Ordinance No. 58-17-41 vORDINANCE NO. 58-17-41
AN ORDINANCE OF THE CITY OF ATLANTIC BEACH,
AMENDING CHAPTER 2, ADMINISTRATION, ARTICLE
VI, EMPLOYEE BENEFITS, DIVISION 3, GENERAL
EMPLOYEES' RETIREMENT SYSTEM, OF THE CODE OF
ORDINANCES OF THE CITY OF ATLANTIC BEACH;
AMENDING SECTION 2-261, DEFINITIONS; AMENDING
SECTION 2-264, FINANCES AND FUND MANAGEMENT;
AMENDING SECTION 2-266, BENEFIT AMOUNTS AND
ELIGIBILITY; AMENDING SECTION 2-274, MAXIMUM
PENSION; AMENDING SECTION 2-275, MINIMUM
DISTRIBUTION OF BENEFITS; AMENDING SECTION 2-
284, PRIOR GOVERNMENT SERVICE; AMENDING
SECTION 2-285, REEMPLOYMENT AFTER
RETIREMENT; AMENDING SECTION 2-286, DEFERRED
RETIREMENT OPTION PLAN; PROVIDING FOR
CODIFICATION; PROVIDING FOR SEVERABILITY OF
PROVISIONS; REPEALING ALL ORDINANCES IN
CONFLICT HEREWITH AND PROVIDING AN
EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF ATLANTIC
BEACH, FLORIDA;
SECTION 1: That Chapter 2, Administration, Article VI, Employee Benefits, Division
3, General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach,
is hereby amended by amending Section 2-261, Definitions, to amend the definitions of "Credited
Service", "Effective Date", and "Spouse", to read as follows:
Credited Service means the total number of years and fractional parts of years of service as a
general employee with member contributions, when required, omitting intervening years or fractional
parts of years when such member was not employed by the city as a general employee. If a vested
member leaves the employ of the city, his accumulated contributions will be returned only upon his
written request. If a member who is not vested is not reemployed as a general employee with the city
within five (5) years, his accumulated contributions, if one thousand dollars ($1,000.00) or less, shall
be returned. If a member who is not vested is not reemployed within five (5) years, his accumulated
contributions, if more than one -thousand dollars ($1,000.00), will be returned only upon the written
request of the member and upon completion of a written election to receive a cash lump sum or to
rollover the lump sum amount on forms designated by the board. Upon return of a member's
accumulated contributions, all of his rights and benefits under the system are forfeited and terminated.
The years or parts of a year that a member performs "Qualified Military Service" consisting of
voluntary or involuntary "service in the uniformed services" as defined in the Uniformed Services
Employment and Reemployment Rights Act (USERRA) (P.L.103-353), after separation from
employment as a general employee to perform training or service, shall be added to his years of credited
service for all purposes, including vesting, provided that:
(1) The member is entitled to reemployment under the provisions of USERRA.
(2) The member returns to his employment as a general employee within the time frame as
allowed by USERRA following the earlier of the date of his military discharge or his
release from service, unless otherwise required by USERRA.
employment as a general employee to perform training or service, shall be added to his years of
credited service for all purposes, including vesting, provided that:
(1) The member is entitled to reemployment under the provisions of USERRA.
(2) The member returns to his employment as a general employee within the time frame
as allowed by USERRA following the earlier of the date of his military discharge or
his release from service, unless otherwise required by USERRA.
(3) The member deposits into the fund the same sum that the member would have
contributed, if any, if he had remained a general employee during his absence. The
maximum credit for military service pursuant to this subdivision shall be five (5)
years. The member must deposit aIl missed contributions within a period equal to
three times the period of military service, but not more than five (5) years, following
re-employment or he will forfeit the right to receive credited service for his military
service pursuant to this paragraph
(4) This paragraph is intended to satisfy the mirvnnam requirements of USERRA. To the
extent that this paragraph does not meet the mini rium standards of USERRA, as it
may be amended from time to time, the rmninium standards shall apply.
In the event a member dies on or ager January 1, 2007, while performing USERRA Qualified
Military Service, the beneficiaries of the member are entitled to any benefits (other than benefit
accruals relating to the period of qualified military service) as if the member had resumed
employment and then died while employed.
Beginning January 1, 2009, to the extent required by IRC section 414(ux12), an individual
receiving differential wage payments (as defined under IRC section 3401(h)(2)) from an employer
shall be treated as employed by that employer, and the differential wage payment shall be treated as
compensation for purposes of applying the knits on annual additions under IRC section 415(c). This
provision shall be applied to all similarly situated individuals in a reasonably equivalent manner.
toward the accr
the ON or in the
shall not be permit
vear of a member's
Effective date means the date on wifich dfis ordivnice becotirs effective June 10, 2013.
Spouse means the member's or retiree's spouse
under applicable law at the time benefits become payable.
SECTION 2: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-264, Finances and Fund Management, subsection (0(2)c.,
to read as follows:
(0(2) c. In addition, the board may, upon recommendation by the board's investment
consultant, make investments in group trusts meeting the requirements of
Intemal Revenue Service Revenue Ruling 81-1001 and Revenue Ruling 20l l-
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1, IRS Notice 2012-6 and Revenue Ruling 2014-24 or successor rulings or
guidance of similar import, and operated or maintained exclusively for the
commingling and collective investment of monies, provided that the funds in
the group trust consist exclusively of trust assets held under plans qualified
under IRC section 401(a), individual retirement accounts that are exempt
under IRC section 408(e), eligible governmental plans that meet the
requirements of IRC section 457(b), and governmental plans under IRC
section 401(a)(24). For this purpose, a trust includes a custodial account or
a separate tax favored account maintained by an insurance corr>pany that is
treated as a trust under IRC section 401(f) or under IRC section 457(g)(3).
While any portion of the assets of the fund are invested in such a group trust,
such group trust is itself adopted as a part of the system or plan.
2.
3.
The separate account maintained by the group trust for the plan
pursuant to subsection c. shall not be used for, or diverted to, any
purpose other than for the exclusive benefit of the members and
SECTION 3: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-266, Benefit Amounts and Eligibility, subsection (a),
Nomml Retirement Date, to read as hollows:
(a) Normal retirement agge an date. A nrinber's 110MIal retireltrilt date 1
be the firs
is � • i it i- i il•�•i - - --i.11 i r- •• '• •
i i u i s i i • i nsome"
• i i n• i •
• • 1 IPPwW
A member's normal retirement age is fhe attainment of age sixty (60) and the completion of five (5)
vears of credited service. Each member shall become one hundred percent (100%) vested in his
accrued benefit at normal reti
of the month coincident with
attaining normal retirement age.
SECTION 4: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-274, Maximum Pension, subsections (h), (I)(2), and by
adding subsection (m), to read as follows:
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(h) Ten Thousand Dollar ($10,000) Limit; Less Than Ten Years of Service.
Notwithstanding anything in this section 2-274, the retirement benefit payable with respect to a
member shall be deemed not to exceed the limit set forth in this subsection (h) of section 2-274 if
the benefits payable, with respect to such member under this system and under all other qualified
defined benefit pension plans to which the City contributes, do not exceed ten thousand dollars
($10,000) for the applicable linitation year acid or for any prior limitation year, and the City has not
at any time maintained a qualified defined contribution plan in which the member participated;
provided, however, that if the member has completed less than ten (10) years of credited service with
the City, the limit under this subsection (h) of section 2-274 shall be a reduced limit equal to ten
thousand dollars ($10,000) multiplied by a fraction, the numerator of which is the number of the
member's years of credited service and the denominator of which is ten (10).
(l)(2) No member of the system shall be allowed to receive a retirement benefit or pension
which is in part or in whole based upon any service with respect to which the
member is already receiving, or will receive in the future, a retirement benefit or
pension from a different employer's retirement system or plan. This restriction does
not apply to social security benefits or federal benefits under Chapter 6T 1223, Title
10, U.S. Code.
SECTION 5: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-275, Minimum Distribution of Benefits, subsection (b)(2)d.,
to read as follows:
d. If the member's surviving spouse is the member's sole des' rated beneficiary
and the surviving spouse dies after the member but before distributions to the
surviving spouse begin, this subsection (b)(2), other than subsection (b)(2)a.,
will apply as if the surviving spouse were the member.
For purposes of this subsection (b)(2). and—subsection-(O, distributions are
considered to begin on the member's required bei date or, if subsection
(b)(2)d. applies, the date of distributions are required to begin to the surviving
spouse under subsection (b)(2)a. If annuity payments irrevocably commence
to the member before the member's required beginning date (or to the
member's surviving spouse before the date distributions are required to begin
to the surviving spouse under subsection (b)(2)a.) the date distributions are
considered to begin is the date distributions actually commence.
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SECTION 6: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-284, Prior Government Service, subsection (5), to read as
follows:
(5) In no event, however, may credited service be purchased pursuant to this Section for
prior service with any other governmental agency, if such prior service forms or will
form the basis of a retirement benefit or pension from a different employers'
retirement system or plan as set forth in Section 2-274, subsection 00(2-) (1)(2).
SECTION 7: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-285, Reemployment After Retirement, to read as follows:
Sec. 2-285. Reemployment after retirement.
(a) Any retiree who is retired under this system, except for disability retirement as
previously provided for, may be reemployed by any public or private employer, except the city, and
may receive compensation from that employment without ]uniting or restricting in any way the
retirement benefits payable under this system Reemployment by the city shall be subject to the
limitations set forth in this section.
(b) After normal retirement. Any retiree who is retired under normal retirement pursuant
to this system and who is reemployed by the city after that retirement shall be ineligible to participate
in this system and shall, during the period of such reemployment, continue to receive retirement
benefits previously earned if he is at least am sixty-two (62), otherwise the system shall discontinue
receipt of benefits until he reaches age sixty-two (62) or terminates employment.
(c) After early retirement. Any retiree who is retired under early retirement pursuant to
this system and who subsequently becomes an employee of the city in any capacity shall be ineligble
to participate in this system and shall discontinue receipt of benefits from the system Pension
benefit payments shall be suspended for the period of any such reemployment, but shall be restored
upon the earlier of termination of employment or such time as the reemployed retiree reaches the
date timt he would haw been efigibic fm normai retirement mider dfis system !ad ir coiyt�
employment mid not elected early retiren age sixty-two (62). Retirement pursuant to an early
retirement incentive program shall be deemed early retirement for purposes of this section if the
member was permitted to retire prior to the customary retirement date provided for in the system at
the time of retirement.
(d) Reemployment of term inated vested persons. Reemployed terminated vested persons
shall not be subject to the provisions of this section unto such time as they begin to actually receive
benefits. Upon receipt of benefits, terminated vested persons shall be treated as normal or early
retirees for purposes of applying the provisions of this section and their status as an early or normal
retiree shall be determined by the date they elect to begin to receive their benefit.
(e) DROP participants. Members or retirees who are or were in the deferred retirement
option plan shall, following termination of employment after DROP participation shall be subject
to the above restrictions.
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SECTION 8: That Chapter 2, Administration, Article VI, Employee Benefits, Division 3,
General Employees' Retirement Plan, of the Code of Ordinances of the City of Atlantic Beach, is
hereby amended by amending Section 2-286, Deferred Retirement Option Plan, to read as follows:
Sec. 2-286. Deferred retirement option plan.
Definitions. As used in this Section 2-286, the following definitions apply:
'DROP" -- The City of Atlantic Beach General Employees' Retirement System
Deferred Retirement Option Plan.
'DROP Account" -- The account established for each DROP participant under
subsection (c).
DROP account
Participation.
ets" -- For purposes of calculating earnings
to subsection (c)(2)b., for each fiscalyeaj
crease) in the interest and dividends earned c
lized wins (or losses). of the total Plan assets.
(1) Eligibility to Participate. In lieu of terminating his employment as a general
employee, any member who is eligible for normal or early retirement under the
system may elect to defer receipt of such service retirement pension and to participate
in the DROP.
(2) Election to Participate. A member's election to participate in the DROP must be
made in writing in a time and manner determined by the board and shall be effective
on the first day of the first calendar month which is at least fifteen (15) business days
after it is received by the board.
(3) Period of Participation. A member who elects to participate in the DROP under
subsection (b)(2), shall participate in the DROP for a period not to exceed sixty (60)
months beginning at the time his election to participate in the DROP first becomes
effective. An election to participate in the DROP shall constitute an irrevocable
election to resign from the service of the City not later than the date provided for in
the previous sentence. A member may participate only once.
(4) Termination of Participation.
a. A member's participation in the DROP shall cease at the earlier of
the end of his permissible period of participation in the DROP as
determined under subsection (b)(3); or
2. termination of his employment as a general employee.
b. Upon the member's termination of participation in the DROP, pursuant to
subsection a.1. above, all amounts provided for in subsection (c)(2), including
monthly benefits and investment earnings and losses, shall cease to be
transferred from the system to his DROP Account. Any amounts remaining
in his DROP Account shall be paid to him in accordance with the provisions
of subsection (d) when he terminates employment as a general employee.
In
C. A member who terminates his participation in the DROP under this
subsection (b)(4) shall not be permitted to again become a participant in the
DROP.
(5) Effect of DROP Participation on the System.
a. A member's credited service and his accrued benefit under the system shall
be determined on the date his election to participate in the DROP first
becomes effective. For purposes of determining the accrued benefit, the
member's salary for the purposes of calculating his average final
compensation shall include an amount equal to any lu np sum payments
which would have been paid to the member and included as salary as defined
herein, had the member retired under normal or early retirement and not
elected DROP participation. Member contributions attributable to any hung
suras used in the benefit calculation and not actually received by the member
shall be deducted from the first payments to the member's DROP Account.
The member shall not accrue any additional credited service or any additional
benefits under the system (except for any additional benefits provided under
any cost -of -living adjustment for retirees in the system) while he is a
participant in the DROP. After a member commences participation, he shall
not be perrrutted to again contribute to the system nor shall he be eligible for
disability or pre -retirement death benefits, except as provided for in Section
2-285, Reemployment After Retirement.
b. No amounts shall be paid to a member from the system while the member is
a participant in the DROP. Unless otherwise specified in the system, if a
member's participation in the DROP is terminated other than by terminating
his employment as a general employee, no amounts shall be paid to him from
the system until he terminates his employment as a general employee. Unless
otherwise specified in the system, amounts transferred from the system to the
member's DROP Account shall be paid directly to the member only on the
termination of his employment as a general employee.
(c) Funding.
(1) Establishment of DROP Account. A DROP Account shall be established for each
member participating in the DROP. A member's DROP Account shall consist of
amounts transferred to the DROP under subsection (c)(2), and earnings or losses on
those amounts.
(2) Transfers From Retirement System.
a. As of the first day of each month of a member's period of participation in the
DROP, the monthly retirement benefit he would have received under the
system had he terminated his employment as a general employee and elected
to receive monthly benefit payments thereunder shall be transferred to his
DROP Account, except as otherwise provided for in subsection (b)(4)b. A
member's period of participation in the DROP shall be determined in
accordance with the provisions of subsections (b)(3) and (b)(4), but in no
event shall it continue past the date he terminates his employment as a
general employee.
b. Except as otherwise provided in subsection (b)(4)b., a member's DROP
Account under this subsection (c)(2) shall be debited or credited zfier-eac
fiscal with earnings, to be credited or debited to the member's
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DROP account, determined as of the last business day of each fiscal year
Quarter and debited or credited as of such date, determined as follows:
The average daily balance in a member's DROP Account shall be credited or
debited at a rate equal to the net investment return realized by the system for
that quarter. "Net investment return" for the purpose of this paragraph is the
total return of the assets in which the Member's DROP Account is invested
by the board net of brokerage commissions, transaction costs and
management fees.
For purposes of calculating earnings on a member's DROP account pursuant
to this subsection (c)(2)b.. brokerage commissions, transaction costs, and
RM
contractual fees to the board. The investment consultant shall also report the
net investment return for each manager and the net investment return for the
total plan assets.
C. A member's DROP Account shall only be credited or debited with earnings
or losses and monthly benefits while the member is a participant in the
DROP. A member's final DROP account value for distribution to the
member upon termination of participation in the DROP shall be the value of
the account at the end of the quarter immediately preceding termination of
participation plus any monthly periodic additions made to the DROP account
subsequent to the end of the previous quarter and prior to distribution. If a
Member Fails to terminate employment after participating in the DROP for
the permissible period of DROP participation, then begiming with the
member's first month of employment following the last month of the
permissible period of DROP participation, the member's DROP Account will
no longer be credited or debited with earnings or losses, nor will monthly
benefits be transferred to the DROP account. All such non -transferred
amounts shall be forfeited and continue to be forfeited while the member is
employed by the City. A member employed by the City after the permissible
period of DROP participation will still not be eligble for pre -retirement death
and disability benefits, and will not accrue additional Credited Service except
as provided for in Section 2-286 2-285, Reemployment After Retirement.
(d) Distribution of DROP Accounts on Termination of Employment.
(1) Eligibility for Benefits. A member shall receive the balance in his DROP Account
in accordance with the provisions of this subsection (d) upon his termination of
employment as a general employee. Except as provided in subsection (d)(5), no
amounts shall be paid to a member from the DROP prior to his termination of
employment as a general employee.
(2) Form of Distribution.
a. Unless the member elects otherwise, distribution of his DROP Account shall
be made in a lump sum, subject to the direct rollover pprovisions set forth in
subsection (d)(6). Elections under this paragraph shall be in writing and shall
be made in such time or manner as the board shall determine.
b. Notwithstanding the preceding, if a member dies before his benefit is paid,
his DROP Account shall be paid to his beneficiary in such optional form as
his beneficiary may select. If no beneficiary designation is made, the DROP
Account shall be distributed to the member's estate.
10
(3) Date of Payment of Distribution. Except as otherwise provided in this subsection
(d), distribution of a member's DROP Account shall be made as soon as
administratively practicable following the member's termination of employment.
Distribution of the amount in a member's DROP account will not be made unless the
member completes a written request for distribution and a written election, on forms
designated by the board, to either receive a cash lump sum or a rollover of the hump
sum amount.
(4) Proof of Death and Right of Beneficiary or Other Person. The board may require
and rely upon such proof of death and such evidence of the right of any beneficiary
or other person to receive the value of a deceased member's DROP Account as the
board may deem proper and its determination of the right of that beneficiary or other
person to receive payment shall be conclusive.
(5) Distribution Limitation. Notwithstanding any other provision of subsection (d), all
distributions from the DROP shall conform to the "Minimum Distribution Of
Benefits" provisions as provided for herein.
(6) Direct Rollover of Certain Distributions. This subsection applies to distributions
made on or after January 1, 2002. Notwithstanding any provision of the DROP to the
contrary, a distributee may elect to have any portion of an eligible rollover
distribution paid in a direct rollover as otherwise provided under the System in
Section 2-281.
(e) Administration of DROP.
(1) Board Administers the DROP. The general administration of the DROP, the
responsibility for carrying out the provisions of the DROP and the responsibility of
overseeing the investment of the DROP's assets shall be placed in the board. The
members of the board may appoint from their number such subcommittees with such
powers as they shall determine; may adopt such administrative procedures and
regulations as they deem desirable for the conduct of their affairs; may authorize one
or more of their number or any agent to execute or deliver any instrument or make
any payment on their behalf; may retain counsel, employ agents and provide for such
clerical, accounting, actuarial and consulting services as they may require in carrying
out the provisions of the DROP; and may allocate among themselves or delegate to
other persons all or such portion of their duties under the DROP, other than those
granted to them as trustee under any trust agreement adopted for use in implementing
the DROP, as they, in their sole discretion, shall decide. A trustee shall not vote on
any question relating exclusively to himself
(2) Individual Accounts, Records and Reports. The board shall maintain records
showing the operation and condition of the DROP, including records showing the
individual balances in each member's DROP Account, and the board shall keep in
convenient form such data as may be necessary for the valuation of the assets and
liabilities of the DROP. The board shall prepare and distribute to members
participating in the DROP and other individuals or file with the appropriate
governmental agencies, as the case may be, all necessary descriptions, reports,
information returns, and data required to be distributed or filed for the DROP
pursuant to the IRC and any other applicable laws.
(3) Establishment of Rules. Subject to the limitations of the DROP, the board from time
to time shall establish rules for the administration of the DROP and the transaction
of its business. The Board shall have discretionary authority to construe and interpret
the DROP (including but not limited to determination of an individual's eligibility for
DROP participation, the right and amount of any benefit payable wider the DROP
and the date on which any individual ceases to be a participant in the DROP). The
U,
determination of the board as to the interpretation of the DROP or its determination
of any disputed questions shall be conclusive and final to the extent permitted by
applicable law.
(4) Limitation of Liability.
a. The trustees shall not incur any liability individually or on behalf of any other
individuals for any act or failure to act, made in good faith in relation to the
DROP or the funds of the DROP.
b. Neither the board nor any trustee of the board shall be responsible for any
reports furnished by any expert retained or employed by the board, but they
shall be entitled to rely thereon as well as on certificates firmished by an
accountant or an actuary, and on all opinions of counsel. The board shall be
fiully protected with respect to any action taken or suffered by it in good faith
in reliance upon such expert, accountant, actuary or counsel, and all actions
taken or suffered in such reliance shall be conclusive upon any person with
any interest in the DROP.
(fl General Provisions.
accrue
termination of employment, a me
its or her DROP account balance or
ition is in addition to the member's me
(2) Notional account. The DROP account established for such a member is a notional
account, used only for the purpose of calculation of the DROP distribution amount.
It is not a separate account in the system There is no change in the system's assets,
and there is no distribution available to the member until the member's termination
from the DROP. The member has no control over the investment of the DROP
account.
No employer discretion The DROP benefit is determined pursuant to a specific
formula which does not involve employer discretion.
IRC limit. The DROP account distribution, along with other benefits payable from
the system, is subiect to limitation under Internal Revenue Code Section 415(b).
(+ D Amendment of DROP. The DROP may be amended by an ordinance of the City at
any time and from time to time, and retroactively if deemed necessary or appropriate,
to amend in whole or in part any or all of the provisions of the DROP. However,
except as otherwise provided by law, no amendment shall make it possible for any
part of the DROP's fiends to be used for, or diverted to, purposes other than for the
exclusive benefit of persons entitled to benefits under the DROP. No amendment
shall be made which has the effect of decreasing the balance of the DROP Account
of any member.
(2 0 Facility of Payment. If a member or other person entitled to a benefit under the
DROP is unable to care for his affairs because of illness or accident or is a minor, the
board shall direct that any benefit due him shall be made only to a duly appointed
legal representative. Any payment so made shall be a complete discharge of the
liabilities of the DROP for that benefit.
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(3 7) Information. Each member, beneficiary or other person entitled to a benefit, before
any benefit shall be payable to him or on his account under the DROP, shall file with
the Board the information that it shall require to establish his rights and benefits
under the DROP.
(4 D Prevention of Escheat. If the board cannot ascertain the whereabouts of any person
to whom a payment is due under the DROP, the Board may, no earlier than three (3)
years from the date such payment is due, iniad a notice of such due and owing
payment to the last known address of such person, as shown on the records of the
board or the City. If such person has not made written claim therefor within three (3)
months of the date of the marling, the board may, if it so elects and upon receiving
advice from counsel to the system, direct that such payment and all remaining
payments otherwise due such person be canceled on the records of the system. Upon
such cancellation, the system shall have no further liability therefor except that, in the
event such person or his beneficiary later notifies the board of his whereabouts and
requests the payment or payments due to him under the DROP, the amount so applied
shall be paid to him in accordance with the provisions of the DROP.
(5 2) Written Elections, Notification.
a. Any elections, notifications or designations made by a member pursuant to
the provisions of the DROP shall be made in writing and filed with the board
in a time and manner determined by the board under rules uniformly
applicable to all employees similarly situated. The board reserves the right
to change from time to time the manner for making notifications, elections
or designations by members under the DROP if it determines after due
deliberation that such action is justified in that it improves the administration
of the DROP. In the event of a conflict between the provisions for making
an election, notification or designation set forth in the DROP and such new
administrative procedures, those new administrative procedures shall prevail
b. Each member or retiree who has a DROP Account shall be responsible for
fim ishing the Board with his current address and any subsequent changes in
his address. Any notice required to be given to a member or retiree hereunder
shall be deemed given if directed to him at the last such address given to the
board and marled by registered or certified United States mail. If any check
marled by registered or certified United States marl to such address is
returned, marling of checks, advices and direct deposit of funds will be
suspended until such time as the member or retiree notifies the board of his
address.
(6 LO) Benefits Not Guaranteed. All benefits payable to a Member from the DROP shall
be paid only from the assets of the member's DROP Account and neither the City nor
the board shall have any duty or liability to finnish the DROP with any finds,
securities or other assets except to the extent required by any applicable law.
(7 .Ll) Construction.
a. The DROP shall be construed, regulated and administered under the laws of
Florida, except where other applicable law controls.
b. The titles and headings of the subsections in this Section 2-286 are for
convenience only. In the case of ambiguity or inconsistency, the text rather
than the titles or headings shall control.
($ 12) Forfeiture of Retirement Benefits. Nothing in this Section shall be construed to
remove DROP participants from the application of any forfeiture provisions
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applicable to the system DROP participants shall be subject to forfeiture of all
retirement benefits, including DROP benefits.
(9 L3) Effect of DROP Participation on Employment. Participation in the DROP is not a
guarantee of employment and DROP participants shall be subject to the same
employment standards and policies that are applicable to employees who are not
DROP participants.
SECTION 9: Specific authority is hereby granted to codify and incorporate this Ordinance
in the existing Code of Ordinances of the City of Atlantic Beach.
SECTION 10: All Ordinances or parts of Ordinances in conflict herewith be and the same
are hereby repealed.
SECTION 11: If any section, subsection, sentence, clause, phrase of this ordinance, or the
particular application thereof shall be held invalid by any court, administrative agency, or other body
with appropriate jurisdiction, the remaining section, subsection, sentences, clauses, or phrases under
application shall not be affected thereby.
SECTION 12: That this Ordinance shall become effective upon its adoption.
PASSED ON FIRST READING, this 104-k day of A pr i I , 2017.
PASSED AND ADOPTED ON SECOND READING, this 2.444
&6 I , 2017.
ATTEST:
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