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I., ?. ,., ,, e, ' '{ .? ... ? ! .. t ? - • ?, NAJL., lit'. '?? , . r : , ' 1 ' . • . . I ,.. ? c i' . 155 i .r Y . ORDINANCE NO. 6494-00 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, RELATING TO THE EMPLOYEES PENSION PLAN, AMENDING SECTION 2.393, CODE OF ORDINANCES, TO AMEND OR DELETE DEFINITIONS; AMENDING SECTION 2.397, CODE OF ORDINANCES, TO AMEND BENEFITS UNDER THE PLAN; PROVIDING FOR A REFERENDUM ELECTION RELATING TO THE PENSION PLAN; PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1. Section 2.393, Code of Ordinances, is amended to read: Sec. 2.393. Definitions. ?.i Average Monthly Compensation shall mean Fisatien e€ -a art 6 r,ease ed-ted--Sew+s9. if -a ---eeasec#+e-1Faars-e€-6red+te , . Gempe-flsatieiii-be-base dUFiRq ., rqenthly beq*,nRiF;g with the date he eemmwieea pa ipatien in the Plan to hi6 date e #eminatien of emplo €-deterM' "A mean the 8 ' seiyed +on Y t#e-i peflsation, 4vided by 36 (eF, if leers, o-aggFegat fit) one-twelfth of the average Compensation of the 5 best years of the last 10 Years of Credited Service prior to retirement termination or death or the career averse as a full-time Partici ant whichever is greater. A year shall be 12 consecutive months. Compensation: (1) Compensation shall mean -Paw leave pay eR pal id-b-i- .,e,-,.,.19Fi 414(h) of the inteF sew es- ReveFme-Cedes --afld U e mpeflsatieR s 457(b its rese+ , fiFeAqht(3F6, as6ignmeRt pay, aGtiAg pay, and shift diffeFential pay but shall not in&We eiethiR I , lump sum payments ef-aeGwed AU Ordinance 5494-00 el -Re Annigib -fad ta "'r ? eMplOYBO r O ,#, OF ry its w1far- pensa# + the total compensation for services rendered to .)aid defeFfed 6e the Ci as a Participant reportable on the Participant's X111-2 form, including indemnity benefits received ursuant to the workers' compensation, law -plus all tax deferred tax sheltered or tax exem t items of income derived from elective em to ee a roll deductions or salary ,.reductions, but excluding lump sum leave pay paid ugon retirement, lump sum payments of accrued sick leave paid upon retirement, pay for off- duty employment, clothing-car, _or meal allowances, relocation expense_ payment benefits under this plan, any amount contributed to any-pension- employee Welfare life insurance or health insurance Ian or arrangement, or an other fringe benefits welfare benefits, or employer paid deferred compensation Compensation in excess, of the limitations set forth in Section 401(a)(17) 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 Jul 1 1993. "Eligible employee" is an individual who was a Participant before the first--plan yea beginning after December 31, 1995. 96FI I.17eth%MeR iVti-CC'Ra tfGipa d CF" Nominal Retirement Date shall mean (1) The earlier of: a. the date on which a Participant has reached the age of 55 years and completed 20 Years of Credited Service, b. the date on which a Participant has completed 30 Years of Credited Service regardless of age, c. the date on which_ a _Participant has reached the age of 65 years and completed 10 Years of Credited Service, or rd. the date on which a Participant has completed 20 Years of Credited Service, which service is of a character or type of employment that is described below as "hazardous duty" or that the Trustees have designated as hazardous duty. (2) For this purpose, a Participant's service shall be deemed "hazardous duty" if the Participant is a full-time sworn police officer certified in 2 Ordinance No, 6454-00 !M i11? f accordance . with Section 943.9 395, Florida Statutes, . or . a full-time firefighter certified in accordance with Section 633.35, Florida Statutes, and he is employed in police or fire positions as established by the Employer. W" Se ion 2. Section 2.397, Code of Ordinances, is amended to delete subsection (b), to •reletter the current subsections (c), (d) and (e) as subsections (b), (c) and (d), respectively, to add a new subsection (f) and to reletter the current subsection (f) as (g) as.follows: Sec. 2.397. Benefits under the plan. (b?- -,-Ea? (1) A Ft;6ipant?-ela#i }ay'eF upe Date. 4ham-"! be fully At ;;;Id Rhall bg vested if; his Arx;pjed ReAe . ted-toat the lime and e ' efit 6hall?e-detente in aGeOFdaRGS with the?previsiORS- et&nt-ef-su Fedueed to the s .0-Umdep paragraph (a) abeve. Pn4igipaAt it b&- Refit upon VM.I sush age +r+MetA: ff Cost-of-Living Adjustment. Commencing on April 1. 2000, the monthly amount payable to all Participants, beneficiaries and survivors who have received at least 6 monthly benefit payments as of each Agrii 1. shall receive an annual cost-of-livina adiustment on each Aoril 1 eaual to 1.5%. 0; Section 3. If any provision of this ordinance or any policy or order thereunder of the application of such provision to any person or circumstances shall be held invalid, the remainder of this ordinance and the application of such provision of this ordinance or of such policy or order to persons or circumstances other than those to which it is held invalid shall not be affected thereby. 3 Ordinance No. 8494-00 i` t LA •?f<Nir: M.i .?., 'f`° ` -`F a,?'+''t `st.fSr:t ''!re ..y?' a' y. - . Section 4.. A special election for the purpose of voting on this proposed ordinance as set forth shall be conducted on March 14, 2000, ?.a Section 5. The question to appear on the Referendum Ballot shall be as follows: Pension Plan Amendments Shall the City of Clearwater Employees Pension Fund be amended to: provide for an annual cost of living adjustment of 1.5% for past and future retirees; change the benefit calculation period to the highest five years of the last ten years of pay; allow employees age 65 with 10 years of service to retire with a normal benefit; revise the definition of compensation, all as provided in Ordinance No. 6494-00? YES For amendment to Employees Pension Fund . NO Against amendment to Employees Pension Fund Section 6. The funds contained in or authorized by the Pension Fund adopted by Ordinance No. 1832 as subsequently amended shall be applied in furtherance of the contributions and disbursements authorized pursuant to this ordinance, and the rights, duties and obligations provided in this ordinance shall apply to any fund subject to the provisions `of this ordinance; provided, however, that the preconditions set forth in ..:. Section 7 relating to this ordinance becoming effective had been complied with. Section 7. This ordinance shall take effect immediately upon adoption. The amendments to the Pension Plan provided for herein shall take effect only upon approval of a majority of the City electors voting at the referendum election on these issues and upon the filing of the Amended Charter with the Secretary of State. PASSED ON FIRST READING December 9, 1999 PASSED ON SECOND AND FINAL READING AND ADOPTED RE-ADOPTED Approved as to form: Pamela K. Akin, City Attorney January 20, 2000 February 3, 2000 Brian J. Au st, a or-Com issioner Attest: ?LLE Cylis E. Goudeau, City Clerk Ordinance 6494-00 v M 1 f 3 i I 1 .m Z 0