Skip to code content (skip section selection)
For the purpose of this subchapter the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACTUARIAL EQUIVALENCE or ACTUARIALLY EQUIVALENT. Any benefit payable under the terms of this Retirement System in a form other than the normal benefit shall have the same actuarial present value on the date payment commences as the normal form of benefit. For purposes of establishing the actuarial present value of any form of payment all future payments shall be discounted for interest and mortality based on such rates of interest, mortality and other tables of experience as are necessary and recommended in the proper operation of the Retirement System on an actuarially sound basis as determined and adopted by the Board from time to time.
AGREEMENT. This subchapter setting forth the provisions of the retirement system.
AVERAGE MONTHLY EARNINGS. One-twelfth of the arithmetic average of annual earnings for the highest three years preceding the actual retirement or termination date of a member. For all firefighter members hired after May 27, 2014, the Average Monthly Earnings shall be based on the highest five years preceding the actual retirement or termination date of a member.
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 designation is in effect at the time of death of the member, or if no person so designated is living at that time, the Board shall make any required payments to the deceased member’s estate.
BOARD. The Board of Pension Trustees, which shall hold the plan assets for the city and shall supervise, administer, and manage the system herein provided and serve as trustee of the fund.
CITY. Pompano Beach, Florida; and the then currently sitting City Commissioners. The city shall have the responsibility for this retirement system and plan.
CONTINUOUS SERVICE. Uninterrupted service by a member (expressed as years and completed months), from the date he last entered employment as an employee until the date his employment is terminated by death, retirement, or discharge; however, the continuous service of any member shall not be deemed to be interrupted by the following.
(1) Any authorized leave of absence or vacation, provided all members similarly situated in similar circumstances are treated alike pursuant to uniform, nondiscriminatory rules.
(2) Any service, voluntary or involuntary in the armed forces of the United States, provided the member is legally entitled to reemployment under the provisions of the Universal Training and Service Act, and any amendments thereto, or any law applicable to such reemployment, and provided further, that the member returns to his or her employment within one year from the date of release from such active service.
(3) No credit for benefit computation purposes under the plan shall be allowed in any case in excess of six months wherein a member has been on an authorized leave of absence or vacation. As regards any member of the system as of August 15, 1972, his total years of continuous service from date of employment with the city to date of retirement or termination as a member shall be included for benefit computation purposes under the system.
COST OF LIVING ADJUSTMENT (COLA). A permanent increase in the retiree's monthly benefit calculated by multiplying the COLA amount by the retiree's existing monthly pension benefit immediately prior to the time the COLA takes effect.
EARNINGS. Basic wages and regular longevity bonuses paid to a member, excluding nonregular overtime for firefighter members, excluding nonregular overtime in excess of 25 hours per year for police officer members who retire on or after October 1, 2001, and excluding bonuses, but including the one-time lump sum 3.5% payment paid to firefighter members for Fiscal Year 2008/2009, and any other nonregular payments. The limitation on compensation for an “eligible employee” shall not be less than the amount which was allowed to be taken into account hereunder as in effect on July 1, 1993. “Eligible employee” is an individual who was a member before the first plan year beginning after December 31, 1995.
EFFECTIVE DATE. The date on which this section is effective.
EMPLOYEE. All regular and probationary employees of the city under the city's classification plan as in effect on October 1, 1972, as a member of the Fire Department, or as a member of the Police Department with the job title of dispatcher, patrolman, sergeant, lieutenant, captain, or chief. For this purpose, the term REGULAR EMPLOYEE shall include those who work for 20 hours or more per week and five months or more per year. In the event of amendment or modification of the classification plan, until this subchapter is amended specifically, EMPLOYEE shall mean all regular and probationary employees whose duties most nearly coincide with the duties of the classifications set forth above, including all sworn City employees transferred to the Broward County Sheriff's Office on August 1, 1999 via Resolution No. 99-223 and Ordinance No. 99-46, and excluding those whose duties most nearly coincide with the duties of the classifications excluded by the above definition, and excluding those in the Fire or Police Department having a civilian rank. When used herein, the term FIREFIGHTER shall mean any member of the Fire Department as defined above.
FISCAL AGENT. Any person or entity designated to serve as investment agent, or custodian of the fund of the retirement system.
FUND. The trust fund established herein as part of the plan.
MEMBER. An employee who fulfills the prescribed participation requirements.
PLAN ADMINISTRATOR and ASSISTANT PLAN ADMINISTRATOR. The then current and serving Chairman and Vice-Chairman, respectively, of the Board.
RETIRED. Retirees who are receiving monthly benefits from Police and Firefighters' Pension Plan or participating in the DROP.
RETIREE. A retired employee or, after the retired employee's death, the retired employee's survivor or beneficiary, who is receiving monthly benefits (normal retirement, early retirement, disability, or remainder of ten- year certain or survivor) from the Police and Firefighters Pension Plan. A DROP participant is considered a "retiree" for purposes of this subchapter. For purposes of this subchapter, a retired employee and, after the retired employee's death, the retired employee's survivor or beneficiary who is receiving monthly benefits on account of the retired employee's death, shall be considered the same retiree.
RETIREMENT DATE. The date the employee retired, entered the DROP, or if the employee died before retiring, the date of death.
(1) With respect to firefighters, the most recent annual actuarial valuation performed by the pension fund actuary and approved by the Pension Board of Trustees shows that the required city contribution for firefighters is less than zero and after payment of any variable cost of living adjustment remains less than zero; or shows that there is an actuarial gain attributable to firefighters sufficient to fully fund the cost of any variable cost of living- adjustment. The required city contribution may be found in the Discussion of Valuation Results section of the annual actuarial report. The actuarial gain attributable to firefighters may be found in the annual actuarial report in the exhibit entitled Liquidation of the Unfunded Actuarial Liability. Actuarial gains and losses for each year shall be determined based on the funding methods and actuarial assumptions used in the most recent annual actuarial valuation and shall include the cost of any minimum benefits required by law.
(2) With respect to police officers, the most recent annual actuarial valuation performed by the pension fund actuary and approved by the Pension Board of Trustees shows that the required employer contribution for police officers is less than zero and after payment of any variable cost of living adjustment remains less than zero; or shows that there is an actuarial gain attributable to police officers sufficient to fully fund the cost of any variable cost of living adjustment. The required employer contribution may be found in the Discussion of Valuation Results section of the annual actuarial report. The actuarial gain attributable to police officers may be found in the annual actuarial report in the exhibit entitled Liquidation of the Unfunded Actuarial Liability. Actuarial gains and losses for each year shall be determined based on the funding methods and actuarial assumptions used in the most recent annual actuarial valuation and shall include the cost of any minimum benefits required by law. This definition shall become effective as of October 1, 2006.
SURVIVING SPOUSE. A lawfully-wedded spouse, including a same-sex spouse lawfully recognized in the state in which the marriage took place, of the member at the time of the member’s death.
SYSTEM. The Pompano Beach Police and Firefighters’ Retirement System as contained herein and all amendments thereto.
(‘58 Code, § 11.39) (Ord. 72-59, passed 8-15-72; Am. Ord. 75-84, passed 9-16-75; Am. Ord. 80-30, passed 12-26-79; Am. Ord. 85-23, passed 2-5-85; Am. Ord. 93-50, passed 6-8-93; Am. Ord. 95-21, passed 11-22-94; Am. Ord. 96-27, passed 12-26-95; Am. Ord. 99-61, passed 7-27-99; Am. Ord. 2000-73, passed 9-12-00; Am. Ord. 2001-43, passed 3-13-01; Am. Ord. 2006-25, passed 2-28-06; Am. Ord. 2008-07, passed 10-23-07; Am. Ord. 2010-12, passed 11-24-09; Am. Ord. 2010-36, passed 6-22-10; Am. Ord. 2011-47, passed 6-14-11; Am. Ord. 2013-56, passed 5-14-13; Am. Ord. 2015-19, passed 1-13-15; Am. Ord. 2020-14, passed 12-10-19)