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Home My WebLink AboutO-08044ORDINANCE NO, AN ORDINANCE AF Nb/NG CERTAIN SU`Ri.SECTIDNS OP THE MIAMI CITY EMPLOYEES' RETIREMENT SYSTEM (ORDINANCE NO, 2210; DECEMBER b, 1929, AS AMENDED) AND THE MIAMI CITY GENERAL EMPLOYEES RET1ntENi' PLAN AN (ORDINANCE , NO. 5+524, MtiY 24 1956.,•AS AMENDED).° AS APPEARING IN CODIFICATION FORM AS A PART OF CHAPTER 2 OP THE CODE OF THE CITY OF MIAMI, FLORIDA, 1957, AS AMENDED,. MORE PARTICULARLY AMENDING StrB.,SECTIONS 2 91: (2) AND ' 2-109 : (2) OF SAID CHAPTER'-:2, B'!t PROVIDING THAT UPON SERVICE RETIREMENT AFTER HAVING REACHED MINIMUM SERVICE RETIREMENT AGE IF A MEMBER OF GROUP 1 OR GROUP 2 OP SAID SYSTEM 0R A MEMBER OF SAID PLAN '.( i) HAS COMPLETED - SINCE LAST BECOMING A MEMBER ,TWENTY -(20).YEARS -OF. CONTINUOUS CREDITED SERVICE AT THE TIME OF. HIS RETIREMENT OR .(ii) HAS.. COMPLETED SINCE LAST BECOMING A MEMBER TEN (10) YEARS OF CONTINUOUS CREDITED SERVICE AS OF HIS MINIMUM SERVICE RETIREMENT DATE AND ALSO HAS COMPLETED SINCE LAST BECOMING A MEMBER FIFTEEN (15) YEARS OF CONTINUOUS CREDITED SERVICE AT THE TIME OF HIS RETIREMENT, HE SHALL ALSO RECEIVE A PENSION EQUAL TO AN ADDITIONAL 10% OF -AVERAGE FINAL COMPENSATION; PROVIDING FURTHER THAT 'A' MEMBER CEASING TO BE AN EMPLOYEE BUT REMAINING AS A MEMBER BY VIRTUE OF A VESTED', RIGHT SO TO REMAIN SHALL NOT BE ENTITLED TO HAVE ANY OF THE MEMBERSHIP TIME AFTER CESSATION OF EMPLOYMENT, CREDITED, TOWARD 'THE' COMPUTATION OF ANY 0? THE HEREIN TIME PERIODS AND' FURTHER SHALL ONLY HAVE THAT MEMBERSHIP TIME SPENT PRIOR TO SUCH CESSATION OF EMPLOYMENT CREDITED AS SERVICE HEREIN:FOR THE PURPOSE, OF, RECEIVING THE HEREIN ADDITIONAL PENSION 'BENEFIT IF SAID PRIOR MEMBERSHI? TIME WAS, CONTINUOUS AND FOR A PERIOD: OF TWENTY-FIVE (25)`YEARS OR -MORE; CONTAINING A'SEVERABILITY'CLAUSE , DISPENSING WITH THE REQUIREMENT' OF READING THIS ORDINANCE ON TWO- SEPARATE DAYS BY A VOTE OF NOT LESS THAN FOUR -FIFTHS OF THE MEMBERS OF THE COMMISSION MUM members of The Miami City &moral 2mp16yeee' Retirement Plan and those meMbere of The Miami City Employees Retirement System who are in Croup 1 or Group 2 of paid System have secured an actuary study, which reflects that additional benefits upon service retirement might feasibly be provided said ethers subject to certain requisite conditions such as length of employment services WHEREAS, the City Commission has found that such additional contingent benefits would be considered as a factor by many individual employees influencing them to remain in city employment and accordingly such benefits will tend to preserve and maintain a strong and stable labor force; and WHEREAS, the original actuary study pointed out that the cost factor involved in the implementation of the additional benefit cannot be determined precisely In advance until such time as some actual experience develops with regardto those employees affected; WHEREAS, delayed or deferred retirements beyond the date of minimum service retirement age would result in a reduced cost factor by reason of the forbearance of those regular pension benefits which an employee would otherwise presumably receive during the deferred periods and WHERE IS, neither Ordinance lo. 2230, adopted PDecember 6, 1939, as amended, creating the Miami City Employees' Retirement System nor Ordinance NO B824, adopted May 2� 19S6, as mended, creating the Miami City Cenera1 .Employees' Retirement Plan were included as a portion of the new Code at the City of Miami, Florida, effective SepteMber i, 1067, as adopted by Ordinance to, 585, July 29198`: and WHEREAS, said System and Plan now both exist in accordance with the codified form as appears in Chapter 2 of the Code of the City of Miami, Florida, 1057, as amended, in addition to basic ordinance form;, and WHEREAS, any addition or amendments to either said System or said Plan can thus be made by reference to the section designations as they appear in said Chapter 2 of the Code of the City. of Miami, Florida, 1957, as amended NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The following changes are hereby made•in the Miami City Employees' Retirement System and the Miami City General Employees' Retirement Plan (Ordinance No. 2230 (December 6, 1939) and No. 5624 (May 2, 1956) said ordinances, as amended, appear in codification form as a part of Chapter 2 of the Code of the City of Miami, Florida, 1957, as amended: (a) Paragraph (2) of Subsection 91 of Chapter 2 of the Code of the City of Miami, Florida, 1957, as amended, is hereby amended by adding the followings Upon such retirement from, service, after having reached minimum service retirement age, a member of Group 1' or Group 2 shall also receive a pen- sion equal to an additional. 10% of (b ) the City of Miami, Florida, 1957, as amended is hereby amended by adding the followings Upon such retirement from service, after having reached minimum service retirement age, a member shall also receive a pension equal to an additional 10%'of Average Final Compensation if (i) shall have completed since last becoming a member twenty (20) years of continuous credited service at the time of his retirement, or (ii) he shall have completed since last becoming a member ten (10) years of continuous credited service as of his minimum service retirement date and shall also have completed since last becoming a member fifteen (15) years of continuous credited service at the time of his retirement, It is further provided that .a member ceasing to be an employee but remaining as a meazber by virtue of the exercise of a vested right so to remain shall not be entitled to have any of the membership time after cessation of employment credited toward the corn- putation of any of the herein time periods and further shall only have that membership time spent prior to such cessation of employment credited as service herein for the purpose of receivingthe herein additional pension benefit if said prior membership time was continuous and for a period of twenty- five (25) years or more. Section 2. If any section, sentence, clause, average i a. Coi pensae oh if (I) he shall haVe etniip eted Si 1C't last tiddoiiiitig a flietillier tweitt'y (26) years of tohtirstiO11 , xi eY oizc:dited setvice at the tiitie of his retii�enient; oi° at) lit= shall ?a o oompleted since last becoming a i tennber ten (10) years of continuous credited service as of liis minimum service ro6itit3dYit date and shall also haste ooipleted since last becoming a. member fifteen (15) years of dotitiiittotis credited service at the tiii'ie of his retirement. It it further pia'oltitit d that a tiiethibet ceasing to be ark etnpioyee bait 2eiixiaiith g e.s a itel-aber',by virtue of the ekeroise ofS. vested right so to ].=k'.ni:ain shall rust be entitled to have any of the membership time afte . cessation of employment credited toward the ;oofi'iipt ratio;,' o airy of the herein time periods aiid further shall only have that »;c.7'ibersi`.ip time spent prior to such cessation of employment ci't:tiited as service Herein for the purpose of receiving the herein additional pension benefit if said prior membership time was conttuous and for a period of twenty. -five (25) 7ear s or Morey Paragraph (2) of Subsection 109 of Chapter 2 Of the Code' of phrase or word of this Ordinano, p1 for any re&ion teid : ar deolared to be 'unconstitutional) inoperat.Ve or vsid, suoh holding or invaadity ah&ii not affect the 'rema.ntng pertiona' of this. Ordinanee, and it ehaii be eon trued to' have been the ihtenb of the co lion a ` the ei y Hof Miami to oak this ordinance without such uneonstitutional, invalldot inoperative part therettn and the remainder of this Ordihanee after the.exolusion:of such part or'parts Shall be deemed and held to be valid as . if such parts had not been .inoluded therein.-: Section 3. -That the retuirement of readingthia ordinance' on two separate'days is hereb i dispensed with'by a vote of not loss than four -fifths of the members 'of the Cotninission. PASSED 'ON FIRST READING B,. TITLE ONLY this loth d 'Mar�h� 1972. PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE ONLY this l6th day of March, 1972. H.D. SOUTHERN CITY CLERK DAVID T. KENNEDY MAYOR C1erk or the C�' y hereby certify that on the 17day of zip D. 1972-.a fall, true .and correct copy tbc 'above And foregoing ordinance was of South � � posted at the sottt}� Zoor of the Dade County Court Rouse at the 'place VroVided for notices and publications by attachinf. Raid. copy place to the provided ad therefor. WITNESS my hand and the of eia1 seal of said City this 9-2 day of...,.. `'''41 � A • /I�,1 19.. MIAMIIkLIVICW AN DAILY Pittb13 i fail bay etc dr SdtU M&; &lay' ►w t► rI tiatiatiyi RidMil dalye oithly* flood&. §tMM& tiottibA COUNTYOF D DE Sethi� tKb irn ir3ighIa $tiTKbfit, 10 filifid Mirth/ bfbbfife 'Ad an bath says #fiat %hi 13 the.. Cfffei Manager di MO Miathl Review arid Dilly Riddid, 6 daily Iblatit SitUrday, SU((l1day and Lige' .bifdeys) heics8Iper bubiithad at MWand In Dade D$Ouifity, monde: that thaattathed tops(6f adder, titerhefit, being a Legal AdvertIterftent 'br Notice Ih the matter )of Adoption of ..ard.i. tariee Uo.„p44 Re t MiaMi . City Employees Retil'etnerit Systerti Amending Ordirianoe 2230 and Ordinance 5624 hi the -X )t: X was published in said "newspaper in the issues of • AffiahSay t. further s that the said Muth) Review and Daily Retard IS a hewspaper published at Miatni, In said Dade County, t bride, and, that the said hews, paper has .heretofore. been continuously published In said Dade county, Florida, each day (except Saturday, Sunday and Legal Holidays) and has been entered as Second glass mail matter at the pest office. in Mienii, rn said Dade, CaUhty, Florida, fore period .of one year hext preceding .the. first publication, of the attached copy of advertisement;: •and affiaht further says that she has: neither paid hot promised any, parson. firm or corporation any tilscount rebate, commissibh or refuhd for the purpose of taming _this advertisement for publication in the said newspaper, L,_..{n{,.::Z!«.:z.«.f....s:Fim•fi.... '`�..«r.. «:,G.:i.l.::'..'%:{.t.« Sworn to and subsellbed before ma this 2 2nd day of , A. b. i9.2.�..... th Clatter, Notary Pub , State of Florida et Large. (SEAL) My Commission expires May 16, 1973. At thftC ;aft tfi6',lath,.' ',<13it. Ct ct 1612 • th'p Gift itilsa eiti Frf•,;th eft ' ititfl, Prr*ri6i MMotitad a)tl 1,fit i 06 4tItIU d = € tNCI tZitrAfg SUS -SEC Tt0kS Or: 'TIE .. 1<1tAt4If Ct9ti� t itiitiottEEV fit = 1.111EMti;`S 9t?STRItt. 'ORS DIIv,AMCE,,; 10. ` 'CEMt13Et3 t1, t98f1, AS Alit)tThl= Aft=. AMt 'C1'FS' Gf;1F.ItAt; PLOVE S'u REt'IREhfEf't'' MAN tclltbtt•IANCE .{ 140. 5624,i1AT 1956e,:' AS AWitgblIb) A5 •A'ti1'EAtt,i INc3 14 : CODIi!ICAI10N f:ORM.. AS A PAWS iiF' eItAt''rEtt 2 :0)4 h'1iE eobM . OF 'tI (:ITS (iF` AttAilt� o R 1 1),A: 165�, AS A�ti bF,17, AtOTtE' t'Atti Ttt't'1.Ah1.v AMENDING: ,.Stti3-sECTICihrs,—_ 9t (dl AfiD: 2.109. 12) OF SAID. 'CMAt'TE1t 2, t;rt'. S''ROVID- 1::G 'i'fiA1' t"i't)N 'St31tV= ICE itEttR1:611 g'r AFTER 3lAi'INO; 11EAC1tt t) 14t'I=, Mit`MI SI:Ri'1CT: ItF:TI1tE- 1tI:NT ACIE IF A NII;tIFii:R 01.' Ctltt7t't` 1 C)ft (moil, 2 oF 8A1D SYSTEM. OR A MEMBER. 0A SAID 14I.i:\\ ri) 11AS C0111'LT"t1Ab SINCE LAST BEC')MIING A \1EMLIEfi TWENTY (20) YEARS OF Cr)NTINUOVS CREDITED SERVICE- AT T11ETI51E OF' 1115 TIE- Titti•'1IENT: OR: (11) 11AS CoMPLisTKb SINCE ,LAST IrErt' 11NG A.: 11FMi.F:r1 TEN t10) YEARS' OF CON-. T1Nt'Ot15 C191tI'1'FAb SERt'10E, AS OF I115 MIINI- A1tMI S1•:rtVICF IRETI11E- . A1ENT DATE AND.. ALSO 11AS COM i'LFTED SINCE LAST BECOMING A ' M EM- HErt FIFTEEN '(1:,f.YEARS of CONTINt*OI'S CREDI-, TF.D SER\'IC:I. AT THE; TIME ' OF I11S RETIRE- MENT. 11I SiiALL .ALSO RECEIVE .1 1'1:NS1ON EQUAL TO AN AI)DT T10NAL 10G 01' AV'ERAC:F;, 1 FINAL C't)MP1:NSAT1UN: 1 PROVIDING FURTHER THA`1' A 'Ji1.11111' R t;'EAS i' ING TO13E A:N.EAIPI.C)1'E E titM 1tgtivii Ali titEAtttEtt 111r 'VIIt t%L ' .A vtgtkb. t1fkrtt :.,. . tl AMAt SttAtt; got fit I::Mt `t ti. b `P ItAtri Ail+ Ot' tilt! 6)ityitli1F3tt3 . . sHttd ,`t'tMi AyrtIiit CtS _ SA't't0gO1j Mtt'I.CIyfitEt4 C:ht:rfTTt:b 3O t'AttD '1fl CONIT't't'A`tli t5t A;Lti` 01 't14 It It tt-tI'tltllt4 tt:''tttOt S Agri; IttiftriPintt 814At t.ONtJit t4Atrt:3 ' A't` M§MSERittt1 -. 1 t � Ct1SS 1'ie)14 - ° ti tt'i4`= 5f Ftt'tC tti;ttRttt Ott ': 'r1t titiftPoSIS Oi' 'its CE1t'tt\'(# _ Tilt itkit11l3 Abbi ttoA•IAL t .. 'E'�ISIOYr. ..Bill*1•:Frr. IF 'SAID- rtpirrtt 1r4ENtStftS1t7P:;tit } `ttAS ' . ' .. . CONT1Kt1Ot3S 'AND A- ttintobb 03:' TIV1u:: (25) :•T.P.A1)5_ ott "At0ttf:: Cofi'TA1NINt1 ;A - SEtrERAt31iArk , CLAtJSt:, DtStyt:;NS1',t'Ci..'.'tDti- h 1tE RE QL7tt1;?d1:N'Co14 REAb, . IN 1 1•111.$-ORbIgAgCE.DN Two s> t'ARATE ,DAYS 1311A V0' E Oi: tiny' �ES8 TItAN;.1._ot.14-Ft1�TttS OF' ;tilt AMEMBEttS:Or TIt17 . ,•CoMMttsS10N which Is. destinated, Ordinnnc0 No 6044. 14 1) 50UTIIrtiN , CITY ,CLt 1 -: CITY rtF AtlAMt i FLORIDA Pnhttef�tinn: nt`tills notice oft tho 22nt1 dnv'of hInrc•h, 1972.: A,1.. Nn. 30804