HomeMy WebLinkAboutCity of Tamarac Ordinance O-2020-015• TO#2436
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CITY OF TAMARAC, FLORIDA
ORDINANCE NO. 0-2020- ( °I__'_)
AN ORDINANCE OF THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA, AMENDING CHAPTER 16,
PENSIONS AND RETIREMENT, ARTICLE VIII, PENSION
PLAN (POLICE OFFICERS), DIVISION 1, SECTION 16-653,
COMPLIANCE WITH THE INTERNAL REVENUE CODE, TO
PROVIDE FOR COMPLIANCE WITH THE SECURE ACT;
PROVIDING FOR CODIFICATION; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Setting Every Community Up for Retirement Enhancement
• ("SECURE") Act, signed into law on December 20, 2019, amended the definition of
"Required Beginning Date" under Section 401(a)(9) of the Internal Revenue Code; and
WHEREAS, amendments to the Plan are necessary to conform the Pension Plan
to the requirements of the SECURE Act; and
WHEREAS, the Board of Trustees of the City of Tamarac Police Officers' Pension
Plan has recommended an amendment to the Pension Plan to comply with the SECURE
Act; and
WHEREAS, the trustees of the City of Tamarac Police Officers' Pension Plan have
requested and approved the amendments provided herein as being in the best interests
of the participants and beneficiaries and improving the administration of the Plan, and
WHEREAS, the City Commission has received and reviewed an actuarial impact
• statement related to this change and attached as such; and
WHEREAS, the City Commission deems it to be in the public interest to provide
this change to the Pension Plan for its police officers;
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NOW THEREFORE, BE IT ORDAINED by the City Commission of the City of
Tamarac, Florida:
Section 1. The foregoing WHEREAS clauses are hereby ratified and confirmed
as being true and correct and are hereby made a specific part of this Ordinance upon
adoption hereof.
Section 2. Chapter 16, Pensions and Retirement, Article Vill, Pension Plan
(Police Officers), Division 1, Section 16-653, of the Tamarac Code is hereby amended as
follows:
Sec. 16-653. — Compliance with the Internal Revenue Code.
(2) Required beginning date. Notwithstanding any other provision of the plan,
payment of a participant's retirement benefits under the plan shall commence not
later than the participant's required beginning date, which is defined as the late
of:
a. With regard to distributions required to be made to a
participant who reaches age 70 Y2 before January 1, 2020: April 1 of
the calendar year that next follows the calendar year in which the
participant attains or will attain the age of 70'/2 years; or T April 1 of
the calendar year that next follows the calendar year in which the
participant retires, whichever is later.
b. With regard to distributions required to be made on or after
January 1, 2020 to a participant who reaches the age of 70 %2 on or
after said date: April 1 of the calendar year that next follows the
calendar year in which the participant attains or will attain the age of
72 years, or April 1 of the calendar year that next follows the calendar
year in which the participant retires, whichever is later.
•
Section 3. 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
0
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Ordinances of the City of Tamarac, Florida, and the word "Ordinance" may changed to
"Section", "Article" or such other word or phrase in order to accomplish such intention.
Section 4. All Ordinances or parts of Ordinances, and all Resolutions or parts
of Resolutions in conflict herewith are hereby repealed to the extent of such conflict.
Section 5. 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 6. This Ordinance shall become effective upon passage; however, the
provisions of this Ordinance that are specified to take effect as of a date certain shall take
effect as of the date specified herein
PASSED, FIRST READING, this oSo day of.
0 c �Tc_) E; 2020.
PASSED, SECOND READING, this 0 day of NC UC 4L) �k 2020.
ATTEST
JENNI R JOH'NSON /MC���
CITY CLERK
r � i
Michelle J. Gomez, Mayo
RECORD OF COMMISSION VOTE: 13T Reading
MAYOR GOMEZ
DIST 1. V/M BOLTON
'
DIST 2: COMM GELIN
DIST 3: COMM FISHMAN
ice-
DIST 4: COMM. PLACK
RECORD OF COMMISSION VOTE- 2ND Reading
MAYOR GOMEZ �6s
DIST 1. V/M BOLTON TTC3 e" r
DIST 2: COMM. GELIN u�u�s
DIST 3: COMM. FISHMAN `Je�s
DIST 4 COMM- PLACK
I HEREBY CERTIFY that I have approved this
ORDINANCE as to form.
EL S WREN
CITY ATTORNEY
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