§ 31. Definitions.

(1)

As used herein, unless otherwise defined or required by the context, the following words and phrases shall have the meaning indicated:

(a)

Actuarial Equivalent means a benefit or amount of equal value, based upon actuarial assumptions and an interest rate as determined by the Board of Trustees after advice by the Fund's Actuary.

(b)

Beneficiary means one or more persons, including a trust, named sequentially or jointly, who has or have been designated by the Member, on a form provided for that purpose, signed and filed with the Board of Trustees to receive a refund of member's accumulated contributions without interest or to receive the remainder of the 120 monthly payments, if payable, which may be payable. If no beneficiary is named in the manner provided herein, or if no Beneficiary designated survives the Member, the refund of contributions or remainder of the 120 monthly payments, if any, shall be paid by the Board of Trustees to the estate of such deceased Member, provided that the Board of Trustees, in its discretion, may direct that the commuted value of any remaining monthly benefits payments be paid in a lump sum. Each designation may be revoked by the Member by signing and filing with the Board of Trustees a new designation of beneficiary form.

(c)

Credited Service or creditable service means the aggregate number of years of actual or active service, and fractional parts of years of actual or active service, omitting intervening years and fractional parts of years when the firefighter may not have been employee by the City of Orlando as a firefighter. Credited Service shall include up to 5 years of time spent in the military service of the Armed Forces of the United States after March 12, 1999, if:

(i)

The firefighter is in the active employ of the City of Orlando as a firefighter immediately prior to such military service and leaves a position, other than a temporary position, for the purpose of voluntary of involuntary service in the Armed Forces of the United States.

(ii)

The firefighter is entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act.

(iii)

The firefighter returns to his or her employment as a firefighter of the City of Orlando within 1 year from the date of release from such active military service.

For purpose of calculating "actual service" for eligibility for cost of living increases pursuant to Section 19, military service after March 12, 1999 as defined herein shall be included. For purpose of calculating "active service" for DROP eligibility pursuant to Section 31(2), military service after March 12, 1999 as defined herein shall be included.

(d)

Firefighter or Member means an actively employed full-time person employed by the City of Orlando Fire Department, including his initial probationary employment period, who is certified as a Firefighter as a condition of employment in accordance with the provisions of 633.35, Florida Statutes, and whose duty it is to extinguish fires, to protect life and to protect property.

(e)

Joint Pensioner means that person designated by the member to receive benefits upon the death of the member when the member has elected the payment of benefits pursuant to Section 34(1)(c), "Optional Forms of Retirement Income".

(f)

Normal Retirement Date means that date in which the member actually attains ten (10) years of credited service and age 47, or that date in which the member actually attains twenty (20) years of credited service regardless of age, whichever comes first.

(g)

Plan year means the twelve (12) month period beginning October 1 and ending September 30 of the following year.

(h)

Retiree or retired member means a member who has separated from employment as a firefighter or who has entered DROP.

(i)

Retirement means a member's separation from employment as a firefighter with the City with eligibility for receipt of benefits under the system, or entry into the Deferred Retirement Option Plan (DROP).

(j)

Spouse means the lawful wife or husband of a Member at the time of pre-retirement death or retirement.

(2)

Masculine gender, where used herein, unless the context specifically requires otherwise, shall include both the feminine and masculine genders.

(Ord. of 1-14-2008, § 12, Doc. # 0801141004)