Loading...
HomeMy WebLinkAboutCity of Tamarac Ordinance O-1999-032Temp. Ord. No. 1873 08/24/99 Page 1 CITY OF TAMARAC, FLORIDA ORDINANCE NO.O-99 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA; AMENDING CHAPTER 16, PENSIONS AND RETIREMENT, ARTICLE II DECLARATION OF TRUST AND ARTICLE III PENSION PLAN; PROVIDING FOR THE DELETION OF ALL REFERENCES TO STATE PREMIUM TAX CONTRIBUTIONS, CHAPTERS 175 AND 185 OF THE FLORIDA STATUTES, AND FIREFIGHTERS OR POLICE OFFICERS; PROVIDING FOR THE DELETION OF GENDER SPECIFIC LANGUAGE; PROVIDING FOR THE RESTRUCTURING OF THE BOARD OF TRUSTEES AND ESTABLISHING A QUORUM OF THE BOARD; PROVIDING FOR THE REFERENCING OF THE UNIFORM SERVICES EMPLOYMENT AND REEMPLOYMENT RIGHTS ACT (USERRA) CONCERNING THE CREDITING OF MILITARY SERVICE; PROVIDING FOR THE USE OF AN UPDATED GROUP ANNUITY MORTALITY TABLE; PROVIDING FOR THE CREATION OF A SEPARATE PENSION PLAN FOR FIREFIGHTERS IN COMPLIANCE WITH CHAPTER 175, FLORIDA STATUTES; PROVIDING FOR THE CREATION OF A SEPARATE PENSION PLAN FOR POLICE OFFICERS IN COMPLIANCE WITH CHAPTER 185, FLORIDA STATUTES; PROVIDING FOR A SAVINGS CLAUSE; PROVIDING FOR SEVERABILITY; PROVIDING FOR CODIFICATION AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Florida Legislature adopted amendments to Chapters 175 and 185 of the Florida Statutes that require specific actions as related to Police and Firefighter Pension Trust Funds; and WHEREAS, these amendments to the Florida Statutes require the separation of consolidated Pension Trust Funds; and Temp. Ord. No. 1873 08/24/99 Page 2 WHEREAS, the following amendment separating the City of Tamarac Employees Pension Trust Fund into separate General Employee, Firefighter and Police Officer Pension Trust Funds has been approved by the Board of Trustees of the City of Tamarac Employees Pension Trust Fund; and WHEREAS, the City Commission of the City of Tamarac has deemed it to be in the best interest of the citizens of the City of Tamarac to amend the plan to reflect these changes; and NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: That the foregoing whereas clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Ordinance upon adoption hereof. SECTION 2: That Chapter 16, Article II Declaration of Trust, Division 1. Generally be amended by deleting the 4Aeliam through language as follows: See.16-26. Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Contributions means the payments required of the city and the Sher-ig of Br-ou.,ffird or payments made by or on behalf of participants or their beneficiaries. SECTION 3: That Chapter 16, Article 11 Declaration of Trust, Division 2. Board of Trustees be amended by adding the underlined language as follows: Temp. Ord. No. 1873 08/24/99 Page 3 Sec. 16-42. Effective date. This article and Declaration of Trust shall be in full force and effect as of January 1, 1987. Provided further that all particil2ants who terminated employment with the city and had vested benefits in the pension plan at the time of termination shall be governed by the ordinance or ordinances in effect at the time of employment termination from the city. SECTION 4: That Chapter 16, Article II Declaration of Trust, Division 2. Board of Trustees be amended by deleting the 44ekel; through language and adding the underlined language as follows: Sec.16-56. Members. (a) The plan shall be administered by seN,e3 five (L5) trustees and seN,e3 five (:�5) alternate trustees, as follows: pr�tMS n d o (1) alt$i�F�� 6 , v�x�C�rT �7�' employees' 99 the sity who paAieipate in the plan, (21) One Two (42) trustees and eae two (4-2) alternates shall be elected by the plan participants (52) One (1) trustee and one (1) alternate shall be appointed by the mayor, from members of the City Commission, who mgy also serve as trustee for either the Police Officer lan or the Firefighter plan or both plans. (�3) One (1) trustee and one (1) alternate shall be appointed by the city manager who mU also serve as trustee for either the Police Officer plan or the Firefighter plan or both plans. (74) One (1) trustee and one (1) alternate shall be appointed by the finance director who may also serve as trustee for either the Police Officer plan or the Firefi hter plan or both plans. Temp. Ord. No. 1873 08/24/99 Page 4 (95) The trustees and one--(1) alternates elected by eWleyees milst he plan participants, ••'-~ ~~~ were must be or have been members of the wee gFGHP _„h iyh 6410foa tho„-, plan. (P3) The mayor, city manager and finance director may appoint themselves as trustees or alternates. Should they mayor appoint another person, as trustee or alternate that person must, at all times while serving as a trustee or alternate, be as a member of the city commissionef. Should they c� manager or finance_ director appoint another person, as _trustee or alternate, that person must, at all times while serving as a trustee or alternate, be an employee; (4-97) Alternate trustees shall, in the absence of the regularly appointed trustees, have all of the powers of trustees. (c) Elected trustees shall serve three-year terms, unless the trustee sooner leaves employment of the city . The city clerk shall conduct the elections by secret ballot a....:ag April ~r- May prior to the expiration of a trustee's term. , f rr~,,,ing ... !rrr:r�!strs�:e!�: �res�iirz�z�zsrr- . ------- .•• . . .�. (d) A vacancy shall occur whenever a trustee resigns, is removed by the appointing official, is no longer eligible or qualified to serve as a trustee, dies or becomes incapacitated. The vacancy in the office of an appointed trustee shall be filled by a new appointment being made by the city official who appointed the departing trustee to serve a new three (3) year term. The vacancy in the office of an elected trustee shall be filled by the alternate trustee elected by the f employees who a'n~*sedd the aepa, ing +mstee plan participants. The alternate trustee shall serve out the unexpired term of the departed trustee. An election shall be held to replace the alternate trustee. The alternate trustee so elected shall serve out the unexpired term of the prior alternate trustee. Temp. Ord. No. 1873 08/24/99 Page 5 Sec. 16-61. Location of office of the fund. The principal offices of the trust fund shall be located and maintained in #lie Broward County, at Tamarac City Hall, or at such other location :w he ryy as the trustees may determine. Sec. 16-66. Quorum voting action without meeting. (a) A quorum of the board of trustees shall be at least fetif three (43) trustees or alternate trustees. (b) Any action taken by the trustees, except as herein otherwise provided, shall be- y affi- .-mative - ete of ma or -it , 09 t4@ total 4 Usteo w,,omheFshipregiures at least three (3) votes. The Trustees must cast their votes in person. Sec. 16-71. Investments. (a) The trustees shall have the power and authority, in their sole discretion, to invest and reinvest such funds as are not necessary for current expenditures or liquid reserves, as they may from time to time determine. -U.S. Se6Ai6„g 1 "7c n71 (1) (b) fi ��CT7C TM SUVC-hWii&i�6e iS pefR444ed by these seetions The trustees may sell; exchange or otherwise dispose of such investments at any time and, from time to time, as provided in section 16-76(6). The trustees shall have the authority, in respect to any stocks, bonds or other property, real or personal, held by them as trustees, to exercise all such rights, powers and privileges as might be lawfully exercised by any person owning similar stocks, bonds or other property in his own right. Sec. 16-75 Bylaws, rules and regulations. (a) The trustees are hereby empowered and authorized to establish and adopt bylaws and to promulgate any and all necessary procedures, policies, rules and regulations which they deem necessary or desirable to facilitate the proper administration of the trust fund; provided the same are not inconsistent with the terms of this trust agreement. The trustees are hereby empowered and authorized in their sole discretion to construe and inte ret this plan and an and all procedures, policies.,rules and regulations so adopted or promulgated. All bylaws, procedures, policies rules and regulations adopted by action of the trustees shall be binding upon all parties hereto, all parties dealing with the trust fund and all person claiming any benefits hereunder. 1 Temp. Ord. No. 1873 08/24/99 Page 6 Sec. 16-81. Trustee reimbursement. The trustees shall be entitled to reimbursement for the expenses properly and actually incurred in the performance of their duties with the trust fund and to per diem allowance in amounts established by the board of trustees, in accordance with_ appropriate laws, including, without limitation, for attendance at meetings and other functions of the board of trustees, attendance at institutes, seminars, conferences or workshops for or on behalf of the trust fund. A trustee may be paid directly from the fund by way of reimbursement for the amount of actual city erR.S9 wages that he has were lost by reason of his the performance of duties for the trust fund in accordance with any reasonable schedule for reimbursement which may be established by the board of trustees. Sec. 16-84. Construction and determination by trustees. Subject to the stated purposes of the fund and the provisions of this declaration, the trustees shall have full and exclusive authority to determine all questions of coverage and eligibility, methods of providing or arranging for benefits and all other related matters. They shall have full power to construe the provisions of this declaration, the terms used herein and the bylaws and regulations issued thereunder. Any such determination and any such construction adopted by the trustees in good faith shall be binding upon all of the parties hereto and the beneficiaries hereof. No questions or disputes arising under this declaration shall be subject to the grievance or arbitration agreement between the city er- PRO and any labor organization; provided, however, that this clause shall not affect the rights and liabilities of any of the parties under any of such collective bargaining agreements. Sec. 16-86. Reliance on written instruments. (a) By trustees. Any trustee, to the extent permitted by his fiduciary responsibility and by applicable law, may rely upon any instrument in writing purporting to have been approved by a majority vote of the trustees and signed in accordance with section 16-68 as conclusive evidence of the fact that a majority of the trustees have taken the action stated to have been taken in such instrument. In any controversy, claim, demand, suit at law or other proceeding between any participant or any other person and the trustees, any instruments on file with the trustees, or with the city , and any fact certified to the trustees, by the city or-&&9, and any fact which are of public record and any other evidence pertinent to the issue involved. (c) Reliance on counsel's opinion. The trustees may consult with independent legal counsel concerning any question, which may arise with reference to the duties and powers, or with reference to any other matter pertaining to this declaration or the trust hereby established. The opinion of such counsel shall be full and complete authorization and protection in respect of Temp. Ord. No. 1873 08/24/99 Page 7 any action taken or suffered by the trustees hereunder in good faith in accordance with the opinion of such counsel. The trustees shall not be. liable therefor to the extent permitted by applicable law. (d) Responsibilities imposed by state law. The provisions of this section shall not relieve the trustees of any responsibilities or obligations imposed by F. S. Chapter 112, 175-18 5; or- 286s or other applicable laws. SECTION S: That Chapter 16, Article II Declaration of Trust, Division 3. Benefits, Contributions be amended by deleting the r#r-W yen through language and adding the underlined language as follows: Sec. 16-101. Contributions and collections - Employer contributions. (a) The city, 490-and participants shall make prompt contributions or payments to the trust fund in such amounts and under the terms as are provided for in this chapter and as requited by law. Such contributions or payments are absolute obligations to the trust fund, and such obligation shall not be subject to (by way of illustration and not limitation) setoff or counterclaim which the city, for any participant may have for erroneous contributions to any other trust funds, or for any other liability of any employee, the city, 940-, the trustees or any other person. Sec. 16-103. Same — Collection and enforcement of payments. The trustees, or such committee of the trustees as the board of trustees shall appoint, shall have the power to demand, collect and receive city, l and participant payments and all other money and property to which the trustees may be entitled, and shall hold the same until applied to the purposes provided in this trust agreement. They shall take such steps, including the institution and prosecution of, or the intervention in, such legal or administrative proceedings, as the trustees in their sole discretion determined to be in the best interest of the trust fund for the purpose of collecting such payments, money and property. Sec. 16-104. City has no right, title or interest. The city, 490-, any participant or beneficiary shall not have any right, title or interest in or to the trust fund or any part thereof other than vesting under the pension plan and other than a pension or other benefit for which a participant or beneficiary is entitled under the terms and conditions set forth in the pension plan. There shall be no pro rata or other distribution of any of Temp. Ord. No. 1873 08/24/99 Page 8 the assets of the trust fund as a result of any group of employees or participants and their beneficiaries, ceasing their participant in this trust fund for any purpose or reason, except as required by law. SECTION 6: That Chapter 16, Article III Pension Plan, Division 1. Generally, be amended by deleting the stamen through language and adding the underlined language as follows: ARTICLE III. PENSION PLAN DIVISION 1. GENERALLY Sec.16-126. Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Actuarial equivalence or actuarially equivalent means that any benefit payable under the terms of this plan in a form other than the standard form of benefit for unmarried participants shall have the same actuarial present value on the date payment commences as such standard form of benefit. For the purposes of establishing the actuarial present value of any form of payment, all future payments shall be discounted for interest and mortality by using seven - percent interest and the 197483 Group Annuity Mortality Table €e leis, with ages set ahead five (5) years in the case of disability retirees. Average final compensation means one -twelfth of the average annual compensation, defined as total cash remuneration paid for services rendered to the city, , of the five (5) highest years of service prior to the employee's normal retirement date or prior to the employee's voluntary discontinuance of participation in the plan. rtsf MR General employee means any person employed by the city of a" Per -sea eF"10Yed-bY ep 'hine , ' , Temp. Ord. No. 1873 08/24/99 Page 9 r.,A;,.ipaf. in this rl-ar in ow0or-od o pigyme ther than a police officer, firefighter, temporary employee or elected official. .. ... IM MOW Retirement or retired means the complete withdrawal of a participant from any further employment as an employee, paid consultant or independent contractor of the city, nc^, or b�*'' Service means years and completed months of continuous uninterrupted employment as a full-time employee of the city, ncn,ar- both, ., 'ide 1 41zM_eMPIEI..ee.. ,.f n80.n+ 1..,.,o h- PR#i8iPaR4S in this plan on june �Q' , commencing on the date of hire, for which a person is paid, or entitled to payment, by the city-oF499: (1) For the performance of duties; (2) For reasons other than the performance of duties, including vacations, holidays, temporary disability, illness, jury duty, military duty, administrative leave, paid leave or approved leave of absence; (3) As the result of back pay being awarded, or agreed to, by the city er. UP40 (irrespective of mitigation of damages). Noncovered employment: A person who is paid, or entitled to payment, by the city er- BS9 shall also be credited with service for purposes of participation, vesting and breaks in service (but not for benefit purposes) based upon service in noncovered employment for the city9, provided that the person worked for the city are -PRO in covered employment immediately before or immediately after the noncovered employment, and further provided that no resignation, discharge or retirement occurred between the covered employment and the noncovered employment. Sec. 16-127. Submission of claims, notices and inquiries. All claims for benefits, elections for a specific form of benefit, notices of reemployment, notices of retirement, verifications of retirement, notices of mailing address, notices of appeal, and all other inquiries and matters concerning the pension plan shall be submitted to the board of trustees addressed as follows: Temp. Ord. No. 1873 08/24/99 Page 10 Secretary City of Tamarac Employees' Pension Flan 7-525 N. W. 881h Avenue Tamarac, Florida 33321 Sec. 16-132. Funding generally. The plan shall be funded by contributions from participants, contributions from the city SOS and other income sources as authorized by law. Sec. 16-133. Participant contributions. (a) All general employee eAd paliee offieef participants shall make regular contributions at the rate of five (5) percent of total cash remuneration paid for services rendered to the city ,,, IMO, which shall be deposited in the fund at least monthly. All fire f4ghl�r ..4 afte f April , 1998 „hie shall be ,70,.esite :,. oke -11fid -A♦ least. ., f,+1 lyr The city shall assume and pay participant contributions for their respective employees in lieu of payroll deductions from participants' earnings. No participant shall have the option of choosing to receive the contributed amounts directly instead of having them paid by the city e;a SO directly to the plan. All such contributions by the city or IRSO shall be deemed and considered as a part of the participant's accumulated contributions and subject to all provisions of this plan pertaining to accumulated contributions of members. This city pickup of contributions is the result of a five -percent reduction of each participant's base pay and of base pay levels which occurred on October 1, 1986, es ;1.'iyTyre'n?at employed by B90 on july 1 , 4989, also 814 eaek fir-ef4ghter- paAieipant's base per), and of base pay levels ;.A.I A -II ed an April 1, , all of which is intended to comply with section 414(h)(2) of the Internal Revenue Code. WA F.,M- TT�i7ri [�T�Tr W01 Will' - A - (eb) If a participant has not made contributions for any period of covered service because the previous plan did not permit contributions or benefit credits for service after normal retirement Temp. Ord. No. 1873 08/24/99 Page 11 age, the participant must pay retroactive contributions for that period in order to receive vesting credit for that period. Such retroactive contributions shall be made over a period of time equal to the period of time for which contributions were not made unless the participant selects a shorter period. All retroactive contributions due must be paid in full prior to retirement. Sec. 16-134. Reserved !s�e!�:�s!r.�re�eires.. . �'rsr�frrs!�s�*rafieesars. 1911EW W. on - - - Sec. 16-135. City and contributions. The city, on behalf of participants who are city employees, shall contribute to the plan on at least a quarterly basis an amount which, together with the contributions derived from said participants and the amount derived from pr-e ,,;ufa taxer, A""d other income sources as authorized by law, will be sufficient to meet the normal cost of the plan for said participants and to fund the actuarial deficiency over a period of not more than thirty (30) years.1180, on - _ P&4j8jP8'R4r_' A-4-44A [4r.0 QSQ employees, shall eant4hi4to to the plan go M leftS4 a quaAefly basis time period— Affla of said PeAiGiPeAts if said P&AieipaR48 were MkOffl-h-Affs of F-R-S Fat—h-A-F ah-an paFtieipants in this pleffl. Sec. 16-140. Same -Notice of receipt of claim. (c) Notice to the alternate payee shall be given at his/her address as shown in the domestic relations order. SECTION 7: That Chapter 16, Article III Pension Plan, Division 3. Credited Service, be amended by deleting the strislien through language and adding the underlined language as follows: See.16-191. Participation. (a) A person shall become a participant on the first day of service. Each full-time employee of the city shall be a participant in the plan except: 5 Any person employed as a firefi hter. Temp. Ord. No. 1873 08/24/99 Page 12 (6) Any person employed as a police officer. See. 16-196. Breaks in service. (a) A break in service shall occur when a participant is no longer employed by the city of �as a full-time employee. However, no credits shall be lost except as provided in section 16-197. (b) A break in service shall not occur if the participant is not employed due to the participant: (1) Entering into the Armed Forces of the United States, provided the person returns to work in covered employment within ai ety (90) days f the time periods provided in the Uniformed Services Employment and ReemploymentRights Act (USERRA) after discharge or iA4thifi„ety (90) a., e f .a; ehe e release from a hospital, if the person was hospitalized at the time of separation from the armed forces; (2) Becoming employed by the city er- Q S 9 in noncovered employment; (3) Being absent from work due to maternity or paternity leave as defined in section 16-126 or due to unpaid leave of absence approved by the city er. 1489; or (4) Becoming temporarily totally disabled or receiving a disability benefit from the plan. (5) Terminating employment with the city er- RS9 and becoming re-employed by the city op4S -within five (5) years of termination provided that the employee did not receive a refund of the employee's accumulated contributions. Sec. 16-197. Loss of credits. A participant who is not vested shall lose all vesting credits earned to date if the participant suffers a break in service before earning five (5) vesting credits. However, a fir-e€igl participant will not suffer a loss of credits and will receive vesting credit for time spent in the military service of the Armed Forces of the United States or the United States Merchant Marine while on official leave of absence in the event of a national emergency provided that the requirements of Seel e P& W2 (5)_ (b), Florid Stat tee USERRA, have been met. A pekee o-f4e-of 41A.4-1-1- Hot sa-14444- ek less in se;_q14eR_ Mad- feeeive vesting er-edit &r. time spe Temp. Ord. No. 1873 08/24/99 Page 13 See. 16-199. Reentry into plan. (a) A person who has been paid a refund of accumulated contributions after layoff by the city sr. Q�9 and subsequently is reemployed by the city e9 and earns any vesting credits under the pension plan may repay to the pension plan the accumulated contributions previously received, plus interest on that amount at the actuarially assumed interest rate, compounded annually, or such other amount as prescribed in section 411(c)(2)(d0 of the Internal Revenue Code. SECTION 8: That Chapter 1.6, Article III Pension Plan, Division 4. Benefits, be amended by deleting the stviekee through language and adding the underlined language as follows: Sec. 16-217. Early retirement age. The early retirement age shall be the first day of any month on which or after a f4r-ef4gl participant has earned ten (10) vesting credits and has attained age 04 Fifty-five (55) ; See. 16-218. Early retirement benefit. The early retirement benefit shall be the benefit level provided in section 16-233 et seq. reduced by one -fifteenth for each of the first five (5) years and one -thirtieth for each of the next five (5) years or-, for- f;,.of ght r A•,.,...,..,tn ith tWeill„_FW0 (294 or- more vesting Fed ts for each year by which the participant is younger than the normal retirement age for the participant on the effective date of his early retirement. 1 Temp. Ord. No. 1873 08/24/99 Page 14 Sec. 16-219. Normal retirement age. The normal retirement age shall be the first day of the month on which or after which the participant attains age= (4 Sixty-two (62) ; ��rr.�r�r�aesq See.16-223. Optional benefits. Optional benefits are: (1) Single life annuity. Any participant may file an election to receive monthly payments for life. (2) Any other actuarially equivalent benefit approved by the board of trustees_ of pr-q.,i ded by F. S. n0..+;.9„c. 1 751 "71 1444 d 1 Q5.161 Sec. 16-225. Revocation of election. (b) After benefits have commenced, a retired participant may change her or his designation of joint annuitant or beneficiary. Upon making such a change the participant's benefit payments shall be adjusted to be actuarially equivalent to the benefit paid before_ the change. Sec. 16-226. Notflee offorms 9f Pension henefitsReserved. Delete in its entirety. Sec. 16-227. Right to disability benefits. (a) Service -connected. A service -connected disability benefit shall be payable if a participant= has suffered a service -connected injury, illness, disease, or disability which permanently incapacitates the participant, either mentally or physically, from his/her regular and continuous duty for the city or- Temp. Ord. No. 1873 08/24/99 Page 15 ' and wholly prevents the p� participant from rendering useful and efficient service to the city-ff (b) Presumption. (44 For all employees who where initially employed prior to the effeetjw 4teDecember 23 1 887 of this section and were members of the previous employees' retirement plan for the city, any permanent disability, as described in paragraph (a) (1) above, which is the result of or caused by tuberculosis, hypertension or heart disease, shall be presumed to have been incurred in the line of duty so as to be service -connected unless a physical examination of the participant conducted upon initial hiring by the city revealed that such condition existed at that time. (c) Nonservice-connected. A nonservice-connected disability benefit shall be payable if a participant: with two (2) but less than ten (16) vesting credits -has suffered a nonservice- connected injury, illness, disease or disability which permanently incapacitates the participant, either mentally or physically, from his regular and continuous duty for the city or BSO or any other gainful full-time employment; Temp. Ord. No. 1873 08/24/99 Page 16 See.16-228. Amount of disability benefits. (a) Service -connected. The monthly service -connected disability benefit shall be: (1) The greater of the participant's accrued retirement benefit-, or (2) A monthly disability benefit equal to the average monthly compensation paid by the city or- IRS9 for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by the participant from the city's a 's long-term disability insurance benefit plan, social security disability and workers' compensation (including those portions of lump sum payments that are in consideration for discharge of liability for future wage loss or total disability benefits), provided that (44 the benefit paid by the plan shall not exceed sixty-six and two-thirds (66 2/3) percent of the participant's average monthly compensation at the time of disability _ and ,l;ssl.;lity for. «., kee —Rad i..e a pleyees 1 (2) the benefit paidby t e ,ale t f r. thief, ffge of liability for. Aiwye wage less +.+el .1;sa ility 140...,.f;+...) b,, 1.,,.,. +t,.,., foi4y +..,,, (n2) .. ri+ of +l,e ,l;sRl.to,l f;+.e,.l•,+e06 ,. el;,,e disability. Any reduction of the disability benefit provided herein on account of workers' compensation benefits received shall be limited to the amount that the total of the workers' compensation benefit plus the disability benefit payable hereunder exceeds the maximum employee's average monthly compensation at the time of the disability. (4) Upon reaching normal retirement age, the participant's benefit shall be either a normal retirement benefit, with vesting credits for each year of service -connected disability benefits and average annual compensation based upon the base wage rates paid by the city er- B89 during the period of the participant's disability for the participant's last position and step, or the benefit amount provided by subsection (a)(1) or (2) above, whichever is greater, continuing as provided by the retirement benefit option selected by the participant. (b) Nonservice-connected; two but less than ten vesting credits. The monthly nonservice connected disability benefit for participants with at least two (2) but less than ten (10) vesting credits shall be: 1 Temp. Ord. No. 1873 08/24/99 Page 17 (1) A monthly disability benefit equal to the monthly base wage paid by the city 9f 199 for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by the participant from the city's ohs long-term disability insurance benefit plan and social security, provided that the benefit paid by the plan shall not exceed twenty (20) percent of the participant's average monthly salary at the time of disability. (c) Nonservice-connected, ten (10) or more vesting credits. The monthly nonservice-connected disability benefit for participants with at least ten (10) vesting credits shall be: (1) The greater of the participant's accrued retirement benefit:, or (2) A monthly disability benefit equal to the average monthly compensation paid by the city o;z RS;9 for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by the participant from the city's or- B80's long-term disability insurance benefit plan and social security disability, provided that the benefit paid by the plan shall not exceed twenty (20) percent of the participant's average monthly compensation at the time of disability --gel-oes-1 and- tl}i�*)W(35) per-eeR4 Aftho fi -O fig +or and . 460 B f fi ff r.aftieipaNtS 4 AM 44n- A 45"SOr- 990's long 40benefit plan —QQ-d- ,E 1 . a 18SS OF t 4.,1 diionl.i143' be.+e&S) Shft r 08t h_A_ IMOSS 4-h—Aff 4.. @ 4:r fi*0 (d) Increase in benefits. A participant's monthly disability benefit under this plan shall be increased if the monthly base wage rate paid by the city or-UR9 for the participant's last position and pay step is increased while the participant is receiving a disability benefit, provided that the total disability benefit paid by the plan shall never exceed the applicable maximum limits set forth above. (e) All participants whose employment with the city ^r +1'e she,.iff Geun4y terminated prior to the adoption of this ordinance [November 27, 1991], shall file a claim for disability, if at all, within ninety (90) days form the effective date of this ordinance. 1 Temp. Ord. No. 1873 08/24/99 Page 18 Sec. 16-229. Determination of disability: (b) Continuing review. The board may review the status of each disability benefit recipient once each year and may, in its sole discretion, require recipients, as a condition of continued payment of disability benefits, to submit physician's reports, submit to examinations, at the plan's expense, by physicians or other medical, psychological, vocational or rehabilitation professionals, or, if the r-eeip en4 is a rnFMOr goner -a! empleyee,l submit copies of his/her annual federal income tax returns to substantiate continued disability, or if the weipient is A geaeFal e-receiving a nonservice-connected disability benefit, submit proof of attempts to secure suitable gainful employment. Should a gener-al employee or- a goner -a! employee disability recipient not submit copies of his or her annual federal income tax return after being requested to do so by the board, the board of trustees may, after notice to the e -disability recipient, suspend the disability benefit paid to such former genet employee until such recipient has fully complied with the obligations of this section. Sec. 16-230. Recovery from disability. (a) Recovery and reemployment by cio)­�4 If a service -connected disability benefit recipient recovers, the board of trustees shall request the city er--1480 to reinstate the participant to his/her former position although the city e9 is not required to do so, and if the participant resumes or declines an offer of such employment with the cityA; ago, the participant's disability benefit will be discontinued. (b) Recovery from nonservice-connected disability and reemployment by another employer. If a e nonservice-connected disability recipient recovers and obtains gainful full-time employment (other than employment in a sheltered workshop, Goodwill Industries, or other employment program for the handicapped), the participant's disability benefit shall be discontinued. the pat4ieipa4s disability benefit shall be jiseentimled (c) Vesting credit during disability. A recipient of a service -connected disability benefit who has recovered and returned to work shall receive full vesting credit for all the time during which the participant received a disability benefit. A recipient of a nonservice-connected disability benefit who has recovered shall not suffer a break in service for the period of his/her disability; however, in order to receive vesting credit for the period of disability, the participant must be reinstated by the city a --, if a ucn playee at daw +;r.,o of E7;cability, by B90, and pay into the fund the amount of employee contributions which he/she would have made during his/her disability had he/she not been disabled, plus interest as determined by the board. 1 Temp. Ord. No. 1873 08/24/99 Page 19 Sec. 16-230.5. Duty to cooperate and search for work; reduction in disability benefit. (c) Should the board of trustees determine, after notice to the disability pension recipient that the recipient has not complied with the obligations imposed by this section, the board may: •eer.��. .Werra!efere!u!re!*srr:!rtf■�esrs!*1 1" 111owl-MM. (3} Suspend athe nonservice-connected disability benefit paid to athe former geaeFal employee until such recipient has fully complied with the obligations of this section. Sec. 16-233. Benefit level. The Benefit levels-meis: (1) For -genera emplayees, two (2) percent of average final compensation;_ i at, LNLW.M La M NIPPON .. .. (44 For employees who served in more than one (1) of the above -city's employment classifications-3 Temp. Ord. No. 1873 08/24/99 Page 20 a. "eWH4ffi the amount of pension benefit shall be calculated by multiplying the vesting credits earned in each employment classification by the benefit level for that employment classification's pension plan. Sec. 16-239. Preretirement death benefits for vested participants. (a) Any participant, whether or not still in active employment, who has a nonforfeitable (vested) right to any portion of the accrued benefit, and who dies prior to the commencement of benefits, shall have a survivor benefit payable on his or her behalf. The survivor benefit shall be payable to the participant's spouse unless, with the spouse's consent as specified in section 16-241, a different beneficiary is designated by the participant. If the deceased participant is not married at the time of his or her death, the survivor benefit shall be paid to his or her designated beneficiary. (b) The amount of the survivor benefit shall be equal to fifty (50) percent of the actuarially equivalent single sum value of the participant's vested accrued benefit as of his or her date of death or, if the equivalent single sum value of the amount the spouse or other beneficiary could have received had the participant retired on the day of death and elected a one hundred (100) percent joint and survivor annuity, whichever is greater. If this single sum amount is less than five#�Wee thousand wed dollar's ($3,9QQ.005,000.00), it shall be paid in a lump sum to the spouse or designated beneficiary, as the case may be, as soon as is practicable following the participant's death. If the single sum amount exceeds fivethr-ee thousand €seed dollars ($�,500.095.000.00), the benefit shall be paid in the form of an immediate monthly survivor annuity unless the beneficiary and the board agree to an alternative actuarially equivalent form of benefit. Sec. 16-241. Spousal consent. With respect to death benefits provided in this article, at any time prior to the date of death, a participant may file with the board of trustees his or her designation of a beneficiary other than his or her spouse. Any such filing with the board must be evidenced by spousal consent. The spousal consent shall be in writing by a notary public or a representative of the employer, and such consent shall acknowledge the effect of the election. Spousal eensent is not Neither the plan, the board nor a third party payer shall be liable by reason of payments made pursuant to a consent obtained by the board acting in accordance with the provisions herein. 1 Temp. Ord. No. 1873 08/24/99 Page 21 SECTION 9: That Chapter 16, Article IA Firefighters, Article 11A Declaration of Trust, Division IA Generally, Division 2A Board of Trustees, Division 3A Benefits, Contributions, Article IIIA Pension Plan, Division lA Generally, Division 2A Administration, Division 3A credited Service, Division 4A Benefits, be created to comply with Chapter 175 of the Florida Statutes as amended by adding the underlined language as follows: 1A ARTICLE IA. FIREFIGHTERS See. 16-2A ARTICLE IIA. DECLARATION OF TRUST See. 16-3A DIVISION 1A. GENERALLY Sees. 164A.-16-25A, Reserved. Sec.16-26A. Definitions. The following words terms and phrases, when used in this article shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Administrator means the board of trustees. Beneficiary means a person designated by a participant or by the terms of the pension plan created pursuant to this article, who is or may become entitled to a benefit thereunder. Consultant means any person or entity who, for compensation, advises, represents or provides other assistance to the trustees concerning the establishment or operation of the plan and meets the requirements and definition of section 175.071(6) b . Contributions means the payments _rewired of the city and those payments made by the state for this fund or pqyments made b or on behalf of participants or their beneficiaries. Custodian means one who is officially entrusted with guarding and keeping records documents and assets of this trust fund. Temp. Ord. No. 1873 08/24/99 Page 22 Declaration of trust means this article including all amendments and modifications as ma from time to time be made. Firefighter means any person employed by the cif who satisfies the definition_ of firefighter in section 175.032(8). F. S. Named fiduciary means the board of trustees. Participant means any -pensioner or beneficiary receiving or entitled to receive benefits, anerson with vested benefits and py em to ee who accrues or retains credited service in accordance with theprovisions of the 121an established pursuant to this declaration of trust. Pension i2lan or j2lan means the 121an, prograrn.method rules and procedures for the avment of benefits from the trust fund which is l2art of this cha ter. Trustees means the trustees designated in this declaration of trust together with their successors. designed and anvointed in accordance with the terms of this declaration of trust. Trust fund trust or and means the entire trust estate of the cit firefi liters' ension trust fund as it ma from time to time be constituted including, but not limited to all funds received in the form of contributions together with all contracts(including dividends interest refunds and other sums payable to the trustees on account of such contracts all investments made and held by the trustees all income increments earnings and l2rofits therefrom and an and all other propertypropegy or funds received and held by the trustees by reason of their acceptance of this declaration of trust. Sec.16-27A. Creation; purpose. The trust fund is created established and maintained and the trustees a ree to receive hold and administer the plan, for the pu1pose of providing such benefits as now are or hereafter ma be authorized or permitted by law for participants and their beneficiaries and in accordance with the provisions set forth herein and in the Dension Dian. Sec. 16-28A. Establishment of plan. a The trustees and the city commission shall adopt a written pension plan in accordance with state and municipal law wherein the trustees as named fiduciaries shall have the authority to control and manage the operation and administration of the plan in accordance with state and municipal law. Such plan shall provide for the pUrnent of such retirement ension benefitspermanent disabilitY pension benefits death benefits and related benefits as are required by law or feasible and shall include by wa of illustration and not limitation: Temp. Ord. No. 1873 08/24/99 Page 23 (1) Conditions of eligibility for participants and beneficiaries; (2) Standards for vesting of benefits; (3) Schedule of the type and amount of benefits to be paid; (4) A procedure for the payment of benefits in the form of a „qualified joint and survivor annuity; (5) Procedures for claiming benefits and for the distribution of benefits; (6) A procedure for the separate accounting for the portion of each employee's accrued benefit, if any, derived from employee contributions; (7) Any_procedures for the allocation of authority for the operation and administration of the plan; (8) The basis on which payments are made from the plan. Such pension plan shall at all times comply with Chapter 175 of the Florida Statutes and all other applicable state and federal laws. (b) The trustees shall agree by a majority vote, of their total members, to the plan, which shall then be submitted, to the city commission for enactment as an ordinance. This plan and any amendments thereto shall qualify under applicable provisions of the Internal Revenue Code. See. 16-29A. Amendment of plan. The pension plan may be amended by the trustees at any time, provided that such amendments comply with applicable sections of applicable Internal Revenue Code, Chapter 175 F. S. all other a licable law, and the pMoses as set forth in this declaration and are approved by the city commission. Additionally, and not by LALay of limitation the trustees and the cit commission may amend the pension plan in the future, or retroactively where they deem it necessary, to maintain the continuation of the _trust fund's tax-exempt status or to _preserve compliance with 012licable Internal Revenue Code Chapter 175 F. S. and all other gpl2licable law. A copy of each amendment of the pension plan shall be adopted and filed by the trustees as part of the records and minutes of the trust fund, and copies thereof shall be made available to the participants and their beneficiaries requesting such. Temp. Ord, No. 1873 08/24/99 Page 24 Sec. 16-30A. Controversies and disputes --Submission to trustees., All questions_ or controversies of whatever character arising in any manner or between any persons or entities in connection with the trust fund or the operation thereof, which are related to any claim for any benefit by any participant or any other person, shall, pursuant to rules and re ulations ado ted by the trustees be submitted to the trustees and the decision of the trustees shall be final and binding upon all persons dealing with the trust fund or plan, or claiming benefits thereunder. See.16-31A. Same --Settling. The trustees may in their sole discretion compromise or settle any claim or controversy in such manner as they think best and any majority decision made by the trustees in compromise or settlement of, a„ claim or controversy, or any compromise or settlement entered into by the trustees, shall be conclusive and binding on all parties involved in this trust, provided that all such settlements are in accordance with the pension plan and all applicable state law. Sec. 16-32A. Termination of trust --Conditions. This trust agreement shall cease and terminate upon the happening of M one (1) or more of the following events: (1) If thetrustfund shall, in the opinion of the trustees, be inadequate to carry out the intent and purpose of this trust agreement, or be inadequate to meet the payments due or to become due under this agreement and under the plan of benefits to participants and beneficiaries already drawing benefits; 2 If there are no individuals living who can qualify as participants or beneficiaries hereunder; (3)„-_„In the event of termination as may be otherwise provided by law. Sec.16-33A. Same --Procedure. In the event of termination, the trustees_ shall: (1) Make provisions out of the trust fund for the payment of any and all obligations of the trust, including expenses incurred up to the date of termination of the trust and the expenses incidental to such termination; Temp. Ord. No. 1873 08/24/99 Page 25 2 Arrange for a final audit and report of their transactions and accounts for the purpose of termination of their trusteeship File all notices or reports in connection therewith as maybe required by applicable law; and (4) Distribute_ the remaining assets in accordance with Sections 175.361 F„S., and other a licable law Sec. 16-34A. Applicabifily of state and federal law. This trust is created and accepted in the state and all questions pertainingto the or construction of this trust agreement and the acts and transactions of the arties hereto shall be determined in accordance with the laws of the state, except as to matters governed by_ -federal law. Sec. 16-35A. „ Savings clause. If any provision of this agreement and declaration of trust is held to be unlawful, or unlawful as to an person or instance such fact shall not adversely affect the other provisions herein contained or the application of the provisions to any other person or instance, unless such �y p functioning of this fund. illegality shall make impossible the , Sec.16-36A. Reserved. Sec. 16-37A. Judicial settlements. The trustees shall be entitled, at any time, to have a Judicial settlement of their accounts a ,dicial „ and to seek judicial protection by any action or proceeding they determine necessM and further, to obtain a judicial determination or declaratory judgment as to any questions relatingto o the discharge of their duties and obligations under or in connection with the administration of this trust and as to the distribution of assets belonging, to the trust. Any such determination, decision or judgment shall be binding_upon all parties to, or claiming under, this trust agreement. See. 16-38A. Withholding pgyment. q _ p proper p p to whom any I an� uesttons or disputes shall arise as to the ro er person or persons , a meats shall be made hereunder, the trustees mqy withhold such pqyment until there has been made an adiudication of such auestion or dispute which, in the trustees' sole iudament. is satisfactoly to them or until the trustees have been fully protected against loss by means of such indemnification agreement or bond as they, in their sole judgment, determine to be adequate. Temp. Ord. No. 1873 08/24/99 Page 26 Sec. 16-39A. Qualification of trust personnel. No person shall serve as a trustee,_ administrative _manager, custodian, investment manager or consultant to the trust fund or 121an or serve in any other capacity thereof whether as an agent, officer or employee, unless such person is eligible for service in accordance with applicable law. Sec. 16-40A. Vesting of rights. No participant, beneficiary or employee or other person shall have vested interest or right in the trust fund except as provided by the pension plan and state law. Sec. 16-41A. Amendment to declaration. The provisions of this declaration may be amended at anv time by an instrument executed by a majority vote of the total trustee membership and enacted as an ordinance by the city commission;, provided,, however, in no event shall the trust fund be used for any purpose other than the purposes set forth in this declaration, and for the purposes of paYin the necessary expenses incurred in the administration of this trust. Sec. 16-42A. Effective date. This article and Declaration of Trust shall be in full force and effect as of October 1 1999. Provided further that all participants who terminated employment with the city and had vested benefits in the pension plan at the time of termination shall be governed by the ordinance or ordinances in effect at the time of employment termination from the city. Secs. 16-43A.-16-55A. Reserved. DIVISION 2A. BOARD OF TRUSTEES Sec.16-56A. Members. a The 121an shall be administered by five 5 trustees as follows: (1) Two trustees, unless otherwise prohibited by law, shall be legal residents of the city, who shall be a ointed by the city commission. 11 Temp. Ord. No. 1873 08/24/99 Page 27 2 Two trustees shall be full-time firefighters as defined in section 175.032(8)(a), F. S., or retired firefighters, _receiyin benefits hereunder, —if no active firefighter is willinia or available to serve as trustee, who shall be elected by a majority of the active firefighters who are participants of the plan. (3) One (1) trustee shall be selected by the other four trustees as provided for herein, and shall be appointed, as a ministerial act, by the city_ commission_ (4) Each trustee may succeed himself or herself in office and may also serve on other city boards including the Police Officer and/or the General Employee pension plans. (b) Appointed resident trustees shall serve terms of two (2) years, .unless sooner replaced by the city commission at whose pleasure resident trustees shall serve. c) Elected trustees shall serve terms of two (2) years, unless the trustee sooner leaves firefighter employment of the city . The cit clerk shall conduct the elections by secret ballot rior to the expiration of a trustee's expiring term. (d) The fifth member shall have the same rights as each of the other four. members appointed or elected as herein provided, and shall serve a term of two (20_years. (e) A vacancy shall occur whenever a trustee resigns, is removed by the city commission, is no longer eligible. or qualified to serve as a trustee, dies_ or becomes incapacitated. (1) A vacancy in the office of an appointed resident trustee shall be _filled by an appointment by the city commission to serve a new two (2) year term. (2) A vacanc, in the office of an elected trustee shall be filled by an election in the same manner as an original trustee was elected to serve a new two _(2) year term. (3) A vacancy in the office of the trustee selected by the other four trustees shall be filled in the same manner as the original trustee was selected. Sec. 16-57A. Resignation and removal. A trustee may resign and become and remain fully discharged from all further duty or responsibility hereunder Mon giving thirty- 30 day notice in writing to the remaining trustees and, if a resident appointee, to the city commission or such shorter notice as the remaining Temp. Ord. No. 1873 08/24/99 Page 28 trustees may accept as sufficient. The notice shall state the date on which such resignation shall take effect, and said resignation shall take effect on the datespecified. (1) The city commission may appoint a successor resident trustee at an earlier date, in which event such resignation shall take effect immediately upon the appointment of such successor trustee. (2) The City Clerk shall conduct an election to replace an elected trustee within the stated notice period. Sec. 16-58A. Successor trustees; assumption of office. Any successor trustee shall immediately upon appointment or election and acceptance of the trusteeship become vested with all the property, rights,powers and duties of a trustee hereunder with like effect as if originally named a trustee, without the necessity of any formal conveyance or other instrument of title: Sec. 16-59A. Acceptance of trust by trustees. A trustee shall execute a written acceptance in a form satisfactory to the trustees. By executin such written acceptance, a trustee shall be deemed to have accepted the trust created and established by this declaration and to have consented to act as trustee and to have agreed to administer the trust fund as provided herein. Such written acceptance shall be filed with the secretga who shall noti the remaining trustees of the receipt of such acceptance. Sec. 16-60A. Limitation of liabilily. No successor trustee shall in any way be liable or responsible for anything done or committed in the administration of the trust j2rior to the date of becoming a trustee. No trustee shall be liable for the acts or omissions of another trustee to whom certain responsi�biliti; es, obligations or duties have been delegated pursuant to this trust declaration, _nor shall any trustee be liable for the acts or omissions of an investment manager, attomey, agent or assistant employed by them12ursuant to this agreement, if such _person's performance was periodically reviewed by the trustees who found such performance to be satisfactoDL Sec. 16-61A. Location of office of the fund. The principal offices of the trust fund shall be located and maintained in Broward County, at Tamarac City Hall or at such other location as the trustees may determine. Sec. 16-62A. Officers. 1 Temp. Ord. No. 1873 08/24/99 Page 29 The trustees shall elect from among themselves a chairperson and a secretary for a term of one year, or until a successor has been elected. The secretary shall ensure „that minutes and records of all meetings, proceedings and acts of the trustees are maintained and shall, with reasonable promptness, send copies of such minutes and records to all trustees, and legal counsel. Additionally, the secretary shall comply with all requirements of section 175.071(4) F. _„_.. S. The chairperson, and in his or her absence the secretary,, shall preside at all meetings of the trustees and shall be entitled to one 1 vote on all matters. Sec. 16-63A. Power to act in case of vacancv. In case of the death, resignation or refusal or inability to act of any (1) or more of the trustees the remaining trustees shall have all the powers, rights, estates and interests of this trust p there shall be no change in the an shall e charged with its duties, provided that, m such cases, quorum or voting requirements established in section 16-66A. Sec. 16-64A. Meetings-, notices. The trustees shall meet at least once each quarter and at such other times as „the"_„ deem it necessary to transact their business. The chairman or the secretary of the board of trustees ma, and upon the written request of any two (2) trustees shall, call a meeting of the trustees at any time by ig ving at least five (5) days' notice in writing of the time and place thereof to the remaining trustees. Notice of such meetings shall be posted or advertised to the public. See.16-65A. Minutes. Written minutes a copy of which shall be furnished with reasonable promptness to each trustee and legal counsel, shall be kept of all business transacted and of all matters upon which voting shall have occurred and the vote shall be recorded. Such minutes shall bear the signature of the secretary and shall be approved at the succeeding meeting_ Sec. 16-66A. Quorum voting action without meeting_ (a) A quorum of the board of trustees shall be at least three (3) trustees. (b) Any action taken by the trustees, except as herein otherwise provided, requires at least three (3) vote. _ . The trustees must cast their votes in person. See.16-67A. Reserved. Temp. Ord. No. 1873 08/24/99 Page 30 Sec. 16-68A. Conduct of trust business. The trustees shall have sole and exclusive supervision of the operation of this trust fund and shall conduct the business and activities of the trust fund in accordance with this trust agreement- Chapter 175 F. S. and all other applicable law. The trustees shall hold manse and protect the trust fund and collect the income therefrom and contributions thereto. _The trustees may in the course of conducting the business of the trust execute all instruments in the name of the city emwployees' pension trust fund. Sec. 16-69A. Use of fund for expenses. The trustees shall have the power and author it to use and gapply the trust fund to pay or provide for the payment of all reasonable and necessary expenses of administering the affairs of this trust, including the employment of such administrative, legal,pert and clerical assistance, the purchase or lease of such materials, supplies and equipment and the performance of such other acts as the trustees in their discretion find necessga or 2pprol2riate in the performance of their duties. Sec. 16-70A. Use of fund to provide benefits. The trustees shall have the power and authority to use and apply the trust fund to pay or provide for the pUment of retirement and related benefits to eligible participants and beneficiaries in accordance with the terms, provisions and conditions of the pension plan. e leiart,,,,,,.... Sec. 16-71 A. Investments. !La) The trustees shall have the power and authority, in their sole discretion, to establish investment procedures to invest and reinvest such funds as are not necessary for current expenditures or liquid reserves as they_May from time to time determine. These investments shall be in compliance with Section 175.071(1), F. S. The trustees may sell; exchange or otherwise dispose of such investments at any time and, from time to time, as provided in section 16-76A. The trustees shall have the authority, in respect to any stocks, bonds or other property, real or personal, held by them as trustees, to exercise all such rights, powers_ and privileges as might be lawfully exercised by any person owning similar stocks, bonds or other property in their own right. b Delegation and allocation of investment functions. 1 The trustees are authorized in their discretion to allocate such duties and responsibilities to invest and reinvest such fund assets as they shall specify in such allocation to a committee or subcommittee of the board of trustees in Temp. Ord. No. 1873 08/24/99 Page 31 accordance with section 16-74A; provided, however, that such action shall have been a roved by a majority vote of the trustees as provided in section 16-66A. (2) The trustees shall have the power and authority to retain one (1) or more investment manager(s) who shall be responsible for the management, ac uisition dis osition investing and reinvesting of such of the assets of the trust fund as the trustees shall specify. The trustees upon written notice may terminate any such retainer. The fees of such investment manager, and its expenses to the extent permitted by law, shall be paid out of the trust fund. The trustees shall require that the investment manager acknowledge in writing that it is a fiduciM with res ect to the plan. 3 In connection with any allocation or delegation of investment functions under Para rag, t�hs (1) and (2) of this subsection, the trustees shall, from time to time, adopt appropriate investment policies or guidelines. See. 16-72A. Deposits and disbursements. All funds and securities of the trust fund shall be deposited by the trustees in such depositoKy or depositories, as defined in section 280.02 12 F. S. as the trustees shall from time to time select and an such deposit or deposits. or disbursement therefrom shall be made in the name of the trust in the manner desi nated and authorized by the trustees a ointed in accordance with section 16-71 A b 2 . Sec. 16-73A. Allocation and delegation of noninvestment responsibilities. The trustees ma by resolution bylaw or by provisions of this trust agreement, allocate fiduciary responsibilities and various administrative duties to committees or subcommittees of the board of trustees. Additionally, the trustees mgy. in their sole discretion retain such independent professionals, technical or other advisers to assist the trustees in meeting their fiduciM responsibilities. The trustees mLay delegate fiduciary responsibilities and duties to such individuals or firms as the trustees ma deem a ro riate or necessM, and consistent with section 175.071 7 F. S. and other state or federal law. All such costs associated with the retaininy, of such professional, technical or other advisers shall be aid from the trust fund. However, such action shall have been a roved by a majoritymajoriky vote of the trustees as provided in section 16-66A. Such dele ations or allocations of responsibilities shall not relieve the board of trustees of its responsibility for the sole and exclusive administration of the trust fund. 1 Temp. Ord. No. 1873 08/24/99 Page 32 See.16-74A. Committees. Each committee or subcommittee shall consist of at least two (2) trustees. A quorum of a committee shall be at least two L) trustees. Sec. 16-75A. Bylaws rules and regulations. (a) The trustees are hereby empowered and authorized to adopt bylaws and to promulgate any and all necessary procedures, polite rules and regulations, which they deem necessary or desirable to facilitate the proper administration of the trust fund; provided, that such bylaws or rules and regulations are not inconsistent with Cha after 175 F. S. and the terms of this trust agreement. The trustees are hereby empowered and authorized, in their sole discretion, to construe and interpret this plan and any and all procedures, policies, rules and regulations_ so adopted or promulgated. All bylaws or rules and regulations adopted by action of the trustees shall be binding upon all parties hereto, all parties dealing with the trust fund and all persons claiming any benefits hereunder. (b) No bylaw, regulation, rule, action or determination made or adopted by the trustees shall in any manner conflict or be inconsistent with any provision of this declaration or with any applicable state or federal law. Sec. 16-76A. Additional authorily. The trustees are hereby empowered, in addition to such other powers as are _set forth herein or conferred by state or federal law, to: (1) Enter into any and all contracts and agreements for cMing_out the terms of this declaration and for the administration of the trust fund, and to do all acts as they, in their discretion, may deem necessary or advisable and such contracts and agreements and acts shall be binding and conclusive on the parties hereto and on the participants involved; (2) Keep property and securities registered in the name of the trustees or of the fund; 3 Establish and accumulate as part of the trust fund such reasonable reserve funds as the trustees in their sole discretion deem necessM or desirable to cgM out the purposes of the trust fund; (4) Do all acts, whether or not expressly authorized herein, which the trustees may_ deem necessary or proper for the protection of the property held hereunder; and 1 Temp. Ord, No. 1873 08/24/99 Page 33 (5) Sell, exchange, lease, convey or dispose of any property, whether real or personal, forming a part of the trust fund upon such terms as they may deem proper and to execute and deliver at any time any and all instruments of conveyance, lease and transfer in connection therewith. Sec.16-77A. Bonds. The trustees shall obtain from an authorized surety company such bonds as may be required by state or federal law or desired by the trustees covering such persons and in such amounts (but not less than required by law) as the trustees, in their discretion, may determine. The cost of premiums for such bonds shall -be -paid out of the trust fund. Sec. 16-78A. Insurance. The trustees may. in their discretion. obtain and maintain policies of insurance. to the extent permitted by law, to insure themselves, the trust fund as such, as well as employees or agents of the trustees and of the trust fund, while engaged in business and related activities for and on behalf of the trust fund: 1 With respect to liability to others as result of acts errors or omissions of such trustee or trustees employees or agents, respectively; and (2) With respect to injuries received or property damage suffered by them. The cost of the premiums for such policies of insurance including waiver of recourse coverage, shall be vaid out of the trust fund. Sec. 16-79A. Information to participants and beneficiaries. The trustees shall provide participants and beneficiaries such information as mqy be required by state or federal law. Sec. 16-80A. Accountants and actuaries. The trustees shall retain one 1 or more independent qualified public accountants and one (1) or more enrolled actuaries in compliance with section 175.071(7), F. S., to perform all services as ma be re uired by applicable law and such other services as the trustees ma deem necessary. The costs incurred under this section shall be paid out of the trust fund. Temp. Ord. No. 1873 08/24/99 Page 34 Sec. 16-81A. Trustee reimbursement. The trustees shall be entitled to reimbursement for the expenses properly and actually incurred in the perfonnance of their duties with the trust fund and to a l2er diem allowance in amounts established by the board of trustees. Such reimbursement shall include, without limitation attendance at meetings and other functions of the board of trustees attendance at institutes, seminars, conferences or workshops for or on behalf of the trust fund. The trustees shall comply with section 112.061, F. S. or as may be _otherwise amended or renumbered, when establishing entitlements to reimbursement for such expenses _and per diem allowances. Sec.16-82A. Reports. e board of trustees shall make reports to and file such information with appropriate public authorities as may be required by section 175.261, F. S and other applicable state and federal law. Sec. 16-83A. Records of transactions. The trustees shall keep true and accurate books of account and a record of all of their transactions and meetings (including actions taken at such meetingsy informal action of the trustees).._Such records and books shall be audited at least annually by a certified public accountant. A copy of each audit report shall be available for inspection by interested persons at the city hall at reasonable times and after reasonable notice. Sec. 16-84A. Construction and determination by trustees. Subject to the stated purposes of the fund, the provisions of this declaration, and Chapter 175 F. S. the trustees shall have full and exclusive authority to determine all questions of coverage and eligibility, methods of providing or arranging for benefits and all other related matters. They shall have full power to construe the provisions of this declaration,_ the terms used herein and the bylaws and regulations issued thereunder. Any such determination and any such construction adopted by the trustees in good faith shall be binding upon all of the parties hereto and the beneficiaries hereof. No questions or disputes arising under this declaration shall be subject to the grievance or arbitration procedure established in any collective bargaining agreement between the city and any labor organization. Provided, however, that this clause shall not affect the rights and liabilities of an of the parties under an of such collective bargaining agreements. 1 Temp. Ord. No. 1873 08/24/99 Page 35 Sec. 16-85A. Liability in acting on documents. The trustees, to the extent permitted by applicable state and federal law, shall incur no liability in acting upon an, instrument, application, notice, request, signed letter, telegram or other paper or document believed by them to be genuine, to contain a true statement of facts, and to be signed by the proper person. Sec. 16-86A. Reliance on written instruments. (a) By trustees. Any trustee, to the extent permitted by the trustee's fiduciary responsibility and by applicable state or federal law, may rely upon any instrument in writing as conclusive evidence of the fact that a majority of the trustees have taken the action stated to have been taken in such instrument. Where such instrument puTports to have been approved by a majority vote of the trustees in accordance with section 16-66A and signed in accordance with section 16-68A. In any controversy, claim, demand, suit at law or other proceeding between any participant or any other person and the trustees, the trustees shall be entitled to rely_ upon any facts appearinggppearing in the records of the trustees. The trustees shall also be entitled to rely upon an facts appearing in any instruments on file with the trustees with the city, and any facts certified to the trustees b the city and any facts which are of public record and an other evidence pertinent to the issue involved. b By others. 1 No party dealiniz with the trustees shall be obli ated to: a. See the application to the stated trust purposes of any funds or propertypropegy of the trust fund,• b. See that the terms of this declaration have been complied with; or C. Inquire into the necessity or expediency of any act of the trustees. (2) Every instrument executed by the trustees shall be conclusive evidence in favor of evea person relying thereon that: a. At the time of execution of the instrument the trust was in full force and effect, b. The instrument was executed in accordance with the terms and conditions of this declaration; and Temp. Ord, No. 1.873 08/24/99 Page 36 C. The signing trustees were duly authorized and empowered to execute the instrument. (c) Reliance on counsel's opinion. The trustees may consult with legal counsel conceming_Any question.,which m-2y arise with reference to the duties and powers, or with reference to any other matter pertaining to this declaration or the trust hereby established. The opinion of such counsel shall be full and corn fete authorization and protection in respect of an action taken or suffered by the trustees hereunder in good faith in accordance with the opinion of such counsel. The trustees shall not be liable therefor to the extent permitted by applicable law. (d) Responsibilities imposed by state law. The provisions of this section shall not relieve the trustees of any responsibilities or obligations imposed by Chapters 112, 175, or 286, F. S., or other applicable laws. Sec. 16-87A. Discharge of liability. The receipt by the trustees of anv monev or propertv or checks (after such checks are honored at the bank and paid to the trust fund) shall discharge the person or persons paving or transferring the same to the extent of such payment or transfer. Secs. 16-88A-16-100A. Reserved. DIVISION 3A. BENEFITS. CONTRIBUTIONS Sec. 16-101A. Contributions and collections —Employer contributions. (a) The city and participants shall make prompt contributions or payments to the trust fund in such amounts and under the terms as are provided for in this chapter and as required by section 175.131, F. S., and other applicable state or federal law. Such contributions or payments are absolute obligations to the trust fund. Such obligations shall not be subject to (by way of illustration and not limitation) setoff _ ti or counterclaim which the city, or M participant may have ,', for erroneous contributions to gLny other trust funds or for gny other liability of any employee, the city, the trustees or another person. (b) Contributions to the fund shall be paid to the trust fund or to such depository as the trustees shall designate, only by check bank draft or money order, or its equivalent. Sec. 16-102A. Same —Receipt of pgyment and other properly of trust. The trustees or such other person or entity designated or appointed by the trustees_ in accordance with section 16-72A are hereby designated as the persons to receive the pUments Temp. Ord. No. 1873 08/24/99 Page 37 made to the trust fund by the cif and participants. The trustees are hereby vested with all right, title and interest in and to such monies and all interest, which may be accrued thereon, and are authorized to receive and be 12aid the same. Sec. 16-103A. Same --Collection and enforcement of pgyments. The trustees. or such committee of the trustees as the board of trustees shall appoint, shall have the power to demand, collect and receive city and participant payments and all other money and property to which the trustees may be entitled. The trustees or such committee of the trustees shall hold such payment until the payments are applied to the purposes provided in this trust agreement. They shall take such steps, including the institution and prosecution of, or the intervention in such legal or administrative proceedings, as the trustees in their sole discretion determined to be in the best interest of the trust fund for the purpose of collectingsch payments, money and property. Sec. 16-104A. Cily has no right, title or interest. The city, any_participant or beneficiary shall not have any right, title or interest in or to the trust fund or anypart thereof. Participants and beneficiaries shall have the right of vesting under the pension plan and a pension or other benefit for which a participant or beneficiary is entitled under the terms and conditions set forth in the pension 121an. There shall be no pro rata or other distribution of any of the assets of the trust fund as a result of any group, of employees or participants and their beneficiaries ceasing their participation in this trust fund for anypurpose, except as required by state or federal law. Sec. 16-105A. Limitation upon beneficial rights of employees. All benefits shall be free from the interference and control of any creditor, and no benefits shall be subject to any assignment or other anticipation, nor to seizure or to sale under any legal, equitable or an other process. Sec. 16-106A ARTICLE IIIA. FIREFIGHTER PENSION PLAN Sec. 16-107A DIVISION 1A. GENERALLY Secs. 16-108A - 16-125A. Reserved. Temp. Ord. No. 1873 08/24/99 Page 38 See. 16-126A. Definitions. The following words, terms and phrases, when used in this article. shall have the meanings ascribed to them in this section except where the context clearly indicates a different meaning: Actuarial equivalence or actuarially equivalent means that any benefit payable under the terms of this vlan in a form other than the standard form of benefit for participants shall have the same actuarial present value on the date pUment commences as such standard form of benefit. For the -purposes of establishing the actuarial present value of an form of pument, all future payments shall be discounted for interest and mortality by using seven -percent interest and the 1983 Group Annuity Mortality Table, with ages set ahead five (5) years in the case of disability_ retirees. Avera a anal compensation means one -twelfth of the average annual compensation, defined as total cash remuneration paid for services rendered to the city, of the five S highest ears of service prior to the employee's normal retirement date or prior to the employee's voluntM discontinuance of participation -in the lan. Board of trustees means the trustees designated in this cha ter and an successor trustees selected as provided herein acting in a group as the administrator of this pension plan. Covered employment means service for which an employee is obligated to pay contributions to this pension plan. Firefighter means any person employed by the city who satisfies the definition of firefighter in section 175.032 $ F. S. Married means a Participant who is married on the date of receil2t of ension benefits. A participant shall also be considered married: 1 If the participant dies before receil2t of such benefits but the varticipant was married on the date of the participant's death,• or (2) To the extent provided under a qualified domestic relations order. MaterniU or paterniU leave means a participant's absence from work by reason of: 1 The t)regnancy of the artici ant• 2 The birth of a child of the artici ant' Temp. Ord. No. 1873 08/24/99 Page 39 3 The pLacement of a child with the participant in connection with the adoption of such child by the participant, or (4) The caring for such child by the participant for a_period beginning immediately following such birth or placement. Creditinja hours of leave: Solely for purposes of determining whether a break in service has occurred and not for purposes of vesting or benefit accrual a artici ant who is absent from work in covered employment due to matemity or paternity leave shall be credited with the hours of service which otherwise would norinalIX have been credited to the artici ant but for such absence not to exceed three 3 months' hours per plan year. Crediting period: The hours of service absent from work due to maternity or paternitv leave shall be credited solely for purposes of excusing a break in service: 1 Durin the plan year in which the absence began if the creditin of those hours is necessa to revent a break in service in that plan year; or 2 In all other cases in the next following plan year. Pension or pension benefit means an early retirement benefit a normal retirement benefit or a disability retirement benefit. Pension lan means the city Firefighters' pension Dlan. Plan ear means the twelve-month period from October 1 to the following September 30, Retirement or retired means the complete withdrawal of a pqqLcipant from any further employment as an employee, paid consultant or independent contractor of the city. Service means years and com leted months of continuous uninterru ted employment as a full-time firefighter of the city: U ) For the performance of duties; (2)For reasons other than the performance of duties, includinyans, holidays, temporM disability, illness duty, militM duty, administrative leave aid leave or approved leave of absence; 3 As the result of back-payback-pqy being awarded or agreed to by the city (irres ective of mitigation of damages). Temp. Ord. No. 1873 08/24/99 Page 40 Non -covered em to ment: A person who is paid, or entitled to payment. by the city shall also be credited with service for pUMoses of participation, vesting and breaks in service but not for benefit oses based upon service in non -covered ern rodvithat the person worked for the city in covered employment inunediatelv before or immediatelv after the non -covered employment. and further provided that no resignation, discharge or retirement occurred between the covered employment and the non -covered employment. Determination of amount of service: The amount of service shall be ascertained from the most accurate records available including records of hours work shifts,. -days or weeks for which payment is made or owing, as reported to the board of trustees. Crediting period: Service shall be credited for each year for which duties were mrformed. or if no duties were perfonned then during the year for which the a ment relates. Vested means a nonforfeitable right to a pension benefit under this pension plan. Sec. 16-127A. Submission of claims notices and in uiries. All claims for benefits elections for a s ecific form of benefit notices of reem to ment notices of re -retirement verifications of retirement notices of mailin address notices of a De and all other in uiries and matters concerning the pension plan shall be submitted to the board of trustees addressed as follows: Secretary City of Tamarac Firefighters' Pension Plan 7525 N.W. 88th Avenue Tamarac Florida 33321 Sec. 16-128A. Response to claims and inquiries. All inquiries shall be answered rom tl . The final decision fora roval of benefits shall be made by the board of trustees. Sec. 16-129A. Denial of benefits. If any claim for benefits is denied suspended or terminated in whole or in art then the claimant shall be furnished with a notice of denial suspension or termination no later than thirty 30 da s after the final decision has been made. The notice shall be provided in writing. b certified mail, and shall set forth: Temp. Ord. No. 1873 08/24/99 Page 41 (1) The specific reasons for the denial, suspension or termination of benefits; (2)The specific references to o pertmentprovisions o thepension plan „upon ,which the action is based and a copy of the pension plan provisions shall be furnished with this notice, (3) A description of any additional material or information necessary for the claimant to perfect the claim, along with an explanation of why Such material or information is necessar •and (4) An explanation of the claims review procedure. Sec. 16-130A. Claim review procedure. (a) Requests for review. If a claim for benefits is denied_ suspended or terminated, in whole or in part, then the claimant may appeal to the board of trustees for a full and fair review. In order to file an appeal, a written notice of appeal must be submitted within sixty (60)_ days after the notice of denial, suspension or termination is received by the claimant (or such later time as the board of trustees deems reasonable). The notice of appeal shall briefly describe the grounds upon which the appeal is based and shall be signedy the claimant. The claimant shall be allowed to review all pertinent documents during normal business hours, and shall be permitted to submit comments and a statement of issues for consideration b the he beard of trustees.W ^ (b) Representation. A claimant may designate an attorney or any other duly authorized person to act as his or her representative at_any stage of the claims review procedure. Any rights provided to the claimant during the claims review procedure shall automatically extend to the representative designated_by the claimant. A designation of representative shall be in writing, signed by the claimant and the representative, and submitted to the board of trustees. c) Claims review board. The board of trustees shall rule on all appeals brought under this section. A decision to grant or deny an appeal shall be based solely on the record before the board of trustees unless the board of trustees determines in its sole discretion that a hearing is necessary for the proper resolution of the appeal. The board of trustees shall decide, by majority_ vote, to grant or deny an appeal. The final decision shall be made by the board of trustees, in writing and shall be made no later than sixty 60 da s after receipt of the notice of ap2eal, unless special circumstances such as the need for a hearing) re uire an extension of time. In no event, however, should the decision of the board of trustees be made later than one hundred twenty (,120) dUs after receipt of the notice of appeal. If an appeal is denied, in whole or in part, then the decision shall set forth the specific reasons for the action, with specific references to those pension plan provisions upon which the decision is based. The claimant shall be promptly_ Temp. Ord. No. 1873 08/24/99 Page 42 provided with a copy of this decision. The decision of the board of trustees shall be final and binding. Sec. 16-131A. Exhaustion of claims review procedure. No . action in law or in equity shall be brought to contest a denial, suspension or termination of benefits, until the claimant has complied with the procedures provided in section 16-130A, unless the board of trustees fails to render a decision as provided in 16-130A(c). In no case however, shall any action be brought unless instituted within one 1 year from the time the claimant received the notice of denial, suspension or termination provided in section 16-129A. Sec. 16-132A. Funding generally. The plan shall be funded by contributions from participants, contributions from the city and the, amount derived from the premium taxes provided in section 175.101 F. S. and other income sources as authorized by applicable law. Monies received in accordance with. section 175.101, F. S., shall be used for firefighters only_ Sec. 16-133A. Participant contributions. (a) All firefighter participants shall make regular contributions at the rate of five (5) percent of total cash remuneration paid for services rendered to the city before April 1 1998 and at the rate of eight and one-half (8-1/2) percent of total cash remuneration paid for services rendered to the city on and after April 1, 1998, which shall be deposited in the fund each_pu period. The city shall assume and pqy participant contributions for firefighter employees in lieu of payroll deductions from participants' earnings. No participant shall have the option of choosing to receive the contributed amounts directly instead of havingthem hem paid by the city directly to the fund. All such contributions by the city shall be deemed and considered as a part of the participant's accumulated contributions and subject to all provisions of this plan pertaining to accumulated contributions of members. This city icku of contributions is the result of a five -percent reduction of each participant's base pay and of base pay levels which occurred on October 1, 1986, and an additional three and one-half (3-1/2) percent reduction of each participant's base pqy and of base pM levels which occurred on April 1 1998. The city icku of such employee contributions is intended to comply with section 414 h 2 of the Internal Revenue Code. (b) In addition to the foregoing, each firefighter participant, as of October 27, 1993, and continuing through March 31, 1998, also made additional contributions_ of two and seventy-four one hundredths (2.74) percent of the total cash remuneration paid for services rendered to the city. Temp. Ord. No. 1873 08/24/99 Page 43 (c) If a participant has not made contributions for any period of covered service because the previous plan did not permit contributions or benefit credits for service after normal retirement Me, the participant must 12U retroactive contributions for that period in order to receive vestiniz credit for that period. Such retroactive contributions shall be made over a period of time equal to the period of time for which contributions were not made unless the participant selects a shorter period. All retroactive contributions due must be paid in full prior to retirement. Sec. 16-134A. State contribu The fund shall receive the premium taxes collected and disbursed by the state insurance commissioner and treasurer_ pursuant to sections 175.101 and 175.121 F. S. Such monies shall be deposited into the fund within five (5) days of receipt in accordance with section 175.131 F. S., in lieu thereof the city may authorize the Division of Retirement (DOR) to remit such monies directly to the board of trustees of the fund (section 175.121. F. S.)_ Sec. 16-135A. _City contributions. The city, on behalf of participants who are city firefighters, shall contribute to the plan, on at least a quarterly basis, an amount, which will be sufficient to meet the annual normal cost of the plan for said participants. Such amount shall be sufficient to fund any.actuarial _deficiency over a period of not more than thirty (30 ears. The city shall consider the contributions derived from participants and the amount derived from 12remiurn taxes and other income sources as authorized by law in determining said contribution. Sec. 16-136A. Basis of payments from plan. All benefits and expenses shall be paid in accordance with the provisions of this pension plan and the trust a r� eement and consistent with state statutes and the Internal Revenue Code. Sec. 16-137A. to Sec. 16-146A. Reserved Sec.16-147A. Construction. The terms and conditions of this pension plan shall be construed subject to the purposes and provisions of the ordinance and declaration of trust establishing the plan, by the Board of Trustees in their sole discretion subject to state law, the Internal Revenue Code and all other applicable laws. 1 Temp. Ord. No. 1873 08/24/99 Page 44 Sec. 16-148A. Standards of proof. The board of trustees shall be the sole judge of the standards of proof required in any case. In the a lication and inte retation of this pension plan, the decisions of the board of trustees shall be final and binding on the participants and beneficiaries the city, and all other persons. See._16-149A. Benefits not assignable. (a) The right of any person to any payment under this pension plan shall not be subject to assignment, alienation or voluntary or involuntary transfer, and, to the fullest extent permitted by law shall not be subject to attachment, execution, garnishment, sequestration or other legal or equitable process. If any person attempts to assign, transfer or dispose of such right, or if an attempt is made to subiect such right to such process, such assignment, transfer or disposition shall be null and void. b Eligible rollover distributions: (1) This subsection applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this subsection, a distributee may elect, at the time and in the manner prescribed by the board of trustees to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover_ (2) Definitions: a. 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 distribution does not include: any distribution that is one (1) of a series of substantially equal periodic payments (not less frequently than annually_) made for the _life _(or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficim,�or for a specified l2eriod of ten 10 ears or more,• an distribution to the extent such distribution is required under section 401 a 9 of the Code,• and the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities), 1 Temp. Ord. No. 1873 08/24/99 Page 45 b. Eli ible retirement lan: An eligible retirement plan is an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section„ 408(b) of the Code, an annuity plan described in section 403(�;) of the Code or a qualifiedtrust 1(a) of the Code, that accepts the distribute described in section 40 e'sT_ eligible rollover distribution. However, in the case of an eligible rollover distribution to the surviving spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. C. Distributee: A distributee includes an employee or ,former employee. In addition, the employee's, or former employee's surviving spouse and the employee's or former employee's., spouse or former spouse who is.. the alternate paLee under an income deduction order are distributees with regard to the interest of the spouse or„former spouse. d. Direct rollover. A direct rollover is a payment by the tan to the eligible retirement plan specified by the distributee. See.16-150A. Forfeitures. Forfeitures and dividends shall not be used to increase the benefits that an artici ant would otherwise receive under the pension plan.at any time prior to the termination of the ension plan or the complete discontinuance of contributions to the pension 121an, but shall be anticipated in determining the costs under the pension plan. Sec.16-151A. Merger. This pension -plan shall not merge or consolidate with anv other pension elan. nor transfer env assets or liabilities to an, other plan unless each participant in this pension plan will receive a benefit immediately after such merger, consolidation or transfer (if the pension plan then terminated) which is at least a ual to the benefit the participant was entitled to immediate) before such merger, consolidation or transfer (if the pension plan had terminated). See. 16-152A. Termination of„pension _plan. In the event of termination of the pension lap the board of trustees shall follow the procedures contained in section 175.361 F. S. the Internal Revenue Code and all other applicable laws. 1 Temp. Ord. No. 1873 08/24/99 Page 46 Sec. 16-153A. Incorporation by reference. This pension plan is maintained for the exclusive purpose of providing benefits to participants and beneficiaries and is intended to satisf all the requirements- of the state statutes and the Internal Revenue Code. If any requirements of such laws have been omitted, they shall be deemed to be incorporated herein by reference. Sec. 16-154A. Amendment of pension plan. This 12ensigUlan ma be amended at any time by majority vote of the board of trustees as provided in 16-66A and the city commission prospectively or retroactively, provided that such amendment complies with Cha ter 175 F. S. the Internal Revenue Code all other 012licable laws, and the purposes as set forth in the ordinance and declaration of trust. Additionally, not by way of limitation, the board of trustees may amend this pension plan when it is deemed necessary to maintain its tax-exempt status, or to preserve compliance with the state statutes, the Internal Revenue Code, and all other applicable laws. However, no amendment which reduces the accrued benefits of M participant shall take effect. Sec. 16-155A DIVISION 2A. ADMINISTRATION Secs. 16-156A. - 16-170A. Reserved. Sec. 16-171A. Board of trustees. The board of trustees created in section 16-56A shall administer and control the operation of this pension plan in accordance with the provisions of this pension plan, the declaration of trust, this chapter, Chapter 175 F. S. and other applicable state law. The board of trustees, or any other person to whom the board of trustees may allocate or delegate such authority, shall, from time to time establish rules for the interpretation, application and administration of the pension plan. In making any such determination or rule, the board of trustees shall pursue uniform policies and shall not unreasonably discriminate in favor of or against, any_person .or group of persons. Sec. 16-172A. Claim for benefits. al Advance claim reauired. In order to receive a benefit under thispension plan, a claim for benefits must be submitted, in writing, and shall be made on a duly prescribed form containiniz the information required in this section. A claim for benefits must be filed before an benefits are payable. After.a participant dies, a claim far survivor benefits, if applicable., must be filed within one (1) year of the death of the participant. Temp. Ord. No. 1873 08/24/99 Page 47 (b)nformation required. All participants and beneficiaries shall furnish such information as the board of trustees considers necessaKy or desirable for the purposes of administering the plan. This shall include the expected date of retirement of the participant, the marital status and proof of date of marriage of the participant, proof of Age of the participant and any designated beneficiaries, and date and proof of death if a claim is filed for a survivor annuity or a death benefit. If proof of age is not submitted as required, other information may be used, as the board of trustees deems reliable. Any adjustment required by reason of lack of proof, or misstatement of asze, shall be made in such a manner, as the board of trustees deems a uitable. Benefits provided under this plan are conditioned upon the furnishing of such true and complete information as may be needed. The board of trustees and an other persons involved in the administration of the plan shall be entitled to ,rely„ upon any certification, statement or representation_ made by a participant or beneficiary with respect to age, martial status death of the participant, or other facts require to be determined under an of the provisions of the 12ension plan, and the board of trustees shall not be liable on account of the payment of any monies or the commission of anv act or failure to act. in reliance thereon. Sec. 16-173A. Multiple claims, Once the board of trustees has approved a claim for pension benefits, no her claims for a pension benefit shall be permitted. Sec. 16-174A. Notification of mailing address. (a) All participants and beneficiaries shall file with the board of trustees, from time to time, in writing, their mailing address and each change of address. Failure to submit such mailing address may result in the payment of benefits being delayed. b Any check representing a ment hereunder, and any communication addressed to a participant, beneficiary or other person, at the last address on the records of the board of trustees, shall be binding on such persons for all purposes of this pension plan. (c) If the board of trustees is in doubt whether payments are being received by the person entitled thereto, it may notify_ such person, by certified mail at the last known address, that all Dqyments of benefits shall be withheld until the board of trustees is provided such information as it deems necessary. Sec. 16-175A. Benefits payable to minors and incompetents. Ua Whenever any person entitled to payments under this pension plan_ is a minor, under a legal disability or, in the sole judgment of the board of trustees, is otherwise unable to Temp. Ord. No. 1873 08/24/99 Page 48 care for their affairs in their own best interest and advantage whether because of illness accident incapacityincgpacity or other mental or physical condition the board of trustees mgy direct that all or gny portion of such pqyments be made in any of the following was unless a claim has been made by a legal guardian, tutor, conservator, committee or other duly appointed legal representative, in which event payment shall be made to such representative): 1 To the spouse. child arent or other blood relative to be ex ended on behalf of the person or on behalf of those dependents as to whom the person has the duty to suport); 2 To a recognized charity or govemmental institution to be expended for the benefit of the beneficia or for the benefit of those dependents as to whom the Derson has the duty_to support); or 3 To such other persons, organizations or institutions as the board of trustees deems a ro riate to provide for the care and benefit of the person or for the benefit of those dependents as to whom the person has the duty to support). b The decision of the board of trustees shall be final and bindinja upon all persons. After such decision the board of trustees shall not be obliged to see to the propera lication or expenditures of any, payments so made. Sec. 16-176A DIVISION 3A. CREDITED SERVICE Secs. 16-177A. - 16-190A. Reserved. Sec. 16-191A. Participation. La) A person shall become a participant on the first day of service. Each full-time firefighter employee of the city shall be a participant in the 121an. b A i2erson shall remain a participant until the earlier of: 1 Tenninatina service prior to earning a vested benefit and vrior to reachinja normal retirement a 2 All benefits have been paid to the participant-, or Q) The person dies. Temp. Ord. No. 1873 08/24/99 Page 49 See. 16-192A. Vesting schedules., a Early retirement benefit. A participant shall have a one -hundred -percent 100% vested right to an early retirement benefit upon earning ten 10 vesting credits. (b) Normal retirement benefit. A participant shall have a one hundred percent vested right to a normal retirement benefit upon: (1) Earning five (5) vesting credits; -and 2 Reaching normal retirement age; or (3) The termination or partial p termination of this pension plan (to the extent funded as of such date). Sec. 16-193A. Vesting credits. A participant shall earn one (1) vesting credit for each year of service. A participant mu lose vesting credits as provided in section 16-196A et seq. The total number of vesting credits earned and retained shall determine whether a participant has a vested right to a pension benefit. Sec. lb_ 194A. Limitation on changes in vesting schedules. No amendment shall reduce a participant's vested right to a normal retirement benefit at the time such amendment is adopted or. if later. at the time such amendment is effective. Sec. 16-195A. Vesting of benefits. No participant, beneficiary or other person shall have any vested right to a pension benefit unless the participant has met the requirements for vesting as provided in this division. Sec. 16-196A. Breaks in service. (a) A break in service shall occur when a participant is no longerployed by the city as a full-time firefighter employee. However, no credits shall be lost except as provided in section 16-197A. (b) A break in service shall not occur if the participant is not employed due to the participant: E Temp. Ord. No. 1873 08/24/99 Page 50 1 Enterin into the Armed Forces of the United States rovided the Person returns to work in covered employment within the period of time provided in the Uniformed Services Employment and Reemployment Rights Act (USERRA), (2) Becoming employed by the city in non -covered employment, (3) Being absent from work due to maternity, ,or paternity leave as defined in section 16-126A or due to unpaid leave of absence approved by the city-, or (4) Becoming temporarily totally disabled or receiving_a _disability_ benefit from the plan. (5) Terminating employment with the city and becomingre-employed by the city within five (5) years of termination provided that the employee did not receive a refund of the employee's accumulated contributions. Sec. 16-197A. Loss of credits. A uarticibant who is not vested shall lose all vestinp- credits earned to date if the participant suffers a break in service before earningfve (5) vesting credits. However, a participant will receive vesting credit for time spent in the military service of the Armed Forces of the United States or the United States Merchant Marine while on official leave of absence provided that the requirements of Section 175.032 (4) (d), F. S., have been met. Sec. 16-198A. Refund of contributions. A participant who is not vested and suffers a break in service shall receive a refund of the participants' accumulated contributions 12lus interest at the rate of five percent 5%per annum. A participant who is vested and suffers a break in service may elect to receiv_e_a refund of the participant's accumulated contributions in lieu of any other benefits from this plan. If a participant accepts such a refund of accumulated contributions plus interest, no other benefits shall be due or payable from the plan to the participant. Sec. 16-199A. Re-entry into .plan. (a) A person who has been paid a refund of accumulated contributions and subsequently is re-em to ed by the city and earns My vesting credits under the pension plan rngy repay to the pension plan the accumulated contributions previously receivedplus interest on that amount at Temp. Ord. No. 1873 08/24/99 Page 51 the actuarially assumed interest rate, compounded annually, or such other amount as prescribed in section 411 (c) (2) ((d) of the Internal_ Revenue Code. (b) Upon repayment of the refunded accumulated contribution, plus interest, the participant shall be credited with all vesting credits previously lost and there shall be no reduction in the value of any subsequent benefit by the value of the accumulated contributions previously refunded. (c) A participant who is vested and terminates employment ten_00) or more years before early retirement ent age shall have the option to receive, in a singlep sum, the actuarial , „ present nt value of the participant's vested benefit in full satisfaction of all benefits due to said participant from the plan. Application for such a benefit must be made within forty-five (4Q da s of the participant receiving a notice from the plan showing the value of such benefit and must be accompanied by the consent of the participant's spouse. Upon receiving this benefit, the participant shall lose all vesting credits, no longer be entitled to any further benefits from the plan, and be regarded as a new employee should the participant thereafter be re-employed by the city. Sec. 16-200A DIVISION 4A. BENEFITS Secs. 16-201A.-16-215A. Reserved. Sec. 16-216A. Right to pension benefits. A pension benefit shall be payable if the participant: (1) Has a vested rightpension benefit; 2 Has reached the applicable retirement age; (3) Has retired, -and 4 Has filed a claim for pension benefits. Sec. 16-217A. Early retirement age. The early retirement age shall be the first day of any. month on which or after a participant has earned twenty-five 25 vesting credits or has earned ten 10 vesting credits and attained fifty 50 ears of age. Temp. Ord. No. 1873 08/24/99 Page 52 See. 16-218A. EarLy retirement benefit. The early retirement benefit shall be the benefit level provided in section 16-233A et sec. Actuarially reduced to take into account the participant is younger age and the earlier commencement of retirement income benefits but in no event,_ shall_ the ,may retirement reduction exceed three percent 3% each year or, for firefighter participants with twenty-five (25) or more vesting credits, reduced by three percent (3%) for each year by which the participant is younger than the normal retirement age for the participant on the effective date of the early retirement. See. 16-219A. Normal retirement age. The normal retirement ajae shall be the first day of the month on after which the participant attains five (5) vesting credits and fifty-five (55)years of age or attains fifty-two (52) years of age with twenty-five (25) vesting credits. See. 16-220A. Normal retirement benefit. The normal retirement benefit shall be the benefit level provided in _section _16-233A_et See. 16-221A. Forms of benefit payments. A particij2ant who has a right to receive a pension benefit as provided in section 16-216A shall automatically be paid the standard form of benefit payment, which is ten 10ears certain and life unless a timely election is made to receive an optional form of benefit Dqyment. See. 16-222A. Standard benefits. The standard ension benefit shall be ten 10 ears certain and life. See. 16-223A. Optional benefits. Optional benefits are: 1 Single life annuity. Any participant mLay file an election to receive monthly a meats for life. (2) Any other actuarially equivalent benefit approved by the board of trustees or provided by section 175.171 F. S. et seg. Temp. Ord. No. 1873 08/24/99 Page 53 Sec. 16-224A. Election of optional benefits. a Manner of electing optional benefits. Optional forms of benefit pqyments shall only be puable if a timely election is made. Such election must be in writing. sijzned by the participant, on a form provided by the board of trustees. b Designation of beneficiary, Each DartiCiVant may, on a form provided for that u ose signed and filed with the board of trustees designate a beneficiM or beneficiaries to receive the benefit if any, which ma be a able in the event of the artici ant's death,• and each designation mqy be revoked by such partiCiDant by signine and filing with the board of trustees a new desi nation-of-beneficia form. A participant m!qy from time to time change their designated beneficiga in such manner as provided in section 175.171 (1)(cl F. S. c Failure to name beneficiary, beneficiary redeceases participant If a deceased participant failed to name a beneficiaKy in the manner prescribed in subsection b or if the beneficia1y or beneficiaries named by a deceased participant predeceased the participant, the death benefit if any, which mgy be pgyable under the plan with res ect to such deceased participant mgy be paid, in the discretion of the board of trustees either to: 1 The spouse or dependent children of the participant,• or 2 The dependent living parents of the participant; or (3) The estate of the participant. d Time limits. Any optional form of benefit pUment must be elected prior to commencement of benefits from this pension i2lan and is subject to change as provided.in section 16-225A(b). Sec. 16-225A. Revocation of election. a An election of a standard or optional form of benefit a ment may be revoked at any time before the first VUment of benefits from this pension plan. Such a revocation must be in writing, signed by the participant. 121 After benefits have commenced a retired artici ant may change her or his desi nation of joint annuitant or beneficia twice in the manner prescribed in section 175.333 F. S. See.16-226A. Reserved Temp. Ord. No. 1873 08/24/99 Page 54 See. 16-227A. Right to disability benefits. (a) Service -connected. A service -connected disability benefit shall be_payable if a participant has suffered a service -connected injury, illness disease or disability which permanently and wholly prevents the participant from rendering useful and efficient service to the city as a firefighter, and has filed a claim for disability benefits within ninety (90) days from the termination of the participant's employment with the city. (b) _Presumption. Any permanent disability, as described in paragraph a) above, which is .the result of or caused by tuberculosis, hepatitis, meningococcal meningitis, hypertension, cancer, hardening of the arteries or heart disease, shall be presumed to have been incurred in the line of duty so as to be service- connected unless a physical examination„ of the participant conducted upon initial hiring by the city revealed that such condition existed at that time. (c) Nonservice-connected. A nonservice-connected disability benefit shall be payable if a participant: (1) a. with two (2) but less than ten (10) vesting credits and has suffered a nonservice- connected injury, illness, disease or disability which permanently_ incapacitates the participant, either mentally or physically, from regular and continuous duty for the city or any other gainful full-time employment; b. with ten (10) or more vesting .credits who has suffered a eons. ervice- connected iniury, illness, disease or disability and is wholly prevented from renderiniz useful and efficient service as such; (2) Has not reached normal or early retirement age; (3) Has filed a claim for social security disability benefits and long-term disability insurance benefits (if offered by the city); 4 Has filed a claim for disability benefits within ninety (90 da s from the termination of the participant's employment with the city. (dam p4 tion. A participant who is eligible for an early normal retirement benefit may, at the participant's option, elect such benefit in lieu of a service -connected disability benefit.. Temp. Ord. No. 1873 08/24/99 Page 55 Sec. 16-228A. Amount of disability benefits. a Service -connected. The monthly service -connected disability benefit shall be: 1 The jareater of the participant's accrued retirement benefit. (2) __ A monthly disability benefit equal to the average monthly compensation paid by the city for the participant's last position and pay step at the time of disability Minus.any disability income benefits actually eceived by the participant from the cit 's long-term disability insurance benefit plan, social securit and workers' compensation (including those portions of lump sum payments that are in consideration for discharge of liability for future wage loss or total disability benefits), provided that (i) the benefit paid by the plan shall not exceed seventy five (75) percent of the participant's average monthly salary at the time of disability for firefighters, and (ii) the benefit paid by the plan to disabled firefighter participants shall not, when combined with any disability benefits actually received by such firefighterparticipant from the city's long-term disability insurance benefit plan and worker's compensation(includingthose hose portions of lump sum payments that are in consideration for discharge of liability for future wage loss or total disability benefits be less than folly -two 42percent of the disabled firefighter's average monthly compensation at the time of disability. Any reduction of the disability benefit provided herein on account of workers' compensation benefits received shall be limited to the amount that the total of the workers' compensation benefit plus the disability benefit payable hereunder exceeds the maximum employee's average monthly compensation at the time of the disability 3) Entitlement to a monthly service -connected disabilitv benefit shall commence on the date of disability and be payable on the first day of the following month and continue to be paid on the first day of each month thereafter until the participant reaches normal retirement age, or should the participant die before reachins normal retirement aae. for at least ten (10) vears, with the balance ayable to the participant's benefici 4) Upon reachine normal retirement aae, the participant's benefit shall be either a normal retirement benefit, with vesting_ credits for each year of service -connected disability benefits and average annual compensation based upon the base wage rates paid by the city Burin the period of the participant's disability for the participant's last position and step, or the benefit amount Temp. Ord. No. 1873 08/24/99 Page 56 provided by subsection (a)(1) or (2) above, whichever is greater, continuing as provided by the retirement benefit option selected by the participant. b Nonservice- connected two but less than ten vesting credits. The monthl nonservice-connected disability benefit for participants with at least two (2) but less than ten (10) vesting credits shall be: _ ___ g y wage rate by monthlydisability benefit e ua to the base wa , m,,,,-_,�. the city _for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by theparticipantfrom the city'.s long term disability insurance benefit plan and social security, provided that the benefit paid bythe plan shall not exceed twenty 20percent of the participant's average monthly salary at the time of disability.. (2) The monthly nonservice-connected disability benefit shall commence on the date of disability and continue until the participant dies or reaches normal retirement age_ 3 Upon reaching normal retirement age, the artici ant's benefit shall be a normal retirement benefit, with vesting credits only for each -year of service prior to the date of disability, continuing as provided by the retirement benefit option selected by the participant. (c) Nonservice-connected. ten (10) or more vesting credits. The monthly nonservice-connected disability benefit for VArticiRants with at least ten Q0 xgAt-i—ng credits shall be: (1) The greater of the participant's accrued retirement benefit. 2) A monthlv disability benefit eaual to the average monthlv compensation paid by the city for the participant's last position and pay step at the time of disabilitv minus anv disability income benefits actually received by the participant from the city's long term disability insurance benefit plan and social security, provided that the benefit paid by the plan shall not exceed thirty-five (35) percent of the participant's average monthly_ compensation at the time of disability and provided further that the benefit paid by the plan to disabled participant from the city's long term disability insurance benefit plan and worker's. compensation (including those portions of lump sum payments that are in consideration for discharged of liability for future wage loss or total disability benefits) shall not be less than twenty-five (25) percent of the disabled firefighter's average monthly compensation at the time of disability. Temp. Ord. No. 1873 08/24/99 Page 57 (3) The monthly nonservice- connected disability,, benefit shall commence on the date of disability and continue until the participant reaches normal retirement age or if the participant dies before reaching normal retirement, age, for at least ten (,10) ,years, with the balance payable to the participant's beneficiary, (4) Upon reaching normal retirement age, the participant's benefit shall be either a normal retirement benefit with vesting credits for each year of service prior to the date of disability or the benefit amount provided by„subsection (c) (1) or (21 above, whichever is greater, continuing as provided by the retirement benefit option selected by the participant. (d) Increase in benefits. A participant's monthly disability benefit under this plan shall be increased if the monthly base wage rate paid by the city for the participant's last position and Vgy step is increased while the participMt is receivin a disabilit benefit rovided that the total disability benefit paid by the plan shall never exceed the applicable maximum limits set forth above. Sec. 11-229A. Determination of disabili . a Initial determination. The board of trustees May consider reports of physicians, and social security, workers' compensation and Veterans Administration disability_ determinations in determining whether a participant is disabled; however, such reports and determinations shall not be binding upon the board. The board may also require the participant to be examined, at the plan's expense, by physicians and other medical, vocational and rehabilitation professionals selected by the board whose reports may be considered by, but shall not be binding upon, the board in determining disability. The board shall determine eligibility for disability benefits within sixty 60 da s after all required documentation and rel2orts have been submitted to the board. b) Continuinir review. The board may review the status of each disability benefit recipient once each year. The board ma in its sole discretion require disability benefit recipients, as a condition of continued payment of disability benefits, to subunit Physician's reports, submit to examinations at the lan's expense, by physicians or other medical vocational or rehabilitation professionals. Should a disability benefit recipient not submit such physician's reports or to such requested examination the board of trustees mqy, after notice to the disability benefit recipient, suspend the disability benefit paid to such participant until such recipient has fully complied with the obligations of this section. 1 Temp. Ord. No. 1873 08/24/99 Page 58 See.16-229.5A. Subrogation. (ateThe pennon plan has a right of_subrogation against any third -party tortfeasor or _ p y o the extent that the pension plan insurance carriers representing such third -party tortfeasor, t becomes obligated to make any disability benefit payments to the participant as a result of injuries caused by the third -party tortfeasor. b A participant shall execute a subro ation a reement on a form provided by the pension board or such other documents which may be necessary to document the pension plan's subrogation rights. The participInt shall notif the pension board of anclaim or legal action ^y d shall notify the,pension board asserted against any fart or insurance carrier or such injuries an of the name and address of such party and any insurance carrier. The participant shall take no action inconsistent with the requirements of this section, nor settle any claim without obtaining the prior consent of the pension board. (c) The pension Alan's subrogation rights shall not be subject to equitable distribution or to any reduction for costs or attorneys' fees_ incurred by the participant in pursuit of his/her claim a ainst athird-party tortfeasor or an insurance carrier. Further, the pensionIan's subrogation rights shall not be subject to reduction regardless of whether the participant recovers the full value of his/her claim against a third -party and/or any insurance carrier. (d) In the event that the participant fails to execute a subrogation agreement, or otherwise fails to comply with the terms of this section, then such shall be considered a breach of this pension plan and disability pension benefits may be denied and/or discontinued_b,, the pension board upon a uniform and nondiscriminatory basis. Sec. 16-230A. Recovery from disability. a) Recovery and reemplovment by city. If a service -connected disabilitv benefit recipient recovers the board of trustees shall request the city to reinstate the participant to his/her former position although the city is not required to do so, and if the participant resumes or declines an offer of such emplovment with the city. the particil)ant's disability benefit will be discontinued. (b) Recovery from nonservice-connected disability and reemployment by another employer. If a firefighter nonservice-connected disabilit reci Tent recovers so as to be able to render useful and efficient service as a firefighter, the participant's disability benefit shall be discontinued. I Temp. Ord. No. 1873 08/24/99 Page 59 (c) Vesting credit during disability. A recipient of aservice-connected disability „ benefit who has recovered and returned to work shall receive full vesting credit for all the time during which the participant received a disability benefit. A recipient of a nonservice-connected disabilL benefit who has recovered shall not suffer a break in service for the eriod of the disabilit • however in order to receive vesting credit for the period of disability, the participant must be reinstated by the city and pay into the fund the amount of employee contributions which would have been made during the disabilit had the participant not been disabled lus interest as determined by the board. Sec. 16-230.5A. Duly to cooperate and search for work; reduction in disabilily benefit. Applicants for andT recipients of disability_ pensions must apply for social_ security disability benefits, long-term disability insurance benefits and for service -connected disability, workers' benefits. Applicants must provide the information necessary to support such claims to the insuror or Social Security Administration, diligently pursue such claims_ and submit to appropriate medical examinations requested by such insurors in connection with such claims. Sec. 16-231A. Payment of benefits. (al Frequency ofpayments. Pension benefits shall be paid monthly, (b) Finuayment. The first payment shall begin on the earlier of: (1) The first day of the month on which or after the participant meets the requirements of section 16-216A. (2) April 1 of the calendar year following the year in which the participant attains the age of seventy and one-half (70-1/2), if he retired at an earlier Me. (c) Last payment. The last payment shall be the month coincident with the death of the participant (or survivor, if applicabletor later, depending on the form of benefit selected. Sec. 16-232A. Calculation of benefit amount. a A participant's monthly benefit level is the product of the vesting credits earned multiplied by the monthly benefit level provided in section_16-233A. (b) The actual benefit amount is determined by makingthe adjustment, if _any, for early retirement or late retirement and for the form of benefit which the participant selects. 1 Temp. Ord. No. 1873 08/24/99 Page 60 (c) Cost o} livid adjustment benefit. In any given year in which the pension plan shall recognize an actuarial gain from favorable actuarial experience, the pension plan rnM pay a cost of living adjustment benefit to all participants receiving -a normal retirement benefit, in an amount to be established by the board of trustees which shall not exceed two 2percent of the current retirement benefits paid or payable to participants receiving a normal „retirement benefit during that specific year, and the cost of which shall not exceed the amount of„the aforesaid actuarial gain. Any benefit paid to participants as a cost of living adjustment benefit shall be paid to participants only during_ that specific year, and maw -not be- paid to participants as an accumulation to, or in conjunction with any other benefits due to participants during any prior or subseguent annual period. See. 16-233A. Benefit level. Benefit levels for firefighter participants are: (1) Three (3) percent of average final compensation for each of the first fifteen (15) years of service, four (4) percent of average final. compensation for each of the next ten (10)years immediately following the first fifteen (15)years of service, and three (3) percent of average final compensation for each year of service thereafter; 2 For firefighter employees who served in more than one 1 of the cit 's em to ee classifications and vested in more than one (1) city pension plan: a. Voluntarily, the amount of pension benefit shall be calculated by multiplying the vesting credits earned in each classification by the benefit level for that classification. b. Involuntarily due to transfer to another classification due to physical or mental disability, or the elimination, transfer or merger of the city's-police or fire departments or the contracting out of the work 2erformed by an department, the benefit level shall be calculated by multiplying~ the vesting credits earned for all years of service by the benefit level for the original retransfer classificationprovided that service as a firefighter, police officer and general em to ee shall be accounted for separately and benefits shall be paid accordingly from the gppropriate 2ensionplan. See. 16-233.5A. Minimum benefit amount. The minimum total benefits paid to any_participant and Lint survivor annuitant shall be at least the amount of the participant's accumulated contributions. If after the death of the Temp. Ord. No. 1873 08/24/99 Page 61 participant and survivor and the payment of all benefits due pursuant to this division, the minimum benefit has not been paid, the balance shall be paid to the participant's designated beneficiarLor, if there is no surviving beneficiary, the participant's estate. Sec. 16-234A. Maximum benefit amount. (a).. _A participant may not receive a pension benefit which exceeds the lesser of: (1) One hundred (100) percent of the participant's average compensation for the highest three (3) consecutive years as a participant in the pension -plan; or (2) The maximum amount allowed under section 415 of the Internal Revenue Code, which is incorporated herein by reference. (b) This section shall not apply if: 1) The participant's annual benefit under this pension plan and all other defined benefit plans of the participant's employer does not exceed ten thousand dollars ($10,000.00). (2) The participant does not participate in a defined contribution plan maintained by the employers and (3) The participant has earned ten (10) vesting credits. Sec. 16-235A. Suspension of benefits. a The pqyment of pension benefits shall be suspended for each month a participant works as an employee, consultant or independent contractor of the city. b The board of trustees ma uniformly waive the provisions of this section for such periods of time, as it deems appropriate. Sec. 16-23,6A,. Notice of reemployment and re -retirement. a Retired participants must notif the board of trustees upon returning to an t e of work for the city within thirty (30) days after starting work. Notice of reemployment shall be given on a form provided by the board of trustees. 1 Temp. Ord. No. 1873 08/24/99 Page 62 b A participant must notify the board of trustees upon re -retirement if the participant returns to work for the city after having a claim filed for pension benefits. Notice of re -retirement shall be given on a form provided by the board of trustees. Pension benefits shall be suspended until notice of re -retirement is jaiven. Sec. 16-237A.Advance_ determination of prohibited work. A participant may request, in writing and on a form provided by the board of trustees, an advance determination whether certain work :for the city is prohibited under this pension plan. A written determination shall be Given to the participant within sixty (60) days of the request, unless special circumstances (such as a hearing) require additional time, not to exceed one hundred twenty (120) days from receipt of the request. Sec. 16-238A. Resumption of benefits. (a) Benefit payments shall resume effective by the first day of the month after receipt of the notice of re -retirement or verification of retirement from the participant. (W ,,_„The board of trustees, may deduct twenty-five (25) percent of each month's benefit payment for. benefits previously made which should have been suspended. The first three (3) months are subject to offset without limitation. The board of trustees shall noti the 12articipant of the amount subject to offset, the manner of offset, and the months of work involved. See. 16-239A. Pre -retirement death benefits for vested participants. a Any participant,whether or not still in active emj2loyment, who has a nonforfeitable (vested) right to any portion of the accrued benefit, and who dies prior to the commencement of benefits, shall have a survivor benefit payable on the participant's behalf. The survivor benefit shall be payable to the participant's spouse unless, with the spouse's consent as specified in section 16-241 A, a different beneficiary is designated by the participant. If the deceased participant is not married at the time of death the survivor benefit shall be paid to the participant's designated beneficiary b) The amount of the survivor benefit shall be eaual to fiftv (50) percent of the actuarially equivalent single sum value of the.participant's vested accrued benefit as of the date of death or, of the e uivalent single sum value of the amount the spouse or other beneficiM could have received had the participant retired on the day of death and elected a one hundred 100 ercent joint and survivor annuity, whichever is greater. If this single sum amount is less than five thousand dollar's S 000.00 it shall be j2aid in a lump sum to the spouse or designated beneficiary, as the case may be, as soon as is practicable following the participant's death. If the sin le sum amount exceeds five thousand dollars Temp. Ord. No. 1873 08/24/99 Page 63 ($5,000.00), the benefit shall be paid in the form of an immediate monthly survivor annuity unless the beneficiary and the board agree to an alternative actuarially equivalent form of benefit. See. 16-240A. No death benefit following commencement of benefits except per options. No death benefit shall be payable on behalf of any participant who dies following commencement of retirement benef its except that which is payable by reason of selection of a benefit form prior to retirement under which a death benefit is payable. Disability benefits are not considered retirement benefits. Sec. 16-241A. Spousal consent. With respect to death benefits provided in this article, at any time »rior to the date of death, a participant may file with the board of trustees his/her designation of a beneficiary other than his/her spouse. Any such filing with the board shall not require evidence of spousal consent_ Sec. 16-242A. Involuntary lump sum distributions. If monthly retirement income payable to any participant or beneficiary is less than one hundred dollars ($100.00) or if the singlepresent value of a benefit is five thousand dollars ($5,000.00) and the Vgyment of such benefit has not begun, the board of trustees may, in its sole discretion, pay the actuarial equivalent of such benefit in a lump sum, or in monthly installments, without the consent of the participant or the participant's spouse. Secs. 16-243A. - 16-260A. Reserved. SECTION 8: That Chapter 16, Article IB Police Officers, Article IIB Declaration of Trust, Division 1B Generally, Division 2B Board of Trustees, Division 3B Benefits, Contributions, Article IIIB Pension Plan, Division 1B Generally, Division 2B Administration, Division 3B Credited Service, Division 4B Benefits, be created to comply with Chapter 185 of the Florida Statutes as amended by adding the underlined language as follows: r� Temp. Ord. No. 1873 08/24/99 Page 64 Sec. 16-1B ARTICLE IB. POLICE OFFICERS Sec. 16-2B ARTICLE II B. DECLARATION OF TRUST Sec. 16-3B DIVISION 1B. GENERALLY Secs. 164B.—16-25B. Reserved. Sec.16-26B. Definitions. The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearlyindicatesa different meaning: Administrator means the board of trustees. Beneficiary means a person designated by a participant or by the terms of the pension plan created pursuant to this article, who is or may become entitled to a benefit thereunder. BSO as used herein shall mean the Sheriff of Broward Count Florida. Consultant means any person or entity who, for compensation, advises, represents or provides„ other assistance to the trustees concerning the establishment, or operation of the plan and meets the requirements and definition of section 185.06(5) (b). Contributions means the payments required of the city and the Sheriff of Broward County and those payments made by the state for this fund, or payments made by or on behalf of participants or their beneficiaries_ Custodian means one who is officially entrusted with guarding and keeping records documents and assets of this trust fund. Declaration OL trust means this article including all amendments and modifications as may from time to time be made. Named fiduciary means the board of trustees. Participant means an ensioner or benefici receivingor entitled to receive benefits any person with vested benefits, and any employee who accrues or retains credited service,_in accordance with the provisions of the plan established pursuant to this declaration of trust. Temp. Ord. No. 1873 08/24/99 Page 65 Pension plan or plan means the plan, program, method- rules and procedures for the payment of benefits from the trust fund, which is part of this chapter. R employed e city or any person employed by_„BSO Police o zcer means any person em la ed by the , an July_ 1, 1989 who, on June 30, 1989, was employed by the city and was, on that date, a participant in this plan who satisfies the definition of police officer in section 185;0201), F. S., or is a sworn deputy sheriff of froward County,. Florida. Trustees means the trustees designated in this declaration of trust together with their successors .designed and appointed in accordance with the terms of this declaration of trust. Trust fund. trust or fund means the entire trust estate of the city police officers' pension trust fund as it may from time to time be constituted, including, but not limited to. all funds received in the form of contributions, together with all contracts (including dividends, interest, refunds and other sums payable to the trustees on account of such contracts), all investments made and held by the trustees, all income, increments, earningsprofits therefrom, and any and all otherXropeqX or funds received and held by the trustees by reason of their acceptance of this declaration of trust. See. 16-27B. Creation; purpose. The trust fund is created, established and maintained, and the trustees agree to receive, hold and administer the plan, for the purpose of providing such benefits as now are or hereafter may be authorized or permitted by law for participants and their beneficiaries and in accordance with the provisions set forth herein and in the_pension plan. ^ Sec. 16-28B. Establishment of plan. (a) The trustees and the city commission shall adopt a written pension plan in accordance with state and municipal law wherein the trustees as named fiduciaries shall have the authority to control and manage the operation and administration of the plan in accordance with state and municipal law. Such plan shall provide for the payment of such retirement pension benefits ermanent disability pension benefits death benefits and related benefits as are required by law or feasible and shall include by wU of illustration and not limitation: (1) Conditions of eligibility for participants and beneficiaries, (2) Standards for vesting of benefits; (3) Schedule of the type and amount of benefits to be paid, Temp. Ord. No. 1873 08/24/99 Page 66 (4) A procedure for the payment of benefits in the form of a qualified joint and survivor annuity: 5 Procedures for claiming benefits and for the distribution of benefits,• (6) A procedure for the separate accounting for the portion of each employee's accrued benefit, if any derived from employee contributions; (7) Any procedures for the allocation of authority for the operation and administration of the plan; (8) The basis on which payments are made from the plan. Such pension plan shall at all times comply with all applicable laws. (b) The trustees shall agree by a majority vote of their total number to the plan, which shall then be submitted, to the city commission for enactment as an ordinance. This plan and any_ amendments thereto shall qualify under applicable provisions of the Internal Revenue Code. See. 16-29B. Amendment of plan. The pension plan may be amended by the trustees at any time, provided that such amendments comply with the applicable sections of the then U12licable Internal Revenue Code Cha ter 185 F. S. all other applicable law, and the purposes as set forth in this declaration and are approved by the city commission. Additional, and not by way of limitation, the trustees and the city commission ma amend the pension plan in the future or retroactively where they deem it necessary, to maintain the continuation of the trust fund's tax-exempt status or to preserve compliance with the then applicable Internal Revenue Code, Chapter 185 F. S. and all other applicable law. A copy of each amendment of the pension 121an shall be adopted and filed by the trustees as part of the records and minutes of the trust fund, and copies thereof shall be made available to the 'Participants and their beneficiaries requesting such. See. 16-30B. Controversies and disputes --Submission to trustees. All auestions or controversies of whatever character arising in any manner or between any persons or entities in connection with the trust fund or the operation thereof, which are related to any claim for any benefit by participant or any other person, shall, pursuant to rules and regulations adopted by the trustees be submitted to the trustees and the decision of the trustees shall be final and binding upon all persons dealing with the trust fund or plan, or claiming benefits thereunder. Temp. Ord. No. 1873 O8/24/99 Page 67 Sec.16-31B. Same --Settling. The trustees ma in their sole discretion compromise or settle any claim or controversy in such manner as they think best, and any majority decision made by the trustees in compromise or settlement of a claim or controversy, or any compromise or settlement entered into by the trustees, shall be conclusive and binding on all parties involved in this trust,provided_that all such settlements are in accordance with the pension plan and all applicable state law. Sec. 16-32B. Termination of trust --Conditions. This trust agreement shall cease and terminate upon the happening of any one (1) or more of the following events: 1) If the trust fund shall, in the opinion of the trustees, be inadequate to carry out the intent and pMose of this trust agreement, or be inadequate to meet the puments due or to become due under this agreement and under the plan of benefits to participants and beneficiaries already drawing benefits; (2) If there are no individuals living who can qualify as participants or beneficiaries hereunder; 3 In the event of termination as mqy be otherwise provided by law. See.16-33B. Same --Procedure. In the event of termination the trustees shall: (1) Make provisions out of the trust fund for the payment of any and all obligations of the trust including expenses incurred up to the date of termination of the trust and the expenses incidental to such termination; 2 Arrange for a final audit and report of their transactions and accounts for the purpose of termination of their trusteeship, (3) File all notices or reports in connection therewith as may be required by_ applicable law,• and (4) Distribute the remaining assets in accordance with Section 185.37, F._S., and other applicable law Temp. Ord. No, 1873 08/24/99 Page 68 Sec. 16-34B. ApplicaUfty of state and federal law. This trust is created and accepted in the state and all questions pertaining to the validity or construction of this trust agreement and the acts and transactions of the parties hereto shall be determined in accordance with the laws of the state, except as to matters governed by federal law. Sec. 16-35B. Savings clause. If any provision of this agreement and declaration of trust is held to be unlawful, or unlawful as to any person or instance such fact shall not adversely affect the other provisions herein contained or the application of the provisions to any other person or instance, unless such illegality shall make impossible the functioning of this fund. See.16-36B. Reserved. Sec. 16-37B, Judicial settlements. The trustees shall be entitled, at any time, to have a judicial settlement of their accounts and to seek judicial protection by any action or proceeding they determinenecessga and, further, to obtain a judicial determination or declaratoKy judgment as to any questions relating to the discharge of their duties and obligations under, or in connection with the administration of, this trust and as to the distribution of assets belonging to the trust. Any such determination, decision or judgment shall be binding upon all parties to, or claimingunderythis trust agreement_ Sec. 16-38B. Withholding payment. If anquestions or disputes shall arise as to the proper person or persons to whom an payments shall be made hereunder, the trustees may withhold such_12gyment until there has been made an adjudication of such question or dispute which in the trustees' sole judgment, is satisfactory to them, or until the trustees have been fully protected against loss by means of such indemnification agreement or bond as they, in their sole judgment, determine to be adequate. Sec. 16-39B. Qualification of trust personnel. No erson shall serve as a trustee administrative manager, custodianinvestment manager or consultant to the trust fund or plan or serve in any other capacityc2pacity thereof whether as an agent, officer or employee, unless such person is eligible for service in accordance with applicable law. Temp. Ord. No. 1873 08/24/99 Page 69 Sec. 16-40B. Vesting of rights. No participant, beneficiary or employee or other person shall „have vested interest or right in the trust fund except as provided by the pension plan and state law. Sec. 16-41B. Amendment to declaration. The provisions of this declaration may be amended at any time by instrument executed by a majority vote of the trustees and enacted as an ordinance by the -cily commissionprovided, however, in no event shall the trust fund be used for any purpose other than the purposes set forth in this declaration, and for the purposes of paving the necessary expenses incurred in the administration of this trust. Sec. 16-42. Effective date. This article and Declaration of Trust shall be in full force and effect as of October 1, 1999. Provided further that all participants who terminated employment with the city and had vested benefits in the pension plan at the time of termination shall be governed by the ordinance or ordinances in effect at the time of employment termination from the city. Sec. 16-43B DIVISION 2B. BOARD OF TRUSTEES' Secs. 16-44B.---16-55B. Reserved. Sec.16-56B. Members. a The plan shall be administered by five 5 trustees as follows: (1) Two trustees shall be legal residents of the city, who shall be appointed by the city commission. (2) Two trustees shall be full-time Police Officers, as defined in section 185.02 11 F. S. or retired Police Officers receiving benefits hereunder if no active Police Officer is williniz or available to serve as trustee who shall be elected by a majority of the active police officers who are particij2ants of the plan. 3 One 1 trustee shall be selected by the other four trustees as provided for herein and shall be a ointed as a ministerial act by the city commission. 1 Temp. Ord. No. 1873 08/24/99 Page 70 (4) Each trustee may succeed himself or herself in office and mu also serve on other city boards including the Firefighter and/or the General Employee pension plans. (b) Appointed resident trustees shall serve terms of two (2) years, unless sooner replaced by the city commission_ at whose pleasure resident trustees shall serve. (c)_ _ Elected trustees shall serve terms of two (2) years, unless the trustee sooner leaves police officer employment of BSO or the city, eammeneifiejURS1 ' Af thol _ -Iear- 44 044ig' e4wW. The city clerk shall conduct the elections by secret ballot rior to the expiration of a trustee's expiring term. (d) The fifth member shall have the same rights as each of the other four members appointed or elected as herein provided, and shall serve a term of two (2) years. (e) A vacancy shall occur whenever a trustee resigns, is removed by the city commission is no longer eligible or qualified to serve as a trustee dies or becomes incapacitated_ (1) A vacancy in the office of an appointed resident trustee shall be filled by an appointment by the city commission to serve a new two (2) year term. (2) A vacancy intheoffice of an elected trustee shall be filled by an election in the same manner as an original trustee was elected to serve a new two (2) year term. (3) A vacancy in the office of the trustee selected by the other four trustees shall be filled in the same manner as the original trustee was selected. See. 16-57B. Resignation and removal. A trustee may resign and become and remain fullv discharged from all further dutv or responsibility hereunder upon giving thirty- (30) day notice in writing, to the remaining trustees and, if a resident appointee, to the city commission or such shorter notice as the remaining trustees may accept as sufficient. The notice shall state the date on which such resignation_ shall take effect; and said resignation shall take effect on the datespecified. 1 The city commission mqy a oint a successor resident trustee at an earlier date in which event such resignation shall take effect immediately upon the appointment of such successor trustee. 2 The City Clerk shall conduct an election to replace an elected trustee within the stated notice period. Temp. Ord. No. 1873 08/24/99 Page 71 Sec. 16-58B. Successor trustees; assumption of office. Any successor trustee shall immediately upon appointment or election and acceptance of the trusteeship become vested with all _ the property, rights, powers and „duties of a trustee hereunder with like effect as if originally named a trustee without the necessity of gny formal conveyance or other instrument of title. Sec. 16-59B. Acceptance of trust by trustees. A trustee shall execute a written acceptance in a form satisfactory to the trustees. By executingsuch acceptance, a trustee shall be deemed to have accepted the trust created and established by this declaration and to have consented to act as trustee and to have „agreed to administer the trust fund as provided herein. Such written acceptance shall be filed with the secretga who shall notify the remaining trustees of the receipt of such acceptance. Sec. 16-60B. Limitation of liability. No successor trustee shall in any way be liable or responsible for anythingdone or committed in the administration of the trust prior to the date of becoming a trustee. No trustee ,.._..._ shall be liable_ for the acts or omissions of another trustee to whom certain responsibilities, obligations or duties have been dele ated ursuant to this trust declaration nor shall anX trustee be liable for the acts or omissions of any investment manager, attorney, „agent or assistant __ _ a employed by them. pursuant to this agreement, if such persons performance was periodically reviewed by the trustees who found such performance to be satisfactory. Sec. 16-61B. Location of office of the fund. The principal offices of the trust fund shall be located and maintained in Broward County, at Tamarac City Hall, or at such other locations in *�m fl of T—Ara rag. as the trustees may_ determine. Sec. 16-62B. Officers. The trustees shall elect from among themselves a chairman and a secretary for a term of one (1) year, or until his or their successors have been elected. The secretary shall ensure that minutes and records of all meetings, proceedings and acts of the trustees are maintained and shall, with reasonable promptness, send copies of such minutes and records to all trustees, and legal counsel. Additionally, the secretary shall comply with all requirements of section 185.06(3) F. S. The chairmanand in his absence the vice -chairman.,. -shall preside at all meetings of the trustees and shall be entitled to one (1) vote on all matters. Temp. Ord, No. 1873 08/24/99 Page 72 Sec. 16-63B. Power to act in case of In case of the death, resignation or refusal or inability to act of any one (1) or more of the trustees the remaining trustees shall have all the powers, rights, estates and interests of this trust and shall be charged with its duties, provided that, in such cases there shall be no change „in the quorum or voting requirements established in section 16-66B. Sec. 16-64B. Meetings; notices. The trustees shall meet at least once each quarter and at such other times as they deem it necessary to transact their business. The chairman or the secretary of the board of trustees may, and upon the written request of any two (2) trustees shall, call a_meetingof the trustees at any time by giving at least five Ca days' notice in writingof time and place thereof to the remaining trustees. Notice of such meetings shall be posted or advertised to the public. See.16-65B. Minutes. Written minutes, a copy„ of which shall be furnished with reasonable promptness to each trustee and legal counsel, shall_ be kept of all 1 business transacted and of all matters upon which voting shall have occurred and the vote shall be recorded. Such minutes shall bear the sip -nature of the secretary and shall be approved at the succeeding meeting Sec. 16-66B. Quorum voting action without meeting. (a) A quorum of the board of trustees shall be at least Three (3) trustees. (b) Any action taken by the trustees, except as herein otherwise provided, re uires at least three 3 votes. The trustees must cast their votes in person. Sec.16-67B. Reserved. Sec. 16-68B. Conduct of trust business. The trustees shall have sole and exclusive supervision of the operation of this trust fund and shall conduct the business and activities of the trust fund in accordance with this trust agreement, Chapter 185 F.S. as amended and all other applicable law. The trustees shall hold, manage and protect the trust fund and collect the income therefrom and contributions thereto. The trustees may in the course of conducting the business of the trust execute all instruments in the name of the city employees' pension trust fund. Temp. Ord. No. 1873 08/24/99 Page 73 ec. 16-69B. Use of fund for expenses. The trustees shall have the power and authority to use and apply the trust „fund to pay or provide for the payment of all reasonable and necessary expenses of administering the affairs of this trust, including the employment of such administrative, legal, expert and clerical assistance, the purchase or lease of such materials su lies and a ui ment and the performance of such other acts as the trustees in their discretion find necessary or„appropriate in the performance of their duties. Sec._16-70B. Use of fund to provide benefits. The trustees shall have the power and authority to use and apply the trust fund to pay or provide for the payment of retirement and related benefits to eligible participants and beneficiaries in accordance with the terms, provisions and conditions of the pension plan. Sec. 16-71 B. Investments. (a) The trustees shall have the power and authority, in their sole discretion, to establish investment procedures to invest and reinvest such funds as are not necessary for current expenditures or liquid reserves as the ma from time to time determine. These investments shall be in com liance with Section 185.06 1 b F. S. The trustees ma sell,• exchange or otherwise dispose of such investments at any time and, from time to time, as provided in section 16-76B. The trustees shall have the authority, in respect to any stocks, bonds or other property, real or personal, held by them as trustees, to exercise all such rights, powers and privileges as might be lawfully exercised by any person owning similar stocks, bonds or other property in their own right. (b) Delegation and allocation of investment functions. 1) The trustees are authorized in their discretion to allocate such duties and responsibilities to invest and reinvest such fund assets as they shall specify_ in such allocation to a committee or subcommittee of the board of trustees in accordance with section 16-74B; provided, however, that such action shall have been approved by a majority vote of the trustees as j2rovided in section 16-66B. 2) The trustees shall have the power and authority to appoint one (1) or more investment mana er s who shall be res onsible for the management, acquisition, disposition, investing and reinvesting of such of the assets of the trust fund as the trustees shall specify. The trustees upon written notice may terminate. any such retainer. The fees of such investment manager, and its expenses to the extent Temp. Ord. No. 1873 08/24/99 Page 74 permitted by law, shall be paid out of the trust fund.. The trustees shall require that the investment manager acknowledge in writing that it is a fiduciary with respect to the plan. (3) In connection with any allocation or delegationof investment functions under paragraphs (1) and (2) of this subsection, the trustees shall, from time to time, adopt appropriate investment policies -or guidelines. Sec. 16-72B. Deposits and disbursements. All funds and securities of the trust fund shall be deposited by the trustees in such depository or depositories, as defined in section 280.0202), F. S., as the trustees shall from time to time select, and any such deposit or deposits, or disbursement therefrom, shall be made in the name of the trust in the manner designated and authorized by the trustees appointed in accordance with section 16-71 B _(b)(2). Sec. 16-73B. Allocation and deleeation of non -investment responsibilities. The trustees ma by resolution bylaw or by provisions of this trust agreement, allocate fiduciM responsibilities and various administrative duties to committees or subcommittees of the board of trustees. Additionally, the trustees may, in their sole discretion, retain such independent professionals, technical, or other advisers to assist the trustees . in meeting their fiduciary responsibilities. The trustees may delegate fiduciary responsibilities and duties to such individuals or firms, as they rmy deem appropriate or necessary, and consistent with section 185.06(6 F. S. and other state or federal law. All such costs associated with the retaining o such professional, technical or other advisers shall be paid from the trust fund. However, such action shall have been gapproved by a majority vote of the trustees as provided in section 16-66B. Such delegations or allocations of responsibilities shall not relieve the board of trustees of its responsibility for the sole and exclusive administration of the trust fund. Sec.16-74B. Committees. Each committee or subcommittee shall consist of at least two 2 trustees. A quorum of a committee shall be at least two 2 trustees. Sec. 16-75B. B laws rules and regulations. (a) The trustees are hereby empowered and authorized to adopt bylaws and to promulgate any and all necessary procedures, policies, rules and regulations, which they deem necessary or desirable to facilitate the proper administration of the trust fund provided, that such bylaws or rules and regulations -are not inconsistent with Chapter 185 F. S. and the terms of this trust Temp. Ord. No. 1873 08/24/99 Page 75 agreement. The trustees are hereby empowered and authorized in their sole discretion to construe and interpret this plan and any and all procedures, policies, rules and regulations so adopted or j2romulizated. All bylaws, rules and regulations adopted by action of the trustees shall be binding upon all parties hereto, all parties dealing with the trust fund and all persons claiming any benefits hereunder. (b) No bylaw, regulation, rule, action or determination made or adopted by the trustees shall in any manner conflict or be inconsistent with any_provision of this declaration, or with any_applicable federal, state or local law. Sec. 16-76B. Additional authority. The trustees are hereby_ empowered, in addition to such other powers as are set forth herein or conferred by state or federal law, to: 1) Enter into anv and all contracts and agreements for carrving out the terms of this declaration and for the administration of the trust fund, and to do all acts as they, in their discretion, may deem necessary or advisable and such contracts and agreements and acts shall be binding and conclusive on the parties hereto and on the participants involved; (2) Keep property and securities registered in the name of the trustees or of the fund; 3 Establish and accumulate as part of the trust fund such reasonable reserve funds as the trustees, in their sole discretion deem necessary or desirable to carry out the purposes of the trust fund.; 4 Do all acts whether or not expressly authorized herein which the trustees ma deem necessary or proper for the protection of the property held hereunder; and (5) Sell, exchange, lease, convey or dispose of any property, whether real or personal forming a part of the trust fund upon such terms as they ma deem proper and to execute and deliver at any time any and all instruments of cone ance lease and transfer in connection therewith. Sec.16-77B. Bonds. The trustees shall obtain from an authorized surety company such bonds as may- be required by state or federal law or desired by the trustees covering such persons and in such amounts (but not less than required by law) as the trustees, in their discretion, may determine. The cost of premiums for such bonds shall be paid out of the trust fund. Temp. Ord. No. 1873 08/24/99 Page 76 Sec. 16-78B. Insurance. The trustees may in their discretion obtain and maintain policies of insurance, to the extent permitted by law, to insure themselves, the trust fund as such, as well as ,employees or aizents of the trustees and of the trust fund, while engaged in business and related activities for and on behalf of the trust fund: (1) With respect to liability to others as result of acts, errors or omissions of such trustee or trustees, employees or agents, respectively; and (2) With respect to injuries received or property damage suffered by them. The cost of the premiums for such policies of insurance, including waiver of recourse coverage. shall be paid out of the trust fund. Sec. 16-79B. Information to participants and beneficiaries. The trustees shall provide participants and beneficiaries such information as may be required by law. See. 16-80B. Accountants and actuaries. The trustees shall engage one (1) or more independent qualified public accountant(s) and one (1) or more enrolled actuaries in compliance with section 185.06(6) F. S. to perform . all services as may be required by applicable law and such other services as the trustees may deem necessaly. The costs incurred under this section shall be paid out of the trust fund. Sec. 16-81B. Trustee reimbursement. The trustees shall be entitled to reimbursement for the expenses properly and actually incurred in the performance of their duties with the trust fund and to per diem allowance in amounts established by the board of trustees. Such reimbursement shall include, without limitation, attendance at meetings and other functions of the board of trustees, attendance at institutes seminars conferences or worksho s for or on behalf of the trust fund. The trustees shall comply with section 112.061 F. S., as amended when establishing entitlements to reimbursement for such expenses and per diem allowances. 1 Temp. Ord, No, 1873 08/24/99 Page 77 See.16-82B. Reports. The board of trustees shall make reports to and file such information with appropriate public authorities as mU be required section 185.221 F. S. and other applicable state and federal law. Sec. 16-83B. Records of transactions. The trustees shall keep true and accurate books of account and a record of all of their transactions and meetings (including actions taken at such meetings and by informal action_ of the trustees). Such records and books shall be audited at least annuall ^ by a certified public accountant. A copy of each audit report shall be available for inspection by interested persons at the city hall at reasonable times and after reasonable notice. Sec. 16-84B. Construction and determination by trustees. Subject to the stated purposes of the fund and the provisions of this declaration, and chapter 185 F. S. the trustees shall have full and exclusive authority to determine all questions of coverage and eligibility,eligibifty, methods of providing or arranging for benefits and all other related matters. They shall have full power to construe the provisions of this declaration the terms used herein and the bylaws and regulations issued thereunder. Any such determination and an such construction adopted by the trustees in good faith shall be binding upon all of the parties hereto and the beneficiaries hereof. No questions or disputes arising under this declaration shall be subject to the grievance or arbitration procedure established in any collective bargaining agreement between the city or BSO and any labor organization; provided, however, that this clause shall not affect the rights and liabilitiesof any of the parties under any of such collective bargaining a red _ements. Sec. 16-85B. Liability in acting on documents. The trustees, to the extent permitted by applicable law, shall incur no liability in acting upon an instrument a lication notice request, signed letter, telegram or other paper or document believed by them to be genuine, to contain a true statement of facts and to be signed by the proper person. Sec. 16-86B. Reliance on written instruments. (a) By trustees. Any trustee, to the extent permitted by his fiduciary responsibility and by applicable law, mgy rely u on gLny instrument in writing as conclusive evidence of the fact that a ma'orit of the trustees have taken the action stated to have been taken in such instrument. Where such instrument purports to have been approved by a majority vote of the trustees in Temp. Ord. No. 1873 08/24/99 Page 78 accordance with s i _ ion. 15-68B. In any section 16-C6B an signed m accordance with sect controversy, claim, demand, suit at law or other proceeding between any_participant or any other person and the trustees, the trustees shall be entitled to rely upon any facts appearingin the records of the trustees. The trustees shall also be entitled to relX upon facts a earin in an instruments on file with the trustees, with the city or BSO, any facts certified to the trustees, by the city or BSO, any facts which are of public record and any other evidence pertinent to the issue involved (b) By others. (1) No party dealing with the trustees_ shall be obligated to: a. See the application to the stated trust purposes of any funds or property of the trust fund; b. See that the terms of this declaration have been complied with; or C. Inquire into the necessity or expediency of aLiv act of the trustees. (2) .,,,,, Every instrument executed by the trustees shall be conclusive evidence in favor of even person relying thereon that: a. At the time of execution of the instrument the trust was in full force and effect; b. The instrument was executed in accordance with the terms and conditions of this declaration; and C. The signing trustees were duly authorized and empowered to execute the instrument. c) Reliance on counsel's opinion. The trustees may consult with legal counsel concerning an question which mqy arise with reference to the duties and powers or with reference to any other matter pertaining to this declaration or the trust hereby established. The opinion of such counsel shall be full and complete authorization and protection in respect of any action taken or suffered by the trustees hereunder in good faith in accordance with the opinion of such counsel. The trustees shall not be liable therefor to the extent permitted by applicable law. I Temp. Ord. No. 1873 08/24/99 Page 79 (d) Responsibilities imposed by state law. The provisions of this section shall not relieve the trustees of any responsibilities or obligations imposed by F. S. Chapters 112 185,_or 286 or other applicable laws. Sec. 16-87B. Discharge of liability. The receipt by the trustees of any money or property or checks (after such checks are honored at the bank and paid to the trust fund) shall discharge the person or persons paying transferring the same to the extent of such payment or transfer. Sec. 16-88B DIVISION 3B. BENEFITS, CONTRIBUTIONS Secs. 16-89B. -- 16-100B. Reserved. Sec. 16-101B. Contributions and collections —Employer contributions. a) The city. BSO and narticivants shall make nromot contributions or navments to the trust fund in such amounts and under the terms as are provided for in this chapter and as re uired section 185.11 F. S. and other applicable state or federal law. Such contributions or payments are absolute obligations to the trust fund. Such obligations shall not be subject to (by Way of illustration and not limitation) setoff or counterclaim which the city, BSO or any participant may have for erroneous contributions to any other trust funds, or for and liability of any employee, the cif, BSO, the trustees or any other person. b Contributions to the fund shall be paid to the trust fund or to such depositoly as the trustees shall designate, only by check bank draft or money order, or its a uivalent. Sec. 16-102B. Same --Receipt of payment and other propel,propgly of trust. The trustees or such other person or entity designated or appointed by_ the trustees in accordance with section 16-72B are hereby designated as the persons to receive the Dqyments made to the trust fund by the city and participants. The trustees are hereby vested with all right, title and interest in and to such monies and all interest which mgy be accrued thereon and are authorized to receive and be paid the same. Sec. 16-103B. Same --Collection and enforcement of pUments. The trustees or such committee of the trustees as the board of trustees shall a oint shall have the power to demand collect and receive city, BSO and participant pgyments and all other money and property to which the trustees m!jy be entitled and shall hold the same until applied to the purposes provided in this trust agreement. They shall take such steps, including the Temp. Ord. No. 1873 08/24/99 Page 80 institution and prosecution of, or the intervention in, such leg, -al or administrative proceedings, as the trustees in their sole discretion determined to be in the best interest of the trust fund for the purpose of collecting such payments, money and property. Sec. 16-104B. City has no right, titleor interest. , „ ,,. The city, BSO, any participant or beneficiary shall not have any right, title, or interest in or to the trust fund or_gM part thereof other than vesting under the pension plan and other than a pension or other benefit for which a participant or beneficiary is entitled under the terms and conditions set forth in the pension plan. There shall be no pro rata or other distribution of any of the assets of the trust fund as a result of any group of employees or participants and their beneficiaries, ceasingtheir heir participation in this trust fund for any purpose or reason except as required by state or federal law. Sec. 16-105B. Limitation upon beneficial rights of employees. All benefits shall be free from the interference and control of anv creditor, and no benefits shall be subject to any assignment or other anticipation, nor to seizure or to sale under any legal, equitable or any other process. Sec. 16-106B ARTICLE III B. PENSION PLAN Sec. 16-107B DIVISION 1B. GENERALLY Secs. 16-108B. - 16-125B. Reserved. Sec. 16-126B. Definitions. The followinja words terms and phrases, when used in this article shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning: Actuarial a uivalence or actuarially equivalent means that an benefit a able under the terms of this plan in a form other than the standard form of benefit for participants shall have the same actuarial resent value on the date pUment commences as such standard form of benefit. For the 12uMoses of establishing the actuarial present value of any form of pgyment, all future payments shall be discounted for interest and mortality by using seven -percent interest and the 1983 GrogAnnuity Mortality Table with ages set ahead five 5 ears in the case of disability retirees. 1 Temp. Ord. No. 1873 08/24/99 Page 81 Average final compensation means one- twelfth of the average annual compensation, defined as total cash remuneration paid for services rendered to the city, to BSO,_ or to both, of the five (5) highest years of service prior to the employee's normal retirement date or prior to the employee's voluntary discontinuance of participation in the plan. Board of trustees means the trustees designated in this chapter, and an,successor trustees selected as provided herein, acting in a group as the administrator of this pension plan. BSO means the Sheriff of Broward County, Florida. Covered employment means service for which an employee is obligated to pay contributions to this pension elan. Married means a participant who is married on the date of receipt of pension benefits. A participant shall also be considered married: (1) If the participant dies before receipt of such benefits, but the participant was married on the date of the participant's death; or (2)„ To the extent provided under a qualified domestic relations order. Maternity or paternity leave means a participant's absence from work by reason of: (1) The pregnancy of the participant; (2) The birth of a child of the participant; (3).- The placement of a child with the participant in connection with the adoption of such child by the participant; or (4) The caring for such child by the participant for a period beginning immediately following such birth or placement. Crediting hours of leave: Solelv for purposes of determininiz whether a break in service has occurred and not for purposes of vesting or benefit accrual, a_participant who is absent from work in covered employment due to maternity or paternity leave shall be credited with the hours of service which otherwise would normally have been credited to the participant but for such absence, not to exceed three (3) months' hours per plan year. Creditin eriod: The hours of service absent from work due to maternity or patemL leave shall be credited solely for puMoses of excusing a break in service: Temp. Ord. No. 1873 08/24/99 Page 82 (1) During the plan year in which the absence began if the crediting of those hours is necessary to prevent a break in service in that plan year; or (2) In all „other cases, in the next following plan year; Pension or pension benefit means an early retirement benefit, a normal retirement benefit or a disability retirement benefit. Pension plan means the city police officers' pension plan. Plan year means the twelve-month period from October 1 to the following September 30. Police officer means any person employed by the city or any person employed by BSO on July 1, 1989 who, on June 30, 1989, was employed by_ the cztY_ and was, on that date, a participant in this plan who satisfies the definition of police officer in section 185.02(11), F. S., or is a sworn deputy sheriff of Broward County, Florida. Retirement or retired means the complete withdrawal of a participant from any further employment as an employee,paid consultant or independent contractor of the Service means vears and completed months of continuous uninterrupted employment as a full-time employee of the city, BSO or both —provided that employees of BSO must have been employed by BSO on July 1. 1989 and must have been employed by the city and have been participants in this nlan on June 30. 1989. commencing on the date of hire, for which a person is aid or entitled to pUment, by the city or BSO: (1„)_ _ _ ,For the performance of duties; (2) For reasons other than the performance of duties, including vacations, holidays, temporary disability, illness, jury duty, military_ duty, administrative leave, paid leave or approved leave of absence; (3) As the result of back pay being awarded, or agreed to, by the city or BSO (irrespective of mitigation of damages). Non -covered emplovment: A person who is paid, or entitled to payment,_ by. the city or BSO shall also be credited with service for purposes of participation, vesting and breaks in service (but not for benefit purposes) based upon service in non -covered employment for the city or BSO, provided that the person worked for the city or BSO in covered employment immediately before or immediately after the non -covered employment, and further provided that Temp. Ord. No. 1873 08/24/99 Page 83 no resignation, discharge or retirement occurred between the covered employment and the non - covered employment. Determination of amount of service: The amount of service shall be ascertained from the most accurate records available including records of hours work shifts da s or weeks for which payment is made or owing, as reported to the board of trustees. Cre diting period: i gperi rod: Service shall be credited for each year for which duties were performed, or if no duties were performed, then during the year for which the payment relates. Vested means a nonforfeitable ri h�pension benefit under this pension plan. Sec. 16-127B. Submission of claims, notices and inquiries. All claims for benefits, elections for a specific form of benefit, notices of reemployment, notices of re -retirement, verifications of retirement, notices of mailing address, notices of appeal., and all other inquiries and matters concerning the pension plan shall be submitted to the board of trustees addressed as follows: Secretar City of Tamarac Police Officers' Pension Plan 7525 NW 88th Avenue Tamarac, Florida 33321 Sec. 16-128B. Response to claims and inquiries. All inquiries shall be answered promptly. The final decision for approval of benefits shall be made by the board of trustees. Sec. 16-129B. Denial of benefits. If any claim for benefits is denied, suspended or terminated, in whole or. in part, then the claimant shall be furnished with a notice of denial suspension or termination no later than thirty (30) days after the final decision has been made. The notice shall be provided in writing, by certified mail, and shall set forth: (1) . The specific reasons for the denial, suspension or termination of benefits; 2 The specific references to the pertinent provisions of the pensionplan upon which the action is based and a copy of the pension plan provisions shall be furnished with this notice, Temp. Ord. No. 1873 08/24/99 Page 84 (3) A description of any additional material or information necessary for the claimant to perfect the claim, along with an explanation of why Such material or information is necessary; and (4) An explanation of the claims review procedure. Sec. 16-130B. _ Claim review procedure. (a) Requests for review. If a claim for benefits is denied suspended or terminated, in whole or in artthen the claimant mgy a eal to the board of trustees for a full and fair review. In order to file an Upeal, a written notice of Upealmust be submitted within sixty (60) days after the notice of denial, suspension or termination is received by the claimant (or such later time as the board of trustees deems reasonable). The notice of appeal shall briefly describe the rounds u on which the appeal is based on shall be signed by the claimant. The claimant shall be allowed to review all pertinent documents during normal business hours, and shall be permitted to submit comments and a statement of issues for consideration by the board of trustees. b Representation. A claimant mqy designate an attorney or any other duly authorized person to act as his or her representative at any stage of the claims review procedure. Any rights provided to the claimant during the claims review procedure shall automatically extend to the representative designated by the claimant. A designation of representative shall be signed by the claimant and the representative, and shall be submitted in writing. c) Claims review board. The board of trustees shall rule on all appeals brought under this section. A decision to grant or deny an gpl2eal shall be based solely on the record before the board of trustees, unless the board of trustees determines, in its sole discretion that a hearing is necessary for the proper resolution of the appeal. The board of trustees shall decide, by majority vote to grant or deny an appeal. The final decision shall be made by the board of trustees, in writing. If an appeal is denied. in whole or in part, then the decision shall set forth the specific reasons for the action, with specific references to those pension plan provisions upon which the decision is based. The claimant shall be promptly provided with a copy of this decision. The decision of the board of trustees shall be final and binding Sec. 16-131B. Exhaustion of claims review procedure. No action in law or in eauitv shall be brought to contest a denial,. suspension or termination of benefits until the claimant has complied with the procedures provided in section 16-130B, unless the hoard of trustees fails to render a decision as provided in 16-130B(c). _In no case however, shall an action be brought unless instituted within one 1 year from the time the claimant received the notice of denial suspension or termination provided in section 16-129B. Temp. Ord. No. 1873 08/24/99 Page 85 Sec. 16-132B. Funding generally_ The plan shall be funded by contributions from participants-, contributions from the ci and from BSO and the amount derived from the premium taxes provided in section 185.08 F. S. and other income sources as authorized by applicable law. Monies received in accordance with section 185.08 F. S. may be used for police officers only. Sec. 16-133B. Participant contributions. (a) All police officer participants shall make regular contributions at the rate of five (5) percent of total cash remuneration paid for services rendered to the city or BSO, which shall be deposited in the fund each pay period. The city and _BSO shall assume and_pa __ participant r respective employees in lieu of payroll deductions from participants' contributions for their p , ective em�lo„ �ie_ earnings. No participant shall have the option of choosing to receive the contributed amounts directly instead of having them paid by the city or BSO directly to the plan. All such contributions the city or BSO shall be deemed and considered as a part of the participant's by accumulated contributions and subject to all provisions of this plan pertaining to .accumulated contributions of members. This city pickup of contributions is the result of a five -percent reduction of each participant's base -pay and of base pay levels which occurred on October 1, 1986, and for employees who were first employed by BSO on July 1, 1989, also on that date, all of which is intended to comply with section 414(h)(2) of the Internal Revenue Code. b) If a participant has not made contributions for any period of covered service because the previous Man did not permit contributions or benefit credits_ for service after normal retirement age, the participant must pqy retroactive contributions for that period in order to receive vesting credit for that period. Such retroactive contributions shall be made over a eriod of time equal to the period of time for which contributions were not made unless the participant selects a shorter period. All retroactive contributions due must be 12aid in full 12rior to retirement. Sec. 16-134B. State contributions. The fund shall receive the premium taxes collected and disbursed by the state insurance commissioner and treasurer pursuant to sections 185.08 and 185.10 F. S. Such monies shall be deposited into the fund within five 5 days of receipt in accordance with section 185.11 F. S. in lieu thereof the city mqy authorize the Division of Retirement DOR to remit such monies directly to the board of trustees of the fund section 185.11 F. S.). 1 Temp. Ord. No. 1873 08/24/99 Page 86 Sec. 16-135B. City and BSO contributions. The city, on behalf of participants who are city police officers, shall contribute to the plan, on at least a quarterly basis, an amount, which will be sufficient to meet the annual normal cost of the plan for „said- participants. Such amount shall be sufficient to fund any actuarial deficiency over a period of not more than thirty (30) years. The city shall consider the contributions derived from participants and the amount derived from premium_ taxes and other income sources as authorized by law in determining said contribution. BSO shall, on behalf of participants who are BSO employees, contribute to the plan, on at least a quarterly basis, the amount, which BSO would have contributed to the Florida Retirement System (FRS) for the same time period on behalf of said participants if said participants were members of FRS rather than participants in this plan. Sec. 16-136B. Basis of payments from plan. All benefits and expenses shall be paid in accordance with the provisions of this pension plan and the trust agreement and consistent with state statutes and the_Internal Revenue Code, Sec. 16-137B. to Sec. 16-146B. Reserved See.16-147B. Construction. The terms and conditions of this pension plan shall be construed by the Board of Trustees in their sole discretion subject to the purposes and provisions of the ordinance and declaration of trust establishing the plan, and subject to Chapter 185 F.S. other applicable state law, the Internal Revenue Code and all other applicable laws. Sec. 16-148B. Standards of prooL The board of trustees shall be the sole judge of the standards of proof required in any case. In the application and interpretation of this pension plan the decisions of the board of trustees shall be final and binding on the participants and beneficiaries the city, BSO and all other persons. Sec. 16-149B. Benefits not assignable. a The right of any person to gLy pqyment under this pension plan shall not be subject to assignment, alienation or volunta or involuntM transfer, and to the fullest extent permitted b law shall not be subject to attachment execution arnishment sequestration or other legal or equitable process If any_person attempts to assign, transfer or dispose of such right, or if an Temp. Ord. No. 1873 08/24/99 Page 87 attempt is made to subject such right to such process, such assignment, transfer or disposition shall be null and void (b) Eligible rollover distributions: (1) __This subsection applies to distributions made „on or after January 1, 1993. Notwithstanding_any_ provision of the plan to the contrary that would otherwise limit a distributee's election under this subsection, a distributee may elect, at the time and in the manner prescribed by the board of trustees, to have„any portion of an elifzible rollover distribution 12aid _directly to an eligible retirement plan specified by the distributee in a direct rollover; (2) Definitions: a. Eligible rollover distribution, An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the dp g' i distributee, except that an able eli rollover distribution does not include: any distribution that is one (1) of a series of substantially equal periodic payments (not less frequently than annually) made for the .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 eriod of ten 10 ears or more; any distribution to the extent such distribution is required under section 401 (a)(9) of the Code; and the _portion of any distribution that is not includable in gross income determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). b. Eligible retirement plan: An eligible retirement plan is an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408 b of the Code an annuity plan described in section 403(a) of the Code or a qualified trust described in section 401(a) of the Code, that accepts the distributee's eligible rollover distribution. However, in the case of an eligible rollover distribution to the survivin souse an eligible retirement plan is an individual retirement account or individual retirement annuity. C. Distributee: A distributee includes an emnlovee or former employee. In addition the employee's or former employee's surviving spouse and the employee's or former employee's spouse or former spouse who is the alternate pqyee under an income deduction order are distributees with regard to the interest of the spouse or former spouse. Temp. Ord. No. 1873 08/24/99 Page 88 d. Direct rollover. A direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee. Sec.16-150B. Forfeitures. Forfeitures and dividends shall not be used to increase the benefits that any participant would otherwise receive under the pension plan at any time prior to the termination of the pension plan or the complete discontinuance of contributions to the pension plan, but shall be anticipated in determining the costs under the pension plan. See.16-151B. Merger. This pension plan shall not meree or consolidate with anv other pension elan. nor transfer any assets or liabilities to any other pension plan, unless each participant in thispension plan_will receive a benefit immediately after such merger, consolidation or transfer (if the pension plan then terminated) which is at least equal to the benefit the participant was entitled to immediate) before such merger, consolidation or transfer lif the ension lan had terminated), Sec. 16-152B. _. Termination of pension plan. In the event of termination of the pension plan, the board of trustees shall follow the procedures contained in section 185.37 F. S., the Internal Revenue Code, and all other applicable laws. See.16-153B. Incorporation by reference. This 12ension plan is maintained for the exclusive purpose of providing benefits to participants and beneficiaries, and is intended to satisfy all the requirements of the state statutes and the Internal Revenue Code. If any requirements of such laws have been omitted they shall be deemed to be incorporated herein by reference. Sec. 16-154B. Amendment of pension plan. This pension plan mqy be amended at an time by majority vote of the board of trustees as provided in 16-66B and the city commission prospectively or retroactively, provided that such amendment complies with Chapter 185 F. S., the Internal Revenue Code, all other applicable laws, and the purposes as set forth in the ordinance and declaration of trust. Additionall_y,. and not by wav of limitation. the board of trustees may amend this pension plan when it is deemed necessgU to maintain its tax-exempt status or to preserve compliance with the Internal Revenue Temp. Ord. No. 1873 08/24/99 Page 89 Code, the state statutes and all other applicable laws. However, no ,amendment, which reduces the accrued benefits of M participant, shall take effect. See. 16-155B DIVISION 2B. ADMINISTRATION Sees. 16-156B. -- 16-170B. Reserved. See. 16-171B. Board of trustees. The board of trustees created in section 16-56B shall administer and control the operation of this .pension plan_ in accordance with the provisions of this pension plan, the declaration of trust, this chapter, Chapter 185 F. S. and other applicable state law. The board of trustees or any other person to whom the board of trustees may allocate or delegate such authority, shall, from time to time, establish rules for the interpretation, application and administration of the pension plan. In making any such determination or rule, the board of trustees shall pursue uniform policies and shall not unreasonably discriminate in favor of or against, any person or group of persons. Sec. 16-172B. Claim for benefits. (a) Advance claim reauired. In order to receive a benefit under this pension n1an. a claim for benefits must be submitted in writin and shall be made on a duly prescribed form containing the information required in this section. A claim for benefits must be filed before any benefits are payable. After a participant dies, a claim for survivor benefits, if applicable, must be filed within one (1) year of the death of the participant. (b) Information rewired. All participants and beneficiaries shall furnish such information, as the board of trustees considers necessary or _desirable for the _purposes of administering the plan. This shall include the expected date of retirement of the participant, the marital status and proof of date of marriage of the participant, proof of age of the participant and any designated beneficiaries, and date and goof of death if a claim is filed for a survivor annuity or a death benefit. If proof of age is not submitted as required, other information may be used, as the board of trustees deems reliable. An adjustment required by reason of lack of proof, or misstatement of age, shall be made in such a manner, as the board of trustees deems equitable. Benefits provided under this plan are conditioned upon the furnishing of such true and complete information as ma be needed. The board of trustees and an other persons involved in the administration of the 121an shall be entitled to rely -,upon any certification statement or representation made by a participant or beneficiary with respect to age, martial -status, death of the participant, or other facts reauire to be determined under any of the provisions of the pension lanand the board of trustees shall not be liable on account of the pument of an monies or the commission of an act or failure to act in reliance thereon. Temp. Ord. No. 1873 08/24/99 Page 90 Sec. 16-173B. Multiple claims. Once a claim for pension benefits has been approved by_„the board of trustees no further claims for a pension benefit shall be permitted. Sec. 16-174B. Notification of mailing address. Lal All participants and beneficiaries shall file with the board of trustees from time to time in writing, their mailing address and each change of address. Failure to submit such mailin address ma result in the pqyment of benefits being delayed. b Any check representing a ment hereunder, and any communication addressed to a participant, beneficia or other person, at the last address on the records of the board of trustees shall be bindipZ on such persons for all VuLposes of this pension plan. c)If the board of trustees is in doubt whether payments are being received by the person entitled thereto, it may notify such „person, by certified mail at the last known „address, that all payments of benefits shall be withheld until the board of trustees is provided such information as it deems necessary. Sec. 16-175B. Benefits Valable to minors and incompetents. a Whenever any Derson entitled to pUments under this pension plan is a minor, under a le al disability or, in the sole judgment of the board of trustees is otherwise unable to care for their affairs in their own best interest„ and advantage (whether because of illness, accident, incapacity or other mental or physical condition), the board of trustees may direct that all or gny portion of such pUments be made in any of the following was unless a claim has been made by a legal guardian, tutor conservator, committee or other dulya ointed legal representative, in which event pqyment shall be made to such representative): (l) To the spouse, child, parent or other blood relative, to be expended on behalf of the person (or on behalf of those dependents Was to whom the person has the dutyto o support); (2) _ To a recognized charity or governmental „institution to be expended for the benefit of the beneficiary (or for the benefit of those dependents as to whom the person has the duty to support): or (3) To such other persons, organizations or institutions as the board of trustees deems a ro riate to provide for the care and benefit of the D.e.rson or for the benefit of those dependents as to whom the person has the „dgly to support). Temp. Ord. No. 1873 08/24/99 Page 91 b The decision of the board of trustees shall be final and bindin u on all ersons. After such decision the board of trustees shall not be obliged to see to the proper a lication or expenditures of any payments so made. See. 16-176B DIVISION 3B. CREDITED SERVICE Secs. 16-177B.—16-190B. Reserved. See.16-191B. Participation. a A person shall become a particinant on the first da of service. Each full-time olice officer shall be a participant in the plan; b A person shall remain a DartiCiDant until the earlier of: c Terminating service prior to earning a vested benefit and Drior to rcachiniz normal retirement age; d All benefits have been paid to the participant; or e The person dies. Sec.16-192B. Vestine schedules. LW Earl retirement benefit. A artici ant shall have a one -hundred- ercent vested rijzht to an gffly retirement benefit upon earning ten 10 vestine credits. Normal retirement benefit. A Participant shall have a one -hundred- Dercent vested right to a normal retirement benefit u on: 1 Earning five 5 vesting credits; Qh Re hing normal retirement age; or 3 The termination or partial termination of this 12ension plan to the extent funded as of such date). 1 Temp. Ord. No. 1873 08/24/99 Page 92 See.16-193B. Vestina credits. A participant shall earn one 1 vestin credit for each year of service. A participant ma lose vestingcts as provided in section 16-196B et seq. The total number of vestin cats earned and retained shall determine whether a participant has a„vested rightpension benefit. Sec. 16-194B. Limitation on changes in vesting schedules. No amendment shall reduce a participant's vested right to a normal retirement benefit at the time such amendment is adopted or, if later, at the time such amendment is effective. Sec. 16-195B. Vesting of benefits. No artici ant beneficiary or other person shall have any vested right to a pension benefit unless the particjant has met the requirements for vesting as provided in this division. Sec. 16-196B. Breaks in service. (a) A break in.service shall occur when a participant is no longer employed, b the he city or BSO as a full-time police officer employee. However, no credits shall be lost excel2t as provided in section 16-197B. (b) A break in service shall not occur if the participant is not employed _due to the participant: (_L g e United States, provided the erson returns to c Entering into e Armed Forces o thp _p,,..� work in covered employment within the period of time „provided in the Uniformed Services Employment and Reem to ment Rights Act USERRA d Becoming employed by the city or BSO in non -covered em to ment• (e) Being absent_ from work due to maternity or paternity leave as defined in section "aid e approved by the city or BSO; or 16-126B or due to un a1d leave of absence . Becoming temporarily totally disabled or receiving a disability benefit from the plan. Terminating employment with the city or BSO and becoming re-employed by the city or BSO within five (5) years of termination provided that the employee did not receive a refund of the employee's accumulated contributions. 1 Temp, Ord. No. 1873 08/24/99 Page 93 Sec. 16-197B. Loss of credits. A participant who is not vested shall lose all vesting credits earned to date if the artici ant suffers a break in service before earning five 5 vesting credits. However, a police officer will receive vesting credit for time spent in the military, service of the United States or the United States Merchant Marine while on leave of absence, provided that the police officer must have re-entered the police service of the city or BSO within „the,period of time provided in the Uniformed Services Employment and Reemployment Rights Act (USERRA Sec. 16-198B. Refund of contributions. p ip and of the .artici ant who is not vested an suffers a re m service shall receive a refund participants' accumulated contributions plus interest at the rate of five percent (5%)per annum. A participant who is vested and suffers a break in service may elect to receive a refund of the ,participant's accumulated contributions in lieu of any other benefits from this121an. If a participant_ accepts_ such a refund of accumulated contributions plus interest, no other benefits shall be due or payable from the „plan to the participant. Sec. 16-199B. Reentry into plan. (a) A person who has been paid a refund of accumulated contributions, subsequently is re-employed by the city or BSO, and earns any vesting credits under the pension plan ma_v repay to the pension plan the accumulated contributions previously received, plus interest on that amount at the actuarially assumed interest rate, p compounded annually, or such other amount as prescribed in section 411 (c) (2) (d) of the Internal Revenue Code. b U on re a meat of the refunded accumulated contribution -plus interest the participant shall be credited with all vesting credits previously lost and there shall be no reduction in the value of any subsequent benefit by the value of the accumulated contributions previously refunded. A„ participant ,who is vested and terminates employment ten (10) or more years before early retirement age shall have the option to receive, in a single lump sum, the actuarial resent value of the participant's vested benefit in full satisfaction of all benefits due to said participant from the plan. Application for such a benefit must be made within forty-five days of the participant receiving a notice from the plan showing the value of such benefit and must be accompanied by the consent of the participant's spouse. Upon receiviny, this benefit the participant shall lose all vesting credits no Ionizer be entitled to Temp. Ord. No. 1873 08/24/99 Page 94 any further benefits from the plan. and be regarded as a. new employee should the participant thereafter be re-employed b the city or BSO. Sec. 16-200B DIVISION 4B. BENEFITS Secs. 16-201B.—16-215B. Reserved. Sec.11b-216B. Right to pension benefits. A pension benefit shall be payable if the participant: (1) Has a vested rightpension benefit; 2 Has reached the a licable retirement age; 3 Has retired: and (4) Has filed a claim for pension benefits. Sec. 16-217B. Early retirement age. The early retirement age shall be the first day of any month on which or any participant has earned ten (10) vesting credits and has attained fifty (50) years of age. Sec. 16-218B. Early retirement benefit. The early retirement benefit shall be the benefit level provided in section 16-233B_ et seq. reduced by one -fifteenth for each of the first five 5 ears and one -thirtieth for each of the next five years for each year by which the participant is younger than the normal retirement age for the participant on the effective date of his/her early retirement. Sec. 16-219B. Normal retirement age. The normal retirement aize shall be the first day of the month on or after which the participant attains five 5 vesting credits and fifty-seven 57 ears of age. Sec. 16-220B. Normal retirement benefit. The normal retirement benefit shall be the benefit level provided in section 16-233B et. Temp. Ord. No. 1873 08/24/99 Page 95 Sec. 16-221B. Forms of benefit payments. A participant who has a right to receive a pension benefit as provided in section 16-216B shall automatically be paid the standard form of benefit payment, which is ten G 0) years certain and life, unless a timely election is made to r„eceive an optional form of benefit payment. „ Sec. 16-222B. Standard benefits. The standard pension benefit shall be ten (10) years certain and life. Sec. 16-223B. Optional benefits. Optional benefits are: 1 Single life annuit . Any participant ma file an election to receive monthl payments for life. (2) Any other actuarially equivalent benefit approved by the board of trustees or provided by section 185.161, F. S., et seg. Sec. 16-224B. Election „o,f optional benefits. (a) Manner of electing optional benefits. Optional forms of benefit payments shall only be pUable if a timely election is made. Such election must be in writing, signed by the participant, on a form provided by the board of trustees. (b)- Designation of beneficiary. Each participant may, on a form provided for that purpose, signed and filed with the board of trustees designate a beneficiM or beneficiaries to receive the benefit, if any, which may be payable in the event of the participant's death, and each designation may be revoked by such participant by signing, and filing with the board of trustees a new designation -of -beneficiary form. TA participant may from time to time change their designated beneficiary in such manner as provided in section 185.161 1 b F. S. c) Failure to name beneficiary. beneficiary predeceases varticivant. If a deceased participant failed to name a beneficiary in the manner prescribed in subsection (b), or if the beneficiM or beneficiaries named by a deceased participant predeceased the participant, the death benefit, if any, which may be payable under the 121an with respect to such deceased participant may be paid, in the discretion of the board of trustees either to: LI Temp. Ord. No. 1873 08/24/99 Page 96 (1) The spouse or dependent children of the participant; or (2) The dependent living parents of the participant; or (3) The estate of the participant. (d) Time limits. Any optional form of benefit payment must be elected prior to commencement of benefits from this pension plan and is subject to change as provided in section 16-225B(b). Sec. 16-225B. Revocation of election. (a) An election of a standard or optional form of benefit payment may be revoked at any time before the first payment of benefits from this -pension plan._ Such a revocation must be in signedwriting, _ by the participant. (b) After benefits have commenced, a retired participant may change her or his designation of joint annuitant or beneficia twice in the manner prescribed in section 185.341 F. S. Sec.16-226B. Reserved Sec. 16-227B. Right to disability benefits. a) Service -connected. A service -connected disability benefit shall be payable if a barticipant has suffered a service -connected injury, illness, disease or disability_ which permanently and wholly prevents the participant from rendering useful and efficient service to the city or BSO as a police officer, and has filed a claim for disability benefits within ninety (90) days from the termination of the narticinant's emnlovment with the city or the sheriff of Broward County. (b) Presumption. Any permanent disability, as described in paragraph (a) above, which is the result of or caused by tuberculosis, hypertension, _ hepatitis, meningococcal meningitis, cancer, heart disease hardening of the arteries shall be presumed to have been incurred in the line of duty so as to be service -connected unless a physical examination of the narticinant conducted upon initial hiring by the city revealed that such condition existed at that time. (c) Nonservice-connected. A nonservice-connected disability benefit shall be payable if a participant: Temp. Ord. No. 1873 08/24/99 Page 97 (1) a. with two (2) but less than ten (10) vesting credits and has suffered a nonservice-connected iniury,_illnesss_disease _or disability which ermanentl incapacitates the participant, either mentally or physically, from his regular and continuous duty for the, city or BSO or any other gainful full-time employ ( g has suffered a . with ten or more vesting credits who nonservice-connected injury, illness, disease or disability and is wholly prevented from rendering useful and efficient service as such (2) Has not reached normal or early retirement age, (3) Has filed a claim for social security disability benefits and lon -t erm disability insurance benefits (if offered by the city). 4) Has filed a claim for disability benefits within ninety (90) days from the termination of the participant's employment with thecityor the sheriff of Broward County. (d) Option. A participant who is eligible for an early -or normal retirement benefit may, at the participant's option, elect such benefit in lieu of a service -connected disability benefit. Sec. 16-228B. Amount of disability benefits. a Service -connected. The monthly service -connected disability benefit shall be: (1) The greater of the participant's accrued retirement benefit. 2) A monthly disability benefit eaual to the average monthly compensation aid by the city or BSO for the participatifs last position and 12U step at the time of disability minus any_ disability income benefits actually_ received by the participant from the cit 's or BSO's long-term disability insurance benefit plan, social security and workers' compensation (includingthose of lump sum a ments that are in consideration for discharge of liability for future wage loss or total disability benefitsprovided that i the benefit paid by the plan shall not exceed seventy-five 75percent of the artici ant's average monthly salary at the time of disability for police officer employees, and GO the benefit paid by the plan to disabled police officer participants shall not when combined with any disability - benefits actually received by such Police Officer participant from the city's or Temp. Ord. No. 1873 08/24/99 Page 98 BSO's long-term disability insurance benefit plan and worker's compensation (including those portions of lump sum payments that are in consideration for discharge of liability for future wage loss or total disability benefits)be less than forty-two (42) percent of the disabled police officers average monthly_ compensation at the time of disability.. -An a reduction of the disability benefit provided herein on account of workers' coml2ensation benefits received shall be limited to the amount that the total of the workers' compensation benefit plus the disability benefit payable hereunder exceeds the maximum employee's average monthly compensation at the time of the disability (3) Entitlement to a monthly service -connected disability benefit shall commence on the date of disability and be payable on the first day of the following month and continue to be paid on the first day of each month thereafter until the participant reaches normal retirement age, or should the participant die before reaching normal retirement age, for at least ten f 10years,,with the balance payable to the participant's beneficiary. (4) Upon reaching normal retirement age, the participant's benefit shall be either a normal retirement benefit, with vesting credits for each year of service - connected disability benefits and average annual compensation based upon the base wage rates paid by the city or BSO during the period of the participant's disability for the participant's last position and step, or the benefit amount provided by subsection (a)(1) or (22) above, whichever is greater, continuing as provided by the retirement benefit option selected by the participant. (b) _ Nonservice-connectedtwo but less than ten vesting credits. The monthly nonservice-connected disability benefit for participants with at least two (2) but less than ten (10) vesting credits shall be: 1) A monthly disability benefit equal to the monthly base wage rate paid b the city or BSO for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by the participant from th e city s or BSO's long term disability insurance benefit plan and social security, provided that the benefit paid by the plan shall not exceed twenty 20 percent of the participant's average monthly salary at the time of disability. (2) The monthly nonservice-connected disability benefit shall commence on the date of disability and continue until the participant dies or reaches normal retirement_ age. Temp. Ord. No. 1873 08/24/99 Page 99 (3) Upon reaching normal retirement age, the participant's benefit shall be a normal retirement benefit, with vesting credits only for each year of service prior to the date of disability, continuing as provided by the retirement benefit option selected by the participant. (c) Nonservice-connected ten (10) or more vesting credits. The monthly nonservice-connected disability benefit for participants with at least ten (10) vesting credits shall be: (1) The greater of the participant's accrued retirement benefit. (2) A monthly disability benefit equal to the average monthly compensation paid by the city or BSO for the participant's last position and pay step at the time of disability minus any disability income benefits actually received by the participant from the city's or BSO's long term disability insurance benefit plan and social security, provided that the benefit paid by the plan shall not exceed thirty-five (35) percent of the participant's average monthly compensation at the time of disability, and provided further that the benefit paid by the plan to a disabled participant from the city's or BSO's long term disability insurance benefit plan and workers' compensation (including those portions of lump sum payments that are in consideration for discharged of liability for future wa eg loss or total disability benefits) shall not be less than twenty-five (25hyercent of the disabled police officer's average monthly compensation at the time of disability. (3) The monthly nonservice-connected disability benefit shall commence on the date of disability and continue until the participant reaches normal retirement age or, if the participant dies before reaching normal retirement a e for at least ten 10 ears with the balance 2ayable to the participant's benefici 4) Unon reaching normal retirement aize. the participant's benefit shall be either a normal retirement benefit, with vesting credits for each year of service prior to the date of disability or the benefit amount provided by subsection c 1 or (2) above. whichever is ereater, continuing as provided by the retirement benefit option selected by the participant. d) Increase in benefits. A participant's monthly disability benefit under this plan shall be increased if the monthly base wage rate paid by the city or BSO for the participant's last position and pay step is increased while the participant is receiving a disability benefit, provided that the total disability benefit paid by the plan shall never exceed the applicable maximum limits set forth above. Temp. Ord. No, 1873 08/24/99 Page100 Sec._16-229B. Determination of disability. UaL Initial determination. The board of trustees may consider reports of physicians, and social security, workers' compensation and Veterans Administration disabilit determinations in determining whether a participant is disabled; however, such reports and determinations shall not be binding upon the board. The board may also require the participant to be examined, at the plan's expense, by physicians and other medical,, vocational and rehabilitation professionals selected by the board whose reports -May be considered b but shall not be binding upon, the board in determining disability. The board shall determine eligibility for disability benefits within sixty 60 da s after all required documentation and reports have been submitted to the board. b) Continuiniz review. The board may review the status of each disabilitv benefit recipient once _each_ year and may, in its sole discretion, require recipients, as a condition of continued a ment of disability benefits to submit physician's reports, submit to examinations at the Ian's expense, by ghysicians or other medical vocational or rehabilitation professionals. Should a disability benefit recipient not submit such physician's reports onto- such requested examination, the board of trustees may, after notice to the disability benefit recipient, suspend y p participant „„ until such recipient has fully complied with the the disabilit benefit _aid to such � obligations of this section. See.16-229.5B. Subrogation. (a) The _pension plan has a right of subrogationgainst any third -party tortfeasor or insurance carriers representing such third -party tortfeasor, to the extent that the pension plan becomes obligated to make any disability benefit payments to the participant as a result of injuries caused by the third-party„tortfeasor. tb). A participant shall execute a subrogation agreement on a form provided by the pension board or such other documents which may be necessary to. document the pension plan's subrogation rights. The participant shall notia the pension board of any claim or legal action asserted against any partyor insurance carrier for such injuries and shall notify the pension board of the name and address of such party and any insurance carrier. The participant shall take no action inconsistent with the re uirements of this section nor settle any claim without obtaining the prior consent of the pension board. c The pensionplan's subrogation rights shall not be subject to equitable distribution or to any reduction for costs or attorneys' fees incurred by the participant in pursuit of his/her claim against a third -party tortfeasor or aLiy insurance carrier. Further, the pensionplan's subro ation Temp, Ord. No. 1873 08/24/99 Page 101 rights shall not be subject to reduction regardless of whether the particiRqpt recovers the full value of his/her claim against a third -party and/or any insurance carrier.. d In the event that the particil2ant fails to execute a subrogation agreement, or otherwise fails to comj2ly with the terms of this section then such shall be considered a breach of this pension plan and disability pension benefits mgy be denied and/or discontinued by the ension board upon a uniform and nondiscriminatory basis. Sec. 16-230B. Recovery from disabili . a Recovery and reemployment by ciU or BSO. If a service -connected disabilit benefit recipient recovers, the board of trustees shall request the city or BSO to reinstate the participant to his/her former position although the city or BSO is not required to do so, and if the participant resumes or declines an offer of such employment with the city or BSO, the participant's disability benefit will be discontinued. bl Recovery from nonservice-connected disability and reemplovment by another em to er. If a olive officer nonservice-connected disability recipient recovers so as to be able to render useful and efficient service as a police officer, the p artici ant's disability benefit shall be discontinued. c Vestin credit during disabili . A recipient of a service -connected disability benefit who has recovered and returned to work shall receive full vesting credit for all the time during which the participant received a disability benefit. A recipient of a nonservice-connected disability benefit who has recovered shall not suffer a break in service for the period of his/her disabilit • however, in order to receive vesting credit for the period of disability, the parti62qnt must be reinstated by the city or, if a BSO employee at the time of disability, by BSO, andp into the fund the amount of employee contributions which would have made during the disability had the participant not been disabledplus interest as determined by the board. Sec. 16-230.5B. Duty to cooperate and search for work; reduction in disability benefit. Applicants for and recipients of disability pensions must apply for social security disability benefits long-term disability insurance benefits and for service -connected disabilit workers' compensation benefits. Applicants must provide the information necessa to support such claims to the insuror or Social Security Administration diligently ursue such claims and submit to annronriate medical examinations requested by such insurors in connection with such claims. 1 Temp. Ord. No. 1873 08/24/99 Page 102 See. 16-231B. Payment of benefits. (a) Frequency o�pavments. Pension benefits shall be paid monthly. b First payment. The first pqyment shall begin on the earlier of: (1) The first day of the month on which or after the participant meets the requirements of section 16-216B. (2) April 1 of the calendar year following the year in which the participant attains the a e� of seventy and one-half (70-1/2), if he retired at an earlier age. (l , _ Last payment. The last payment shall be the month coincident with the death of the participant or survivor, if applicable) or later depending on the form of benefit selected. Sec. 16-232B. Calculation of benefit amount. (a) A participant's -monthly benefit level is the product of the vesting credits earned multiplied by the monthly benefit level provided in section 16-233B. (b) The actual benefit amount is determined by makingtjustment, if any, for early retirement or late retirement and for the form of benefit which the participant selects. (c) Cost of living adjustment benefit. In any given year in which the pension plan shall recognize an actuarial gain from favorable actuarial experience, the pension l2lan mqy paya cost of living adjustment benefit to all participants receiving a normal retirement benefit in an amount to be established by the board of trustees which shall not exceed two 2percent of the current retirement benefits paid or payable to participants receiving a normal _retirement benefit during that specific year, and the cost of which shall not exceed the amount of the aforesaid actuarial gain. Any benefit paid to participants as a cost of living adjustment benefit shall be paid to participants only during that specific year, and may not be _paid to participants as an accumulation to or in conjunction with any other benefits due to participants during, any prior or subsequent annual period. See. 16-233B. Benefit level. Benefit levels are: (1) For police officers who retired or terminated employment with the city or BSO before December 19 1997 two 2percent of average final compensation; for police Temp. Ord. No. 1873 08/24/99 Page 103 officer's who were employed by BSO as police officers as of December 19, 1997, three 3percent of average final compensation. (2) For police officer emRlovees who served in more than one (1_) of the city's employee classifications and vested in more than one 1 city ensionplan: a_ Voluntarily, the amount of _pension benefit shall be calculated b multiplying the vesting credits earned in each classification by the benefit level for that classification. b. Involuntarily due to transfer to another classification due to physical or mental disability, or the elimination, transfer or merger of the city's police de artment or the contracting out of the work performed by an department, the benefit level shall be calculated by multiplying the vesting credits earned for all years of service by the benefit level for the original pretransfer classification, provided that service as a police officer shall he accounted for separately and benefits shall be paid accordingly from the appropriate pension plan. Sec. 16-233.5B. Minimum benefit amount. The minimum total benefits paid to any participant and ioint survivor annuitant shall be at least the amount of the participant's accumulated contributions. If, after the death. of the participant and survivor and the payment of all benefits due pursuant to this division, the minimum benefit has not been paid, the balance shall be paid to the participant's designated beneficiga or, if there is no surviving beneficia the participant's estate. Sec. 16-234B. Maximum benefit amount. a A artici ant mqy not receive a pension benefit which exceeds the lesser of: 1 One hundred 100percent of the participant's average compensation for the highest three 3 consecutive years as a participant in the pension plan, or 2 The maximum amount allowed under section 415 of the Internal Revenue Code which is incolporated herein by reference. b This section shall not Lapply if: Temp. Ord. No. 1873 08/24/99 Page 104 (1) The participant's annual benefit under this pension plan and . all other defined benefit plans of the participant's employer does not exceed ten thousand dollars ($10,000.00); (2) The participant does not participate in a defined contribution plan maintained by the employer; and (3) The participant has earned ten (10)vesting credits.. Sec. 16-235B. Suspension of benefits. a The pgyment of pension benefits shall be suspended for each month a participant works as an employee, consultant or independent contractor of the city. b The board of trustees ma uniformly waive the provisions of this section for such periods of time, as it deems appropriate. Sec. 16-236B. Notice of reemployment and re -retirement. (a) Retired participants must notify the board of trustees upon returnin try type of work for the city within thirty 30 da s after starting work. Notice of reemployment shall be given on a form provided by the board of trustees. (b) A participant must notify the board of trustees upon re -retirement if the participant returns to work for the city after having a claim filed for pension benefits. Notice of re -retirement shall be given on a form provided by the board of trustees. Pension benefits _shall be suspended until notice of re -retirement is given. Sec. 16-237B. Advance determination of prohibited work. A participant may reauest, in writing and on a form provided by the. board of trustees, an advance determination whether certain work for the city is prohibited under this pension plan. A written determination shall be given to the participant within sixty (,60) days of the request, unless special circumstances such as a hearing) require additional time not to exceed one hundred twenty"(120) days from receipt of the request. Sec. 16-238B. Resumption of benefits. a Benefit pgyments shall resume effective by the first day of the month after receipt of the notice of re -retirement or verification of retirement from the participant. Temp. Ord. No. 1873 08/24/99 Page 105 (b) The board of trustees may deduct twenty-five (25) percent of each month's benefit payment for benefits previously made which should have been suspended. The first three 3 months are subject to offset without limitation. The board of trustees shall notify the participant of the amount subject to offset, the manner of offset, and the months of work involved_ Sec. 16-239B. Preretirement death benefits for vested participants. (a) Any participant, whether or not still in active employment, who has a nonforfeitable vested right to -any portion of the accrued benefit and who dies prior to the commencement of benefits, shall have a survivor benefit payable on the participant's behalf_. The survivor benefit shall be pqyable to the participant's spouse unless with the spouse's consent as specified in section 16-241B, a different beneficiary is designated by the participant. If the deceased participant is not married at the time of death, the survivor benefit shall be paid to the participant's designated beneficiary: (b) The amount of the survivor benefit shall be equal to fifty (50) percent of the actuarially equivalent single sum value of theparticipant's vested accrued benefit as of his date of death or, of the e uivalent sin le sum value of the amount the spouse or other beneficLaa could have received had the participant retired on the da of death and elected a one hundred (100) percent ioint and survivor annuity, whichever is greater. If this single sum amount is less than five thousand dollar's ($5,000.00), it shall be paid in a lump sum to the spouse or designated beneficipa, as the case mqy be as soon as is practicable following the participant's death. If the single sum amount exceeds five thousand dollars 5 000.00 the benefit shall be paid in the form of an immediate monthly survivor annuity unless the beneficiary and the board agree to an alternative actuarially equivalent form of benefit. Sec. 16-240B. No death benefit following commencement of benefits except per op tions• No death benefit shall be 12Uable on behalf of any participant who dies followin commencement of retirement benefits except that which is a able by reason of selection of a benefit form prior to retirement under which a death benefit is vqyable. Disability benefits are not considered retirement benefits. Sec. 16-241B. Spousal consent. With respect to death benefits provided in this article, at any time prior to the date of death a participant may file with the board of trustees his/her designation of a beneficiary_ other than his/her s ouse. ALiy such filing, with the board shall not require evidence of spousal consent. Temp. Ord. No. 1873 08/24/99 Page 106 Sec. 16-242B. Involuntaty lump sum distributions. If monthly retirement income pqyable to any participant or beneficipa is less than one hundred dollars 1.00.00 or if the single sum present value of a benefit is five thousand dollars 5 000.00 and the VUment of such benefit has not begun, the board of trustees m!qy, in its sole discretion, pav the actuarial equivalent of such benefit in a lump sum, or in monthly installments, without the consent of the participant or the participant's spouse. Secs. 16-243B. -- 16-260B. Reserved. SECTION 9: It is the intention of the City Commission and it is hereby ordained that the provisions of this Ordinance shall become and be made part of the Code Of Ordinances of the City of Tamarac, Florida, and that the Sections of this Ordinance may be renumbered or relettered, and the word "Ordinance" may be changed to "Section', "Article" or such other word or phrase in order to accomplish such intention. SECTION 10: All Ordinances or parts of Ordinances in conflict herewith are hereby repealed to the extent of such conflict. SECTION 11: If any provision of this Ordinance or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this Ordinance that can be given affect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. r-1 SECTION 12: This Ordinance shall become effective October 1,1999. c/1`1k PASSED, FIRST READING this v? T day of) '(1999. PASSED, SECOND READING this goday o4uwl , 1999. Jbf SCHREIBER, MAYOR ATTEST: Temp. Ord. No. 1873 08/24/99 Page 107 CAROL GOL MC/AAE CITY CLERK RECORD OF COMMISSIO VOTE MAYOR SCHREIBER DIST 1 : COMM. PORTN I HEREBY CERTIFY that I DIST 2: V/M MISHVJ h e a roved this / "'�f I AN as to form. rn. DIST 3: DIST #: COMM. SULTAN COMM. Rt)RF . . MITCHELL S. KRJ CITY ATTORNEY C