HomeMy WebLinkAboutCity of Tamarac Ordinance O-2019-014 Temp Ord. #2410
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CITY OF TAMARAC, FLORIDA
ORDINANCE NO. 0-2019-
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA; AMENDING CHAPTER 16, PENSIONS AND
RETIREMENT, ARTICLE VI, PENSION PLAN; PROVIDING FOR A
BACDROP AS AN OPTIONAL FORM OF BENEFIT PAYMENT;
PROVIDING FOR A SAVINGS CLAUSE; PROVIDING FOR
SEVERABILITY; PROVIDING FOR CODIFICATION AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Tamarac and Metro-Broward Professional Firefighters,
Local 3080, International Association of Firefighters, have agreed through collective
bargaining to provide a BACDROP as an optional form of benefit payment; and
111 WHEREAS, the City Commission has received, reviewed, and considered an
actuarial impact statement describing the actuarial impact of the amendment provided
herein; and
WHEREAS, the City Commission of the City of Tamarac has deemed it to be in
the best interest of the citizens of the City of Tamarac to amend the plan to reflect these
changes.
NOW THEREFORE, BE IT ORDAINED by the City Commission of the City of
Tamarac, Florida:
CODING: Words in struck through type are deletions from existing law;
Words in underscored type are additions.
Temp. Ord. #2410
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Section 1: That the foregoing recitals are hereby ratified and confirmed as being
true and correct and are hereby made a specific part of this Ordinance upon adoption
hereof.
Section 2: That Section 16-493 of Chapter 16, Article VI, Division 4, of the City
of Tamarac Code of Ordinances is hereby amended by adding a subsection (4), as
follows:
(4) BACDROP. Effective January 1, 2019 eligible participants may elect a
BACDROP benefit in accordance with this subsection (4).
a. Eligibility of participant to participate in the BACDROP. Subiect to the
limitations set forth in Paragraphs a, b, c, and d below, a participant who,
in accordance with Subsection (3)(a) of this Section 16-493, is eligible to
participate in, but has not yet elected to participate in the DROP, may elect
in writing on a form approved by the Board, a retroactive retirement date
to be referred to as the "BACDROP date". The date from which the
retirement is retroactive is referred to as the "election effective date." With
regard to elections filed on or after January 1, 2020, the election must be
filed at least one hundred eighty (180) days prior to the election effective
date. The election to participate in the BACDROP must be made
simultaneously with DROP election.
b. BACDROP date. A participant's BACDROP date shall be a date selected
by the participant that is no earlier than (1) the participant's initial date of
eligibility to enter the DROP in accordance with Subsection (3)(a) of this
Section 16-493; and (2) the date that is thirty-six (36) months prior to the
participant's election effective date, whichever is later.
c. Maximum BACDROP period. An eligible participant may elect the
BACDROP for a maximum period of thirty-six (36) months, provided that
any combined BACDROP retroactive period and DROP participation
period may not exceed sixty (60) months. Election of the BACDROP shall
not extend any maximum DROP period provided in Subsection (3) of this
Section 16-493.
CODING: Words in dough type are deletions from existing law;
Words in underscored type are additions.
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d. Benefits payable under the BACDROP. A participant who elects the
BACDROP shall be entitled to a monthly pension determined as of the
participant's BACDROP date, plus a lump sum payable within 60 days of
the participant's election effective date and calculated as of the
participant's election effective date (or if earlier, the participant's DROP
date) equal to the pension benefits the participant would have received
had he/she retired on the BACDROP date, with interest at the rate in
accordance with Section 16-493 (3)(q)(1) per annum. If the participant
enters DROP as of the election effective date, the lump sum BACDROP
payment shall be credited to the participant's DROP account. Otherwise,
upon termination of the participant's city employment the participant may
choose to have all or any part of the lump sum BACDROP payment rolled-
over into an eligible retirement plan, or distributed directly to the
participant, less applicable withholding taxes.
Section 3: That Subparagraph 16-503(c)(2)c. of Chapter 16, Article VI, Division
4, of the City of Tamarac Code of Ordinances is hereby amended by adding the following
underlined language:
Section 16-503. — Calculation of benefit amount.
(c) Cost of living adjustment benefit
(2)
c. For participants who retire on or after June 1, 2013, only the cost-
of-living adjustment described in this subsection shall apply. As
of each January 1, the retirement benefits only as provided under
sections 16-497 and 16-504 of participants who retired at least
five (5) years prior to such January 1 with normal service
retirement, early service retirement, or disability retirement shall
be increased by two and one-quarter(2.25) percent compounded
annually. With regard to Participants who elect the BACDROP,
the five (5) year period shall be determined as of the participant's
Election Effective Date (not the BACDROP date).
CODING: Words in struck through type are deletions from existing law;
Words in underscored type are additions.
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Section 4: It is the intention of the City Commission and it is hereby ordained
that the provisions of this Ordinance shall become and be made part of the Code of
Ordinances of the City of Tamarac, Florida, and that the Sections of this Ordinance may
be renumbered or re-lettered, and the word "Ordinance" may be changed to "Section,"
"Article" or such other word or phrase in order to accomplish such intention.
Section 5: All Ordinances or parts of Ordinances in conflict herewith are hereby
repealed to the extent of such conflict.
Section 6: If any provision of this Ordinance or the application thereof to any
person or circumstances is held invalid, such invalidity shall not affect other provisions or
applications of this Ordinance that can be given affect without the invalid provision or
application, and to this end the provisions of this Ordinance are declared to be severable.
Section 7: This Ordinance shall become effective on adoption, satisfaction of
each of the following three requirements set forth below having been achieved prior to
second reading:
(a) The City Commission received and has accepted a report establishing the
actuarial soundness of these amendments in a letter of opinion from the Plan
Actuary that the amendment has no actuarial impact; and
(b) The Ordinance and impact statement have been sent to the State of Florida
Division of Retirement; and
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Words in underscored type are additions.
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(c) The International Association of Firefighters has accepted the changes
proposed in this ordinance in writing.
PASSED, FIRST READING this �l ,t day of �c'r-� , 2019.
PASSED, SECOND READING this .x - day of , 2019.
/ 7-- 0\
MIC ELLE J. GOM
MAYOR
ATTEST:
deasia, /
PAT ICIA TEU DEL, MC
CITY CLERK / RECORD OF COMMISSION VOTE: 1st Reading
MAYOR GOMEZ
DIST 1: COMM. BOLTON
DIST 2: COMM. GELIN
DIST 3: COMM. FISHMAN
DIST 4 V/M PLACKO
I HEREBY CERTIFY that
I have approved this
ORDINANCE as to form RECORD OF COMMISSION VOTE: 2nd Reading
MAYOR GOMEZ
DIST 1: COMM. BOLTON
DIST 2: COMM. GELIN G �
DIST 3: COMM. FISHMAN
DIST 4 V/M PLACKO
SAMUE S. GOREN
CITY ATTORNEY
CODING: Words in s#ruckF-through type are deletions from existing law;
Words in underscored type are additions.