HomeMy WebLinkAboutCity of Tamarac Ordinance O-1987-0371
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Introduced by: 1'�� Temp. Ord. 41336
CITY OF TAMARAC:, FLORIDA
ORDINANCE NO. 0-87-_2LZW
AN ORDINANCE REPEALING ARTICLE I OF CHAPTER
19 OF THE CODE OF ORDINANCES OF THE CITY OF
TAMARAC PERTAINING TO THE CITY'S PENSION
PLAN ADOPTING A NEW PENSION PLAN AND THEREBY
CREATING A NEW ARTICLE I OF CHAPTER 19 OF THE
CODE OF ORDINANCES PROVIDING THAT THE PRIOR
PENSION PLAN SHALL APPLY TO ALL PERSONS
CURRENTLY RECEIVING BENEFITS THEREUNDER
PROVIDING FOR TIE CREATION OF THE CITY OF
TAMARAC EMPLOYEES PENSION TRUST FUND AND A
BOARD OF TRUSTEES TO HOLD AND ADMINISTER
SAME, THE METHOD FOR APPOINTING SAID TRUSTEES
AND THEIR POWERS, METHODS OF COLLECTING MONEY
FOR SAID TRUST FUNDS, THE POWERS AND DUTII S
OF SAID TRUSTEES, THE METHOD FOR RESOLVING
CONTROVERSIES AND DISPUTES AND FOR
TERMINATING SAID TRUST, ESTABLISHING THE CITY
OF TAMARAC EMPLOYEES PENSION PLAN AND SETTING
FORTH THE REQUIREMENTS FOR PARTICIPATION IN
SAID PLAN AND EARNING VESTING -AND BENEFIT
CREDITS IN SAID PLAN, PROVIDING FOR PENSION
BENEFITS, EARLY RETIREMENT BENEFITS,
DISABILITY BENEFITS, AND RETURN OF
CONTRIBUTIONS AND PROVIDING THE ELIGIBILITY
AND METHODS FOR DETERMINING THE AMOUNTS OF
SAID BENEFI'..'S, PROVIDING, FOR THE PAYMENT OR
SUSPENSION OF BENEFITS FROM EMPLOYMENT AFTER
RETIREMENT, SPOUSES PRE -RETIREMENT SURVIVOR
BENEFITS, AND LUMP SUM PAYMENT'S OF BENEFITS,
AND PROVIDING THE ADMINISTRATION AND
OPERATION OF THE PLAN PROVIDING FOR
CODIFICATION PROVIDING FOR REPEALER
PROVIDING FOR SEVERABILITY AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, a public hearing has been held pursuant to Chapter
166, Florida Statutes and
WHEREAS, the City Council of the City of Tamarac determines
that it is in the public interest to adopt the following
"Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF TAMARAC, FLORIDA:
SECTION 1: That existing Article I of Chapter-19 of the
Code of Ordinances of the City of Tamarac (Sections 19-1 through
19-1.3), entitled, Personnel_ (In General), pertaining to
pensions, is hereby repealed in its entirety, but shall apply to
all persons presently receiving benefit, pursuant to existing
Article I of Chapter 19.
SECTION 2: That a new Article I of Chapter 1.9 of the Code
of Ordinances of the City of Tamarac is hereby created to read as
follows:
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PART I
DECLF,RATION OF TRUST
CITY OF TAM.ARAC
EMPLOYEES'
PENSION TRUST FUND
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CITY OF TAMARAC
EMPLOYEES' PENSION PLAN
TABLE OF CONTENTS
PART I - DECLARATION OF TRUST
SECTION 1 - DEFINITIONS PAGE
Section 1.1 City ...................................... l
Section
1.2
Participant ............................... 1
Section
1.3
Beneficiary ............................... 1.
Section
1.4
Trustees .................................. 1
Section1.5
Trust Fund ................................ 1
Section
1.6
Declaration of Trust ...................... 1
Section
1.7
Pension Plan .............................. 1
Section
1.8
Cont.ributions ........................ 1
Section
1.9
Consultant..................6............. I
Section
1.10
Administrator .............................. 1
Section
1.11
Custodian......... 6....................... 1
Section
1.12
Named Fiduciary ..........................,. 2
SECTION 2 -- CREATION AND PURPOSES OF FUND
Section
2.1
Creation ................................. 3
.
Section
2.2
Effective Date..........
6................. 3
SECTION 3 - BOARD OF TRUSTEES
Section
3.1
Number, Appointment, Term ................. 4
Section
3.2
Resignation and removal .................. 5
Section
3.3
Successor Trustees, Assumption of Office.. 5
Section
3.4
Acceptan,°e of the Trust by Trustees......,, 5
Section
3.5
Limitation of Liability of Trustees....... 5
Section
3.6
Office of the Fund ........................ 5
Section
3.7
Officers .................................. 5
Section.
3.8
Power to Act in Case of Vacancy........... 5
Section
3.9
Meetings Notices ......................... 5
Section
3.10
Attendance at Meetings Minutes............ 6
Section
3.11
Quorum Voting Action Without Meeting..., 6
Section
3.12
Removal of Trustees ....................... 6
SECTION 4 - CONTRIBUTIONS AND COLLECTIONS
-Section
4.1
Employer Contributions ....................
7
Section
4.2
Receipt of Payment and Other .Property of
Section
4.3
Trust .....................................
Collection and Enforcement of Payments....
7
7
SECTION 5 -- POWERS .AND DUTIES OF TRUSTEES
Section
5.1
Conduct of Trust Business ..................
8
Section
5.2
Use of Fund for Expenses ...................
8
Section
5.3
Use of Fund to Provide Benefits............
8
Section
5.4
Investments... ..........................
8
Section
5.5
Deposits and Disbursements .................
9
Section
5.6
Allocation and Delegation of
Non -Investment Responsibilities............
9
Section
5.7
Committees of the Board of Trustees........
9
Section
5.8
By --Laws, Riles and Regulations .............
9
Section
5.9
Addi4i nal Authority .......................
9
Section
5.10
Bonds... ...................
1;)
Section
5.11
Insurance ..................................
10
Section
5.12
Information to Participants an,i
Beneficiaries ..............................
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Section
5.13
Accountants and Actuaries .................
10
Section
5.14
Trustee Reimbursement ......................
10
Section
5.15
Reports....................................
10
Section
5.16
Records of Trustees' Transactions.
10
Section
5.17
Construction and Determination by Trustees.
11
Section
5.18
Liability... ..............................
11
Section
5.19
Reliance on Written Instruments...,.,,. .
11
Section
5.20
Discharge of Liability....................
12
Section
5.21
Establishment of Plan ......................
12
Section
5.22
Amen&-ient of Plan ..........................
13
SECTION 6 - CONTROVERSIES AND DISPUTES
Section
661
Submission .o Trustees .....................
14
Section
6.2
Settling Disputes....... 6..................
14
-SECTION 7 - BENKFICIAI. RIGHTS
Section
7.1
No Right, Title or Interest of the City of
Section
7.2
Tamarac ...................................
Limitation Upon Beneficial Fights
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ofEmployees ..............................
15
SECTION 8 - TERMINATION OF TRUST
Section
8.1
Conditions of Termination..: .............
16
Section
8.2
Procedures in Event of Termination.........
16
SECTION 9 - MISCELLLANEOUS
Section
9.1
Law App_ic:able.......... 6.................,.
17
Section
9.2
Savings Clause
17
Section
9.3
.........................
Reciprocity Agreements ......................
17
Section
9.4
Judicial Settlements .... 6...............
17
Section
9.5
Withholding Payment. .........................
17
Section
9.6
Qualifications of Trust Personnel......., ...
17
Section
9.7
Vesting of Rights ..................
17
Section
9.8
Gender
Section
9.9
............... ......................
Amendment to Declaration ....................
17
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SUB --PART I - DEFINITIONS
Section 1-1
Section 1-2
Section 173
Section 1-4
Section 1-5
Section 1-6
Section 1-7
Section 1-8
Section 1-9
Section 1-10
Section 1-11
Section 1-12
Section 1-13
Section 1-14
Section 1-15
Section 1-16
Section 1-17
PART II
SECTION I -- DEFINITIONS
Actuarial Equivalent ........................
Average Final Compensation ..................
Board of Trustees ...........................
City........................................
Covered Employment ..........................
Domestic Relations Order ....................
Fire Fighters .............................
General Employee ..........................
Married ......................................
Maternity or Paternity Leave..,.,
Pension .....................................
Pension Plan ................................
Plan Year ...................................
Police Officer ..............................
Retirement ..................................
Service ....................................
Vested .......................................
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SUB -PART II - CREDITED SERVICE
SECTION 2 - PARTICIPA` 10N IN THE PENSION FLAN
Section 2-1 Participation ...........................�...
SECTION 3 - VESTSNG CREDITS
Section
3-1
Vesting Schedules...........
Section
3-2
Vestin3 Credits
Section
3-3
.............................
Changes in Vesting Schedule................
Section
3-4
Vesting of Benefits
.........................
SECTION 4 - BENEFIT CREDITS
Section
4-1
Break in Service.........
Section
4-2
Loss of Credi.ts
Section
4-3
............................
.................
Refund of Contributions
Section
4-4
...
Re -Entry into the Pension Plan ..............
SUB -PART
III_-
PENSION BENEFITS
SECTION 5 - PENSION BENEFITS
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Section
5-1
Right
to Pension
Benefits... ................
27
Section
5-2
Early
Retirement
Age ..............
27
Section
5-3
Early
Retirement
Benefit........ ..........
...
27
Section
5-4
Normal
Retirement
Age .......................
27
Section
5-5
Normal
retirement
Benefit ...................
27
SECTION 6 - FORMS OF BENEFIT PAYMENTS
Section
6-1
Forms of
Benefit Payments ...................
27
Section
6-2
Standard
Benefits
Section
6-3
Optional
..................
Benefits
28
Section
6-4
Election
............ ............
of Optional Benefits ...............
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28
Section.6-5
Revocation
of Election .............
L9
Section
6-6
Notice of
Forais of Pension Benefits.........
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SECTION 7 - FORDS OF BENEFIT PAYMENTS
Section
7-1
Rights to Disability Benefits ...............
30
Section
7-2
Amount of Disability Benefits ...............
31
Section
7-3
Disability Exclusion ....................
33
-Section
7-4
Determination of Disabiliti.................
34
SECTION 8 - PAY ENT OF BENEFITS
• Section
a-1
Payment of Benefits .........................
36
SECTION 9 - BENEFIT LEVEL
Section
9-1
Calculation of Benefit Amount ................
37
Section
9--2
Benefit Level ......................
37
Section
9-3
Maximum Benefit Amount .......................
37
SECTION 10 - P1 PLOYMENT AFTER RETIREMENT
Sectionl0-1
Suspension of Benefits .....................
39
Section
10-2
Notice of Re -Employment and Re --Retirement:...
39
Section
10-3
Advance Determination of Prohibited Work....
39
Section
10-4
Resumption of Benefits ......................
39
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SECTION 11 - SPOUSE'S PRE-RETIREIENT SURVIVOR BENEFITS
Serr i onl l -1 Forms of Spouse's Survivor Benefit Payments..... 41
Section 11-2 Standard Spouse's Survivor Benefits ............. 41
Section 11--3 Spousal Consent...... ............................ 41
SUB -PART IV - LUMP SUM DISTRIBUTIONS
SECTION 12 - LUMP SUM PAYMENTS
Section 12-1 Involuntary Lump Sum Distributions .............. 43
Section 12-2 Interest Assumption ............................ 43
SUB -PART V -- ADMINISTRATIOA AND OPERATION OF THE PLAN
SECTION 13 - ADMINISTRATION
Section
13-1
Board of Trustees ................................
44
Section
13-2
Claims for Benefits ......................
44
Section
13-3
.r .
Multiple Claims Prohibited..........
45
Section
13-4
....
Notification of Mailing Address................ •
45
Section
13-5
Benefits Payable to Minors and Incompetents__
45
SECTION 14 - CLAINS NOTICES AND INQUIRIES
Section
14-1
Claims,
Notices and Inquiries ...................
47
Section
14-2
Response
to Claims and Inquiries..
47
Section
14-3
Denial
of Benefits. ...................`.......
47
Section
14-4
Claims
Review Procedure .............. .�
47
Section
14-5
Exhaustion
.....
of Claims Review Procedure...........
49
SECTION 15 -- FUNDING
Section
15-1
Funding .........................................
50
Section
15-2
Participant Contributions...........
50
Section
15-3
...
State Contributions ..........................
50
Section-15-4
City Contributions ..............................
51
Section
15-5
Basis of Payments from the Pension Plan.........
51
SECTION 16 -- EFFECT OF DOMESTIC RELATIONS ORDERS
ON PAYMENT OF BENEFITS
-1
Assignment of Benefits Upon Divorce............
52
Section
16-2
Filing of Claims .............................
52
-Section
16-3
Alternate Payee .... ............................
52
Section
16-4
Notice of Receipt of Claim ......................
52
Section
16-5
Designation of Representative ...................
52
Section
16-6
Payment of Benefits Pending Trustees' Decision..
53
Section
16-7
Qualified Domestic Relations Orders............
53
Section
16-8
Payment of Benefits After Trustees' Decision....
53
Section
16-9
18 Month Limitation .............................
54
Section
16--10
Interpleader.....................................
54
SECTION 17 -- KISCELLANEOUS
Section
17-1
Construction .....................................
55
Section
17-2
Standard of Proof.....
Section
17-3
.........................
Benefits Not Assa.gnable.........................
55
55
Section17-4
Forfeitures
Section
17-5
.....................................
Merger
55
Section
17-6
............. .... .......................
Termination of Pension Plan, .... * ...............
56
56
Section
17-7
Incorpc,ation by Reference ....................
56
Section
17-8
„
Amendme,it of Pension Plan .......................
56
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CITY OF TAMARAC ENPLOYiEES
PENSION TRUST FUIM"D
PART I -- DECLARATION OF TRUST
STt(" rTnN I
DEFINITIONS
Section 1.1 qjy. The term "City" as used herein shall mean
the City of Tamarac, a Florida municipal corporation.
Section _1.2Participant. The term "Participant" shall mean
any pensioner or beneficiary receiving or 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.
Section 1.3 Beneficiary. The term "Beneficiary" shall mean
a person designated by a participant or by the terms of the
Pension Plan created pursuant to this Declaration of Trust, who
is or may become entitled to a benefit, thereunder.
Section 1.4 Trustees. The term "Trustees" as used herein
shall mean the Trustees designated in this Declaration of Trust,
together with their successors, designated and appointed in
accordance with the terms of this Declaration of Trust.
Section 1.5 Trust Fund. "Trust", "Trust Fund" and "Fund" as
used herein shall mea the entire trust estate of CITY OF TAMARAC
EMPLOYEES' PENSION TRUST FUND as it may, from time to time be
constituted, including, but not limited to, all fends received in
the form of contributions, together with all contracts (including
dividends, interest, refunds, and ether sums payable to the
Trustees on account of such contracts), all investments made and
held by the Trustees, all income, increments, earning, and
profits• therefrom, and any and all other property or funds
received and held by the Trustees by reason of their acceptance
of this Declaration of Trust.
Section 1.6 Declaration of Trust. The term "Declaration of.
Trust" as used herein shall mean Chapter ,I of this ordinance
including all amendments and modifications as may from time to
time be made.
Section 1.7 Pension Plan. The term "Pension
shall mean
the payment
ordinance.
the plan, program, inethod, rules, and
of benefits from the Trust Fund which
Plan" or "Plan"
procedures for
is part of this
Section 1.8 Contributions. The term "contributions" shall.
mean the payments required of the City of Tamarac and the State
of Florida for this Fund, or payments made by or on behalf of
participants or their beneficiaries.
Section 1.9 Consultant. The term "consultant" as used
herein shall mean any person or entity who, for compensation,
advises, represents, or provides other assistance to the Trustees
concerning the establishment, or operation of the Plan as defined
in Section 1.10.
Section 1.10 Aduinistrator. The term "Administrator" as used
herein shall mean th, Board of Trustees as defined in Section 1.6
herein.
Section 1.11 Custodian. The term "custodian" as used herein
shall mean one who is officially entrusted with guarding and
keeping records and documents of this Trust Fund.
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Section 1.12 Named F'iduciar_y. The term "named fiduciary" as
used herein shall mean the Board of Trustees as defined in
Section 1.4 herein.
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CREATION AND PURPOSES OF FUND
Section 2.1 Creati.on. 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.
Section 2.2 Effective Date. This Ordinance and Declaration
of Trust shall be in full force and effect as of January 1, 1987.
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4VI MTnit 7
BOARD OF TRUSTEES
Section 3.1 Number, Ao_intment, _ 'Perm.
(a) The Plan shall be adminstered by seven (7) Trustees and
seven (7) alternate trustees.
( 1 ) One trustee and one alternate shall be elected by the
supervisory, confidential and managerial employees of the City
who participate in the Plan
(2) One trustee and one alternate shall be elected by the
Plan participants who are in the general employees bargaining
unit
(3) One trustee and one alternate shall be elected by the
fire fighters employed by the City who participate in the Plan
(4) One trustee and one alternate shall be elected by the
police officers employed by the City who participate in the Plan
(5) One trustee and, one alternate shall be appointed by the
Mayor .
(6) One trustee and one alternate shall be appointed by the
City Manager and
(7) One trustee and one alternate shall he appointed by the
Finance Director.
(8) The trustees and one alternate elected by employees
must be Plan participants who are or were members of the employee
group which elected thes:i.
(9) The Mayor, City Manager and Finance Director may
appoint• themselves as trustees or alternates. Should they
appoint another person, that person must, at all times while
serving as a trustee, be an employee, officer or a City Council
member of the City of Tamarac.
(.10) Alterate trustees shall, in the absence of the
regularly appointed trustees, have all of the powers of trustees.
-(b) Appointed trustees and alternates shall serve at the
pleasure of the city official who appointed them..
(c) Elected trustees shall serve three years terms, commencing
on June 1st of the year in which they are elected. The City
Clerk shall conduct the elections by secret ballot d�jring April
or May prior to the expiration of a trustee's term. The trus-tees
in office on January 1, 1987 shall continue in office until the
following dates:
(1) Managerial, confidential and supervisory - May 31,
1988, after which a trustee shall be elected to a one year term
(June 1, 1988 to May 31, 1989) after which a trustee shall be
elected to a three year term commencing June 1, 1989
(2) General employees May 31, 1988
(3) Fire fighters and police officers - May 31, 1987
(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
shall be filled in the same manner as was utilized to select the
original trustee. Sucessors to elected trustees shall serve out
the unexpired term of the prior trustee.
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Section 3.2 Resignation and Removal, A Trustee may resign
and become and remain fully discharged from all further duty or
responsibility hereunder upon giving thirty (30) days' notice in
writing to the remaining Tzustees and to the party by whom he was
Appointed, or such shorter notice as the remaining Trustees may
accept as sufficient. In the notice there shall be stated a date
on which such resignation shall take effect and such resignation
shall take effect on the date specified in the notice unless a
Successor Trustee shall have been appointed at an earlier date,
in which event such resignation shall take effect immediately
upon the appointment of such successor Trustee.
Section 3.3 Successor Trustees�Assumption_of._Of f ice. 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.
Section 3.4 Acceptance of the Trust by Trustees. A Trustee
shall execute a written acceotance in a form satisfactory to the
Trustees. By executing 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 w*,ith the Secretary who
shall notify the remaining Trustees of the receipt of such
acceptance.
Section 3.5 Limitation of Liability of� Trustees. No
Successor Trustee shall in any way be liable or responsible for
anything done or cominittecd 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
delegated pursuant to this Trust Declaration, nor shall any
Trustee be liable for the acts or omission, of any investment
manager,. attorney, agent, or assistant employed by them pursuant
to this Agreement, if such person's performance was periodically
reviewed by the Trustees who found such performance to be
satisfactory.
Section 3.6 Office of the Fund. The principal offices of
the Trust Fund shall be located and maintained in 1Broward County,
at Tamarac City ball, or at such other locations in the City of
-Tamarac as the Trustees may determine.
Section--3.7 Officers. The Trustees shall elect from among
themselves a Chairman, a Vice -Chairman, and a Secretary for a
term of one (1) year, or until his or their successors have been
elected. The Secretary or such other person as the Trustees ir.ay
designate, shall keep minutes and records of all meetings,
proceedings and acts of the Trustees and shall, with reasonable
promptness, send copies of such minutes and records to all
Trustees, and legal counsel. The Chairman, and in his absence
the Vice -Chairman, shall preside at all meetings of. the Trustees
and shall be entitled to one vote on all matters.
Section 3.8 Power to ActinCase of Vacancy. in case of
death, resignation or refusal or inability to act of any one 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, lrovided that, in such cases there shau
be no change in t.h quorum or voting requirements established
in Section 3.1 hereof.
Section 3.9�Meeting_s Notices. The Trustees shall meet at
such 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
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meeting of the Trustees at any time by giving at least f ive ( 5 )
days' notice in writing, of the time and place thereof to the
remaining Trustees.
Section 3.10 Attendance at Meetings Minutes. Written
.ainutes, a copy ofwhichshall, 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 signa-ure of the Secretary and shall be approved
at the succeeding meeting.
Section 3.11 Quorum _ Voting Actiony'ithout Meeting
(a) A quorum of the Board of Trustees shall be at least
four Trustees or alternate Trustees.
(b) Any action taken by the Trustees, except as herein
otherwise provided, shall be by affirmative vote of a'majority of
the votes cast at a meeting. The Trustees must cast their votes
in person.
Section 3.12 Removal of Trustees. The Board of Trustees
shall initiate action to cause the removal of any fellow Trustee
who may be serving as a Trustee in violation of this Agreement or
other applicable law. The vacancy or vacancies caused by such a
removal shall be filled in accordance with Section 3.3 of this
Article.
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CONTRIBUTIONS AND COLLL)CrIONS
Section 4.1 FMplo P�Y r Contributions.
( a ) The City and participants sha11 make prompt
contributions or payments to the Trust Fund in such amounts and
under the terms as are provided for in this ordinance and as
required by law. Such contributions or payments are absolute
obligations to the Trust Fund, and such obligations shall not be
subject to (by way of illustration and not limitation,) set --off
or counterclaim which the City or any participant may have for
erroneous contributions t7 any other Trust Funds, or for any
other liability of any Employee, the City, the Trustees, or any
other 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.
Section 4. 2 Receipt of F`ayment and_ Other P )ert of Tr_ust .
The Trustees or such other person or entity designate_or
appointed by the Trustees in accordance with Section 5.8 of
Article V are hereby designated as the eersons to receive the
payments heretofore or hereafter 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 may be accrued thereon, and are authorized to receive and
be paid the same.
Section 4.3 Collection and Enforcement of PAyments. The
Trustees, or such committee of the Trustees as the Board of
Trustees shall appoint, and when directed by such commmittee or
by the Board of Trustees, 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, 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 determine to be in the best interest of the Trust Fund
for the purpose of collecting such payments, money and property.
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SECTION 5
POWERS AND DUTIES OF TRUSTEES
Section 5.1 Conduct of Trust Business. The Trustees shall
have general supervision o. the operation of this Trust Fund and
shall conduct the business and activities of the Trust Fund in
accordance with this Trust Agreement and 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 of Tamarac
Employees' Pension Trust Fund.
Section 5.2 Use of Fend 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, supplies and
equipment and the performance of such other acts, as the
Trustees, in their discretion, find necessary or appropriate in
the performance of their duties.
Section 5.3 Use of Fund to Provide Benefits. The Trustees
shall have the power and authority touseand apply the Trust
Fund to pay or provide for the payment of retirement End related
benefits to eligible participants and beneficiaries in accordance
with the terms, provisions and conditions of the Pension Plan.
Section 5.4 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. These investment
procedures are a variance of the investment procedures outlined
in F.S. Sections 175.071(1)(b) and 165.06(l)(b), as such variance
is permitted by said sections.
The Trustees may sell, exchange or otherwise dispose of such
investments at any time and, from time to time, as provided in
Section 5.9 M. 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.
(b) Delegation and Alloc.ati_on 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 5.7, provided, however, that such action, shall. have
been approved by a majority vote of the Trustees as provided in
Section 3.12.
(2) The Trustees shall have the power and authority tc
appoint one or more investment managers who shall be responsible
for the management, acquisition, disposition, investing and
reinvesting of such of the assets of the Trust Fund as the
Trustees shall specify. Any such appointment may be terminated
by the Trustees upon -;ri.tten notice. The fees of such investment
manage::, and its expk -ises 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
fiduciary with respect to the Plan.
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(3) In connection with any allocation or delegation of
investment functions under paragraphs (1) and (2) of this
subsection (b), the Trustees shall, from time to time, adopt
appropriate investment policies or guidelines.
Section 5.5 Deposits and Disbursements. All Trust monies
not invested shall be deposited by the Trustees in such
appropriate depository or depositories 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 designatf.d and authorized by the Trustees or by the
Investment Manager appointed in accordance with Section 5.4(b)(2)
of this Article.
Section 5.6 Allocation and De1e_gation of No
Responsibilities. The Trustees may, by resolution or by-law or
by provisions of this Trust Agreement, allocate fiduciary
responsibilities and various administrative duties to committees
br subcommittees of the Board of Trustees. In addition, the
Trustees may delegate such responsibilities and duties to other
individuals as they may deem appropriate or necessary in their
sole discretion, and consistent with state law provided, however,
that such action shall have been approved by a majority vote of
the Trustees, as provided in Section 3.12.
Section 5.7 Committee of the Board of Trustees. Each
committee or subcommittee shall consist of at least two Trustees.
A quorum of a committee shall be at least two Trustees or
alternate Trustees.
Section 5.8 _By -Laws., _.Rules and Regulations.
(a) The Trustees are hereby empowered and authorized to
adopt by-laws and to promulgate any and all necessary 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. All
by-laws, 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 by-law, regulation, rule, action or
dct^_--_4:wtion 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.
Section 5.9 Additional Authority_. The Trustees are hereby
empowered in addition to such other powers as are set forth
herein or. conferred by law:
(a) To enter into any and all contracts anti agreements
for carrying out the terns 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
(b) To keep property and securities registered in the
name of the Trustees or of the Fund
(c) To 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 such Trust Fund
(d) To pay out of the Trust Fund all real and personal.
property taxes, income taxes, and other taxes of any and all
kinds levied or assessed under existing or future laws upon or in
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respect to the Trust Fund, or any money, property, or securities
forming a part thereof
(e) To 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
(f) To sell, exchange, lease, convey, mortage 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, mortgage and transfer in connection therewith.
Section 5.10 Bonds. The Trustees shall obtain from an
authorized surety company such bonds as may be required by law or
desired by the Trustees covering such persons and in such amounts
(but not less then 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.
Section 5.11 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,
(a) with respect to liability to others as a result of acts,
errors or omissions of such Trustee or Trustees, Employees or
agents, respectively, -nd
(b) with respect to injuries received or propert} damage
suffered by them.
The cost of the p,:em.iums for such policies of insurance
shall be paid out of the Trust Fund.
Section 5.12 Information to Participants and Beneficiaries.
The Trustees shall provide participants and beneficiaries such
information as may be required by law.
Section 5.13 Accountants and Actuaries. The Trustees shall
engage one or more independent qualified public accountants and
one or more enrolled actuaries to perform all services as may be
required by applicable law and such other services as the
Trustees may deem necessary. The costs incurred under this
Section shall be paid out of the Trust Fund.
Section 5.14 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 Ystablished by the Board of
Trustees, 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
wages that he has lost by reason of his performance of duties for
the Trust Fund in accordance with any reasonable schedule for
reimbursement which may be established by the Board of Trustees.
Section
5.15 Reports. The Board of Trustees shall make
reports to and file such information with appropriate public
authorities as may be required by applicable law.
Section 5.16 Records of Trustee_ Transactions. Tne Trustees
shall keep true and accurate books of account wand a record of all
of their transactions and meetings (including actions taken at
such meetings and by informal action of the Trustees), which
records and books shall be audited at least annually by a
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certified public accountant. A copy of each audit report shall
be available for inspection by interested persons at Tamarac City
Hall at reasonable times and after reasonable notice.
Section 5.17 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 matter,. They shall have full power to construe the
provisions of this Declaration, the terms used herein and the by-
laws 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
any of the parties under any of such collective bargaining
agreements.
Section_5.18 Liability. The Trustees, to the extent
permitted by applicable law, shall incur no liability in acting
upon any instrument, application, notice, request, signed letter,
telegram or other paper or document believed by thein to be
genuine, to contain a true statement of facts, and to be signed
by the proper person.
Section 5.19 Reliance on Written Instruments.
(a) By _Trust °es. Any Trustee, to the extent permittee
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 5.1 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 rather proceeding
between any participant or any other person and the Trustees, the
Trustees shall be entitled to rely upon any facts appearing in
the records of the Trustees, any instruments on file with the
Trustees, or with the City, and any facts certified to the
Trustees, by the City, and 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
(A) To see the application to the stated Trust
purposes of any funds or property of the Trust Fund or.'
(B) To see that the terms of this Declaration have
been complied with or
(C) To 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 every person relying thereon
(A) That at the time of execution of said
instrument the Trust b,as in full force and effect,
(B) That the instrument was executed in accordance
with the terms and conditions of this Declaration, and
(C) That the signing Trustees were duly authorized
and empowered to execute the instrument.
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(c) Reliance on Counsel's 0 inion. The Trustees may consult
with 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 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 therefore to the extent permitted oy applicablo
law.
Section 5.20 Discharge of Liability. The receipt by the
Trustees of any mone; or property car cheeks (after such checks
are honored at the bank and paid to the Trust Fund) shall
discharge the person or persons paying or transferring the same
to the extent of such payme,it or transfer.
Section 5.21 Establishment of Plan.
(a) The Trustees and the Tamarac City Council shall adopt a
written Pension Plan wherein the Trustees, as named fiduciaries,
shall have the authority to control and manage the operation and
administration of the Plan. Such Plan shall provide for the
payment of such retirement pension benefits, permanent disability
pension benefits, death benefits, and related benefits, as are
required by law or feasible. The Trustees may also enter into
agreements with other Trustees of Pension -Plans which conform to
the applicable sections of the then applicable Internal Revenue
Code for purposes of tax deduction for the reciprocal recognition
of service credits and payments of pension benefits based upon
such service credits. The Trustees shall not be under any
obligation to pay any :)ension if the payment of such pension will
result in loss of the Trust Fund's tax exempt status under the
then applicable Internal Revenue Code and any regulations or
rulings issued thereto.
(b) The Trustees and the City Council shall promulgate
rules, regulations, and procedures for the operation of the
Pension Plan, including, by way of illustration and not
limitation:
(1) conditions of eligibility for participants and
beneficiaries
(2) standards for vesting of benefits
(3) a schedule of the type and amount of benefits to
be paid
(4) a procedure for the payment of benefits :.n the
form of a, qualified joint and survivor annuity
(5) procedures for claiming benefits aria 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) the establishment and maintenance of a funding
standard policy
(8) a procedure for establishing and carrying out a
funding policy
(9) any procedures for the allocation or
responsibilities for the operation and administration of the Plan
Plan.
(10) the basis on which payments are made from the
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Such Pension Plan shall at all times comply with all
applicable laws.
(c) The Trustees shall agree by a majority vote of
their total number to the Plan which shall. then be submitted ::o
the Tamarac City Council for enactment as an ordinance. This
Plan and any amendments thereto, shall qualify under applicable
provisions of the Internal Revenue Code.
Section 5.22 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
applicable Internal Revenue Code, all other applicable law, and
the purposes as set forth in this Declaration and are approved by
the Tamarac City Council. Additionally, and not by way of
limitation, the Trustees and the City Council 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
dxempt status or to preserve compliance with the then applicable
Internal Revenue Code, and all other applicable 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.
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COWRO'VERSIRS AND DISPUTES
Section_6.1 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 Regulations adopted by the Trustees, be submitted to
the Trustees, a com miltee of the Trustees, or an arbitration beady
if the Trustees so provide, and the decision of the Trustees, the
committee or arbitration body shall be final and binding upon all
persons dealing with the Tr�ist fund or Plan, or claiming benefits
thereunder.
Section 6.2• Settling Disputes. The Trustees may in their
sole discretion compromise or settle any claim or controversy in
such manner as they think best, and any majority deci"sion 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 binning on all parties involved
in this Trust.
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SECTION 7
H)KNEFICIAL RIGHTS
Section 7.1 No Ri ht 'Title or Interest of the City of Tamarac.
The City of Tamarac, 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 terns and conditions set forth
rin the Pension Plin. There shall be no prorata 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
any purpose or reason, excEpt as required by law.
Section 7.2•Limitation Uvon Beneficial Riahts of Emrilovees.
(a) 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 any other process. In the evert that any
claim or benefit shall, because of any debt incurred by or
resulting from any other claim or liability against any Employee,
Participant, or Beneficiary, by reason of. any sale, assignment,
trancfAr, encumbrance, anticipation, or other disposition made or
attempted by said Participant, Beneficiary, or Employee, or by
reason of any seizure or sale or attempted sale under any legal,
equitable or other process, or in any suit or proceeding, become
payable, or be liable to become payable, to any person other than
the Participant or Beneficiary, no benefit shall be payable under
the Pension Plan until such assignment, transfer, encumbrance,
anticipation or other disposition, writ or legal process is
cancelled or withdrawn in such a manner as shall be satisfactory
to the Board of Trustees. Until so cancelled or withdrawn, the
Board of Trustees shad have the right to use and apply the,
benefits as the Board of Trustees may deem best f.:tr the support
and maintenance of such Participant or Beneficiary.
(b) This Section shall not apply to qualified domestic
relations orders to the extent provided in the Pension Plan.
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TMNINATION OF TRUST
Section 8.1 Conditions of Termination. This Trust Agreement
shall cease and terminate upon the happening of any one or more
of the following events:
(a) In the event the Trust Fund shall, in the opinion of the
Trustees, be inadeq.-ate 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
(b) In the event there are no individuals living who can
qualify as Employees hereunder.
(c) In the event of termination as may be otherwise
provided by law.
Section 8.2 Procedure in Event of Termination.
In the event of termination, the Trustees shall:
(1) Make provision 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
(4) Distribute the remaining assets among the
participants and beneficiaries of the Flan, in accordance with
and other applicable law.
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SECTION 9
MISCEM,ANEovs
Section 9.1 Law Applicable. This Trust is created and
accepted in the State of Florida and all questions pertaining to
the validity or construction of this Trust Agreement and of the
acts and transactions of the parties hereto shall be determined
in accordance with the laws of the State of Florida, except as to
matters governed by Federal Law.
Section 9.2 Say, i_ngsClause. Should any provision of this
Agreement and Declaration of Trust be held to be unlawful, or
unlawful as to any person or instance, such fact shall not
adversely affect the othe.: provisions herein contained or the
application of said provisions to any other person or instance,
unless such illegality shall make impossible the functioning of
this Fund.
Section 9.3 Reci2rocity Agreements. The Trustees may, in
their sole discretion, enter into such reciprocity agreement or
agreements with other pension funds as they determine to be in
the best interests of the Trust Fund, provided that any such
reciprocity agreement or agreements shall not be inconsistent
with the terms of this Trust Agreement.
Section 9.4 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 determine necessary and, further, to obtain a
judicial determination or declaratory judgment as to any question
of construction of this Trust Agreement or for instructions as to
any action thereunder, and, further, 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 claiming under, this Trust Agreement.
Section 9.5 Withholding Payment. In the event any questions
or dispute shall arise as to the proper person or persons to whom
any payments shall be made hereunder, the Trustees may withhold
such payment until there shall have been made an adjudication of
such question or dispute which, in the Trustees' sole judgment,
is satisfactory to them, or until the Trustees shall have been
-fully protected against loss by means of such indemnification
agreement or bond as they, in their sole judgment, determine to
be adequate.
Section 9.6 Qualification of Trust Personnel. No person
shall serve as a Trustee, administrative manager, custodian,
investment manager, or consultant to the Trust Fundy or Plan 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.
Section 9.7 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 Trustees in
conformance with the law.
Section 9.8 Gender. Whenever any words are used in this
Trust Agreement in the ma3culine gender, they shall also ne
construed to includ'? the feminine or neuter gender in all
situations where they would so apply and whenever any words are
used in the singular, t;aey shall also be construed to include the
plural, in all situations where they would so apply and wherever
any words are used in the plural., they shall also be construed to
include the singular.
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Section 9.9 Am_Fndm_ent to Declaration. The provisions of
this Declaration may be amended at any time by an instrument
executed by a majority vote of the Trustees and enacted as an
ordinance by the Tamarac City Council 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
paying the necessary expenses incurred in the administration of
this Trust.
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PART II PENSION FLAN
SUB -PART I DEFINITIONS
SECTION l DEFINITIONS
Section 1-1 Actuarial Equivalence, or
Actuarialy Equivalent
Means that any benefit payable under the terms of this Plan
in a form other that. 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 other than, a lump sum distribution, all. future
payments shall be discounted for interest and mortality by using
7% interest and the 1971 Group Annuity Mortality Table for Males,
with ages set ahead five years in the case of disability
retirees. In the case of a lump sum distribution, the actuarial
present value shall be determined on the basis of the same
mortality rates as iust described and the Pension Benefit
Guaranty Corporation's interest for terminating single employer
plans, which rates are in effect (a) 90 days prior to the
distribution date if distribution is made within six months o;
the member's date of termination, or (b) 90 days prior to the
distribution date if distribution is made later than six months
after the member's date of termination.
Section 1-2 Average Final Compensation
The term "average final compensation" means one -twelfth of
the average annual compensation of the five highest years of
service prior to the employee's normal retirement elate or prior
to the employee's voluntary discontinuance of participation in
the Plan.
Section 1-3 Board of Trustees,
The term "Board of Trustees" shall mean the Trustees
designated in this Ordinance, and any successor Trustees selected
as provided therein acting in a group as the Administrator of
this Pension Plan.
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Section 1-4 City
(a) The term "City" means the City of Tamarac, Florida, a
municipal corporation.
Section 1-5 Covered EmFloyment
The term "covered employment" shall mean service for which
an Employee is obl;gated to pay contributions to this Pension
Plan.
Section 1-6 Domestic Relations Order
The term ."domestic relations order" means any judgment,
8ecree or order (including approval of a property settlement
agreement) which relates to child support, alimony payments or
marital property rights to a spouse (or former spouse), child, or
other dependent of a Participant, made pursuant to a state
domestic relations law.
Section 1-7 Fire Fighter
The term "fire righter" shall mean any person employed Ly
the City who satisfies the definition of fire fighter in F.S.
175.032(l)(a).
Section 1-8 General Employee
The term "general. employee" shall mean any person employed
by the City in covered employment other than a police officer,
fire fighter, or elected official.
Section 1-9 Married
(a) The term "married" means a Participant who is married
on the date of receipt of pension benefits.
(b) Special- Rules - 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.
Section 1-10 Maternity -or Paternrn_ity Leave
(a) The term "maternity or paternity leave" means a
Participant's absence from work by reason of:
(1) the pregnancy of the Participant or
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(b)
(2) the birth of a child of the Participant or
(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.
Leave - Solely for purposes of
determining whether a break in service has occurred as provided
in Section 4--1 (Breaks in Service), and not for purposes of
vesting or benefit accrual, a Participant who is absent from work
to 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 months hours per Plan Year.
(c) Credit- inq Period - The hours of service absent from
work due to maternity or paternity leave shall be credited,
solely for purposes c` excusing a break in service:
(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, in all other eases
(2) in the next following Plan Year.
Section 1-11 Pension
The term "pension" or "pension benefit" shall mean an
early rp*_irement benefit, a normal retirement benefit or a
-disability retiremen'-- benefit.
Section 1-12 Pension Plan
Thp term "Pension Plan" shall mean the City of Tamarac
Employees' Pension Plan.
Section 1-13 Plan Year
The term "Plan Year." shall mean the 12 month period from
October lst to the following September 30th.
Section 1-14 Police Officer
The term "police officer" shall mean any person employed by
the City who satisf is the definition of police officer in F.S.
185.02 (1).
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Section 1-15 Retirement
The term "retirement" or "retired" shall mean the complete
withdrawal of a Participant from any further employment as an
employee, paid consultant or independent contractor of the City.
Section 1-16 Service
(a) The term "service" means years and completed months
of continuous uninterrupted employment as a full-time employee of
the City, commencing on the date of hire, for which a person is
paid, or entitled to payment, by the City:
(1) for the performance of duties or
(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 backpay being awarded, or
agreed to, by the City (irrespective of
mitigation of damages).
(b) Non -Covered Employment -- A person who is paid, or
entitled to payment, by the City shall also be credited with
service for purposes of participation, vesting, and breaks in
service (but not for benefit purposes) based upon service in nor, --
covered employment for the City, provided that the person worked
for the City in covered employment immediately before or
immediately after the non -covered employment, and further
provided that no resignation, discharge or retirement occurred
between the covered employment and the non -covered employment.
(c) 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, a, reported to
the
Board of
Trustees.
(d) Crediting -Period - Service shall be credited for each
year for which duties were performed, or if no duties were
performed, then dur ng the year for which the payment relates.
Section 1--17 Vested
The term "vested" shall meats a non -forfeitable right to a
pension benefit under this Pension Plan.
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SUB -PART II CREDITED SERVICE
SECTION 2 PARTICIPATION IN THE PENSION FLAN
Section 2-1 Participation
(a) A person shall become a Participant on t1.e first day
of service. Each full-time employee of the City shall be a
participant in the -Ian except (1) employees engaged directly by
the City Council shall not be eligible to be Participants in
this Pension Plan and k2) any person covered by the Plan on
February 13, 1980, may elect by September 30, 1987 to discontinue
participation in the Plan such election shall be irrevocable,
and (3) any person initially employed as or promoted to any of
the following classifications shall elect to participate or not
participate in the Plan: City Clerk,, Risk Manager, Chief
Building Official, Assistant Building Official, Deputy City
Engineer, Deputy Utility Engineer, Director of Community
Development (Pl.ann r), Finance Director, Assistant Finance
Director, Personnel Director, Public Works Director, and
Utilities Director/City Engineer, such election shall be
irrevocable for as long as the employee has such position.
Should any Participant elect to discontinue participation in the
Plan as permitted by ( 2 ) and (3) above, the Participant's
entitlement to benefits hereunder shall. be governed by the Plan
provisions in effect.at the time of such discontinuance.
(b) A person shall remain a Participant until the earlier
of:
(1) terminating service prior to earning a vested
benefit and prior to reaching normal retirement age
(2) all benefits have been paid to the Participant or.
(3) the person dies.
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SECTION 3 VESTING CREDITS
Section 3-1_ Vesting Schedules
(a) Early Retirement Benefit - A Participant shall have a
100% vested right to an early retirement benefit as defined in
Section 5-3 upon earning 10 Vesting Credits.
(b) Normal Retirement Benefit - A participant shall have a
100% vested right to a normal retirement benefit upon:
(a) earning 5 Vesting Credits or
(b) reaching normal retirement age or
(c) the termination or partial termination of this
Pension Plan (to the extent funded as of such
date).
Section 3-2 Vesting Credits
A Participant shall earn one Vesting Credit for each year
of service. A Participant may lose Vesting Credits as provided
in Article 4 (Loss of Credits). The total number of Vesting
Credits earned and re_ained shall determine whether a Part.icipanc
has a vested right to a pension benefit.
Section 3--3 Limitation on Changes in Vesting Schedules - No
amendment shall reduce a Participant's vested right to a norms:
retirement benefit at the time such amendment is adopted, or, it
later, at the time such amendment is effective.
Section 3-4 Vestin of Benefits
No Participant.,, beneficiary or other person shall, have any
vested right to a pension benefit unless the Partioiparit has met
the requirements for vesting as provided in this Article.
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SECTION 4 LOSS OF CREDITS
Section 4-1 Breaks in Service
(a) A break in service shall occur when a Participant is
no longer employed by the City as a full --time employee. However,
no Credits shall be lost except as provided in Section 4-2 (Loss
of Credits).
(b) A break in service shall not occur if the Participant
is not employed due to the Participant;
46 (1) entering into the Armed Forces of the United
States, provided the person returns to work
in covered employment within 90 days of
discharge, or within 90 days of discharge
from a hospital, if the person was
hospitalized at the time of separation from
the Armed Forces or
(2) becoming employed by the City in non -
covered employment or
(3) being absent from work due to maternity or
pater ity leave as provided in Section 1-9
(Maternity or Paternity Leave), or due to
unpaid leave of absence approved by the City
or
(4) becoming temporarily totally disabled or
receiving a disability benefit fron the Plan.
Section 4-2 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 vesting credits.
Section 4-3 Refund of Contributions
A Participant who is not vested and suffers a break in
service shall receive a refund of the Participants' Accumulated
Contributions.
Section 4-4 Re -Entry Into The Pension Plan
of Laid -Off Employees
(a) A person who has been paid a refund of Accumulated
Contributions after lay-off by the City and subsequently is re--
employed by the City and earns any Vesting Credits under the
Pension Plan may r :pay to the Pension Plan the Accumulated
Contributions previously received, plus interest on that amount
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at the actuarily 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 Cr-adits previously lost and there shall be no
reduction in the value of any subsequent benefit by the value of
the Accumulated Contributi.,ns previously refunded.
26
SUB -PART III PENSION BENEFITS
SECTION 5 PENSION BENEFITS
Section 5-1 Right_to Pension Benefits
A pension benefit shall be payable if the Participant:
(1) has a vested right to a pension benefit and
(2) has reached the applicable retirement age and
(3) has retired and
(4) has filed a claim for pension benefits.
Section 5-2. Early Retirement A e
The early retirement age shall be the first day of any
month on which or after a Participant has earned ten vesting
credits and has attained age:
(a) 55 for general employees
(b) 50 for police officers and fire fighters.
Section 5-3 Ear).y Retirement Benefit
The early retirement benefit shall be the benefit level
provided in Article 9 (Benefit Level) reduced by one -fifteenth
for each of the first five years and one --thirtieth for each of
the next five years by which the Participant is younger than the
normal retirement age for said Participant on the effective date
of his early retirement.
Section 5-4 Normal Retirement Ace
The normal retirement age shall. be the first day of the
month on after which the Participant attains:
(a) age 62 for general employees
(b) age 57 for police officers
(c) age 55 fire fighters.
Section 5-5 Normal Retirement Benefit
The normal retirement benefit shall be the benefit level
provided in Article 9 (Benefit Level).
SECTION 6 FORMS OF BENEFIT PAYMENTS
Section 6--1 Fo_. is of Benefit Payments
A Participant who has a right to receive a pension
benefit as provided in Section 5--1 (Right to Pension Benefits)
shall automatically be paid the standard form of benefit payment
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unless a timely election is made to receive an optional form of
benefit payment.
Section 6-2 Standard Benefits
(a)
Married Partici ants -
The standard pension
benefit
for married
Participants shall be
a joint and survivor
annuity.
This form of benefit
shall
provide monthly payments of
a smaller
amount for the life
of the
Participant, with monthly
payments
continuing thereafter for the life of the spouse. The monthly
benefit payable .to the spouse shall be 50% of the monthly benefit
Payable during
the joint
lives
of
the
Participant
and
the spouse.
If payment of
a pension
is to
be
made
in the form
of
a 50% Joint
and Survivor Pension, the Pension amount shall be adjusted so as
to be actuarily equivalent to the standard benefit for an
unmarried participant.
(b) Unmarried Participants The standard pension
benefit for Participants who are not married shall be a life
annuity payable for the Participant's 1 ife and ceasing upon his
death.
Section 6-3 Optional Benefits
(a) Sinqle Life Annuity - Any Participant may file an
election to receive monthly payments for life.
(b) Any other actuarily equivalent benefit approved by
the Board.
Section 6-4 Election of Optional Benefits
(a) Manner of Electing Optional Benefits - Optional forms
of benefit shall only be
payments y payable 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) Consent _of Spouse -- The spouse of a married
Participant must consent to any election to waive a joint and
survivor annuity by signing the election before a notary public.
The spouse's written ^onsent must acknowledge the effect of such
a waiver. Consent of the spouse may not be required by the Board
of Trustees, in its sole discretion, if there is nc spouse, or if
the spouse cannot be located, or for such other circumstances as
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may be approved by the Board. Any consent by a spouse (or not
requiring consent as provided herein) shall be effective only
with respect to such spouse.
(c) Time Limits -- Any optional form of benefit payment
must be elected prior to commencement of benefits from this
Pension Plan.
Section 6--5 Revocation of Election
(a) Revocation by Pa_ticipant - An election of a standard
or optional form• of benefit payment may be revoked at any time,
but not later than ten days after receipt of the first payment of
benefits from this Pension Plan. Such a revocation must be in
writing, signed by the Participant.
(b) Consent_of_Spouse - The spouse of a married
Participant must consent to any revocation of a joint and
survivor annuity in the same manner as provided in subsection (c)
of Section 6-4 (Elect�on of Optional Benefits).
(c) If an election is revoked, then the standard form of
benefit payment shall be paid unless another election of an
optional benefit payment is timely made as provided in Section 6-
4 (Election of Optional Benefits).
Section 6-6 Notice of Forms of Pension Benefits
(a) written notice of the availability of all forms of
pension benefits shall be provided to all vested Participants on
an annual basis. "
(b) The notice shall contain a written explanation of:
(1) the terms and conditions of the joint and
survivor annuity and all other forms of
benefits and
( 2 ) the Participant's right to make, and the
effect of, an election to waive the joint
and survivor annuity and
( 3 ) the right: of the Participant's spouse to
consent to a waiver of the joint and
survivor annuity and
( 4 ) the right to revoke, and the effect of a
revocation of, an election to waive the
joint nd survivor annuity and
(5) the right to elect, and to revoke an
election of, any other optional form of
benefit payment.
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SECTION 7 DISABILITY BENEFITS
Section 7-1 Right to Disability -Benefits
(a) Service -connected - A service -connected disability
benefit shall be payable if a Participant:
(1) has suffered a service --connected injury,
illness, disease, of disability which permanently incapacitates
the Participant, either mentally or physically, from his r..egular
and continuous duty for the City, and
(2,) has filed a claim for disablity benefits.
- . b) PresumP it_ on
(1) for all employees who were initially employed
prior to the effective date of this Section, and were members of
the previous
Employees Retirement Plan
for the City
of
Tamarac,
Florida, any
permanent disability,
as described
in
Section
(a)(l), above, which is the result of or caused by tuberculosis,
hypertension or
hear
disease,
or cancer
for police
and fir_
fighter employees
only,
shall be
presumed
to have been
incurred
in the line of duty ::o 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.
( 2 ) for all police and fire employees initially
employed on or after the effective date of this Section, any
permanent disability, as described in sectAon (a)(f), above,
which
is
the result of or caused
by tuberculosis,
hypertension,
cancer
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. This Presumption does not apply to general employees
initially hired on or after the effective dare of this Section.
(c) Non -Service -Connected A non -service connected
disablity benefit shall be payable if a participant;
(1) has suffered a non -service -connected
injury, illness, disease or disability which permanently
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incapacitates the Participant, either mentally or physically,
from his regular and continuous duty or any other gainful full-
time employment, and
(2) has not reached normal or early retirement
age, and
(3) h.i accrued at least two vesting credits, and
(4) has filed a claim for disability benefits.
Section 7--2 Amount o. 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
monthly base wage rate paid by the City -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 Long Term Disability Insurance Benefit. Plan,
Social Security
and Worker's
Compensation, provided that
the
benefit paid by
the Plan
shall not exceed 66 2!3% of.
the
Participant's average monthly salary at the time of disability
for general employees and 75% of the Part icipant's average
monthly salary at the time of disability for police and fire
employees.
(3) The monthly service -connected disability
benefit shall commence on the date of disability and continue
until the. Participant reaches normal retirement age or, should -
the Participant die before reaching normal retirement age, for
at least ten 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 vestinu credits for each year of service --connected
disability benefits and average annual compensation based upon
the base wage rates paid by the City during the period of the
participant's disability for the participant's last position and
26
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above, whichever is greater, continuing as provided by the
retirement benefit option selected by the Participant.
(b) Non -Service Connected - 2. But Less Than 10 Vestina
Credits - The monthly non -service connected disability benefit
for Participants with at least two but less than ter; vesting
credits shall be
(1) a monthly disabilitv benefit Pnua 1 rn rr,a
monthly base wage rate paid by the City 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 Long Term Disability Insurance Benefit Plan and
Social Security, provided that the benefit paid by the Plan shall
not exceed 20% of the Participant's average.monthly salary at the
time of disability.
(2) The monthly non -service -connected disability
benefit shall. commer -�e on the date of disability and continue
until the Participant dies or reaches normal, retirement age.
(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) Non -Service Connected 10 oz More Vesting Credits -• The
monthly non -service connected disability benefit for Participants
with at least ten vesting credits shall be
(1) The greater of the Part.icipant'.s accrued
retirement benefit, or
(2) a monthly disability benefit equal to the
monthly base wage rate paid by the City 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 Long Term Disability Insurance Benefit Plain and
Social Security prov.,.ded that the benefit paid by the Plan shall
not exceed 20% of the Participant's average monthly salary at the
time of disability for general employees and 35% of the
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Participant's average monthly salary at the time of disability
for police and fire employees.
(3) The monthly non- service• -connected disability
benefit shall commence on the date of disability and continue
until the Participant reaches normal retirement age or, should
the Participant die b-fore reaching normal retirement age, for at
least ten years, with the balance payable to the Participant's
beneficiary.
(4) Upon reaching normal retirement aqe, 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 greater, continuing
as provided by the retirement benefit option selected by the
Participant.
(d) A Participa it's monthly disability benefit under this
plan shall be increased in the event that the monthly base wage
rate paid by the City 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.
Section 7-3 Determination of Disability
(a) Initial Determination - The Hoard may consider
reports of physicians, and Social Security, Worker's 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
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Board in determining disability. The Board shall determine
eliglibility for disability benefits within 60 days after all
required documentation and reports have been submitted to the
Board.
(b) Continuing Review - The Board shall 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., vocational or rehabilitation professionals, or
submit copies of their annual federal income tax returns to
substantiate continued disability.
Section 7-4 Recovery from Disability .
(a) Recovery and Re -Employment by City -- If a service -
connected disability benefit recipient recovers, the Board shall
request the City to reinstate the Participant to his former
position although the City is not required to do so, and, should
the Participant resume or decline an offer of such employment
with th-e City, the Participant's disability benefit will be
discontinued.
(b) Recovery from Non -Service Connected Disability and
Re -Employment -- If a non -service connected disability recipient
-recovers and obtains comparable gainful full-time employment
(other than employment in a sheltered workshop, Goodwill
Industries, or other employment program for the handicapped), or
is offered comparable gainful full-time employment by the City,
the Participant's disability benefit shall be discontinued.
(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 time
during which the Part;-4ripant received a disability benefit. A
recipient of a non-st..vice connected disability benefit who has
recovered shall not suffer a break in service for the period of
his disability however, in order to receive vesting credit for
the period of disability, the Participant must be reinstated by
34
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the City of Tamarac and pay into the fund the amount of employee
contributions which he would have made during his disability had
he not been disabled, plus interest as determined by tt-e Board.
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SECTION 8 PAYMENT OF BENEFITS
Section 8--1 Payment of Benefits
(a) Frequency -of-Pavments - Pension benefits shall b,
paid monthly.
(b) First Payment - 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 5--1 (Might to
Pension Benefits).
(2) April 1 of the calendar year following the year
in which the Participant attains the age of 70 1/2, if he retired
at an earlier age.
(c) Last Payment -
( 1) Pension Benefits -- The last payment shall be the
month coincident with the death of the Participant (or survivor,
if applicable) or 1-ter, depending on the form of benefit
selected.
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29;
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SECTION 9 BRWEFIT LEVRL
Section 9-1 Calculation of Benefit Amount
(a) A Participant's monthly benefit level is the product
of the Vesting Credits earned multiplied by t;ie monthly benefit
level. provided in Section 9-2(a).
(b) The actue' benefit amount is determined by making the
adjustment, if any, for early retirement or late retirement and
for the form of benefit which the Participant selects.
Section 9-2• Benefit Level
(a) For general employees: Two percent of average final
compensation
(b) For fire fighters: Three percent of average final.
compensation
(c) For police officers: Two percent of average final
compensation
(d) For employe s who served in more than one of the abovs-
classifications:
(i) voluntarily, the amount of pension benefit
shall be calculated by multiplying the resting
credits earned in each classification by the
benefit level for that classification
(ii) involuntarily due to transfer to another
classification due to physical or mental
disability, or }:he elimination, transfer or merger
of the City's police or fire departments or the
contracting out of the work performed by any
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 pre -transfer classification.
Section 9-3 Maximum Benefit Amount
(a) A Participant may not receive a pension benefit which
exceeds the lesser oi:
(1) one hundred (100%) percent of the Participant's
average compensation for the highest three
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consecutive years as participant in the Pension
Plan, offset by 100% of the Participants primary
social security benefits if date of participation
is on or after January 1, 1980 or
(2) the maximum amount allowed under Section 415 of
the In .ernal Revenue Code, which i.G incorporated
herein by reference, or
(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
$10,000 and
(2) the Participant does not participate in a defined
contribution plan maintained by the Employer and
(3) the Participant has earned 10 Vesting Credits.
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SECTION 1.0... EMPLOYNENT AFTER RETIREKKNT
Section 10-1 Suspension of Benefits
(a) The payment of pension benefits shall be suspended
for each month a Parti,Li.pant works as an employee, consultant or
,independent contractor of the City of Tamarac.
(b) The Board of Trustees may uniformly wAi vP tho
provisions of this Section for such periods of time as it deems
appropriate.
Section 10--2 Notice of Re -Employment and Re -Retirement
• (a) Retired Participants must notify the Board of
Trustees upon returning to any type of work for the City of
Tamarac within 30 days after starting work. Notice of re-
employment shall be given on a form provided by the Board of
Trustee-s.
(b) A Participant must notify the Board of Trustees upon
re -retirement if the Larticipant returns to work for the City of
Tamarac 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.
Section 10-3 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 60 days of the request, unless special
circumstances (such as a hearing) require additional time, not to
exceed 120 days from receipt of the request.
Section 10-4 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.
(b) The Boar( of Trustees may deduct 15% of each month's
benefit payment for benefits previously made which should have
been suspended. The first three months are subject to offset
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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.
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SECTION 11 PRE -RETIREMENT SURVIVOR BENEFITS
Section 11-1 Pre -Retirement Death Benefits for
Vested Participants
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 behalf.
The survivor benefit shall be payable to the Participant's spouse
unless, with the spouse's consent as specified in Section 11-3, a
different beneficiary is designated by the Participant. In the
event that the deceased Participant is not married at the time of
his/her death, the survivor benefit shall be paid to his
designated beneficiary.
The amount of the survivor benefit shall be equal to 50% of
the.Actuarialy Equivalent single sum value of the Participant's
vested Accrued Benefit- as of his date of death. If this single
sum amount is less than $3, 500, 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 $3, 500, the benefit shall be paid in
the form of an immediate monthly survivor annuity unless the
Beneficiary and 'the Board agree to an alternative Actuarialy
Equivalent form of benefit.
Section 11-2 No Death Benefit Followinq Commen_cemept of
Benefits -Except Per 02tions
No death benefit shall be payable on behalf of any
.
Participant who dies following commencement of retirement
benefits 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.
Section 11-73 Spousal Consent
With respect to (leath benefits provided in this Section, at
any time prior to the date of death, a Participant may file with
the Board of Trustees his designation of a Beneficiary other than
his spouse. Any such filing with the Board must be evidenced by
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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
consent is not required if the Participant establishes to the
satisfaction of an Employer representative that such consent
cannot be obtained because there is no spouse or the spouse
cannot be located. Neither the Plan, the board, nor a third
party payor shall be liabl= by reason of payments made pursuant
to a consent obtained by the Board acting in accordance with the
provisions herein.
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SUB -PART IV LUMP SUM DISTRIBUTIONS
SECTION 12 _LUMP SUM PAYMENTS
Section 12-1 Involuntary Lump Sum Distributions
I£ the present value of a benefit is $3,500.00 or less and
the payment of such benefit has not begun, the Board of Trustees
may, in its sole disc-etion, pay the actuarial equivalent of such
benefit in a lump sun, or in monthly installments, without the
consent of the Participant Dr the Participant's spouse.
Section 12--2 Interest Assumption
• For purposes of computing the present value of a benefit
payable under this Section the interest assumption to be used
shall be the actuarily assumed interest rate adopted by the Board
of Trustees.
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SUB -PART V ADMINISTRATION AND OPERATION OF THE PENSION PLAN
SECTION 13 ADMINISTRATION
Section 13-1 Board of Trustees
The Board of Trustees shall administer and control the
operation of this Pension Plan in accordance with the provisions
of this Pension P1�in; the Declaration of Trust and this
Ordinance. The Board of Trustees, or any other person to whom
the Board of Trustees may,illocate or delegate such authority,
shall, from time.to time, establish rules for the interpretation,
a*pplication 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.
Section 13W-2 Claim for Benefits
(a) Advance Claim Required - In order to receive a benefit
under this Pension P1F-i, a claim for benefits must be submitted,
in writing, 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 year of the death of the Participant_.
(b) Information_ Required - All Participants and
beneficiaries shall furnish such information as the Board of
Trustees considers necessary or desirable for the purposes of
administering the Pension 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 f iled 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 age, ihill be made in such a manner as the Board
of Trustees deem equitable. Benefits provided under this Pension
Plan are conditioned upon the furnishing of such true and
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complete information as may be needed. The Board of Trustees and
any other persons involved in the administration of the Pension
Plan shall be entitled to rely upon ary certification, statement
or representation made by a Participant or beneficiary with
respect to age, marital status, death of the Participant, or
other facts require t i be determined under any of the provisions
of the Pension Plan, and the Board of Trustees shall not be
liable on account of the payment of any monies or the commission
of any act or failure to act, in reliance thereon.
Section 13-3 Multi.Ie__Claims Prohibited
Once a claim for pension benefits has been approved by the
Board of Trustees, no further claims for a pension benefit shall
be permitted.
Section 13--4 Notification of MailirLcL_Address
(a) All Participants and beneficiaries shall file with
the Board of Trustee ., 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 payment 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 purpose: of
this Pension Plan.
(c) 1f 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.
Section 13-•5 Benefits Payable to Minors and lncom ems
(a) whenever any person entitled to payments under this
Pension Plan shall be a minor, under a legal disability, or, in
the sole judgment of the Board of Trustees, be otherwise unable
to care for their affairs in their own best interest and
advantage (whether because of illness, accident, incapacity or
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other mental or physical condition), the Board of Trustees may
direct that all or any portion of such payments be made in any of
the following ways (unless a claim has been made by a legal
guardian, tutor, conservator, committee or other duly appointed
legal representative, in which event payment ,hall be made to
such representative).
(1) to the spouse, child, parent., or other blood
relative, to be expended on behalf of the person
(or on behalf of those dependents as to whom the
person has the duty to support) or
(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 deem
appropriate 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 decis an of the Hoard of. Trustees shall be f inal
and binding upon all persons. After such decision, the Hoard of
Trustees shall not be obliged to see to the proper application or
expenditures of any payments so made.
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SECTION 14 - -CI.AIM: ,. NOVICES AND „INQUIRIES
Section 14-1 Claims Notices and Inquiries
All claims for benefits, elections for a specific form of
benefit, notices of re-employment, notices of re -retirement,
verifications of retirement, notices of mailing address, notices
of appeal, and all c.her inquiries and matters concerning the
Pension Plan shall be submitted to the Board of Trustees
addressed as follows:
Secretary
City of Tamarac
Employees' Pension Plan
5811 N.W. 88th Avenue
Tamarac, Florida 33321
Section 14-2 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.
Section 14-3 De,.al 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 30 days after the final decision has been made. 'rhe
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 and
I
(2) the specific references to the pertinent
provisions of the Pension Plan upon which the
action is based and a copy of the Pension Plan
provisions shall be furnished with this Notice
and
(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.
Section 14-4 Claims 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
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must be submitted within 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 on shall be signed by the claimant. The
claimant shall be a lowed 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 may designate an
attorney, or any other duly authorized per -,on, t^ 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 th, claimant and the representative, and shall
be submitted in writing.
(c) Claims Rev?ew Board -- The Board of Trustees shall
rule on all appeals brought under. t;7is 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
• a
writing, and shall be made no later than 60 days after receipt of
the Notice of Appeal, unless special circumstances (such as the
need for a hearing) require an extension of time. In no event,
however, should the decision of the Board of Trustees be made
later than 120 days 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 provided with
a copy of this decision. The decision of the Board of Trustees
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shall be final and binding.
Section 14-5 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 15-
4 (Claims Review Pro;2dure), unless the Board of Trustees fail to
render a decision within 120 days after receipt of the Notice of
Appeal. In no case, however, shall any action be brought unless
instituted within one year from the time the claimant received
t*he Notice of denial, suspension or termination provided in
Section 15--3 (Denial of Benefits).
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SECTION 15 FUNDING
Section 15-1 Fundin
The Plan shall be funded by contributions from Participants,
contributions from the City of Tamarac and the amount derived
from the premium taxes provided in Florida Statutes Section
175.101 and 185.08 an other income sources as authorized by law.
Section 15-2 Participant Contributions
All Participants sha-1 make regular contributions at the
rate of five percent of earnings which shall be deposited in the
fund at least monthly. The City of Tamarac shall assume and pay
Participant contributions in lieu of payroll deductions from
Participants' earnings. No Participants shall have the option of
choosing to receive the contributed amounts directly instead of
having them paid by the City directly to the Plan. Al? such
contributions by the City shall be deemed and considered as a
part of the Particip -it's Accumulated Contributions and subject
to all provisions of this Plan pertaining to Accumulated
Contributions of Members. This City "pick up" of contributions is
the result of a 5% reduction of each Participant's base pay and
of base pay levels which occurred on October 1, 1986 and is
intended to comply with Section 414(h)(2) of the Internal Revenue
Code.
If a Participant has not made contributions for any period
of covered service because the previous plan did not hermit
contributions or benefit credits for service after normal
retirement age, the Participant must pay re.t,roactive
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.
Section 15-3 Stace Contributions
The Fund shall receive the premium taxes collected and
disbursed by the Florida Insurance Commissioner and Treasurer
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pursuant to Sections 175.101, 175.121, 185.08 and 185.10, which
mor4pq Shall be deposited into the Fund within five days of
receipt.
Section 15-4 City Contributions
The City of Tamarac shall contribute to the plan on at least
a quarterly basi- an amount which, together with the
contributions derived from Participants and the amount derived
from premium taxes and other income sources as authorized by law,
will be sufficient to meet the normal cost of the Plan and to
fund the actuarial deficiency over a period of not more than 30
years.
Section 15-5 Basis of Payments from the Pension Plan
All benefits and expenses shall be paid in accordance with
the provisions of this Pension Plan and the Trust Agreement and
consistent with Florida Statutes and the Internal Revenue Code.
.
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SECTION 16
EFFECT OF DOMESTIC RELATIONS ORDERS
ON PAYMENT OF BENEFITS
Section 16-1 Assignment of Benefits Upon Divorce
The prohibition against assignment, alienation and
transfer of benefi-s provided in Section 18-3 (Benefits Not
Assignable) shall also apply to a domestic relations order,
unless such order is det.irmined to be a "qualified" domestic
relations order xs defined in the Internal Revenue Code.
Section 16--2 Filing of Claims
All claims for benefits under a domestic relations order
shall be filed, in writing, with the Board of Trustees along with
a copy of the domestic relations order.
Section 16-3 Alternate Pavee
The term "alternate payee" means any spouse, former
spouse, child or o her dependent of a Participant who is
recognized by a domestic relations order as having a right to
all, or a portion of, a benefit payable under this Pension Plan
with respect to the Participant.
Section 16--4 Notice of Receipt of Claim
(a) Within ?O days of receipt of a domestic relations
order, the Board of Trustees will notify the Participant, the
alternate payee(s) and their respective legal counsel of receipt
of the domestic relations order.
(b) At the same time, the Board of Trustees shall notify
the Participant, the alternate payee(s) and their respective
legal counsel of the procedures for determining whether the order
is a "qualified" domestic relations order by providing a written
copy of this Article.
(c) Notice to the alternate payee(s) shall be given at
their address as shown in the domestic relations order.
Section 16-5 Designation of Representative
TheThe Participa:t and the alternate payee(s) may designate
an attorney or other representative to receive notices and
communications from the Trust Fund instead of the Participant or
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the alternate payee. This designation must_ be in writing and
must be signed by the Participant or by the alternate payee.
Section 16-6 payment of Benefits Pending Trustees' Decision
Pending a decision by the Board of Trustees whether the
domestic relations order is "qualified", any amount which would
be payable to the a' ternate payee(s) if the domestic relations
order was "qualified" shall be segregated in a separate,
interest -bearing, escrow account.
Section 16--7 Qualified Domestic Relations Orders
• (a) Review By Legal Counsel - All domestic relations
orders shall be immediately submitted to legal counsel for the
Trust Fund. A legal opinion whether the order is a qualified
domestic relations order within the meaning of and the Internal
Revenue Code should be provided to the Board of Trustees within
60 days, if possible.
(b) TrusteeL Decision -- The Board of Trustees shall
decide whether an order is a "qualified" domestic relations order
no later than 120 days after receipt of the order, unless
circumstances require more time. Notice of the Trustees'
decision shall be promptly provided. If the Trustees' decide
that a domestic relations order is not "qualified", the Notice of
denial of the claim shall be provided in the manner provided in
Section 15-3 (Denial of Benefits).
(c) Appeal of Trustees' Decision -- A parry map file an
appeal of the Trustees' decision by filing a Notice of Appeal
within 60' days after receipt of the Trustees' decision. The
appeal shall be governed by the procedures provided in Sections
15-4 and 15-5 (Claims Review Procedure and Exhaustion of Claims
Review Procedure).
(d)
Notices -
The Board
of Trustees
shall notify both the
Participant
and the
alternate
payee(s),
or their designated
representative, of al.l Trustees' decisions under this Section.
Section 16-8 Payment of Benefits After Trustees' Decision
(a)
All
benefits
placed in
an escrow
account pending the
decision of
the
Board of
Trustees
shall be
paid, with accrued
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interest, to the person entitled to the benefits, as decided by
the Board of Trustees.
(b) The Board of Trustees may. in its RnlP disc-rptinn.
continue to segregate benefits in a separate escrow account
pending an appeal or the Trustees' decision under Section 15-4
(Claims Review Procedure).
Section 16-9 18 Month Limitation
(a) If the issue whether an order is a "qualified"
domestic relations order cannot be finally resolved within 18
Months from receipt of the claim, then any benefits placed in
escrow shall be paid, with accrued interest, to the person who
would have been entitled to such amounts as if the order was not
"qualified".
(b) Any decision that an order is a "qualified" domestic
relations order which is made more than 18 months after receipt
of the claim shall b4- applied prospectively only.
Section_16-1p_ Interpleader
The Board of Trustees may file an interpleader action to
assist in its determination whether an order is a "qualified"'
domestic relations order. The professional fees and costs of an
interpleader action may be deducted from the sums deposited with
the Court.
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SECTION 17 KISCELLANHOOS
Section 17-1 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, and subject to
state law, the Intt,nal Revenue Code and all other applicable
laws.
Section 17-2 Standards of Proof
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, :.he decisions of the aboard
of Trustees shall be final and binding on the Participants and
beneficiaries, the City and all other persons.
Section 17--3 Benefits Not Assignable
(a) The right, of any person to any payment under this
Pension Plan shall nit be subject to assignment, alienation c,r
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.
In the event any person attempts to assign, transfer or dispose
of such right, or if an attempt is made to subject said right to
such process, such assignment, transfer or disposition shall be
-null and void.
(b) This Section does not apply to "qualified" domestic
relationq orders as provided in Article 17 (Effect of Domestic
Relations Orders on Payment of Benefits).
Section 17-4 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, 1+it shall be ant4cipated in determining the
costs under the Pension Plan.
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Section 17-5 Merq er
This Pension Plan shall not merge or consolidate with any
other pension plan, nor transfer any assets or liabilities to any
other pension 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 equal to the benefit the Participant was
entitled to immediately before such merger, consolidation or
transfer (if the -Pension Plan had terminated).
Section 17-6 Termination of Pension Plan
In the event of termination of the Pension Plan, the Board
of Trustees shall follow the procedures contained in Florida
Statutes, the Internal Revenue Code, and. all other applicable
laws.
Section 17-7 Incorporation_byReference
This Pension ',lan is maintained for the exclusive purpose
of providing benefits to Participants and beneficiaries, and is
intended to satisfy all the requirements of Florida Statutes and
the Internal Revenue Code. In the event any requirements of such
laws have been omitted, they shall be deemed to be incorporated
herein by reference.
Section 17-8 Amendment of Pension Plan
This Pension Plan may be amended at any time by majority
vote of the Board of Trustees and the Tamarac City Council
prospectively or retroactively, provided that such amendment,
• complies with the Internal Revenue Code, Florida Statues, all
other applicable laws, and the purposes as set forth in the
Ordinance and Declaration of Trust. Additionally, and 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 Internal Revenue Code,
Florida Statutes, and all other applicable laws. However, no
amendment which recices the accrued benefits of any Participant
shall take effect.
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Section 3= Specific authority is hereby granted to codify
this Ordinance.
Section 4: If any provision of this Ordinance or the
application thereof to any person or circumstance 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 5: This Ordinance shall become effective
immediately upon adol:ion and passage.
PASSED FIRST READING this � � ,?y ofA 1987.
PASSED SECOND READING this e?y of t 1987.
Y�; r EIN '---- -____- -
Ck MAYOR
ATTEST:
CAROL E. BARBUTO
CITY 'CLERK
I HEREBY CERTIFY that I h e
t7pproved this ORDINANCE
to form.
RICHARD DOODY�-
CITY ATTORNEY ` ko YUR: HART E --
DIST. I C/M ROHR
DIST. 2: C/M STELZER e-
DIST. 3: C/M HOFFMAN
DIST. 4: V/M STEIN U
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