HomeMy WebLinkAboutM-02-002801-331
1 88/01
ORDINANCE NO.
AN ORDINANCE OF THE MIAMI CITY COMMISSION
MENDING CHAPTER 40/ARTICLE IV/DIVISION 4 OF
\IOONENEFITS
E OF THE CITY OF MIAMI, FLORIDA, AS
A, ENTI'T'LED "PERSONNEL/PENSION AND
RNT PLAN/CITY OF MIAMI ELECTED
OS` RETIREMENT TRUST," TO CHANGE TI
NOF YEARS REQUIRED FOR VESTING F
PENEFITS FOR ELECTED OFFICERS F OM
TS EN YEARS; MORE PARTICULARLY BY
ASE IONS 40-291 AND 40-29b OFSAID
CONTAI NG A REPEALER PROVISIONS AND A
SILITY AUSE; AND PROVIDING FOR AN
EE DATE.
BE IT ORDAINED BY THE COMNXSSION 10F THE CITY OF MIAMI,
FLORIDA:
Section 1. Chapter 40/Artic\aa
/Division of the Code
of the City of Miami, Flo idd, entitled
"Personnel/ Pension and Retirement ami. Elected
Officers, Retirement Trus v is e following
particulars:'/
i Words and/or f.igures stricken through shall be del ed.
Underscored w�Z'
A and/or figures shall be added. The remai nc
provisions arnow in effect and remain unchanged. Asteris
indicate omit and unchanged material.
wirotaiwotj PAY
"Chapter 40
PERSONNEL
Article TV. Pension and Retirement Plan
Division 4. City of Miami
Elected Officers' Retirement Trust
Sec. 40--291 Definitions.
N
Unless Aofferent meaning is plainly /used
the context, thfollowing words and phrases
this division sh 11 have the following meag4 ng:
Elected officerenefi is shalvest after
seven years of service `
Service shall mean an
total of 16en seven years or
elected officer.
*
*
vidual who has served a
•e in the capacity of an
EN
Sec. 40-296. Benefit`:
f'
Any elected dicer who has \bene
elected
officer for a period of seven years and who
no longer serve,2` as an elected ofhall be
entitled during,/the remainder of his/hal life
to a sum equal,,'to one-half of his/her W for the
highest of tl1.6 last three years of sehis/her
term of off:i'ce and a single sum deatt fully
vested at sate of death. Upon vestingh year
thereafter of service as an elected office the
retireme..t allowance shall increase by five perce for
ff
each ygar of service to a maximum of 100 percent o the
highest W-2 wages.
S'ection 2. All ordinances or parts of ordinances ins6lFa
f
as.-Ehey are inconsistent or in conflict with the provisions of
Page 2 of 3
0,)
�� M
this\Se
inance are repealed.
tion 3. If any section, part of section, paragrap
clause, p\Pr
e or word of this Ordinance is declared invalids the
remaining visions of this Ordinance shall not be affect/ed.
Section 4N., This Ordinance shall become effec ve thirty
(30) days after f4'•nal reading and adoption thereof.2V
f�r
PASSED ON FIRS` READING BY TITLE ONLY this/ 10th day of
January 2002.
PASSED AND ADOPTED OST SECOND AND F1NAL,f'EADING BY TITLE ONLY
this day of 2002.
MANUEL A. DIAZ, MAYOR
WALTER J. FOEMAN
CITY CLERK
APPROVED AS TO -FORM AND CORRE TNESS:t,
L ANDRO.,VI L REL
C Y ATTORNEY
W1054.:BSS
2/` This Ordinance shall become effective as specified herein unless`,
vetoed by the Mayor within ten days from the date it was passed
and adopted. If the Mayor vetoes this Ordinance, it shall become
effective immediately upon override of the veto by the City
Commission or upon the effective date stated herein, whichever is
later.
Page 3 of 3
Jan -02-02 02:42pm From -CITY OF M1&OWMISSIONER REGALDO 306$68623" r_nno e m int e.o�e
A
CI OF MIAMI, FLORDA STRICT 4
INTER -0 FtGE MMORANa CHAIRMAN REGALADO
TO
FROM
Carlos Gimenez
City Manager
f
omas Regala
Commissioner
Please place the fallowing item on the
on January 10, 2002.
AN ORDINANCE OF
AMENDING CHAPT
OF THE CODE OF 'I
AS AMENDED, EN
AND RETIREMENT l
OrIFICERS, RETIRE.
TIDE NUMBER OF Y'.
OF PENSION BENE:
FROM TEN TO
PARTICULARLY HV
AND 40-296 OF
REPEALER PRO'VIS
CLAUSE; AND PR(
DATE.
Cc: Agenda Office
December 31, 2041
OATS: FILE
SUBJECT: Discussion Item
REFERENCES:
IeNCLOSURES
Of the City Cormni,ssion meeting to be held
'IAF MIAMI CITY COMMISSION
R 40/ARTICLE IV/DIVISION 4
W CITY OF MIAMI, FLORIDA,
ITLED "PERSONNEL/PENSTON
,..AN/CITY OF MIANII ELECTED
[ENT TRUST.," TO CHANGE
ARS REQUIRED FOR VESTING.,
ITS FOR ELECTED OFFICERS
SEVEN YEARS; MORE
AMENDWO SECTIONS 40-291
SID CODE; CONTAINING .A
ON AND A SEVERABILITY
VIDING FOR AN EFFECTIVE
n 4,� — () P
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