ORDINANCE 954ORDINANCE NO. 37 -77 -954
AN ORDINANCE OF THE CITY OF SOUTH MIAMI,
FLORIDA, AMENDING SECTION 16 -13 OF
ARTICLE II OF CHAPTER 16 OF THE CODE OF
ORDINANCES OF THE CITY OF SOUTH MIAMI,
FLORIDA, BY ADDING A PROVISION PERMITTING
CERTAIN EMPLOYEES TO REJOIN THE PENSION
PLAN; REPEALING ALL ORDINANCES OR PARTS
OF ORDINANCES IN CONFLICT THEREWITH, AND
PROVIDING WHEN THIS ORDINANCE SHALL TAKE
EFFECT.
BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF SOUTH MIAMI, FLORIDA:
Section 1. That Section 16 -13 of Article II of
Chapter 16 of the Code of Ordinances of the City of ;South
Miami, Florida, be, and the same is hereby amended by adding
the following paragraph at the end thereof:
"An Employee who has received a cash
payment under Option 1 of Section
16 -17(b) may elect to participate in
the Plan upon meeting the following
requirements:
(a) Election to participate must be
made within 30 days of receipt
of notice of eligibility to
participate.
(b) Such Employee had received ,a cash
payment under Option 1 of Section
16-17(b).
(c) Such Employee pays to the Employer an
amount equal to the amount of cash
payment he received under Option 1
of Section 16- 17(b), plus credited .
interest compounded annually at the
rate of three percent (3%) per annum
from the date on which such cash payment
was made to the date of such repayment.
Participation under this Section will be
effcctive as of September 1, 1977. in
determining an Employee's Credited Service
at any future elate, there shall not be
included any service during which the
Employed was eligible to participate
under this 'Plan but did not."
tse r
All Crdiianeoa o. parts of Ordinances
in eonfl ict herewith be, and the Cate are hereby ropey led
Section 3. This Ordinance shall take affect
immediately at the time of its passage.
PASSED and ADOPTED this 2nd day of August ,1977.
APPROVED:
Mayor
Attest
City Clel - -%—
Passed on First Reading: 7/19/77
Passed on Second Reading: 8/2/77
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