Ordinance 1866ORDINANCE NO. 1866
AN ORDINANCE AMENDING ORDINANCE NO. 845
OF "THE CODE OF THE CITY OF MIAMI BEACH.
FLORIDA."
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MIAMI
BEACH, FLORIDA:
SECTION 1. That Section 5C.01 of Ordinance No. 845 of
"The Code of the City of Miami Beach, Florida,"
be and the same is hereby amended to read as follows:
SECTION 2.
SECTION 3.
Attest:
"Section 5C.01.
Commencing as of April 23, 1970, employee
members who become eligible for benefits
under Sections 5A.03, 5A.04, 5A.08 or 5A.09
hereof shall be entitled upon retirement to
a retirement allowance which shall be two
and three-quarters percent (2 3/4%) of the
final average monthly earnings multipled by
the number of years of creditable service not
exceeding twenty-five (2 5) plus two percent (2%)
of such final average monthly earnings multiplied
by the number of years of creditable service in
excess of twenty-five (25), provided that the
retirement allowance shall not exceed eighty
percent (80%) of the final average monthly
earnings. In the event an employee member
retires on a service retirement allowance prior
to age fifty-five (55), he shall receive a reduced
retirement allowance which is the actuarial
equivalent of the retirement allowance beginning
at age fifty-five (55). An employee member
retiring under the provisions of Section 5C may
convert his retirement allowance into a joint
allowance of equivalent actuarial value in accordance
with provisions of Section 5A hereof, as if said
retirement allowance were payable under the
provisions of Section 5A, but subject to Section 5C.02.06.
All ordinances or parts of ordinances in conflict
herewith be and the same are hereby repealed.
This ordinance shall go into effect immediately
upon its passage and posting as required by law.
PASSED and ADOPTED this 3rd day of February , 1971 .
Z2e0a4LZVE-se.,__
City Clerk -Finance Director
1st reading
2nd reading
3rd reading
POSTED
- January 20, 1971
- January 20, 1971
- February 3, 1971
- February 5, 1971
Mayor
t.'
OFFICE OF CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
X01
STATE OF FLORIDA
COUNTY OF DADE:
I, RUTH B. ROULEAU, City Clerk and Finance Director in
and for the City of Miami Beach, Florida, do hereby certify that
Ordinance No. 1866 entitled:
AN ORDINANCE AMENDING ORDINANCE NO. 845, OF "THE
CODE OF THE CITY OF MIAMI BEACH, FLORIDA."
having been passed and adopted by the City Council of the City of
Miami Beach, Florida, has been posted by me in three conspicuous
places in the City of Miami Beach, one of which was at the door
of the City Hall in said City on the 5th day of
February, 1971
and that said Ordinance remained posted for a period of at least
thirty days in accordance with the requirements of the City Charter
of the said City of Miami Beach.
IN WITNESS WHEREOF I have hereunto set my hand and
affixed the official seal of the City of Miami Beach, Florida,
on this the 17th day of March, 1971.
City Clerk and Finance Director