House Bill 1091
CODING: Words stricken are deletions; words underlined are additions.
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:
14
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
1
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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
31
2
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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;
31
3
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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.
31
4
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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.--
31
5
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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.--
31
6
CODING: Words stricken are deletions; words underlined are additions.
Florida House of Representatives - 2000 HB 1091
115-196A-00
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.
24
25
26
27
28
29
30
31
7