O-341-69 ORDINANCE NO. 341
AN ORDINANCE AMENDING SECTIONS 6 (b), 8 (a),
and 9 (a) OF THE MIAMI SHORES PENSION PLAN
ORDINANCE NO. 273, AS AMENDED BY ORDIN-
ANCES NOS. 291, 321, and 326.
BE IT ORDAINED BY MIAMI SHORES VILLAGE:
FIRST: Sub-section (b) of Section 6 of Ordinance No. 273 is
hereby amended so that the same shall read as follows:
"(b) (As amended by Ordinance No. 291). Any member who
shall have completed at least 15 years of creditable service
may withdraw from service at the age of fifty-five (55) or
over and shall thereupon become entitled to receive a service
retirement annuity equal to the actuarial value of his annuity
at age 65, or at his option, such member shall become
entitled to the service retirement annuity, the payment of
which, however, is to be deferred until his attainment of age
sixty-five (65). 11
SECOND: Sub-section (a) of Section 8 of Ordinance No. 273 is
hereby amended so that the same shall read as follows:
"(a) Upon death of a member prior to retirement, his executor
or administrator, or such person as he shall have nominated by
written direction duly acknowledged and filed with the Board,
shall receive a refund of accumulated contributions with interest
at 3%, compounded annually, to his date of termination. 11
THIRD: Sub-section (a) of Section 9 of Ordinance No. 273 is
hereby amended so that the same shall read as follows:
"(a) Upon withdrawal from the service of the Village, a member
shall receive a refund of his accumulated contributions, provided,
however, if the refund of contributions is due to total and perman-
ent disability, as defined under the Social Security law, such that
the employee is eligible for Federal Social Security disability
benefits and such eligibility for Federal Social Security benefits
shall be satisfactory evidence of the employee's total and per-
manent disability, the member will receive a refund of accumu-
lated contributions with interest at 30/c, compounded annually, to
his date of termination. 11
FOURTH: In all other respects, said ordinance is unaffected
by this amendment.
FIFTH: This ordinance shall take effect immediately upon
its passage.
PASSED and ADOPTED this 21st day of Ja4uary, 1969.
Edwin B. Cole
Attest: Mayor
Village Clerk
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