Loading...
POLICE OFFICER'S RETIREMENT SYSTEM
There is hereby established a Police Officer's Retirement System comprising a comprehensive amended retirement plan for the Police Officers of the city. The purpose of this plan is to establish amended terms and conditions under which retirement benefits will be provided to eligible employees of the city. The benefits under the plan shall be in addition to amounts received as Federal Social Security benefits, and shall also be in addition to benefits received by any member from any other private or public retirement system.
(Ord. O-91-82, passed 11-20-91; Am. Ord. O-2011-27, passed 9-7- 11; Am. Ord. O-2019-02, passed 2-20-19)
For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AVERAGE FINAL COMPENSATION. For purposes of Group One restored members and Group Two restored members only, AVERAGE FINAL COMPENSATION shall include the average of the member's highest three years of earnings preceding the actual retirement or termination date of such member. For purposes of Group Three members only, AVERAGE FINAL COMPENSATION shall include the arithmetic average of earnings for the 60 highest consecutive months of the last 120 months of credited service prior to retirement, termination, or death.
BENEFICIARY. The person or persons entitled to receive any 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 person so designated is living at that time, the beneficiary shall be the estate of the member.
BOARD. The Board of Trustees, which shall supervise, administer and manage the system herein provided.
CITY. The City of Hollywood, Florida.
CONTINUOUS SERVICE. Uninterrupted service by a member (expressed as years and completed months) from the date the member last entered employment as a Police Officer until the date the member’s employment shall be terminated by death, retirement or discharge, provided however, the continuous service of any member shall not be deemed to be interrupted by:
(1) Any authorized leave of absence, vacation or period of suspension, provided that all members similarly situated in similar circumstances shall be treated alike pursuant to uniform, non-discriminatory rules established by the Board. Such absences from employment duties shall not count towards benefit computation purposes unless ruled otherwise by the Board.
(2) Any service, voluntary or involuntary in the Armed Forces of the United States; provided further, the preservation and status of all rights and benefits under this subchapter as regards members serving in the Armed Forces of the United States shall be as specified in § 33.133 hereof.
(3) Any period of disability as approved by the Board.
CUSTODIAN. The entity chosen to serve as custodian of the fund established as part of the retirement system.
EARNINGS. For purposes of Group One restored members only, EARNINGS, also referred to as “compensation,” shall include salary, overtime pay not to exceed 300 hours per year, longevity pay, assignment pay, payments for accrued holiday time, payments for accrued blood time, and payments for accrued compensatory time, but shall not include payments for unused sick time or for unused vacation time. For purposes of Group Two Restored Members only, EARNINGS shall include salary, overtime pay not to exceed 300 hours per year, longevity pay, assignment pay, payments for accrued holiday time not to exceed 130 hours, payments for accrued blood time, and payments for accrued compensatory time, but shall not include payments for unused sick time or for unused vacation time. For purposes of Group Three members only, EARNINGS shall include salary, overtime pay not to exceed 200 hours per year, longevity pay, assignment pay, payments for accrued holiday time not to exceed 130 hours per year but shall not include payments for accrued blood time, annual “cash out” payments for vacation time, payments for accrued compensatory time, and payments for unused sick time or for unused vacation time.
FUND. The trust fund originally established and continued hereunder as part of the plan.
GROUP ONE RESTORED MEMBERS. Category consisting of members employed on February 20, 2019 who were hired on or before September 30, 2011 and will be eligible to retire on or before September 30, 2020 based on a normal retirement date of age 50 or 22 years of continuous service.
GROUP TWO RESTORED MEMBERS. Category consisting of members employed on February 20, 2019 who were hired on or before September 30, 2011 and will not be eligible to retire until after September 30, 2020 based on a normal retirement date of age 50 or 22 years of continuous service.
GROUP THREE MEMBERS. Category consisting of members who were hired after September 30, 2011.
INVESTMENT ADVISOR. Any person or entity designated to serve as investment agent and investment advisor for the fund.
MEMBER. All employees of the city classified as full-time Police Officers.
PLAN. This subchapter setting forth the provisions of the retirement system.
POLICE OFFICER. Any person who is appointed or employed full time by the city, who is certified or required to be certified as a law enforcement officer in compliance with F.S. § 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 certified 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, but does not include part-time law enforcement officers or auxiliary law enforcement officers as the same are defined in F.S. § 943.10(6) and (8), respectively.
SPOUSE or WIDOW(ER). The lawfully wedded wife or husband of a member of the Police Department at the time of the member’s death.
SYSTEM. The City Police Retirement System as contained herein and all amendments thereto.
(Ord. O-91-82, passed 11-20-91; Am. Ord. O-2007-15, passed 6-20- 07; Am. Ord. O-2011-27, passed 9- 7-11; Am. Ord. O-2015-22, passed 10-7-15; Am. Ord. O-2019-02, passed 2-20-19; Am. Ord. O-2023-03, passed 4-4-23)
(A) Conditions of eligibility.
(1) Active, non-retired employees who are members of the "Police Pension Fund, City of Hollywood", at the time of the adoption of this retirement system shall become members of this system.
(2) It shall be mandatory for any future Police Officer to become a member if at least 18 years of age and provided that:
(a) Such Police Officer satisfactorily completes all required medical examinations for a Police Officer of his classification as prescribed by the Board and the Police Department at the time of initial employment;
(b) Such Police Officer meets all other requirements of the city.
(c) The methods and procedures to be followed with regard to the above shall be determined by the Board.
(3) Police Officers who were previously employed by the city in a capacity other than as a Police Officer but who subsequently become members as defined herein shall be eligible for membership under this system; provided however, that for purposes of this system, continuous service shall include only that period of employment during which such persons are Police Officers as defined herein.
(4) A member may elect to purchase credit for the period of attendance at a basic recruit training program approved by the Criminal Justice Standards and Training Commission of the Florida Department of Law Enforcement while employed by the city and for any portion of the one year probationary period that predates October 12, 2015, by contributing 8% of his or her earnings for those periods, plus interest as determined by the Board, into the system. A member shall have until the date on which he or she makes application for retirement within which to make this election and to make the necessary contribution.
(B) Application. Each Police Officer shall complete an application form, within the time limit established by the Board, covering the following points, as well as such other points or items as may be prescribed by the Board:
(1) Such Police Officer's acceptance of the terms and conditions of this plan; and, if requested;
(2) Such Police Officer's designation of a beneficiary or beneficiaries.
(C) Change in designation of beneficiary. A member may from time to time change his or her designated beneficiary by written notice to the Board upon forms provided by the Board; no change of beneficiary shall be effective until such written notice has been received by the Board. Upon such change, the rights of all previously designated beneficiaries to receive any benefit under the plan shall cease. Notwithstanding the foregoing, a member who has entered the DROP plan created pursuant to § 33.128(E) shall be limited to a maximum of two such changes during his or her participation in the DROP plan and retirement. Similarly, a member who retires without participating in the DROP plan shall be limited to two such changes during his or her retirement. Any actuarial cost of a change in designation of beneficiary shall be fully paid by the member or retiree. The actuarial cost shall be calculated based on the remaining value, rather than the initial value, of the members or retiree's benefits under the plan. In no event shall a change in the beneficiary of a member who has entered the DROP plan or retired result in an increase of such members or retiree's benefit amount under the plan.
(Ord. O-91-82, passed 11-20-91; Am. Ord. O-98-06, passed 4-1-98; Am. Ord. O-2001-13, passed 5-2- 01; Am. Ord. O-2002-33, passed 9-18-02; Am. Ord. O-2007-15, passed 6-20-07; Am. Ord. O-2015-22, passed 10-7-15)
Loading...