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

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