For purposes of this subchapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACCUMULATED CONTRIBUTIONS. A member's own contributions without interest. For those members who purchase credited service with interest or at no cost to the system, any payment representing the amount attributable to member contributions based on the applicable member contribution rate, and any payment representing interest and any required actuarially calculated payments for the purchase of such credited service, shall be included in accumulated contributions.
ACTUARIAL EQUIVALENT. A benefit or amount of equal value, based upon the 1983 Group Annuity Mortality Table and an interest rate of 8% per annum, sex distinct.
AVERAGE FINAL COMPENSATION. For purposes of Tier 1 members, 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 Tier 2 members hired as firefighters prior to October 1, 2011, AVERAGE FINAL COMPENSATION shall include the arithmetic average of earnings for the five highest years of credited service prior to retirement, termination, or death. For purposes of Tier 2 members hired as firefighters on or after October 1, 2011, AVERAGE FINAL COMPENSATION shall include the arithmetic average of earnings for the five highest consecutive years of the last ten years of credited service prior to retirement, termination, or death. For both Tier 1 members and Tier 2 members, a year shall be 12 consecutive months.
BENEFICIARY. The person or persons entitled to receive benefits hereunder at the death of a member who has or have been designated in writing by the member and filed with the Board. A trust may be named as a beneficiary, with regard to DROP account distributions at the death of the member in the absence of any other living survivor, or in the case of an account held by a survivor, upon the death of that survivor. The trust may only be used to receive final distribution of any remaining DROP balance after the death of the member or named survivor. If no such designation is in effect, or if no person so designated is living, at the time of death of the member, the beneficiary shall be the estate of the member.
BOARD. The Board of Trustees, which shall administer and manage the system herein provided and serve as trustees of the Fund.
CITY. The City of Hollywood, Florida.
CODE. The Internal Revenue Code of 1986, as amended from time to time.
COMPENSATION. For purposes of Tier 1 members, COMPENSATION shall include wages, workers' compensation/supplemental compensation, cash conversion of holiday benefits, not more than 300 hours of overtime, 70% of the cash payment of accumulated, unused annual leave paid at the time of retirement or entry into DROP (applicable only to those employees hired on or before July 3, 2013), expense allowances, and educational incentive payments from the Insurance Commissioner's Trust Fund. Tier 2 members shall receive the same COMPENSATION as Tier 1 members, except that COMPENSATION for Tier 2 members shall include not more than 200 hours of overtime. For the purposes of this definition, the term ACCUMULATED, UNUSED ANNUAL LEAVE shall be capped at the amount reflected in the payroll records of the city for each member of the plan in the first full pay period of July 2013.
CREDITED SERVICE.
(1) The total number of years and fractional parts of years of service (computed in quarters with one to three months being one-quarter of a year, more than three but not more than six months being one-half of a year, more than six but not more than nine months being three-quarters of a year, and more than nine but not more than 12 months being one year as a Firefighter with member contributions, when required, omitting intervening years or fractional parts of years when such member was not employed by the city as a Firefighter. A member may voluntarily leave his or her accumulated contributions in the Fund for a period of five years after leaving the employ of the Fire Department pending the possibility of being reemployed as a Firefighter, without losing credit for the time that he or she was a member of the system. If a vested member leaves the employ of the Fire Department, his or her accumulated contributions will be returned only upon his or her written request. If a member who is not vested is not reemployed as a Firefighter with the Fire Department within five years, his or her accumulated contributions shall be returned. Upon return of a member's accumulated contributions, all of his or her rights and benefits under the system are forfeited and terminated. Upon any reemployment, a Firefighter shall not receive credit for the years and fractional parts of years of service for which he or she has withdrawn his or her accumulated contributions from the Fund, unless the Firefighter repays into the Fund the contributions he or she has withdrawn, with interest, as determined by the Board, within six months after his or her reemployment.
(2) The years or fractional parts of a year that a member serves in the military service of the Armed Forces of the United States, the United States Merchant Marine or the United States Coast Guard, voluntarily or involuntarily, after separation from employment as a Firefighter with the city to perform training or service, shall be added to his or her years of credited service for all purposes, including vesting, provided that:
(a) The member must return to his or her employment as a Firefighter within one year from the earlier of the date of his or her military discharge or his or her release from active service.
(b) The member is entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act (USERRA), (P.L.103353).
(c) The maximum credit for military service pursuant to this division shall be five years.
(3) Members 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 firefighter which meets the definition of "firefighter" as provided in this plan, or a combination of the two types of service. In the case of prior fire service, the member shall certify that no retirement benefit is or will be paid on account of the prior fire service. Members purchasing credit for prior service under this division 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.
EFFECTIVE DATE. October 1, 1988.
FIREFIGHTER. An actively employed full-time person employed by the city, including his or her initial probationary employment period, who is certified as a Firefighter as a condition of employment in accordance with the provisions of F.S. § 633.35 and whose duty it is to extinguish fires, to protect life and to protect property.
FUND. The trust fund established herein as part of the system.
MEMBER. A Firefighter who fulfills the prescribed membership requirements. Benefit improvements which, in the past, have been provided for by amendments to the system adopted by city ordinance, and any benefit improvements which might be made in the future shall apply prospectively and shall not apply to members who terminate employment or who retire prior to the effective date of any ordinance adopting such benefit improvements, unless such an ordinance specifically provides to the contrary.
PLAN YEAR. The 12-month period beginning October 1 and ending September 30 of the following year.
RETIREE. A former member who has entered retirement status.
RETIREMENT. A member's separation from city employment with eligibility for immediate receipt of benefits under the system.
SYSTEM. The City of Hollywood Firefighters' Pension System as contained herein and all amendments thereto.
TIER 1 MEMBER. A member as defined in this section hired as a Firefighter prior to July 16, 2009.
TIER 2 MEMBER. A member as defined in this section hired as a Firefighter on or after July 16, 2009.
(Ord. O-2010-30, passed 7-21-10; Am. Ord. O-2011-26, passed 9-7- 11; Am. Ord. O-2017-07, passed 5-3-17; Am. Ord. O-2019-08, passed 3-20-19)