Loading...
Ord 10-15ORDINANCE NO. 10-13 AN ORDINANCE AMENDING THE CODE OF ORDINANCES OF THE CITY OF DELRAY BEACH, FLORIDA, BY AMENDING CHAPTER 33 "POLICE AND FIRE -RESCUE DEPARTMENTS" AT TITLE 3 "PENSIONS," BY AMENDING SECTION 33.60, DEFINITIONS; AMENDING SECTION 33.62, BENEFIT AMOUNTS AND ELIGIBILITY; AMENDING SECTION 33.659, RETIREMENT BENEFIT ENHANCEMENT; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Delray Beach and Palm Beach County Police Benevolent Association recently ratified a collective bargaining agreement for October 1, 2014 through September 30, 2017; and WHEREAS, the collective batgakiing agreement contains numerous changes to the pension benefits of police officers; and WHEREAS, to implement the pension changes, it is necessary to amend the Police and Firefighters Retirement System, codified in Sections 33.60 through 33.73 of the Delray Beach City Code. NOW THEREFORE, IT IS HEREBY ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. Recital Adopted. confirmed. Section 2. Code Amended. amended to read as follows: Sec. 33.60. - DEFINITIONS. That the above --stated tecital is hereby adopted and That Section 33.60 "Definitions" of the. City Code is hereby For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning. Average monthly earnings a( _One thirty-sixth of the arithmetical average for the highest consecutive thirty -six --month period preceding the actual retirement or termination of a member; provided, however, the benefit derived shall not be less than the benefit that would have been paid based on a definition of average monthly earnings of one twenty-fourth of the arithmetical average for the highest consecutive twenty-fout-month period, as calculated prior to the effective date of Ordinance No. 17-04. 2 Notwithstandin ata a h 1 above for olive officer members hired after ul 7 2015 aveta e monthl earnin s means one sixtieth of the arithmetical average- for the highest five ears of the last ten ears)receding the actual retirement or termination of the member. �_In addition to other applicable limitations set forth in the plan, and notwithstanding any other provisions of the plan to the contrary, for the plan years beginning on or after January 1, 1996, the annual compensation of each member taken into account under the plan shall not exceed the annual compensation limit of Section 401(a)(17)(B) of the Internal Revenue Code, as amended for cost of living increases, which is incorporated herein by reference. Earnings. Ptior to October 1, 2006, earnings shall mean base wages paid to a member, including state education compensation, police basic education and police and fire career education compensation, but excluding overtime, bonuses and any other payments. Effective October 1, 2006, earnings for fiteftghtet members shall mean base wages paid to the member including state education compensation and fire career education compensation, but excluding overtime, bonuses and any other payments. Effective October 1, 2006, earnings for police officer members, shall mean base wages paid to the member including state education compensation, police basic education, police career education compensation and up to twenty-five (25) hours of overtime compensation per fiscal year, but excluding bonuses and any other payments. Effective 1& 7. 2015 earnings for police officer members who are employed and have less than ten (10) Yeats of continuous service on July 7, 2015, shall mean base wages aid to the member includingstate education com enation olive basic education P0live career education com enation and u to twen --five 25 hours per fiscal eat of overtime com enation earned thtou hul 7 2015 but excluding overtime compensation earned afterul 7 2015 bonuses and an otherpaymmen ts. Earnings for olive officer members hired after ul 7 2015 shall mean basic wa es 12aid to the member including state education com. ensation olive basic education olive career education comenation but exclu& overtime com enation bonuses and an other a meats. Police d aver Member A olive officer member is anem to ee classified as a full time sworn olive officer or olive officer in trainin who is included in the olive officers and ser giants bar ainin unit or not included in an barainin unit on the effective date of this ordinance. A police officer member shall also include members of the olive lieutenants bat 4' ='g unit u on ratification of a collective bar ainin a Bement containin the provisions of this ordinance. Section 3. Code Amended, That Section 33.62 `Benefit amounts and eligibility" of the City Code is hereby amended to read as follows: Sec. 33.62. - BENEFIT AMOUNTS AND ELIGIBILITY. 2 Ord No. 10-15 wing meanings; T_ (A) Normal Retirement Date. This term shall have the follo (1) For employees who are eligible to become members of the system as of its effective date, the normal retirement date shall be the date of their fifty-second birthday, regardless of the number of years of continuous service. (2) For employees who are members of the system and terminate employment prior to October 1 1989, the normal retirement date shall be the first day of the month coincidental with or , subsequent to their fifty-second birthday and the completion of twenty (20) pears of continuous service. (3) For employees who are members of the system and elect to retire or terminate employment on or subsequent to October 1, 1989, the normal retirement date shall be the first day of the month coincident with or subsequent to completion of twenty (20) years of continuous service. (4) For employees who ate members of the system and retire or terminate employment on or after December 31, 1999, the -normalretirement date shall also be the first day of the month coincident with or subsequent to age fifty-five (55) and the completion of ten (10) years of continuous service. N'or otsce orucer mezziucI� �Lu _11 — . -- -- f St da of the month coincident with or subse tient to a e fif -five 55 and the com letion of ten10 ears of cont mous service or cam letion of twee -five 25 ears of continuous service regardless of age. (B) Normal Retirement Bent 1 Normal Ii etirement Bene tor Fire _ter Mernb6�S- {� a Duration, SZumiy)or Benefi'tr. A ftte_efightet member retiring on his normal retirement date s normal retirement date shall receive a monthly benefit which shall commence ce and be continued thereafter during his lifetime. Upon his death the full retirement benefit shall be continued to his spouse for one year and sixty (60) percent of that amount continued thereafter until the earlier of death or remarriage. {2 b.(�A�nount. Normal retirement benefits shall be in the amountcontinuous 0 done -half f percent of average monthly earnings for each year tet gh members entpjeyees with more than ten (10) but less than twenty (20) years of continuous service. Normal retirement benefits shall be in the amount of three (3) percent of average monthly earnings for each year of continuous service if a firef ghter membere has attained twenty (20) or more years of continuous service, subject to a maximum of seventy-five (75) percent of average monthly earnings. Provided, however, that in no event shall a firefihg_tet inembe s total benefit be less than two (2) percent of average monthly earnings for each year of continuous service - 3 Ord No. 10-15 However, fire titer members as of the effective date shall receive at their n0xuiaJ retirement date (age fifty-two (52) regardless of years of service) the greater of the benefit provided by the formula above or fifty (50) percent of average monthly earnings. �(c) Fire &erlV 6viberr - Optional EnbaacedMultiplier. �41l)_Notwithstanding any provision of the System to the contrary, a fire,_fi member who is actively employed by the City on March 15, 2004, but who is not participating in the deferred retirement option plan (DROP), may elect a normal retirement benefit in the amount of three and one-half (3.5) percent of average monthly earnings for each year of continuous service if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. f'irefit htex members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A), and shall receive the enhanced multiplier for all periods of continuous service. An election under this subparagraph inust be on or before April 15, 2004. �Q__Notwithstanding any provision of the System to the contrary, a firefighter member who is actively employed by the City on March 15, 2004, but does not elect the enhanced multiplier in accordance with subparagraph (a), above, and who is not participating in the deferred retirement option plan (DROP), may thereafter elect a normal retirement benefit in the amount of three and one --half (3.5) percent of average monthly earnings for all future continuous service after: making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earrings. Firefighter members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A). Such member may also elect to purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by paying the full actuarial cost of the enhanced multiplier, plus the full cost of any actuarial or other professional services required. (,s�.(3�_Notwithstanding any provision of the System to the contrary, a firefighter member who is hired after March 15, 2004 and before April 9, 2013, and who is not participating in the deferred retirement option plan (DROP) may elect a normal retirement benefit in the amount of three and one-half (3.5) percent of average monthly earnings for all future continuous service after making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. Fire_ fihte�: members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition 4 Ord No. 10-15 to the member contribution specified in Section 33.64(A). Such member may also elect to purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by paying the full actuarial cost of the enhanced multiplier, plus the full cost of any actuarial or other professional services required. Firefighter members hired on or after April 9, 2013 shall not be eligible for the optional enhanced multiplier provided in this paragraph (3). {d�44�—The election to receive the enhanced multiplier under this paragraph must be made in writing on a form provided by the City. Such election shall be irrevocable. If an eligible member does not elect an optional enhanced multiplier under this paragraph, or if an eligible member elects the enhanced multiplier for only a portion of his total continuous service, then the benefit provided in paragraph (2) shall be used to calculate the benefit for all continuous service to which the enhanced multiplier does not apply. H an eligible member elects the enhanced multiplier and attains more than ten (10) but less than twenty (20) years of continuous service, the member's benefit shall be determined in accordance with paragraph ((}, and the member shall receive a refund of all additional contributions and amounts paid for the enhanced multiplier, without interest. In no event shall a member's total benefit be less than two (2) percent of average monthly earnings for each year of continuous service. (4;(d� Upon becoming eligible for normal retirement, a firefighter member shall be one hundred (100) percent vested in his accrued benefit. 2Normal l3 etirement Bene zt or Police D cer Members. a Duration. Survivor Bene ts. A police officer ineinber retire on his normal retirement date shall receive a monthl r benefit which shall commence on his normal retirement date and be continued thereafter Burin his lifetime. U on his death the full retirement benefit shall be continued to his s Ouse fax one ear and six 60 ercent of that amount continued thereafter until the earlier of death or remarriage. (bi Amount Normal retirement benefits shall be in the amount of two and one-half (216) T ercent of avera e monthly earnings for each year of continuous service for em Io ees with more than ten 10 but less than twee 20 ears of continuous service. Normal retirement benefits shall be in the amount of dixee 3 ercent of avera e montbl earnings for each year of continuous service if a olice officer member has attained twee 20 or more ears of continuous service sub'ect to a maxitnuinn of seven -five 75percent of average monthly earnings. Provided however, that in no event shall a olive officer memberstotal benefit be less than two (2)—percent of average monthl gamin s for each year of continuous service. However olive officer memb ers em to ed on ul 7 2015 shall receive at their normal retirement date the neater of the benefit Ptovided by the formula above or fi£ 50percent of average monthl earnin s. c Police C) ice Members - O Tonal Enhanced Multi lien. Ord No. 10-15 1 Notwithstanding ggy pro -vision of subsection 3)(2)(b to tYae contx a o�cc officer member who is activelem to ed b the Ci on March 15 2,004 but who is notartici atin in the deferred retirement OV tion Plan ROP May elect a noanal retirement benefit in the amount of three and one-half 3.5 ercent of avexa e monthl earnin s for each ear of continuous service if the member attains twee 20 or more ears of continuous service subiect to a maxiinum of ei h -seven and one-half 87.5 ercent of avexa e tnonthl earn1r+ s. Police officer members electro this enhanced multi Ilex shall thereafter contribute three 3 ercent of earnings to the Trust Fund in addition to the member contribution s ecified in Section 33.64W, until ly 7 2015• and shall receive the enhanced multi Tier for all periods of continuous service. An election under this sub era ra h must Ue on or before April 15 2004, 2 Notwithstandm an rovision of subsection 2 to the co a olice officer member who is actively emto ed by the Ci7 on Match 15 2004 but does not elect the enhanced multi lien in accordance with subpatagra h a above and who is not pattidpatin in the deferred retirement o tion Ian ROP na T thereafter elect a normal retirement benefit in the amount Of three and one-half 3.5 ercent of average monthl earnings for all future continuous service after making such election if the member attains twen 20 or more ears of continuous service subject to a maximum of e' h -seven and one-half 87.5 ercent of averse monthly earnin s. Police officer members electro this enhanced multi tier shall thereafter contribute three 3 etcent of e -a -t in s to the Trust Fund in addition to the member contribution specified in Section 33.64(A), until ul 7 2015. Such member ins also elect to purchase the enhanced multi Iiet for some of all eriods of continuous service riot to the date of the election b a inthe full actuarial cost of the enhanced itier Iusglh the full cost of gay actuarial or other professionaI services required. 3 No thstanding any pgovision of subsection 2 to the contra a Qan officer member who is hired after March 15 2004 and before A til 9 2013 and who is not participating in the deferred retirement option flan ROPLair elect a normal retirement benefit in the amount of three and one-half 3.5 ercent of avexa YC monthl earnin s for future continuous service after melon such election if the tnen-abet attains twee 20 or snore years of continuous service s biect to a inaximutn of ei h -seven and one-half 87.5 ercent of avexa e monthlyeamm s. Police officer members elec this enhanced multi lien shall thereafter contribute three 3 ercent of earnings to the Trust Fund in addition to the member contributions ecified in Section 33.64 A throu h ul 7 2015• Such member may also elect to purchase the enhanced multiplier for some or all eriods of continuous service riot to the date of the election b a in the f ffl actuarial cost of the enhanced multi lien plus the full cost of an actuarial or other plofessional services re uked. Police officer members hired on or after Ord No. 10-15 (C) Al2ril 9 2013 shall not be eli ble for the o tional enhanced tpj ft her ptoviaea to this ara a h 3 . 4 If an eli Lble.member elects the enhanced multi liet and attains more than ten 10 but less than twee 20 ears of continuous service the member's benefit shall be determined in accotdance with subsection (PB)pU and the ineinber shall receive a refund of all additional contributions and amountsaid for the enhanced multi tier, without interest. In no event shall a member's tot benefit be less than two 2 etcent of aveta e znonthl earnings for each Year Of continuous service. d Norrsaal RetirementBene 2t or Police 0 cer Members E ectitie ul 7 2015 1 Notwithstandin an other rovision of this section 33.62 the normal retirement benefit for police officer members employed onu17 2015, and police officer members hired afterul 7 2015 shall be determined in accordance with this subparagraph Cdl 2 The nor al retirement benefit for DoEce officer members with toren 20or more yem of continuous service on ul7 2015 shall be determined in accordance withara •a hs andc above. 3 The normal retirement benefit forpolice officer members who are ein toed and have less than twee 20 ears of continuous service on ul 7 2015 shall be shall be determined in accordance with 42aragrVhs and c above for continuous service thtou hul 7 2015 and three 3 percent of average inonthl earnin s for continuous service after ul 7 2015 subject to a maxitnuin annual starting benefit of X108,000. 4 The normal retirement benefit for olice officer members Nixed after ul 7 2fl15 shall be two and three-fourths 2.75 ercent of averae tnonthl earnin s for each Vear of continuous service subject to a maximum annual stattin benefit of $10B4O00 and £itther subject to a maximum benefit of sixty-eight and thtee- fourths 68.75 ercent of average monLIft earnings. e U on becoming eli 'ble for normal retirement a police officer member shall be one hundred 100 ercent vested in his accrued benefit. Early Retirement Date. On or after December 31, 1999, a police officer member hired on or before ul 7 2015 or a firefi titer member nay retite on or after the early retitement date, which shall be the first day of any month coincident with or next following the attainment of age fifty (5 0) and the completion of ten (10) Yeats of continuous service. Early retirement is retirement from active employment with the City on or after the early retirement date and prior to the normal retirement date. A 12olice officer member hired after ul 7 2015 shall not be eli b1e for earl rettrement. (D) Early Retirement Ben ft. The amount of the early retirement benefit shall be determined in the same mannet as the nominal retirement benefit, except that continuous service and average final Ord No. 10-15 compensation shall be determined as of the early retirement date. The benefit payable shall be reduced by three (3) percent for each year by which the commencement of benefits precedes the normal retirement date. The early retirement benefit provided in this subsection (D) shall have no application to the early retirement incentive provided in Section 33.687. Section 4. Code Amended, That Section 33.64 "Contributions" of the City Code is hereby amended to read as follows: Sec. 33.64. - CONTRIBUTIONS. (A) .Member Contribaiions. (1) Effective the first pay period after September 1, 1999, members of the retirement system shall make regular contributions to the Trust Fund at a rate equal to three (3) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to mare the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. (2) Effective the first pay period starting after May 3, 2011, members of the retirement system employed as firefighters shall mare regular contributions to the Trust Fund at a rate equal to six (6) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to mane the contribution specified herein, These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer requited. (3) Effective the first pay period starting after October 4, 2011, members of the retirement systern employed as police officers shall make regular contributions to the Trust Fund at a rate equal to six (6) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member conti7.butions are no longer required. (4) Notwithstanding any other provision of this section 34.64, members of the retirement system hired on or after April 9, 2013 shall male regular contributions to the Trust Fund at a rate equal to nine (9) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to Hoare the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. 8 Ord No. 10-15 (5) Notwithstanding -any other ptQyision of this section 34,64,12olice officer members em to ed on 1& 7 2015 shall make re at contributions to the Trust Fund at a rate equal to nine 9 ercent of their res active annual cam s. Eli 'ble ens to ees as a condition of membersbi shall a ace in Y!Wn u on becoming a member to make the contribution specified herein. These contributions shall be deducted from the comings before the same are paid, until the rn et has earned the ixiaximum normal retirernent benefit a able under the S stem. 40 The City shall pick up the member contribution required by subsections (A)(1), (A)(2), (A)(3) and (A)(4) above. The contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code. The City shall pick UP the member contributions from funds established and available in the salaries account, which funds would have otherwise been designated as member contributions and paid to the pension fund. Member contributions picked up by the City pursuant to this subdivision shall be treated for purposes of making a refund of member contributions, and for all other purposes of this and other laws, in the same manner and to the same extent as member contributions made prior to the effective date of this subdivision. The intent of this subdivision is to comply with Section 414(h)(2) of the Internal Revenue Code. No employee shall have the option of choosing to receive the contributed amounts directly instead of having them paid by the City to the System. Section 5. Code Amended. That Section 33.689 "Retirement Benefit Enhancement of the City Code is hereby amended to read as follows: Sec. 33.689. -RETIREMENT BENEFIT ENHANCEMENT. (A) Effective October 1, 1994, the benefits paid to eligible retirees or their beneficiaries shall be adjusted as provided in this Section. Fat the purpose of this Section, "eligible retirees" are members who retired of terminated employment after September 30, 1993, and whose date of hire as a City Police Officer or Firefighter was twenty-five (25) or mote years prior to the benefit adjustment date. The benefits payable under the system to all eligible retirees or their beneficiaries shall be based on the amount of insurance premium tax revenues received by the City for the preceding plan year pursuant to chapters 175 and 185, Florida Statutes. A minimum benefit increase of one percent per year will be provided, regardless of the amount of premium tax revenues received by the City. (B) Firefighter retirees. To the extent total annual premium tax revenues received pursuant to Chapter 175, Florida Statutes, exceed one hundred ninety seven thousand nine hundred ninety-five dollars ($197,995.00), the annual one percent minimum adjustment for firefighter retirees will be increased in increments of one-tenth of one percent, based on the actuary's determination that the amount of the excess premium tax revenues is sufficient to fund the benefit increase on an actuarially sound basis. The maximum amount of the total annual benefit increase shall not exceed four (4) percent, regardless of the amount of premium tax revenues received by the City. (C) Police officer retirees. To the extent annual premium tax revenues received pursuant to Chapter 185, Florida Statutes, exceed three hundred six thousand nine hundred twenty-seven dollars 9 Ord No. 10-15 ($306,927.00) and are less than four hundred forty-six thousand four hundred seven dollars ($446,407.00), the annual one percent minimum adjustment for police officer retirees will be increased in increments of one-tenth of one percent, based on the actuary's determination that the amount of such premium tax revenues is sufficient to fund the benefit increase on an actuarially sound basis. The maximum amount of the total annual benefit increase shall not exceed four (4) percent, regardless of the amount of premium tax revenues received by the City. Annual premium tax revenues received pursuant to Chapter 185, Florida Statutes, in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00) shall be used to provide for the inclusion of overtime compensation, up to a maximum of three hundred hours per year, that the actuary for the plan determines may be funded on an actuarially sound basis entirely with annual Chapter 185 premium tax revenues in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00). When the actuary for the plan determines that adequate premium tax revenues received pursuant to Chapter 185 in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00) annually have been allocated to fully fund on an actuarially sound basis the inclusion of three hundred hours of overtime compensation annually in the earnings of active police officers who are not participating in the Deferred Retirement Option Plan, then all future additional premium tax revenues shall be used to provide the annual benefit adjustment for police officer retirees. (D) The annual benefit adjustment provided under this Section shall be compounded annually (i.e. the increase shall be based on the benefits received by plan members and beneficiaries at the end of the preceding plan year). The benefits payable under the system to all eligible retirees or their beneficiaries shall be adjusted annually on the anniversary of the retiree's first benefit payment. Disability retirees and their beneficiaries are not eligible to receive the retirement benefit enhancement. Notwithstanding any other provision of this section 33.689 effective JLAZ 7 2015 no further benefit enhancement or benefit adjustment shall be aid to olice officer retirees other than the one petcent er ear benefit increase rovide lin subsection A above. Section 6. Seve�ra� The provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining sections, sentences, clauses, and phrases of this Ordinance but they shall remain in effect, it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Section 7. Inclusion in the Code. It is the intention of the City Commission, and it is hereby ordained that this Ordinance shall become and be made a part of the City of Delray Beach City Code; that the sections of this Ordinance may be renumbered or relettered to accomplish such intention; and that the word "Ordinance" shall be changed to "Section" or other appropriate word. 10 Ord No. 10-15 Section 8. Effective Date. That this ordinance shall be effective invnediately upon its passage on second and final reading. -P AND ADOPTED in -regular session on second and final reading on this the 7th day of jWy, 2015. Attest: ` City Clerk First Reading: Match 31.2015 Second Reading July 7, 2015 11 Ord No. 10-15 ORDINANCE NO. 10-15 AN ORDINANCE AMENDING THE CODE OF ORDINANCES OF THE CITY OF DELRAY BEACH, FLORIDA, BY AMENDING CHAPTER 33 "POLICE AND FIRE-RESCUE DEPARTMENTS" AT TITLE, 3 "PENSIONS," BY AMENDING SECTION 33.60, DEFINITIONS; AMENDING SECTION 33.62, BENEFIT AMOUNTS AND ELIGIBILITY; AMENDING SECTION 33.689, RETIREMENT BENEFIT ENHANCEMENT; PROVIDING FOR SEVERABTLTTY; PROVIDING FOR TNCLUSTON IN THE CODE,; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Delray Beach and Palm Beach County Police Benevolent Association recently ratified a collective bargaining agreement for October 1, 2014 through September 30, 2017; and WHEREAS, the collective bargaining agreement contains numerous changes to the pension benefits of police officers; and WHEREAS, to implement the pension changes, it is necessary to amend the Police and Firefighters Retirement System, codified in Sections 33.60 through 33.73 of the Delray Beach City Code. NOW THEREFORE, IT IS HEREBY ORDAINED BY THE CITY COMMISSION Oh THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS: Section 1. Recital Adopted. That the above-stated recital is hereby adopted and confirmed. Section 2. Code Amended. That Section 33.60 "Definitions" of the City Code is hereby amended to read as follows: Sec. 33.60. - DEFINITIONS. For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning. Arerage nlonthy earnings. 41�__One thirty-sixth of the arithmetical average for the highest consecutive thirty-six-month period preceding the actual retirement or termination of a member; provided, however, the benefit derived shall not be less than the benefit that would have been paid based on a definition of average monthly earnings of one t-,venty-fourth of the arithmetical average for the highest consecutive twenty-four-month period, as calculated prior to the effective date of Ordinance No. 17-04. (2) NotwithstandingtTragraph (1) above, for police officer members hired after [DATEj. average monthly earnings means one sixtieth of the arithmetical average for the highest five years of the last ten years preceding the actual retirement or termination of the member. �3�In addition to other applicable limitations set forth in the plan, and notwithstanding any other provisions of the plan to the contrary, for the plan years beginning on or after January 1, 1996, the annual compensation of each member taken into account under the plan shall not exceed the annual compensation limit of Section 401(a)(17)(B) of the Internal Revenue Code, as amended for cost of living increases,which is incorporated herein by reference. Earnlligs. Prior to October 1, 2006, earnings shall mean base wages paid to a member, including state education compensation, police basic education and police and fire career education compensation, but excluding overtime, bonuses and any other payments. Effective October 1, 2006, earnings for firefighter members shall mean base wages paid to the member including state education compensation and fire career education compensation, but excluding overtime, bonuses and any other payments. Effective October 1, 2006, earnings for police officer members, shall mean base wages paid to the member including state education compensation, police basic education, police career education compensation and up to twenty-five (25) hours of overtime compensation per fiscal year, but excluding bonuses and any other payments. Effective [DATE], earnings for police officer members who are employed and have less than ten (10) years of continuous service on [DATE], shall mean base wages paid to the member including state education compensation,12olice basic education, police career education compensation and up to twenty-five 25) hours per fiscal year of overtime compensation earned through [DATE], but excluding overtime compensation earned after [DATE], bonuses and any other payments. Earnings for police officer members hired after [DATE] shall mean basic wages paid to the member including state education compensation, ipolice basic education, police career education compensation. but excluding overtime compensation; bonuses and any other naymcnts. Police O fcer Member. A police officer member is any employee classified as a full—time sworn police officer or police officer in training who is included in the police officers and sergeants bargaining unit or not included in any bargaining unit on the effective date of this ordinance. A police officer member shall also include members of the police lieutenants bargaining unit upon ratification of a collective bargaining agreement containing the provisions of this ordinance. Section 3. Code Amended. That Section 33.62 "Benefit amounts and eligibility" of the City Code is hereby amended to read as follows: Sec. 33.62. - BENEFIT AMOUNTS AND ELIGIBILITY. 2 Ord No. 10-15 (A) Normal Retirement Date. This term shall have the following meanings: (1) For employees who are eligible to become members of the system as of its effective date, the normal retirement date shall be the date of their fifty-second birthday, regardless of the number of years of continuous service. (2) For employees who are members of the system and terminate employment prior to October 1, 1989, the normal retirement date shall be the first day of the month coincidental with or subsequent to their fifty-second birthday and the completion of twenty (20) years of continuous service. (3) For employees who are members of the system and elect to retire or terminate employment on or subsequent to October 1, 1989, the normal retirement date shall be the first day of the month coincident with or subsequent to completion of twenty (20) years of continuous service. (4) For employees who are members of the system and retire or terminate employment on or after December 31, 1999, the normal retirement date shall also be the first day of the month coincident with or subsequent to age fifty-five (55) and the completion of ten (10) years of continuous service. (5) For police officer members hired after VATRl, the normal retirement date shall be the first day of the month coincident with or subsequent to age fifty-five 55) and the completion of ten 10) years of continuous service, or completion of twenty-five 25) years of continuous service, regardless of age. (B) Normal Retirement Benefit (1) Normal Retirement Benefitor Fire � h1er Members. {�_(gLDuration, Survivor Benefits A firefighter member retiring on his normal retirement date shall receive a monthly benefit which shall commence on his normal retirement date and be continued thereafter during his lifetime. Upon his death the full retirement benefit shall be continued to his spouse for one year and sixty (60) percent of that amount continued thereafter until the earlier of death or remarriage. �bXAmount. Normal retirement benefits shall be in the amount of two and one-half (21/2) percent of average monthly earnings for each year of continuous service for firefighter members effiployee with more than ten (10) but less than twenty (20) years of continuous service. Normal retirement benefits shall be in the amount of three (3) percent of average monthly earnings for each year of continuous service if a firefighter member att effiplore has attained twenty (20) or more years of continuous service, subject to a maximum of seventy-five (75) percent of average monthly earnings. Provided, however, that in no event shall a firefighter member's total benefit be less 3 Ord No. 10-15 than two (2) percent of avcragc monthly earnings for each year of continuous service. However, firefighter members as of the effective date shall receive at their normal retirement date (age fifty-two (52) regardless of years of service) the greater of the benefit provided by the formula above or fifty (50) percent of average monthly earnings. {�r}(c) T irefiQbterMemberr- Optional F_nhanced 1Vhrltiplier. {�41�_Notwithstanding any provision of the System to the contrary, a firefighter member who is actively employed by the City on March 15, 2004, but who is not participating in the deferred retirement option plan (DROP), may elect a normal retirement benefit in the amount of three and one-half (3.5) percent of average monthly earnings for each year of continuous service if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-scvcn and one-half (87.5) percent of avcragc monthly earnings. Firefighter members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A), and shall receive the enhanced multiplier for all periods of continuous service. An election under this subparagraph must be on or before April 15, 2004. {b}4; Notwithstanding any provision of the System to the contrary, a firefighter member who is actively employed by the City on March 15, 2004, but does not elect the enhanced multiplier in accordance with subparagraph (a), above, and who is not participating in the deferred retirement option plan (DROP), may thereafter elect a normal retirement benefit in the amount of three and one-half(3.5) percent of average monthly earnings for all future continuous service after making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. Firefighter members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A). Such member may also elect to purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by paying the full actuarial cost of the enhanced multiplier, plus the full cost of any actuarial or other professional services required. {�4a�__Notwithstanding any provision of the System to the contrary, a firefighter member who is hired after March 45, 2004 and before April 9, 2013, and who is not participating in the deferred retirement option plan (DROP) may elect a normal retirement benefit in the amount of three and one-half (3.5) percent of average monthly earnings for all future continuous service after making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-scvcn and one-half (87.5) percent of average monthly earnings. Firefighter members electing this enhanced multiplier shall 4 Ord No. 10-15 thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A). Such member may also elect to purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by paying the full actuarial cost of the enhanced multiplier, plus the full cost of any actuarial or other professional services required. Firefighter members hired on or after April 9, 2013 shall not be eligible for the optional enhanced multiplier provided in this paragraph (3). {�44�--The election to receive the enhanced multiplier under this paragraph must be made in writing on a form provided by the City. Such election shall be irrevocable. If an eligible member does not elect an optional enhanced multiplier under this paragraph, or if an eligible member elects the enhanced multiplier for only a portion of his total continuous service, then the benefit provided in paragraph (2) shall be used to calculate the benefit for all continuous service to which the enhanced multiplier does not apply. If an eligible member elects the enhanced multiplier and attains more than ten (10) but less than twenty (20) years of continuous service, the member's benefit shall be determined in accordance with paragraph b {�}, and the member shall receive a refund of all additional contributions and amounts paid for the enhanced multiplier, without interest. In no event shall a member's total benefit be less than two (2) percent of average monthly, earnings for each year of continuous service. { d Upon becoming eligible for normal retirement, a firefighter member shall be one hundred (100) percent vested in his accrued benefit. (2) Normal Retirement Benet-lor Police O()�zcer Members. (a) Duration. Vuniror Benefits. A police officer member retiring on his normal retirement date shall receive a monthly benefit which shall commence on his normal retirement date and be continued thereafter during his lifetime. Upon his death the full retirement benefit shall be continued to his spouse for one gear and sixty (GO.percent of that amount continued thereafter until the earlier of death or remarriage. fib) Amount. Normal retirement benefits shall be in the amount of two and one-half (2'/2) percent of average monthly earnings for each year of continuous service for employ with more than ten (10) but less than twenty (20) years of continuous service. Normal retirement benefits shall be in the amount of three (3) percent of average monthly earnings for each year of continuous service if a police officer member has attained twenty (20) or more years of continuous service, subject to a maximum of seven -five (75) Qercent of average monthly earnings. Provided, however, that in no event shall a police officer member's total benefit be less than two (2) percent of average monthly earnings for each vear of continuous service. However, police officer members employed on PATE] shall receive at their normal retirement date the greater of the benefit provided by the formula above or fifty (50) percent of average monthly earnings. (c) Police O4ce Members- Optional Enhanced Multiplier. 5 Ord No. 10-15 (1) Notwithstanding anv provision of subsection W)(2)(b) to the contrar3T, as police officer member who is actively employ the City on March 15, 2004, but who is not Participating in the deferred retirement option Plan (DROP), may elect a normal retirement benefit in the amount of three and one-half (3.5)percent of average monthly carnings for each year of continuous service if the member attains twent T 20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. Police officer members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(A), until [DATE], and shall receive the enhanced multiplier for all Periods of continuous service. An election under this subparagraph must be on or before April 15, 2004. (2) Notwithstanding anv provision of subsection (L3) 2)(b) to the contrary, as police officer member who is actively employed by the City on March 15, 2004, but does not elect the enhanced multiplier in accordance with subparagraph (a), above, and who is not participating in the deferred retirement option plan (DROP), may, thereafter elect a normal retirement benefit in the amount of three and one-half (3.5)percent of average monthly earnings for all future continuous service after making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. Police officer members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(j� until [DATE]. Such member may also elect to purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by Paying the full actuarial cost of the enhanced multiplier,12lus the full cost of any actuarial or other Professional services required. (3) Notwithstanding aniprovision of subsection (B)(2)(b) to the contrary, a police officer member who is hired after March 15, 2004 and before April 9, 2013, and who is not Participating in the deferred retirement option Plan ROP) ma erg a normal retirement benefit in the amount of three and one-half (3.5)percent of average monthly earnings for future continuous service after making such election if the member attains twenty (20) or more years of continuous service, subject to a maximum of eighty-seven and one-half (87.5) percent of average monthly earnings. Police officer members electing this enhanced multiplier shall thereafter contribute three (3) percent of earnings to the Trust Fund in addition to the member contribution specified in Section 33.64(,A), through [DATE]. Such member may also elect to Purchase the enhanced multiplier for some or all periods of continuous service prior to the date of the election, by paying the full actuarial cost of the enhanced mulWhcr,l2lus the full cost of any actuarial or other professional services required. Police officer members hired on or after 6 Ord No. 10-15 April 9, 2013 shall not be eligible for the optional enhanced multiplier provided in this paragraph (3). (4) If an eligible member elects the enhanced multiplier and attains more than ten (10) but less than twentL(20) years of continuous service, the member's benefit shall be determined in accordance with subsection (L3)Q(b), and the member shall receive a refund of all additional contributions and amounts paid for the enhanced multiplier, without interest. In no event shall a member's total benefit be less than two (2) percent of average monthly earnings for each year of continuous service. (d) Normal Retirement Benefit_�br Police O fcer Alembers F_fectire [DATF,1 (1) Notwithstanding any other provision of this section 33.62, the normal retirement benefit for police officer members employed on PATE], and police officer members hired after I-DATE] shall be determined in accordance with this subparagraph (d). (2) The normal retirement benefit for police officer members with twenty20) or more wars of continuous service on ]DATE] shall be determined in accordance with paragraphs (band (cabove. (3) The normal retirement benefit for police officer members who are employed and have less than twent)� (20) years of continuous service on [DATE.] shall be shall be determined in accordance with paragrapher and (c) above for continuous service through [DATE], and three (3)12ercent of average monthly earnings for continuous service after [DATE], subject to a maximum annual starting benefit of$108,000. (4) The normal retirement benefit for police officer members hired after I-DATEI shall be two and three-fourths (2.75)percent of average monthly earnings for each year of continuous service, subject to a maximum annual starting benefit of $108,000 and further subject to a maximum benefit of sixty-eight and three- fourths (68.75)12ercent of average monthly earnings. (e) Upon becoming eligible for normal retirement, a police officer member shall be one hundred 100) percent vested in his accrued benefit. (C) F_arly Retirement Date. On or after December 31, 1999, a police officer member hired on or before IDATEI, or a firefighter member may retire on or after the early retirement date, which shall be the first day of any month coincident with or next following the attainment of age fifty (50) and the completion of ten (10) years of continuous service. Early retirement is retirement from active employment with the City on or after the early retirement date and prior to the normal retirement date. A police officer member hired after IDATEI shall not be eligible for early retirement. (D) Early Retirement Benefit The amount of the early retirement benefit shall be determined in the same manner as the normal retirement benefit, except that continuous service and average final compensation shall be determined as of the early, retirement date. The benefit payable shall be 7 Ord No. 10-15 reduced by three (3) percent for each year by which the commencement of benefits precedes the normal retirement date. The early retirement benefit provided in this subsection (D) shall have no application to the early retirement incentive provided in Section 33.687. Section 4. Code Amended. That Section 33.64 "Contributions" of the City Code is hereby amended to read as follows: Sec. 33.64. - CONTRIBUTIONS. (A) Member Contrilwlions. (1) Effective the first pay period after September 1, 1999, members of the retirement system shall make regular contributions to the Trust Fund at a rate equal to three (3) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the earnings before the same arc paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. (2) Effective the first pay period starting after May 3, 2011, members of the retirement system employed as firefighters shall make regular contributions to the Trust Fund at a rate equal to six (6) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the carvings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. (3) Effective the first pay period starting after October 4, 2011, members of the retirement system employed as police officers shall make regular contributions to the Trust Fund at a rate equal to six (6) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. (4) Notwithstanding any other provision of this section 34.64, members of the retirement system hired on or after April 9, 2013 shall make regular contributions to the Trust Fund at a rate equal to nine (9) percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid, until the member has completed twenty-five (25) years of continuous service at which time member contributions are no longer required. (5) Notwithstanding any other provision of this section 34.64, ipolice officer members employed on JDATEI shall make regular contributions to the Trust Fund at a rate equal to nine (91 8 Ord No. 10-15 percent of their respective annual earnings. Eligible employees, as a condition of membership, shall agree in writing upon becoming a member to make the contribution specified herein. These contributions shall be deducted from the earnings before the same are paid; until the member has earned the maximum normal retirement benefit payable under the S, s 4Q The City shall pick up the member contribution required by subsections (A)(1), (A)(2), (A)(3) and (A)(4) above. The contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code. The City shall pick up the member contributions from funds established and available in the salaries account, which funds would have otherwise been designated as member contributions and paid to the pension fund. Member contributions picked up by the City pursuant to this subdivision shall be treated for purposes of making a refund of member contributions, and for all other purposes of this and other laws, in the same manner and to the same extent as member contributions made prior to the effective date of this subdivision. The intent of this subdivision is to comply with Section 414(h)(2) of the Internal Revenue Code. No employee shall have the option of choosing to receive the contributed amounts directly instead of having them paid by the City to the System. Section 5. Code Amended. That Section 33.689 "Retirement Benefit Enhancement" of the City Code is hereby amended to read as follows: Sec. 33.689. - RETIREMENT BENEFIT ENHANCEMENT. (A) Effective October 1, 1994, the benefits paid to eligible retirees or their beneficiaries shall be adjusted as provided in this Section. For the purpose of this Section, "eligible retirees" are members who retired or terminated employment after September 30, 1993, and whose date of lire as a City Police Officer or Firefighter was twenty-five (25) or more years prior to the benefit adjustment date. The benefits payable under the system to all eligible retirees or their beneficiaries shall be based on the amount of insurance premium tax revenues received by the City for the preceding plan year pursuant to chapters 175 and 185, Florida Statutes. A minimum benefit increase of one percent per year will be provided, regardless of the amount of premium tax revenues received by the City. (B) Vir jighter retirees. To the extent total annual premium tax revenues received pursuant to Chapter 175, Florida Statutes, exceed one hundred ninety seven thousand nine hundred ninety-five dollars ($197,995.00), the annual one percent minimum adjustment for firefighter retirees will be increased in increments of one-tenth of one percent, based on the actuary's determination that the amount of the excess premium tax revenues is sufficient to fund the benefit increase on an actuarially sound basis. The maximum amount of the total annual benefit increase shall not exceed four (4) percent,regardless of the amount of premium tax revenues received by the City. (C) Police officer retirees. To the extent annual premium tax revenues received pursuant to Chapter 185, Florida Statutes, exceed three hundred six thousand nine hundred twenty-seven dollars ($306,927.00) and arc less than four hundred forty-six thousand four hundred seven dollars ($446,407.00), the annual one percent minimum adjustment for police officer retirees will be 9 Ord No. 10-15 increased in increments of one-tenth of one percent, based on the actuary's determination that the amount of such premium tax revenues is sufficient to fund the benefit increase on an actuarially sound basis. The maximum amount of the total annual benefit increase shall not exceed four (4) percent, regardless of the amount of premium tax revenues received by the City. Annual premium tax revenues received pursuant to Chapter 185, Florida Statutes, in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00) shall be used to provide for the inclusion of overtime compensation, up to a maximum of three hundred hours per year, that the actuary for the plan determines may be funded on an actuarially sound basis entirely with annual Chapter 185 premium tax revenues in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00). When the actuary for the plan determines that adequate premium tax revenues received pursuant to Chapter 185 in excess of four hundred forty-six thousand four hundred seven dollars ($446,407.00) annually have been allocated to fully fund on an actuarially sound basis the inclusion of three hundred hours of overtime compensation annually in the earnings of active police officers who are not participating in the Deferred Retirement Option Plan, then all future additional premium tax revenues shall be used to provide the annual benefit adjustment for police officer retirees. (D) The annual benefit adjustment provided under this Section shall be compounded annually (i.e. the increase shall be based on the benefits received by plan members and beneficiaries at the end of the preceding plan year). The benefits payable under the system to all eligible retirees or their beneficiaries shall be adjusted annually on the anniversary of the retiree's first benefit payment. Disability retirees and their beneficiaries are not eligible to receive the retirement benefit enhancement. lel Notwithstanding any other provision of this section 33.689, effective [DATE] no further benefit enhancement or benefit adjustment shall be paid to police officer retirees, other than the one percent per year benefit increase provided in subsection (A) above. Section 6. Severability. The provisions of this Ordinance are declared to be severable and if any section, sentence, clause or phrase of this Ordinance shall for any reason be held to be invalid or unconstitutional, such decision shall not affect the validity of the remaining sections, sentences, clauses, and phrases of this Ordinance but they shall remain in effect, it being the legislative intent that this Ordinance shall stand notwithstanding the invalidity of any part. Section 7. Inclusion in the Code. It is the intention of the City Commission, and it is hereby ordained that this Ordinance shall become and be made a part of the City of Delray Beach City Code; that the sections of this Ordinance may be renumbered or relettered to accomplish such intention; and that the word"Ordinance" shall be changed to "Section" or other appropriate word. Section 8. Effective Date. That this Ordinance shall be effective immediately upon its passage on second and final reading. 10 Ord No. 10-15 PASSED AND ADOPTED in regular session on second and final reading on this the day of 2015. Attest: MAYOR City Clerk First Reading Second Reading 11 Ord No. 10-15 Page 1 of 2 MEMORANDUM TO: Mayor and City Commissioners FROM: Noel Pfeffer, City Attorney DATE: March 13, 2015 SUBJECT: AGENDA ITEM 11.A.-MEETING OF MARCH 31,201 ORDINANCE NO. 10-15 (FIRST READING) BACKGROUND On December 22, 2014, the City Commission approved the Collective Bargaining Agreement (CBA) between the City of Delray Beach and the Palm Beach County Police Benevolent Association, Inc. (PBA) for the Police Officers and Sergeants. The term of the CBA is for a three year period ending September 30, 2017. As a result of the new labor agreement, existing provisions of Chapter 33 "Pensions" of the City Code of Ordinances (Code) need to be amended to conform the Code to the terms of the CBA. Attached, are proposed amendments to the pension ordinance which have been prepared by the City Attorney and Jim Linn, the City's special pension counsel. The proposed revisions have also been reviewed by the Human Resources Division. Additional amendments will be required to be made to the City pension ordinances at a later time regarding the agreed upon changes to the composition of the pension board, withdrawal from participation in Chapter 185, and use of Chapter 185 premium tax money. These ordinance amendments are being deferred until the conclusion of negotiations with the police lieutenants and firefighters so that a comprehensive revision consistent with all state law requirements can be drafted. By way of background, the amendments in this Ordinance are intended to implement the agreed upon pension plan revisions described below: PBA Summary of Tentative Agreed Pension Provisions Member Grouping Criteria Provisions Group 11 active members with 20+ Tier 1 years of service and all retired No change in pension benefits and terminated members . Multiplier reduced from 3.5%to 3% for all future service, all retirement benefits http://itwebapo NovusA�4enda/Preview.aspx?ItemID=8968&Meetin2ID=548 4/7/2015 Page 2 of 2 determined using the final average compensation as of the retirement/termination date. . Starting benefit limited to $108,000 per year 11 Active members with at least . Employees that reach 20 years of service will Tier 2 10 but less than 20 years of retain the 3.5% multiplier for all years of service service prior to the Plan change. . Compensation includes 25 hours of overtime. . Participants remain eligible for DROP . COLA of not less than 1%will continue to be applied annually. . Multiplier reduced from 3.5%to 3% for all future service, all retirement benefits determined using the final average compensation as of the retirement termination date. 11 current active members not • Compensation excludes any overtime earned Tier 3 vested at the time of Plan change after the Plan change e COLA of not less than 1%will continue to be applied annually. . Participants remain eligible for DROP . Change average final compensation from 3 ears to 5 out of last 10. . Starting benefit limited to $108,000 per year . All benefits accrue at 2.75% multiplier. . Benefit limited to 68.75% of final average compensation. . Normal Retirement changed to the later of age Tier 4 embers hired after the Plan 55 or 25 years of service change • Eliminated Early Retirement . Compensation excludes any overtime. . Change average final compensation from 3 ears to 5 out of last 10. . Starting benefit limited to $108,000 per year LEGAL DEPARTMENT REVIEW Approved as to form and legal sufficiency. RECOMMENDATION Approve on first reading Ordinance No. 10-15 amending Chapter 33 of the Code of Ordinances to conform the Code to the terms of the new Collective Bargaining Agreement. http://itwebapo NovusA�4enda/Preview.aspx?ItemID=8968&Meetin2ID=548 4/7/2015 SOUTH FLOMDA SUNSEN TINEL p SUNSET TINEL.COM Friday, Jute 26, 2015 cilY OF OELRAY BeA.CH,,FLO91DA:: NOTICE Or PUBLIC HEARING A PUBLIC HEARM Will be held on the following proposed ordlnahce bn TUE5- DAY,"JULY 7,2015`.at 7.00 O.M.or.at anY'.;,'.. contin.uatioh ofsucn meeting wh€ch is. set bythe Comhlissfan),in the Comm#s sion_chambers laa N Vq 15tFG19n[le, Delray Heach,Honda;at Wh[dh time the City Commission will cohsider€ts adop tion.The proposed Ordnance.may be in at the efflee of the;C€ty Clerk .' atcity Hall,100N.N!15tAv0nue Delray B.eacFi Florida;between'80(a m and 5:OO:p.m MondaythrouglFridap,except:. holidays. Interestod parties:are invited to attehd and be heard with respect td the proposed ordinance ORDINANCE N0.1(15 ANORDINANCEAMS N61NGTHt.CODE ... OF.Q$DINANCE9.OF THE CITY.OF DELRAY BEACH FLORIDA;_BYAMENJDIN.GCHAP TER 33"POLICE AICD FIRE RESCUE.DE-.... P.�RTIViENTS ATTITLE 3"PEN5161V5"BY AMENDING SECTfON 33.6(,DEFINITIONS _ AMENDING SECT16N 33.62;BFNEFIT.. . AMOUNTS ANDELIGIRILITY'AMENDING SECTION336a9;::Rt1 PPEMENT:tiENEFIT :- ENHANCEMENT;PROVIDINGFOR$E.VEft` ASIUWY PROVIDING FOR INCLUSION IN THE CODE,AND PROVIDING FORAN EF-: [FECTIVE DATE. Please be advised that IT a person decides toappealany decision made by the City commission with respect to any matter considered atthis:nearing,such person may need to enswe thata verbatim re- cord include$the,tesfImony and evidence dp6h;wh€ch the appeal isnty 6e;oasad The City does not prov€de Aor prepare such�tecord pUt$Oant to FSi296 0105. `. CITY OF DELRAY BEACH .. '.'. .... Cheveile D.Nubin MMC city Gferk.. Friday;:Jun e:26;.2015 7/24/2015 C oversheet MEMORANDUM TO: Mayor and City Commissioners FROM: Donald B. Cooper, City Manager DATE: June 8, 2015 SUBJECT: AGENDA ITEM 9.A.-REGULAR COMMISSION MEETING OF JULY 7,2015 ORDINANCE NO. 10-1.5 (SECOND READING) BACKGROUND At the March 31, 2015 Regular Commission Meeting, Ordinance No. 10-15 was approved on First Reading. LEGAL DEPARTMENT REVIEW A Public Hearing notice was published on Friday, June 26, 2015 in the Sun Sentinel. DISCUSSION This ordinance is before Commission for second reading to amend Chapter 33, "Police and Fire Rescue Departments", Section 33.60 "Definitions", Section 33.62, "Benefit Amount and Eligibility", and Section 33.689, "Retirement Benefit Enhancement"; to conform the Code to the terms of the new Collective Bargaining Agreement. RECOMMENDATION Recommend approval on second and final reading of Ordinance No. 10-15. http://itwebapp/Agendaintranet/Biuesheet.aspx?ltemID=9275&MeetingiD=571 1/1