Ordinance No. 58-88-12 v ORDINANCE NO. 58-88-12
AN ORDINANCE AMENDING THE ORDINANCE CODE OF THE CITY
OF ATLANTIC BEACH, FLORIDA; AMENDING CHAPTER 2,
ARTICLE VI, DIVISION 3, SECTION 2-285, TO INCREASE
THE MAXIMUM AMOUNT OF PENSION FROM 80% OF THE
MEMBER'S FINAL AVERAGE COMPENSATION TO 100%; PROVID-
ING AN EFFECTIVE DATE
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF ATLANTIC
BEACH, FLORIDA:
Section 1. Chapter 2, Article VI, Division 3, Section 2-285 is
hereby amended to read as follows:
CHAPTER 2
ADMINISTRATION
ARTICLE VI
Division 3. Retirement System
Section 2-285. Maximum Amount of Pension
In no case shall the annualized amount of a pension paid a member
of the retirement system or the annualized amount of all pension paid on
account of the death of a member, exceed the difference between:
1. Eighty-44PS One hundred (100) percent of the member's final
average compensation, and
2. The-member'-s- eitisl-eftnealieed-pr maty-ifisufaaee-emeuet-uadef
the- f cdcr-al--oak-age;-se -leers; -ioabiI t -sib-ltea-144-inst}f-
at3ee-pfegFam;-ee-ie-the-event-a€-the-4 kr�rf-4 �ttertrb --the
amittalised-perie�le--met €i-t-paid- -the--f cdcr-al--erl -age;
suEvivers;-44se 4-i y-mkkAil a- rst}�a�ree- a ff-a ;--atm,--airy
we kefs-'-eempeneetie t-bete€ire:
If the member's most recent date of hire is after December 31 ,
1978, the member's initial annualized primary insurance amount
under the federal old age, survivors, disability and health
insurance program, or in the event of the death of the member,
the annualized periodic benefit paid by the federal old age,
survivors, disability and health insurance programs; and, any
workers compensation benefits.
Section 2. This Ordinance shall take effect upon its adoption.
* * * * * * * * * * * * *
Passed by the City Commission on first reading 2..5 / 1f8
Passed by the City Commission on second & final reading ,1 /9/
1' /
f
Wiliam S. Howell, Mayor, Presiding Officer
Approved as to form and correctness:
Claude L. Mullis, City Attorney
ATTEST:
Adelaide I. Tucker, City Clerk