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Ord 33-10ORDIN,~NCE N(1. 33-10 AN ORDINANCE OI~ T'HE CITY COMMISSION OF THE CITY OF DI~,LRAY BRACH, FLORIDA, AMENDING CHAPTER 35, "EMPLOYEE POLICIES AND BENI{,FITS", SEC"PION, "35.089, "DL-'FINITIONS", "I'O PROVIDF_ REVISED DEFINI"TIONS OF "FINAI, MONTHLY COMPF,NSA'1'ION" AND "NOIt1~IAI, RETIREMEN"T DAT"F;"; AMENDING SECTION 35.095, "CONTRIBUTIONS OF PARTICIPANT AND CI"I1"', SUBSECTION (A), "PARTICIPANT'S CONTRIBUTION ACCOUNT", '1'O PROVIDE FOR A CHANGE. IN "THE CONTRIBUTION AMOUNT; AMENDING SF,CTION 35.097, "RITIREMEN"I INCOME; BASIS, AMOUNT', AND PAYMENT", SUBSI~CI'ION (A), "NOI~IAI, RE'1'IKEMEN"I' INCOME", "I'O CHANGE THE NOItI~IAL FO1~1 OF RETIREMENT' TO LIFE ANNUI"11'; AMENDING SUBSECTION (C), "DISABILI"I'Y RF."I'IREMEN"I' AND RE'I'IRI?MENI' INCOME", PAIZr1GRAPH (5), "DISABILIT"Y RE"I'IREMENT' INCOME", SUBPARAGI~IPH(A), "MON'T'HLY INCOME PAYABLE", SUB-SUBPARAGRAPH (1), "SI?RVICE-CONNECT'F,D DISABILITY", TO MODIFY DISABILITY AVERAGE MONTHLY EARNINGS; rMENDING SUBSICTION (D), "BENEFITS O'T'HER "THAN ON RETIREMENT", PARAGRAPH (2), `BENEFIT PAYABLE IN THE EVENT' OI' PAR"TICIPATING 1?MPLOYEI?'S lll~.A"I'H ON OR BEFORE "I'HE NORMAL RF,'1'IREMEN"I' DATE", SUBPARr1GRt1PH (a), "DEA"IH BENEI~I"I'-- SERVICI?-CONNECTED DF~ATH", TO MODIFY THE MONT'HI_Y INCOME; PROVIDING A SAVING CLAUSE, A GENERAL REPi~1I,ER CL.~IUSE, AND AN I?FFECTIVI? DA'I'S. 131. I'1' ORDAINED BY 'I'H1? CITY COMMISSION OF THE CITY OF DEI,Rr~Y BF,ACH, FLORIDA, ~~S I~'OLLOWS: Section 1. That Chapter 35, "Employee Policies and Benefits", Section 35.089, "Definitions", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: Fijrul ir~ontb/y iomf~en~utiorr. I~or participants who retire or terminate employment with five (5) or more years of credited service prior to October G 2010, final monthly compensation means the total basic compensation received by a participant during the highest-paid twenty-four (24) consecutive months of the one hundred twenty (120) months immediately preceding the termination of employment, divided by twenty- four (24). - . For participants ~vho arc employed on October 5, 2010, and who retire or terminate employment with five ~5) or more years of credited service on or after October G 2010, final monthly compensation means the total basic compensation received by a participant during the highest-paid thirt)~-six ~6) consecutive months of the one hundred twenty (1 ~0) months immediately preceding the termination of employment, divided by thirty-six (36). Notwithstanding the receding sentence in no event shall the average final compensation of any participant who is employed on October 5 2010 be less than the total basic compensation received by the participant during the highest-paid twenty-four (?4) consecutive months of the one hundred twenty~120) months immediately nr~ ding October 5, X010 divided by twenty-four (24 For participants hired on or after October 6 2010, final monthly compensation means the highest paid sixty~60) consecutive months of the one hundred t<vent~(1~0) months immediately preceding the termination of employment divided by sixty (60). In computing final monthly compensation for a participant who has returned to active City employment following an approved leave of absence disability retirement or termination of employment with a vested benefit the period of leave of absence disability retirement, or following termination of employment shall be ignored in determining the highest paid twen~t -four (24 thirty-six 36) or sixty~60) consecutive months, as 1pplicable, of the one hundred twen~ (120) months immediately preceding the subsequent termination of employment Notwithstanding any other provision of this paragraph the definition of final monthb compensation contained in the first sentence of this paragraph shall continue to apply to participants who are employed in a position included in a bargaining unit on October 5 2010 until such time as changes to the definition arc implemented through the collective bargaining process. Norrnu! retirement date. For participants who retire or terminate employment with five (5) or more years of credited service prior to October 6 X010, and for participants who are employed on October 5, 2010 and within ten ~1 O~~ears of attaining ae~ e~ixt~ (60) or thirt)~ (30) years of credited service as of that date, normal retirement date means the first day of the month coincident with or next following the date a participant attains the age of sixty (60) and completes ten (10) years of credited service, or the date on which a participant attains thirty (30) years of credited service, regardless of age, whichever occurs first. Effective October 6, 2010, for participants who are employed on October 5 2010 and not within ten (10Lyears of attaining age sixty (60L thirty (30) years of credited service as of that date normal retirement date means the first day of the month coincident with or next following; the date a participant attains the ag_e of sixty-two (62) and completes ten (10) years of credited service or the date on which a participant attains thirty~30Lyears of credited service, regardless of ~e whichever occurs first The normal retirement date for participants hired on or after October 6 X010 shall be the date a participant attains the age of sixty-five (65) and completes ten years of credited service. A participant may continue in the employ of the City and continue to participate in the plan beyond the normal retirement date. Notwithstanding any other provision of this paragraph the definition of normal retirement date contained in the first sentence of this paragraph shall continue to apply to participants who are employed in a position included in a bargainine unit on October 5 2010 until such time as changes to the definition are implemented through the collective bargaining process. Section 2. "That Chapter 35, "Employee Policies and Benefits", Section 35.095, "Contributions of Participant and City, Subsection (A), "Participant's Contribution Account", of the Code of Ordinances of the City of llelray Beach is hereby amended to read as follows: (a) Par7iczparrt'~• Corrtri~ution /1ccount. (1) ('1 av-D%rred Contri~ution~-.~ For the purpose of this Section "Participant's Contribution account" will consist of tax deferred participant contributions. Effective the first pay period beginning on or after October 1, 1)89, employee contributions will be picked up by the City 2 ORD. NO. 33-10 and shall be treated as employer contributions for tax purposes. However, for all purposes of determining benefits under the plan, they will be considered participant contributions. (2) [Particzf~unt~' ContriGution~.] Each participant will contribute toward the cost of the plan an amount equal to three (3) percent of the first four thousand eight hundred dollars ($4,800.00) of his basic annual compensation, and six (6) percent of basic annual compensation in excess of four thousand eight hundred dollars ($4,800.00) until the beginning of the first pay period after September 25, 1984. Beginning with the first pay period after September 25, 1984, each participant will contribute toward the cost of the plan an amount equal to six (G) percent of basic compensation. Effective as of the first pay period beginning on or after October 1, 1989, participant contributions will be equal to four and one-half (4 1 /2) percent of basic compensation on atax-deferred basis. Beginning with the first pay period after September 1, 1999, participants shall not be required to contribute to the plan, except those participants described in paragraph (4) of this Section. Beginning with the first pay period after September 30, 2003, participants who are not included in the bargaining unit specified in paragraph (4) shall contribute two (2) percent of basic compensation. Beginning with the first pay period after November 1, 2004, participants who are not included in the bargaining unit specified in Paragraph (4) shall contribute two and one-half percent (2.5%) of basic compensation. Beginning with the first ~av period after October G, 2010_D~icipants who are not included in a bard>ar fining unit 5ha11 contribute three and five one-hundreths percent (3.05%) of basic compensation. ~ (3) [1 otul 13en fits PayaGle.] Anything in the plan to the contrary notwithstanding, the total benefits payable under the plan to, or with respect to, a participant shall not be less than the benefits that can be provided by the participant's contributions, and further provided, if a participant, who is terminated, elects to withdraw participant contributions, the participant will be entitled to the return of participant contributions with interest, in lieu of all other benefits payable under the plan. Effective September 1, 1999, if a participant has ten (10) or more years of credited service under the plan a noncompounded simple interest rate of five (5) percent per year shall be applied to the principal balance of the participant's contribution as accrued on December 31 of each year. Effective September 1, 1999, if a participant has less than ten (10) years of credited service under the: plan a noncompounded simple interest rate of three (3) percent shall be applied to the principal balance of the participant's contribution as accrued on December 31 of each year. Participant contributions cannot be withdrawn while a participant remains in the employ of the City or after the payment of benefits under the plan has commenced. (4) flj~plicability to Bar~uining Unit F.mployeee~. Participants who are members of the bargaining unit represented by the National Conference of Firemen and Oilers shall not be required to contribute to the plan unless a written actuarial valuation indicates that contributions are required to properly fund the plan in an actuarially sound manner. If an actuary selected by the Retirement Committee determines that additional contributions are required to properly fund the plan, the City and bargaining unit members shall equally share such contributions on a ~ percentage of payroll basis; provide that no member shall be required to contribute more than four and one-half (4 1 /2) percent of basic compensation unless the City and union agree to a 3 ORD. NO. 33-10 greater participant contribution. Notwithstanding the foregoing, effective November 13, 2004, employees who are members of the bargaining unit represented by the National Conference of Firemen and Oilers shall contribute two and one-half (2 1 /2 percent of their gross pay to fund the City's defined benefit pension plan. If an actuary selected by the Pension Board determines that additional monies are required to properly fund the plan, employees shall contribute at the same rate as all other non-represented employees who are members of the defined benefit pension plan. However, in no event shall employees contribute less than two and one-half (2 1 /2 percent nor more than four and one-half (4 1 /2) percent of their gross pay, unless the union and the City bargain for a lesser or greater percentage. Notwithstanding the foregoing, employees who are included in a bargaining unit shall contribute three and five one-hundreths percent 3 05 %) of basic compensation upon implementation of this change through the collective bargaining~rocess. Section 3. 't'hat Chapter 35, "1!;mployee Policies and Benefits", Section 35.097, "Retirement Income; Basis, Amount, and Payment", Subsection (A), "Normal Retirement Income", of the Code of Ordinances of the Ciry of Delray Beach is hereby amended to read as follows: (~~) Normul Retirement Income. (1) flmount of Normal Retirement Income. "1'he amount of retirement income payable to a participant who retires on or after his normal retirement date shall be an amount equal to two and one-half (2.5) percent of final monthly compensation multiplied by credited service, expressed in years and tenths of a year, up to a maximum of thirty (30) years.- , .. , ,multiplied by the participant's vested percentage as set forth in Section 35.091. (2) Payment o/ Normul Retirement Income. "I'he monthly retirement income payable in the event of normal retirement will be payable on the first day of each month. The first payment will be made effective on the participant's normal retirement date (or on the first day of the month following actual retirement, if later), and shall be continued thereafter during the participant's lifetime. Upon the participant's death the same monthly benefit shall be continued to his or her spouse for one year, and sixty (GO) percent of that amount shall be continued to the spouse thereafter until the earlier of the spouse's death or remarriage. The normal form of benefit for a participant who is not married at the time of retirement is a single life annuity. If a participant who is not married at the time of retirement later marries, the spousal benefit provided in this paragraph shall not apply unless the participant requests an actuarially adjusted benefit. Notwithstanding the foregoing provisions of this paragraph the normal form of benefit for participants who are employed in a position not included in a bargaining unit on October 5, 2010 and not within ten (10) years of attaining the normal retirement date in effect on that date shall be a single life annuity The normal form of benefit provided in the third •uid fourth sentences of this Para>ranh Shall continue to apply to participants who are employed in positions included in a bargaining unit on October S, X010 until such time as changes to the normal form of benefit are implemented through the collective bargaining process. 4 ORD. NO. 33-10 Section 4. That Chapter 35, "Employee Policies and Benefits", Section 35.097, "Retirement Income; Basis, Amount, and Payment", Subsection (C), "Disability Retirement and Retirement Income", Paragraph (5), "Disability retirement income", Subparagraph (a), "Monthly income pa}'able", Sub-subparagraph (1) "Service- ~ Connected Disability", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: (5) Uieul~ility reti~rment income. (a) Monthly iniome~uyuhle. (1) Sen~iie-Connected Di~~crGility. "1'he benefit payable to a participant who retires from the service of the City due to total and permanent disability arising out of and in the course of city employment and occurring prior to October G, 2010 shall be a monthly retirement income equal to seventy-five (75) percent of the participant's final monthly compensation at the date of disability, subject to offsets for social security and workers' compensation benefits in accordance with subsection (C)(5)(a)(4) of this Section. "1'he benefit _plyabl_ eto a participant who retires from the service of the City due to total and permanent disability arising out of and in the course of city employment and occurring; on or after October G X010 tihall be a monthly retirement income equal to sixty (GO) percent of the participant's final monthly compensation at the date of disability, subject to offsets for social security and workers' compensation benefits in accordance with Subsection (C (Z,51(a)(4) of this Section. Notwithstanding; the preceding sentence the first sentence of this paragraph shall continue to apply to participants who arc em~~loved in a position included in a bargainingr unit on October 5, 2010 until this benefit is changed through the collective bargaining; process. Section 5. 'T'hat Chapter 35, "1~.mployee Policies and Benefits", Section 35.097,"Retirement Income; Basis, Amount, and Payment", subsection(D), "Benefits Other than on Ketiremcnt", Paragraph (2), "Benefit Payable in the I?vcnt of Participating Employee's Death on or Before the Normal Retirement llate", Subparagraph (a), "Death benefit--Service-Connected Death", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: (2) t3ene/it Puyuble ire the 1-;vent oJ~Particrf~utin~ F.mployee'e" Death on or 8%re the Norma/ Ketirement Dale: (a) Deuth hens/ii--,S~en~iie-Connected Death. If a participant's city employment is terminated by reason of death on or before the normal retirement date, and the death arises out of or in the course of city employment, there shall be payable the following: (1) To the participant's spouse or other designated beneficiary or beneficiaries, as the case may be, a lump-sum payment of ten thousand dollars ($10,000.00); plus (2) "1'o the participant's spouse, until the earlier of his or her death or remarriage, a monthly income equal to six GO ~et~-ty~-ft~e-(~5j percent of the participant's final monthly compensation at the date of death; or to a designated beneficiary or beneficiaries other than the spouse, until death, a monthly income equal to the actuarial equivalent of a lifetime benefit payable to the participant in the amount of six ~ 60 ~-ft~c~5} percent of the participant's final monthly compensation at the date of death; plus ORD. NO. 33-10 _~ (3) For each child of the participant until he or she attains the age of eighteen (18) years, and for each child from age eighteen (18) until age twenty-two (22) who is a full-time student in an ' accredited school, there shall be payable an additional monthly income equal to seven and one-half (7.5) percent of the participant's final monthly compensation. The maximum monthly income for the participant's spouse and children combined shall not exceed t~iir~et~-(~}} seventy-five (75) percent of the participant's final monthly compensation at the date of death. A nonstudent child's monthly income shall terminate effective the first day of the month next preceding the child's death, marriage, or the attainment of age eighteen (18), whichever occurs first; the monthly income of a child who is a full-time student shall terminate effective the first day of the month next preceding the child's death, marriage, or ~ the attainment of age twenty-two (22), whichever occurs first Legally adopted children shall be eligible for a monthly income in the same manner as biological children. Notwithstanding the provisions of subpara >r,~, anh (?~ above participants who are employed in a position included in a ba~ra~~> unit on October 5 2010 shall if their employment is terminated by reason of death on or before the normal retirement date and the death arises out of or in the course of city em~oyment be entitled to the followi~ bed fit payable to the participant's spouse until this benefit is changed thro~h the collective bargainine process• to the participant's spouse until the earlier of his or her death or remarriage a monthly income equal to seventy-five (75Lpercent of the partic~ant's final monthly compensation at the date of death• or to a designated beneficiary or beneficiaries other than the spouse until death, a monthly income equal to the actuarial equivalent of a lifetime benefit payable to the participant in the amount of seventy-five (75Lpercent of the participant's final monthly compensation at the date of death. Section G. 'that should any section or provision of this ordinance or any portion thereof, any paragraph, sentence, or word be declared by a court of competent jurisdiction to be invalid, such decision shall not affect the validity of the remainder hereof as a whole or part thereof other than the part declared to be invalid. Section 7. "That all ordinances or parts of ordinances in conflict herewith be, and the same arc hereby repealed. Section 8. "That this ordinance shall become effective immediately upon passage on second and final reading. PASShD AND ADOP"I'1~;D in regular session on second a final readuig on is the 5`h day of October, 2010. ~Sev-, MAYOR A'1"I'I?S' \~' C V" City Clerk I ~ first Readin r~ ~~ ~~~ Second Rcadin ~`0 ~ ~ 6 ORD. NO. 33-10 Coversheet MEMORANDUM TO: Mayor and City Commissioners FROM: David '~. Harden, City Manager DATE: September 27, 2010 Page 1 of 1 SUBJECT: AGh;NDA ["I'N:M 10. F. - IZEGULAR_COMMISSION MEETING OF OC"TOBER 5 2010 ORDINANCE NO. 33-10 ITEM BEFORE COMMISSION This ordinance is before Commission for second reading to consider an ordinance amending Chapter 35, "Employee Policies and Benefits", Section 35.089, "Definitions", to provide revised definitions of "Final Monthly Compensation" and "Normal Retirement Date"; amending Section 35.095, "Contributions of Participant and City", Subsection (A), "Participant's Contribution Account", to provide for a change in the contrbution amount; amending Section 35.097, "Retirement Income; Basis, Amount, and Payment", Subsection (A), "Normal Retirement Income", to change the no~7~~a1 form of retirement to life annuity; amending Subsection (C), "Disability Retirement and Retirement Income", Paragraph (5), Subparagraph (A), "Monthly Income Payable", Sub-subparagraph (1), "Service- Connected Disability", to modify disability average monthly earnings; amending Subsection (D), "Benefits Other Tha-~ on Retirement", Paragraph (2), "Benefit Payable in the Event of Participating Employee's Death On or Before the Normal Retirement Date", Subparagraph (A), "Death Benefit-- Seivice-Connected Death", to modify the monthly income General Employees Pension. BACKGROUND At the first -•eading on September 21, 2010, the Commission passed Ordinance No. 33-10. RECOMMENDATI.ON -- Recommend approval of Ordinance No. 33-10 on second and final reading. http://miweb001/agendas/Bluesheet.aspx?ItemID=3810&MeetinglD=272 10/6/2010 ORDINANCE N0.33-10 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AMENDING CHAPTER 35, "EMPLOYEE POLICIES AND BENEFITS", SECTION, "35.089, "DEFINITIONS", TO PROVIDE REVISED DEFINITIONS OF "FINAL MONTHLY COMPENSATION" AND "NORMAL RETIREMENT DATE"; AMENDING SECTION 35.095, "CONTRIBUTIONS OF PARTICIPANT Al\~ CITY", SUBSECTION (A), "PARTICIPANT'S CONTRIBUTION ACCOUNT", TO PROVIDE FOR A CHANGE IN THE CONTRIBUTION AMOUNT; AMENDING SECTION 35.097, "RETIREMENT INCOME; BASIS, AMOUNT, AND PAYMENT", SUt3SE CTION (A), "NORMAL RETIREMENT INCOME ", TO CHANGE THE NORMAL FORM OF RETIREMENT TO LIFE ANNUITY; AMENDING SUBSECTION (C), "DISABILITY RETIREMENT AND RETIREMENT INCOME", PARAGRAPH (5), "DISABILITY RETIREMENT INCOME", SUBPARAGRAPH(A), "MONTHLY INCOME PAYABLE", SUB-SUBPARAGRAPH (1 ), "SERVICE-CONNECTED DISABILITY", TO MODIFY DISABILITY AVERAGE MONTHLY EARNINGS; AMENDING SUBSECTION (D), "BENEFITS OTHER THAN ON RETIREMENT", PARAGRAPH (2), "BENEFIT PAYABLE IN THE EVENT OF PARTICIPATING EMPLOYEE'S DEATH ON OR BEFORE THE NORMAL RETIREMENT DATE", SUBPARAGRAPH (a), "DEATH BENEFIT-- SERVICE-CONNECTED DEATH", TO MODIFY THE MONTHLY INCOME; PROVIDING A SAVING CLAUSE, A GENERAL REPEALER CL:FUSE, AND AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. That Chapter 35, "Employ: Policies and Benefits", Section 35.089, "Defvitions", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: Fi~nl fr~r~l~rly a~n~aer~ntiorz For participants wfio retire or terminate employment with five (5) or more dears of credited service prior to October 6, 2010, fv~al monthly compensation means the total basic compensation received by a participant during the highest-paid twenty-fog (24) consecutive months of the one hundred twenty (120) months immediately preceduzg the termination of employment, divided by twenty- four (24). . For participants who are emplo, on C~~ctober 5, 2010, and who retire or terminate employnrieazt with five (5) or more tiears of credited service on or after October 6 2010 final monthl,~mpensation mea~~s the total basic compensation Non~nl reti~z~~~~t date. For participants who retire or terminate employment with five (5) or more years retirement date means the first day of the month coincident with or next following the date a participant attains t11e age of sixty (60) and completes ten (10) years of credited service, or the date on which a participant attains thirty (30) years of credited service, regardless of age, whichever occurs first. Effective October 6, 2010, for coincident with or next following the date a participant attains the age of sixtwtwo (62 and completes ten (10) 6, 2010 shall be the date a participant attautis the age of sixty-five (65, and completes ten years of credited service. A participant may continue in the employ of the City and continue to participate uz the plan beyond the normal retirement date. Notwithstanding any other provision of this paragraph, the defuution of nom~al retirement date contained in the first sentence of this paragraph shall continue to apply to participants who are Section 2. That Chapter 35, "Employee Policies and Benefits", Section 35.095, "Contributions of Participant and City, Subsection (A), "Participant's Contribution Account", of the Code of Ordinances of the City of Delray Beach is hereby amenc~~cl to read as follows: (A) Pnrtia~x~f~t s Cor~t~7buk~ni Aat~~utt. (1) (Tax-Defara~ Crnitnbi~ior~s.] For the purpose of this Section "Participant's Contribution Account" will consist of tax deferred participant contributions. Effective the first pay period beginning on or after October 1, 1989, employee contributions will be picked up by the City ORD. NO. 33-10 during the highest-paid twenty four X24) consecutive months of the one hundred twenty (120) months applicable, of the one hundred twenty (120) months iimn~cdiatel,~preceding the subs~~uent termination of and shall be treated as employer contributions for tax purposes. However, for all purposes of determining benefits under the plan, they will be considered participant contributions. (2) [Pai~ia~nr~ts' Car~tribifior~s.] Each participant will contribute toward the cost of the plan an amount equal to three (3) percent of the first four thousand eight hundred dollars ($4,800.00) of his basic annual compensation, and six (6) percent of basic annual compensation in excess of four thousand eight hundred dollars ($4,800.00) until the beginr~lg of the first pay period after September 25, 1984. Beginning with the first pay period after September 25, 1984, each participant will contribute toward the cost of the plan an amount equal to six (6) percent of basic con~~sation Effective as of the first pay period beguning on or after October 1, 1989, participant contributions will be equal to four and one-half (4 1 /2) percent of basic compensation on atax-deferred basis. Beginning with the first pay period after September 1, 1999, participants shall not be required to contribute to the plan, except those participants described in paragraph (4) of this Section Beginning with the first pay period after September 30, 2003, participants who are not included in the barg<~ining unit specific~ci in paragraph (4) shall contribute twv (2) percent of basic compensation Beginning with the first pay period after November 1, 2004, participants who are not included in the bargaululg unit specified in Paragraph (4) shall contribute twa and one-half percent (2.5%) of basic compensation Begituzing_with the first padperiod after October 6 2010 participants who are not included in a bargaining wvt shall contribute three and five one-hundreths percent (3.05°/> of basic compensation (3) [Total 6c~x~i~5 Pa~ble.] Anything in the plan to the contrary notwithstanding, the total benefits payable under the plan to, or with respect to, a participant shall not be less than the benefits that can be provided by the participant's contributions, and further provided, if a participant, who is ternlinated, elects to withdraw participant contributions, the participant will be entitled to the return of participant contributions with interest, in lieu of all other benefits payable under the plan. Effective September 1, 1999, if a participant has ten (10) or more years of credited service under the plan a noncompounded simple interest rate of five (5) percent per year shall be applied to the principal balance of the participant's contribution as accrued on December 31 of each year. Effective September 1, 1999, if a participant has less than ten (10) years of credited service under the plan a noncompowlded simple interest rate of three (3) percent shall be applied to the principal balance of the participant's contribution as accnied on December 31 of each year. Participa~zt contributions cannot be withdrawn while a participant reirtiaii~s in the employ of the City or after the payment of benefits under the plan has conunenced. (4) ~ A~liazbilih~ to Brtr~nirrring U~ut Enq~lot~. Participants who are members of the bargaining unit represented by the National Conference of Firemen and Oilers shall not be required to contribute to the plan unless a written actuarial valuation indicates that contributions are required to properly fund the plan u1 an actuarially sound manner. If an act.~ary selected by the Retirement Committee determines that additional contributions are required to properly fund the plan, the City and bargaululg unit members shall equally share such contributions on a percentage of payroll basis; provide that no member shall be required to contribute more than four aizd one-half (4 1 /2) percent of basic compensation unless the City and union agree to a ORD. NO. 33-10 greater participant contribution. Notwithstanding the foregoing, effective November 13, 2004, employees who are members of the bargaining unit represented by the National Conference of Firemen and Oilers shall contribute two and one-half (2 1 /2 percent of their gross pay to fund the Cit}~s defined benefit pension plan If an actuary selected by the Pension Board determines that additional monies are required to properly fund the plan, employees shall contribute at the same rate as all other non-represented employees who are members of the defined benefit pension plan However, in no event shall employees contribute less than two and one-half (2 1 /2 percent nor more than four and one-half (4 1 /2) percent of their gross pay, unless the union and the City bargain for a lesser or greater percentage. Notwithstanding the foregoing percent (3 05 %) of basic compensation upon implementation of this change through the collective barginining~rocess. Section 3. That Chapter 35, "Employee Policies and Benefits", Section 35.097, "Retirement Income; basis, Amount, and Payment", Subsection (A), "Normal Retirement Income", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: (A) Nomnl Retircrr~.~~t Irxnrrn (1) flntoi~r~t of Nonrnl Retirc~r~rrt Irurnrz~. The amount of retirement income payable to a pwficipant who retires on or after his normal retirement date shall be an amount equal to two and one-half (2.5) percent of final monthly compensation multiplied by credited service, expressed in years and tenths of a year, up to a ~riaximum of thirty (30) years n .,,.,;~ „+ .. ~,~ r,., .,++., ,,,,,a +r,„ „F ~ .,+„ rtirn -,na „~+;,, n+r, E;. ~ r~~ ~,,. ~~~~~, G l.i(1~J Vl / / multiplied by the participant's vested percentage as set forth in Section 35.091. (2) Paip~z~rt of No~~~nl Retirenr~zt Imm~~e. The monthly retirement income payable in the event of normal retirentier-t will be payable on the first day of each month The fast payment will be made effective on the participant's notnnal retirement date (or on the first day of the month following actual retirement, if later), and shall be continued thereafter during the participant's lifetime. Upon the participant's death the sarr~e monthly benefit shall be continued to his or her spouse for one year, and sixty (60) percent of that amount shall be continues} to the spouse thereafter until the earlier of the spouse's death or renti~iriage. The normal form of benefit for a participant who is not nnanied at the time of retirement is a single life annuity. If a participant who is not mi~uried at the time of retirement later marries, the spousal benefit provided in this paragraph shall not apply unless the participant requests an actuarially adjusted benefit. Notwithstanding the foregoing provisions of this paragraph, the normal form of benefit for participants who are employed in a position not benefit are implemented through the collective bargaining process. ORD. NO. 33-10 Section 4. That Chapter 35, "Employee Policies and Benefits", Section 35.097, "Retirement Income; Basis, Amount, and Payment", Subsection (C), "Disability Retirement and Retirement Income", Paragraph (5), "Disability retirement income", Subparagraph (a), "Monthly income payable", Sub-subparagraph (1) "Service- Connected Disabilit}~', of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: (5) Disnbilityrc~irenrrit iruonr. (a) Monthlyi~xtm~p~~ble. (1) Serrzc~-Crnnacrtcrl Disnbilih~ The benefit payable to a participant who retires from the service of the City due to total and per-~n~~nent disability arising out of and u1 the course of city employment and occurr~n~ prior to October 6, 2010 shall be a monthly retirement income equal to seventy-five (75) percent of the participant's finaal monthly compensation at the date of disability, subject to offsets for social security and workers' compensation benefits in accordance with subsection (C)(5)(a)(4) of this Section 5. That Chapter 35, "Employee Policies and Benefits", Section 35.097,"Retirement Income; Basis, An~c~tnlt, and Payment", subsection(D), "Benefits Other than on Retirement", Paragraph (2), "Benefit Payable in the Event of Participating Employee's Death on or Before the Normal Retirement Date", Subparagraph (a), "Death benefit--Ser~~ice-Connected Death", of the Code of Ordinances of the City of Delray Beach is hereby amended to read as follows: (2) B~~x~it Pn~ble in the Ezr~rt of Pnrtialntin~~ E rr~loi~'s Dcnth rn~ or Bc~ore the Non~~l IZ~irejf~~ Date (a) Dartli beyx~it-Serzic~Coru De~ztlt. If a participant's city employment is terminated by reason of death on or before the nom~al retirement date, and the death arises out of or in the course of city employment, there shall be payable the following. (1) To the participant's spouse or other designated beneficiary or beneficiaries, as the case may be, a lump-sum payment of ten thousand dollars ($10,000.00); plus (2) To the participant's spouse, until the earlier of his or her death or ren~an-iage, a monthly income equal to six 60 percent of the participant's final monthly compensation at the date of death; or to a designated beneficiary or beneficiaries other than the spouse, until death, a monthly income equal to the actuarial equivalent of a lifetime benefit payable to the participant in the amount of six 60 se~t~€iv~ percent of the participant's final monthly compensation at the date of death; plus ORD. NO. 3 ~-10 final monthly compensation at the date of disability, subject to offsets for social security and workers' compensation benefits in accordance with subsection~C)(5)(al(4) of this Section Notwithstanding the preceding sentence the first sentence of this paragraph shall continue to appl,~participants who are (3) For each child of the participant until he or she attaitis the age of eighteen (18) ye~~us, and for each child from age eighteen (18) until age twenty-two (22) who is a full-time student in an accredited school, there shall be payable an additional monthly income equal to seven and one-half (7.5) percent of the participant's final monthly compensation The maximum monthly income for the participant's spouse and children combined shall not exceed n~ety{9~ seventh five (75) percent of the p~u-ticipant's final monthly compensation at the date of death. A nonstudent child's monthly income shall tern~inate effective the first day of the month next preceding the child's death, marriage, or the attainment of age eighteen (18), whichever occLns first; the monthly income of a child who is a full-time student shall terminate effective the first day of the month next pn~ceding the child's death, marriage, or d1e attainment of age twenty--two (22), whichever occurs first. Legally adopted children shall be eligible for a monthly income in the same manner as biological children Notwithstanding the provisions of subparagraph (2) above, participants who are empk~yed in a position included in a batgFZining unit on October 5 2010 shall if their employirient is terminated by reason of death on or before the norn~al retirement date, and the death arises out of or in the course of ci e loytr~ent be entitled to the following benefit payable to the participant's spouse until this benefit is changed through the collective barg~unvzg~rocess: to the p<rticipant's spouse, until the Section 6. That should any section or provision of this ordinance or any portion then~f, any paragraph, sentence, or word be declared by a court of competent jurisdiction to be invalid, such decision shall not affect the validity of the rerrtilinder hereof as a whole or part thereof other than the part declarc~cl to be invalid. Section 7. That all ordinances or parts of ordinances i, conflict herewith be, and the sarr~e are hereby repealed Section 8. That this ordinance shall become effective iinmc~cliately upon passage on second and final reading. PASSED AND ADOPTED in regular session on second and final reading on this the day of 2010. ATTEST: MAYOR City Clerk First Reading Second Reading ORD. NO. 33-10 lifetime benefit payable to the participant in the amount of seven , -five 75~percent of the participant's final monthly compensation at the date of death Page 1 of 1 MEMORANDUM TO: Mayor and City Commissioners FROM: R. Brian Shutt, City Attorney DATE: September 17, 2010 SU[3JECT: n~~H=1~DA ITEM 12.13. - RI?GUL~~R CUN1MISSIQN ~_1EE"1'11G QF SI?PTE1~1B1?R 21, ZO10 ORDINANCE NO. 33-10 ITEM BEFORE COMMISSION The item before the City Commission is Ordinance No. 33-10 which provides for modifications to the General Employees Pension Plan. BACKGROUND Attached is a list of possible pension options in the General Employee Pension Plan. The proposed recommendations to the Pension Plan for all current member employees effective October 6, 2010, will change the on-duty disability from 75% of earnings to 60% of earnings, change the period used to calculate average earnings from 2 years to 3 years, and increase employee contributions by 0.55%. For all member employees over 10 years from their normal retirement date, changes include the normal benefit for married member from 60% joint & survivor to Life Annuity and change the normal retirement date to age 62 or 30 years of service regardless of age. For new members hired after October 6, 2010, changes include increasing the period used to calculate average earnings to 5 years and changing the normal retirement date to age 65 and eliminating the 30 years and out option. RECOMMENDATION The City Attorney recommends approval of Ordinance No. 33- l0. http://www.mydelraybeach.com/Agendas/Bluesheet.aspx?ItemID=3802&McetingID=271 9/27/2010 ~ ~ n ~ M . -i M 0 0 0 1 N ~> ~/f N N ~ iI} iA N 00 c .~ L f0 W d m t4 d Q W w O t O O 0 O .-i of O .-~ OD 3 rl H C C L fp N W c ~ Q ~ it ~' 4! O N > Q V ~ G a c ~~ CJ O a a° O tin N L d a a «. ., ro a m ~~ N °J a ~ Q o ~ a` O Z CO O ~j ~ c ~> C L Q ~ w O ~ Z .~ C c Q L ~ ~ j v 7 N ~ C ~ M ~ O 'Q L 1 ~ o f0 t0 ~ A O N n y c °1 a ~ ~ a ~ ~ > .~ ,~ E o p ~ O w O d > LL •L L ~ io A v ~ ~ a L N p L O Z .~ aL N d OD f0 O O1 ~^ U ~ .L ~ N ~ O ~ L d ~p U T ~ O N N ~ L a+ fC 3 a, u1 O t0 M N OG f0 O v ~ _u '~' d Z ~ L N 19 C O ~ d L i U d . L r ~ L C ~ O L V~ ~3 ~. m ~ m ~, O A i a E d a L Q O r d a v ~ L N- O ~ a` M O Z c O C. 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O A ~ 41 v ~ a C ~ X40 O ~ > G 1 O C ~ ~ ~ N N C 'C O O O d co c a ~+ ,i a~i `o V VI ~ N + ~ y L N•• C1 ,Q i CJ ti ~ Q~ ~ O QI > ~ ? ~ CC 41 OJ C y d ~ ~ + V o a a E m~ v C N~ m~ ~ ~ .-i ~ ~ ~+ E °~ -_ w Q m ~ - a ~° Q f6 ~ - a .~ Q ~ O z a` ~ ~ o ~ Z Z Z Z O O O N O 00 t/Y ^ ~ O ~ O . -~ .-1 01 M ~ to [f N N ~ ~ ~ ~N-1 eN-1 N N N N a ~ ~ C t_ ~~ a 7 Q o ~ a O O O ~ O ~ a ~c 0 '~ _ ~ O Q ~ O M ' O O ++ a r., G ~ O u ' 3 ~O C 4'- ~ C 3 .Y 3 H a ~ W O~ ti m C 3 ~ ~ ~ p O H N -O 7 C C L a m ~, C c a~ >, ~. c a~ in ~ ~- a T .D O ~ ~ ~ ~ 'a ~o c v a° a ~ 0 ~ O ~+ U vai V vaf W pp In a T ' ~' R O O W t0 ~, ~ OD ~ T _ O ~ u1 r' v y+ 7 ;~ C ~ a m O p a m O p o _ o C ~~ .~ ~ W C O~ O~ C y w 7 W E O ~ O !~ ~ Y1 N~ .~ cp C~ W ~-1 W rl J= ~O m N O m W N ~ h OA a C ~ ~C f0 ~ ~ C oho W ~ ~ ~ a ~ ~7 3 uj f~6 O C O .~ ~ ~ 'G ~ +, _ ~ Q ''~ ~ C eV i+ Q N^~,, > O vai oe ~ C 3 ro C ~~ ~' O~ W O~ W m G 7 0 ` a T~ 0 0 ego m ~ m ~ 'o ~ 'c ~ a a ~' A _ ~' o a `~° o o W ~ ~ ~ on C N y"~ 3 +S+ V N+ 3 N C ~ ~ ~ ~ •3 ~ W ~ S ~ D ~ o t 3 a~ a~ o ~. 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O O per, Z O ~ ~ O ~ .C «. ~ t f0 ~. ~ a o .3 ~. .3,~ Z'~ c cM ~W W~ a` hd0 00.p f6 f0 O O u_ '^ • u_ • ~ ~ ~ 'C H ~ C ~ N fd O ~ W ~ O B E ~ d O i E O ~ u ~ ~ ~ ~ a=+ d M ~ ~` ~ i T ~ ~ ~ .N-t ~ ~ E ~, '" E °~ T f0 O ~ W ~3 i, ~ Y ~ 3 i, ~ ~ ` fC c ~ M N ~ M O o a Q Q T A ~ O n n ~ ~ ~ ~ E E O a i E i a E ~ > ~ ~ li > u U .` ~ ra °1 ` m a ~ u a o O o n .~ C > C > O U N E d C ~ ~ ~ Q. ~ 4D C ~ Z +_' O ~ ` +.+ O ` °' c ~~ W a c a o ~ F- ~ O O O O W z z z z a .~ a J ~ Y-~ O O r ~ > v •~ -O ~ ~ O ~ ~ y _y L i+ N ~O ,i O N O ` l0 N E a O T ~i O r ^~ ~ ~ O GJ ~ E E t^p ul L_ ~ ~ ~"• ~ co ~ Cl ~n a ~ +O+ O fa ~ +=' E E -a 3 ~- ~ ~ O O c Z~,, a C E v ~, V G O L T LL ,Q i O N f0 a ~ E '° d } ~ c ° ~ o ~ Y ~"~ .L L i r ~+ d 0 C C C L L LL~ U U fD d O H 00 C .~ v Cl ec Q! m N +• tv 3 u ro u O d 7 d a GJ t r d bq C Z U o ~ a a o Q. ~ a f0 U y u T tQ O i M ~ d N t py r+ 00 d C 14 ~ ~ t u .~ 'y O ~ C _ ~ ,~ a ~ ,~ ~, ~ °A v ~ ,a ~ ri y C ~' •H ~ O r a C ~ cd C G GJ L N ~ .L V 3 ~ _O i ~ O y- C ~ ~ Z a=+ a y c E U ~ O U r 'v September 17, 2010 Mayor Nelson S. "Woodie" McDuffie 100 NW 1ST Avenue Delray Beach, FL 33444 Re: Proposed Pension Plan Changes. Dear Mayor McDuffie: have recently read the City Manager's recommendations on the changes to the City's general employee pension plan. Based on these recommendations, I am compelled to write this letter to you. While many proposed changes to the general employee pension plan are under consideration, I would like to address the proposal to increase the retirement age to 62 and eliminate the 30 years-and-out provisions for employees greater than 10 years from retirement. For many current employees that are in this category, this will result in them having to work for more than 30 years while waiting for their pension benefits to begin. Please understand that if you eliminate the 30 year-and-out provision, you will essentially leave retirement plans of this unprotected class of employee in limbo since they would be exposed to the potential of future elected officials being enticed to further extend the retirement age of general erployees. By removing this fail safe, you will fundamentally turn the pension plan into a system that resembles the federal social security program with respect to the retirement age constantly being pushed back. Please exclude this provision from any changes you may make to the general employee pension program. Sincerely, Scott pe, AI P, FCP Senior Planner ,~~.,.........eL_f ~'~ ~~,~..,.'' ~L~ ~ ( ~°~f`.S