthly basis for then (10) years, or on
such other actuarial equivalent basis as approved by the Board.
(e) Vesting. If a member terminates his or her employment,
either voluntarily or by discharge, and is not eligible for any
retirement benefits under this system, he or she shall be
entitled to a refund of his contributions, without interest, less
any benefits paid to him. Should any police officer who has been
in service with the municipality for at least ten (10) years and
has contributed to the municipal police officer retirement trust
fund for at least ten (10) years elect to leave his accrued
contributions in the municipal pOlice officers retirement trust
fund, such police officer upon attaining age fifty (50) years or
more may retire at the actual equivalent of the amount of such
retirement income otherwise payable to him.
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section 4. OPTIONAL FORMS OF BENEFITS
A new section 2-123 of the Code of Ordinances of the
city of
Sebastian is hereby created to read as follows:
"Each member entitled to early or normal retirement benefit
shall have the right at any time prior to the date on which
benefit payments begin to elect to have his or her benefit
payable under any of the options set forth herein in lieu of the
benefits provided herein. Each member shall further have the
right to revoke any such elections and make a new election at any
time prior to the actual commencement of payments. The value of
payable optional benefits shall be actuarial equivalent to the
value of benefits otherwise payable, and the present value of
payments to the retiring member must be at least equal to fifty
percent (50%) of the total present value of payments to the
retiring member and his or her beneficiary. The member shall
make such an election by written request to the Board, with such
request being retained in the Board's files.
(a) Option 1: Joint and Last survivor Option. The member
may elect to receive a benefit during his or her lifetime and
have one hundred percent (100%), sixty-six and two-thirds
(66.67%), or fifty percent (50%) of such benefit continued after
his or her death to and during the lifetime of his or her spouse
or a relative other than his or her spouse. The election of
Option 1 shall be null and void if the designated beneficiary
dies before the member's benefit payments commence.
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(b) option 2: Life Annuity. The member may elect to
receive an increased benefit payable for life only, ceasing upon
death.
(c) Option 3: other. In lieu of the other optional forms
enumerated in this section, benefits may be paid in any form
approved by the Board so long as actuarial equivalence with he
benefits otherwise payable is maintained."
section 5. CONTRIBUTIONS. A new Section 2-124 of the
Code of Ordinances of the city of Sebastian is hereby created to
read as follows:
"(a) Member contributions.
(1) Amount. Effective October 1, 1989, each member
shall contribute to the Fund, by having the city deduct amounts
representing deferred compensation pursuant to IRS Code Section
414(h) at the rate of five percent (5%) of each installment of
the member's salary by way of a payroll deduction. Such
contributions shall be collected and deposited no less frequently
than monthly.
(b) State contributions. Any monies received by reason of
the laws of the state of Florida, for the purpose of funding and
paying for retirement benefits for the Police Officers of the
city shall be deposited to the Fund within five (5) days of
receipt.
(c) city contributions. So long as this System is in
effect, the city shall make quarterly contributions to the Fund
in an amount equal to the balance of the total cost for any year
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which shall be the total normal cost plus any additional amount
required to amortize the unfunded actuarial accrued liability
over a forty (40) year period.
(d) Other. Donations, gifts and contributions from sources
other than the city may be deposited to the Fund. Such deposits,
at the discretion of the Board, may be accounted for separately
and kept on a segregated bookkeeping basis.
Section 6. ADMINISTRATION. A new section 2-125 of the
Code of Ordinances of the City of Sebastian is hereby created to
read as follows:
"ea) The sole and exclusive administration and
responsibility for the proper operation of the retirement system
and for making effective the provisions of this article are
hereby vested in a Board of Trustees which shall be designated as
the plan administrator for the System. The Board shall consist
of five (5) persons as follows:
(1) two (2) legal residents of the city who shall be
appointed by the city Council to serve for a period of two (2)
years unless sooner replaced by the city council. An appointed
member may succeed himself or herself;
(2) two (2) employee members of the pOlice department
to be elected as hereinafter provided; and
(3) a fifth (5th) member, elected by the other four
(4) members of the Board, to be appointed by the city council as
a ministerial duty, for a two (2) year term. Such fifth (5th)
member shall be allowed to succeed himself or herself in office
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for additional two (2) year terms if re-elected.
(b) The regular term of office of each elected or appointed
trustee shall be two (2) years. Each employee trustee may
succeed himself or herself if re-elected as hereinafter provided.
(c) Employee trustees shall be elected in the following
manner: the Police Officer elected members shall be elected by a
majority vote of all actively employed members of their police
department at places designated by the Board. All qualified
members entitled to vote shall be notified in person or by
written notice ten (10) days in advance of said election. The
two candidates from the police department who receive the highest
number of votes for office shall be declared elected and shall
take office immediately upon commencement of the term of office
for which elected or as soon thereafter as they shall qualify.
An election shall be held not more than thirty (30) days and not
less than ten (10) days prior to the commencement of the term for
which a trustee is to be elected. The Board shall establish and
administer the nominating and election procedure for each
election.
(d) The Board shall elect from among its members a
chairman, vice-chairman and secretary within ten (10) days after
a new trustee is elected or appointed.
(e) If a vacancy occurs in the office of trustee, the
vacancy shall be filled for the unexpired term in the same manner
as the office was previously filled.
(f) The trustees shall serve without compensation, but they
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may be reimbursed from the Fund for all necessary expenses which
they may actually expend through service on the Board.
(g) Each trustee shall be entitled to one (1) vote on the
Board. A quorum shall consist of at least three (3) members and
three (3) affirmative votes shall be necessary for a decision by
the trustees at any meeting of the Board. The Chairman shall
have the right to one (1) vote only. Trustees may not cast proxy
votes.
(h) SUbject to the limitations of this article, the Board
shall, from time to time, establish uniform rules and regulations
for the administration of the Fund created by this article and
for transactions of its business, including provisions for
expulsion due to non-attendance of its elected members which
could result in a vacancy.
(i) The Board shall engage such actuarial, accounting,
legal and other services as shall be required to transact the
business of the Retirement System. The compensation of all
persons engaged by the Board and all other expenses of the Board
necessary for the operation of the Retirement System shall be
paid by the Fund at such rates and in such amounts as the Board
shall agree. Funds may be distributed by a disbursing agent as
determined by the Board, but only upon written authorization by
the Board. The city Attorney shall give advice to the Board in
all matters pertaining to their duties in the administration of
the System whenever requested; and he shall represent and defend
the Board as its attorney in all suits and actions at law or in
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equity that may be brought against the Board and bring all suits
and actions on behalf of the Board that may be required or
determined upon by the Board. However, if the Board so elects,
it may employ independent legal counsel at the expense of the
System for the purposes contained herein, together wi th such
other professional, technical or other advisors as the Board
deems necessary.
(j) Any elected or appointed trustee who neglects the
duties of his or her office, as determined by the Board, may be
removed by four (4) concurring votes among the Board.
(k) For all acts and determinations of the Board, the
secretary shall prepare minutes.
(l) The duties and responsibilities of the Board shall
include, but not necessarily be limited to the following:
(1) construe the provisions of the System and
determine all questions arising hereunder
(2) determine all questions relating to eligibility
for benefits hereunder.
(3) determine and certify the amount of all retirement
allowances or other benefits hereunder.
(4) establish uniform rules and procedures to be
followed for administrative purposes, benefit applications and
all matters required to administer the System.
(5) distribute to the members annually pertinent
financial information concerning the System.
(6) receive and process all applications for
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participation and benefits.
(7) 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.
(8) have actuarial studies and actuarial valuations
performed and make recommendations regarding any and all changes
in the provisions of the System.
(9) make the final determination of a member's
eligibility for the disability benefits provided herein.
(10) perform such other duties as are specified in this
article.
(m) The Board shall furnish to the city auditor such
available investment and actuarial information regarding the
System as shall be requested.
At its option, the Board may
select the city's independent auditor for purposes of preparing
an independent audit of the System provided said auditor meets
the requirements of Chapter 185, Florida Statutes."
section 7.
FINANCES AND FUND MANAGEMENT. A new section
2-126 of the Code of ordinances of the city of Sebastian is
hereby created to read as follows:
"(a) All of the contributions and assets whatsoever
attributable to the System shall be deposited to the Fund.
(b) The actual custody and supervision of the Fund (and
assets thereof) shall be vested in the Board.
Payments of
benefits and disbursements from the Fund may be made by the
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disbursing agent but only upon written authorization from the
Board.
(c) The Board shall be required to appoint a national or
state bank with trust powers for the purpose of serving as
custodian of the Fund, and all assets of the Fund shall be
promptly and continually deposited therewith. In order to
fulfill its investment responsibilities as set forth herein, the
Board shall be required to retain the services of the custodian
bank, an investment advisor registered under Investment Advisory
Act of 1940, an insurance company, or a combination of these, for
purposes of investment decisions and management. Such investment
manager shall have full discretion in the investment of assets
SUbject to limitation of this agreement and any guidelines as
prescribed by the Board.
(d) 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:
(1) receipts and disbursements of the Fund;
(2) benefit payments;
(3) all cash investments realized and unrealized gains
or losses whatsoever;
(4) all interest, dividends and capital gains (or
losses) whatsoever attributable to contributions and deposits to
the Fund;
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(5) such other entries as may be properly required so
as to reflect a clear and complete financial report of the Fund.
(e) The Board shall have the following investment powers
and authority:
(1) The Board shall be vested with full legal title to
the Fund, subject, however, and in any event to the authority and
power of the city council to amend or terminate this Fund,
provided that no amendment or 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. All
contributions from time to time paid into the Fund, and the
income thereof, without distinction between principal and income,
shall be held and administered by the Board or its agent in the
Fund, and the Board shall not be required to segregate or invest
separately any portion of the Fund.
(2) The Fund may be invested and reinvested in such
securities (except those issued by foreign corporations) or
property, real or personal, wherever situated and whatever kind,
as shall be approved by the Board, including but not limited to
stocks, common or preferred, and bonds, and other evidences of
indebtedness or ownership. The Board is authorized to transfer
from time to time to a common, collective, or pooled trust fund
maintained by any bank, all or such part of the Fund hereunder as
the Board may deem advisable, and such part or all the Fund so
transferred shall be subject to all of the terms and provisions
of such common, collective, or pooled trust fund which
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contemplates the commingling for investment purposes of such
trust assets wi th assets of other trusts. The Board is also
authorized to withdraw from such common, collective or pooled
trust fund from time to time all or such part of the Fund as the
Board may deem advisable.
(3) 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.
(4) No person or entity shall be liable for the
making, retention or sale of any investment or reinvestment made
as herein provided nor for any loss or diminishment of the Fund,
except that due to his, her or its own gross negligence, willful
misconduct or lack of good faith.
(5) 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.
(6) The Board is empowered, but is not required, to
vote upon any stocks, bonds, or securities of any corporation,
association, or trust and to give general or specific proxies of
power of attorney with or wi thout power of substi tutions ; to
participate in mergers, reorganizations, recapitalizations,
consolidations, and similar transactions with respect to such
securities; to deposit such stock, or other securities in any
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voting trust or any protective or like committee with the
trustees or with depositories designated thereby; to amortize or
fail to amortize any part or all of the premium or discount
resulting from the acquisition or disposition of assets; and
generally to exercise any of the power of an owner with respect
to stocks, bonds, or other investments comprising the Fund which
it may deem to be in the best interest of the Fund to exercise.
(7) The Board shall not be required to make any
inventory or appraisal or report of any court, nor to secure any
order of court for the exercise of any power herein contained.
(8) Where any action which the Board is required to
take or any duty or functions which it is required to perform,
either under the terms herein or under the general law applicable
to it as trustee under this article, can reasonably be taken or
performed only after receipt by it from a member, the city or any
other entity, of specific information, certification direction or
instructions, the Board shall be free of liability in failing to
take such action or perform such duty or function until such
information, certification, direction or instruction has been
received by it.
(9) Any overpayment or underpayment from the Fund to a
member or beneficiary caused by errors of computation shall be
adjusted with interest at a rate per annum approved by the Board.
Overpayment shall be charged against payments next succeeding the
correction. Underpayment shall be made up from the Fund.
(10) The Board shall sustain no liability whatsoever
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for the sufficiency of the Fund to meet the payments and benefits
herein provided for.
(11) In any application to or proceeding or action in
the courts, only the city and the Board shall be necessary
parties, and no member or other person having an interest in the
Fund shall be entitled to any notice of service of process. Any
judgment entered in such a proceeding or action shall be
conclusive upon all persons.
(f) Any of the foregoing powers and functions reposed in
the Board may be performed or carried out by the Board through
duly authorized agents, provided that the Board at all times
maintains continuous supervision over the acts of any such agent;
provided further, that legal title to said Fund shall always
remain in the Board."
Section 8.
REPEAL OR TERMINATION OF SYSTEM
A new
Section 2-127 of the Code of Ordinances of the city of Sebastian
is hereby created to read as follows:
lI(a) This article establishing the System and the Fund, and
subsequent articles pertaining to the System and the Fund, may be
modified, terminated or amended in whole or in part; provided
that if this or any subsequent article shall be amended or
repealed in its application to any person benefitting 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.
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(b) If this article shall be repealed, or if contributions
to the System are discontinued, the Board shall continue to
administer the System in accordance with the provisions of this
article, for the sole benefit of the then members, any
beneficiaries then receiving retirement allowances, and any
future person entitled to receive benefits under one of the
options provided for in this article who are designated by any of
said members. In the event of repeal, or if contributions to the
System are discontinued, there shall be full vesting (100%) of
benefits accrued to date of repeal and the assets of the System
shall be allocated to provide benefits on a proportionate basis
to the persons so entitled to benefits in accordance with the
provisions thereof.
(c) The following shall be the order of priority for
purposes of allocating the assets of the System upon repeal of
this article or if contributions to the system are discontinued:
(1) Members already retired under the early, normal or
delayed retirement or disability provisions of the System and
those eligible for such retirement or disability provisions of
the System and those eligible for such retirement, active or
deceased, but not actually retired, and their beneficiaries, in
proportion to and to the extent of the then actuarial determined
present value of the benefits payable less amounts received. If
any funds remain, then
(2) members who are fully vested under the provisions
of this System, and their beneficiaries, in the same manner as in
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Paragraph (c) (1) above. If any funds remain, then
(3) other members with member's contributions in the
same manner as in Paragraph (c) (1) above. If any funds remain,
then
(4) to all other members and their beneficiaries in
the same manner as Paragraph
service and average monthly
termination of the System.
The allocation of the Fund provided for in this
subsection may, as decided by the Board, be carried out through
the purchase of insurance company contracts to provide the
benefits determined in accordance with this subsection. The Fund
may be distributed in one sum to the persons entitled to said
benefits or the distribution may be carried out in such other
manner as the Board may direct. The Fund may be continued in
existence for purposes of subsequent distributions.
(d) After all the vested accrued benefits provided
hereunder have been paid and after all other liabilities have
been satisfied, including a return to the state of Florida of
Funds required under Chapter 185, Florida statutes, then and only
then shall any remaining funds revert to the general Fund of the
city."
section 9. MISCELLANEOUS A new Section 2-128 of the
Code of Ordinances of the city of Sebastian is hereby created to
read as follows:
(c) (1) but based upon credi ted
earnings as of the date of
"(a)
Medical Board.
The Board may at its discretion
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designate a medical Board to be composed of up to three (3)
physicians, but limited to either M.D.'s and/or D.C.'S, who shall
arrange for and pass upon all medical examinations required under
the provisions of this article, shall investigate all essential
statements or certifications made by or on behalf of a member in
connection with an application for disability or retirement and
shall report in writing to the Board its conclusions and
recommendations upon all matters referred to it. The payment for
such services shall be determined by the Board.
(b) DiSCharged members. Members entitled to a pension
shall not forfeit the same upon dismissal by the city, but shall
be retired as herein described.
(c) Non-assignability. No benefit provided for herein
shall be assignable or subject to garnishment for debt or for
other legal process.
(d) Pension validity. The Board shall have the power to
examine the facts upon which any pension shall have been granted
under any prior or existing law, or which may hereafter be
granted or obtained, to determine whether it was erroneously,
fraudulently or illegally granted or obtained. The Board is
empowered to purge the pension rolls of any person heretofore
granted a pension prior or existing law or heretofore granted
under this article if the same is found to be erroneous,
fraudulent or illegal for any reason; and to reclassify any
pensioner who has heretofore under any prior or existing law or
who shall hereafter under this article be erroneously, improperly
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or illegally classified.
(e) Incompetents. If any member or beneficiary is a minor
or is, in the judgment of the Board, otherwise incapable of
personally receiving and giving a valid receipt for any payment
due him or her under the System, the Board may, unless and until
claims shall have been made by a duly appointed guardian or
committee or such person, make such payment or any part thereof
to such person's spouse, children or other person deemed by the
Board to have incurred expenses or assumed responsibility for the
expenses of such person. Any payment so made shall be a complete
discharge of any liability under the System for such payment."
(f) It is expressly intended that this System be consistent
with the Chapter 185 plan described in sections 185.01 through
185.341 of Florida Statutes (1987), and to the extent that any
provision of sections 2-120 through 2-128 of this Ordinance is
inconsistent with Chapter 185 of Florida statutes (1987), the
provisions of Chapter 185 of Florida statutes (1987) shall
control.
section 10. CONFLICT. All ordinances or parts of
ordinances in conflict herewith are hereby repealed.
section 11. CODIFICATION. It is the intention of the
ci ty Council of the City of Sebastian, Indian River County,
Florida, and it is hereby provided that the provisions of this
Ordinance shall become and be made a part of the Code of
Ordinances of the city of Sebastian, Florida; that the sections
of this Ordinance may be renumbered or relettered to accomplish
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such intention; and the word "Ordinance" may be change to
"section", "Article" or other appropriate designations.
Section 12.
SEVERABILITY. In the event a court of
competent jurisdiction shall hold or determine that any part of
this Ordinance is invalid or unconstitutional, the remainder of
the Ordinance shall not be affected and it shall be presumed that
the city Council of the city of Sebastian did not intend to enact
such invalid or unconstitutional provision. It shall further be
assumed that the city Council would have enacted the remainder of
this Ordinance without said invalid and unconstitutional
provision, thereby causing said remainder to remain in full force
and effect.
Section 13.
EFFECTIVE DATE.
This Ordinance shall take
effect on October 1, 1989.
The foregoing ordinance was moved for adoption by Councilman
____fl~
71/~~
The
motion
was
seconded
by
councilman
and,
upon
being put
to
a
vote, the vote was as follows:
Mayor Richard B. Votapka
Vice-Mayor Robert McCarthy
Councilman Robert L. McCollum
Councilman Frank Oberbeck
Councilman Lloyd Rondeau
The Mayor thereupon declared this Ordinance duly passed and
adopted this t* day of Je~kA , 1989.
I
CITY OF SEBASTIAN, FLORIDA
By:/!2LJt, ~
Richard B. Votapka, Mayor
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-ATTEST:
I HEREBY CERTIFY that notice of public hearing on this
Ordinance was published in the Vero Beach Press Journal as
required by state statute, that one public heal1i;f held on
this Ordinance at 7:00 p.m. on the ,1J~ day of , 1989,
and that following said public hearing this Ordina ce was passed
by the city council.
~as
Charles Ian
to Form and Content:
----------
Nash, city Attorney
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