House Bill 1091

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    Florida House of Representatives - 2000                HB 1091

        By Representative Frankel






  1                      A bill to be entitled

  2         An act relating to the City of West Palm Beach,

  3         Palm Beach County; revising language with

  4         respect to the West Palm Beach Police Pension

  5         Fund; revising language relating to early

  6         retirement; revising the provisions regarding

  7         optional forms of retirement income; revising

  8         the beneficiary provisions; revising the

  9         disability provisions; adding language imposing

10         penalties for false or misleading statements to

11         obtain benefits; providing an effective date.

12

13  Be It Enacted by the Legislature of the State of Florida:

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15         Section 1.  Paragraph (c) of subsection (8) of section

16  16 of chapter 24981, Laws of Florida, 1947, as amended, is

17  amended to read:

18         Section 16.  West Palm Beach Police Pension Fund.--

19         (8)  Age and service requirements for retirement.--

20         (c)  Early retirement.--Any member may retire from the

21  service of the department, with the consent of the city, as of

22  the first day of any calendar month which is prior to the

23  member's normal retirement date but subsequent to the date as

24  of which he or she has both attained the age of 50 and

25  completed 10 years of credited service.  In the event of early

26  retirement, the monthly amount of retirement income payable

27  shall be computed as described in paragraph (9)(a), taking

28  into account his or her credited service to his or her date of

29  actual retirement and his or her final average salary as of

30  such date.  The amount of retirement income shall be

31  actuarially reduced to take into account the member's younger

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    Florida House of Representatives - 2000                HB 1091

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  1  age and earlier commencement of retirement income benefits.

  2  In no event shall the early retirement reduction exceed 3

  3  percent for each year by which the member's age at retirement

  4  preceded the member's normal retirement age.

  5         Section 2.  Subparagraph 1.a. of paragraph (d) and

  6  paragraph (e) of subsection (9) of section 16 of chapter

  7  24981, Laws of Florida, 1947, as amended by chapter 93-373,

  8  Laws of Florida, are amended to read:

  9         Section 16.  West Palm Beach Police Pension Fund.--

10         (9)  Retirement pension calculation.--

11         (d)  Optional forms of retirement income.--

12         1.a.  In the event of normal, or early, or disability

13  retirement, in lieu of the normal form of retirement income

14  payable as specified in paragraph (c), and in lieu of the

15  death benefits as specified in subsection (17), a member, upon

16  written request to the board and submission of evidence of

17  good health (except that such evidence shall not be required

18  if such request is made at least 3 years prior to the date of

19  commencement of retirement income) and subject to the approval

20  of the board, may elect to receive a retirement income of

21  equivalent actuarial value payable in accordance with one of

22  the following options:

23         (I)  Lifetime option.--A retirement income of a larger

24  monthly amount, payable to the member for his or her lifetime

25  only.

26         (II)  Joint and survivor option.--A retirement income

27  of a modified monthly amount, payable to the member during the

28  joint lifetime of the member and a dependent joint pensioner

29  designated by the member, and following the death of either of

30  them, 100 percent, 75 percent, 66 2/3 percent, or 50 percent

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    Florida House of Representatives - 2000                HB 1091

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  1  of such monthly amounts, payable to the survivor for the

  2  lifetime of the survivor.

  3         (e)  Designation of beneficiary.--

  4         1.  Each member may, on a form provided for that

  5  purpose, signed and filed with the board, designate a

  6  beneficiary (or beneficiaries) to receive the benefit, if any,

  7  which may be payable in the event of the member's death; and

  8  each designation may be revoked by such member by signing and

  9  filing with the board a new designation of beneficiary form.

10  However, after the benefits have commenced, a retirant may

11  change his or her designation of a joint annuitant or

12  beneficiary only twice. If the retirant desires to change his

13  or her joint annuitant or beneficiary, he or she shall file

14  with the board a notarized notice of such change either by

15  registered letter or on a form as provided by the board.  Upon

16  receipt of a completed change of joint annuitant form or such

17  other notice, the board shall adjust the member's monthly

18  benefit by the application of actuarial tables and

19  calculations developed to ensure that the benefit paid is the

20  actuarial equivalent of the present value of the member's

21  current benefit.

22         2.  Absence or death of beneficiary.--If a deceased

23  member failed to name a beneficiary in the manner prescribed

24  in subparagraph 1., or if the beneficiary (or beneficiaries)

25  named by a deceased member predeceases the member, death

26  benefits, if any, which may be payable under this act on

27  behalf of such deceased member may be paid, in the discretion

28  of the board, to: in accordance with subsection (11)(g).

29         a.  The spouse or dependent child or children of the

30  member;

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  1         b.  The dependent living parent or parents of the

  2  member; or

  3         c.  The estate of the member.

  4         Section 3.  Effective for share account distributions

  5  made for calendar year 1998 from chapter moneys received in

  6  July 1999, paragraph (a) of subsection (13) of section 16 of

  7  chapter 24981, Laws of Florida, 1947, as amended by chapter

  8  99-483, Laws of Florida, is amended to read:

  9         Section 16.  West Palm Beach Police Pension Fund.--

10         (13)  Deferred Retirement Option Plan (DROP).--

11         (a)  Eligibility to participate in the DROP.--

12         1.  Any member who is eligible to receive an early or

13  normal retirement pension and who has either attained age 50,

14  regardless of credited service, or completed between 25 and 30

15  years of credited service, may participate in the DROP.

16  Members shall elect to participate by applying to the board of

17  trustees on a form provided for that purpose.

18         2.  Election to participate shall be forfeited if not

19  exercised within the first 27 years of combined credited

20  service. However, participation in the first years of

21  enactment will be extended to those members with 28 years of

22  service in 1992.

23         3.  A member shall not participate in the DROP beyond

24  the time of attaining 30 years of service and the total years

25  of participation in the DROP shall not exceed 5 years. For

26  example:

27         a.  Members with 25 years of credited service at time

28  of entry shall participate for only 5 years.

29         b.  Members with 26 years of credited service at time

30  of entry shall participate for only 4 years.

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  1         c.  Members with 27 years of credited service at time

  2  of entry shall participate for only 3 years.

  3         4.  Upon a member's election to participate in the

  4  DROP, he or she shall cease to be a member and shall no longer

  5  accrue any benefits under the pension fund, except for the

  6  benefits provided under subsection (11), Chapter 185 share

  7  accounts. For all fund purposes, the member becomes a

  8  retirant, except that a DROP participant shall continue to

  9  receive shares of the chapter moneys in accordance with

10  subsection (11), Chapter 185 share accounts. The amount of

11  credited service and final average salary shall freeze as of

12  the date of entry into the DROP.

13         5.  Notwithstanding any provision of this section to

14  the contrary, the police chief of the department may, at his

15  or her option, extend his or her participation in the DROP

16  beyond 5 years or 30 years of total service. For purposes of

17  this subsection, "police chief" means a member who has been

18  promoted from police officer through the ranks of the

19  department to the position of police chief. Any such police

20  chief shall not participate in the DROP beyond the attainment

21  of 33 years of service, and the total years of participation

22  in the DROP shall not exceed 8 years.

23         Section 4.  Subparagraph 1. of paragraph (d) of

24  subsection (16) of section 16 of chapter 24981, Laws of

25  Florida, 1947, as amended by chapter 93-373, Laws of Florida,

26  is amended to read:

27         Section 16.  West Palm Beach Police Pension Fund.--

28         (16)  Conditions applicable to all disability

29  retirants.--

30         (d)  Normal form of disability retirement income.--

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    Florida House of Representatives - 2000                HB 1091

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  1         1.  Duty or nonduty disability with 10 years of

  2  service.

  3         a.  Married member.--The standard form of disability

  4  retirement benefit for a married member or for a member with

  5  dependent children or parents shall be a disability pension

  6  and death benefit.  This form of benefit shall provide monthly

  7  payments for the life of the member as set forth in subsection

  8  (14) or subsection (15), as applicable, or the disability

  9  retiree may select optional forms of benefits in accordance

10  with paragraph (9)(d). Thereafter, death benefits shall be

11  paid as provided in subsection (17).

12         b.  Nonmarried member.--The standard form of disability

13  retirement benefit for a member who is not married or who does

14  not have dependent children or parents shall be a 10-year

15  certain benefit.  This benefit shall pay monthly benefits for

16  the member's lifetime.  In the event the member dies after his

17  or her retirement but before he or she has received disability

18  retirement benefits for a period of 10 years, the same monthly

19  benefit shall be paid to the beneficiary (or beneficiaries) as

20  designated by the member for the balance of such 10-year

21  period. In the absence of a designated beneficiary, then the

22  benefits will be paid to the estate of the retiree.

23         Section 5.  Paragraph (d) is added to subsection (33)

24  of section 16 of chapter 24981, Laws of Florida, 1947, as

25  renumbered by chapters 95-478 and 99-483, Laws of Florida, to

26  read:

27         Section 16.  West Palm Beach Pension Fund.--

28         (33)  Miscellaneous Requirements.--

29         (d)  False or misleading statements made to obtain

30  retirement benefits prohibited.--

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    Florida House of Representatives - 2000                HB 1091

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  1         1.  It is unlawful for a person to willfully and

  2  knowingly make, or cause to be made, or to assist, conspire

  3  with, or urge another to make, or cause to be made, any false,

  4  fraudulent, or misleading oral or written statement or to

  5  withhold or conceal material information to obtain any benefit

  6  under this plan.

  7         2.a.  A person who violates subparagraph 1. commits a

  8  misdemeanor of the first degree, punishable as provided in s.

  9  775.082 or s. 775.083, Florida Statutes.

10         b.  In addition to any applicable criminal penalty,

11  upon conviction for a violation described in subparagraph 1.,

12  a participant or beneficiary of this plan may, in the

13  discretion of the board of trustees, be required to forfeit

14  the right to receive any or all benefits to which the person

15  would otherwise be entitled under this plan. For purposes of

16  this sub-subparagraph, "conviction" means a determination of

17  guilt that is the result of a plea or trial, regardless of

18  whether adjudication is withheld.

19         Section 6.  All special laws and parts of special laws,

20  ordinances, or regulations, insofar as they are in conflict or

21  inconsistent with the provisions of this act, are repealed.

22         Section 7.  This act shall take effect upon becoming a

23  law.

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