The general administration and responsibility for the proper operation of the system and for making effective the provisions of this subchapter are hereby vested in a Board of Trustees consisting of seven members, as follows:
(A) One representative appointed by the Mayor of the city; one representative appointed by the City Commission; and five members of the Police Department, including DROP participants, who shall be elected by a per capita vote of all members of the Police Department who come within the purview of this subchapter. The Chief of Police shall be a nonvoting, ex-officio member of the Board. All qualified members entitled to vote shall be notified in person or by mail five days in advance of said election. Elections shall be held to replace the Trustees whose term of office expires at that time and the elected Trustees shall begin their term of office immediately, said term of office being two years, taking effect the first Monday after the election to office. The Board of Trustees must meet and organize and elect one of their members as Chairperson and one of their members as Secretary within ten days after being elected and duly qualified.
(B) If any vacancy occurs in the office of Trustee, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.
(C) Trustees may be reimbursed for all necessary expenses which they may actually expend through the services of the Board.
(D) Each Trustee shall, within ten days after appointment or election, take an oath of office before the City Clerk, that so far as it devolves upon the Trustee, he or she will diligently and honestly administer the affairs of the Board and that he will not knowingly violate or willingly permit to be violated, any provisions of the law applicable to the retirement system. Such oath shall be subscribed by the member making it and certified by the Clerk and filed in the Clerk’s office.
(E) Each Trustee shall be entitled to one vote on the Board. Four votes shall be necessary for a decision by the Trustees at any meeting of the Board. The Chairperson of the Board of Trustees shall have the right to one vote only.
(F) Subject to the limitations of this subchapter, the Board of Trustees shall from time to time establish rules and regulations for the administration of the funds created by this subchapter and for the transaction of its business, including provisions for the compulsory attendance of its members which shall have the force of law.
(G) It shall engage such actuarial and other services as shall be required to transact the business of the system. The compensation of all persons engaged by the Board necessary for the operation of the retirement system shall be paid at such rates and in such amounts as the Board of Trustees shall agree but in no case shall the expenditures for such services or operations exceed 3% of the maximum of the fund each fiscal year. All expenditures shall be authorized and disbursed by the Board of Trustees. The Secretary shall be bonded for $500. The premium of said bond shall be paid out of this fund.
(H) The Chief of Police of the city shall assign to the Board of Trustees, sufficient personnel, office space, equipment and stationery, at Police Headquarters to keep and maintain all records and transactions to permit the Board of Trustees to operate efficiently and exercise their powers and perform their duties.
(I) Each year on or before March 15, the Board of Trustees must submit to the Division of Retirement of the Department of Management Services in order for the fund to receive a share of the State Funds for the then current calendar year an annual report as required by F.S. § 185.221. The pension benefit improvements for ten years certain and life thereafter, normal retirement after 22 years of service, upgrade of benefits to 80% after 22 years, a maximum of 8 years' participation in the DROP plan, and the right to purchase additional benefits up to 8% of average monthly earnings contained in § 33.128 shall be deemed "minimum benefits" or "extra benefits," as those terms are used in F.S. Chapter 185, and the Board of Trustees shall report these improvements as "qualifying benefit improvements," on the "Actuarial Confirmation of the Use of State Moneys" page of the annual reports for the fiscal years ending September 30, 2006 and thereafter.
(J) The Board of Trustees shall publish annually in the city's budget report, a report for the preceding year showing a valuation of the assets and liabilities of the funds provided for by this subchapter as certified by the actuary, and a statement as to the accumulated cash and securities of the funds as certified by the City Comptroller and shall be set forth such other facts, recommendations and data as may be in advancement of knowledge concerning employee pensions.
(K) Any elected Trustee who neglects the duties of office shall be subject to recall by the members of the system. Such recall shall be conducted as follows:
(1) A petition containing the signatures of a majority of the members of the system and stating the name of the Trustee or Trustees and the specific allegations to warrant their recall shall be filed with the Chairperson of the Board.
(2) Trustee or Trustees against whom a petition of recall has been filed shall have 15 days in which to file a written rebuttal to any charges contained in the petition with the Chairperson of the Board.
(3) The Chairperson of the Board shall set an election by the members of the system 30 days subsequent to the filing by the Trustee complained against of the Trustee’s response or the conclusion of the 15-day period whichever occurs first, said election to be held by secret ballot at the offices of the City Clerk for a four day period to facilitate the ability of the members of the system to cast their ballots.
(4) When two-thirds of the members of the system vote to recall a Trustee, the seat shall be immediately declared vacant, and the recall of the Trustee or Trustees shall no longer serve.
(L) The Board of Trustees shall have the power to examine facts upon which any pensions are granted under this subchapter, and to ascertain if any pension has been granted erroneously, fraudulently, or illegally for any reason. Said Board shall also be empowered to purge the pension rolls of any pensions to the city Police Officers if same are found to be erroneous, fraudulent or illegal for any reason, and to reclassify any pensioner who, under this subchapter, is erroneously, improperly or illegally classified.
(Ord. O-91-82, passed 11-20-91; Am. Ord. O-2001-13, passed 5-2- 01; Am. Ord. O-2007-15, passed 6- 20-07; Am. Ord. O-2009-29, passed 9-16-09; Am. Ord. O-2019-02, passed 2-20-19)