ORDINANCE 908ORDINANCE N0. 29 -76 =908
AN ORDINANCE OF THE CITY OF SOUTH MIAMI,
FLORIDA, AMENDING SECTION 16 -13 AND SUB -
SECTION (1') OF SECTION (b') OF SECTION
16 -14 OF ARTICLE II OF CHAPTER 16 OF THE
CODE OF ORDINANCES OF THE CITY OF SOUTH
MIAMI BY CHANGING THE TIME WHEN CERTAIN
EMPLOYEES BECOME ELIGIBLE TO PARTICIPATE
IN THE PENSION PLAN AND BY CHANGING
CERTAIN REGULATIONS AS TO BASIC BENEFITS,
REPEALING ALL ORDINANCES OR PARTS OF
ORDINANCES IN ;CONFLICT THEREWITH, AND
PROVIDING WHEN THI'S 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
be, and the same is hereby amended to read as follows:
"Sec. 16 -13. Eligibility.
Each employee employed by the employer on or after
October 1 1965, may be a participant on the first
participation date after he has completed two (2)
years of credited service and has attained his
twenty -fifth (25) birthday._
Each employee who becomes an employee subsequent
to October ,l, 1973, may a participant on the
first Participation date after he has completed
six (6) months of credited service and has attained
his twentieth (20) birthday, provided that on or
before such participation date, he shall not have
attained his fifty - fifth (55) birthday,, or if the
employee is classified as a policeman he shall
not have attained 'his fiftieth (50) birthday."
Section 2. That Subsection (1) of Section (b) of
Section 16 -14 of Article II of chapter 16 of the Code of
Ordinances of the city of south Miami be and the same is
hereby amended to read as follows
"(1) BASIC BENEFIT: A Basic Benefit commencing at
his normal retirement date determined by multiplying
one and six- tenths per cent (1,6 %) of his final
average compensation by the number of his completed
years of credited service at his normal retirement
date excluding the first two (2) years of such
service and any additional service completed by him
prior to his twenty- fifth (25) birthday. However,
as to those participants who became an an employee
subsequent to October 1, 1973, there sh_Z11 on).v be
excluded the first six (6) months of such service
and any additional service completed by him prior
to his twentieth (20) birthday and /or additional
service completed by him prior to the time the said
employee became a participant."
Section 3. All Ordinances or parts of Ordinances
in conflict herewith be, and the same are hereby repealed.
Section 4. This Ordinance shall take effect
immediately at the time of its passage.
PASSED and ADOPTED this 21st day of September ,1976.
APPROVED:
L
MAYOR
Attest:
City Clerk
Passed on First Reading: 9/7/76
Passed on Final Reading: 9/21/76