Ord. No. 23-90-1463ORDINANCE NO.23-90-1463
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA DELETING SECTION 16-16 (e)
"ADDITIONAL DEATH BENEFITS FOR BENEFICIARIES OF ELIGIBLE
EMPLOYEES WITH NOT LESS THAN FIFTEEN YEARS,CREDITED
SERVICE"FROM THE CODE OF ORDINANCES OFTHE
CITY OF SOUTH MIAMI,FLORIDA;PROVIDING FOR SEVERABILITY;
PROVIDING FOR ORDINANCES IN CONFLICT;AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS,section 16-16 (e)of the Code of Ordinances of the
City of South Miami,Florida provides inter alia:"An additional
death benefit shall be paid in a lump sum to the beneficiary designated
by eligible employees who have not less than fifteeo:.(15)years of
credited service",and
WHEREAS,the Mayor and City Commission desire to delete this
section from the Code of Ordinances,
NOW,THEREFORE,BEITORDAINEDBYTHEMAYORANDCITY COMMISSION OF
THECITYOFSOUTH MIAMI,FLORIDA:
Section 1.Section 16-16 (e)"Additional death benefit for
beneficiaries of eligible employees with not less than
fifteen years,credited service"be,and hereby is,deleted from
the Code of Ordinances of the City of South Miami,Florida.
Section 2.If any section,clause,sentence,or phrase of
this Ordinance is held to be invalid or unconstitutional by any
court of competent jurisdiction,then said holding shall in no
way affect the validity of the remaining portions of this
Ordinance.
Section 3.All Ordinances or parts of Ordinances in
conflict herewith be,and the same hereby are,repealed.
Section 4.This Ordinance shall take effect immediately at
the time of its passage.
ORDINANCE NO.23-90-1463
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA DELETING SECTION 16-16 (e)
"ADDITIONAL DEATH BENEFITS FOR BENEFICIARIES OF ELIGIBLE
EMPLOYEES WITH NOT LESS THAN FIFTEEN YEARS,CREDITED
SERVICE"FROM THE CODE OF ORDINANCES OFTHE
CITY OF SOUTH MIAMI,FLORIDA;PROVIDING FOR SEVERABILITY;
PROVIDING FOR ORDINANCES IN CONFLICT;AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS,section 16-16 (e)of the Code of Ordinances of the
City of South Miami,Florida provides inter alia:"An additional
death benefit shall be paid in a lump sum to the beneficiary designated
by eligible employees who have not less than fifteeo:.(15)years of
credited service",and
WHEREAS,the Mayor and City Commission desire to delete this
section from the Code of Ordinances,
NOW,THEREFORE,BEITORDAINEDBYTHEMAYORANDCITY COMMISSION OF
THECITYOFSOUTH MIAMI,FLORIDA:
Section 1.Section 16-16 (e)"Additional death benefit for
beneficiaries of eligible employees with not less than
fifteen years,credited service"be,and hereby is,deleted from
the Code of Ordinances of the City of South Miami,Florida.
Section 2.If any section,clause,sentence,or phrase of
this Ordinance is held to be invalid or unconstitutional by any
court of competent jurisdiction,then said holding shall in no
way affect the validity of the remaining portions of this
Ordinance.
Section 3.All Ordinances or parts of Ordinances in
conflict herewith be,and the same hereby are,repealed.
Section 4.This Ordinance shall take effect immediately at
the time of its passage.
*
PASSED AND ADOPTED this _£th day of Novemhpr .1990
APPROVED:
^^^Zifl J^f^zS--^-*'-
ATTEST:
CITYCLER
READ AND APPROVED AS TO FORM
CITY ATTORNEY
ORDINANCE NO.23-90-1463
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA DELETING SECTION 16-16 (e)
"ADDITIONAL DEATH BENEFITS FOR BENEFICIARIES OF ELIGIBLE
EMPLOYEES WITH NOT LESS THAN FIFTEEN YEARS,CREDITED
SERVICE"FROM THE CODE OF ORDINANCES OFTHE
CITY OF SOUTH MIAMI,FLORIDA;PROVIDING FOR SEVERABILITY;
PROVIDING FOR ORDINANCES IN CONFLICT;AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS,section 16-16 (e)of the Code of Ordinances of the
City of South Miami,Florida provides inter alia:"An additional
death benefit shall be paid in a lump sum to the beneficiary designated
by eligible employees who have not less than fifteeo:.(15)years of
credited service",and
WHEREAS,the Mayor and City Commission desire to delete this
section from the Code of Ordinances,
NOW,THEREFORE,BEITORDAINEDBYTHEMAYORANDCITY COMMISSION OF
THECITYOFSOUTH MIAMI,FLORIDA:
Section 1.Section 16-16 (e)"Additional death benefit for
beneficiaries of eligible employees with not less than
fifteen years,credited service"be,and hereby is,deleted from
the Code of Ordinances of the City of South Miami,Florida.
Section 2.If any section,clause,sentence,or phrase of
this Ordinance is held to be invalid or unconstitutional by any
court of competent jurisdiction,then said holding shall in no
way affect the validity of the remaining portions of this
Ordinance.
Section 3.All Ordinances or parts of Ordinances in
conflict herewith be,and the same hereby are,repealed.
Section 4.This Ordinance shall take effect immediately at
the time of its passage.
*
PASSED AND ADOPTED this _£th day of Novemhpr .1990
APPROVED:
^^^Zifl J^f^zS--^-*'-
ATTEST:
CITYCLER
READ AND APPROVED AS TO FORM
CITY ATTORNEY
•
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•
/
f 16-16 PENSIONS 8 16-17
(e)Additional death benefit for beneficiaries of eligible
employees with not less than fifteen years,credited service.
An additional death benefit shall bepaidina lump sum to
the beneficiary designated by eligible employees who have
not less than fifteen (15)years of credited service.The
amount of such death benefit shall be determined by
multiplying the amount of the monthly payment then being
received by the said participant,or,if the participant has
not yet retired,the amount of the monthly payment the said
participant was entitled to receive,by fifty (50).(Ord.No.
528,12-7-65;Ord.No.1088,§1,10-21-80)
j noty
[___parti
See.16-17.Termination of employment.
(a)If the employment of a participant is terminated ex
cept by retirement,transfer toineligible status ordeath,his
interest and rights under this plan shall be limited to those
contained in the following sections of this section.
(b)Any such participant shallbeentitledtoelectOption
1orOption2,asdescribedbelow,except that Option2shall
beautomaticaiy considered ashavingbeenelectedbythe
participant unlessOption1iselectedbeforethe participant's
normal retirement date.
Option I;Acashpaymentofanamountequaltotheag
gregate of the contributions made by the participant
prior tohis termination of employment with credited
interest compounded annually at the rate of three per
cent (3%)per annum from the end of the year of
payment to the first of the month in which the cash
payment is made.
Option2:Pension benefits commencing on what otherwise
would have been the normal retirement date of the
participant inan amount equaltothe greater of (a)
that which canbeprovidedbythe aggregate of the
contributions made by the participant prior to the ter
mination of his employment,with credited interest
compounded annually at the rate of three per cent
(3%)perannumfromtheendoftheyearof payment
Supp.No.40 22B3