Ordinance No. 58-01-28 vORDINANCE NO. 58-01-28
AN ORDINANCE OF THE CITY OF ATLANTIC BEACH,
FLORIDA, AMENDING CHAPTER 2, ADMINISTRATION,
ARTICLE VI, EMPLOYEE BENEFITS, DIVISION 3,
GENERAL EMPLOYEE RETIREMENT SYSTEM, SEC. 2-
281(b), TO PROVIDE GENERAL RETIREES WITH A FIVE
PERCENT. (5%) COST OF LIVING ADJUSTMENT; AND
DIVISION 4, SEC. 2-310.10(b) TO PROVIDE POLICE
RETIREES WITH A FIVE PERCENT (5%) COST OF LIVING
ADJUSTMENT; PROVIDING FOR A SAVINGS CLAUSE,
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Atlantic Beach, Florida has. an interest in the retirement of its
employees and wishes to improve the retirement system whenever feasible; and
WHEREAS, the retired members and beneficiaries of the. City of Atlantic Beach Employees
Retirement System have not received any cost of living adjustment since January 1997, the City's
pension plan is hereby amended as follows:
NOW THEREFORE, BE IT ENACTED BY THE CITY COMMISSION OF THE
CITY OF ATLANTIC BEACH, FLORIDA, AS FOLLOWS:
Section 1: Divisors 3, General Employee Retirement System, Section 2-281(b), Cost-of-
living adjustment is amended as follows:
Sec.2-281. Amount of level straight life pension.
(b) Cost-of-living adjustment. Ali retirement system members and beneficiaries who retired
prior to January 1, 1997, shall receive a one time cost-of-living adjustment, which shall be in an
amount equal tothree. (3) percent of the benefits paid to such retired members and beneficiaries
during the immediately preceding month. _ Effective October 2001, all retirement system members
and beneficiaries who retired prior to January 1, 2001, shall receive a one time cost-of-living
adjustment which shall be in an amount equal to five (S~percent of the benefits paid to such retired
members and beneficiaries during the immediately preceding month.
Section 2: Division 4, Police Officers' Retirement System,. Section 2-310.10(b), Cost-of-
living adjustment is amended as follows:
Sec. 2-310.10. Calculation of pension benefit..
(b) Cost-of-living adjustment. All. retirement system members and beneficiaries who retired
prior to January 1, 1997, shall receive a one time cost-of-living adjustment, which shall be in an
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amount equal to three (3) percent of the benefits paid to such retired members and beneficiaries
during the immediately preceding month. Effective October 2001, all retirement system members
and beneficiaries who retired prior to January 1, 2001, shall receive a one time cost-of-living
adjustment, which shall be in an amount equal to five (5) percent of the benefits paid to such retired
members and beneficiaries during the immediatel~precedin~~month.
Section 3: The provisions adopted herein shall prevail over any existing. sections of the
Atlantic Beach Code to the extent said existing sections are contrary or inconsistent herewith.
Section 4: Severability. If any section, sentence, clause, word, or phase of this Ordinance
is held to be invalid or unconstitutional by a court of competent jurisdiction, then said holding shall
in no way affect the validity of the remaining portions of this Ordinance.
Section 5: This Ordinance shall take effect immediately upon its final passage and
adoption and be effective October 2001.
PASSED by the City Commission on first reading this 24th day of S~tember 2001
PASSED by the City Commission on second and f na1 reading this $ 'day of ~~ t3ER ,
2001.
ATTEST:
C~u~ch,~,~~ ~,.
City Jerk
as to form and correctness:
LEGEND: Underlining is new language.
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