Ordinance No. 58-20-45ORDINANCE NO. 58-20-45
AN ORDINANCE OF THE CITY OF ATLANTIC BEACH, FLORIDA
AMENDING CHAPTER 2, ADMINISTRATION, ARTICLE VI, EMPLOYEE
BENEFITS, DIVISION 3, GENERAL EMPLOYEES' RETIREMENT
SYSTEM, SECTION 2-275, "MINIMUM DISTRIBUTION OF BENEFITS,"
OF THE CODE OF ORDINANCES, TO PROVIDE FOR COMPLIANCE
WITH THE SECURE ACT; PROVIDING FOR CONFLICT; PROVIDING
FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Setting Every Community Up for Retirement Enhancement
SECURE") Act, signed into law on December 20, 2019, amended the definition of
Required Beginning Date" under Section 401(a)(9) of the Internal Revenue Code; and
WHEREAS, amendments to the Plan are necessary to conform the Retirement
System to the requirements of the SECURE Act; and
WHEREAS, the Board of Trustees of the City of Atlantic Beach General
Employees' Retirement System has recommended an amendment to the Retirement
System to comply with the SECURE Act; and
WHEREAS, the trustees of the City of Atlantic Beach General Employees'
Retirement System have requested and approved the amendments provided herein as
being in the best interests of the participants and beneficiaries and improving the
administration of the Fund, and
WHEREAS, the City Commission has received and reviewed an actuarial impact
statement related to this change and attached as such; and
WHEREAS, the City Commission deems it to be in the public interest to provide
this change to the Retirement System for its general employees;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION ON
BEHALF OF THE PEOPLE OF THE CITY OF ATLANTIC BEACH, FLORIDA:
SECTION 1. Revisions to Section 2-275(b). Section 2-275, "Minimum distribution of
benefits", subsection (b), Time and manner of distribution, of the Code of Ordinances is
hereby amended as follows:
Sec. 2-275. — Minimum distribution of benefits.
b) Time and manner of distribution.
1) Required beginning date. The member's entire interest
will be distributed, or begin to be distributed, to the
member no later than:
a. With regard to distributions required to be made
to a member who reaches age 70 1/2 before
January 1, 2020: no later than the Member's
1}a -n April 1 of the calendar year following the
later of the calendar year in which the member
attains age seventy and one-half (70 1/
2), or April
1 of the calendar year in which the member
terminates employment with the district,
whichever is later.
b. With regard to distributions required to be made
on or after January 1, 2020 to a participant who
reaches the aqe of 70 1/2 on or after said date:
April 1 of the calendar year that next follows the
calendar year in which the participant attains or
will attain the aqe of 72 years, or April 1 of the
calendar year that next follows the calendar
year in which the participant retires, whichever
is later.
SECTION 2. Conflict. All ordinances, resolutions, official determinations or parts thereof
previously adopted or entered by the City or any of its officials and in conflict with this
ordinance are repealed to the extent inconsistent herewith.
SECTION 3. Severability. If a Court of competent jurisdiction at any time finds any
provision of this Ordinance to be unlawful, illegal, or unenforceable, the offending
provision shall be deemed severable and removed from the remaining provisions of this
Ordinance which shall remain in full force and intact.
SECTION 4. Effective Date. This ordinance shall take effect upon final reading and
approval.
PASSED by the City Commission on first reading this 12th day of October
2020.
PASSED by the City Commission on second and final reading this 26th day of
October , 2020.
Attest:
ylQo V7didtze,
Donna L. Bartle, City Clerk
Approved as to form and correctness:
M.4ucipj-1, City Attorney
CITY OF ATLANTIC BEACH
Ellen Glasser, Mayor