Ordinance 92-2810ORDINANCE NO. 92-2810
AN ORDINANCE OF THE CITY OF MIAMI BEACH,
FLORIDA AMENDING ORDINANCE NO. 88-2603, WHICH
CREATED A RETIREMENT SYSTEM FOR UNCLASSIFIED
EMPLOYEES AND ELECTED OFFICIALS, BY PROVIDING
FOR A PERIOD DURING WHICH A RETIREMENT
INCENTIVE WILL BE OFFERED TO QUALIFYING
EMPLOYEES; PROVIDING FOR REPEALER,
SEVERABILITY AND AN EFFECTIVE DATE.
WHEREAS, the City of Miami Beach, Florida; created a
retirement system known as the Retirement System for Unclassified
and Elected Officials of the City of Miami Beach with the passage
of Ordinance No. 88-2603 and as the same has been amended; and
WHEREAS, the City desires to reduce the number of employees
who qualify for membership in the retirement system; and
WHEREAS, such a reduction in employees may be accomplished on
a voluntary basis through the offer of an incentive to the current
employees to retire as provided below.
NOW, THEREFORE, BE IT DULY ORDAINED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA:
SECTION 1. That Ordinance No. 88-2603 be amended by adding
Section 5.10 which will read as follows:
5.10 Retirement Incentive
Commencing on the effective date of this Ordinance and for
sixty (60) days thereafter (the "Election Period"), an Employee who
is a Member ("Employee Member") of this system who meets one of the
criteria set forth below will have an irrevocable option to elect
one of the following:
111_ If an Employee Member, within the Election Period,
has attained the normal retirement date and completed
five (5) years of the creditable service (as defined in
Section 5.01 of the Ordinance as amended), said Employee
Member shall have the irrevocable option to retire during
the Election Period, and receive, as an inducement,
credit for two (2) years of additional creditable service
(at a normal service retirement allowance of four percent
(4%) per year), in addition to any creditable service the
Employee Member may have previously earned; or
(b) If an Employee Member, within the Election Period,
shall have completed five (5) years of creditable service
and is within two (2) years of the normal retirement
date, said Employee Member shall have an irrevocable
option to retire within the Election Period, and receive,
as an inducement, credit for two (2) years of additional
age in addition to the age previously attained by the
Employee Member.
SECTION 2. REPEALER
All Ordinances or parts of Ordinances in conflict herewith be
an the same are hereby repealed.
SECTION 3. SEVERABILITY
If any section, subsection, clause or provision of this
Ordinance is held invalid, the remainder shall not be effected by
such invalidity.
SECTION 4. EFFECTIVE DATE
This Ordinance shall take effect on the 18th day of
October , 1992.
PASSED and ADOPTED this 8th day o
1992.
ATTEST:
CITY CLERK ti%t/'Z_
1st reading 9/16/92
2nd reading 10/8/92
JCD/cnm
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Octobe
MAYOR
FORM APPROVED
LEGAL DEPT.
By
Date
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