HomeMy Public PortalAbout1776 General Retirement AmendmentORDINANCE: 1776
AN ORDINANCE OF THE CITY OF CRESTVIEW, FLORIDA,
AMENDING ITS GENERAL RETIREMENT PLAN AS ESTABLISHED
BY ORDINANCE 780, AMENDING ITEM 1 A UNDER SECTION
5; PROVIDING FOR AUTHORITY; PROVIDING FOR REPEAL OF
CONFLICTING ORDINANCES; PROVIDING FOR SEVERABILITY;
AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City of Crestview, Florida established a General Retirement Pension System in September of
1992; and
WHEREAS, the City of Crestview has determined that, by contract agreements, certain Management
individuals may be exempt from participating in the General Retirement Pension System,
NOW, THEREFORE BE IT ORDAINED BY THE CVITY COUNCIL OF THE CITY OF
CRESTVIEW, FLORIDA;
SECTION 1 AUTHORITY. The authority for the enactment of this ordinance is contained in Chapter 166.021
F.S and Section 4.02 City Charter
SECTION 2: Section 5. Contributions, Item 1 Member Contributions, Item A of Ordinance 780 shall be
amended to read:
1. Member Contributions.
1. Amount. Members of the Retirement System shall be required to snake regular contributions to
the Fund in the amount of six and four tenths percent (6.4%) of his salary, except _for exceptions
outlined in Section 5. Contributions, Item I Member Contributions, Item C . Member
contributions withheld by the City on behalf of the Member shall' be deposited with the Board of
Trustees at least monthly. The contributions made by each member to the fund shall be
designated as employer contributions pursuant to 414(h) of the Internal Revenue code of 1986,
Such designation is contingent upon the contributions being excluded from the Members' gross
income for Federal Income Tax purposes. For all other purposes of the Plan, such contributions
shall be considered to be Member contributions.
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SECTION 3: Section 5. Contributions, Item 1 Member Contributions, Ordinance 780 shall be amended to
read:
C: The Citv Council of the Citv of Crestview, mav, as a factor in an Emplovment Agreement or Contract, ajzree
to pav all or part of the emplovee that is the subiect of the Emplovee azreement Contract contributions to the
Retirement fund. Such funds shall be treated as outlined in Section 5. Item I A.
SECTION 4: REPEALER. All ordinances or parts of ordinances in conflict with these changes are hereby
repealed to the extent of the conflict
SECTION 5 ; EFFECTIVE DATE. This ordinance shall take effect upon the Second Reading of the
Ordinance by the City Council of the City of Crestview.
PASSED AND ADOPTED ON SECOND READING BY TH CI Y COUNCIL OF CRESTVIEW,
FLORIDA ON THE 15 iil DAY OF ,�y , 2020.
ATTEST:
A""" >�t— � 'A
I ELIZAAETH M. ROY
City Clerk
APPROVED BY ME THIS
Cis
Jj�d WHITTEN
Mayor
l �3 �A DAY OF
2020.
Paae 83 of 108