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Ordinance No. 2024-040S CLER CITY OF CLERMONT d ORDINANCE N0.2024-040 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CLERMONT, LAKE COUNTY, FLORIDA, AMENDING THE CITY OF CLERMONT FIREFIGHTERS' PENSION TRUST FUND AT CHAPTER 28, ARTICLE IV OF THE CITY OF CLERMONT CODE; PROVIDING PLAN BENEFIT REVISIONS; PROVIDING FOR CONFLICT, SEVERABILITY, CODIFICATION, THE ADMINISTRATIVE CORRECTION OF SCRIVENERS ERROR, PUBLICATION AND AN EFFECTIVE DATE. WHEREAS, the City of Clermont Firefighters are presently provided pension and certain other benefits under Clermont City Code; Chapter 28, Article IV; WHEREAS, the City and the IAFF Local 4350 have agreed in collective bargaining to certain changes in Pension benefits and member contributions; and WHEREAS, the City Council desires to amend the provisions of the Firefighters' Retirement Plan to implement the collective bargaining agreement. NOW, THEREFORE BE IT ORDAINED, by the City Council of the City of Clermont, Lake County, Florida that: (note: strikethrough indicates removed words and underlined indicates added): SECTION 1. That Chapter 28, Pensions and Retirement, Article IV, Firefighters' Retirement Plan, Sec. 28-119(a), of the Code of Ordinances of the City of Clermont, is hereby amended to read as follows: Sec. 28-119. — Contributions. a. Member contributions. (1) Amount. (a) Member contributions will be made as follows: 1. Effective the first full Davroll period followins October 8. 2024 but not earlier than October 1. 2024. each member of the system are reauired to make regular contributions to the fund in the amount of 6.5%. a. Effective October 1. 2025. the contribution rate will be 7.5%. b. Effective October 1. 2026. the contribution rate will be 7.5%. however if the Citv's minimum contribution in the most recent actuarial valuation report (issued prior to 10/1/26) determines a contribution rate that is more than 35% of Davroll after chapter 175 monies are amlied. then emnlovee contributions will increase to 8.5%. d" CLER ' NT CITY OF CLERMONT Cad ORDINANCE NO.2024-040 2. Effective the first full payroll period following January 24, 2023, each member of the system was sha4l be required to make regular contributions to the fund in the amount of five and one-half (5.5%) percent of their salary. 3. Prior to January 24, 2023, each member of the system was required to make regular contributions to the fund in the amount of four percent of their salary. (b) Member contributions withheld by the city on behalf of the member shall be deposited with the board immediately after each pay period. The contributions made by each member to the fund shall be designated as employer contributions pursuant to Section 414(h) of the code. Such designation is contingent upon the contributions being excluded from the members' gross income for Federal Income Tax purposes. For all other purposes of the system, such contributions shall be considered to be member contributions. (2) Method. Such contributions will sWl be made by payroll deduction. SECTION 2. That Chapter 28, Pensions and Retirement, Article IV, Firefighters' Retirement Plan, Sec. 28-144, of the Code of Ordinances of the City of Clermont, is hereby amended to read as follows: See. 28-144. Deferred retirement option plan (DROP). (a) Definitions. The following words, terms and phrases, when used in this section, shall have the meanings ascribed to them in this subsection, except where the context clearly indicates a different meaning: DROP means the City of Clermont Firefighters' Retirement Plan Deferred Retirement Option Plan. DROP account means the account established for each DROP participant under subsection (c) of this section. (b) Participation. (1) Eligibility to participate. In lieu of terminating the member's employment as a firefighter, any member who is eligible for normal retirement under the system may elect to defer receipt of such service retirement pension and to participate in the DROP. (2) Election to participate. A member's election to participate in the DROP must be made in writing in a time and manner determined by the board and shall be effective on the first day of the first calendar month which is at least 15 business days after it is received by the board. S CLER CITY OF CLERMONT �d ORDINANCE NO.2024-040 (3) Period ofparticipation. Effective for DROP entries on or after October 1, 2024. a A member who elects to participate in the DROP under subsection (b)(2) of this section shall participate in the DROP for a period not to exceed 96 60 months beginning at the time the member's election to participate in the DROP first becomes effective. An election to participate in the DROP shall constitute an irrevocable election to resign from the service of the city not later than the date provided for in the previous sentence. A member may participate only once. DROP Participants who entered the DROP prior to October 1, 2024 are not eligible for this benefit. SECTION 3: CONFLICT All ordinances or parts of ordinances in conflict with any of the provisions of this Ordinance are hereby repealed. SECTION 4: SEVERABILITY If any portion of this Ordinance is declared invalid, the invalidated portion shall be severed from the remainder of the Ordinance, and the remainder of the Ordinance shall continue in full force and effect as if enacted without the invalidated portion, except in cases where such continued validity of the remainder would clearly and without doubt contradict or frustrate the intent of the Ordinance as a whole. SECTION 5: CODIFICATION The text of Section 1 and Section 2 of this Ordinance shall be codified as a part of the Clermont City Code. The codifier is authorized to make editorial changes not effecting the substance of this Ordinance by the substitution of "Article" for "Ordinance", "Section" for "Paragraph", or otherwise to take such editorial license. SECTION 6: ADMINISTRATIVE CORRECTION OF SCRIVENERS ERROR Regardless of whether such inclusion in the Code as described in Section 5 is accomplished, sections of the Ordinance may be re -numbered or re -lettered and the correction of typographical and/or scrivener's errors which do not affect the intent may be authorized by the City Manager or designee, without need of public hearing, by filing a corrected or re -codified copy of same with the City Clerk. SECTION 7: PUBLICATION AND EFFECTIVE DATE This Ordinance shall be published as provided by law and it shall become law and shall take effect immediately upon its Second Reading and Final Passage. CITY OF CLERMONT -4-M ORDINANCE NO.2024-040 PASSED AND ADOPTED by the City Council of the City of Clermont, Lake County, Florida on this 12th day of November 2024. CITY OF CLERMONT ------------- Tim Murry, Mayor ATTEST: Tracy Ackroyd Howe, M C City Clerk APPR D AS TO F RM LEGALITY: Daniel F. Mantzaris, City Attorney