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Home My WebLink AboutCity of Tamarac Ordinance O-2003-0031 u Temp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 1 CITY OF TAMARAC, FLORIDA ORDINANCE NO. 0-20030�5 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA; AMENDING CHAPTER 16, ENTITLED "PENSIONS AND RETIREMENT", ARTICLE III. PENSION PLAN, DIVISION 1. GENERALLY, SECTION 16- 126. DEFINITIONS, TO CLARIFY DEFINITION OF "RETIREMENT" OR "RETIRED" TO INCLUDE EMPLOYMENT CLASSIFICATION; AMENDING ARTICLE III. PENSION PLAN, DIVISION 4. BENEFITS, SECTION 16- 233. BENEFIT LEVEL, TO CLARIFY PROVISIONS FOR PARTICIPANTS WITH VESTING CREDITS IN MORE THAN ONE CITY PENSION PLAN; AMENDING ARTICLE VI. FIREFIGHTERS PENSION PLAN, DIVISION 1. GENERALLY, SECTION 16-401. DEFINITIONS, TO CLARIFY DEFINITION OF "RETIREMENT" OR "RETIRED" TO INCLUDE EMPLOYMENT CLASSIFICATION; AMENDING ARTICLE VI FIREFIGHTERS PENSION PLAN, DIVISION 4. BENEFITS, SECTION 16-504 BENEFIT LEVEL, TO CLARIFY PROVISIONS FOR PARTICIPANTS WITH VESTING CREDITS IN MORE THAN ONE CITY PENSION PLAN; PROVIDING FOR CODIFICATION; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Tamarac offers three defined benefit pension plans to employees, based upon employee job classifications included in each of the different pension plans; and WHEREAS, there are currently a limited number of employees who have accrued pension benefits in more than one City pension plan; and WHEREAS, the General Employees' Pension Trust Fund approved the proposed changes on August 17, 2001 as noted on Exhibit 1; and CODING: Words in 6tFU k thFe4 h are deletions from existing law; Words in underscored type are additions Temp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 2 WHEREAS, Firefighter Pension Trust Fund approved the proposed changes on December 20, 2002 as noted on Exhibit 2; and WHEREAS, the City Commission has received and reviewed an actuarial impact statement related to this change attached as Exhibit 3; and WHEREAS, the City of Tamarac, Florida hereby amends its General Employees' Pension Trust Fund and Firefighters Pension Trust Fund to provide for the clarifications as follows: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: That Section 16-126, of the City of Tamarac Code of Ordinances, be and is hereby amended as follows: Sec.16-126. Definitions Retirement or retired means the complete withdrawal of a participant from any further employment , in an employment classification covered by this pension plan. SECTION 2: That Section 16-233, of the City of Tamarac Code of Ordinances, be and is hereby as follows: Sec. 16-233. Benefit level. La) The benefit level is two and five hundredths (2.05) percent of average final compensation. C �l CODING: Words in stryrk thmug4 are deletions from existing law; Words in underscored type are additions Temp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 3 For vested employees who served in more than one (1) of the city's employment classifications prior to Jut 1- 2001, the amrt„nt of pension benefit shall be payable upon the employee reaching the early or normal retirement age for the classification from which the employee retired. The amount shall be calculated by multiplying the vesting credits earned in each employment classification by the benefit level for that employment classification's pension plan and the employee's averse final cam ensation which are in effect at the time of the employee's retirement. The entire benefit shall be payable from this plan and no benefit shall be payable from the pension plan covering the employee's prior classification. Lc) For vested employees who served in more than one of the cit 's iob classifications after June 30 2001 and are not covered by this plan at the time of retirement, the pension benefit from this plan shall be payable upon the employee -reaching this ension Ian's normal retirement age. The amount shall be calculated by multiplyina the vesting credits earned while a general employee by the benefit level of this pension plan and the employee's average final compensation which are in effect at the time of the employee's retirement. The benefit payable from this Ian shall be only for the employee's service under this plan and the benefit for the employee's service in classifications covered by other city pension plans shall be paid by the other pension plans, which cover those other classifications. However, the total of all such benefit payments shall be subiect to limitations established by Section 112.65 of the Florida Statutes. CODING: Words in StFUGk thFough are deletions from existing law; Words in underscored type are additions Temp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 4 beRGfitS Shall be paid aGGGFdingly frern the SECTION 3: That Section 16-401, of the City of Tamarac Code of Ordinances, be and is hereby amended as follows: Sec.16-401. Definitions Retirement or retired means the complete withdrawal of a participant from any further employment ars, an employee, _in a_ n employment classification covered by this pension plan. SECTION 4: That Section 16-504, of the City of Tamarac Code of Ordinances, be and is hereby amended as follows: Sec. 16-504. Benefit level. (2) For firefighter employees who served in more than one (1) of the city's employee classifications and vested in more than one (1) city pension plan: (a) V0IYRtaF4y Prior to July 1 2001, the pension benefit shall be payable upon the employee reaching the early or normal retirement age for the classification from which the employee retired. Tthe amount of pension benefit shall be calculated by multiplying the vesting credits earned in each employment classification by the benefit level for that employment classifications' pension Ian and the employee's average final compensation which are in effect at the time of the employee's retirement. The entire benefit shall be payable from this plan and no CODING: Words in etFUsk threug4 are deletions from existing law; Words in underscored type are additions TeMp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 5 benefit shall be payable from the pension plan covering the employee's prior classification. (b) per -formed by aRY depaFtR;6M, the 198Refit level shall t7l3tih C7fit8shall he paid . GFdiAglY 49M the tC-'� After June 30 2001 the pension benefit from this plan shall be payable to those firefighter employees who are not covered b this plan at the time of retirement upon the employee reaching this pension Ian's normal retirement age, The amount shall be calculated by multiplying the vesting credits earned while a firefighter employee b the benefit level of this pension plan and the employee's averse final compensation which are in effect at the time of the employee's retirement. The benefit payable from this plan shall be only for the employee's service under this plan and the benefit for the employee's service in classifications covered b other city pension plans shall be paid by the other pension plans, which cover those other classifications. However, the total of all such benefit payments shall be sub'ect to limitations established by Section 112.65 of the Florida Statutes. SECTION 5: 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 re -lettered, and the word "Ordinance" may be changed to "Section", "Article" or such other word or phrase in order to accomplish such intention. CODING: Words in StFUGk throug# are deletions from existing law; Words in underscored type are additions Temp. Ord. #1995 January 13, 2003 Rev. # 1 January 15, 2003 Rev. # 2 January 16, 2003 Rev. # 3 January 16, 2003 Rev. # 4 January 17, 2003 Page 6 SECTION 6: All Ordinances or parts of Ordinances in conflict herewith are hereby repealed to the extent of such conflict. SECTION 7: 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. SECTION 8: This Ordinance shall become effective on January 1, 2003. PASSED, FIRST READING this 22nd day of Januray, 2003. PASSED, SECOND READING this 12th day of February, 2003. ATTEST: MARION SWE SON, CIVIC CITY CLERK I HEREBY CERTIFY that I have approved this ORDINANCE as to form. 1TCHEyWSv KF CITY ATTORN - MAYOR RECORD OF COMMISSION MAYOR SCHREIBER____Z DIST 1: V/M. PORTNER__� DIST 2: COMM. MISHKIN _, DIST 3: COMM. SULTANOF DIST 4: COMM. ROBERTS ri, 1 �J CODING: Words in cirunk thrru unh are deletions from existing law; Words in underscored type are additions ,Y r n XI IIl3'�`-I' CITY OF TAMARAC GENERAL EMPLOYEES' PENSION TRUST FUND CIO FIRST BENEFIT SERVICES, INC. 7930 U.S. HIGHWAY 301 NORTH, SUITE A TAMPA, FLORIDA 33637 (813)985-95821(800) 950-9532 FAX (813) 988-6978 January 13, 2003 Ms. Maria Swanson, Director of Human Resources City of Tamarac 7525 NW 88 h Avenue Tamarac, FL 33321 RE: CITY OF TAMARAC GENERAL EMPLOYEES' PENSION TRUST FUND Dear Ms. Swanson: Please be advised the Board of Trustees of the City of Tamarac General Employees' Pension Trust Fund. approved Temporary Ordinance #1995 at their regular meeting on August 17, 2001. Also enclosed is a letter from the Actuary regarding the actuarial impact statement which must be sent to Charles Stavin and Patricia Shoemaker at the Division of Retirement in Tallahassee. If you have any questions or need any additional information, please contact me. Sincerely, 16 Dan Gatilns Administrative Manager Enc. -- I u"l IL.1 1 1 a T.-x-t H"lri' CITY OF TAMARAC FIREFIGHTERS' PENSION TRUST FUND C/O FIRST BENEFIT SERVICES, INC. 7930 U.S. HIGHWAY 301 NORTH, SUITE A TAMPA, FLORIDA 33637 (813)985-9582 / (800) 950-9582 FAX (813) 988-6978 January 13, 2003 Ms. Maria Swanson Director of Human Resources City of Tamarac 7525 N`lV' 88" Avenue Tamarac, FL 33321 RE: CITY OF TAMARA.0 FIREFIGHTERS' PENSION TRUST FUND Dear Ms. Swanson: Please be advised the Board of Trustees of the City of Tamarac Firefighters' Pension Trust Fund approved Temporary Ordinance #1995 at their regular meeting on December 20, 2002. Also enclosed is a letter from the Actuary regarding the actuarial impact statement which must be sent to Charles Slavin and Patricia Shoemaker at the Division of Retirement in Tallahassee. If you have any questions or need any additional information, please contact me. Sincerely, ) J�S�- Dan Gatzulis Administrative Manager Enc. -- SOUTURN _= ACTUARIAL SERVICES January 13, 2003 Mr. Daniel, E. Cra#zitlis First Benefit Services, Inc. 7930 U.S. Highway 301 North, #A Tampa, FL 33637 Re: Qry oflarm=c E Iovc& PeM5ia11 PT itv of Tamarac Firefi ' PmsicA Tan REcE��d �OsT o��>: B0z Asa HUMAj 1 RES..URCES 3�3 ATUNT4&ORGIA 3030-*3 03 JAN 13 PM 2: 24 TWHOK 710.3Y.0980 rolmlu 7jg92,2193 WWWS09HERHACMARIALCOM in response to your request, we have reviewed the impact of proposed Tcmporaxy ordinance 1995 as submined to us by your office earlier today. The proposed ordinance ciazifes the pension benefits payable by cacti pl= to chow participants who are employed by the City in more than one employment classification and, therefore, accrue a pension benefir under two or more of the pension plans sponsored by the City. We have determined that the proposed ordinance will ba've no actuarial impam on subject plans. If you have any questions, please do not hesitate to call me. Sincerely, Charles T. Carr Ccrcssulting Actuary i WORM LO aM A77818 bSWGJ ROAD, 581TV00, ATMA, GPRQ 30350