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Ord 58-02Rev. 1-3-03 ORDINANCE NO. 58-02 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AMENDING CHAPTER 33, "POLICE AND FIRE DEPARTMENTS", SUBHEADING "PENSIONS", OF THE CODE OF ORDINANCES OF THE CITY OF DEI.RAY BEACH, FLORIDA, BY AMENDING SECTION 33.60, "DEFINITIONS", REVISING THE DEFINITION OF "CONTINUOUS SERVICE" TO PERMIT A FIREFIGHTER WITH AT LEAST FIVE YEARS OF CONTINUOUS SERVICE TO PURCHASE UP TO THREE ADDITIONAL YEARS OF SERVICE FOR PRIOR EMPLOYMENT AS A POLICE OFFICER OR FIREFIGHTER; AMENDING SECTION 33.70, "DIRECT TRANSFERS OF ELIGIBLE ROLl. OVER CONTRIBUTIONS", TO PROVIDE FOR ROLLOVERS OR TRANSFERS INTO THE FUND FOR THE PURCHASE OF CONTINUOUS SERVICE; PROVIDING A REPEALER CLAUSE; PROVIDING A VALIDITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DELRAY BEACH AS FOLLOWS: Section 1. That Chapter 33, "Police and Fire Departments", subheading, "Pensions", of the Code of Ordinances of the City of Delray Beach is hereby amended by amending Section 33.60, "Definitions", to read as follows: Section 33.60 DEFINITIONS. For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning. "ACTUARIAL EQUIVALENCE" or "ACTUARIALLY EQUIVALENT". This term shall mean that any benefit payable under the terms of the pension fund in a form other than the normal retirement pension shall have the same actuarial present value on the date payment commences as the normal retirement pension. For purposes of establishing the actuarial present value of any form of payment, all future payments shall be discounted for interest and mortality by using 7% interest and the 1983 Group Annuity Mortality Table for Males, with ages set ahead five years in the case of disability retirees. "AGREEMENT". The written instrument setting forth the provisions of the retirement system. "AVERAGE MONTHLY EARNINGS". One thirty-sixth of the arithmetical average for the highest consecutive 36-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 24-month period, as calculated prior to the effective date of this ordinance. "BENEFICIARY." The person entitled to receive benefits hereunder at the death of a member who has been designated in writing by the member and filed with the Board of Trustees. If no designation is in effect at the time of death of the member, or if no person so designated is living at that time, the beneficiary shall be the estate of the member. "BOARD." The Board of Trustees which shall administer and manage the system herein provided and serve as Trustee of the Trust Fund. "CONTINUOUS SERVICE." (1) Uninterrupted service by a member (expressed as years and completed months) from the date he last entered employment as an employee until the date his employment is terminated by death, disability, retirement, resignation or discharge. (2) However, the continuous service of any member shall not be deemed to be interrupted by: (a) Any authorized leave of absence or vacation, provided all members similarly situated in similar circumstances shall be treated alike pursuant to uniform, nondiscriminatory rules. No credit for benefit eligibility for computation purposes under the system shall be allowed for any such period of leave of absence. 2 ORD. NO. 58-02 Co) Any service, whether voluntary or involuntary, in the armed forces of the United States, provided the member is legally entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act of 1994 and any amendments thereto, or any law applicable to such reemployment, and provided that a member shall apply for reemployment within three months following termination of such service, or as otherwise allowed by the Uniformed Services Employment and Reemployment Rights Act of 1994, and any amendments thereto. Nothing aforementioned shall serve to reduce the accrued accredited services of the members on the effective date of the plan. (3) Continuous service shall also include, for reemployed members, those years and completed months for which the reemployed member had withdrawn his contributions to the Trust Fund, where the reemployed member repays into the Fund the contributions he had withdrawn, with interest based upon the plan's annual total rate of return for the pension funds, as computed by the actuaries or the City, for those years and completed months, within 90 days after his reemployment date. A reemployed member may also repay only a portion of the withdrawn funds with interest and receive a like credit for continuous service; however, repayments, whether partial or total, shall only be permitted once within the 90-day limit. (4) For members who are employed by the City. on or after the effective date of this ordinance who have five (5) or more years of continuous service based on City employment, continuous service shah also include up to three (3) years of active service in the U.S. armed forces or full-time employment as a police officer or fire fighter with another governmental entity prior to employment by the City, purchased by the member in accordance with this paragraph; provided the member has not received and will not receive a benefit from another retirement plan based on such prior employment. Such a member may purchase continuous service under the plan, in years and tenths of a year, for all or a portion of the period of their active service in the U.S. armed forces or full-time employment as a police officer or fire fighter with another governmental entity prior to employment by the City, by paying into the plan the full actuarial cost of such continuous service, as determined by the plan actuary. Such payment may be made at any time after employment by the City, and must be made in full prior to entering the DROP or separation from City employment, whichever occurs earlier. In the event full payment is not made prior to such date, the member shall receive only the amount of continuous service, as determined by the actuary, for which the payment made, excluding interest, is the full actuarial cost. In the event a member makes payment for additional continuous service in accordance with this paragraph prior to attaining five years of continuous service based on City employment, and separates from City 3 ORD. NO. 58-02 employment before attaining five years of continuous service based on City employment, such member shall receive a full refxmd of all payments made, plus interest based on the assumed rate of return of the plan. A member purchasing such additional continuous sen, ice must pay the full cost of any actuarial calculations required. Payment for the purchase of continuous service pursuant to this para~aph may be made using any one or a combination of the following options: Cash lump sum payment. Direct transfer or rollover of an eligible rollover distribution from a qualified plan, in accordance with Sec. 33.70. Time payment plan. Under this option the member may dect to pay any remaining balance due for the purchase of continuous service through payroll deduction on a me payment plan over a period of not more than five (5) years, as approved by the Retirement Committee. Interest on such payments shall be paid based on the assumed rate of remm of the plan. Payments deducted from an employee's pay shall b.e designated as employer contributions pursuant to Section 414(h) of the Internal Revenue Code. and "EARNINGS." Basic wages paid to a member, excluding overtime, bonuses any other non-regular payments. "EFFECTIVE DATE." April 22, 1974. "EMPLOYI3..E." All employees of the City classified as full-time sworn police officers, as defined on the effective date in F.S. Sec. 185.02, or classified as police officers in training, or classified as volunteer or regular full-time firefighters, as defined on the effective date in F.S. Sec. 175.032, but shall exclude all civilian members of the Police and Fire Departments, and the Police Chief and Fire Chief upon their written election not to participate in the system. "FUND." The Trust Fund established herein as part of the system. "MEMBER." An employee who fulfills the prescribed participation requirements. "SPOUSE." The lawful wife or husband of a member at time of retirement and death. "SYSTEM." The City Police and Firefighters Retirement System as contained herein and all amendments thereto. 4 ORD. NO. 58-02 Section 2 That Chapter 33, "Police and Fire DeparLments", subheading, "Pensions", of the Code of Ordinances of the City of Delray Beach is hereby amended by amending Section 33.70, "Direct Transfers of Eligible Rollover Contributions", to read as follows: Section 33.70 DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS (A) General. This section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the system to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, at the time and in the manner prescribed by the Board, to have any portion of an eligible rollover paid directly to an eligible retirement plan specified by the distributee in a direct roliover. 03) Definitions. (1) Eligi~'ble rollover distribution. An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten (10) years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and the portion of any distribution that is not includable in gross income. (2) Eligfi'ble retirement plan. An eligible retirement plan is an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 408C0) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, or a qualified trust described in section 401(a) of the Internal Revenue Code, an eli~ble deferred compensation plan described in section 457(b) of the Internal Revenue Code which is maintained by an eli~ble employer described in section 457(e)(1)(A) of the Internal Revenue Code, or an annuity contract described in section 403(b) of the Internal Revenue Code, that accepts the distributee's eligible rollover distribution. (3) Distributee. A distributee includes an employee or former employee. In addition, the employee's or former employee's surviving spouse is a distributee with regard to the interest of the spouse. 5 ORD. NO. 58-02 (4) Direct rollover. A direct rollover is a payment by the plan to the eligible retirement plan specified by the disuibutee. (C) Rollovers or Transfers into the Fund. On or after the effective date of this ordinance, the fund will accept member roliover cash contributions and/or direct cash rollovers of distributions for the purchase of continuous service as authorized under the plan, as follows: the fund will accept either a direct rollover of an eligible rollover distribution or a member contribution of an eligible rollover distribution from a qualified plan described in section 403(a) of the Internal Revenue Code, from an annuity contract described in section 403(b) of the Internal Revenue Code, or from an eligi~'ble plan under section 457(b) of the Internal Revenue Code, which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state. Section 3 That all ordinances or parts of ordinances in conflict herewith be, and the same are hereby repealed. Section 4 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 operate to invalidate the remainder hereof. Section 5 That this ordinance shall become effective immediately upon its passage on second and final reading. the 7 PAS~I~D A.ND .ADOPTED in regular session on second and final reading on this . day of 5gl/tl/2O.J/.q~ ,200~ MAYOR City Clerk First Reading Second Rea&g · 6 ORD. NO. 58-02 Helping Shape Florida's Future® ATTORNEYS LONGMAN AT LAW &WALK[R, PA REPLY To: TALLAXO~S~. Eric Ash Krisfln Bennett W. O. Birehfield Jody Lane Brooks Wffiiam G. Capko Beth Ann Carlson Michelle Diffenderfer Robert P. Diffenderfer Kenneth W. Dodge Amy M. Dukes Brenna Malouf Durden Laura Jacobs Feagin Roslynn M. Ferguson Wayne E. Flowers John W. Forehand Walter E. Forehand Meliasa Gross-Arnold Kevin S. Hennessy R. Steven Lewis Terry E. Lewis James W. Linn Anne Longman G. Stephen Manning David E. Ramba Kenneth G. Spillias Edwin A. Steiumeyer Glenn E. Thomas Stephen A. Walker www.llw-law.com $~cksonv///e Office 9428 Baymeadows Road Suite 625 Jacksonville, Florida 322S6 {904) 737-2o2o Faz: (904) Tallahassee Office Post Office Box 10788 (32302) 125 South Gadsden Street Suite 300 Tallahassee, Florida 32301 (850) 222-S?02 Fax: (850) 224-9242 West PMm Beach Oj~ce 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 ¢60 64o-o~o Fax: (~61) 640-8202 MEMORANDUM TO: Susan Ruby, City Attorney City of Dclray Beach FROM: Jim Linn and Glenn Thomas DATE: January 7, 2003 Ordinances Amending the Police Officers' and Firefightcrs' Retirement Plan This responds to thc comments made at the police/fire pension board meeting of December 18, 2002 concerning proposed ordinances 58-02 and 59-02, as summarized in Terrill Pybum's December 20 memo. Our response to each comment follows: 1. Some board members apparently took issue with the applicability of the prior service/military service purchase option contained in Section 1 of Ordinance 58-02. As the ordinance was originally drafted, the purchase option applied to members initially employed by the City on or at~er the effective date of the ordinance, and not to current employees. However, the City subsequently determined that the purchase option should apply to all current and future employees who arc members of the plan. Accordingly, we have revised Section 1 of the ordinance to delete the word "initially." As revised, thc prior service/military service purchase option applies to all plan members who arc in the City's employ on the effective date of the ordinance, as well as all future members. 2. Board members apparently expressed some uncertainty over the refund mechanism contained in the prior service/military service purchase option in Section 1 of Ordinance 58-02. Thc ordinance provides for a refund of payments made by members who terminate City employment prior to attaining five years of service with the City. Thc point was made that eligibility for the buy-back could simply be delayed until the member has reached the five-year mark, thus eliminating thc need for refunds. However, thc rationale for allowing members to pay for additional service prior to attaining five years of continuous service is to permit a member to usc contributions refunded from another pension plan to purchase additional service under the City plan, without January 7, 2003 Page 2 incurring interest charges. We recommend retaining the refund provision as it appears in Section 1 of Ordinance 58-02. 3. Board members apparently expressed concern that passage of Ordinances 58-02 and 59- 02 would result in two different subsections numbered (4), under Section 33.60 (Definitions), which could cancel each other out. We have revised the directory language of Ordinance 59-02 to ensure that this does not happen. 4. Board members questioned the provision in Section 2 of Ordinance 59-02, which provides for additional payment from the member, if necessary, to pay the full actuarial cost of the benefit. However, the Division of Retirement has indicated that the benefit based on prior service as a general employee contained in Section 2 of the ordinance does not comply with the Division's interpretation of Chapters 175 and 185, Florida Statutes. Accordingly, we recommend that the ordinance be revised to eliminate Sections 2 and 3, which will also eliminate the basis for the board's concern. There are may be other ways to provide a benefit based on the prior service of police officers and firefighters as general employees, which can be considered in the future. Please call us if you have any questions concerning these matters. Helping Shape Florida's Future* ATTORNEYS LONGMAN AT LAW &WALKER, PA REPLY TO: T~ASS~ Erie Ash Krisfln Bennett W. O. Birehfield Jody Lane Brooks William G. Capko Beth Ann Carlson Michelle Diffenderfer Robert P. Diffenderfer Kenneth W. Dodge Amy M. Dukes Brenna Malouf Durden Laura Jacobs Feagin Roslynn M. Ferguson Wayne E. Flowers John W. Forehand Walter E. Forehand Melissa Gross-Arnold Kevin S. Hennessy R. Steven Lewis Terry E. Lewis James W. Linn Anne Longman G. Stephen Manning David E. Ramba Kenneth G. Spillias Edwin A. Steinmeyer Glenn E. Thomas Stephen A. Walker www.llw-law.com TO: FROM: DATE: RE: Susan Ruby, City Attorney City of Delray Beach Jim Linn January 7, 2003 Ordinance 58-02 - Meaning of"Active Service" You have asked that we respond to a question that has been raised about the meaning of the phrase "active service" in Section 1 of Ordinance 58-02. This ordinance allows members of the police/fire pension plan with five or more years of service under the plan to purchase up to three years of additional service credit for time spent in "active service" in the U.S. armed forces, or prior service as a police officer or firefighter in another jurisdiction. The term "active service" is defined at 10 United States Code section 101(d) as service on active duty in the U.S. armed forces or full-time National Guard duty. "Active duty" is defined as full-time duty in the active military service of the United States, and includes training duty while in active military service. Please call me if you have further questions concerning this term. Joc~on~llle O~O~ce 94~ Baymeadows Road Suite 625 Jacksonville, Florida 31256 (9O4) ?Y/-2020 Fax: (904) '37-3221 T~!!ahassee O.O~ce Post Offlee Box 10788 02302) 125 South Gadsden Street Suite ~ Tallahasaee, Florida 32301 (SSO) 222-S702 Fa-,: (8.q0) 224-9242 Wes~ P~0n Bench O.0/ee 1700 Palm Beach Lakes Boulevard, Suite West Palm Beach, Florida 33401 ¢s61) 640-0~0 Fax: (561) 640-8202 Helping Shape Florida's Future® Eric Ash Kristin Bennett W. O. Birchfield Jody Lane Brooks William G. Capko Beth Ann Carlson Michelle Diffenderfer Robert P. Diffendcrfer Kenneth W. Dodge Amy M. Dukes Brenna Malouf Dorden Laura Jacobs Feagin Roslynn M. Ferguson Wayne E. Flowers John W. Forehand Walter E. Forehand Melissa Gross-Arnold Kevin S. Hennessy R. Sleven Lewis Terry' E. Lewis James W. Linn Anne l.ongman G. Stephen Manning David E. Ramba Kenneth G. Spillias Edwin A. Steinmeyer Glenn E. Thomas Stephen A. Walker www.llw-law.com Jac~som, ille Office 9428 Baymeadows Road Suite 625 Jacksonville, Florida 32256 (904) 737-2020 Fax: (904) 737-3221 Tallahassee Office Post Office Box 10788 (32302) 125 South Gadsden Street Suite 300 Tallahassee, Florida 32301 (850) 222-5702 Fax: (850) 224-9242 West Palm Beach Office 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 (561) 640-0820 Fax: (561} 640-8202 LEWIS, LONGMAN -WALKER, P.A. ATTORNEYS AT LAW RECEIVED JAN 3 - 2003 CITY MANAGER MEMORANDUM REPLY TO: TALLAHASSEE TO: Susan Ruby, City Attorney City of Delray Beach FROM: Jim Linn and Glenn Thomas DATE: January 3, 2003 Ordinances Amending the Police Officers' and Firefighters' Retirement Plan This responds to the comments made at the police/fire pension board meeting of December 18, 2002 concerning proposed ordinances 58-02 and 59-02, as summarized in Terrill Pybum's December 20 memo. Our response to each comment follows: 1. Some board members apparently took issue with the applicability of the prior service/military service purchase option contained in Section 1 of Ordinance 58-02. The purchase option applies to members who are initially employed by the City on or after the effective date of the ordinance, and not to current employees. This reflects the City's intent that the buy-back provision be used as a recruiting tool for attracting qualified police officers and firefighters to the City. We recommend retaining this provision as it appears in Section 1 of ordinance 58-02. 2. Board members apparently expressed some uncertainty over the refund mechanism contained in the prior service/military service purchase option in Section 1 of Ordinance 58-02. The ordinance provides for a refund of payments made by members who terminate City employment prior to attaining five years of service with the City. The point was made that eligibility for the buy-back could simply be delayed until the member has reached the five-year mark, thus eliminating the need for refunds. However, the rationale for allowing members to pay for additional service prior to attaining five years of continuous service is to permit a member to use contributions refunded from another pension plan to purchase additional service under the City plan, without incurring interest charges. We recommend retaining the refund provision as it appears in Section 1 of Ordinance 58-02. loc January 3, 2003 Page 2 3. Board members apparently expressed concern that passage of Ordinances 58-02 and 59- 02 would result in two different subsections numbered (4), under Section 33.60 (Definitions), which could cancel each other out. We have revised the directory language of Ordinance 59-02 to ensure that this does not happen. 4. Board members questioned the provision in Section 2 of Ordinance 59-02, which provides for additional payment from the member, if necessary, to pay the full actuarial cost of the benefit. However, the Division of Retirement has indicated that the benefit based on prior service as a general employee contained in Section 2 of the ordinance does not comply with the Division's interpretation of Chapters 175 and 185, Florida Statutes. Accordingly, we recommend that the ordinance be revised to eliminate Sections 2 and 3, which will also eliminate the basis for the board's concern. There are may be other ways to provide a benefit based on the prior service of police officers and firefighters as general employees, which can be considered in the future. Please call us if you have any questions concerning these matters. Harden, David Page 1 of 1 From: Weaver, Jo Sent: Friday, January 03, 2003 11:21 AM To: Harden, David Cc: Nubin, Chevelle Subject: Police & Fire Pension Ord. No. 58-02 Attached is the ordinance revised by ,Tim Linn which now covers current and previous employees as to their prior militam/service. ~[t was accomplished by deleting the word "initially" in front of the word "employed". Please call me if you have any questions. Susan Ruby x709! 1/3/2003 Rev. 1-3-03 ORDINANCE NO. 58-02 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF DELRAY BEACH, FLORIDA, AMENDING CHAPTER 33, "POLICE AND FIRE DEPARTMENTS", SUBHEADING "PENSIONS", OF THE CODE OF ORDINANCES OF THE CITY OF DELRAY BEACH, FLORIDA, BY AMENDING SECTION 33.60, "DEFINITIONS", REVISING THE DEFINITION OF "CONTINUOUS SERVICE" TO PERMIT A FIREFIGHTER WITH AT LEAST FIVE YEARS OF CONTINUOUS SERVICE TO PURCHASE UP TO THREE ADDITIONAL YEARS OF SERVICE FOR PRIOR EMPLOYMENT AS A POLICE OFFICER OR FIREFIGHTER; AMENDING SECTION 33.70, "DIRECT TRANSFERS OF ELIGIBLE ROLLOVER CONTRIBUTIONS", TO PROVIDE FOR ROI.I.OVERS OR TRANSFERS INTO THE FUND FOR THE PURCHASE OF CONTINUOUS SERVICE; PROVIDING A REPEALER CLAUSE; PROVIDING A VALIDITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF DF. LRAY BEACH AS FOLLOWS: Section 1. That Chapter 33, "Police and Fire Depasunents", subheading, "Pensions", of the Code of Ordinances of the City of Delray Beach is hereby amended by amending Section 33.60, "Definitions", to read as follows: Section 33.60 DEFINITIONS. For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning. "ACTUARIAL EQUWALENCE" or "ACTUARIALLY EQUIVALENT". This term shall mean that any benefit payable under the terms of the pension fund in a form other than the normal retirement pension shall have the same actuarial present value on the date payment commences as the normal retirement pension. For purposes of establishing the actuarial present value of any form of payment, all future payments shall be discounted for interest and mortality by using 7% interest and the 1983 Group Annuity Mortality Table for Males, with ages set ahead five years in the case of disability retirees. "AGREEMENT". The written instrument setting forth the provisions of the retirement system. "AVERAGE MONTHLY EARNINGS". One thirty-sixth of the arithmetical average for the highest consecutive 36-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 24-month period, as calculated prior to the effective date of this ordinance. "BENEFICIARY." The person entitled to receive benefits hereunder at the death of a member who has been designated in writing by the member and filed with the Board of Trustees. If no designation is in effect at the time of death of the member, or if no person so designated is living at that time, the beneficiary shall be the estate of the member. "BOARD." The Board of Trustees which shall administer and manage the system herein provided and serve as Trustee of the Trust Fund. "CONTINUOUS SERVICE." (1) Uninterrupted service by a member (expressed as years and completed months) from the date he last entered employment as an employee until the date his employment is terminated by death, disability, retirement, resignation or discharge. (2) However, the continuous service of any member shall not be deemed to be interrupted by: (a) Any authorized leave of absence or vacation, provided all members similarly situated in similar circumstances shall be treated alike pursuant to uniform, nondiscm-ninatory rules. No credit for benefit eligibility for computation purposes under the system shall be allowed for any such period of leave of absence. 2 ORD. NO. 58-02 (b) Any sen, ice, whether voluntary or involuntary, in the armed forces of the United States, provided the member is legally entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act of 1994 and any amendments thereto, or any law applicable to such reemployment, and provided that a member shall apply for reemployment within three months following termination of such service, or as otherwise allowed by the Uniformed Services Employment and Reemployment Rights Act of 1994, and any amendments thereto. Nothing aforementioned shall serve to reduce the accrued accredited services of the members on the effective date of the plan. (3) Continuous service shall also include, for reemployed members, those years and completed months for which the reemployed member had withdrawn his contributions to the Trust Fund, where the reemployed member repays into the Fund the contributions he had withdrawn, with interest based upon the plan's annual total rate of remm for the pension funds, as computed by the actuaries or the City, for those years and completed months, within 90 days after his reemployment date. A reemployed member may also repay only a portion of the withdrawn funds with interest and receive a like credit for continuous service; however, repayments, whether partial or total, shall only be permitted once within the 90-day limit. (4) For members who are employed by the City on or after the effective date of this ordinance who have five (5) or more years of continuous service based on City employment, continuous service shall also include up to three (3) years of active service in the U.S. armed forces or full-time employment as a police officer or firefighter with another governmental entity prior to employment by the City, purchased by the member in accordance with this paragraph; provided the member has not received and will not receive a benefit from another retirement plan based on such prior employment. Such a member may purchase continuous service under the plan, in years and tenths of a year, for all or a portion of the period of their active service in the U.S. armed forces or full-time employment as a police officer or firefighter with another governmental entity prior to employment by the City, by paying into the plan the full actuarial cost of such continuous service, as determined by the plan actuary. Such payment may be made at any time after employment by the City, and must be trade in full prior to entering the DROP or separation from City employment, whichever occurs earlier. In the event full payment is not made prior to such date, the member shall receive only the amount of continuous service, as determined by the actuary, for which the payment made, excluding interest, is the full actuarial cost. In the event a member makes payment for additional continuous service in accordance with this paragraph prior to attaining five years of continuous service based on City employment, and separates from City 3 ORD. NO. 58~02 emplo.vment before attaining five years of continuous service based on City employment, such member shall receive a full refund of all payments made, plus interest based on the assumed rate of return of the plan. A member purchasing such additional continuous service must pay the full cost of any actuarial calculations required. Payment for the purchase of continuous service pursuant to this paragraph may be made using any one or a combination of the following options: Cash lump sum payment. Direct transfer or rollover of an eligible rollover distribution from a qualified plan, in accordance with Sec. 33.70. Time payment plan. Under .this option the member may elect to pay any remaining balance due for the purchase of continuous service through payron deduction on a time payment plan over a period of not more than five (5) years, as approved by the Retirement Committee. Interest on such payments shall be paid based on the assumed rate of return of the plan. Payments deducted from an employee's pay shall be desigo, ated as employer contributions pursuant to Section 414(h) of the Internal Revenue Code. and "EARNINGS." Basic wages paid to a member, excluding overtime, bonuses any other non-regular payments. "EFFECTWE DATE." April 22, 1974. "EMPLOYEE." All employees of the City classified as full-time sworn police officers, as defined on the effective date in F.S. Sec. 185.02, or classified as police officers in training, or classified as volunteer or regular full-time ftrefighters, as defined on the effective date in F.S. Sec. 175.032, but shall exclude all civilian members of the Police and Fire Departments, and the Police Chief and Fire Chief upon their written election not to participate in the system. "FUND." The Trust Fund established herein as part of the system. "MEMBER." An employee who fulfills the prescribed participation requirements. "SPOUSE." The lawful wife or husband of a member at time of retirement and death. "SYSTEM." The City Police and Firefighters Retirement System as contained herein and all amendments thereto. 4 ORD. NO. 58-02 Se¢tion 2 That Chapter 33, "Police and Fire Departments", subheading, "Pensions", of the Code of Ordinances of the City of Delray Beach is hereby amended by amending Section 33.70, "Direct Transfers of Eligible Rollover Contributions", to read as follows: Section 33.70 DIRECT TRANSFERS OF ELIGIBLE ROLLOVER DISTRIBUTIONS (A) General. This section applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the system to the contrary that would otherwise limit a distributee's election under this section, a distributee may elect, at the time and in the manner prescribed by the Board, to have any portion of an eligible rollover paid directly to an eligible retirement plan specified by the distributee in a direct rollover. (B) Definitions. (1) Eligible rollover distribution. An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover chstributaon does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten (10) years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and the portion of any distribution that is not includable in gross income. (2) Eligible retirement plan. An eligible retirement plan is an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 4080>) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, or a qualified trust described in section 401(a) of the Internal Revenue Code, an eligible deferred compensation plan described in section 4570>) of the Internal Revenue Code which is maintained by an eligible employer described in section 457(e)(1)(A) of the Internal Revenue Code, or an annuity, contract described in section 4030>) of the Internal Revenue Code, that accepts the distributee's eligible rollover distribution. (3) Distributee. A distributee includes an employee or former employee. In addition, the employee's or former employee's surviving spouse is a distributee with regard to the interest of the spouse. 5 ORD. NO. 58-02 (4) Direct rollover. A direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee. (C) Rollovers or Transfers into the Fund. On or after the effective date of this ordinance, the fund will accept member rollover cash contributions and/or direct .cash rollovers of .di.'stribufions for the purchase of continuous service as authorized under the plan, as follows: the fund will accept either a direct rollover of an eligible rollover distribution or a member contribution of an eligible rollover distribution from a qualified plan described in section 403(a) of the Internal Revenue Code, from an annuity contract described in section 403(b) of the Internal Revenue Code, or from an e~gible plan under section 457(b) of the Internal Revenue Code, which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state. Section 3 That all ordinances or parts of ordinances in conflict herewith be, and the same are hereby repealed. Section 4 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 operate to invalidate the remainder hereof. Section 5 That this ordinance shall become effective immediately upon its passage on second and final reading. the PASSED AND ADOPTED in regular session on second and final reading on this day of ,2002. MAYOR ATTEST: City Clerk First Reading Second Reading 6 ORD. NO. 58-02 01/06/03 13:03 FAX ~ 011/011 GABRIEL, ROEDER, SMITH & COMPANY Con~ultant~ & Actuaries .301 ~a.~ ! as Olas Bird · Su~to 200 · Ft Laudordal~ FI 33301-22~ · 954 527-1616 ~f~ 954 ~25-~0R3 January 6, 2003 Mr. Charles Slavin, Actuary Bureau of Local Retirement Systems Division of Retirement Cedars ~×ecut~ve Center, Bldg. C 2639 Nodh Monroe Street Tallahassee, Flodda 32399-1.560 Ms. Patricia Shoemaker Bureau of Municipal Police Officers' and Firefighters' Pension Funds Divisfon of Retirement Building B, Room 252 Post Office Box 3010 Tallahassee, Florida 32315-3010 Actuarial Impact S~atement for the Delray Beach Police and Firefighters Rebrement System Dear Sir and Madam' Please review the enclosed ordinance that allows a member of the Plan who has at least five years of continuous service to purchase up to three additional years of credited service for a hke period of previous active military service or full4ime employment as a police officer or hrefightcr with another employer. The proposed ordfnance also technically amends the Plan regarding roffovers and the purchase of service credit using transfers and rollovers from other retirement plans The ordinance provides that the member must pay the full actuarial cost of the addihonal service. In our opinion, this ordinance will have no actuarial impact on the Fund. Respectfully submitted, For the Board of Trustees As Plan Administrator 100 ANNOUNCEMENTS LmiA~ NOTmis k PLIBL~C HEARING ~ ~ ~ on t~e ordmanoes at 7'00 JANUAFIY 7 2003 (or al any c0~nualmn of such meeting Clly Commission O~lanl~ers 100NW ~'~et t~mr aclol~on The m. between ~e hours of 8 00 a.m ~0 $'00 pm Monaay tr~x~ Friday AN ORDINANCE OF 'THE crry MISSION 0Ir THE ~ O~ O[LRA¥ ~,aZ~H FLORIDA AMENDING CHAP- ~ 3,5 'EMPLOYEES POLICIES AND ~NEFIT$ SUBHEADING ~RETIRE- MENT PLAN O~ THE CODE CF 0RDI- ~ULNCES OF THF CITY OF DELRAY BEACH I:LORIDA BY AMENDING SUBSECTION C "CREDITED SER- VICE', OF ~fl~l~l ~ 089 "DERNI- TIO~S ', AND CREATING A NEW SEC- TION 35 0934 TO ALLOW PAPTICI- PAINTS WITH AT LEAST FIV~ YEARS OF CREDh-ED SERVICE TO PUR- CHASE UP TO THREE YEARS OF CREDITED SERVICE BASED ON PRIOR GOVERNMENTAL SERVICE, Pf~N'IDING A GENERAL REPEALER CLAUSE PRDVIDIN('; A VALIDITY C~AUSE AND I=~OVIDING AN ER:EC- TIVE DATE AN ORDINANCE OF THE CITY COM- MISSION CF THE CITY OF DELRAY TER aS 'EM~O'f~S POLICES BENEF~S SUBflEAD~NG -RET~E- MB~ PLAN" CF THF. COOl OF OROf #N~"ES CF THE CITY OF DELRA¥ BEACH FLORIDA. BY AMENDING ~CTION 35 0~lg. 'DEFINITIONS REVISING THE DEFINITION OF "'B~PLDYEF' TO IRCLUDE CERTAIN ~REVIOU~.Y F. XCL~ POSITIONS. MNDING SECTION 35(~3 ri'ED SERVICE FOR FORMER ~MR'LOYEES AND EMPLOYEES Wh~ ~ EX~U[~O FROM CERTAIN PREVIOUSLY EXCLUDED ~MPLO~.S TO ~JRCHA~ CREDIT- AMENDING SECTION S5 "RETIREMENT INCOME, BASIS. AMOUNT, AND PAYMENT'. StJ~SE~- TION (L) 'OIR~CT ~S ELIGIBLE ROLLOVER OI~TRIBU- WHO ~ I;N~'VIOUS LY EXCLUDED FRO~I PART/CIPAT/ON IN TH~ PLAN ELtBtBLE ROLLOV~R DISTRibU- TIONS TO PURCHASE CREOrrEC SERVICE UN~R THE PLAN, PROVID- ING A GERERAL REPEALER CLAUSE, PROVIDING A VALIDITY CLAUSE AND PROVIDING AN EFFECTIVE DATE /iN ORDII~INCE OF THE CITY COM- MISSION OF THE CITY OF DEl-RAY BEACH, FLORIDA AMENDING CHAP- TER 3~ "POLICE AND RRE DEPART OF THE COOE OF ORDINANCES CF THE CITY CF D~LRAY BEACH, FLOR~- DA BY AMENDING SECTION 3360 ~DEFINFrlONS' REVISING THE DEFb NITION OF 'CONTINUOUS SERVICE "TO I~RM~ A FIREFIGHTER WFt~ AT LEAST FIVE YEARS OF CONTINUOUS ~ERVICE TO PURCHASE UP TO THREE ADDITIONAL YEARS CF SER- VICE FOR PRIOR EMPLOYMENT AS A POLICE ORclCER OR FIRERGHTER AMENDII~ SECTION 33 70 "DIRECT TRANS~RS OF ELiGiBLE ROLLDVER COI~Rt~TIONS" TO PROVIDE FOR G0~rlNUOUS SERYJCE PROVIDING A REPEALER CLAUSE PROVIDING VALIDr~ CLAUSE AND PROVIDING AN EFFECTIVE DAl~ AN ORDINANCE OF THE cn'Y MISSION OF THE CITY C~: DELRAY BEACH FLORIDA, AMENDING CI-~P- TER 33 'POLICE AND FIRE DEPART- MENTS ~EADING *PENSioNS, OF THE CODE CF ORDINANCES CF THE CITY OF DELRA¥ BEACH FLORi- DA. BY AMENDING SECTION 33 60 "DBqNITIONS". REViSiNG THE DEFI- NITION OF %'~NTINUOUS SERVICF FOR CERTAIN PURPOSES 'TO INCLUDE PREVIOUS SERVICE ~ (~IERA~ EMPLOYEE CREATING A NEW SECTION 33 ;'1 "COORDINA- TION OF RETIREMENT BENEFITS PROVIDING FOR COORDINATION CF BENEFITS FOR MEMBERS WHO PREVIOUS SER¥1CE AS A GENERA:. EMPLOYEE, ANIENOI'NG SECTION 33 ?O 'OtREC'r TRN~SFERS OF ELI- SIBLE ROLLOVER CONTRIBUTIONS TO PROVIDE FOR ROLLO~ERS OR TRANSFERS INTO THE RJND FOR TIE PURCNASE OF CONTINUOUS ~'RVIC[. PROVIDING A REPEALFR C4.,AUSE PROVIDING A VALIDITY CLALL~ AND PROVIDING AN EF~C- TNE DATE AN ORDt#ANC~ OF THE Crl'Y COM- ~ ~, 'FIRE SAFETY AND EMER- g~ 66 'EMERGENCY MEDICAL TRANSPORTAT'rON FEES", SUBSEC* TtO~ g666tA), TO AOJUST THE FEE SSHEOULE FO~ EMERGENCY MED- ~ TRAN,~:'ORTATION IN ACCOR- DANOE WlT~ THE NATIONAL AMERb CAN ~ SGI'IEDULE, PROVIDING A GENERAL REPEALER P~LAUSE A DATE any mal~ cerm~mld M ~e Imar- ~ to be bared The Cay ~loes not florae nor ff~are su~ record Purau~l Io F S 2860105 POBLISH Rlday Oecemt~r 27 2002 A~ g6~64 MISSION ~ 'THE gtTY OF OELRAY i~H FLORIOA, AMENDING SEC 'TlOfl 4Gg .CF~STREET pARKiNG REGULATIONS suBSECTION 4 6 CJ(E), "(~FI~OI4 OF PAR~,NG SPACES. _AI~D DE~-LOP' WENT REGULATION__!)~T~ Ct~ OF ~y ~CH 10 pROVI~ FOR ~ISEO IN L~U ~ p~KI~ REGU ~Tt~S ~OVIDING A GENE~L RE~ C~E A ~VING ~ AND ~ ~F~ DA~ ~EAG~, RJ:)RIDA, At~NUlN~ '~E CODE OF ORDINANCES OF ~E ~ ~ ~L~Y ~ BY ~ENU- ~ ~R 11% ~ R~LtNG SECTION 111 16, ~1~ -~ IN ~1~ ~DI~ ~t u~ ~ ~S", ~O~ A ~ ~,A~E~ ~