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O-708-15 ORDINANCE NO. 708-15 AN ORDINANCE OF THE MIAMI SHORES VILLAGE COUNCIL AMENDING CHAPTER 18"PERSONNEL"OF THE MIAMI SHORES VILLAGE CODE OF ORDINANCES, PROVIDING FOR THE ADDITION OF FLORIDA STATE STATUTE,CHAPTER 185, FLORIDA STATUTES, POLICE PENSION BENEFITS, PROVIDING FOR SEVERABILITY, PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS,The Police Benevolent Association (PBA) members of the Miami Shores Village Police Department have negotiated and agreed upon contract provisions to include the State's Chapter 185, Florida Statutes, pension benefits; and, WHEREAS,The Miami Shores Village Council ratified the approved PBA contract during their regularly scheduled Council Meeting of September 16,2014;and, WHEREAS,the agreed upon additional pension benefits must be included in the Village's Code of Ordinances, Chapter 18; NOW,THEREFORE, BE IT ORDAINED BY THE MIAMI SHORES VILLAGE COUNCIL: Section 1. That Section 18-85(a)(1)Service Retirement—Normal retirement is hereby amended to read as follows: (a) Normal Retirement (1) Normal retirement date. Any police officer may retire on or after his normal retirement date, which: a. Shall be the first day of the month coincident with or next following the completion of 25 years of creditable service; or b. At age 55 with 10 years of creditable service. Section 2. That Section 18-85 (b)(1) Early Retirement—Early Retirement is hereby amended to read as follows: (b) Early Retirement (1) Early retirement date. Any member may retire on or after his early retirement date,which shall be the first day of the month coincident with or next following the attainment of age 50 and the completion of 10 years of creditable service. Early retirement under the system is retirement from service with the Village on or after the member's early retirement date and prior to the member's normal retirement date. Section 3. That Section 18-85 (b)(2)a.and b. Early Retirement Benefit is hereby amended to read as follows: (2) Early retirement benefit. A member retiring on or after his early retirement date shall receive either a deferred or an immediate monthly retirement benefit payable in the same form as for normal retirement as follows: a. A deferred monthly retirement benefit shall commence on what would have been his normal retirement date had he continued employment with the Village as an employee and shall be continued on the first day of each month thereafter. The amount of each such deferred monthly benefit shall be determined as the accrued retirement benefit, except that credited service and average final compensation shall be determined as of the member's early retirement date; or b. A retirement benefit actuarially reduced by 3%for each year member's age precedes member's normal retirement date,which shall commence on the member's early retirement date and shall be continued on the first day of each month thereafter. Section 4. That Section 18-85 (d) Payment is hereby amended to read as follows: Sec. 18-85 (d)Payment. The first monthly installment shall be payable on the first day of the month following the retirement of the member,and payments thereafter shall be due and payable on the first day of each month during the lifetime of the annuitant; provided however,that not less than 120 payments are made. Section 5. That Section 18-88(a) Death Benefit is hereby amended and shall read as follows: (a) Upon the death of a member with less than 10 years of service prior to the member's early or normal retirement date,the beneficiary designated by the member shall receive a refund of the member's accumulated contributions with interest at 3 percent,compounded annually,to the member's date of separation. Section 6. That Section 18-88 is further amended by the addition of a new paragraph (b);such paragraph to read as follows: (b) Upon the death of a member with 10 or more years of creditable service, prior to the member's early or normal retirement date,the beneficiary designated by the member shall receive accrued retirement benefit at early(actuarially reduced) or normal retirement date payable for 10 years certain. Section 7. That the existing Sec. 18-88 paragraph (b) shall be renumbered as paragraph (c)and the existing paragraph (c) be renumbered as paragraph (d). Section 8. If any section, sentence, clause or phrase of this Ordinance is held to be invalid or unconstitutional by any court of competent jurisdiction, then said holding shall in no way effect the validity of the remaining portions of this Ordinance,which shall be deemed to be severable therefrom. Section 9. All ordinances or parts of ordinances in conflict herewith or inconsistent herewith, are hereby repealed, but only insofar as such ordinances may be inconsistent or in conflict with this Ordinance. Section 10. This ordinance shall take effect 30 days immediately following approval of plan amendments by the Florida Division of Retirement and upon Council's adoption on second reading within the 30 day time frame. APPROVED on first reading this 21St day of October ,2014. PASSED AND APPROVED on second reading this 7th day of April ,2015. a��+-a ATTEST: Herta Holly, Mayor Barbara A. Estep, MMC Village Clerk APPROVED AS TO FORM: Richard Sarafan Village Attorney