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O-2014-10 CITY OF CLERMONT ORDINANCE No. 2014-10 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CLERMONT,LAKE COUNTY,FLORIDA,AMENDING AND RESTATING THE CITY OF CLERMONT FIREFIGHTERS'PENSION TRUST FUND,AS ADOPTED BY ORDINANCE NO. 304-C; PROVIDING PLAN BENEFIT REVISIONS; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. WHEREAS,the City of Clermont Firefighters' are presently provided pension and certain other benefits under Ordinance No. 304-C and; WHEREAS,the City Council desires to restate the provisions of the Firefighters'Retirement Plan pursuant to the collective bargaining process; WHEREAS, the bargaining unit; pursuant to the collective bargaining process, agrees to allow the City to use one hundred (100 %)percent of the allowable annual Chapter 175 insurance premium tax revenues as determined by the pension plan actuary to fund the normal pension costs of this plan; SECTION 1. NOW, THEREFORE BE IT ORDAINED,by the City Council of the City of Clermont, Lake County, Florida that the following sections of the Firefighters' Retirement Plan Adoption Agreement shall be amended to read as follows: D. Salary Means the fixed monthly remuneration paid a Firefighter;where,as in the case of a Volunteer Firefighter, remuneration is based on actual services rendered, salary shall be the total cash remuneration received yearly for such services,prorated on a monthly basis. The remuneration paid a Firefighter by the employer for a plan year excludes bonuses. The amount of annual overtime compensation that may be included in the calculation of the participant's retirement benefit shall be limited to the first three hundred(300)hours of overtime paid per calendar year. The amount of the accrued unused sick or annual leave payment at retirement that may be included in the calculation of the participant's retirement benefit shall be the lesser of(a)the total value of accrued unused sick or annual leave that would have been paid to the participant based on years of service as of February 11, 2014 or (b) the actual amount of accrued unused sick or annual leave paid to the participant at retirement. 1 CITY OF CLERMONT ORDINANCE No. 2014-10 G. Benefit Amounts and Eligibility Gl)Normal Retirement Date A Participant's Normal Retirement Date shall be the first day of the month coincident with or next following the attainment of age 55 and 10 years of service or attainment of 20 years of service, regardless of age. K. Employee Contributions Members of the Plan shall be required to make regular contributions to the Fund in the amount of four(4%)percent of their salary/after tax, effective in the pay period beginning February 10, 2014. SECTION 2. Any portion of the City of Clermont Code or any ordinance or part thereof in conflict with this Ordinance is hereby repealed to the extent of such conflict. SECTION 3. Should any section or part of a section be declared invalid by any court of competent jurisdiction, such adjudications shall not apply or affect any other provision of this Ordinance, except to the extent that the entire section or part of the section may in separable in meaning and effect from the section to which such holding shall apply. SECTION 4. Plan benefit revisions provided by this Ordinance shall not apply to any plan member who has retired prior to February 11, 2014. SECTION 5. This ordinance shall be published as provided by law,and it shall become law and take effect upon its Second Reading and Final passage. 2 CITY OF CLERMONT ORDINANCE No. 2014-10 PASSED AND ADOPTED by the City Council of the City of Clermont, Lake County, Florida on this 11 to day of March, 2014. CITY OF CLERMONT 1; 411101 ; 'arold S. Turville, Jr., Mayor �n r `tea*+ W!laas' ATTEST: Tracy Ac oyd, City Cle A Approved as to a -- -gality: Di ' antzaris, City Attorney