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CITY OF CLERMONT
FIREFIGHTERS PENSION BOARD OF TRUSTEES
RESOLUTION NO. 6
A RESOLUTION OF THE CITY OF CLERMONT FIREFIGHTERS
PENSION BOARD OF TRUSTEES REQUESTING THE CITY COUNCIL
OF THE CITY OF CLERMONT, FLORIDA TO ADOPT AN ORDINANCE
TO AMEND THE CITY OF CLERMONT PENSION PLAN AS ADOPTED BY
ORDINANCE NO. 305-C ON FEBRUARY 27, 2001; PROVIDE FOR
CONFILICTING RESOLUTIONS; PROVIDE FOR PLAN BENEFIT
IMPROVEMENT LIMITATIONS; AND PROVIDE FOR AN EFFECTIVE
DATE.
WHEREAS, the City of Clermont Firefighters are presently provided pension benefits under
Ordinance No. 305-C adopted on February 27, 2001,
WHEREAS, the City of Clermont Firefighters Pension Board of Trustees desires to amend the
provisions of the City of Clermont Pension Plan;
NOW, THEREFORE BE IT RESOLVED BY THE CITY OF CLERMONT FIREFIGHTERS
PENSION BOARD OF TRUSTEES, THAT:
SECTION 1:
The following shall be added to Section E. (Credited Service) of the Adoption Agreement:
E. 1 Option of Purchasing Prior Credited Service:
Credited service shall also include credited service purchased by a member in
accordance with this section:
a. Participants who were employed in a position covered by the Plan prior to the
effective date of this resolution may purchase up to five (5) additional years
of credited service under the Plan for all or a portion of their previous full-time
employment with the federal government, including military service, or any
state, county, or city government other than the City of Clermont. Any
participant who elects, prior to three (3) months from the effective date of this
resolution, to purchase previous full-time employment with the federal
government, including military service, or any state, county, or city
government other than the City of Clermont, shall pay the full actuarial cost of
such credited service on or before six (6) months from the effective date of
this resolution in accordance with subsection (d) below.
b. Participants with a hire date after the effective date of this resolution may
purchase up to five (5) additional years of credited service at any time before
completing three (3) months of service with the City of Clermont; provided
the member has paid into the plan prior to completing six (6) months of
service, the full actuarial cost of such credited service as determined by the
plan actuary.
c. No additional service credit will be allowed if the participant is receiving or will
receive any other retirement benefit based on the prior government service.
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d. Payment for the purchase of credited service authorized in subsection
(E. 1) (a) and (b), above, shall be made in one of the following manners:
a. Cash lump sum payment.
b. Direct transfer or rollover of an eligible rollover distribution from a
qualified Plan.
Full payment for the purchase of past service credit must be made before
separation from City employment.
SECTION 2:
All resolution or parts of resolutions in conflict herewith be and the same are hereby repealed.
SECTION 3:
Plan benefit improvements provided by this resolution shall apply prospectively and shall not
apply to any Plan Member who has terminated employment or who has retired prior to the
effective date of this resolution.
SECTION 4:
That this resolution shall be effective immediately.
DONE AND RESOLVED BY THE CITY OF CLERMONT FIREFIGHTERS PENSION BOARD
OF TRUSTEES THIS 24TH DAY OF SEPTEMBER 2003.
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PAUL ANDERSON
CHAIRMAN
RICHARD BELL
SECRETARY