2024-O-35 - Police Pension Plan 1b
ORDINANCE NO.2024-O-35
AN ORDINANCE OF THE CITY COUNCIL OF
EDGEWATER, FLORIDA, AMENDING THE CITY
OF EDGEWATER, FLORIDA POLICE OFFICERS'
PENSION PLAN; PROVIDING FOR. AMENDMENT
TO SECTION 4.05, BENEFITS UPON
REEMPLOYMENT AFTER RETIREMENT, TO
PROVIDE FOR CONTINUED RECEIPT OF
PENSION BENEFITS AFTER RETIREMENT UPON
REEMPLOYMENT; PROVIDING FOR
CONFLICTING PROVISIONS; PROVIDING FOR
SEVERABILITY AND APPLICABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, City of Edgewater sponsors a Police Officers' Pension Plan ("Plan") most
recently restated in Ordinance No.201 C-O-34;and
WHEREAS,the Board of Trustees desire to amend the Plan to provide for the continued.
receipt of pension benefits after retirement upon reemployment;and
WHEREAS,the Board of Trustees of the City of Edgewater Police Officers' Pension Plan
recommend adoption of this amendment to the Plan;and
WHEREAS,the City Council has received,reviewed,and considered an actuarial impact
statement describing the actual impact of the amendments provided for herein;
NOW THEREFORE,BE IT ENACTED by the City Council of the City--of Edgewater, -
Florida;
PART A. AMEND SECTION 4.05,BENEFITS UPON REEMPLOYMENT
AFTER RETIREMENT, OF ARTICLE IV, RETIREMENT BENEFITS OF
THE POLICE OFFICERS' PENSION PLAN
Section 4.05, Benefits Upon Reemployment After Retirement, is amended pursuant to
Exhibit"A",which is attached and incorporated herein.
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PART B. CON117LICTING PROVISIONS
All conflicting ordinances and resolutions, or parts thereof in conflict with this ordinance
are hereby superseded by this ordinance to the extent of such conflict.
PART C. SEVERABILITY AND APPLICABILITY
If any portion of this ordinance is for any reason held or declared to be unconstitutional,
inoperative,or void, such holding shall not affect the remaining portions of this ordinance. If this
ordinance or any provisions thereof shall be held to be inapplicable to any person, property, or
circumstances, such holding shall not aff"ect its applicability to any other person, property or
circumstance.
PART D. EFFECTIVE DATE
This ordinance shall take effect upon adoption.
PASSED AND DULY ADOPTED thiMhday of -2,0 024. A
71,
4/0 1C
Diezel DePew, Nhayo-r
ATTEST:
Bon-nie Zlotnik, CM�i, City Clerk
Passed on first reading on the day of ft I t, lt-'� 2024
REVIEWED AND APPROVED�,--
Aaron R. Woi", iYtAttomey
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EXHIBIT"A!
Section 4.05,Benefits Upon Reemployment After Retirement
To the extent permitted under the Internal Revenue Code regarding in-service
distributions the benefits otherwise payable under this Section to a Participant after
his Retirement Date shall not be suspended or reduced based on their re-
employment. if the Employer-r-ehir-es a Noieipaig after-his Refir-emeM DeAe, any
mefAly retirement bene-fit-he is Fee-el-ving shall step-. If he also becomes an Active
Participant, there shall be no duplication of benefits for him under this Plan. Any
death benefit from the Accrued Benefit he accrued during this latest period of
participation shall be determined as provided in DEATH BENEFITS SECTION of
Article V. The retirement benefit from such Accrued Benefit shall be payable
according to the provisions of Article IV and Article VI.
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Underlined passages are added.
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