HomeMy WebLinkAboutO-1969-546 i
ORDINANCE NO. 546
AN ORDINANCE AMENDING ORDINANCE NO.
541 OF THE CITY COMMISSION OF THE
CITY OF DANIA, FLORIDA, ADOPTED ON
FINAL READING ON AUGUST 4, 1969,
WITH ONE PURPOSE OF THE AMENDMENT
BEING THAT OF CHANGING THE BENEFIT
FORMULA UNDER THE TERMS AND CONDI-
TIONS STATED HEREIN AND WITH A
i FURTHER PURPOSE BEING THAT OF AMEND-
ING THE DEFINITION OF "PLAN" AS SET 1
FORTH HEREIN; AND PROVIDING THAT ALL
{ ORDINANCES OR PARTS OF ORDINANCES IN
CONFLICT HEREWITH BE REPEALED TO THE
EXTENT OF SUCH CONFLICT; AND PROVIDING
THAT BY UNANIMOUS CONSENT OF ALL COM-
MISSIONERS PRESENT FOR THE INTRODUC-
TIO
N OF THE ORDINANCE AND THE READING
OF THE ORDINANCE ON FIRST READING, ON
SECOND READING AND ON THIRD READING
AT THE MEETING OF THE CITY COMMISSION
HELD ON NOVEMBER 17, 1969; AND PRO-
VIDING FOR AN EFFECTIVE DATE.
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WHEREAS, the City Commission of the City of Dania,
Florida, adopted ordinance no. 541 on August 4, 1969, for the
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purpose of establishing and adopting an actuarially sound
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retirement and pension plan for all employees of the City of
Dania, Florida; and
WHEREAS , it has been suggested by the persons who have
advised the city that certain amendments should be made; and
WHEREAS , the City Commission wants to accept said
suggestions,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE CITY OF DANIA, FLORIDA:
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Section 1. - That Article VIII . of the ordinance no.
541, adopted on final reading on August 4, 1969, be and the same
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is hereby amended to read, after amendment, as follows :
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"Article VIII .
Amount of Pension
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Paragraph 8. 1 The amount of pension payable
to a participant who retires
I on or after his normal retire-
ment date shall be an amount
j equal to 20% of the first
I $400.00 of monthly earnings i
plus 47% in excess of $400.00
of monthly earnings, provided i
the participant has at least
15 years of service, otherwise
his benefit will be reduced
proportionately, plus 1% of
jhis average monthly earnings
1 for each year in excess of 15
years . The average monthly
j earnings shall be the average
If of the monthly salary he
received during the five (5)
calendar years immediately
preceding retirement. "
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Section 2 . - That the definition of "plan" as stated
in paragraph 3.2 (in Article III . ) of said ordinance no. 541 j
be and the same is hereby amended to read, after amendment,
as follows :
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"Paragraph 3 .2 "Plan" shall mean the City of
Dania Employees ' Pension Plan
to be adopted by the Trustees
in accordance with the within
ordinance. "
Section 3 . - That except as amended herein, said
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ordinance no. 541 is hereby ratified and confirmed and shall
remain in full force and effect. j
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Section 4. - That all ordinances or parts of ordinances
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in conflict herewith are hereby repealed to the extent of such 1
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conflict.
Section 5 . - By unanimous consent of all commissioners
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i present, this ordinance has been introduced, read the first time,
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read by title only the second time and the third time and passed
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on the first reading, second reading and third reading at the
meeting of the City Commission held on November 17, 1969.
Section 6 . - That this ordinance shall be in force
and take effect immediately upon its final passage and adoption.
PASSED and ADOPTED on First Reading on the 17th day
of November, 1969.
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j PASSED and ADOPTED on Second Reading on the 17th day
I of November, 1969.
PASSED and ADOPTED on Third Reading on the 17th day
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of November, 1969.
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Mayor-Commissioner !i
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Attest:
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City Clerk-Audito
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