Ordinance 73-1966ORDINANCE NO. 73-1966
AN ORDINANCE AMENDING ARTICLE 4, SECTION
4.02 OF ORDINANCE NO. 1901 PROVIDING FOR
THE CREATION AND MAINTENANCE OF A RETIRE-
MENT SYSTEM FOR GENERAL EMPLOYEES 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 4.02 of Article 4 of Ordinance No.
1901 of the City of Miami Beach, Florida, which
reads as follows:
"An Employee who becomes a Member as of the
effective date of this Ordinance pursuant to
Section 3.03 may, at his own option, elect to
acquire additional creditable service in respect
of his continuous service in the employ of the
City for which he received compensation and
which was rendered immediately prior to the
effective date of this Ordinance; provided that,
in order to acquire such additional creditable
service, such a Member must pay into the System,
within the first year of his membership, contribu-
tions at the rate of six per centum (6%) of his
compensation for the period immediately prior to
the effective date of this Ordinance for which
credit is acquired with interest at the rate per
annum, compounded annually, being allowed on
contributions of Members at the time such election
is made; and further provided that, if less than
all such years of his service is claimed as credit-
able service, only the part of such service rendered
immediately prior to the effective date of this
Ordinance shall be claimed. Any Employee who becomes
a Member of the System after the effective date of
this Ordinance may, at his own option, elect to
acquire additional creditable service in respect of
the period of his continuous service in the employ
of the City as a provisional or probationary employee
for which he received compensation and which was
rendered immediately prior to the date he became a
Member; provided that, to acquire such additional
creditable service, such Member must pay to the System,
within his first year of membership, the contributions
at the rate of six per centum (6%), without interest,
that would have been payable by him had he been a
Member during such period.
Be and the same is hereby amended to read as follows:
"(a) Any employee who becomes a Member of the System
after the effective date of this Ordinance may,
elect to acquire additional creditable service in
respect of the period of his continuous service in
the employ of the City as a provisional or probation-
ary employee for which he received compensation and
which was rendered immediately prior to the date he
became a Member; provided that, to acquire such
OFFICE OF CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI REACH, FLORIDA 33139
additional creditable service, such Member must
pay to the System, within his first year of
membership, the contributions at the rate of
six per centum (6%) of his compensation for the
period for which additional creditable service
is requested, without interest, that would have
been payable by him had he been a Member during
such period. The election to acquire creditable
service under this section shall be limited to
employees whose employment commenced prior to
effective date of this Ordinance.
(b) Each Member may, at any time prior to retire-
ment, elect to acquire additional creditable
service in respect of the period of his continuous
service in the employ of the City as a provisional
or probationary employee for which he received
compensation and which was rendered immediately
prior to the date he became a Member; provided that,
to acquire such additional creditable service, such
Member must pay to the System his contribution in
an amount equal to six per centum (6%) of the compen-
sation received by him for the period for which
additional creditable service is requested plus
interest compounded annually based on the regular
rate of interest in effect at the time election is
made to acquire such creditable service; and further
provided that, if less than all such years of his
service is claimed as creditable service, only the
part of such service rendered immediately prior to
his becoming a member shall be claimed."
SECTION 2. A11 Ordinances or parts of Ordinances in conflict
herewith be and the same are hereby repealed.
SECTION 3. This Ordinance shall go into effect immediately upon
passage and posting as required by law.
PASSED and ADOPTED this 19th day of September , 1973.
Attest:
Acting City Clerk
1st reading - September 5, 1973
2nd reading - September 19, 1973
POSTED - September 26, 1973
-2-
Mayor
_LS,u4
OFFICE OF CITY ATTORNEY -- 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139
STATE OF FLORIDA
COUNTY OF DADE:
I, ELAINE MATTHEWS,City Clerk, in and for the City of Miami Beach,
Florida, do hereby certify that Ordinance No.
73-1966 entitled:
AN ORDINANCE AMENDING ARTICLE 4, SECTION 4,02 OF
ORDINANCE NO. 1901, PROVIDING FOR THE CREATION
AND MAINTENANCE OF A RETIREMENT SYSTEM FOR GENERAL
EMPLOYEES 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 19th day of September, 1973,
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
7th day of November, 1973.
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City Clerk
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