HomeMy WebLinkAboutCity of Tamarac Ordinance O-1990-032Temp. Ord. #1501
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CITY OF TAMARAC, FLORIDA
ORDINANCE NO. 0-90-
AN ORDINANCE AMENDING ARTICLE III OF CHAPTER
16 OF THE CODE OF ORDINANCES OF THE CITY OF
TAMARAC PERTAINING TO THE CITY'S PENSION
PLAN TO PERMIT VESTED PARTICIPANTS WHO
TERMINATE FROM EMPLOYMENT PRIOR TO EARLY
RETIREMENT AGE TO ELECT TO RECEIVE A REFUND
OF PARTICIPANT CONTRIBUTIONS IN LIEU OF ANY
OTHER BENEFITS FROM THE PLAN, PROVIDING FOR
A REPEALER, PROVIDING FOR SEVERABILITY AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the pension plan establishing the City of
Tamarac Employees Pension Trust Fund now provides that vested
fire fighter and police participants and certain general employee
participants who retire prior to their early retirement age must
wait until their early retirement age to receive any benefits
from the Fund and are not eligible to receive a refund of their
participant contributions, and
WHEREAS, the Pension Board and the City Council wish to
provide such an option to these participants, and
WHEREAS, the City Council of the City of Tamarac deter-
mines that it is in the public interest to adopt the following
Ordinance, and
WHEREAS, the following amendment has been approved by
the Board of trustees of the City of Tamarac Pension Trust Fund;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: That Article III, "Employees' Pension
Plan", Section 16-198 of Chapter 16 of the Code of Ordinances of
the City of Tamarac is hereby amended to add the following:
A participant. -who is vested and suffers a
break in service_may_ele_ct to receive a
refund of the participant's accumulated
contri_ ut_i_ons in _lieu of any other benefits
from this Plan. If a participant ^accepts
such a refund of accumulated contributions,
no other benefits shall be due or - a�able
from the Plan to t e participants.
SECTION 2: That all Ordinances or parts of Ordinances
in conflict herewith, be and the same are hereby repealed to the
extent of such conflict.
SECTION 3: Of 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 effect without the invalid provisions
or application, and to this and the provisions of this Ordinance are
declared to be severable.
SECTION 4: This Ordinance shall become effective upon
final passage.
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PASSED, ADOPTED AND APPROVED on first reading this Z! day of
1990.
PASSED, ADOPTED AND APPROVED on second reading this
1990.
ATTEST:
i, el'12�
CA A. EVANS
CITY CLERK
I HEREBY CERTIFY that I have
approved this ORDINANCE as
to form.
ALAN
CITY ATTORNEY
RECORD OF COUNCIL VOTE
lMIAYDRr,, ABRAMOWITZ . ,64t-
DISTRICT 1: C/M ROHR
DISTRICT 2: C/M SCHUMANN
DISTRICT 3: V/M HOFFMAN
DISTRICT* C_ BENDER
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