HB 1023

1	A bill to be entitled
2	An act relating to the City of Tampa, Hillsborough County;
3	amending chapter 23559 (1945), Laws of Florida, as
4	amended; revising provisions relating to the pension fund
5	for general employees of the City of Tampa; clarifying
6	covered employees; revising the definition of "average
7	monthly salary," "pension credit," and "normal retirement
8	date" to provide for 6-year vesting; revising deferred
9	pension, early retirement, and disability retirement
10	provisions to provide for 6-year vesting; providing
11	additional cost-of-living adjustments; revising benefits
12	provisions regarding reemployment after termination to
13	provide for 6-year vesting; providing for 6-year vesting
14	for elective officers, department heads, and appointive
15	officers; revising the eligibility requirements for the
16	Deferred Retirement Option Program to provide for 6-year
17	vesting; adding a provision regarding limitations on
18	amounts of benefits; repealing all laws in conflict
19	herewith; providing an effective date.
20
21	Be It Enacted by the Legislature of the State of Florida:
22
23	Section 1.  Section 2, subsections (I), (K), and (L) of
24	section 4, section 9, subsection (A) of section 10, subsection
25	(A) of section 11, subsection (C) of section 13, section 15,
26	subsection (A) of section 17, and subsection (A) of section 22
27	of chapter 23559 (1945), Laws of Florida, as amended, are
28	amended, and subsection (G) is added to section 24 of said
29	chapter, to read:
30	Section 2.  Creation.
31	A pension fund is hereby created for all employees of the
32	City of Tampa, Florida, who are not now members of any other
33	pension fund for employees of the City of Tampa, Florida,
34	heretofore created by the Legislature of the State of Florida.
35	Section 4.  Definitions.
36	(I)  Average Monthly Salary.  The Average Monthly Salary
37	shall be determined by calculating the average of an Employee's
38	Salary for the highest 3 of the last 6 10 years of Continuous
39	Service ending on the date of retirement, and dividing by 12.
40	In the event an Employee does not have 6 10 years service at the
41	time his or her Average Monthly Salary is calculated, the
42	average for the highest 3 of the total number of years employed
43	shall be used for this definition.  If the Employee does not
44	have 3 years service, the average for years employed shall be
45	used.
46	(K)  Pension Credit.  Pension Credit shall refer to the
47	minimum number numbers of years necessary to have a vested
48	pension.  For the purposes of this Act, an Employee shall work 6
49	10 continuous years to earn Pension credit.
50	(L)  Normal Retirement Date.  This shall mean the date an
51	Employee qualifies for benefits under this Act.  For Division A
52	Employees the Normal Retirement Date shall mean the date an
53	Employee has both 6 10 years of Continuous Service and has
54	attained the age of 55 years.  For Division B Employees the
55	Normal Retirement Date shall mean the date an Employee has both
56	6 10 years of Continuous Service and attains the age of 62
57	years.
58	Section 9.  Deferred Pension.
59	(A)  Division A Employees.  Any Employee who has been in
60	the service of the City of Tampa for a period of not less than 6
61	10 years continuously who voluntarily terminates his employment
62	or is discharged may elect to allow the amount contributed to
63	the pension Fund to remain in said Fund, and upon attaining the
64	age of 55 years shall be entitled to a pension in an amount
65	equal to the Employee's Accrued Pension based upon the number of
66	years and months of actual Service.
67	(B)  Division B Employees.  Any Employee in Division B who
68	has worked for the City of Tampa for a period of 6 10 years
69	continuously who leaves the employ of the City either
70	voluntarily or by discharge, and who has not reached his 62nd
71	birthday, upon attaining his 62nd birthday, shall be entitled to
72	a pension equal to his Accrued Pension based upon the number of
73	years and months of actual Service.  However, if such Employee
74	was previously a member of Division A and elects to withdraw his
75	employee contributions in Division A, his period of Service as a
76	member of Division A shall not be used to qualify under this
77	subsection, or, if he otherwise qualifies, in computing his
78	pension, hereunder.
79	Section 10.  Early Retirement.
80	(A)  An Employee in Division B of this Plan, on or after
81	his 55th birthday, may elect to take an Early Retirement,
82	provided that he has been in the Service of the City of Tampa
83	for 6 10 continuous years.
84	Section 11.  Disability Retirement.
85	(A)  An Employee in Division A or Division B who has been
86	in the service of the City of Tampa for a period of not less
87	than 6 10 years, continuously who becomes totally and
88	permanently disabled physically or mentally, or both, from
89	further rendering useful and efficient service as an Employee
90	shall be entitled to immediately receive a monthly disability
91	pension equal to his Accrued Pension.
92	Section 13.  Cost-of-living adjustment.
93	(C)  Commencing January 1, 2000, and each January 1
94	thereafter, the pension benefit due each retired Employee or
95	beneficiary shall be adjusted as follows:
96	1.  For those retired Employees, and beneficiaries thereof,
97	in Division A, the amount of the monthly pension benefit due for
98	the 12-month period commencing on the adjustment date shall be
99	the amount of the retired Employee's or beneficiary's monthly
100	benefit being received on December 31 immediately preceding the
101	adjustment date plus an amount equal to 2 percent of such
102	benefit.  Commencing January 1, 2005, the 2-percent adjustment
103	amount provided for in this subparagraph (C)1. shall be revised
104	to 2.2 percent.
105	2.  For those retired Employees, and beneficiaries thereof,
106	in Division B, the amount of the monthly pension benefit due for
107	the 12-month period commencing on the adjustment date shall be
108	the amount of the retired Employee's or beneficiary's monthly
109	benefit being received on December 31 immediately preceding the
110	adjustment date plus an amount equal to 1 percent of such
111	benefit.  Commencing January 1, 2005, the 1-percent adjustment
112	amount provided for in this subparagraph (C)2. shall be revised
113	to 1.2 percent.
114	Section 15.  Reemployment After Termination.
115	(A)  Should any former Employee in Division A of the City
116	of Tampa who had participated in this Fund and had withdrawn his
117	contributions be reinstated or reemployed, said Employee may
118	receive credit towards retirement for any previous service under
119	the provisions of this Act, provided said Employee shall
120	redeposit in the pension Fund the amount refunded upon the
121	Employee's voluntary resignation or discharge and shall pay a
122	yearly interest rate as determined by the Board of Trustees upon
123	the amount so redeposited for the period of time elapsing
124	between receipt of the refunded moneys provided for herein and
125	redeposit of the same in the pension Fund.  In order to receive
126	credit for past service under this subsection, an Employee must
127	return to work with the City within 5 years of the date of
128	withdrawal of his contributions.  Employees who have already
129	received a refund on the effective date of this Act shall have 5
130	years from the effective date of this Act to be eligible to
131	repurchase past Service.  Such Employee cannot receive any
132	benefit under this Act unless he shall then serve continuously
133	for a period of 6 10 years.  Past Service in Division A
134	repurchased by a Division B Employee shall be treated as
135	Division B Service for the purpose of calculating benefits
136	subject to the minimum benefits specific in Section 8(B)2.
137	(B)  An Employee in Division B who terminates his
138	employment with the City or is terminated, if he is reemployed
139	with the City, shall receive credit for his past Service if he
140	returns to employment with the City within 5 years of his
141	voluntary termination or discharge.  However, the Employee shall
142	work 6 10 continuous years from his date of reemployment before
143	becoming eligible to receive any benefits under this Act.
144	(C)  An Employee in Division A or B who elects to take a
145	Deferred Pension as defined in Section 9 of this Act and
146	subsequently returns to employment with the City shall not
147	receive any additional benefits (in computing Average Monthly
148	Salary, Continuous Service, or otherwise) until he shall then
149	serve for a period of 6 10 continuous years from his date of
150	reemployment.  However, an Employee who earned a Deferred
151	Pension in Division A who returns to work with the City may have
152	either his Deferred Pension in Division A considered separate
153	and apart from his Service upon reemployment in Division B; (in
154	which case, he may receive his Division A benefits at age 55,
155	provided he is no longer in the employ of the City); or, he may
156	have his Service earned in Division A converted to Division B
157	Service subject to the minimum benefits of Section 8(B)2.  This
158	election shall be made at the date of retirement after
159	reemployment.
160	Section 17.  Officers.
161	(A)  Elective officers, department heads, and appointive
162	officers of the City shall participate in the pension or
163	retirement Plan.  Such elective officers, department heads, and
164	appointive officers shall have the same status for pension
165	purposes as permanent Employees; provided, however, the minimum
166	number of years necessary for an elective officer of the City to
167	have a vested pension under the plan and be eligible for the
168	Deferred Retirement Option Program set forth in section 22 of
169	this Plan shall be 8 continuous years of Service; and provided
170	further that any such elective officer, department head, or
171	appointive officer of the City who (1) shall have participated
172	in the pension or retirement Plan and acquired a vested right to
173	a deferred proportionate pension thereunder, (2) shall have at
174	the end of any term in office (a) unsuccessfully sought
175	election, (b) not been appointed, or (c) not declined
176	appointment to any office of the City, (3) shall have left his
177	contributions in the Fund if he was a member of Division A and
178	had contributed to the Fund, and (4) is or shall have been
179	subsequently elected or appointed to any office or employed in
180	any position in the City, shall resume his participation in the
181	Plan; and the period during which such person shall have been
182	out of office shall not constitute a break in Service, but no
183	creditable Service shall be allowed for such period.  Pensions
184	under this section shall be calculated in the same manner as any
185	pensions of Employees receiving retirement benefits who were
186	subsequently reemployed (section 16).
187	Section 22.  Deferred Retirement Option Program.
188	(A)  Eligibility.  In order to be eligible for the DROP
189	option, the member must meet the following eligibility criteria:
190	1.  The member must have attained the age of 55 years and
191	at least 6 10 years of continuous Service at the time the member
192	files an election under this section.  A member is eligible for
193	accumulations pursuant to the DROP for a maximum of 7 years.
194	2.  The member must meet all eligibility requirements for
195	pension benefits, other than separation from Service as an
196	Employee of the City.
197	3.  Upon electing to participate in the DROP, the member
198	shall submit on forms required by the City and the Board of
199	Trustees:
200	a.  An irrevocable written election to participate in the
201	DROP, specifying a DROP benefit calculation date.  The DROP
202	benefit calculation date is used to determine the DROP
203	calculation period, which commences on the DROP benefit
204	calculation date and ends on the earlier of the member's
205	separation from service or death;
206	b.  An irrevocable notice of employment termination to take
207	effect upon the expiration of the DROP calculation period;
208	provided that a DROP participant shall not be precluded from
209	voluntarily terminating employment with the City before the
210	expiration of the DROP calculation period, nor shall the City be
211	precluded from terminating such DROP participant's employment as
212	applicable due to disciplinary action, layoff, or other
213	separation in accordance with the applicable collective
214	bargaining agreement, civil service law, or other applicable
215	law;
216	c.  A properly completed application for longevity
217	retirement benefits to be calculated pursuant to Section 8 or
218	Section 10 as of the DROP benefit calculation date; and
219	d.  Any other information required by the Board of
220	Trustees.
221	4.  A member may only make one DROP election during the
222	member's lifetime.
223	Section 24.  Limitations on Amounts of Benefits.
224	(G)  Notwithstanding any other provision of this Plan,
225	benefits and limitations under this Plan shall satisfy all the
226	applicable provisions of Section 415 of the Code and the
227	regulations thereunder, which provisions and regulations are
228	incorporated by reference.
229	Section 2.  All laws or parts of laws in conflict herewith
230	are hereby repealed to the extent of such conflict.
231	Section 3.  This act shall take effect January 1, 2005.

CODING: Words stricken are deletions; words underlined are additions.