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Home My WebLink AboutDocumentation_Regular_Tab 09_01/10/2013 VILLAGE CLERK postponed from 12/13/12 Council AGENDA ITEM TRANSII Meeting ------------------ ---------------- ----- - -------._...__.. Meeting Date: Meeting Type: Regular Ordinance #: Ord.1�3-12 Second Reading ' � ., 12/13/12 (Revised from 1 . Consent Agenda: No Resolution #: � Originating Department: Legal , :—______.. __._.__ __�__.—____ . _____ --_-- J 1 � • • • • ' � � • • � � � ; ORDINANCE 18-12, SECOND READING, AMENDING THE VILLAGE CODE OF ORDINANCES AT CHAPTER 2. ADMINfSTRATION. AT ARTICLE II. VILLAGE COUNCIL, TO PROVIDE CLARIFYING I LANGUAGE AND INTERNAL CONSISTENCY; AT ARTICLE III. OFFICERS, EMPLOYEES AND DEPARTMENTS, TO CLOSE THE PUBLIC SAFETY PENSION PIAN TO NEWLY HIRED POLICE OFFICERS AFTER FEBRUARY 1, 2013 AND AMENDING EXHIBIT B ACCORDINGLY AND TO MAKE CERTAIN INVESTMENT CHANGES RECOMMENDED BY THE FUND'S INVESTMENT MANAGER AND MONITOR, AND TO PROVIDE FOR VARIOUS VILLAGE OFFICERS AND DEPARTMENTS; AT ARTICLE IV. CODE ENFORCEMENT, TO REVlSE THE TERM OF EMPLOYMENT FOR THE CODE ENFORCEMENT SPECIAL MAGISTRATE, AND TO UPDATE NOTICE REQUIREMENTS IN ACCORDANCE WITH STATE LAW; AND AT ARTICLE V. ELECTIONS, TO PROVIDE CLARIFYING LANGUAGE AND INTERNAL CONSIST AND TO PR FO T HE FILLING OF A COUN CIL MEMB ELECT VACANCY � � � Account #: I Amount of this item: � Current Budgeted Amount Available: Amount Remaining after item: Budget Transfer Required: Appropriate Fund Balance: _ � • �s ,�; � � r . • . . -� . Depa rtment Head Pro vided by Legal --- -- -- --_-------- --___ _, _ — -- Finance Director ' , Reviewed for Financi�l $u�ciency ❑ �Y� '� ��,/''� � No Financial Impact ; 1 �� Attorney: (for legal sufficiency) Village Manager: Submit for Council Discussion: � Approve Item: ❑ Deny Item: � _ _ _ • � �K. � - .. - - . � . . . - - ,. ,.,.� . - u .��w��-w... p , .-,. . ,� ,'a ��;�• � r ,c�.,a��r:. _' ` ,s; .._,... � �, .M . _. . . _ . . . . .. . _ . . _ _._ _._ _ _ . .. _ __ -___ _ . .. . Form Amended: 7112/12 �� t�I� �,.�ti('E DEP 3RT�3E��vT DATE: DECEMBER 4, 201Z TO: LQRI MCWiLLIAMS, VII,LAGE CLERK FROM: JOANN FG►RSYTHE, FINANCE DIRECTOR RE: ACTUARIAL VALUATION OF CUST TO CLflSE � PQLICE PENSION PLAN Lori, The v�luation performed by Galmet Roeder S�ith, r�garding the cos# c�f closing the Poiice Pension Plan should be attached to Ordinar�ce 18-12. According to Bonni ]ensen, attomey far the pensiun trust, the valuation is required by statute to b� prese�ed to the Viliage Cotutcil priar to the second react�ng of the flydi�a�ce 18-} 2. 12/4/123:02 PM �ah�id Roe�r �& Compa�y Qne F�st Btowv�d H�rd. 95A.5�?,lblb phame +Cu�s�lcants & A�waries 5ni�e 5f� 3�[.S'25.Ek� �x !�t Is�d�1a1�, PL 33�1-18�Q4 �t�i�etJ�..t� "--- _ -- ... - . . . . . . 'rYi�i��lYlr��illfl�ir�n � � ��Y� � �� 6 �VIS. �Et��! RQtS�IC F� Direcx� Vil�ge afT� 34S Teq� Ih. Teque,sta, FL 33469-0Z'73 R�es �V� ef`� �b� �► t�frccrs' � T�ud � .. �� 1s ��tl, v�e a�C� �!l�� r�e � � � clase ti� � ta gcdi�e o� F�.oe tr��i J��xy 1, 2813. We Iiave �tosed an eahibit �wing a 2(1-ynsr �cc�tioa of t�e ra�ir+ed � . �`� �� for police offic�s � bath tl� currc�t � p�visia� and t�e p�sed P� �, Tbe a�'bi+! tk� �t incl� aay additioaai em�la�r �s to t�e D�ed �on Pkm � n�v poii�cacao ��. it is �t�►t to note tt� t� �� t�+e ac+e ao fu�a+� �ns ��, �h'�e ��'� s�ic� i�av�t r�aca a� �h.e� v� af a�ts of 1�� t�a fiacal yr�r a�it�8 S� �it� 2pt2. � '�'he �adn� a�� cc� f�a' � c1+�ea�i � are sh�wa u�'�vt3 �. t:Ta�r t�e . . . . . . ' �+a � reflected the same. �ns �d m�s i�. frn� 4ctobar I, 301 ��al� � U�der � � �, ive �e � �. the fi�e� � .fre�i t� .F.�jt �1�e 11T� met�d. tv t�s �te mdhod: '�'he m�d ��rs ' f� s ek�+��n.'a�cthe o�ective nf tbis �, is �� f�d. Fi�n's iia�i�ity b�y � tit�e=�[e l� e� �. �i�e t2ie �ed dste af �g �e Pll� ia danuac� t, �413, v� �v+a �Hex�e� �e �sp� c�£{� 185 � �8 � � �8 � 3t1, 2{fI3 � � t�tre amo�nt ra�vod c� �Cal yau` �: &e.pt_ernber 30, 2(fI2: 'i� P� wc�d ��r€eit C�fia 1&S rav�te �,omg £orvvatid. Addi�ional � i�lud�d "iu tl�e �pc�d � are � fullaa+s: • Prrr�+isior�s arc addad �awn�g: a�r�ed men� ta ch�n�ie �is ��a b�a�7i+' �'pP' � t�►o tis� �►it� t�e appr�val of the c�u�at �iary au� �t }�r�of a€ �� o� c�t �y. ■ Fi+�+visions �ed to ��d ofTn�aes are�� ysQ�a ttre a� p� ��` n�,�► is i,�s li� �m. ' �tv�t�t p� �e � bY �t�r t� �i ��c pnet�li� t� be �ad � � �v th�.inv�m�tt.g�,1�g � � � Y� � �o �i t�`�t�l fi�, � t� v� �f � is� 6�' � �e . . . #�S�:e�� t+a� � �d - � �e �t v� � �6�d► af tl�.ari� � � t�'�Ye c�t�e �t �ot �. In aur c�rpi�aio�, t�e a�ditior�si c�es wa�1d have na s�t �rial i�t � th+e �. �v � additicmal ch�e ��o;+c atlQ�vs �� d�e.tl� jos�t �t�s �� two t� a� pay�nts ca�ne�. Tlria pn�isi� �e�l �rm tl�e �Oar to ��+e� tio ��`�i�°'. For �. �► F�c Nav+�r 38, Z012 Fag� 2 eacatx�l�, i€ the iratiroe's jan�t a�if� i� �tt � ao�l� m�ioa a a� �t n�gte a �thy j�t �i.taat. `Iliis c�e wo� � tlie�rof� P.tm� � d� �� l�fd�e of � f�t 1es� is tai� imtor ��t•�g �e �t af t�e �v,}�at � s�vfv� p�. Tho ant�cd'�ted c�st of t�is pr�a�ri�ion c,en ba ha�lcd ar t�p� k�nd. r�t �t_� � 1�. �� is to be ha��ed at the r�ire� �, t�e pma�dima ��e �n"b�t ��, �.. would be to a�me t�e �t a�ui� ��ive yeatr$ talde�#� �d� ar Ir� �1 a�er, mrh� do�urnrne�i�ttien est�blisfim� gYood heatth is ptnvidod to tbc Boa�d� If � BosFd �s ncit sd� a pmcecture sirnilar to the �ch �how�t eb�►e� t�is p�ov�ori �► cau� � luss�. I�s �vhn tal�e of' ". . • ri �! ca�e � �. �c �� it� �"a�i'i-sele�a�C' � tt�s k�r p�y �at va�i i� ef #�, �ve � no� fe� � � �c f� ac�v�d �g is �ry 'I� � � lre �d � t3� I3�+��'F� b�#� £�1.Pu�C �arin� a��d� �: Pie�se ha�e a.�r c�t�e � of �aos ei� �e �. 'I� �#he � sl� � e cog�! ofthepropc►�ed �t,a Ta�ssa�. Aeldi�ic�nai I?iac�e 'I'l�is reporC was p�ad �t the � of t�e Bo�xl a�d 3s �. ��usc�"� �� tl�e �c�igttatai a� appro�v�cd �y t�e Board. Tbis r�t �►be p�ov�d to�p�tiea c�� t�e �o�. � �n i� esxtirety► and c�uady wsth the ge�as� of the Hv�d. Tl� �nupo�c of this rspatt is tfl de�i'be ��rl v�fa� � d�e. � ��:� nat be reli�d on �or �ay pu�pase other than �he p�upc�� t�at'bed ab��ve. Th++� c�tc�ulativaa� in t1�is i+e�oit �� u�► �o�eon fiux�od by #�e FFaa '' fc►� �e t�eetaber 1, 2Q11 Ac�rial Valuati� �nceaaingPlsu�, fi�a� � P1�a-P�'a�a� �-. active �bets, te�od a�s, ratiroe�s a�l �t�asi�s. We �ed t}�.�eaa fos i�t�al and yea�-�o-year ,;1�t did ao�t otlu�wis� � t�e c�ata. We ar� aot �'�ie. far ti�c �oc�c}� o� caoa�pl�s of t�e ��ov�d by tl�t Pl� . . ',The w,lc�tl�rtat�s � � � � f�e� ��.� �i`�'�.. � .. , T�y arc � � t� �t�e . : . �ods. � �: ' � � . � ac�rial m�eas�• �.y differ �y fc�o�n filiac� . P� ��E �' to sw�h f�ct� a� tl� �� ri� fi�t t� s�d b� ��' deniQgraphic �Oas; c� ici �ma� or ' _ . `o�; i� �� ` . . acpoCted as �aut cff �e n�uai � af t�e �� t�e �� e�d o� an amortiz�etion pa�iod or addYtional cx�st o�r c�rt'butio� � basad c� t�t p�ar's fii�o� s�s,�, �d �S� � P� Fmvisioas ar app7i�able isw. If you hs� rcm�cm !o t�eliove #h�t t� a�o� t�►t �vea�e uscd are uareasa�bl$, tbst the plan provisio�s ac+e iaaorr�tly d�ribed, �at �� P�+�� re1�v�at ta tl�is pr�a,l arc ��E �'bai, br t�t caralitions:t►a"ve ��'Wa+e �dt� yv� shaulc� � the �r af t}� �r� px4or to relyi� c�s iafor�oation in �►c s�o�rt. T�e ��d �ric� ane. �s of �e A�ic� �sd�t of A� � �t t�a . . �tar�lai+ds c�ft�e A�n A,�ny c�f �� to r� �.�ie� . ��i� � �- '� w�ieraignecl ��+e � of ttxe glan s�. C�riel Ro� �h -SG �Oao�any Ms. Ioc�y Forsythc i�Iovembex 28, 2012 Pagc 3 TI�s repo�t }�s b� p�ed �► ac��aries vvbct hsve •. � � �. Tv t� be�t-of vur kna�iodge 13� ' - :u��.� � " � � f�ly � the �uaftal P�a of the Pi�u as oft�e �ia�a �: .� ' �eb�� iA . c�rmitY wi�l'► �lY a�d aebuar�t prin�tipks �md �, �md � tho � . . - �f P� isstie�d �r the A�ial Sta�d� H�d a�d vv�t �k� ��Y �� - � w'V � � �� F� A��. i i=1364 ll�ba�y I+T� 1�-l�99 Et�lo�res ix: �om�i J� Dtxi�e A� Cab�iel Rocder �h & C�os�riy Village of T�u�ta Public Safety Officers' Pension Trust F�d ImPact Stat�e�t — Nove�ber 28, 2i112 Descriptio� of Amendme�s The propos� ordinance would close the Plan. to police officers hired on or after January 1, 20I3. Funding Implications of Amendment An actuarial cost estimate is attached. Certificxtiou of Admiaistrator I believe the amendment to be in complian �vith Part VII, Chapter 112, Florida Staiutes and Sectian 14, Article X of the C�tution of the State of F'da. For e Board of Trustees as P Administrator Village of Tequest� Public Safety Officers Pension Trust Fund 20-Year Proje�tlon of Required City Contributlons for Police Officers c.�� a. c� �.� � r�� roi� or� No c"ha� m A�nmpaomr or Mdhoas n�te Fnoatn� M�Oa ��..�.�.� .��..� �p� �Y Cautrq►�toa R�quiire� City Couhibutba• ��(e�) R�eqnired CHy Cs�hfbuNoa* Sav1a�N(Co�t3 Fbesl Yar Passbosbk Bs�s� Pay S Amonet °h af Pay Penatoeable Psy S Amoaat 'K sf Psy S A�osnt 8 Amauat '/. of Ysy S Amoumt 2013 903,343 182,t37 20.t6'llo $69,567 t74,088 2Q0296 8A49 155,653 17.9096 2ft,4$4 2.014 448,837 200,953 21.l8°�► 878,020 2t7,398 24.T6'K (16.445y 196.852 22.429G 4,101 20i5 996,107 2t5,199 21.Gt196 887,371 2Z2,9% 25.139'6 (7,79'� 203,918 22.989'0 11,281 2016 1,003�653 216,�1 Z1.62°!e 751,156 189,367 2511°b 27.614 174,043 23.1796 42,938 20t7 1.M1,S78 218,5l5 20,9856 701,8'94 l93,SQ� 24.7294 45�007 i68�735 24.0496 49,7811 2Ul8 1,071,353 2t9,281 2U.47y6 645,533 155,313 24.069�0 63.966 155.444 ?A.OSYe 63,837 2019 1,042.183 222,004 20.339G 580,753 138.Si0 23.8554 83 142,40t 24.52'N� 79.6tXi 2A2d 1�148.664 232,Zi1 Z4.22°k 596,167 t40,338 23.54°�G 91,873 t49,817 25.139G 82,394 2021 1,207,205 245,976 20.3B4fi 609,443 143,964 23.57'K 1d2,2i2 l53,645 25.1996 92,331 2022 t,Z63,962 259.098 ZO.S096 625,Q99 149,461 23.59y6 1] 1,637 157,525 23.20% 101,373 2023 1�23.438 17Z,649 20.ST�i 641 151,388 Z3.66'�6 121,261 161,716 25.219fi i1Q933 202A 1,386,741 286,3T5 20.65°K 654.334 134,427 23.60'K 131,948 164,897 25.207G 121.478 202.3 t,445.909 299,429 20.7iSi 863.SS3 156,731 33.6294 142,b98 167�14 ZS.2396 132,O1S 2026 1,491,724 3�,922 20.71°i6 6fl8.864 143�996 23.65% 164,926 i53�921 25.2896 155,001 2027 1.499,3% 307,833 20.533b 510,369 119,579 23A396 188,254 t31,981 25.8696 175,B52 2028 l,SS6.921 323��16 20.'T9°�6 517,652 126,243 2438'16 147,513 140.646 27.174�G 183,070 2029 i,S53,319 321�183 Z0.6796 40T,507 99,676 24.4696 221.807 111,B6i 27.459b 2I19,622 2030 t,569,247 330,964 21.069�6 318�OS8 85,144 28.7?'�LL 245�3?A 43�922 29.5396 236�542 ?A3l 1�39,104 384,084 23.19°Y6 329,40� 127.0'20 385�. 253�069 107,S19 32.fi495 272,570 2032 1,713,548 395,b00 23 09% 341,602 130,287 38.14�Yo 265,313 112,489 32.93°!0 2$3,l 11 2033 1,783.781 385,702 21.62'16 354,620 109,152 30.7890 276,SS0 116,174 32.769G 269.528 Tohl S,St4,617 3,1�6,348 Z,T18,2�9 3,120,573 T,,794,ON ToW P�+ereat V�lae 2,a24,38� 1,7l2,'t40 1,�331�46 1,767,31b 1�95'7,065 + Does not inolwk c�nhzbution W dro Dd'ined Contdl�tioa Plen. -(:lurest acdve polioa ot�ae continne to acaue bea��'its uada the aurent Plso, wixh ao ch��es ia b�eCt pmv�ians. - Puture �vv police ot�ca�a mta s Det3aod Co�Mttiaa Plan. Inves�att Retum Aaea�o�ptio�n 7.509�a gnndiRg Iv�edwd Entry A� Not�nal for Cwre�tt Plen; Propoeed Man reaui�s showa usiag Entry Age No�mai (current mctl�od) and Agg�e (propogad method) Sale�y Scale 6.0096 Pa' S^� Mptality Ase�unption RP-2000 with Proja�ted Martality Imp�enta No fature �-iavastment pins or bsses Preparad bY C3abriel. Roerkr� Smith and CumP�Y Novanba 28. 20l2 ORDINANCE NO. 1&12 AN ORDINANCE OF THE VILLAGE COUNCII. OF THE VILLAGE OF TEQUESTA, FLORIDA, AMENDIIYG THE VII.LAGE CaDE OF ORDINANCES AT CHAPTER 2. ADMINiSTRA1Z01� AT ARTTCLE IL VILLAGE COUNCIL, TO PROVIDE CLARIFYII�TG LANGUAGE AND INTERNAL CONSISTENCY; AT ARTICLE III. OFFICERS, EMPLOYEES AND DEPART1�iTS, TO CLOSE THE PUBLIC SAFETY PENSION PLAN TO 1�TEWLY HIRED PQLICE OFFICERS AFI'ER F�BRUARY 1, 2013 AND AMENDING EXHIBIT B ACCORDINGLY AND TO MAKE CERTAIN llWESTMENT CAANGES RECOMMENDED BY THE FUND'S iNVESTMENT MANAGER AND MONITOR, AND TO �'ROVIDE FOR VARIOUS VII.LAGE OFFICERS AND DEPARTMENTS; AT ARTICLE TV. CODE ENFORCEMENT, '�O REVI3E THE TERM OF EMPLOYMENT FOR TAE CODE ENFORCEMENT SPECIAL MAGISTRATE, AND TO UPDATE NOTICE REQUIREMENTS IN ACCORDANCE WITH STATE LAW; AND AT ARTICLE V. ELECTIONS, TO PROVIDE G LANGUAGE AND IIvTERA1AL CONSISTENCY AND TO rROViDE FOR THE FILLING OF A COUNCII, MEMBER ELECT VACANCY; �ROVIDING THAT EACH AND EVERY OTHER SEGTiON AND SUB,.SECTION OF CHAPTER 2. ADNIINISTRATION. SHALL REMAIIV IN FULL FORCE AND EFFECT AS PREYIOUSLY AD�UPTED; PROVID►ING A CONFLICTS CLAUSE, A . SEVERABILTI'Y CLAUSE AND AUTHORITY TO CQDIFY; PROVIDIPTG AN EFFECTIVE DATE; AND FOR OTHER PURP4SES. t� V'� Cwmcii of the Village of Teq�a �� am�d � Village Code of Ordinan� at Chapter 2. Adtninistration. to g�ra11Y p�+ovirl� �'lari�tion and i�1 oonsi�en�y thrw� tlus Chap�; an�d WHEREAS, the Village Couacil of the Village of Tequesta desires to �mend the Village Code of Ordinances at Chapter 2. Administ�ation. to provide for c�n Village o�cers, employees and departments; and WHEREA5 � Villa� Co�cil of tl�e Village of Teq� cl�res to � d1e Village Cock of Urdinances at Chap�er 2. Ac�ini�on t� c�se dre public safety pension plan to �vly hirod police officers af�er January 1, 2013, to make inv�nt chs�nges recwmmended by the fimd's manager and monitor, and t� amend Exhibit B(Public S�fety Officers Pension Tn�st Fund) accordingly; and WH�REAS, the Village Cour�il of the Village of Teq�ta desires to amend tl�e Village Cc�e of Ordinaaces at Chap�er 2. Adminis�ion. to �+evise ttre emplayment �;cm of tbe cflde Pa�e 1 of 1� enfor+cement special �ate, aad updatie aotice r� in �ccord�mce with state law; and R�HEREAS, the V'ill�ge Cou�il of the Village of Tequesta. des�s to �m4end the Village Code of Ordinences at Chapter 2. Adminis�atioa to �a+ovi� for t� filU�ng of a oouncil member eioct vacancy; and WHEREAS, the Village Caumcil of tl� Village of Teq�sta beliewes it to be in the best interests of the health, safe�y, and welfare of t� citizens of tl� Village of Tequesta that the Village �me�d its Chapter 2. Administiration, as stated herein. NUW, THEREFORE, BE IT OFDAINED BY TI� VII,LAGE �UNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, THAT: Section l: C�pter 2. Adminis�tion, of the Code of Ordin�nces of the Village uf Tequesta is hereby amended at Article II. Village Council, to provide ctarifying language and internal consistency; at Articic III. Officers, Employe�s aad Deparbments, to close t� Pubiic Safet�► P�ion Pl�an to �►ly hired police officers aft� Janusr�► 1, 2013, an�d �end Exhibit B (Public Saf+�y Officcis Pe�ion Tn�st Fund) acoo�+dinglY, a�d to provi� for v�rious Villa�e officers ammd d�ep�; at Artick N. C�de Enfon�t, to revise t�e t�m of employment for the code enforcement special magistrate, a� upda.te notice requiremerns in accordance wi� stabe law; and ai At�icle V. Elections, to gmvide clarifying language snd internal co�y, and to provide for the filling of a cour�il mem.ber eloct vacancy; p�oviding that Chapter 2. - Admiinistratiion. shall hereafter read as follows: Cla�r 2. AD�RATION ARTICLE L— liOARDS, CQIVIIYIIITEES AND CONIlI+�SSIONS [This Article shall remain in full foroe and effect as previously adoP�l ARTICLE II. — VII.I.AGE COUNCII. Sec. 2-31. - Elig',�,tn'L'_tY for of�ce. Sec. 2-32. - Spe�iat�. Sec 2-33� - Cam�il m�b�r se�ve on ptiblic safefi► n�on bo�d aar �a1 e�plov� pe,asion b�ard. s�. a-�. - v Page 2 of 10 Secs. 2-35-2-60. - R�erve�d. Sec. 2 31. - Eligibitit3► fer ofSce, In orde.r for any i�dividual to be eligible to � t]ie v7lage council, l� � must have tl�e qualiftcatians prescribed by �on 2.02 of die Ch�rber. Sec. 2-32. - Specis! (a} Call; notice; co�rte�s. Special � of the villa�e c�cil may be called at any time bX,� mavor or bv a�oritv of 1�e vi11a4e caounci_1: how►e�►er, at least tht+ee days' notice of swch seecial must be giv�n. St�h �tice may be by aa�ouacement at a regularly sch�d�uled village council mee°ting or may be in writing, sagned by the village manager or mayar. If notice is given by matl, it shall be mailed to the residence of e,�ch councilmember, a�d the nc�tice period s�aU begin on the date of mailing. T6�e contentts of tl�e natice shall be placed in a c�anspicnous place in the v�lage hall,, �cl sl�ail also be no�d on t� Vil�a¢e's ,, 'te. (b) Waiver of �tice. If a11 cou�cilme�nbers cv�si�er the mattes to be tak� up at the special me�ing to be urgent a� of sufficient imp�rtance to the welf�sre of the village, the th�ee days set forth in subeecti� (a) of this saction m�a.y be waived by the unanimous consent of all five cou�ilmembers. Swch waiver s1�a11 be in writing a�t shall be �ee�� t� minutes of the ' meeting. The notice shall still be placed in a oonspicuous pL�ce in tt�e village hA�1 a*+ ��► be no� - o�n t_hP_-�V'l l,�e_�wel�si�. (c) Limitc�ion on r�ic�i'atioa of business Tbe ixily ms�rs �o be co�sidec+ed at special msetangs s�all be #hose ma�ers set f� in tlye notice �ibed in sub�ction (a) of this sectian Sec. �33. - C�gcil �1� gerwa e� p�blic s�y � b�ar+d ar g�al employeea pension board. A membez of the village cou�cil may serve in an eac officio cap�city as a mexnber � e8 the Vill��e's public s�fety pension board or #�e general employee.s= pension bo�rd �e�i�ege �- �c. ?. 34. - V'il� lagos. [This Section �all remain in full foroe a�d effect as previousiy a�pted] Sec�. 2 35--2-G0. - Reaie�ved. ARTICLE IIL - OFFICERS, EMPLOYEES AND DE�ARTMENTS DIVISION l. – GRN�1tAi.�,y Sec. 2-61. - Pensi� t�t, firnds. Page 3 of 10 Secs. 2-62 2-80. - Reserved. Sec. 2-61. - Pe�on truat fbnds. (a) General e»�ployees The Village of Teq�sta hereby creat�es a� continues the C�1 Employees' P�sion Tn�st Fund f+or 1� �npose of pmovicling retirement, �th and disability ben�fits to m�nbers of the fund, certain frnmer general employees aad sinvivor benefits to be�eficiaries. (b) Pablic safety o,�icers Tt�e Village of Tequ�a he�eby creates �d continn�e.s the Village of Tequesta Public SafeZy Offic�rs' Pension Trnst Fu�d far the p�wse of Providing rebrement, death and disabiliiy benefits �a police offic�s and fir�gh#�rs who are members of tbis fimd, cenain �ornner village police officers and firefighters and sw�vivor benefits to beneficiarics. (c) ,P,��s hind �er Febr�v 1. 2013. '� V'I�L�e of Tec��uesta Pu�� . �ff'ic�rc' Pension T� F� Q�,ll bc closed to �nv new mlioe offic�rs hired Febn�rv 1. 2013. A1 �olice officet�s �me� aft� Feb�v 1_ 2013 shall h� offered the Editar's note— Ordinance No. 585, § 1, adopted December 11, 2403, set aut provisions intended for use as section 2-30. For purpoxs of classific,ation, aad at t� edito�'s discretion, t�se provisions have been included as seccion 2-61. Ord. No. 585 in�oorp�d Exhibits A�nd B as pant of this section ead is on file and availabk for pa�blic inspection in � offwe of t� village clerk. Ex��t B i�� tn eff� es�t [cl of this �ectiian in o��mction with tUis Sees. 2-62-2�. - Reaerved. DIVISION 2. - VILI.AGE MANAGER Sec. 2-81. – Villase _ Atrt�riri� d�,'u� �. 2-82. – V�� r�xk- A�itv � di�jes. Secs. 2�3 S� — 2-100. - Re�rved. Sec. 2-81. – vi�e Ma�: A�ty • . � C�ner ,�yill ansger shall ¢enerallY be vested with the a�uthoritv and d� a� for� i�. 3.03 of the V'il_l�e Charter. � The Village m�n�ager is awthorizod tu s,ign contiscts in the maximum amount of 525,000.� witlwut prior village co�mcil appmval. Se,� 2-82. – V�c Cl� At�r�v sd �s. Pa�e 4 of 18 �'�� 1$e V'1L1�*P Clerk Shal g� ilv be v,�wlth t�e a� _rt1+�tv � utipc s�c ce�t farth L�S. 3 of tl� V'�� Ch�rt�_ Secs. 2--� � -- 2-1�0. - Re�rved. DIVISION 3. - DEPARTMENT OF C011�MUMTY DEVEL4P�biENT S�c. 2-t41. - GY�eated; fi�,ctions. Sec. 2-IO2. - Supervision Secs. 2-103--2-�,04 �3Et - Reserved. Set. 2-101. - Creat�d; t�. f� There is hereby created a deQ�ur� of c�unity ckvelop�i� ��he de�ent of mnn' dev 1 t sh�L1 be resn�unsible for all nlanninQ �ct't�es L� V'ila�� i 1 inQ �otL-c� the COm� e Dl� � develou�eat re �tan�c_ In �,tion t� d�ea�rlment of communit�r develonment �� i�l� ��,�,orc�� all functions of the building ��- �c. 2-102. - �perv�ioa. � The d�t of munitv �ielo�ne�t shaLl be m�ed � o�e�ted bv s coz�mL�nitv develon�nent ��+ector who shall be aa annointiv� �minisbrati�,� �ointed bv the village mana�er. � � The depart�ne�rt of community develo�xner_'�,�,ncl �in tt.p co initv d�r -fo�t sl�ll be subject to �netal s+upenisi� and control by the village manage�'. Sec�. 2-103--2 � � - Reeerved D�,�,� FIRE RFS[_Ili'i. DFPAR7'MENT �. 2-1(�. - Ci+ea�ad: �ti�ns. Se�. 2�-1 . - Sunervim on. Se�cs_ �-107 2-108. - � � Th� is he�+ebv cm�ted a fit�e r�e de�nent � The fir+� �cc»P ��t � be wmnosed Qf �1� �ief of t� _d�enstim�t � c�� nn�! and emolovees as �av be stmoLnte� t�eretg bv the village msnseer. tn acoordance with Chsnter 34. Fire Protection and Preventio� ��fi� re� Page S of 10 i � -:� -- ---- - - - F.�_; i:�ii .Y . �.`� �i �l� i�� `i s rf� �. /�F'�� — - - - - � --- ---- --- - - � - ;]F`��'_�� ' �� X . � : i", i � � � �i � i �� i � i�- �l�F ;��t-`r �'� . �� - -- _ _ __ _-- -- = - . _ -- � - Ih+11Y� .-�i� ► ,' 1`� , � _ I�:li'��(�'IL _ 1 1 ►- 1 1--,- 1, - : A /1P` !_ ...- �-- 1 � 1 i 1 1 h 1'1 .'1 ', - -- 11 : '� i -� �'� .�� - -n� - .�I`, 1 � �1�. 1 .+7' I �Y� 1 _ _ ��fG... 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R..S ��'f�1� 5 i` �� :�u `� � �� /'b�'rf T. �`ii �Sr ii -- ,.� -- __-_ . . .------ --- ---- - -- - -- ;_:�. - -_� _ ----- - °_°-- - . i� h� s.� ; ii _ 7.`i ��'-'It /'�(�": 11 �. � s��i. 1(li�`: : � i i�� ": _ _ __ _ , _ --- -----; - - _— - _ _----- - - - 1:.'1 : 1_ 1'S�� . 1 1 1� :3i�'1�� 1 1 : 1. 1' 11 _�1 : 1 I�llllf:'IF!�1 _ ��7 l�� zi� ._.__-_._-__- __-__.-.-______-__ �I�I1''1r1F.�l, t l f ___ ' _____ ..__ .____-- . ___—_ ._'�.__ "_" _. __ - � ; li+St��.-.ir.": :%�'Y M � �' l�i:� ��V� _� v��c7e: ih' �`E -- _ _ -- -- -- --- - - --- . -- _�_, - -- - -- � t: ��Its .'��:- �11 I UI�' "� 1/ li�''; nti' j 1 �i �� i.`�1 1'�r,`�j _'1 r11". Ir''ll)il..'�r 1 �11I 2- 12. - R�rve�l_ Sec.�2-. 1'�.,�Ci+�ted-_ fuactin�s, �r. 2..114. – Su�vLQinn• flin�_ - -� - Secs. 2-115-2-130. - R�rved. Sec. 2-113. - ["reit�d: � �� nQ deo�*�*�±+ ar� �.,.�bv cre�_+� ��,�. 3.01 � 3.05 of th� V� ii Humgn Reso�mc�s iii. Parks.,� Rec.�an i�� Works v. Wat,�r Plant Mnna�er � � The f' �tiona of each q f tt,P ��ntc eh911 be estal�li� ��A*+t *a Sec. 3.05 of the V'l�a� ��,�arre''- and m�v be amended or revi�d,fmm time te ti� � The V'Ll�e Co��l mAv_ frnm ti_me ti�e. creatP ad��1 d��rtmea� or abo ' dPna�m�ntc �nv�ar�t �n thp ��rt _ hnritv �mvided in_ � 3 05 0� 1i�t V��'11sFe C� � 2-114. .- �..�.►:.i�■:� � �eD�l'tmCLtS ��1 L �. 2-113 a �*il o�.Y � �IDCNI� �. �� tfV' 'L1s� vill�e ma�� who c1� a� �a�oint d�t heads to be dircctiv resoon�ible for the oneratiiion of tt�ir�ge deo�*�+e�t. �i11 deoat�nt �ffin� shall be st the discretion of t� vill�ae man��. S�. Z-115 --.2-1 � - B�e�l. ARTICLE IV. - CODE EIWFORCEMENT DIVISION 1. GENERALLY [This Divisioa shall remain in full force and effect as �viouslY �P�� DIVISION 2. – S�'ECIAI.. AfiAG�.STRATE Sec. 2-151. -��: tetm: qualific�Rions, S�c. 2-152. - Dubies: he�arings: clenical and adnninisbrative t�l• Sec. 2-153. - Pre.se�tation of c�ses bv village�y Page 7 of 1� Sec. 2-154. - Juri�dictioa Sea. 2-155--2-1$(!. - �val. Se� 2-151. - Desiga��ev; �: qaa�a�tio�s. (a) There is hereby established a spccial magistrate who shall be �esi�e� by the village council. � f e� Zhe special ma�istrate shall be an attorney aad � member of the Florida. Bar � �od�& �{� The special ma�st�ate shall se�ves at t�e di�on �md by appointment of the vill�ge c�oancil and may be rdm�ved from such position with or withart cau�e �i 'lv��a1_��v��. Se�. 2-152 - 2-154 shalt r�� ia f�ll force � effect as previou�y sdapted.] Secs. Z-I55-2-1�D. - Re�erved. DIVISION 3. - �NFORCEMENT PROCEDURE (Sea. 2-181- �19� �� t� � fail far�e �ad c�eet s� pi'�viv�' �daP�ed.] Sec 2-191. - Nntioes. (a) All notices required by tlus division sball be provided to the alleged violator by: {1) Certified mail the address listed in the tax c;oll�s office for tax notices, �� aay ot�er �dress provid+ed to �e local gbvanment by �� owner in writinQ for t� nurnose of receivin� �ti . For q �,� bv a c�roor:�tio� notices mav be �rrovided bvi cert�fiecl meil t� �he�ree�.� t of s ccnooratian. Tf anv nntir.� �r bvi ce.�tied mai is aot �� as received ' in thirlv (301 davs at�r the date - � otice may be provided by posting as descxibed in subseclion (bx2) of this secti ��-+��ee�ov�ea�-��-a-}�e�--e��e,�ee�e€-�g-� ; (ax2) -(ax4) {Shall rexn�ain the s�ne as previously � {b) -(c) (Stiall re�usin the s� as P�Y �F�) [Secs. 2-192 - 2-2Q3 sbsll remaia ia f�l1 forrx asd effcet aa p�► sduP�ed.� Se.�. 2-204 - Z 23�. Re�vv�. Page 8 of lg �xTtci.E v. - E�cTTOrrs DIVISION 1. - G�• i•i Y Sec. 2 231. –��la¢e elections: early votin¢. Sec�. 2-232-2-250. - Rese�ved Se� 2-?.31. – Villa� dect�s� �arty v�g. Tl� maoner of voting in all V'illaQe of Teau� Afi ' El�ti� �� shall be the same as is provided by th� county for voting in county aad state elec�ions, unle.ss otherwise provided by the village council. The Village of T�uesta hereby exercises its right to exempt itself from die provisions of F.S. § 101.657, a�d s�ll �t oonduct e�ly v�oting for tl� Village of Tequ�a Municipal Ele�tions. Sccs. 2-132-2-2S�. - Reservead. DIVISION 2. – PERSONNEL [This I}ivision shall remain in full force and effect as previouslY �l D1Vi.SION 3. – CANDIDATES Sec. 2-271. - Qualifvin�[ o�iod. Sec. 2-272. - F'ili� fee. Sec. 2-273. - V in candidacv. �e�. 2-274_ – Vacancv between,e�� office. [Secs. 2-2'�l – 2 273 sLall re�sia ia fall farce �d eBect s� previo�l�' ad�P�l Scc. 2 274. - Vacaecv hr.i�v�e.l �e�ia� �ad �� 1n t� eve.�t of a vac�cv caused bv,� d�th. or forf� Qf �ffis��i� occurs snbsea� to an election ��aefore t� c�oux�cil member elect takes the u�ath of �#�ic� � rea�i _ bv ec. 2.03 t�V'11 e�hart�r. then such v,aeanev shall be filLed. in sccordat�es with the nrnce�.�= f h�t �c, 2.05 of the V'119�� ' 2: Each a�d every other Section and Subsection of Chapter 2. Adminis�ion. slmll �in in fiill fome an,d �ffe�t as p�ly adoP�ed- Page 9 of 19 _ oa : All ord,inances ar parts of ordinanoes in conflict be a�d tbe s�.e are hereby repealed. Secti� 4: Shouid any secction or pmvisi� of this 4rdinance ar auy porcion thereof, �Y P�Ph, �oe or w�d be �c�d by a oaurt of oompe�e�t jurisd�on t�o be invalid, s�rch d�ecision s�all not a�ect t�e validity of tl� nem�ainder of this Ordin�ce. S�' 5: Specific autl�ority is �by granted to oodify this �oe. 'on : This Ordinance s�all take effect imm�ediat�lY upon passa8e- Page 10 of 10 AMENDED ITEM �� Gabriel Roed'er Smith-& Company �n�.��est Braward�31a'd. 954.52ZlCilfi phone Gcznsultanrs&�.�ctuarieti Suite 505 954:525.OD83 fax Ft_C�au�ierdale,FL 33301-1${14 wv��w.�ahrielraedeeeom r��y x, �ai 3 r�s..r�ay Fo�yr�� Fina�ce I)ir�ctor V illai;e o#'T�uesta 345 Tequ�la I?r. 'Tequesta,FT. 33469-Q�73 Re; V�#lage of Teqaests Fublic Safety uff"�ccrs'Pe�si�n Trust Fun�1 Dear 3cady: As you l�ow recent amencitnents to Chapters 175 and 185,Florida Statutes r�uine retirernent plans co�ering fcrefi�hters or police officers in Florida to allow retir�s tu change joirzt annuitants or beneficiaries up to two #imes after benefits have cammenced. The ehanges rnust be pecmitted without requiring proof of gond health of the joint atinuitant or beneficiary laeing retnoved,and the joint annuifant ar bene�ciary n�ed nat be living. 1f the retirce's joint annuitant b�om�te�mminal3y ill,the retires could make a char��;e tQ name a healthy joint ann�itant. This is comrnonly referrecl to as anti-selcctian. This change would increase the liability of the plan unless the shorier expected lifetime of the first joint annuitar►t is taken into ac�:ount when calculating the amc��nt af fhe new joint and survivor pensican. As requested,we are providing yau with aur t�piniqn on the l�vel af pmtection from anti-seler.tion thc� Pensicrn Plan would receive based on khe ianguage in the praposed amendtnent_ The propc�sed amendment states tlaat the joint gensioner or beneficiary being remaved will be assumed to be deceased by tl�e actuary in detennining the actuarially eyuivalent arrn�unt�f the revisec!rnonthty payme�t. This assumgtion will�ie made regardtess of whet.her or no#a cer�ificate of good h�;alth for the aurrent beneficiary is praduced. In our rspinion this provides ki�e Plan_wi#h the highesi I�vel of protection against anti-sele�tian. �xhibit l shows variaus tevels of protecti�n a Plan can be given a�nst anti-sele�tian assuming a me�nber has sele.et+ed a SQ%joint and contingent annuity. Under this�ptiorial faem of payment,upon th+e mernber's death the beneficiary,if living at the time,will receive SU°!e of t'he original beneftt a�mount. Vf1e l�ave shown three differe►zt patentiaf adjusimenis to the curnent beneficiary's age tu protect the Pla�agains�anti-selection. 1`he more the a�e c,f the currc:nt b�neficiary is inct�ased the grea#er protection the Plan is given against azrti- sel�cti c�n. F.xhibit 2 shc�ws various lev�ls nf pmt�ction a Plan can be given a�ainst anii-seleetian assuming a mernb+e�' has set�teci a 50°lo joint and san+ivor annuity. lJnder tk�is aptional form Qf payment,upan the member's d�th or ihe t�eneficiary's death the survivor will re�eive 5Q'0lo of the original benefit ameunt. If tbe cture�t benericiary is assumed te�be deceased,the bene�t will first be roduced by 50°lo and t��r►the beneft will be adjusted tu account for the age of the new beneficiary. We have shown three different pQtential adjustments to the curren#bene�ciary's age to protect the Plan against anti-sele�ct'ran. Again;the mar+e ihe age of the current beneficiary is increased the greater protectiQn the Plan is given against anti-sel�ction. Exhibit 3 is tlae same as Exhibit 2 but shows various�evels of prr�tection a Plan can be given against anti- setectic�n assuming a mernber has sele,cted a 1�0%joint and survivor annuity, Ms.Jc�dy Forsythe January 8,20l 3 Page 2 We wel�ome yaur questions and camments. Sincerely yours, �� f y Amrose,EA Senior Cansultant and Actuary JSA/ta Enclosures cac: Bonni 3ensen I3i�cie Mac�inez Gabriel Roe�er 5mith & Company r�n�n�t r Ct�ge in BE�cisryCalcalati� �1lustrations of Anti�Selecli�wuder t�e SA`� Jofatani3C�bi�gast I�arm�'Payoicnt t1i:xEm�eie��-----IR�F!I i3f�Pb[CClIOII A;11�t15E.�[Itl-SC�fCIiOA-�--�------�='4i•s�irm�nt Paae�tisl.�nstme��s fe►r�►►nt�-Selection NoAdjnst�nerrt Incrense Seneticiar�incre�e�eneficisry Assurne Current f�Anii-Seicetiw� .Age by 5 Ye:rs Age by 10 Years �eneficie�yis l}eceased �iisic Data Partic�snt Age SO St) 5(f �1 Orig�al Benefic'rary A�e 50 St1 5[} SU New Hcxieficiary Age 441 4i) M1 �[f Benefit Arnount S2,SE10 $�504 $2,S(10 S�,SW 50'/o Jo�t and SU°!o Joint and S�°Io.�Q1Ilt BIIf� �°�0 7oint assd Fprm of!'ayment Contingent Annuity Contiage�t Mnu�y Contingent Aanuity Conta�,ent Annutty P�.sent Value ofCtimnt Bc.•nefit Factar I l.6343 l l.5390 l 1.4�l3 l t.t}449 I'zesent Value $349,029 �46,170 �i43,7,351 $331,497 Prescnt Value of New Benefit Factor 11.T967 i 1.7467 11.T967 t 1.'79h7 New Mnnth�y Bene6t Amnun# S2,4b6 $2,A45 $2,425 $2,342 Reciucfiun in Me�nihly Benefit Due to Pkn Prole�t'tng Against Ant%sc�:ctian $0 $2l �1 �1�� Gabrie!Roeder Smith 8►. Company Eal�fit 2 CLaage in Beoeficiary C�lcutaqon Illustratians of Anti-Selectian u�der the 50°lo Joint��d Survivor Fordn of Payment �Tinen�am'------------�,��t•ettif 1'rc�ieclini�sr�;ainst.1nti—Selerti�)n----,—°-------�M1t�ki�un� Poteptist!Adjasta�cata for Ar�t13-5�electio� N�Adjas#�est increase B�teftciary iecre�B+taettcisry Assunne Casrent for A�ti-Selectio� :�ge by S Y�rs Age by i�Ye�rs Beat�tiefitry is Uecessed Basic pata �'ar�icip,attk Age 50 50 50 50 Uri�inal Cienefiniary A�t 50 SO 50 50 New�encfs�ciary Agc 4p �10 40 44 Senefit Amount �2;540 S2,SQ0 $2;5(�t $2,SF10 SU°1a Jc31Itf 8I1C1 S�°ta 3nint and 50°fa Joim arid 50°f�3oint arsd Form c�f Payment Survivor Annuity Survivor Annuity Surviwar Ar►nuity Survivor Annuity Present Value of Current Benefit F ac.`toc 11.3967 1 I.1bt10 1 Q:8473 S.52S0 Preaent Value g341.901 $334;8W $325,419 $165;750 Prexnt Value of New BerteRt Factar 11.7050 11.7050 (1.7Q5� 11.7USA New Manthiy�enefit Amaant S2,A34 �2,38A �2,327 $1,180 Reduction in Monthly Beneiit 13ue to Plan Pratecling Again�t Artti-selecti4n $(1 �50 �l 17 $1.2�4 *r��`le�ts reduc'I1lJTt 1)1 h�'TtC�L�illf��l7f f�ll�,'l!J LfEQ�J1 O�C#C!'�►F IJEIl�C1tlIV Gabrie}R�eder_Srni�h t�Company Exhib�t 3 Cbgnge in Beneficisry Calcnlatioa I1lestrations of Anti-.5electian pnder t�e iO4`!.aoiat$nd Survivor Form otPayment ?biiniaiuue---- 1.rr�eI otProicxtice��sinst.�iati-Seirctiun----------->�i�x9ntus� Petenf�al Ad nst�eats for Anii-�Seteetiv� No Adjastmcnt Iacrea�e�efidary [�crease B�nefiei�ry Ass�e G'�rrent for Aet3�5eledioe Age�y S Yeus .tge by 14 Years Se�etaciary 9s Decca�c+d 13asic Data Participant Age 50 50 5(1 54 OriginaE Bexteficiary Age 50 54 54 SQ New Betecficiary Age 4U 4U 40 `� Benefit Amaunt $2,SW S2,SUU $2,SOU SZ,SOD 1 W%loint and 100°/a Jc►int and latl°fa Joint and 1QO�k]oint anci Fo�m of Payme�t 5utvivor Annuity S�u�+ivor Mnuity 5vnrii+or Annuity Sur►�ivar Annuity Pre�ent Value of Cyrrent Dcnefit Factor 12.2186 12.Q28U t 1.8327 11.(u#99 Present Value $366,558 �3G0.840 $354,981 $33i,497 Pres�nt Value pf New Benefic r actpr 12.5435 12.5435 12.5435 12.5435 New Monlhly Benefit Amount $2 43S $2,397 $2,358 $2,2.U2 ReductioR in Monthly Seneiit Due to Plan Protecting Against Anti-seiection $0 �38 $77 $233 *reJlec�s reduclion in bene,fit crnwr�rrt dite to deaih of curreitl ber+e}fciary Gahriel Raedcc Smith& Cvmpany ORDINANCE NO. 1&12 AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA, AMENDING THE �.LAGE CODE OF ORDINANCES AT CHAPTER 2. ADNIIIVISTRATION. AT ARTICLE II. VILLAGE COUNCIL, TO PROVIDE CLARIFYING LANGUAGE AND INTERNAL CONSISTENCY; AT ARTICLE III. OFFICERS, EMPLOYEES AND DEPARTMENTS, TO CLOSE THE PUBLIC SAFETY FENSION PLAN TO NEWLY HIRED POLICE OFFICERS AFTER FEBRUARY 1,2013 AND AMENDING EI�IIBiT B ACCORDINGLY AND TO MAKE CERTAIN 1NVESTMENT CHANGES RECOMNIENDED BY THE FUND'S INVESTMENT MANAGER AND MOlYITOR, AND TO PROVIDE FOR VARIOUS VILLAGE OFFICERS AND DEPARTMENTS; AT ARTICLE IV. CODE ENFORCEMENT, TO REVISE THE TERM OF EMPLOYMENT FOR THE CODE ENFORCEMENT SPECIAL MAGISTRATE, AND TO UPDATE NOTICE REQUIREMENTS IN ACCORDANCE WITH STATE LAW; AND AT ARTICLE V. ELECTI4NS, TO PROVIDE CLARIFYING LANGUAGE AND INTERN.AL CONSISTENCY AND TO PROVIDE FOR THE FILLING OF A COUNCIL MEMBER ELECT VACANCY; PROVIDING THAT EACH AND EVERY OTHER SECTION AND SUBSECTION OF CHAPTER 2. ADMINISTRATION. SHALL REMAIN tN FULL FORCE AND EFFECT AS PREVIOUSLY ADOPTED; PROVIDING A CONFLICTS CLAUSE, A SEVER�iBILITY CLAUSE AND AUTHORITY TO CODIFY; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES. WI�REAS,the Village Council of the Village of Tequesta desires to amend the Village Code of Ordinances at Chapter 2. Administration. to generally provide clarification and intemal consistency throughout this Chapter;and WHEREAS,the Village Council of the Village of Tequesta desires to amend the Village Code of Ordinances at Chapter 2. Administration. to provide for certain Village officers, employees and departnients; and WI�REAS,the Village Council of the Village of Tequesta desires to amend the Village. Code of Ordinances at Chapter 2. Administration. to close the public safety pension plan to newly hired police officers after January 1, 2013, to make investment changes recommended by the fund's manager and monitor, and to amend E�ibit B (Public Safety Officers Pension Trust Fund)accordingly; and VVHEREAS,the Village Council of the Village of Tequesta desires to atnend the Village Code of Ordinances at Chapter 2. Administration. to revise the employment term of the code Page 1 of 10 enforcement special magistrate, and update notice requirements in accordance with state law; and WI�REAS,the Village Council of the Village of Tequesta desires to amend the Village Code of Ordinances at Chapter 2. Administration. to pmvide for the filling of a council member elect vacancy; and WHEREAS, the Village Council of the Village of Tequesta believes it to be in the best interests of the health, safety, and welfare of the citizens of the Village of Tequesta that the Village amend its Chapter 2. Administration, as stated herein. NOW, TI-�REFORE, BE IT ORDAINED BY TI� VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA,FLORIDA,THAT: Section 1: Chapter �. Administration. of the Code of Ordinances of the Village of Tequesta is hereby amended at Article II. Village Council, to provide clarifying language and internal consistency; at Article III. Officers, Employees and Departments, to close the Public Safety Pension Plan to newly hired police officers after January 1, 2013, and amend Exhibit B (Public Safety Officers Pension Trust Fund) accordingly, and to provide for various Village officers and departments; at Article IV. Code Enforcement,to revise the term of employment for the code enforcement special magistrate, and update notice requirements in aecordance with state law; and at Article V. Elections, to provide clarifying language and internal consistency, and to provide for the filling of a council member elect vacancy; providing that Chapter 2. Administration. sha11 hereafter read as follows: Chapter 2. ADMINISTRATION ARTICLE I.—BOARDS,COMNIITTEES AND COMNIISSIONS [This Article shall remain in fu11 force and effect as previously adopted] ARTICLE II.—VILLAGE COUNCIL Sec. 2-31. -Eligibility for office. See. 2-32. - Special meetin�s. Sec. 2-33. - Council member serve on public safety pension board or �eneral emplovees pension board. Sec. 2-34. -Village lo�os. Page 2 of 10 Secs. 2-35-2-60. -Reserved. Sec.2-31.-Eligibility for office. In order for any individual to be eligible to es��on the village council, he or she must ha.ve the qualifications prescribed by section 2.02 of the Charter. Sec.2-32.-Special meetings. (a) Call; notice; contents. S�cial meetings of the village council may be called at any time v the mavor or bv a maioritv of the villaee council;however,at least three days' notice of such snecial meetin� must be given. Such notice may be by announcement at a regularly scheduled village council meeting or may be in writing, signed by the village manager or mayor. If notice is given by mail, it shall be mailed to the residence of each councilmember, and the notice period shall begin on the date of mailing. The contents of the notice sha11 be placed in a conspicuous place in the village hall,and shall also be nosted on the Village's website. (b) Waiver of notice. If all councilmembers consider the matter to be taken up at the special meeting to be urgent and of sufficient importance to the welfare of the village, the three days set forth in subsection (a) of this section may be waived by the unanimous consent of all five councilmembers. Such waiver sha11 be in writing and shall be a�pended to sp�ead-�pe�the minutes of the s eci meeting. The notice sha11 still be placed in a conspicuous place in the village ha11. and shall also be nosted on the Villa�e's website. (c) Limitation on consideration of business. The only matters to be considered at special meetings sha11 be those matters set forth in the notice described in subsection (a) of this section. Sec. 2-33. - Council member � se�e on public safety pension board or general employees pension board. A member of the village council may serve in an ex officio capacity as a member of e� the Vil e's public safety pension board or#�e general employees'pension board��+�°�'�"°rt° s€�e�aes�a. Sec.2-34. -Village logos. [This Section shall remain in full force and effect as previously adopted] Secs. 2-35---2-60. -Reserved. ARTICLE III. -OFFICERS,EMPLpYEES AND DEPARTMENTS DIVISION 1.–GENERALLY Sec. 2-61. -Pension trust funds. Page 3 of 10 Secs. 2-62-2-80. -Reserved. Sec.2-61.-Pension trust funds. (a) General employees. The Village of Tequesta hereby creates and continues the General Employees' Pension Trust Fund for the purpose of providing retirement, death and disability benefits to members of the fund, certain former general employees and survivor benefits to beneficiaries. (b) Public safety o�cers. The Village of Tequesta hereby creates and continues the Village of Tequesta Public Safety Officers' Pension Trust Fund for the purpose of providing retirement, death and disability benefits to police officers and firefighters who are members of this fund, certain former village police officers and firefighters and survivor benefits to beneficiaries. (cl Podice Officers hired after Februarv 1. 2013. The Village of Teauesta Public Safetv Officers' Pension Trust Fund shall be closed to anv new nolice officers hired after Februarv 1, 2013. All nolice officers hired after Februarv 1.2013 shall be offered the opnortu.nitv to narticinate in a defined contribution nro�ram. Editor's t�ote— Ordinance No. 585, § 1, adopted December 11, 2003, set out provisions intended for use as section 2-30. For purposes of classification, and at the editor's discretion, these provisions have been included as section 2-61. Ord. No. 585 incorporated Exhibits A and B as part of this section and is on file and available for public inspection in the office of the village clerk. �ibit B is amended to effectuate nart lcl of this section in coniunction with thi or ' . Secs.2-62-2-80.-Reserved. DIVISION 2. -VILLAGE MANAGER A _ VIL A E CLFIZK Sec. 2-81.–Villa�e Mana�er:Authority and duties Sec. 2-82.–Villase Clerk. Authoritv and duties. Secs. 2-83 S�—2-100. -Reserved. Sec.2-81.–�illa ,e Manager: Authority and duties . � Generaldv The Villaee Mana�er shal_1 �enerallv be vested with the authoritv and duties as set forth in Sec. 3.03 of the Villa�e Charter. b� Contracts. The Village manager is authorized to sign contracts in the maximum amount of$25,000.00 without prior village council approval. Sec.2-82.–Vill��e Clerk:Authoritv and duties. Page 4 of 10 Generallu The Villa�e Cl k shall �enerallv be vested with the authoritv and duties as set forth in Sec. 3.04 of the Villa�e Charter. Secs.2-$�8�—2-100.-Reserved. DIVISION 3.-D�PARTMENT OF COMMUNITY DEVELOPMENT Sec. 2-101. -Created; functions. Sec. 2-102. - Sunervision. Secs. 2-103-2-�44�9. -Reserved. Sec.2-101. -Created; functions. .�a There is hereby created a department of community developments b� T'he denartment of communitv develonment sha11 be resnonsible for all nlannin� activities in the Villaee. includin� annexa 'ons. the comnrehensive nlan and land develonment regulations. In addition. the denartnient of communitv develot�ment sha11 include and incaruorate all functions of the building , department. Sec. 2-102.- Supervision. � The denartment of communitv develonment shall be mana.ged and o�era.ted bv a communitv develonment director who shall be an annoinrive administrative official annointed bv the villa.�e mana�er. � The department of community development� including the communitv develo�ment ire t r sha11 be subject to general supervision and control by the village manager. Secs. 2-103-2-1444�-3A.-Reserved. DIVISION 4.–FIItF RFSCLIF.DEP�RTMENT ec. 2-105. -Created: functions. S c. 2-106. - Sunervision. Secs. 2-107-2-108. -Reserved. Sec.2-105. -(;reated: functions. �a There is herebv created a fire rescue denartment. b� The fire rescue denartment shall be comnosed of the chief of the denartment and such other nersonnel and emnlovees as mav be annointed thereto bv the villaee mana�er. In accordance with Chanter 34 Fire Protection and Prevention the fire rescue Page 5 of 10 d ent shall be resnonsible for all fire rescue activities within the Village and anv adiacent areas nursuant to interlocal a�reement.if anv. Sec.2-106. - Sunervision. � T'he fire rescue denartment sha11 be mana�ed and onerated bv a chief.who shall be an annointive administrative official annointed bv the villa�e ma.nager. The chief sha11 ve control and sunervision of a11 the matters relatin� to the fire rescue denartment. The chief shall have the custodv and control of all annaratus. machinerv. or other paranhernalia of the fire rescue denartrnent and sha11 ha.ve the nower to use and cause to be nut in service all or anv nart of the annaratus belon�ine to the fire rescue department. � The fire rescue denartment, includine the fire chief. sha11 be subiect to �eneral sunervision and control bv the village mana.�er. Secs.2-107 2-108.-Reserved. DIVISION 5.Pni ICF DEP�1tTMFN� Sec. 2-109. -Created: functions. Sec. 2-110. - Sunervision. Secs. 2-111 2-112. -Reserved. ec.2-109.-Created: functions. �a There is herebv created a nolice de�artrnent. � The nolice denartment shall be comnosed of the chief of the de}�artrnent and such other nersonnel and emnlovees as mav be annointed thereto bv the village mana e�r. n accordance with Chanter 42. Law Enforcement and a11 an�licable sta.te law. the nalice denartment shall be resnonsible for all law enforcement activities within the Villa�e. and within anv adiacent areas nursuant to interlocal and/or mutual aid a.ereements. if anv. Sec.2-110. -Sn�ervision. �a1 e nolice denartment sha.11 be mana�ed and onerated bv a chief. who sha11 be a.n �nnointive administrative official avnointed by the villa�e mana.�er. The chief shall have control and sunervision of all the matters relatin�to the nolice denartment. The chief shall have the custodv and control of all annaratus. maclunerv. or other nara.nhernalia of the uolice denartment and shall have the nower to use and cause to be nut in service all or anv nart of the anDaratus belon�ing to the nolice denartrnent. b� e nolice dena�Iment includin� the nolice chief, sha11 _b_e subiect to �eneral sunervision and control bv the villa�e mana�er. Page6of10 ��cs.2-111 2-ll2. -Reserved. Di_VIS�ON 6. OTHER DFPARTMEEIVTS �ec. 2-113.–Created: functions. � Sec. 2-114.–Suuervision: staffins. Secs. 2-115-2-130. -Reserved. Sec.2-113. -Created; functions. �a The followine denartments are herebv created nursuant to Sec. 3.01 and 3.05 of the Villa�e Charter: i. Finance ii Human Resources i�i. Parks,&Recreation iv. Public Works v. Water Plant Mana�er � The functions of each of the above denartments shall be esta.blished nursuant to Sec. .OS of the Villa�e Charter, and mav be amended or revised from time to time. �c The Village Council mav from time to time.create additional denartments. or abolish denartments nursuant to the authoritv nrovided in Sec. 3.05 of the Villa�e Charter. ec.2-114.–Sunervision:staff'ing. The denartments listed in Sec. 2-113 sha11 �enerallv be sunervised and directed bv the villa�e mana�er, who sha11 also annoint denartment heads to be directiv resnonsible for the o era.tion of their resnective denartxnents. All denartment staffin�sha11 be at the discretion of the villaee mana�er. �cs.�-11�2-130.-Reserved. ARTICLE IV. -CODE ENFORCEMENT DIVISION 1. GENERALLY [This Division shall remain in full force and efFect as previously adopted] DIVISION 2.–SPECIAL MAGISTRATE Sec.2-151. -Desi�nation;term; qualifications. Sec. 2-152. -Duties;hearings;clerical and administrative personnel. Sec. 2-153. -Presentation of cases bv village attorney. Page 7 of 10 Sec. 2-154. -Jurisdiction. Secs. 2-155-2-180. -Reserved. Sec.2-151. -Designation; term; qualifications. (a) There is hereby established a special magistrate who shall be retained �es}g�a� by the village council ' an indenendent contractor canacitv. ��} The special magistrate shall be an attorney and a member of the Florida Bar in �ood standin�. c�{-�} The special magistrate sha11 serves at the discretion and by appointment of the village council and may be removed from such position with or without ca.use t e villaee council at anv time. Secs.2-152–2-154 shall rem�in in full force and effect�s previously adopt�.) �.2-155-2-18Q.-Reserv�d. DIVISION 3. -ENFORCEMENT PROCEDURE [Secs.2-181 –2-190 shall remain in full force and effect as previously adopted.] Sec. 2-191.-Notices. (a)Ali notices required by this division shall be provided to the a.11eged violator by: (1) Certified mail t , .,�.�°�+;�� +� *�,° ^ ° ��*�.° � �°-�, ; ,°�-'�^� °+ the address listed in the tax collector's office for tax notices,� r�2 any other address provided to the Iocal governxnent by s�the ro owner in writin� for the nuroose of receiving notices. For nronertv owned bv a cornoration.notices mav be nrovided bvi certified mail to the re�istered a�ent of the corooration. If anv notice sent bvi certified mail is not simed as received within thirtv (301 davs after the date of ' ' , �a M°�•-�°-' �'��°a �°��°a, notice may be provided by posting as described in subsection (b)(2) of this section �„a k•� ��* �'��° m°;' a;r°^*°�' +„ t�,n ,,a,:,.�� ; (a)(2)–(a)(4) (Shall remain the same as previously adopted) (b)–(c) (Shall remain the same as previously adopted) [Secs. 2-192–2-203 shall remain in full force and effect as previously adopted.] Secs. 2-204–2-230.Reserv�. Page 8 of 10 ARTICLE V.–ELECTIONS DIVISION 1.-GENERALLY Sec. 2-231.–Villa�e elections:early voting: Secs. 2-232-2-250. -Reserved. Sec.2-231.–Yilla�e elections: early voting. The manner of voting in all Villa�e of Teauesta Municinal Elections�e�r-eles�ie�s shall be the same as is provided by the counry for voting in county and state elections, unless otherwise provided by the village council. The Village of Tequesta.hereby exercises its right to exempt itself from the pmvisions of F.S. § 101.657, and shall not conduct early voting for the Village of Tequesta.Municipal Elections. Secs.2-232--2-250.-Reserved. DIVISION 2.–PERSONNEL [This Division shall remain in full farce and effect as previously adopted] DIVISION 3.–CANDIDATES Sec. 2-27L -Qualifyin eriod. Sec. 2-272. -Filing fee• Sec. 2-273. -Vaeancy in candidac� Sec. 2-274.–Vacancv between election and ta.kin�office. (Secs.2-271 –2-273 shall remain in full force and effect as previously adopted.] ec.2-274.-Vacancv between election and takin�office. the event of a vacancv caused bv resiQnatio� death. or forfeiture of office whic�i occurs subseauent to an election but before the council member elect takes the oath of office reauired bv Sec. 2 03 of the Villa�e Charter then such vacancv sha11 be filled in accordance with the nrocedures set forth at Sec. 2.05 of the Villa�e Charter SecNon 2: Each and every other Section and Subsection of Chapter 2. Administration. shall remain in full force and effect as previously adopted. Page 9 of 10 Section 3: All ordi.nances or parts of ordina.nces in conflict be and the same are hereby repealed. Section 4: Should any section or provision of this Ordinance or any portion thereof, any paragraph, sentence or word be declared by a court of com�tent jurisdiction to be invalid, such decision shall not affect the validity of the remainder of this Ordinance. Section 5: Specific authority is hereby granted to codify this Ordinance. Section 6: This Ordinance shall take effect immediately upon passage. Page 10 of 10 EXHIBIT "B" VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUND T�LE OF CONTENTS Section 1. Creation of Pension Trust Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -1- Section 2. Definitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -1- Section 3. Membership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -4- Section 4. Board of Trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -5- Section 5. Finance And Fund Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -8- Section 6. Contributions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -13- Section 7. Benefit Amounts and Eligibility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -14- Section 8. Pre-retirement Death. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -16- Section 9. Disability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -16- Section 10. Monthly Supplemental Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -19- Section 11. Vesting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -19- Section 12. Optional Forms of Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -19- Section 13. Benefiaaries- - • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -22- Section 14. Deferred Retirement Option Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . -22- Section 15. Claims Procedures Before the Board Decision. . . . . . . . . . . . . . . . . . -24- Section 16. Reports to Division of Retirement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . -26- Section 17. Roster of Retirees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -27- Section 18. Board Attomey and Professionals. . . . . . . . . . . . . . . . . . . . . . . . . . . . -27- Section 19. Maximum Pension. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -28- Section 20. Commencement of Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -28- Section 21. Distribution of Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -29- Section 22. Miscellaneous Provision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -30- Section 23. Repeal or Termination of System. . . . . . . . . . . . . . . . . . . . . . . . . . . . . -31- Section 24. Exemption from Execution, Non-assignability. . . . . . . . . . . . . . . . . . . -33- Section 25. Pension Validity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -33- Section 26. ForFeiture of Pension. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -33- Section 27. Military Sen►ice Prior to Employment. . . . . . . . . . . . . . . . . . . . . . . . . . -35- EXHIBIT "B„ VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS' PENSlON TRUST FUPID Section 1. Creation of Pension Trust Fund. The Village of Tequesta hereby creates and continues the Village of Tequesta Public Safety Officers' Pension Trust Fund for the purpose of providing retirement, death and disability benefits to Police Officers and Firefighters who are Members of this Fund, certain former Village Police O�cers and Firefighters and survivor benefits to beneficiaries. Effective Februarv 1. 2013, the plan is closed to new Police Officer members. All Police Officers hired after Februarv 1, 2013 shall be offered the o�uortunitv to partici�ate in the Villaue's new defined contribution �roctram. There is no chanae to the uension benefits for Police Officers hired before Februarv 1, 2013. Additionallv. the plan for the Firefiahters remains unchanaed in anv wav. Firefiahters hired after Februarv 1, 2013 will continue to be mandatory aarticipants in this de�ned benefit ulan. Section 2. Definitions. 1. Statement of Definitions. As used herein, unless otherwise defined or required by the context, the following words and phrases shall have the meaning indicated: Accumulated Contributions means a Member's own contributions without interest. Actuarial Equivalent means a benefit or amount of equal value, based upon the mortality tables utilized by tfie Board's actuary or actuaries, and an 8% rate of interest. Average Final Compensation shall mean one-twelfth (1/12) of the average salary of the five (5) best years of the last ten (10) years of credited service prior to retirement, termination, or death or the career average as a full time Firefighter or Police Officer, vvt�ichever is greater. A year shall be finrelve (12) consecutive months. Beneficiary means the person or persons entitled to receive benefits hereunder at the death of a Member who has or have been designated in writing by the Member and filed with the Board. If no designatian is in effect, or if no person so designated is living, at the time of death of the Member, the beneficiary shall be the estate of the Member. -1- Board or Board of Trustees mean the Public Safety Board of Trustees, which shali administer and manage the System herein provided and serve as Trustees of the Fund for the benefit of Village Police Officers and Firefighters and their benefiaaries. Chapters means Chapters 175 aftd�8�5-of the Florida Statutes as amended from time to time. Cade means the Intemal Revenue Code of 1986, as amended from time to time. Credited Service means the total number of years and fractional parts of years of service as a Police Officer, or Firefighter who makes member contributions to the Plan, omitting intervening years or fractional parts of years when such Police Officer or Firefighter may not have been employed by the Village of Tequesta. A plan member may voluntarily leave his/her contribution in the Fund for a period of five (5)years after leaving the employ of the Village of Tequesta pending the possibility of being rehired in a full time position by#he Village of Tequesta without losing credit for the time of active participation as a plan member. Should the employee not be re-employed with the Village of Tequesta in a full time capacity within five(5)years,his/her contributions shall be retumed to him/her without interest. Should a Police Officer or Firefighter be subsequently re-employed as such, he or she may re-purchase his or her years of credit or fractional parts of years of credit by reimbursing such retumed contribution to the Fund, with interest. The years or fractional parts of years that a Firefighter, or Police Officer serves in the military service of the Armed Forces of the United States or the United States Merchant Marine, voluntarily, upon being granted leave by the Village of Tequesta and separation from employment as a Village of Tequesta plan member, shall be added to his/her years of credited serviae for all purposes including vesting, provided that: A. The Firefighter or Police Officer must retum to his/her full time employment with the Fire Department or Police Department within one (1)year from the date of his/her military discharge. Effective January 1, 2007, members who die or become disabled while serving on active duty military service vifiich intervenes the member's employment shall be entitled to the rights of this section even though such member was not re-employed by the Village. Members who die or become disabled while on active duty military service shall be treated as though re-employed the day before the Member became disabled or died,was credited with the service they would have been entitled to under this section, and then either died a non-duty death while employed or became disabled from a non-duty disability. B. The maximum credit for military service shall be five (5)years. Effective Date means the date on which this Ordinance becomes effective. Fire Department means the Tequesta Fire Depa�tment. -2- Firefiqhter means an actively employed full-time person employed by the Fire Department, including his/her initial probationary employment period, who is certified or required to be certified as a Firefighter as a condition of employment in accordance with the provisions of 633.35 Florida Statutes, including paramedic, and whose duty is to extinguish fires, to protect life and to protect property. The term Firefighter includes all certifled, supervisory, and command personnel whose duties include, in whole or in part, the supervision, training, guidance, and management responsibilities of fufl-time firefighters, part-time firefighters, or auxiliary firefighters but does not include part-time firefighters or auxiliary firefighters. Fund means the Trust Fund established herein as part of the System. Member means an actively employed Firefighter that fulfills the applicable prescribed membership requirements:and means an activelv em�loved Police O�cer hired before Februanr 1, 2013 that fuffilled the aaalicable �rescribed membershi� reauirements. Police Department means the Tequesta Police Department. Police Officer means any person who is elected, appointed, or employed full time by the Village before Februarv 1.2013,who is certified or required to be certified as a law enforcement officer in compliance with Florida Statute 943.1395, who is vested with authority to bear arms and make arrests,and whose primary responsibility is the prevention and detection of crime or the enforcement of the penal, criminal, traffic or highway laws of the state. This definition includes all certifled supervisory and command personnel whose duties include, in whole or in part, the supervision, training, guidance, and management responsibilities of full-time law enforcement officers, part-time law enforcement officers or auxiliary law enforcement officers as the same are defined in F.S. 943.10(6) and (8) respectively. Police Officer also shall include a public safety officer who is responsible for perForming both police and fire services. Police Officer as used in this Plan does not include anv Police Officer hired on or after Februarv 1, 2013. Public Safetv Board means the Public Safety Board of Trustees provided hereunder to administer and manage Funds for the benefit of Public Safety Officers. Public Safetv Officers means Firefighters and/or Police Officers as deiined in this document.. � Salary means the total cash remuneration paid to a police afficer or firefighter for services rendered including Base Pay, Bonuses, Career Service Annual Award, Holiday Pay, Incentives, Overtime, Sick Leave Payout on Termination, Sick-Leave Buy Back, and Straight Time, and effective for payments made after 12/31/08,as p�ovided for by Intemal Revenue Code §414(u)(7), this definition of salary shall include any differential wage payment from the employer to a member as a result of the member's absence from -3- employment while serving in qualified military service. This definition excludes pay received as a Car Allowance, Clothing Allowance and Shoe/Boot Allowance. Spouse means the lawful wife or husband of a plan member at the time of pre-retirement, death or retirement. Statement of Investment Policv means the written investment policy adopted by the Board pursuant to this Ordinance and F.S. 112.661, et seq., which shall apply to funds under the control of each board. Svstem means the Village of Tequesta Public Safety Officers' Pension Trust Fund as contained herein and all amendments thereto. Vested deferred retirement means a Member who leaves the employ of the Village with 6 or more years of credited service and who is not eligible for any retirement benefit. This benefit is payable at early or normal retirement. Vil, lage means the Village of Tequesta, Florida. 2. Masculine Gender. The masculine gender, where used herein, unless the context specifically requires otherwise, shall include both the feminine and masculine genders. Section 3. Nlembership. 1. Condition of Eliqibility All full time Police Officers(hired before Februarv 1. 2013) and Firefighters as of the effective date, and all future new full time Firefighters shall become Members of this System as a condition of employment, except that participation in this system is optional for the Fire Chief. 2. Membership Each full time Police Officer (hired before Februarv 1. 20131 or Firefighter shall complete a form prescribed by the Board which may include the following information: A. Acceptance of the terms and conditions of the Retirement System, and, B. Designation of a beneficiary or beneficiaries, and, C. A cert�ed statement as to prior medical and/o�psychological history. -4- 3. Chanqe in Desiqnation of Beneficiarv A. A member may from time to time change his/her designated beneficiary by written notice to the Board upon forms provided by the Board. Upon such change, the rights of all previously designated beneficiaries to receive any benefits under#he System shall cease. B. Any retired member mav chanae the desianated ioint uensioner or beneficiarv ua to twice in accordance with Florida Statutes �175.333 and �185.341 without the aoaroval of the board of trustees or the current ioint aensioner or beneficiarv. The retired member is not reauired to arovide aroof of the aood health of the ioint pensioner or beneficiarv beina removed.and the ioint annuitant or beneficiarv beina removed need not be livina. Anv retired member who de�ires to change his or her joint ue�ner�or beneficiary shall file with the board of trustees a notarized notice of such change. Upon receipt of a completed change of joint�en@ sioner a�n°rd�ant form or such other notice, the board of trustees shall adjust the r tire member's monthly benefit as �rovided for in Sec#ion 12 by the application of actuarial tables and calculations developed to ensure that the benefit paid is the actuarial equivalent of the present value of the members current benefit and there is no impact to the Plan. The ioirrt aensioner or beneficiarv beins� removed will be assumed deceased bv the actuarv in deternninins� th� actuariallv eauivalent amourrt of the revised monthlv uavment. No retired member's current benefit shall be increased as a result of the chanqe of ioint uensioner or beneficiarv. Any eosts associated with these benefit calculations shall be bome by the r ired member. Section 4. Board of Trustees. 1. The sole and exclusive administration of and responsibility for the proper operation of the retirement system and for making effec#ive the provisions of this ordinance is hereby vested in a Board of Trustees. A. The Public Safety Board shall consist of five (5)Trustees, two (2)of whom, unless otherwise prohibited by law, shall be legal residents of the Village, who shall be ap�inted by the Tequesta Village Council, and one (1) of whom shalt be a full-time Police Officer member of the System and one (1) of whom shall be a full-time Firefighter member of the System. The fifth (5th) Trustee shaU be selected by a majority vote of the other four(4) Trustees. Each person seeking to fill a designated employee representative Board member seat shall be separat�ely elected by their full-time co-workers who are members of the System in the applicable employee representative group, -5- e.g. Police Officer or Firefighter in which they are employed and shall be elected by a majority of the full-time employees who are Members of the System within the applicable employee representative group. Upo� receipt of the fifth (5th) person's name the Tequesta Village Council shall, as a ministerial duty, appoint such person to the Public Safety Board as its fifth (5th)Trustee. The fifth (5th)Trustee shall have the same rights as each of the other Trustees appointed or elected as herein provided and shall serve a two (2) year term unless the office is sooner vacated and may succeed himself or herself in office. Each resident Trustee shall serve as Trustee for a period of two (2) years unless sooner replaced by the Tequesta Village Council at whose pleasure the Trustee shall serve,and may succeed himself or herself as a Trustee. Each Police Officer or Firefighter Trustee shall serve as 7rustee for a period of two (2) years, unless he/she sooner leaves the employment of the employee representative group he/she was elected to represent or otherwise vacates his/her office as Trustee, whereupon a successor shall be chosen in the manner as the departing Trustee. Each employee representative Trustee may succeed himself or herself in office. B. Wheneverthe active oolice officer member°shia fatls below 10,an active police oificer member seat mav be held bv either a retired aolice officer or an active oolice ofFicer member of the olan who is elected bv the active and retired members of the �lan. If there are no active or retired police officers remainina in the alan or caaable of servina. the remaininq board members mav elect an individual to serve in the active police o�cer member seat. Uaon receiut of such person's name, the les�islative bodv of the municiaalitv shall, as a ministerial dutv,aaaoint such person to the board of trustees. C. The Public Safety Board shall meet at least quarterly each year. Such Boards shall be a legal entity wvith, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. 2. The Board shall, by majority vote, elect a chairman and secretary. The secretary of the Board shall keep, or cause to be kept, a complete minute book of the actions, proceedings, or hearings of the Board and shall preside over Board meetings in the absence of the Chairman. The Trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law. 3. Each Trustee shall be entitled to one vote. Three (3) affirmative votes shall be necessary for any decision by the Trustees at any meeting of the Board. A Trustee shall have the r�ght to abstain from voting as the result of a conflict of interest provided that Trustee states in writing the nature of the conflict complies with the provisions of Section 112.3143, Florida Statutes. -6- 4. The Board of Trustees shall engage such actuarial, accounting, legai, and ather services as shall be required to transact the business of the Retirement System to administer and manage their funds and to meet the �equirements of applicable law. The compensation of all persons engaged by the Board of Trustees and all other expenses of the Board necessary for the operation of the Retirement System shalf be paid from the Fund they administer and manage at such rates and in such amounts as the Board of Trustees shall approve. 5. The duties and responsibilities of the Boarcl of Trustees shall include, but not necessarily be limited to, the following: A. To constnae the provisions of the System and determine all questions arising thereunder. B. To determine all questions relating to eligibility and participation. C. To determine and certify the amount of all retirement allowances or other benefits hereunder. D. To establish uniform rules and procedures to be followed for administrative purposes, benefit applications and all matters required to administer the System. E. To distribute to Members, at regular intervals, information conceming the System. F. To receive and process all applications for participation and benefits. ' G. To authorize all payments whatsoever ftom the Fund and to notify the disbursing agent, in writing, of approved pension payments and other expenditures arising through operation of the System and the Fund. H. To have performed actuarial studies in accordance with Florida Statute 112.63 providing a copy of the same to the Division of Retirement, a�d with at least biennial valuations, and make recommendations regarding and all changes in the provisions of the System. I. Ensure compliance with Article X, Section 14, of the Florida Constitution, requiring that any increase in benefits be funded on an actuarially sound basis. J. Ensure the completion of an actuarial impact statement prior to the adoption of a change in the plan's retirement benefits, a copy of which must be provided to the Division of Re�rement. -7- K. To comply writh the Chapters. L. To ensure the funds and assets for the benefit of the employee groups they serve are segregated and separated from the funds and assets under the cont�ol of the Board. M. To perform such otherduties as are specified in this Ordinance and generally do all acts which the Trustees may deem necessary or desirable for the protection of the Trust Fund. N. To adopt and be guided by Statements of Investment Policy applicable to all funds under the control the Public Safety Board of Trustees as required from time to time by F.S. 112.661, et seq., and/or its successor statutes. O. To sue or be sued. P. To settle, compromise or submit to arbitration (at the sole discretion of the Trustees) any claims, debts or damages due or owing to or from the Fund. Section 5. Finance Md Fund Management. Establishment and Operation of Fund 1. As part of the System, there is hereby established a Fund, into which shall be deposited all of the contributions and assets whatsoever attributable to the System,for the benefit of Public Safety Officers to be administered and managed by the Public Safety Board. 2. The actual custody and supervision of the Fund(and assets thereo� shall be vested in the Board of Trustees. Payment of benefits and disbursements ftom the Fund shall be made by the Village as the Board's agent,but only upon written authorization fram the Board. Such written authorization shall require the signature of finro of the Trustees or other Board authorized fiduciary. 3. All funds and securities of the Fund may be deposited by the Board of Trustees with the Treasurer of the Village, acting in a ministerial capacity only, who shall be liable in the same manner and to the same extent that as he is liable for the safekeeping of funds for the Village. However, any funds and securities so deposited with the Treasurer of the Village shall be kept in separate funds by the Treasurer or clearly identifled as such funds and securities of the Public Safety Officer Trust Fund. In lieu thereof, the Board of Trustees shall deposit the funds and securities of the Fund in a qualified public depository or depositories as defined in Section 280.02, Florida Statutes, which depository or depositories with regard to such funds and securities shall conform to and be bound by all of the provisions of Chapter 280, Florida Statutes. -8- 4. In order to fulfilt its investment responsibilities as set forth herein,the Boards may retain the services of a custodian bank or banks, an investment advisor or advisors registered under Investment Advisors Act of 1940 or otherwise exempt from such required registration, an insurance company, or a combination of these, for the purposes of investment decisions and management. Such investment manager or managers shall have discretion, subject to any guidelines as prescribed by the Board, in the investment of all fund assets. 5. All funds and securities of the System shall be accounted for separately based upon the two (2) applicable employee classes within the Fund namely, the Police Officers and Firefighters in the Public Safety Officers Trust Fund. Accurate records shall be maintained at all times reflecting the financial composition of the Fund and of the accounts in place to segregate the assets of the employee classes covered by the System, including accurate current accounts and entries as regards the following: A. Current amounts of Accumulated Contributions of Members on both an individual and aggregate account basis, and B. Receipts and disbursements, and C. Benefit payments, and D. Cu�rent amounts clearly reflecting all moneys,funds and assets whatsoever attributable to contributions and deposits ftom the Village, County or State, and E. All interest, dividends and gains (or losses)whatsoever, and F. Such other entries as may be properly required so as to reflect a clear and complete financial report of the Fund. G. Such other eniries as required by the Chapters. 6. An independent audit shall be performed annually by a certified public accountant for the most recent fiscal year of the Village showing a detailed listing of assets and a statement of all income and disbursements during the year for each Fund. Such income and disbursements must be reconciled with the assets at the beginning and end of the year. Such report shall reflect complete evaluations of assets on both a cost and market basis, as well as other items normally included in a certified audit. 7. The Board of Trustees shall have the following investment powers and authority: A. The Board of Trustees shall be vested with full legal title to the Fund,subject, however, and in any event to the authority and power of the Tequesta Village -9- Council to amend or terminate this Trust, provided that no amendment or Fund termination shall ever result in the use of any assets of the Fund except for the payment of regular expenses and benefits under this System. All contributions from time to time paid into the Fund, and the income thereof, without distinctian between principal and income, shall be held in the Fund and administered by the Board or its Agents. B. All moneys paid into or to be held shall be invested and reinvested by the Board and the investment of all or any part of such funds shall be limited to: (1) Annuity and life insurance c;ontracts of life insurance companies in amounts sufficient to provide, in whole or in part, the benefits to which all of the participants in the Fund shall be entitled under the provisions of the Plan and pay the initial and subsequent premium thereon. (2) Time or savings accounts of a national bank, a state bank insured by the Bank Insuranc� Fund, or a savings and loan association insured by the Savings Association Insurance Fund which is administered by the Federal De�sit Insurance Corporation or a state or federal chartered cre+dit union whose share accounts are insu�ed by the National Credit Union Share Insurance Fund. (3) Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United States. (4) Bonds, stocks, commingled �a�s-or other pooled funds, which may include mutual funds or exchan�e-traded funds or trusts, except as provided in para9raph M below,or evidences of indebtedness issued or guaranteed by a corporation organized under the laws of the United States, any state or organized territory of the United States, or the Distric# of Columbia, provided that the corporation is traded on a nationally recognized Exchange and in the case of bonds only holds a rating in one of the four highest classifications by a major rating service, and if such investments are held in a pooled fund ,then the rating of each issue in the pooleci fund shall hold a rating within the top four(4) rating classifications of a major rating service, except that 5°/a of the total market value of the portfolio may be invested in securities that are l�low these rating uidelines and all securities must mair�tain at least a "B" ratin� at the time of purchase by a nationally recognized rating organization. (5) Real estate. -10- (6) Up to 25% of Plan assets may be invested in foreign securities. Additionallv, the value of bonds denominated in US dollars that are issued bv a foreiqn bank or corporation (Yankee Bonds) shall not exceed 5% of the total fund. (7) All monies paid into or held in the Pension Fund shall be invested and reinvested by the Board of Trustees and the investment of all or any part of such funds shall be invested in accordance with �n established investment policy adopted by the Board of Trustees. C. The Board of Trustees shall not invest more than five percent (5%) of its assets in the common stock or capital stock of any one issuing company, nor shall the aggregate investment in any one issuing company exceed five percent(5%)of the outstanding capital stock of that company; nor shall the aggregate of its investments in common stock, capital stock and convertible bonds at market eest exceed sever�tv aercent(70%) ' f the assets of the Fund. Additionally, the value of bonds issued by any single corporation shall not exceed 5% of the total fund. D. The Board of Trustees may retain in cash and keep unproductive of income such amount of the Fund as it may deem advisable, having regard for the cash requirements of the System. E. No person or entity shall be liable for the making, retention or sale of any investment or reinvestment made as herein provided, nor for any loss or diminishment of the Fund, except that due to his/her or its own negligence, wrillful misconduct or lack of good faith. F. The Board may cause any investment in seeurities held to be registered in or transferred into their name as Trustee or into the name of such nominee as they may direct, or they may retain them unregistered and in form permitting transferability, but the books and records shall at all times showr that all investments are part of the Trust Fund. G. The Board is empowered, to vote upon any stocks, bonds or securities of any corporation, association, or trust and to give general or specific proxies or powers of attorney with or without power of substitution; to participate in mergers, reorganizations, recapitalization, consolidations and similar transaetions with respect to such secu�ties; to deposit such stock or other securi#ies in any voting trust or any protective or like committee with the Trustees or with depositories designated thereby; to amortize or fail to amortize any part of all of the premium or discount resulting from the acquisition or dis�sition of assets; and generally to exercise any of the powers of an owner with respect to stocks, bonds, or other investments -11- comp�sing the Fund which it may deem to be the best interest of the Fund to exercise. This responsibility may be delegated to an Agent for the Board. H. The Board shall not be required to make any inventory or appraisal or report to any court, nor secure any order of cou�t for the exercise of any power contained herein. I. Where any action which the Board is required to take on any duty or function wrhich it is required to perform either under the terms herein or under the general law applicable to it as Trustee under this Ordinance, can reaso�ably be taken or performed only after receipt by it from a Member,the Village,the Department or any other entity,of specific information,certification,direction or instructions,the Board shall be free of liability in failing to take such aetion or perform such duty orfunction until s�ch information,certification,direction or instruction has been received by it. J. Any overpayments or underpayments from a Fund to a Member or beneficiary caused by errors of computation shall be adjusted with interest at a rate per annum approved by the Board. Overpayment shall be charged against member's payments next succeeding the correction. Underpayments shall be made up from the Trust Fund. K. The Board shall sustain no liability whatsoever for the sufficiency of a Fund to meet the payments and benefits herein provided. L. Any of the foregoing powers and functions reposed in the Board may be performed or carried out by the Board through duly authorized Agents, provided that the Board at all times maintains continuous supervision over the acts of any such Agent; provided further,that legal title to the Fund shall always remain in the Board of Trustees. M. The Board shall npt invest more than ten percent(10%)at cost of its assets in real property or real estate and there shalf be no investment in a limited partnership or trust. N. The Village shall maintain Fiduaary Liability insurance to cover the members of the Board of Trustees. O. With respect to any investment, the Trustees may consent or object to any action or non-action of any corporation or of the directors, officers or stockholders of any corporation. P. Notwithstanding anything else in this subsection and as provided in Florida Sta#utes§215.473,the board of trustees must identify and publicly report any direct or indirect holdings it may have in any scxutinized company,as defined -12- in that section. Beginning January 1, 2010, the Board must proceed to sell, redeem, divest, or withdraw all publicly traded securities it may have directly in that company. The divesture of any such security must be completed by September 10, 2010. The board and its named officers or investment advisors may not be deemed to have breached their fiduciary duty in any action taken to dispose of any such security, and the board shall have satisfactorily discharged the fiduciary duties of loyalty, pn�dence, and sole and exclusive benefit to the participants of the pension fund and their beneficiaries if the actions it takes are consistent with the duties imposed by Florida Statutes §215.473, as provided for in Florida Statutes 185.06(7) / 175.071(8)and the manner of the disposition, if any, is reasonable as to the means chosen. For purposes of determining which companies are scr�tinized companies, the Board may utilize the list of scrutinized companies as developed by the Florida State Board of Administration. No person may bring any civil, criminal, or administrative action against the board of trustees or any employee, officer, director, or advisor of such pension fund based upon the divesture of any security pursuant to this subsection. Section 6. Contributions. 1. Member Contributions A. Amount. Effective the first full payroll period after the effective date of this Ordinance, Poiice Officer Members ofi the Retirement System shall be required to make regular contributions to the Fund in the amount of five percent (5%) of his/her salary effective the first full payroll period after the effective date of #his Ordinance, Firefighter Members of the Retirement 5ystem shall be required to make regular contribution to the Fund in the amount of five percent(5%)of his/her salary. The funding for the difference befinreen the previously required contribution of 6.1% and the now required 5% shall be made up from the monies received from the State pursuant to Chapter 175, F.S. Should the Chapter 175 money ever become insufficient to make up the difference,the contribution rate for Firefighter Members shafl automatically revert to 6.1%. Member contributions withheld by the Village on behalf of the Member shall be deposited with the Board of Trustees immediately after the withholding of such contributions. The contributions made by each Member to the Fund shall be designed as employer contributions pursuant to Section 414(h) of the Code. Such designation is contingent upon the contributions being excluded from the Members' gross income for Federal Income Tax purposes. For all other purposes of the Plan, such contributions shall be considered to be Member contributions. B. Method. Such contributions shall be made by payroll deduction. -13- 2. State Contributions Any monies received or receivable by reason of laws of the State of Florida, for the express purpose of funding and paying for retirement benefits for Police Officers or Firefighters shall be deposited with the applicable segregated account in the Trust Fund comprising part of this System immediately and under no circumstances more than five(5) days after receipt by the Village. 3. Villaqe Contributions So long as this System is in effect, the Village shall make contributions at least quarterly to the Trust Fund in an amount equal to the normal cost and the amount required to fund any actuarial deficiency shown by an actuarial valuation as provided in Part VI I of Chapter 112, Florida Statutes. 4. Other Private donations, gifts and contributions may be deposited to the Fund, but such deposits must be kept separately and kept on a segregated bookkeeping basis. Funds arising from these sources may be used only for additional benefits for Members, as determined by the Board of Trustees, and may not be used to reduce what would have otherwise been required by Village contributions. Section 7. Benefit Amounts and Eligibility. 1. Normal Retirement Date A Member's normal retirement date shall be the first day of the month coincident with, or the next following the earlier of: A. attainment of age fifty-five(55)and the completion of six(6)years of credited service, or B. attainment of age fifty-two (52)and the completion of twenty-five (25)years of credited service. A Member may retire on his/her normal retirement date or on the first day of any month thereafter, and each Member shall become 100%vested in his/her accrued benefit on the Member's normal retirement date. Normal retirement under the Plan is retirement from employment with the Village of Tequesta as a Police Officer or Firefighter on or after the normal retirement date. -14- 2. Normal Retirement Benefit A Member retiring hereunder on or after his/her normal retirement date shall receive a monthly benefit which shall commence on his/her Retirement Date and be continued thereafter during the Member's lifetime, ceasing upon death, but with one hundred twenty (120) monthly payments guaranteed in any event. The monthly retirement benefit shall equal: 3.0% for the first 6 years of service 3.5% for the next 4 years of service 4.0°/a for the next 5 years of service 3.0% for the next 6 years of service 2.0% for the next 4 years of service 3.0% for all years after 25 years 3. Early Retirement Date A Member may refiire on his/her early retirement date which shall be the first day of any month coincident with or ne�ct following the later of the attainment of age fifty(50)and the completion of six (6) years of credited service. Early retirement under the Plan is retirement from employment with the Village ofi Tequesta on or after the early retirement date and prior to the normal retirement date. 4. Earlv Retirement Benefit A Member retiring hereunder on his/her early retirement date may receive either a deferred or an immediate monthly retirement benefit payable for life, but with one hundred finrenty (120) monthly payments guaranteed in any event, as follows: A. deferred monthly retirement benefit which shall commence on what would have been his/her normal retirement date had he/she remained a Police Officer or Firefighter and shall be continued on the first day of each month thereafter. The amount of each such deferred monthly retirement benefit shall be determined in the same manner as for retirement as his/her normal retirement date except that credited service and average final compensation shall be determined as of his/her early retirement date; or B. immediate monthly retirement benefitwhich shall commence on his/her early retirement date and shall be continued on the first day of each month thereafter. The benefit payable shall be as determined in paragraph A above, which is actuarially reduced from the amount to which he/she would have been entitled had he/she retired on his/her normal retirement date and with the same number of years of credited service as at the time his/her benefit commence and based on his/her average final compensation at that date. In no event shall the early retirement reduction exceed three percent -15- (3%) for each year by which the commencement of benefits precedes the Member's normal retirement date. Section 8. Pre-retiremerrt Death. If a plan member dies prior to retirement from the Village of Tequesta his/her beneficiary shall receive a benefit as follows: A. Line-of-Duty-Death-Benefit is a pension to the spouse (or children)fior life in the amount of 50% of Average Final Compensation. B. Non-Line-of-Duty-Death-Benefit the spouse of a member with 6 years of credited service will receive the actuarial equivalent of the accrued normal retirement benefit. C. In lieu of the benefits provided in A or B above, the beneficiary of a police officer or firefighter, with 6 or more years of service who dies prior to retirement, may receive the benefits otherwise payable to the police o�cer at what would have been his/her ea�y or normal retirement date. Se�tion 9. Disability. 1. Disabilitv Benefits On-Duty Each full time employee who is a participant in the Pension Fund System and who becomes totally and permanently disabled while an active employee of the Village of Tequesta to the extent that he/she is unable, by reason of a medically determinable physical or mental impairment, to render useful and efficient service as a Police Officer or Firefighter, as was provided by the employee in their classification (Police Officer or Firefighter) prior to the alleged impairment, which disability was directly caused by the performance of his/her duty as a Police Officer or Firefighter shall upon establishing the same to the satisfaction of the Board, be entitled to: A. If the injury or disease is service connected, the employee shall be entitled to the greater of(1)or(2): (1) a monthly pension equal to 42% of his/her average monthly compensation as of his/her disability retirement date, or (2) the accrued Normal Retirement Benefit. Any condition or impairment of health of Police Officer or Firefighter caused by tuberculosis, hypertension hepatitis, meningococcal meningitis or heart disease shall be presumed to have been suffered in the line of duty unless -16- the contrary is showm by competent evidence, provided that such Police Officer or Fireflghter shali have successfully passed a physical examination upon entering into such senrice, including cardiogram, which examination failed to reveal any evidence of such condition; and provided further, that such presumption shall not apply to benefits payable or granted in a policy of life insurance or disability insurance. In order to be entitled to the presumption in the case of hepatitis, meningococcal meningitis, or tuberculosis the member must meet the requirements of Section 112.181, Florida Statutes. 2. Disability Beneflts Off-Dutv Every Police Officer or Firefighter who is a participant in the Pension Fund System who shall have become totally and permanently disabled to the extent that he/she is unable, by reason of a medically determinable physical or mental impairment, to render useful and efficient service as a Police Officer or Firefighter which disability is not directly caused by the performance of his/her duties as a Police Officer or Firefighter shall be entitled the greater of A. or B.: A. A monthly pension equal to 25% of his/her average monthly compensation as of his/her disability retirement date, or B. The accrued Normal Retirement Benefit. 3. Conditions Disqualifyinq Disability Benefits Each Police O�cer or Firefighter who is claiming disability benefits shall establish, to the satisfaction of the Board, that such disability was not occasioned primarily by: A. F�ccessive or habitual use of any drugs, intoxicants or alcohol. B. Injury or disease sustained while willfully and illegally participating in fights, riots or civil insurrections. C. Injury or disease sustained while committing a crime. D. Injury or disease sustained while serving in any branch of the Armed Forces. This exclusion does not affect members who have become disabled as a result of intervening military service under the federal Heroes Eamings Assistance and Relief Tax Act of 2008 (H.R. 6081; P.L. 110-245). E. Injury or disease sustained after his/her employment shall have terminated as a Police Officer with the Tequesta Police Department or a Firefighter with the Tequesta Fire Department. -17- F. Injury or disease sustained by a Police Officer, while working for anyone other than the Tequesta Police Department and arising out of such employment. G. Injury or disease sustained by the member before employment with the Village begins. This subparagraph applies only in the event of a duty injury or disease. 4. Phvsical Examination Requirement An employee shall not become eligible for disability bene�ts until and unless he/she undergoes a physical examination by a qualified physician or physicians and/or surgeons, who shall be selected by the Board for that purpose. Any person receiving disability benefit under provisions of this Ordinance may be periodically re-examined by a qualified physician or physicians and/or surgeon or surgeons who shall be selected by the Board, to determine if such disability has ceased to exist. tf the Board finds that the retiree is no longer permanently and totally disabled to the extent that he/she is unable to render useful and efficient service as a Police Officer or a Firefighter, the Board shall recommend to the Village that the retiree be retumed to their previous performance of duty as a Police Office�or Firefighter, and the retiree so retumed shall enjoy the same rights that Member had at the time he/she was placed upon pension. In the event the retiree is so ordered to retum shall refuse to comply with the order within thirty(30)days from the issuance thereof, Member shall forfeit the right to his/her pension. The cost of the physical examination and/or re-examination of the employee or retiree claiming and/or receiving disability benefits shall be bome by the Board. All other reasonable costs as determined by the Board incident to the physical examination, such as, but not limited to, transportation, meals and hotel accommodations, shall be borne by the Board. If the retiree recovers from disability and reenters his/her former service with the ViAage of Tequesta held prior to disability retirement, his/her service will be deemed to have been continuous, but the pe�od beginning with the first month for which he/she received a disability retirement income payment and ending with the date he/she reentered the service of the Village will not be considered as credited service for the purposes of the Plan. The Board shall have the power and authority to make the final decision regarding all disability Gaims. 5. Disability Payments The monthly benefit to which a Member is entitled in the event of the -18- Member's disability retirement shall be payable on the first day of the first month after the Board of Trustees determines such entitlement. However,the monthly retirement income shall be payable as of the date the Board determined such entitlement, and any portion due for a partial month shall be paid together with the first payment. The last payment will be: A. If the plan member recovers from the disability or attains his/her normal retirement date, the payment due next preceding the date of such recovery, or B. If the plan member dies without recovering from the disability prior to his/her normal retirement date while still disabled, the payment due next preceding his/her death or the 120th monthly payment, wrhichever is later. Section 10. AAonthly Supplemental Benefits. 1. Effective upon passage ofthis Ordinance,any retiree or beneficiary receiving pension benefits is entitled to a monthly supplemental pension benefit of$20 per year of service, up to a maximum benefit of$600.00. 2. This benefit shall be payable monthly as a part of the regular monthly pension benefit. The benefit shaA be payable to the retiree and any beneficiary. The benefit shall cease upon the death of the member or beneficiary, if applicable. Section 11. Vesting. If a Member terminates his/her employment with the Village of Tequesta, either voluntarily or by discharge,and is not eligible for any other benefits under this System,the Member shall be entitled to the following: 1. If the Member has less than six (6) years of credited service upon termination, the Member shall be entitled to a refund of his/her accumulated contribution or the Member may leave it deposited with the Fund. 2. If the Member has six(6)or more years of credited service upon termination, the Member shall be entitled to a monthly retirement benefit that is the actuarial equivalent of the amount of such retirement income othennrise payable to him commenang at the Member's otherwise normal or early retirement date, provided he does not elect to withdraw his/her accumulated contributions and provided the Member survives to his/her normal or early retirement date. -19- Section 12. Optional Forms of Benefits. 1. In lieu of the amount and form of retirement income payable in the event of normal, early, or disability retirement as specfied herein, a plan member, upon written request to the Board of Trustees, and subject to the approval of the Board of Trustees, may elect to receive a retirement income or benefit of equivalent actuarial valuation payable in accordance with one of the following options: A. A rQtirement income of a larger monthly amount, payable to the Member for his/her lifetime only. B. A retirement income of a modified monthly amount, payable to the Member during the joint lifetime of the Member and a dependent joint pensioner designated by the Member and following the death of either of them, 100%, 76%, 66-2/3%, or 50%of such monthly amounts payable to the survivor for the lifetime of the survivor. C. Suah other amount and form of retirement payments or benefits as, in the opinion of the Board of Trustees, will best meet the circumstances of the retiring Member. 2. The Member, upon electing any option of this section,will designate the joint pensioner or beneficiary(or beneficiaries)to receive the benefit, if any, payable under the Plan in the event of the Member's death, and will have the power to change such designation from time to time, subject to the provisions below. A. Deaendant Joint Pensioner Benefit - . If a Member has elected an option with a deaendant joint pensioner ar nd the Member's retirement income benefits have commenced, the#hen retired member�ber may thereafter change his/her designated joint pensioner er--��-u� to twice in accordance with Florida Statutes &175.333 and �185.341 without the aa�roval of the board of trustees or the current ioint aensioner. The retired member is not reauired to �rovide oroof of the Qood health of the ioint qensioner bein�a removed, and th� ioint �ensioner beina removed need not be ii , �— Uoon receiat of a comaleted chan�e of de�endant ioint aensioner form or such other notice.the Board of Trustees shall adiust the retired member's monthlv benefit bv the apalication of actuarial -20- tables and calculations devetoaed to ensure that the benefit paid is the actuarial eauivalent of the aresent value ofthe retired member's current benefit and there is no imaact to the Plan. The ioi�t nensioner beinu removed will be assumed deceased bv the actuarv i� determininsr the actuariailv eauivalent amount of the revised monthlv aavment. No retired member's current benefit shall be increased as a result of the chans�e ot the ioint pensioner. The retired member shall also be resaonsible for the cost of the recalculation of the benefit bv the act� B. Beneficiarv-ff a Member has elected an oation with a beneficiarv and the Member's retirement income benefits have commenced,the retired member mav thereafter chanae his/her desi�nated beneficiarv up to twice in �ccordance with Florida Statutes 6175.333 and &185.341 without the ap�roval of the board of trustees or the current beneficiarv. The retired member is not reauired to urovide aroof of the s�aod health of the beneficiarv beinq removed, and the beneficiarv beins� removed need not be livina. Uaon receiat of a comaleted chanae of beneficiarv form or such other notice, the Board of Trustees shall adiust the Retired Member's monthlv benefit bv#he aaalication of actuarial tables and calculations developed to ensure that the benefit aaid is the actuarial eauivalent ofthe presentvalue ofthe retired member's current benefit and �there is no imuact to the Plan. The beneficiarv beinct removed w111 be assumed deceased bv the actuarv in determinins� the actuariallv eauivalent amount of the revised monthlv aavment. No retired member's current benefit shall be increased as a result of the chans�e of beneficiarv.The retired member shall alsa be resaonsible for the cost of the recalculation of the benefit bv the actuarv 3. Thereafter the ioin#uensioner or beneficiarv mav be chans�ed, but onlv 6 if the Board of Trustees consents to the chanae and if the ioint aensioner or beneficiarv, last areviouslv desianated bv the retired member is alive when he/she files with the Board of Trustees the reauest for such chanae. The consent of joint pensioner or beneficiary to any such change shall not be required. �—The Board of Trustees may request such evidence of the good health of joint pensioner that is being removed as it may require and the amount of the retirement income payable to the Police OfficEr or Firefighter upon designation of a new joint pensioner shall be actuarially redetermined taking into account the age and sex of the former joint pensioner, the new joint pensioner, and the Police Officer or �irefighter. Each such designation will be made in writing on a form prepared by the Board of Trustees and on completion will be filed with the Board of Trustees. -21- In the event that no designated beneficiary survives the Member, such benefits as are payable in the event of the death of the Member subsequent to his/her retirement shall be paid as provided in Section 12. �� Retirement income payments shall be made under the option elected in ac�ordance with the provisions of this section and shall be subject to the following limita#ions: A. If a Member dies prior to his/her normal retirement date or early retirement date, whichever occurs, no retirement benefit will be payable under the option to any person, but the benefits, if any, will be determined under Section 8. B. If the designated beneficiary(or beneficiaries)or joint pensioner dies before the Membe�'s retirement under the Plan,the option elected will be canceled automatically and a retirement income of the normal form and amount will be payable to the Member upon his/her retirement as if the election had not been made, unless a new election is made in acaordance with the provisions of this section or a new beneficiary is designated by the Member prior to his/her retirement and within ninety (90) days after the death of the beneficiary. C. If both the retired Member and the beneficiary(or beneficiaries) designated by the Member die before the full payment has been effected under any option providing for payments for a period certain and life thereafter, made pursuant to the provisions of subsection 1, the Board of Trustees may in its discretion, di�ect that the computed value of the remaining payments be paid in a lump sum and in accordance with Section 12. D. If a Member continues beyond his/her normal retirement date pursuant to the provisions of Section 7, subsection 1, and dies prior to his/her actual retirement and while an option made pursuant to the provisions of this section is in effect, rr�onthly retirement income payments will be made, or a retirement benefit will be paid, under the option to a beneficiary (or beneficiaries) designated by the Member in the amount or amounts computed as if the Member had retired under the option on the date on which his/her death occurred. �� The Member may not change his/her retirement option after the date of cashing or depositing his/her first retirement check. -22- Section 13. Beneficiaries. 1. Each Member may,on a form provided forthat purpose,signed and filed with the Board of Trustees, designate a beneficiary(or beneficiaries)to receive the benefit, if any, which may be payable in the event of his/her death; and each designation may be revoked by such Member by signing and filing with the Board of Trustees a new designation-of-beneficiary form. 2. If a deceased Member fails to name a beneficiary in the manner prescribed in subsection 1, or if the beneficiary (or beneficiaries) named by a deceased Member predeceases the Member, the death benefit, if any, which may be payable under the Plan with respect to such deceased Member may be paid, in the discretion of the Board of Trustees, either to: A. The wife or dependent children of the 11Aember; B. The dependent living parents of the Member; or C. Estate of the Member. Section 14. Deferred Retirement Option Plan. 1. Eliqibility to Participate in the Drop A. Any member who is eligible to receive a normal retirernent pension may participate in the DROP. Members shall elect to participate by applying to the Board of Trustees on a form provided for that purpose. B. Etection to participate shall be forfeited if not exercised within the first finre�ty-seven (27) years of combined credited service. However, participation in the first years of enactment will be extended to those members with twenty-eight (28)years of service in 2003. C. A member shall not participate in the DROP beyond the time of attaining 30 years of service and the total years of participation in the DROP shall not exceed five (5)years. For example: (1) Members with twenty-five (25) years of credited service at time of entry shall only participate for five (5)years. (2) Members with twenty-six(26)years of credited service at time of entry shall only participate for four (4)years. (3) Members with twenty-seven (27)years of credited service at time of entry shall only participate for three (3) years. -23- D. Upon a member's election to pa�ticipate in the DROP, he or she shall cease to be a member and is precluded from accruing any additional benefit under the Pension Fund. For all Fund purposes, the member becomes a retirant. The amount of credited service and final average salary freeze as of the date of entry into the DROP. 2. Amounts Pavable upon Election to Participate in DROP A. Monthly retirement benefits that would have been payable had the member terminated employment virith the department and eiected to receive monthly pension payments will be paid into the DROP and credited to the retirant. Payments into the DROP will be made monthly over the period the retirant participates in the DROP, up to a maximum of si�cty (60) months. B. Payments to the DROP earn interest using the rate of investment return eamed on Pension Fund assets during the finrelve (12)month period ending September 30th. The rate determined shall be the rate repo�ted to the Division of Retirement pursuant to Part VI I of Chapter 112, Florida Statutes. However, if a police officer or firefighter does not terminate employment at the end of participation in the DROP, interest credits shaA cease on the current balance and on all future DROP deposits. C. No payments will be made from DROP until the member terminates employment with the department. D. Upon termination of employment, participants in the DROP will receive the balance of the DROP acxount in accordance with the following rutes: (1) Members may elect to begin to receive payment upon termination of employment or defer payment of DROP until the latest day as provided under sub-subparagraph c. (2) Payments shall be made in either: a. Lump sum - the entire acc�unt balance will be paid to the retirant upon approval of the Board of Trustees. b. Instaitments - the account balance will be paid out to the retirant in three equal payments paid over 3 years the first payment to be made upon approval of the Board of Trustees. c. Annuity - the account balance will be used to purchase an annuity to be paid monthly, the first payment to be made upon approval by the Board of Trustees. The annuity must be -24- purchased from an insurer licensed to sell such annuities in Florida. (3) Any form of payment selected by a police officer must comply with the minimum distribution requirements of the IRC 401(A)(9} e.g., payments must commence by age 70'/2. (4) The beneficiary of the DROP participant who dies before payments from DROP begin shall have the same right as the participant in accordance with Ordinance. Section 15. Claims Procedures Before the Board Decision. 1. If any Member of the System has been: A. Placed on pension under the terms and provisions of this ordinance for disability, or B. Placed on pension because the Member has served the required number of years to entitle him to a pension, or C. Refused benefits under this Plan, and is dissatisfied with the amount of pension the Member is receiving, or believes that he should be entitled to benefits under the Plan, the Member may, in writing, request the Board to review his/her case. The Board shall review the case and enter such order thereon as it deems right and proper within sixty (60) days from receipt of such written request and the receipt by the Board of a written medicai release authorization and a list of names and addresses of all treating health care providers for such review of disability Gaims; provided, that the Board may extend th� time for entering such order by an additional forty-five (45) days if it determines such time is necessary for discovery in full and adequate review. 2. 1n the event that the order from the Board denies the claim for a change in such benefts or denies the clalm for benefits,the order of the Board shall be put in writing. Such written order shall include: A. The specific reasons for the deniaf, including speciflc references to pertinent provisions of the retirement system on which such denial is based; B. A description of any additional material or information that the Board feels is necessary for the Member to perfect his/her claim, together writh an explanation of why such material or information is necessary; and -25- C. An explanation of the review procedure next open to the Member. Such review procedure shall provide that: (1) Prior to such review, the Member or his/her duly authorized representative may review any pe�tinent documents including Plan provisions, minutes of the meeting of the Board in which denial fo the claim was originally recommended,and any otherdocuments material to the case; (2j After such review, the Member and/or his/her duly authorized representative shall submit their case in writing to the Board and request a hearing. Such submission shall be filed with the Board no later than ninety(90)days after the receipt of the order of the Board. Upon receipt of the written submission by the Member, the Board shall schedule an opportunity for a full and fair hearing of the issue within the next ninety(90)days, and such scheduled hearing shall be communicated in writing to the Member. The Member and/or his/her duly authorized representative may then appear at such scheduled hearing to present their case. The Board shall consider the facts presented at the scheduled hearing and shall, �rithin thirty (30) days after such hearing, make a final ruling in writing on the request of the Member. The written decision shall include the reasons for such deasion and, such deasion shall be final. (a) The Chairman shall preside over the hearing and shall rule on all evidentiary and other legal questions that arise during the hearing. (b) Either party, the claimant or the Board, may file pleadings within the time limits set herein. Procedural motions are to be determined by the Chairman of the Board at any time. All parties are to furnish copies of all pleadings to the opposing parties and exchange lists with names and addresses of witnesses expected to be called to testify at the hearing, as well as the list of exhibits that are intended to be introduced, at least forly-five (45) days prior to the hearing. Testimony of witnesses shall be under oath or affirmation. Depositions or affidavits shall not be admissible unless upon stipulation by all parties. The Chairman,any Member of the Board,the attorney for the Board, the claimant and the claimant's attomey, upon recognition by the Chairman, may direct questions to any witness during the proceedings. Each party shall have the right to present evidence relevant to the issues, to cross-examine witnesses, to impeach witnesses and to -26- respond to the evidence presented against the party. Each party shall have the right to present any opening and closing arguments. Any party may secure the services of a court reporter to record the proceedings with th�cost to be bome by the party requesting the court reporter or requesting the transcription of the proceedings. (c) In all cases, unless otherwise provided in this section, the burden of proof shall be on the claimant who seeks to draw his/her entitlement to a pension, disability pension, or increased pension benefits. 3. tn all proceedings under subsections 1 or 2 hereof,the Board shall have the power fio subpoena and require the attendance of witnesses and the production of documents for discov�ery prior to and at the proceedings provided for in each paragraph. A reasonable fee may be charged for the issuance of any subpoenas not to exceed the fees set forth in Florida Statutes. Section 16. Reporl�to Division of Retirement, Each yea�no later than March 15th, the Chairman of the Board shall file two (2) separate reports with the Division of Retirement containing the following relative to the Police Officers and Firefighters of the Plan. The Police Officer report shall be separate from the Firefighter report. 1. Whether in fact the Village is in compliance with the provisions of Chapters 175 and 185, Florida Statutes. 2. A certified statement of accounting for the most recent fiscal year of the Village(or an independent audit by a certified public acoountant if required by the Division of Retirement) showing a detailed listing of assets and methods used to value them and a statement of all income and disbursements during the year by the Public Safety Board. Such income and disbursements shall be reconciled with the assets at the begi�ning and end of the year. 3. A statistical exhibit showing the number of Police OfFicers on the force of the Village, the number included in the Pension Plan, the number of Police Officers ineligible, classified according to the reasons for their being ineligible, and the number of disabled and retired Police Officers and their beneficiaries receiving pension payments and the amounts of annual retirement income or pension payments being received by them. 4. A statistical exhibit showing the number of Firefighters on the force of the Village, the number included in the Pension Plan, the number of Firefighters ineligible, -27- classified according to the reasons for their being ineligible, and the number of disabled and retired Firefighters and their beneficiaries re�iving pension payments and the amounts of annual retirement income or pension payments being received by them. 5. A statement of the amount the Village has contributed to the Public Safety Pension Fund for the preceding plan year and the amount the Village will contribute to the Public Safety Pension Fund for the current plan year. 6. If any benefits are insured with a commercial insurance company, the report shall include a statement of the relationship of the insured benefits to the benefits provided by this Ordinance. This report shall also contain information about the insurer, basis of premium rates, mortality table, interest rates and method used in valuating retirement benefits. 7. An actuarial valuation of the retirement Plan for Public Safety Officers must be made at least once every three (3)years commencing from the last actuarial report of the Plan. Such valuation shall be prepared by an enrolled actuary who is enrolled under Subtitle C of the Title 3 Employee Re#irement Income Security Act of 1974 and who is a Member of the Soaety of Actuaries or the American Academy of Actuaries. Section 17. Roster of Retirees. The Secretary of the Boards shall keep a record of all persons enjoying a pension under the provisions of this Ordinance in which it shall be noted the time when the pension is allowed and when the same shall cease to be paid. Additionatly, the Secretary shall keep a record of all Police Officers and Firefighters employed by the Village who are Members of the plan their board administers in such a manner as to show the name, address, date of employment and date such employment is terminated. Section 18. Board Attorney and Professionals. The Board may employ independent legal counsel at the Pension Fund's expense forthe purposes contained herein,togetherwith such other professional,technical,orother advisors as the Board deems necessary. Section 19. Maximum Pension. 1. Basic Limitation. Subject to the adjustments herein set forth, the maximum amount of annual retirement income payable with respect to a Member under this Plan shall not exceed the limits contained in §415 of the Code. -28- 2. Additional Limitation on Pension Benefits. Notwithstanding anything herein to the contrary: A. The normal retirement benefit or pension to a retiree who becomes a member of the Plan and wrho has not previously participated in such Plan,on or after January 1, 1980, shall not exceed 100 percent of his/her average final compensation. However, nothing contained in this section shall apply to supplemental retirement benefits or to pension increases attributable to cost-of-living increases or adjustments. B. No member of the Plan who is not now a member of such Plan 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 wili receive in the future, a retirement benefit or pension from another retirement system or plan. This restriction does not apply to social security benefits or federal benefits under Chapter 67, Title 10, U.S. Code. Section 20. Commencement of Benefits. 1. Unless the Member otherwise elects, with such election being in writing and to the Trustees and specifying the form of retirement income and date on which the retirement income is to commence, the payment benefits under the Plan to the Member shall commence not later than the 60th day after the close of the Plan Year in which the latest following events occur: A. The attainment by the Member of age 65; B. The 10th anniversary of the date on which the Member commenced participation in the Plan; or C. The termination of the Member's service with the Village of Tequesta 2. If the payment of a Member's retirement income cannot begin on the date required under subsection 1 of the Section because the Trustees either cannot ascertain the amount of the Member's retirement income or cannot locate the Member after making reasonable efforts to do so,the payment of the Member's benefit shall begin not later than sixty (60) days after the date on which the amount can be ascertained or the Member is located, whichever is applicable. Any such payment shall be made retroactive to a date which is not earlier than the date on which the payment of the Member's benefit was scheduled to begin but which is not later than the date specified under subsection 1 of this Section. Section 21. Distribution of Benefits. -29- Notwithstanding any other provision of this Plan to the contrary,a form of retirement income payable from this Plan after the effective date of this ordinance, shall satisfy the following conditions: 1. If the retirement income is payable before the Member's death, the distribution shall commence to them not later than the calendar year defined above; and A. shall be paid over the life of the Member or over the lifetimes of the Member and spouse, issue or dependent, or, B. shall be paid over the period extending not beyond#he life expectancy of the Member and spouse, issue or dependent. Where a form of retirement income payment has commenced in accordance with the preceding paragraphs and the Member dies befo�e his/her entire interest in the Plan has been distributed,the remaining portion of such interest in the Plan shall be distributed no less rapidly than under the form of distribution in effect at the time of the Member's death. 2. If the Member's death occurs before the distribution of his/her interest in the Plan has commenced, the Member's entire interest in the Plan shall be distributed within five (5) years of the Member's death, unless it is to be distributed in accordance with the following rules: A. The Member's remaining interest in the Plan is payable to his/her spouse, issue or dependent; B. The remaining interest is to be distributed over the life of the spouse, issue or dependent or over a period not extending beyond the life expectancy of the spouse, issue or dependent; and C. Such distribution begins within one year of the Member's death unless the Member's s�use, issue or dependent shall receive the remaining interest in which case the distribution need not begin before the date on which the Member would have attained age 70'/z and if the spouse,issue or dependent dies before the distribution to the spouse, issue or dependent begins, this Section shall be applied as if the spouse, issue or dependent were the Plan Member. Section 22. Miscellaneous Provision. 1. Interest of Members in Pension Fund. At no time prior to the satisfaction of a11 liabilities under the Plan with respect to Members and their spouses or beneficiaries, -30- shall any part of the corpus or incame of the Pension Fund be used for or diverted to any purpose other than for their exclusive benefit. 2. No amendment or ordinance shall be adopted by the ViAage Council of the Village of Tequesta which shall have the effect of reducing the then vested accrued benefits to Members or Members beneficiaries. 3. Rollover Distributions A. This subsection applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a distributee's election under this subsection, a distributee may elect, at the time and in the manner prescribed by the Board of Trustees, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. B. Definitions. (1) "Eligible rollover distribution"is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover does not include any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or distributee's designated beneficiary, or for a specified period of 10 years or more; any distribution to the extent such distribution is required under section 401(a)(9)of the Code; and the portion of any distribution that is not includible in gross income. (2) "Eligible reti�ement plan"is an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in sectiion 408(b) of the Code, an annuity plan described in section 403(a)of the Code, or a qualified trust described in section 401(a) of the Code, that accepts the distributee's eligible rollover distribution. However, in the case of al eligible rollover distribution to the surviving spouse, an eligible retirement plan is an individual retirement a�ount or individual retirement annuity. (3) �Distributee" includes an employee or former employee. In additio�, the employee's or former employee's surviving spouse and the employee's or former employee's spouse who is entitled to payment for alimony and child support under a domestic relations order determined to be qualified by this Fund are distributees with regard to the interest of the spouse or former spouse. -31- (4) "Direct rollover" is a payment by the Plan to the eligible retirement pl�n specified by the distributee. Section 23. Repeal or Termination of System. 1. This Ordinance establishing the System and Fund, and subsequent Ordinances pertaining to said System and Fund, may be modified, terminated, or amended, in whole or in part; provided that if this or any subsequent Ordinance shall be amended or repealed in its application to any person benefitting hereunder,the amount of benefits which are the time of any such alteration, amendment, or repeat shall have accrued to the Member or beneficiary shall not be affected thereby. 2. If this Ordinance shall be repealed, or if cpntributions to the System are dis�ntinued, the Board shall continue to administer the System in accordance with the provisions of this Ordinance, for the sole benefit of the then Members, any beneficiaries then receiving retirement allowances, and any future persons entitled to receive benefits under one of the options provided for in this Ordinance who are designated by any of said Members. In the event of repeal, or if contributions to the System are discontinued, there shall be full vesting(100%)of benefits accrued to date of repeal. The actuarial single-sum value may not be less than the employee's accumulated contributions to the plan, with interest if provided by the plan, less the value of any plan benefits previously paid to the employee. 3. Upon termination of the plan by the Village for any reason, or because of a transfer, merger,orconsolidation of govemmental units,services,orfunctions as provided in chapter 121, or upon written notice to the board of trustees by the Village that contributions under the plan are being permanently discontinued, the rights of all employees to benefits accrued to the date of such termination or discontinuance and the amounts credited to the employees' accounts are nonforfeitable. The fund shall be distributed in accordance with the following procedures: A. The board of trustees shall determine the date of distribution and the asset value required to fund all the nonforfeitable benefits,aftertaking into account the expenses of such distribution. The board shall inform the Village if additional assets are required, in which event the Village shall continue to financially support the plan until all nonforfeitable benefits have been funded. B. The board of trustees shall determine the method of distribution of the asset value,whether distribution shall be by payment in cash, by the maintenance of another or substituted trust fund, by the purchase of insured annuities, or otherwise,for each police officer and firefighter entitled to benefits under the plan, as specified in subsection C. -32- C. The board of trustees shall distribute the asset value as of the date of termination in the manner set forth in this subsection, on the basis that the amount required to provide any given retirement income is the actuarially computed single-sum value of such retirement income, except that if the method of distribution determined under subsection B involves the purchase of an insured annuity, the amount required to provide the given retirement income is the single premium payable for such annuity.The actuarial single- sum value may not be less than the employee's accumulated contributions to the plan, with interest if provided by the plan, less the value of any plan benefits previously paid to the employee. D. If there is asset value remaining after the full distribution specified in subsection C, and after payment of any expenses incurred with such distribution, such excess shalt be returned to the Village, less retum to the state of the state's contributions, provided that, if the excess is less than the total contributions made by the Village and the state to date of termination of the plan, such excess shall be divided proportionately to the total contributions made by the Village and the state. E. The board of trustees shall distribute, in accordance with the manner of distribution determined under subsection 6, the amounts determined under subsection C. 4. The allocation of the Fund provided for in this subsection may, as decided by the Board be carried out through the purchase of insurance company contracts to provide the benefits determined in accordance with this subsection. The Fund may be distributed in one sum to the persons entitled to said benefits or the distribution may be carried out in such other equitable manner as the Board may direct. The Trust rnay be continued in existence for purposes of subsequent distributions. 5. After all the vested and accrued ber►efits provided hereunder have been paid and after all other iiabiiities have been satisfied, then and onfy then shall any remaining fund revert to the General Fund of the Village. Section 24. Exemption from Execution, Non-assignability. The pensions, annuities, or any other benefits accrued or accruing to any person under the provisions of this Ordinance and the accumulated contributions and the cash securities in the Fund created under this Ordinance are hereby exempted from any state, county or municipal tax of the state and shall not be subject to execution, attachment, garnishment or any legal process whatsoever and shall be unassignable. However, pursuant to an income deduction order,the trustees may direct that retirement benefits be paid for alimony or child support in accordance with rules and regulations adopted by the Board of Trustees. _33_ Upon written request by the retiree, the Board of Trustees may authorize the Plan administrator to withhold from the monthly retirement payment funds necessary to: 1, pay for benefits being received through the Viflage; 2. pay the certified bargaining agent; or 3. to pay for premiums for accident health and long-term care insurance for the retiree, the retiree's spouse and dependants. A retirement plan does not incur liability for participation in this permissive program if its actions are taken in good faith pursuant to Florida Statutes§§175.061(7)and 185.05(6). Section 25. Pension Validity. The Board of Trustees shall have the power to examine into the facts upon which any pension shall heretofore have been granted and under any prior or existing law, or shall hereafter be granted or obtained erroneously,fraudulently or illegally for any reasons. Said Board is empowered to purge the pension rolls of any person heretofore granted a pension under prior or existing law or heretofore granted under this Ordinance if the same is found to be erroneous,fraudulent or illegal for any reason, and to reclassify any person who has heretofore under any prior or existing law been or who shall hereafter under this Ordinance be erroneously, imprope�y or illegally classified. Section 26. Forfeiture of Pension. Any Member convicted of the following offenses committed prior to retirement, or whose employment is terminated by reason of his/her admitted commission, aid or abatement af the following specified offenses, shall forfeit all rights and benefits under this Pension Fund, except for the return of this accumulated contributions as of the date of termination. 1. Specified offenses are as follows: A. The committing, aiding or abetting of an embezzlement of public funds; B. The committing, aiding or abetting of any theft by a public o�cer or employee from employer; C. Bribery in connection with the employment of a public officer or employee; D. Any felony specified in Chapter 838, Florida Statutes; E. The committing of an impeachable offense. -34- F. The commit#ing of any felony by a public officer or employee who willfully and with intent to defraud the public or public agency, for which he acts or in which he is employed, of the right to receive the faithful perFormance of his/her duty as a public officer or employee, realizes or obtains or attempts to obtain a profit, gain, or advantage for himself or for some other person through use or attempted use of the power, rights, privileges, duties or position of his/her public office or employment position. G. The committing on or after October 1, 2008, of any felony defined in §800.04, Florida Statutes, against a victim younger than 16 years of age, or any felony defined in Chapter 794, Florida Statutes against a victim younger than 18 years of age, by a public officer or employee through the use or attempted use of power, rights, privileges, duties, or position of his or her public office or employment position. 2. Definitions A. Conviction shall be defined as: An adjudication of guilt by a court of competent jurisdiction; a plea of guilty or nolo contendere; a jury verdiet of guilty when adjudication of guilt is withheld and #he accused is plac�d on probation; or a conviction by the Senate of an impeachable offense. B. Court shall be defined as: Any state or federal court of competent jurisdiction which is exercising jurisdictipn to consider a proceeding involving the alleged commission of a specified offense. Prior forfeiture,the Board of Trustees shall hold a hearing on which notice shall be given to the Member whose benefits are being considered for forFeiture. Said Member shall be afforded the right to have an attomey present. No formal rules of evidence shall apply, but the Member shall be afforded a full opportunity to present his/her case against forfeiture. Any Member who has received benefits from the System in excess of his/her accumulated contributions after Member's rights were forFeited shall be required to pay back to the Fund the amount of the benefits received in excess of his/her accumulated contributions. The Board of Trustees may implement aH legal action necessary to recover such funds. 3. False,misleading,or fraudulent statements made to obtain public retirement benefits is prohibited; �nalty A. It is unlawful for a person to willfully and knowingly make, or cause to be made, or to assist, conspire with, or urge another to make, or cause to be -35- made, any false, fraudulent, or misleading oral or written statement or withhold or conceal m�terial information to obtain any benefit availabte under a retirement plan receiving funding under Florida Statutes,Chapters 175 and 185. B. A person who violates subsection (A) commits a misdemeanor of the first degree, punishabte as provided ir�s. 775.082 or s. 775.083,Florida Statutes. In addition to any applicable criminal penalty, upon conviction for violation described in subsection (A), a participant or beneficiary of a pension plan receiving funding under Florida Statutes, Chapters 175 and 185 may, in the discretion of the Board of Trustees, be required to forFeit the right to receive any or all benefits to which the person would otherwise be entitled under this Ordinance. For purposes of this paragraph, "conviction" means a determination of guilt that is the result of a pleas or trial, regardless of whether adjudication is withheld. Section 27. Military Service Prior to Employment. The years or fractional parts of years that a Member serves or has served in the military service of the Armed Forces of the United States or United States Merchant Marine, voluntarily or involuntarily, prior to first and initial employment with the Potice Department or Fire Department shali be added to his/heryears of credited service provided that: 1. The Police Officer or Firefighter contributes to the Fund the sum that he/she would have contributed had he/she been a member of the Plan for the years or fractional parts of years for which he/she is requesting credit plus amounts actuarially determined such that the crediting of service does not result in any cost to the Fund plus payment of costs for all professional services rendered to the Board in connection with the purchase years of credited service. 2. The request shall be made only once and made by the Member on or before the later of finrelve (12)months from the effective date of this Ordinance or six(6)months from the date of his/her employment with the Police Departme�t or Fire Department, whichever is later. 3. Payment by the Member of the required amount shall be made within six(6) months of his/her request for credit and shall be made in one lump sum payment upon receipt of which credited service shall be given. Credited service purchased pursuant to this section shall be counted for all pu�oses except toward vesting of benefits. 4. The maximum credit under this section shall be five (5) years. -36- BSJ October 16,2012 H:\Tequesta PS 1011\Plan Docs&RuleslAmend1201212012 Restatement amend Opt Out of 185 investments and 538.wpd -37-