AGENDA MEMORANDUM
Meeting Date: June 9, 2008
From: Jay M. Evans, City Manager
Subject: Ordinance Amending the City of Leesburg Police Officers’ Retirement Fund
Staff Recommendation:
Staff recommends approval of the ordinance amending the Police Officers’ Retirement Fund; amending Section 2: Membership, Section 20: Domestic Relations Orders and Retiree Directed Payments.
Analysis:
The following changes to the existing Police Officers’ Retirement Fund are submitted for approval:
- Section 2, Membership, has been amended to provide for an Opt-In Window for police officers who had previously opted to not become members of the system. It allows them to purchase years of credited service with no cost to the plan, with a benefit rate of 2.0% and will consider those officers as new employees for purposes of applying the presumptions for in-line-of-duty disability benefits.
- Section 20, Exemption from Execution, Non-assignability, has been amended to add the requirement that members who are involved in a divorce will provide a copy of the proposed court order to the Board for review prior to submitting it to the Court. This review will avoid the entry of an order requiring the plan to make payments to an ex-spouse which are not legally permissible and avoid possible expenses to the Board in seeking the repeal of any such orders. This amendment also allows a retiree to direct retirement benefit deductions for payments to the City or to insurance companies for benefits such as health insurance.
Options:
1. Approve Ordinance amending the Police Officers’ Retirement Fund; or
2. Such alternative action as the Commission may deem appropriate
Fiscal Impact:
None.
Submission Date and Time: 6/20/2008 4:48 PM____
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Department: ______________________ Prepared by: ______________________ Attachments: Yes____ No ______ Advertised: ____Not Required ______ Dates: __________________________ Attorney Review : Yes___ No ____
_________________________________ Revised 6/10/04 |
Reviewed by: Dept. Head ________
Finance Dept. _______JB__ _____
Deputy C.M. ________EFS________ Submitted by: City Manager ___________________ |
Account No. _________________
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WF No. ______________________
Budget ______________________
Available _____________________ |
ORDINANCE NO. .
AN ORDINANCE OF THE CITY OF LEESBURG, AMENDING CHAPTER 17, PENSIONS AND RETIREMENT, ARTICLE IV, POLICE OFFICERS’ RETIREMENT FUND, OF THE CODE OF ORDINANCES OF THE CITY OF LEESBURG; AMENDING SECTION 2, MEMBERSHIP; AMENDING SECTION 20, EXEMPTION FROM EXECUTION, NON-ASSIGNABILITY; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA;
SECTION 1: That Chapter 17, Pensions and Retirement, Article IV, Police Officers’ Retirement Fund, of the Code of Ordinances of the City of Leesburg, is hereby amended by amending Section 2, Membership, to read as follows:
SECTION 2: MEMBERSHIP.
1. Conditions of Eligibility.
All Police Officers as of the Effective Date, excepting those previously declining participation in this System, and all future Police Officers, shall become Members of this System as a condition of employment.
2. Opt-In Window.
Any currently employed Police Officer as of the effective date who has previously opted not to become a Member of the System, may, within one (1) year of the effective date of the ordinance adopting this subsection, elect to enter the System and such Police Officer opting-in may purchase prior years of Credited Service as a Police Officer pursuant to Section 26, but the benefit accrual rate for any years purchased shall be two percent (2%). For purposes of applying the presumptions for in-line-of-duty disability benefits, such Member shall be considered a new Police Officer.