ORDINANCE NO.1173 AN ORDINANCE OF THE CITY OF LYNN HAVEN AMENDING CHAPTER 50, PERSONNEL, ARTICLE IV, FIREFIGHTERS RETIREMENT SYSTEM, OF THE CODE OF ORDINANCES OF THE CITY OF LYNN HAVEN; AMENDING SECTION 50-149, SUPPLEMENTAL BENEFIT COMPONENT FOR SPECIAL BENEFITS CHAPTER 175 SHARE ACCOUNTS; PROVIDING FOR INCLUSION IN THE CODE; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND WHEREAS, the Board of Trustees of the City of Lynn Haven Firefighters' Retirement System has prepared this ordinance to amend the Plan, effective upon passage oft this ordinance; PROVIDING FOR. AN EFFECTIVE DATE. and WHEREAS, the passage of Ordinance 1158 on September 26, 2023, providing for a graduated vesting schedule necessitates an update tot the Share Plan provisions oft the Firefighters' Retirement System; and WHEREAS, the Board of Trustees of the City of Lynn Haven Firefighters' Retirement System believes that implementation ofthis ordinance is in the best interests oft the Plan members and the citizens of the City ofLynn Haven; and WHEREAS, passage of this ordinance will allow the City to retain more experienced NOW,THEREFORE, BEITENACTED BY THE CITY OF LYNNHAVEN, FLORIDA, SECTION1 1: That the City of Lynn Haven Firefighters' Retirement System, is hereby amended Firefighters; that; by amending Section 50-149, Supplemental Benefit Component for Special Benefits; Chapter 175 Share. Accounts, as: follows: Section 50-149. - Supplemental benefit component for special benefits; chapter 175 share accounts. (d). Forfeitures. Any member who has less than ten years ofs service credit and is not 100% vested in their accrued benefits and who is not otherwise eligible for payment of benefits after termination ofe employment with the city as provided for in subsection (e) shall forfeit his individual member share account. Forfeited amounts shall be Ordinance 1173 redistributed to the other individual member share accounts on each valuation date in an (e). Eligibilityfor benefits. Any member (or his beneficiary) who terminates employment as a firefighter with the city or who dies, upon application filed with the board, shall be entitled to bej paid the value ofhis individual member share account, amount determined in accordance with subsection (c)(I). subject to the following criteria: (1). Retirement benefit. a. A member shall be entitled to 100 percent oft the value ofhis share account if he has ten years of service credit and is 100 percent vested pursuant to section 50-129, upon normal or early retirement pursuant te-setion50126, or ift the member enters the DROP, upon termination b.Such payment shall be made as provided in subsection (f). ofemployment. (2) Termination benefit. a. In the event that ai member's employment as a firefighter is terminated by reason other than retirement, death or disability, he shall be entitled tor receive the value ofhis share account only ifhe has ten vearso of service credit and is 100 percent vested is-vested in accordance with b.Such payment shall be made as provided in subsection (f). section 50129. SECTION2: Ifany section, subsection, sentence, clause, phrase ofthis ordinance, or thej particular application thereof shall be held invalid by any court, administrative agency, or other body with appropriate jurisdiction, the remaining section, subsection, sentences, clauses, or phrases under SECTION 3: It is the intention of the City Council that the provisions of this Ordinance shall become and be made a part of the Code of Ordinances of the City; and that sections of this Ordinance may ber renumbered or relettered and the word 'ordinance" may be changed to "chapter", "section", "article", or such other appropriate word or phrase in order to accomplish such intentions; and regardless of whether such inclusion in the Code is accomplished, sections ofthis Ordinance may be renumbered or relettered and the correction oftypographical. and/or scrivener's errors which do not affect the intent may be authorized by thel Mayor or his designee, without need of! public hearing, by filing a corrected or recodified copy of same with the City Clerk. application shall not be affected thereby. Ordinance 1173 SECTION 4: All ordinances or parts of ordinances, resolutions or parts ofr resolutions in conflict SECTION 5: This Ordinance shall be effective upon passage and retroactive to October 1,2 2023. INTRODUCED AND PASSED on first reading, this Mday of JAuw2L-2025 PASSED AND. ADOPTED on second reading this 35"lay of SAuL-2025 herewith are hereby repealed to the extent ofs such conflict. aarlk ATTEST: ts VICKIE GAINER, CITY Am MANAGER 1/ f Coding: Words in strikeout type are deletions from existing text. Words inj underline type are additions. Ordinance 1173