Ordinance No. 58-92-18 v ORDINANCE NO. 58-92-18
AN ORDINANCE OF THE CITY OF ATLANTIC BEACH, AMENDING
CHAPTER 2, ARTICLE VI, DIVISION 3, SECTION 2-281(c) ,
TO BRING SAID SECTION INTO CONFORMITY WITH SECTIONS
2-281 (a) AND 2-281(b) , AND PROVIDING AN EFFECTIVE
DArh
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF ATLANTIC
BEACH, FLORIDA
Section 1. Chapter 2, Article VI, Division 3, Section 2-281(c)
is hereby amended to read as follows:
CHAPTER 2. ADMINISTRATION
ARTICLE VI. EMPLOYEE BENEFITS
DIVISION 3. RETIREMENT SYSTEM
Section 2-281. Amount of Level Straight Life Pension
(c) Benefit Group General. Subject to Section 2-285, the amount
of level straight life pension shall be equal to the retiring member's
benefit group general credited service multiplied by the sum of two and
twenty-five hundredths (2.25) percent of the retiring member's final
average compensation.
Section 2. This ordinance shall take effect immediately upon
its adoption.
Passed by the City Commission on first reading September 14 , 1992 .
Passed by the City Commission on second & final reading September 28 , 1992 .
Ji.mmai
William I. Gullif.urd,
Mayor/Presiding Sffice,
Approved as to form and correctness:
an C. Jo , Esquire
City Atto . ey
ATTE ST:
Maureen King
City Clerk