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Home My WebLink AboutO-08193ORDINANCE NO. 8193 1� I oR IJ1N•'\:,...E PROVIDING 'Ci AM Al)aUET M NT EFFECTIVE AS G,' October 1,1973 IN THE PENSIO?iS \.`r' ALL BENEFICIARIES OP THE MIA I CIT.'," :•iPOYEES' RETIRE- MENT SYSTEM AND O, THE ' u.1‘,' I CITY GENERAL EMPLOYEES' RETIREMENT PLAN SO THAT AS RE- SPECTS EACH BENEFICIARY AS OF SUCH DATE, TUE PENSION BENEFIT SHALL i3;., IiiCREASED • BY AN AGGREGATE AMOUNT DETERMINED BY IN-' CREASING Tlii; PENSION BENEFIT BY ONE PER- CENT (.1.; ) O;. T;TE ORIGINAL BENEFIT FOR F,ACii YEAR SINCE THE RESPECTIVE DATE OF i?ETIRE.-1 NT FOR EACH BENEFICIARY; AND BY PROVCDI`iG 'i'iLAT T::i? AMOUNT OF EACH SUCH INCRE: SE SHALL BE ADDED TO THE PRESENT PENSION BENEFIT, AND THE RESULTING AMOUNT SHALL HENCEFORTH EE PAYABLE ON A MONTHLY BASIS; AND BY FURTHER PROVIDING TIIAT FOR PURPOSES OE API'L,YTNG THE ORDINANCE PRO- VISION OP ORDINANCE NO. 7798, ADOPTED SI C'TEi BER 25, 1.969, PERTAINING TO VARIABLE U'.;IT ' 07 1 . L'.l.REMu'NT INCOME, THE ADJUSTED PENSION BENEFIT AS Ii: RZ IvABOVE DETERMINED 1[ALIL BE USED AS BASE MONTHLY RETIREMENT AULOiti'A CE i'OR THE COMPUTATION OF IIENSFIT CIUkNG ;S, 'L1' ANY, MUCII ARISE BY REASON OF Ci iAUGE IN THE VALUE OF VARIABLE UNITS; AND CONTAINING A SEVER?ABII.:ITY PROVISION DJS PE2iSIiiG WITH THE REQUIREMENT Of READING TiiIS ORDINANCE ON i 40 SEPARATE DAYS 3Y A VOTE OF NOT LESS THAN FOUR -FIFTHS OF T:IE MEMBERS OF THE CO:,:MISSION . WHEREAS, the maintenance of a loyal force of city em- ployees is essential to the order and well being of the citizens of this municipality; and WHEREAS, the City Commission has constantly expressed its concern for city employees and the problems faced by these employees; and WHEREAS, it is only through genuine and continuing con- sideration for the city employee before and after his or her re- tirement that the city is able to achieve a high retention level 1 of city employees on its work force; and WHEREAS, the sums received by beneficiaries of the Miami City Employees' Retirement System and of the Miami City General Employees' Retirement plan have previously been adjust- ed for the purpose of recognizing a steady and sizeable cost of living increase that has taken place since the date said bene- ficiaries became a beneficiary; and WHEREAS, the sums presently being paid to beneficiaries, because of the increase that has taken place in the cost of liv- ing since the last previous adjustment in pension benefits, are totally inadequate to provide the compensation earned by the re- tired employees; and WHEREAS, this continuing concern was expressed in Resolution No. 73-491, passed and adopted by the City Commission on June 28, 1973, whereby provisions were made for including an amount sufficient for the increase herein provided in the budget for fiscal year 1973-74; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. Effective as of October 1,1973 , the pensions of all beneficiaries of the Miami City Employees' Retire- ment System and of the Miami City General Employees' Retirement Plan shall be adjusted so that, as respects each beneficiary as of such date, the pension benefit shall be increased by an aggre- gate amount determined by increasing the pension benefit by one percent (1%) of the original benefit for each year since the respective date of retirement for each beneficiary. The amount of each such increase shall be added to the present pension benefit, and the resulting amount shall.henceforth be payable on a monthly basis. • Section 2. For purposes of applying the ordinance provision of Ordinance No. 7798, adopted September 25, 1939, pertaining to variable units of retirement income,' the adjust- ed pension benefit as hereinabove determined shall be used as the base monthly retirement allowance for the computation of benefit changes, if any, which arise by reason of change in the value of variable units. Section 3. If any section, sentence, clause, phrase or word of this Ordinance is for any reason held or declared to be unconstitutional, inoperative or void, such holding or in- validity shall not affect the remaining portions of this Ordinance, and it shall be construed to have been the intent of the'Commission of the City of Miami to pass this Ordinance without such unconstitutional, invalid or inoperative part therein; and the remainder of this Ordinance a:;ter the exclusion of such part or parts shall be deemed and held to be valid as if such parts had not been included therein. Section 4. That the requirement of reading this Ordinance on two separate days is hereby dispensed with by a vote of not less than 'four -fifths of the members of the Commission. PASSED AND ADOPTED this 26th day of September,1973. DAVID T. KENNEDY MAYOR H.D. SOUTHERN CITY CLERIC 1AM1 ANb 15ArL Y AteCe at ti3 d btiiy; atail§UrrJ, %r=kit flol l i&Mif back+; `,ltdUya ' o i' M trAft 'OP lMA i ib 'lilYil flIRn d rluthg �ii5fiBiiilti i 15 a ftftl Mi tha `brobllla, who `ofi bstt sisV th3 t3h(i a the ` V, a Legal ., dlt bf tfib Mia?ili aview &id . aaby Faeord,, flatly tbltaipt Stattrdy, Sufiday Arid Liigei: H5lfdiys) newil apex biiblitfte St : Mtat I Iii Didb:bounty Flofida; that the Attached c0 y:bf adult,' t samant, being • b Legal .'Advertl.els,-ent br ; Niltite In ire :ffiatter df. ... 1 In the Y tourt�. was published if Sild hewspapeeih tha Is§ues of • Affiant-further seys_'that the:bald Mishit Review and Daily Record is a newspaper, published et Mienii, • In "said Dade County, Florida;and that the Said hews. paper. has. heretofore been' continuously published in said bade County. Florida,` each day (except Saturday. Sunday and Legal ,Holidays). and. has been entered as secohd blast mall Matter. at the post office lh iahli, in said'DadeCounty, Florida, for a period of one. year hest ; preceding the. first publication bf the : attached copy of • adve isementt `and affiant. further,. says. that the; has neither paid, nor promised any person, firm or Corporation any . discount, rebate, cbmmission br refund for the purpose of securing this advertisement for publication in,.the,i.said Newspaper ,• p]rof to apt spot • ibC • fore me this. s.: ! .d Vt.. /,?v. t'r, '..19 7 t.4:, M t...... e�. I le Put{1 t3Stat- .f'EJo• j (SEAL)' ... _ t�N ✓ My Commission ping (��fU bi et- , 1977. aat Large.' Lt Ati Rts+trt Alt lni IE At; h '�flSit1�}8�i'.3ti lith dale Cofv►#ii �itibht tt+ hnhc ' hiittl + Aft 1Ist'6W Ist Atli di • A'i", C1'i+ B't13Y+Y T1>#EM 'S fi *It R �r�itt ' : TI1AT AS'.R 3S1'II CT8 i A ' tI;2EFICIAttY ' }W t OF SGCi1 DA'TFi. rnnE . i 810 B1 N5WtT SITALL Bt1 INCItEASF3D: BY "Ail At1 GREGATE 'AMOUNT Dti TER .FINED 1IY I.NCR1" A'S. INt; THE PENSTOE BENB• FIh `i Bl ONE t'ERCENT 11„ ), : O..TIIE ORIGINAL BENEFIT FOit ';EACH )(EAR SINCE T11I3 RE- S,PECT'IVB DATE" 13F RE- ,BENEFIG1ARY PROVIDI;IO TItAT= THE , AMOUNT QF INCREASE SKALD BE'. ADDED TO.: THE PRESENT PENSION ,BENEF'IT, AND THE RESUI:TINC* AMOt NT SHALL:I4ENCE'FO'RTII BE :PAYABLE ON A" MONTH- LY:'• 13ASIS.°A.�*D SIB :F: U R T H E R: PfOVIDINO: (` TIIAT FOR PURPOSES OF APPLYING': TEE'' ORDI NA N C E: PROVISION OF • ORDINANCE NO:' 779S, ':,ADOPTED:SI:PTEMBFR 25, 19e9. PERTAINING TO.r: VARIABLE U YTS 'OF t{D TIREMENT'INCOME THE " ',A_D:3 U S..T E D PENSION :- BENEFIT' ` AS IiEREIN.; A it 0 V'E'DETERMINEI) SHALL BE. USED AS BABE MONTHLY: RETIREMENT ,ALLOWANCE'>' • FOR THE .COMPUTATION • OF BENS- TIT 'CHANCES -WHICH .` ARISE ,i.ITT SON OF CHAINOE::IN :THE • .:VALUE OF VARIABLE UNITS: AND CONTAINING ; SEV.EERABIL1TY':.PROVI-. , ;SIGN `,;DISPENSING 'WITH, THE ' REQU1R1 MENTs OF BEADIiG`L.:THIS 'NANCE ON TWO '.SEPA- R:ATE DAYS' BYE.:Ar:VOTE, OF NOT LESS:; .:.THAN FOUR -FIFTHS OF THE EMBERS OFTHE COM- :MISSION.; ; ahieh Is: designated: Ordinance;_..: N'o:;"5193 H D SO1iTIB RN CITY- CLERK:: CITT". OF MI OBI, TLORIDA ?ublicatiorr or lids nntlre on the 1st day `;Of Obtobrr, ,3979.' PP.OVIDI:Its FOR AN ADJU'yT AS OF O tbbei 14 NSfONS OE' ALL EN�t BrIGfIiItI �S x MI:tlMI CITY r p t I Ei�t� �Oi'EES ` .rT �":� �`,s,..u,.,',�'" yySYS Ty3�M AND or Tat MIt�M[I± CITY}±� �i 3�{Y�' ykrii`f_?, OYECS i RETIREM NT PLAN SO aA A ~.2EtrJ TS LACH BtNtFtCIARY AS OF S`UCIi DAT.B ' k PtThtSION BL"NE; 'IT SHALL Eu INCAEASt AGGREGATE AMOUNT DE'd'Et MINn BY BASING NG THE PENSION BENr.'IT BY ONt 1 LNT (1%) OF TIIE ORIGINAL i ENEt'tT F011. Crl YEAR SINCE THE RESPECTIVE DATE OF DTIA8MtNT FOR EACH BENEFICIARY: AND OVIDING THAT THE AMOUNT OF EACH StCH, NCREASE SHALL BE ADDED TO THE PRESENT NSION BENEFIT, END THE RESULTING AMOUNT ,HALL HENCEFORTH BE PAYABLE ON A MONTHLY PSIS; AND BY FURTHER PROVIDING THAT FOR DEPOSES OF APPLYING THE ORDINANCE PRO- SION OF ORDINANCE NO. 7798, ADOPTED PTEMBER 25, 1969, PERTAINING TO VARIABLE tITS OF RETIREMENT INCOME, THE ADJUSTED 'ENSION BENEFIT AS HEREINABOVE DETERMINED ii LL BE USED AS BAS.c, MONTHLY RETIREMENT LOWANCE FOR THE COMPUTATION OF BENEFIT, NGES, IF ANY, WHICf ARISE BY REASON CHANGE IN THE VALUE OF VARIABLE UNITS; AND CONTAINING A SEVEIABILITY PROVISION SI:SPENSING WITH THE REQUIREMENT OF REACING C'HIS ORDINANCE ON TWO SEPARATE DAYS BY �OTE OF NOT LESS THAN FOUR -FIFTHS OF THE MEMBERS OF THE COMMISSION, `r" of City,' employees on its work force t and '' HERaNS, the sums received by be e 1t tciarte:i of the Miami City Employees' Retirement- System and of the Miami City Cenera1 Employees' Retirement Plan have previously been Adjust- ed for the purpose of recognizi nq a steady and sizeable cost of living increase that has taken place since the Cate said bene- ficiaries became a beneficiary; and WHEREAS, the sums presently being paid to beneficiaries, because of the increase that has taken place in the cost of liv- ing since the last previous adjustment in pension benefits, are totally inadequate to provide the compensation earned by the re- tired employees; and WHEREAS, this continuing concern was expressed in Resolution No. 73-491, passed and adopted by the City Commission on June 23, 1973, whereby provisions were made for including an amount sufficient for the increase herein provided in the budget for fiscal year 1973-74; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. Effective as of October 1,1973 , the pensions of all beneficiaries of the Miami City Employees' Retire- ment System and of the Miami City General Employees' Retirement Plan shall be adjusted so that, as respects each beneficiary as of such date, the pension benefit shall be increased by an aggre- gate amount determined by increasing the pension benefit by one percent (1%) of the original benefit for each year since the respective date of retirement for each beneficiary. The amount of each such increase shall be added to the present pension benefit, and the resulting amount shall raneeforth be payable on a monthly basis. 2 ,,..!ctHon 3. For purposes of t':?_? cy'."..i:!a: _-' o_ O-:iinan'ce No. 7 H eot,anter 2 1939 Dertainin to variable Inits L r=.ent tnco.7e, t:1'c a:.jusi.- i?'.'l pension benefit as h?retnabove CL..tt "r11ned shall be used gas the base monthly ?retlret en= I o:ianc' for the _'o.^,?i :atio:1 o benefit changes, if any, which arise by reason of change in the value of variable units. Section 3. Tf anv section, sentence, clause, phrase or word of this Ordinance is for any reason held or declared to be unconstitutional, inoperative or void, such holding or in- validity shall not affect the remaining portions of this Ordinance, and it shall be construed to have been the intent of the Commission of the City of Miami to pass this Ordinance without such unconstitutional, invalid or inoperative part therein; and the remainder of this Ordinance after the exclusion of such part or parts shall be deemed and held to he valid as if such parts haci not been included therein. Section 4. That the requirement of reading this Ordinance on two separate days is hereby dispensed with by a vote of not less than four -fifths of the members of the Commission. PASSED ON FIRST READING BY TITLE ONLY this day of , 1973. 1 P�gS ADOPTED ON SECOND AND FINAL READING BY TITLE OrTLY this _ day of , 1973. CITY CLERI: -- 3 - A Y O R 'RANI Hs W S`'ON ASSISTANT CITY ATTORNEY aoaN S. LLOS ASSISTANT AN DIRECTOR APPROVED AS TO FORM AND CORRECTNESS: