§ 6. Service Requirements for Voluntary Retirement; Benefits upon Death of Retired Member.

(1)

For the purposes of this retirement plan, the following definitions shall apply:

a)

"Credited service" means personal service rendered the City of Orlando Police Department while a participant in this plan, together with qualifying military service, which shall be credited to each member's credited service account each plan year in accordance with rules established by the Board of Trustees. For purposes of benefit calculation, "year of service" shall include both full and fractional years of service, calculated on the appropriate fractional basis. In no event shall a member be credited with more than 1 year of service for all service performed during a plan year.

b)

"Average monthly salary" means one thirty-sixth of the total amount of salary paid a member for the member's last 3 years of credited service, or by one sixtieth of the total amount of salary paid a member for the member's five best years of the last ten years of service, whichever amount is greater. If the member does not have 3 years of credited service, average monthly salary is the aggregate amount of salary paid the member for the member's total period of credited service divided by the member's total period of credited service.

(2)

Any member of the Police Department who is employed by the police department on July 1, 2003, or initially becomes so employed after July 1, 2003, may retire after 20 years of credited service therein and shall receive and be paid a monthly pension of an amount equal to 70 percent of his average monthly salary. Said average monthly salary shall be determined by computing the average monthly salary for said member's last 3 years of service or by computing the member's average monthly salary for the five best years of the last ten years of service, whichever amount is greater. Provided, further, that in addition to the aforesaid 70 percent pension, a member who retires with more than 20 years' active service in the department shall receive 2 percent of said average monthly salary computed as stated herein for each full year of said service in excess of 20 years service. Said 2 percent increment shall be limited to 5 years of additional service.

(3)

Normal Form of Payment

(a)

Unmarried Member. The normal form of benefit payable to an unmarried member shall be an unreduced monthly payment for the life of the member, and if the member dies within ten years following retirement the same monthly payment shall be made to the member's designated beneficiary for the remainder of the ten year period following the member's retirement. Alternatively, the member may elect an optional form of payment described in subsection 9.

(b)

Married Member. The normal form of benefit payable to a married member shall be (1) an unreduced monthly payment for the life of the member, and if the member dies within ten years following retirement the same monthly payment shall be made to the member's designated beneficiary for the remainder of the ten year period following the member's retirement; or (2) a member may elect a single life annuity payable for the life of the member, and upon the member's death the benefits described in subsections (4) and (5) shall be paid to the member's widow or widower and children. Alternatively, the member may elect an optional form of payment described in subsection 9. If a member elects an optional form of payment described in subsection 9, the member's widow or widower and children shall not be eligible for the benefits set forth in Subsections (4) and (5).

(4)

Upon the death of such a retired married member who has not elected a normal form of benefit pursuant to subsection (b)(1) nor an optional form of payment pursuant to subsection (9), the widow or widower, if any, shall be entitled for the remainder of his or her natural life, subject to the provisions of sections 14 and 18 of this retirement plan, to a monthly pension equal to 75 percent of the pension amount payable to the retired member.

If the deceased retired married member who has not elected a normal form of benefit pursuant to subsection (b)(1) nor an optional form of payment pursuant to subsection (9), leaves a surviving child, in being who is the issue of such deceased retired member and his or her surviving widow or widower and who is under the age of 18 years, then and in that event 25 percent of the 75 percent widow or widower pension, provided for in this subsection, shall be paid to the widow or widower for and on behalf of said issue until said issue become ineligible under the provisions of section 14 of this retirement plan. Upon such ineligibility, the full 75 percent shall be paid to the widow or widower for her or his own account.

(5)

If a deceased retired member who has not elected a normal form of benefit pursuant to subsection (b)(1) nor an optional form of payment pursuant to subsection (9), leaves a surviving child in being who is under the age of 18 years and the issue of such deceased retired member and of a wife or husband of a marriage other than to the widow or widower, then and in that event 25 percent of the aforesaid 75 percent widow or widower pension shall be divided and paid, on a per capita basis, to:

a)

the legal guardian of said issue, for said issue, until said issue become ineligible under the provisions of section 14 of this retirement plan; and

b)

the widow or widower, for issue if any, said widow or widower and the deceased retired member may have had who survived said deceased retired member and who were in being and under the age of 18 years at the time of death. If the deceased retired member leaves no widow or widower surviving but does leave issue as aforesaid, the full 75 percent widow or widower pension shall be divided and paid on a per capita basis to the legal guardian of said issue, for said issue, until said issue become ineligible under the provisions of section 14 of this retirement plan.

(6)

Payments for any issue which shall cease pursuant to the provisions of section 14 of this retirement plan shall not have the effect nor serve to increase the payments to any other issue. Such amounts shall be paid to the widow or widower for as long as she or he remains eligible therefor.

(7)

Neither the Board of Trustees nor the City of Orlando or their authorized officials, employees or agents shall be liable or responsible in any way for identification or verification of the authenticity of widows or widowers, issue or guardians or changes in status thereof; moreover, without limiting the foregoing, to be entitled to be considered for said payments provided herein, proof of identification and authenticity of the widow or widower, issue and guardians, along with sufficient address and status information must be presented to the board in writing within 30 days of the death of said member and proof of changes therein presented to the board in writing within 30 days after the change. Without limiting the foregoing sentence, any widow or widower claiming entitlement under this section to an increase in pension on account of change in status of issue shall present in writing to said board proof satisfactory to the board of said change within 30 days thereafter. If said board decides that proof of any of the aforesaid changes has been satisfactorily shown to it in writing, the change of pension shall be made by said board effective with the next monthly payment due after said showing; provided, however, no change in pension payment or amount thereof shall be retroactive.

(8)

Notwithstanding anything in this chapter to the contrary, any active member of the police department who has completed 40 years of credited service shall receive in addition to the amount specified in subsection (1), an additional 2 percent per year of service for each year in excess of 40 years of service; provided, however, the total monthly benefit shall not exceed 100 percent of the average monthly salary used in calculating the member's pension benefit.

(9)

Description of Optional Forms of Payment. The value of each of the following forms of payment will be the actuarial equivalent of the benefit that would be payable to the member under the normal form of payment.

(a)

Single Life Annuity. The single life annuity is an enhanced monthly benefit in the amount determined, beginning on the member's benefit commencement date and payable throughout his or her lifetime, ending with the last payment due on the first day of the month preceding the month in which his or her death occurs.

(b)

Other Joint and Survivor Annuity Forms. The joint and survivor annuity is a reduced monthly benefit beginning on the member's benefit commencement date and payable to the member during the joint lifetime of the member and a joint annuitant designated by the member, and following the death of either of them, 100 percent, 75 percent, 66 2/3 percent, or 50 percent of such monthly amount payable to the survivor for the lifetime of the survivor. A member who has elected a joint and survivor form of benefit shall be permitted to change his or her joint annuitant as provided in Sections 185.161 and 185.341, Florida Statutes.

(Laws of Fla. ch. 22414(1943), § 12; Laws of Fla. ch. 61-2604, § 2; Laws of Fla. ch. 65-2025, § 6; Laws of Fla. ch. 72-632, § 2; Laws of Fla. ch. 75-462, § 5; Laws of Fla. ch. 88-517, § 12; Laws of Fla. ch. 95-482, § 6; Ord. of 6-24-2002, § 3, Doc. #020624704; Laws of Fla. 2003-339, § 2; Ord. No. 2017-22, § 2, 4-24-2017, Doc. #1704241202)