HomeMy WebLinkAboutO-1980-243 r�
ORDINANCE NO. _ 24 ;
AN ORDINANCE OF THE CITY OF DANIA, FLORIDA
AMENDING THE PENSION PLAN FOR THE GENERAL
EMPLOYEES OF THE CITY OF DANIA, FLORIDA, BY
AMENDING ARTICLE II , SECTION 3, ARTICLE IV,
SECTION 1 AND ARTICLE VI , SECTION 1, OF
ORDINANCE NO. 541; AND PROVIDING THAT ALL
RESOLUTIONS OR PARTS OF RESOLUTIONS AND ALL
ORDINANCES OR PARTS OF ORDINANCES IN CON-
FLICT HEREWITH BE REPEALED TO THE EXTENT OF
SUCH CONFLICT; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the City of Dania, Florida, adopted a Pension Plan
for General Employees by Ordinance No. 541 on Auqust 4 , 1969,
effective July 1, 1969, and amendments thereto have been sub-
sequently made from time to time , and
WHEREAS, further amendments to the Pension Plan are necessary
to conform with new pension reform legislation and the actions
of the Pension Plan Committee, and
WHEREAS, the City Commission of the City of Dania, Florida
desires to confirm these amendments i.r, ordinance form,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY C01171ISSION
OF THE CITY OF DANIA, FLORIDA:
Section 1. That Ordinance No. 541 of the Codc_ of Ordinances
of the City of Dania, Florida, as amended, is hereby further
amended as follows:
(a) Article II , Section 3, of the Plan is hereby amended
as follows in order to further clarify the provisions
of the Plan:
" 3. An Employee who was a participant under the prior
plan shall be included in this plan on the effective
date provided he makes the necessary contributions
set forth in Article III hereof. For the ouroose of
determining years of service and benefits, years of
service accrued under the prior plan shall be deemed
as service in this plan. "
(b) Article IV, Section 1 , of the Plan is hereby amended
to read as follows:
"1. Credited Service as determined by the Administrators ,
i
i
1
Y
means the number of full years of continuous service
with the City completed as an employee from his date of
hire to the date of termination of employment or actual
retirement date.
In order to grant Credited Service for all years of
continuous service an employee must make the necessary
contributions set forth in Article III when first
eligible. In the event the employee elects not to
make these contributions his Credited Service shall
be determined from the date that such contributions
acutally begin. Furthermore , Credited Service will
not be granted to an eligible employee for any period
that he was required to make the necessary contributions
but willfully failed to do so. "
(c) Article VI , Section 1, of. the Plan and Amendment
No. 5, Part IV, are hereby amended to read as follows :
"l. Normal Retirement Benefit
The monthly amount of Normal Retirement Benefit payable
to a Participant retiring on his Normal Retirement
Date and who has completed at least 15 years of Credited
Service shall be an amount equal to the sum of A plus
B below.
If the Participant was included under the prior Plan,
and did not elect to receive the value of the contribu-
tions made, his benefit will not be less than the amount
of benefit which can be provided by the cash value
as listed in Part XI of Amendment No. 5.
A. 20% of the first $400. 00 of a Participant ' s
Average Monthly Earning plus 47% of the excess over
$400. 00.
The monthly amount of Normal Retirement Benefit payable
to a Participant who retires on his Normal Retirement
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li
Date but who has completed less than 15 such years
shall be determined in the same manner as above, but
reduced proportionately for each year of Credited
Service less than 15.
B. An additional benefit of 1% of a Participant ' s
Average Monthly Earnings for each year of Credited
Service over 15 years. "
Section 2. This amendment to be known and referred to
as Amendment No. 16 , shall be effective July 1, 1969 and shall
apply to all Participants who retire or whose employment is
terminated on or after January 1, 1980 .
Section 3. Except as herein specifically amended all
other provisions of said Ordinance No. 541 and previous amend-
ments thereto shall remain in full force and effect.
Section 4 . That all resolutions or parts or resolutions
and all ordinances or parts of ordinances in conflict herewith
be and the same are hereby repealed to the extent of such conflict.
Section 5. That this ordinance shall be in force and
take effect retroactively to July 1 , 1969.
PASSED and ADOPTED on First Reading on the 26 day of.
Auqust
1980 .
PASSED and ADOPTED on Second and Final Reading on the
9fh day of September. 1980 .
MAYOR - COMMISSIONER
ATTEST:
CITY CLERK - AUDITOR
APPROVED FOR FORM ANDD.QCOORRECTIVENESS :
By-4t G GEC .
FRANK C. ADLER, City Attorney
• I 1
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AMENDMENT NO. 16
TO THE
{ PENSION PLAN FOR GENERAL EMPLOYEES
OF THE
d
CITY OF DANIA, FLORIDA
I
The City of Dania, Florida, a municipality incorporated under the laws of the
State of Florida, hereby adopts and publishes this Amendment No. 16 to the
"Pension Plan for General Employees of the City of Dania, Florida."
I. Article II, Section 3 of the Plan is hereby amended as follows in order
to further clarify the provisions of the Plan:
"3. An Employee who was a participant under the Prior Plan shall be
included in this Plan on the effective date provided he makes the
necessary contributions set forth in Article III hereof. For the
purposes of determining years of service and benefits years of
i
service accrued under the Prior Plan shall be deemed as service in this
Plan."
i
II. Article IV, Section 1 of the Plan is hereby amended to read as follows:
i
111. Credited Service as determined by the Administrators, means the
number of full years of Continuous Service with the City completed
i
as an Employee from his date of hire to the date of termination of
employment or actual Retirement Date.
In order to grant Credited Serviee for all years of Continuous Service
an Employee must ±a.ke the necessary contributions set forth in Article III
when first eligible. In the event the Employee elects not to make these
contributions his Credited Service shall be determined from the date
that such contributions actually begin. Furthermore, Credited Service
will not be granted to an eligible Employee for any period that he
was required to make the necessary contributions but willfully failed
to do so."
III. Article VI, Section 1 of the Plan and Amendment No. 5, Part IV, are hereby
amended to read as follows:
111. Normal Retirement Benefit
The monthly amount of Normal Retirement Benefit payable to a
Participant retiring on his Normal Retirement Date and who has
completed at least 15 years of Credited Service shall be an amount
equal to the sum of A plus B below.
j If the Participant was included under the prior Plan, and did not
elect to receive the value of the contributions made, his benefit
i will not be less than the amount of benefit which can be provided
i
by the cash value as listed in Part XI of Amendment No. 5
i
A. 20% of the first $400 of a Participant's Average Monthly Earning
i plus 47% of the excess over $400.
i
The monthly amount of Normal Retirement Benefit payable to a
Participant who retires on his Normal Retirement Date but who has
completed less than 15 such years shall be determined in the same
manner as above, but reduced proportionately for each year of
Credited Service less than 15.
B. An additional benefit of 1% of a Participant's Average Monthly
Earnings for each year of Credited Service over 15 years."
IV. This Amendment No. 16 shall be effective July 1, 1969. It applies to all
Participants who retire or termination of employment on or after
January 1, 1980.
3�
Executed this ZZ day 8f �L� ��� , 1980.
ATTEST: CITY OE nANIL, FLORIDA
By, By
Official Title L� �.�t'-t. i� Official Title
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