(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)