(A) Retirees under Chapter 185 of Florida Statutes or under the Police Pension Fund. Retirement compensation for retired members of the Hollywood Police Department, who retired under the provisions of the Hollywood Police Retirement Trust Fund, empowered by Chapter 185 of the Florida Statutes or under the provisions of the Police Pension Fund, which was in effect immediately prior to this subchapter, shall continue to receive pensions by this fund, which assumes all assets and liabilities of the Hollywood Police Officer's Retirement Trust Fund and the Police Pension Fund. Such pensions shall continue at the same rate as in effect immediately preceding this subchapter, and shall not be reduced or added to as provided by this subchapter.
(B) Legally adopted children. A legally adopted child shall have the same rights as a natural born child or children, but no pension shall be allowed to any stepchild or stepchildren of a deceased member.
(C) No offsets to widow(ers) and children's benefits. The pension payments to widow(ers) and/or children shall not be decreased or reduced due to benefits received by them under any Workers’ Compensation law.
(D) Special duty time. Any Member of the Police Department who is called or notified to report to duty, not on a regular work day or work schedule, shall be deemed to be on duty from the time of notification to report to duty, and should the member sustain injury or death in any manner while in route to Police Headquarters or any special assignment point, such injury or death shall be deemed to have occurred in the line of duty.
(E) Extra work details deemed duty time. Any member of the Police Department who accepts extra work details even though paid by any other person, company or corporation, shall be deemed eligible for death and disability benefits under this plan while on such details, provided such work details have the approval of the Chief of Police or other authorized member of the Police Department.
(F) Pension nonassignable. No pension provided for herein shall be assignable or subject to garnishment for debt or to other legal process, and no pension provided for herein shall be subject to any deductions or assessments by the city, nor shall any benefits hereunder be altered or modified in any respect due to the fact that any member may be the recipient of any benefits from any other pension or pension plan.
(G) Member contributions cease on retirement. Member contributions shall cease upon service or disability retirement.
(H) Minimum benefit, return of member contributions. Whenever any member in the service of the Police Department shall sever employment with the Police Department, either voluntarily, by discharge or by death from any cause, such member or the member’s estate shall be entitled to the return of all monies the member has contributed into this system together with accumulated interest on said sum at the rate of 3% per annum, compounded annually, computed until date of payment to the member, unless at the time of such discharge, voluntary severance or death, such member has qualified under the terms of this subchapter for a pension. In the event a member has qualified for a service retirement or disability pension, the minimum benefit payable to such member, the member’s beneficiary or estate shall in any event be an amount equal to the member’s contributions plus 3% interest.
(I) Continuous service credit.
(1) In computing any benefit based upon service, continuous service shall include all periods of time of actual work for which earnings were received by members in service of the Police Department, and notwithstanding anything to the contrary in this subchapter.
(2) In the event that the Board of Trustees may permit a former member of the system to "buy back" past service, such former member must return his or her withdrawn contributions with interest, as determined by the Board from time to time, not later than 90 days after his or her reemployment.
(J) Military service buy-back. A member may purchase up to a total of four years of credit for military service prior to employment, or prior service as a full-time municipal, county, state, or federal police officer which meets the definition of “police officer” as provided in this plan, or a combination of the two types of service. In the case of prior police service, the member shall certify that no retirement benefit is or will be paid on account of the prior police service. Members purchasing credit for prior service under this section shall pay the full actuarial cost of the credited service as determined by the actuary for the plan. Credited service purchased pursuant to this section shall not count toward a member’s vesting. The Board of Trustees shall provide uniform rules for the administration of this benefit.
(K) Dismissal from department, nonforfeiture of vested benefits. Members entitled to a pension shall not forfeit the same upon dismissal from the department, but shall be retired as herein prescribed.
(L) Gender reference. Reference to the word "his" shall also mean "her" wherever applicable and reference to the word "her" shall also mean "his" whenever applicable.
(M) Annual increase in benefits. Group One restored members and Group Two restored members employed on February 20, 2019 who did not participate in the DROP plan shall receive a 2% annual increase in benefits commencing three years after the date retirement benefits begin. Group One restored members and Group Two restored members employed on February 20, 2019 who participated in the DROP plan shall receive a 2% annual increase in benefits commencing upon the later of (i) separation of employment and (ii) three years after the member entered the DROP plan.
(N) Supplemental pension distribution. There shall be payable to eligible persons a supplemental pension distribution for each fiscal year in which the actual rate of investment return earned on fund assets exceeds the assumed rate of investment return on fund assets. The total amount of the supplemental pension distribution for a particular fiscal year shall be equal to the actuarial present value of future retirement benefits, as calculated on the eligible retirees' portion of the Fund's earnings attributable to assets apportioned to retiree benefit liability, multiplied by the excess (not to exceed 2%) of the actual rate of investment return over the assumed rate of investment return for the fiscal year. The Board of Trustees shall determine who is an eligible person and the specific amount to be paid to each eligible person; provided, however, that only those Group One restored members employed on February 20, 2019 and participating in either the DROP plan or the reformed planned retirement benefit on February 20, 2019 shall be eligible for the supplemental pension distribution.
(O) Use of state funds. Commencing on July 17, 2013, the state funds received by the city pursuant to F.S. Chapter 185 shall be used to offset city contribution requirements. In addition, all funds received by the pension plan prior to that date and held by the pension plan on that date shall be applied to reduce city contributions.
(P) Maximum benefits; tax qualification. No benefit shall be paid from the plan in excess of the maximum benefit permitted under Section 415(b), Internal Revenue Code. The plan shall be administered as a qualified plan under the terms of the Internal Revenue Code.
(Ord. O-91-82, passed 11-20-91; 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-2009-29, passed 9-16-09; Am. Ord. O-2011-27, passed 9-7-11; Am. Ord. O- 2013-18, passed 7-17-13; Am. Ord. O-2019-02, passed 2-20-19; Am. Ord. O-2023-03, passed 4-4-23)