Coral Springs |
Code of Ordinances |
Chapter 12. PENSIONS AND RETIREMENT |
Article II. GENERAL EMPLOYEES PENSION PLAN |
§ 12-8. Definitions.
As used in this article, and unless otherwise defined or required by the context, the following words and phrases shall have the following meaning:
(1)
Accrued benefit means the accrued benefit at any time shall be determined in the same manner as that for retirement at the normal retirement date except that continuous service and average monthly earnings shall be determined as of the date of termination or disability.
(2)
Accumulated contributions means a member's own contributions plus any interest credited thereto.
(3)
Average monthly earnings means one-twelfth ( 1/12 ) of the of the arithmetic average of annual earnings for the highest consecutive three (3) years of the ten (10) full years immediately preceding the actual retirement or termination date of a member.
(4)
Beneficiary means the person or persons entitled to receive benefits hereunder at the death of a member who has or have been designated in writing by the member and filed with the board. If no such designation is in effect at the time of death of the member, or if no person so designated is living at that time, or if no provision for an alternate or contingent beneficiary is otherwise provided or if no such alternate or contingent beneficiary is living at such time, the beneficiary shall be the member's estate.
(5)
Board means the board of trustees, which shall administer and manage the plan herein provided and serve as trustee of the fund.
(6)
City commission means the City Commission of the City of Coral Springs, Florida.
(7)
City means City of Coral Springs, Florida.
(8)
Continuous service means uninterrupted service (expressed as years and completed months), from the date a member last entered employment, until the date his or her employment shall be terminated by death, disability, retirement, resignation, or discharge; provided however, the continuous service of any member shall not be deemed to be interrupted by reason of:
a.
Temporary layoff, not exceeding six (6) months,
b.
Any authorized leave of absence with pay,
c.
Any authorized leave of absence with out pay but not exceeding six (6) months, or
d.
Military service in the U.S. Armed Forces, provided such member is re-employed within three (3) months following termination of such service.
No credit for benefits or vesting shall be allowed for any period of time due to leave of absence or military service in excess of one (1) year. All members similarly situated in similar circumstances shall be treated alike pursuant uniform, non-discriminatory rules and policies established by the board of trustees.
No credit shall be allowed for any period of time during which a general employee elects not to be a contributing member of the plan. However, those general employees who joined the plan when first eligible to do so shall receive credit from their date of employment.
(9)
Earnings means salary and wages excluding overtime and other special compensations including but not limited to sick leave, annual leave and compensatory leave paid upon separation from service.
(10)
Fund means the trust fund established herein as part of the plan.
(11)
General employee means any person (other than a police officer) who is employed on a full time basis, who has elected to participate in the plan and who is participating in the plan as of the effective date of this article.
(12)
Initial effective date means June 1, 1973.
(13)
Member means a general employee who fulfills the prescribed eligibility requirements.
(14)
Plan means the City of Coral Springs General Employees Retirement Plan as contained herein and all amendments thereto.
(15)
Plan anniversary date means October 1 of each year.
(16)
Plan year means the period from October 1 through September 30.
(17)
Spouse shall mean the lawful wife or husband of a member.
(Ord. No. 2001-105, § 1, 4-3-01; Ord. No. 2005-108, § 2, 4-19-05)