POLICE OFFICER PENSION FUND

Orlando City Charter ch. 12, art. I

in effect

Orlando City Charter, ch. 12, art. I, § 1 Restatement of Orlando Police Pension Fund.

Sec. 1. - Restatement of Orlando Police Pension Fund. (1) The pension fund and retirement plan created for members of the City of Orlando Police Department by Laws of Fla. ch. 22414(1943), as amended, is hereby and herein restated for the purpose of obtaining a favorable letter of determination as to the qualified plan status pursuant to the applicable provisions of the Internal Revenue Code. (2) As to any member who shall have retired or obtained continuity of service or continuity of benefits under the provisions of Laws of Fla. ch. 22414(1943), as amended, said retirement or continuity of service or continuity of benefits is hereby confirmed and approved. (3) From and after the effective date of this act, the terms and provisions of this act shall govern and control the pension fund and retirement plan for members of the City of Orlando Police Department. (4) Each member of the department shall pay into the fund a maximum of 13 percent of his/her salary per month, such amount to be deducted from the member's salary and deposited by the City of Orlando to the credit of the Orlando Police Pension Fund; provided, however, that if the Board of Trustees of the Orlando Police Pension Fund should find that said 13 percent is unnecessary for the operation and performance of the terms and provisions of this act, the Board, by a majority vote of the members thereof, may reduce the 13 percent deduction to such lesser percentage as is reasonably necessary for the operation and performance of the terms and provisions of this act. For the purposes of this act, "salary" shall mean and include base pay, differential pay, longevity pay, incentive pay, and career development pay, but shall not include overtime pay, education advancement pay, firearms qualification pay, and any other form of compensation not specifically included above. (5) If, after imposition by the Board of Trustees of the maximum percentage of salary deductions established in subsection (4) combined with revenue received from the levy of the excise tax provided for in Florida Statutes ch. 185, and any other income received by the fund, the total fund is insufficient to meet the actuarial soundness requirements imposed by state law, the City shall pay annually into the pension fund that amount of money necessary to comply with the aforesaid requirements of state law. (Laws of Fla. ch. 22414(1943), § 1; Laws of Fla. ch. 72-632, § 1; Laws of Fla. ch. 75-462, § 1; Laws of Fla. ch. 84-492, § 1; Laws of Fla. ch. 88-517, § 12; Laws of Fla. ch. 95-482, § 1)

Orlando City Charter, ch. 12, art. I, § 2 Board of Trustees.

Sec. 2. - Board of Trustees. (1) A board of trustees of said fund is hereby created which board shall be known as the Orlando Police Pension Board of Trustees. The board shall consist of five members, two of whom, if otherwise required by law, shall be legal residents of the City of Orlando, who shall be appointed by, and serve at the pleasure of, the City Council; two of whom shall be full-time police officers as defined in Florida Statutes § 185.02, who shall be elected by a majority of the police officers who are members of the plan. The fifth member shall be chosen by a majority of the previous four members, and such person's name shall be submitted to the City Council which shall, as a ministerial duty, appoint such person to the board. Each trustee shall serve for a period of 2 years and may succeed himself in office. Trustees, having been appointed and elected in the manner herein provided and holding office as of July 1, 1989, shall continue in office until September 30, 1990; trustees appointed and elected to take office on October 1, 1990 shall serve for a period of 2 years as heretofore provided. A vacancy shall be filled in the same manner as hereinabove provided for the appointment or election of trustees. The board of trustees shall meet at least quarterly each year. The board of trustees shall be a legal entity with all powers and responsibilities conferred upon it by law including the power to bring and defend lawsuits of every kind, nature and description. The trustees shall, by majority vote, elect from their members a chairman, a vice chairman and a secretary. The secretary of the board shall keep a complete minute book of the actions, proceedings, or hearings of the board. The trustees shall not receive any compensation as such, but may receive expenses and per diem as provided by law. (2) The board of trustees is hereby authorized to promulgate rules and procedures for the conduct of the election of trustees as provided above to include, but not be limited to, location and hours of polling places, form of ballot, poll watchers, counting of ballots, certification of results, and challenges or protests to the election process or results thereof. (3) The board of trustees is hereby authorized to make and adopt such reasonable rules and regulations as may be necessary or convenient to carry out the duties of the board and activities of the retirement plan, including any rules and regulations necessary to preserve the status of the retirement plan as a qualified pension plan under the provisions of the Internal Revenue Code of the United States, as amended, or under successor or related provisions of law. (Laws of Fla. ch. 22414(1943), § 4; Laws of Fla. ch. 61-2604, § 1; Laws of Fla. ch. 84-492, § 4; Laws of Fla. ch. 89-458, § 4; Laws of Fla. ch. 95-482, § 2; Ord. of 6-24-2002, § 1, Doc. #020624704)

Orlando City Charter, ch. 12, art. I, § 3 Powers of the Board.

Sec. 3. - Powers of the Board. (1) The board shall be the trustees of the retirement plan and shall have all the powers necessary to carry out and effectuate the purposes and provisions of the retirement plan including, in addition to any specific powers provided for in the plan, the power: (a) To administer the retirement plan, including the management of the retirement plan and making effective the provisions of the retirement plan. (b) To administer oaths. (c) To create and maintain records. (d) To issue subpoenas to compel the production of evidence and the attendance of witnesses in connection with any hearings or proceedings of the board, such subpoenas being enforceable, and the failure to comply therewith being punishable, as provided by the laws of the State of Florida. (e) To make and adopt such reasonable rules and regulations as may be necessary or convenient to carry out the duties of the board and activities of the retirement plan, including any rules and regulations necessary to preserve the status of the retirement plan as a qualified pension plan under the provisions of the Internal Revenue Code of the United States, as amended, or under successor or related provisions of law. (f) To designate committees and to designate committee participants, including individuals who may not be participants in the retirement plan. (g) To designate an executive director and deputy executive director for the retirement plan. (2) The board shall have the power to promulgate rules, regulations, policies and procedures in connection with the application for hearing and determination of disability pensions, to include, but not be limited to, the form of the application and the form of medical questionnaires for completion by physicians. (3) The board shall have the power to and shall order the drawing and issuance of warrants, drafts and checks for payment from the assets of said fund for the benefits and pensions provided for and specified to be paid under the terms and provisions of this retirement plan and for payment of expenses incident to the administration of the plan, and shall invest said fund, except for deposits in banks as hereinafter mentioned, in the name of "The Board of Trustees of the Orlando Police Pension Fund" in interest-bearing securities or obligations fully guaranteed by the government of the United States as to both principal and interest, or in such investments as are from time to time approved by the comptroller of the State of Florida for purchase by state franchised banks and banking facilities, or in such investments as may be permitted by general law. (4) The board shall also be authorized to invest said fund in real estate or interests in real estate wherever situated or common stocks, preferred stocks, and other types of equity instruments issued by corporations organized and existing under the laws of the United States or of the several states, and any other form of investments which are not specifically prohibited by law. The board of trustees shall be empowered to enter into an agreement, in its discretion, with an insurance company, authorized to do business in the state of Florida, for the payment of the permanent disability benefits and survivor's benefits to be paid under the terms and conditions of this retirement plan. (5) The board shall also be empowered to enter into an agreement, in its discretion, with a bank, trust company, savings and loan association, investment management company, or insurance company, authorized to do business in the state, for the investment, management and/or administration of pension funds and the payment of pensions as provided under the terms and conditions of this retirement plan. (6) The board shall be and is hereby authorized to invest more than 5 percent of its assets in the common or capital stock of any one issuing company, to invest in such a manner that the aggregate investment in any one issuing company exceeds 5 percent of the outstanding capital stock of the company, and to invest more than 30 percent of the fund's aggregate assets at cost in equity instruments; provided, however, that in order to so invest, the board shall first receive concurrence and recommendation therefor from an independent consultant professionally qualified to evaluate the performance of professional money managers, which consultant shall be retained by the board to review on an annual basis such performance. (Laws of Fla. ch. 22414(1943), § 5; Laws of Fla. ch. 65-2025, § 2; Laws of Fla. ch. 73-572, § 2; Laws of Fla. ch. 80-562, § 1; Laws of Fla. ch. 81-452, § 1; Laws of Fla. ch. 84-492, § § 5, 16; Laws of Fla. ch. 89-458, § 2; Laws of Fla. ch. 95-482, § 3)

Orlando City Charter, ch. 12, art. I, § 4 Participant defined: effective date of retirement established.

Sec. 4. - Participant defined: effective date of retirement established. (1) For the purposes of this retirement plan, all sworn members of the Orlando Police Department who are employed and certified as law enforcement officers pursuant to Florida Statutes ch. 943 and employed on a permanent, full-time basis by the City in positions subject to withholding of federal income and FICA taxes regardless of duty assignment, are mandatory participants in this retirement plan, and are hereinafter referred to as "members" or "participants." (2) Any retirement under this plan, whether for service or disability, shall be effective the first day of the month following the last day the member is in an active pay status prior to retiring (or effective date of retirement for a BACKDROP participant). (Laws of Fla. ch. 22414(1943), § 2; Laws of Fla. ch. 73-572, § 1; Laws of Fla. ch. 95-482, § 4; Laws of Fla. 2003-339, § 1)

Orlando City Charter, ch. 12, art. I, § 5 Continuity of Service; Continuity of Benefits; Reinstatement.

Sec. 5. - Continuity of Service; Continuity of Benefits; Reinstatement. (1) Any member of the Police Department of the City of Orlando who was otherwise entitled to participate in the retirement plan created by Laws of Fla. ch. 22414(1943), shall be permitted to establish continuity of service and continuity of benefits by making the required regular contributions into the fund while such member of the Police Department is absent from duty because of the acceptance of an appointment as Director of Public Safety for the City of Orlando, or while absent from duty under leave of absence because of illness, injury, or any other approved leave of absence. (2) Any member of the Police Department of the City of Orlando who was otherwise entitled to participate in the retirement plan created by Laws of Fla. ch. 22414(1943), as amended, shall for pension purposes be permitted to establish continuity of service and continuity of benefits by combining or tacking prior pension fund participation in the event of transfer from the Fire Department to the Police Department; provided, however, that such member must have completed at least 10 years' participation in the police pension fund immediately prior to retirement in order to establish such continuity. (3) In the event a member of the Orlando Police Department severs his employment with said department, but is subsequently rehired, said member shall be reinstated in the pension program and accorded all provided rights therein; and shall receive credit for those years or fractional parts of years of service for the prior service with said department, provided said member repays into the pension fund that sum of money which said member was refunded at the time he severed employment with said department in addition to simple interest on that sum of money due for the period of the absence. An appropriate simple interest rate shall be determined by the Orlando Police Pension Board based on the investment earnings of the pension fund. The member shall have at least 90 days after his or her re-employment to make repayment. A police officer may voluntarily leave his or her contributions in the pension fund for a period of 5 years after leaving the employ of the police department, pending the possibility of being rehired by the same department, without losing credit for the time he or she has participated actively as a police officer. If the police officer is not reemployed as a police officer, with the same department within 5 years, his or her contributions shall be returned without interest. (Laws of Fla. ch. 88-517, § 24; Laws of Fla. ch. 88-541, § 1; Laws of Fla. ch. 95-482, § 5; Ord. of 6-24-2002, § 2, Doc. #020624704; Ord. No. 2017-22, § 1, 4-24-2017, Doc. #1704241202)

Orlando City Charter, ch. 12, art. I, § 6 Service Requirements for Voluntary Retirement; Benefits upon Death of Retired Member.

Sec. 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, 66⅔ 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)

Orlando City Charter, ch. 12, art. I, § 7 Vesting of Benefits; Benefits upon Death of Vested Member.

Sec. 7. - Vesting of Benefits; Benefits upon Death of Vested Member. (1) Any member of the Police Department, who has been in active service in the department for more than 10 years but less than 20 years and who is discharged or voluntarily separates from service in the department thereafter, may make an irrevocable election in writing to receive a monthly pension beginning at age 47, provided, however, that said election must be delivered in writing to the Board of Trustees within 30 days after separation or discharge. Said active service shall be measured backward starting from the date of separation or discharge. If said separated or discharged member is at the time of separation or discharge over the age of 47 and elects within 30 days in writing in the manner hereinabove provided to receive a pension, said pension shall begin at the date of separation or discharge. Said pension beginning at age 47 or older as herein provided shall require no future contributions by the person so qualifying. The amount thereof shall be determined by computing the average monthly salary for the member's last 3 years of service, and said member shall receive each month 2 percent of the average monthly salary for each year of service up to but not including 20 years. Upon reaching 20 years active service, said member shall be governed by the provisions of section 6 of this retirement plan. (2) If the member has not attained age 47 and dies after separation or discharge but before timely electing the pension or after the election but before the beginning of the pension, the widow or widower and issue under the age of 18 shall have no further rights hereunder to a pension or otherwise and shall only be entitled to receive the salary deductions the deceased member would have been entitled to elect upon separation or discharge if said member has not previously elected same. (3) If the member has attained the age of 47 at the time of separation or discharge and dies prior to making the timely election or, before dying attains said age during the election period and dies before making the election or dies after the election but before the beginning of the pension, the widow or widower and issue under the age of 18 years shall be entitled to receive a monthly pension based upon the member's years of service at time of separation or discharge in the manner and percentages set forth for a widow or widower and issue in section 6 of this retirement plan. (Laws of Fla. ch. 88-517, § 12; Laws of Fla. ch. 95-482, § 7)

Orlando City Charter, ch. 12, art. I, § 8 Disability Pensions in General.

Sec. 8. - Disability Pensions in General. (1) For the purposes of both sections 9 and 10 of this retirement plan, pertaining to disability pensions, the term "permanently and totally disabled" shall be construed to mean and include the loss of one or more limbs, loss of sight in one or both eyes, loss of hearing in one or both ears, and any other condition which renders the member unfit to perform the required duties of the member's rank held at the time of impairment. (2) A police officer will not be entitled to receive any disability retirement income if the disability is a result of: (a) Excessive and habitual use by the police officer of drugs, intoxicants, or narcotics; (b) Injury or disease sustained by the police officer while willfully and illegally participating in fights, riots, civil insurrections or while committing a crime; (c) Injury or disease sustained by the police officer while serving in any armed forces; (d) Injury or disease sustained by the police officer after employment has terminated; (e) Injury or disease sustained by the police officer while working for anyone other than the city and arising out of such employment. (3) Notwithstanding any other provision of this retirement plan, a disability pension may be denied by the Board of Trustees if it is determined that: a) the applicant is not totally disabled to do all of the functions which can be performed by members of his or her same rank; b) the applicant is able to do some of the functions which can be performed by members of his or her same rank; and c) the Chief of the Police Department is willing to permit the applicant to remain on the Orlando Police Department, performing limited duty with no reduction in pay or benefits. (4) If in any month a disability retiree receives both workers' compensation payments and disability pension benefits, a dollar-for-dollar offset will be made to disability pension payments otherwise due for any workers' compensation payments received; provided, however, the offset will not operate to reduce the total of workers' compensation payments and pension plan payments below 100 percent of the pensionable salary earned by the retiree on his or her last day of work for the Orlando Police Department; and provided further that no offset shall be made if the member is receiving benefits under Title 42 USCA Public Health and Welfare (Social Security) guidelines as disabled. For purposes of offset calculation when lump sum workers' compensation settlements are paid, the lump sum will be amortized over the period of allowable benefits, not to exceed 10 years. (Laws of Fla. ch. 88-541, § 1; Laws of Fla. ch. 95-482, § 8; Ord. of 6-24-2002, § 4, Doc. #020624704; Ord. No. 2017-22, § 3, 4-24-2017, Doc. #1704241202)

Orlando City Charter, ch. 12, art. I, § 9 Disability Pensions; Line of Duty.

Sec. 9. - Disability Pensions; Line of Duty. (1) Any active member of the police department who shall become permanently and totally disabled, if the disability is directly caused by and attributable to the performance of duty as a member of the department, shall be entitled to a monthly pension computed as though said member had completed a full 25 years of credited service pursuant to section 6 of this retirement plan. (2) Upon the death of such member while on disability pension pursuant to this section, a widow or widower and issue in being under the age of 18 years shall be entitled to a monthly pension in the manner set forth in section 6(2), (3), (4), (5), and (6) of this retirement plan. (Laws of Fla. ch. 22414(1943), § 9; Laws of Fla. ch. 75-462, § 3; Laws of Fla. ch. 82-345, § 2; Laws of Fla. ch. 95-482, § 9)

Orlando City Charter, ch. 12, art. I, § 10 Disability Pensions; Not in Line of Duty.

Sec. 10. - Disability Pensions; Not in Line of Duty. (1) Any active member of the police department who shall become permanently and totally disabled, if the disability was not directly caused by and attributable to the performance of duty as a member of the department and was not caused by the member's own imprudence, shall be entitled to a monthly pension as follows: (a) A member with less than 10 full years of credited service at time of impairment shall be entitled to receive an amount equal to 3 percent of the member's average monthly salary for each full year of credited service. (b) A member with 10 full years or more of credited service at time of impairment shall be entitled to 4 percent of the member's average monthly salary for each full year of credited service, provided, however, that said monthly pension shall not exceed 60 percent of the member's average monthly salary, subject to the provisions of paragraph (c). (c) A member with more than 20 full years of credited service at the time of impairment may exceed the 60 percent maximum specified in paragraph (b) and shall be entitled to a monthly pension equal to 60 percent plus 4 percent per year for each full year of credited service in excess of 20 years of credited service; provided, however, that in no event shall the pension exceed the maximum percentage provided for a member who retires after 25 years of credited service as provided in section 6 of this retirement plan. (2) Upon the death of such a retired member, the widow or widower, if any, shall be entitled for the remainder of her or his natural life, subject to the provisions of section 14 of this retirement plan, to a monthly pension equal to 65 percent of the pension amount payable to the retired member. (3) If the deceased retired member 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 65 percent widow or widower pension, provided for in subsection (2), shall be paid to the widow or widower for and on behalf of said issue until said issue becomes ineligible under the provisions of section 14 of this retirement plan. Upon such ineligibility, the full 65 percent shall be paid to the widow or widower for her or his own account, as provided in subsection (2). (4) If said deceased retired member 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 65 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 becomes 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 was 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 65 percent widow or widower pension shall be divided and paid on a per capital 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. (5) 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. (6) 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, issues 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, issues 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. (Laws of Fla. ch. 22414(1943), § 7; Laws of Fla. ch. 72-632, § 5; Laws of Fla. ch. 73-572, § 3; Laws of Fla. ch. 75-462, § 2; Laws of Fla. ch. 82-345, § 1; Laws of Fla. ch. 89-458, § 7; Laws of Fla. ch. 95-482, § 10)

Orlando City Charter, ch. 12, art. I, § 11 Death Benefits in Line of Duty.

Sec. 11. - Death Benefits in Line of Duty. If any active member of the police department shall lose his or her life in the performance of duties as a member of said department, or as a direct result thereof, the widow or widower, if any, and issue in being under the age of 18 years, if any, shall be entitled to a monthly pension in the manner as set forth in section 6(2), (3), (4), (5), and (6) of this retirement plan and computed as though the member had completed a full 25 years of credited service. (Laws of Fla. ch. 22414(1943), § 8; Laws of Fla. ch. 65-2025, § 3; Laws of Fla. ch. 72-632, § 6; Laws of Fla. ch. 95-482, § 11)

Orlando City Charter, ch. 12, art. I, § 12 Death Benefits; Not in Line of Duty.

Sec. 12. - Death Benefits; Not in Line of Duty. (1) If any active member of the police department who has completed at least 10 or more years of credited service in the department dies from causes unconnected with and not as a direct result of the performance of duties as a member of said department, the widow or widower, if any, and surviving issue in being under the age of 18 years, if any, shall be entitled to a monthly pension in the manner as set forth in section 10(2), (3), (4), (5), and (6) of this retirement plan. (2) If the active member, at the time of his death, shall have been eligible to retire under section 6 of this retirement plan and otherwise entitled to elect and then receive the pension benefits provided thereunder, and the pension benefits accorded a widow or widower and issue in being under the age of 18 years under section 6 of this retirement plan would be greater than the benefits accorded such widow or widower and issue under section 10 of this retirement plan, then and in that event the member shall be deemed to have retired pursuant to section 6 of this retirement plan and such widow or widower and issue shall be entitled to the higher benefits accorded under section 6 of this retirement plan. (3) If an active member of the police department has completed less than 10 years of credited service at the time of death from causes unconnected with and not as a direct result of the performance of duties as a member of the department, a widow or widower shall be entitled to receive only a refund of the member's salary deductions. (Laws of Fla. ch. 22414(1943), § 10; Laws of Fla. ch. 67-1835, § 1; Laws of Fla. ch. 72-632, § 8; Laws of Fla. ch. 75-462, § 4; Laws of Fla. ch. 95-482, § 12)

Orlando City Charter, ch. 12, art. I, § 13 Deceased Member Without Widow or Widower or Issue; With Dependent Parents; Without Dependent Parent or Designated Receiver.

Sec. 13. - Deceased Member Without Widow or Widower or Issue; With Dependent Parents; Without Dependent Parent or Designated Receiver. (1) If a deceased member of the police department, active or retired, leaves no widow or widower surviving and leaves no surviving child in being who is the issue of such deceased member and under the age of 18 years, but does leave a mother or father surviving who is entirely dependent upon such member for support, such mother or father shall receive the same total pension to which a surviving spouse would have been entitled, unless and until such dependent mother or father becomes self-supporting, dies, or remarries. (2) If a deceased member has not received any retirement moneys under the terms and provisions of this retirement plan and leaves no surviving widow or widower, child who is the issue of such deceased member and under the age of 18 years, or dependent mother or father, then one-half of the amount deducted from the member's salary up to the effective date of Laws of Fla. ch. 72-632, § 3, as amended, and all of said deductions made thereafter, shall be paid to that certain individual who has previously been designated in writing by the deceased member to receive such deductions. The written designation, signed and dated by the member, shall be filed with the secretary of the pension board and shall indicate only one individual. Said designation may be changed by the member at any time prior to death. (3) If the deceased member leaves no surviving widow or widower, child who is the issue of such deceased member and under the age of 18 years, no dependent mother or father, and no individual designated to receive the member deductions, then and in that event the amount of the deductions from the member's salary as set forth in subsection (2) shall be paid to the deceased member's estate. (Laws of Fla. ch. 22414(1943), § 13; Laws of Fla. ch. 74-555, § 1; Laws of Fla. ch. 95-482, § 13)

Orlando City Charter, ch. 12, art. I, § 14 Payment to Widow or Widower and Child.

Sec. 14. - Payment to Widow or Widower and Child. (1) Any pension paid under the terms and conditions of this retirement plan to any widow or widower shall cease upon the remarriage of such widow or widower; provided, however, a pension payment to a widow or widower of a member killed in the line of duty shall not cease upon remarriage. No pension shall be paid under the terms and provisions of this retirement plan to any widow or wife or widower or husband unless such survivor was the lawful wife or husband of the deceased member at the time said member was placed on pension. This shall not be construed to mean that the pension provided for surviving issue of a deceased member shall cease by virtue of the remarriage of the surviving spouse, but such pension shall continue until the occurrence of one or more of the events mentioned in subsection (2). (2) Any benefits paid under the provisions of this retirement plan for any child shall cease when and if such child dies, becomes self-supporting, marries, or reaches the age of 18 years. (Laws of Fla. ch. 22414(1943), § 14; Laws of Fla. ch. 95-482, § 14)

Orlando City Charter, ch. 12, art. I, § 15 Pension and Contributions Not Assignable or Subject to Garnishment, Execution, Levy, or Attachment; Exceptions.

Sec. 15. - Pension and Contributions Not Assignable or Subject to Garnishment, Execution, Levy, or Attachment; Exceptions. (1) Except as provided in subsections (2) and (3), none of the moneys, pensions, accumulated contributions or other benefits mentioned in this retirement plan shall be assignable, either in law or in equity, or be subject to execution, levy, attachment, garnishment, or other legal process. (2) The right of a member to a pension, to the return of accumulated member contributions, or to any other benefit under the provisions of this retirement plan shall be subject to award by a court of competent jurisdiction pertaining to alimony or child support, if so provided under applicable Florida law. If an award or order requires the retirement plan to withhold payment of a pension, accumulated member contributions, or other benefit from the person to whom it is due, or requires the retirement plan to make payment to a spouse, former spouse, or child, the withholding or payment provisions of the award shall be effective only against the amounts as they become payable to the individual being paid the pension or other benefit. These limitations shall not apply to accumulated member contributions of an individual who is neither a participant or a vested former participant. (3) A member may assign, to the City or the Orlando Federal Credit Union, the right to a refund of accumulated member contributions in the event of termination of participation. (Laws of Fla. ch. 22414(1943), § 15; Laws of Fla. ch. 95-482, § 15; Ord. of 6-24-2002, § 5, Doc. #020624704)

Orlando City Charter, ch. 12, art. I, § 16 Disability Pensioner; Enhanced Pension for Retraining.

Sec. 16. - Disability Pensioner; Enhanced Pension for Retraining. (1) After a disability pension has been granted by the board of trustees, a disability pensioner may voluntarily elect to receive a sum equal to one and a half times the amount he or she would otherwise receive for up to a maximum of 4 years to allow said pensioner to undertake retraining via vocational, technical, or college education and entry into another field of endeavor. Upon entry into another gainful occupation, the pensioner shall revert to the regular amount of disability pension which he or she shall be entitled to draw until such time as the pension and the earnings from the gainful occupation equal the amount the pensioner was drawing as salary immediately prior to disability retirement. When the earnings from the gainful occupation exceed the difference between the pension and the amount received as salary immediately prior to disability retirement, the amount of pension shall be reduced to an amount which together with the amount earned from the gainful occupation equals the amount received as salary immediately prior to disability retirement. (2) If the disability pensioner takes advantage of this increased pension amount for retraining or rehabilitation and then fails or refuses to seek a gainful occupation for which he or she is now qualified as a result of the rehabilitation or retraining, any pension payable shall be withheld until such time as he or she enters a gainful occupation. (3) If the disability pensioner does engage in a gainful occupation following such retraining or rehabilitation, he or she shall make a report to the board of trustees, on or before the 20th day of each month, of any and all earnings received, or entitled to be received, by reason of engaging in the gainful occupation during the preceding month. If the report is not filed, the pension payable to the pensioner shall be withheld until the report is filed. If the pensioner files a false report, the board of trustees shall conduct a hearing, upon notice to the pensioner, and may order the pension suspended or terminated. (Laws of Fla. ch. 84-492, § 17; Laws of Fla. ch. 95-482, § 16)

Orlando City Charter, ch. 12, art. I, § 17 Election of Pension or Return of Contributions.

Sec. 17. - Election of Pension or Return of Contributions. (1) If a member is eligible to vest or retire upon voluntary separation or discharge, said member shall make an irrevocable election, in writing and deliver same to the Board of Trustees within 30 days after such separation or discharge, between return of said member's own contributions (whether regular, special or as a result of the cost-of-living increase provision in section 18) to the retirement plan or receipt of a pension. If the member elects return of contributions, said member and all others claiming by, through, under or against said member shall have no further rights to a pension, except as otherwise specifically provided in this retirement plan. If for any reason the election is not timely made, it shall be conclusively presumed that the irrevocable election is made in favor of return of contributions. (2) If the member dies during the election period without having made the election as called for in subsection (1), the amount of the contributions shall be paid as provided in section 13(2) or (3) of this plan. (Laws of Fla. ch. 95-482, § 17)

Orlando City Charter, ch. 12, art. I, § 18 Cost-of-Living Increase.

Sec. 18. - Cost-of-Living Increase. (1) Any member of the Orlando Police Department who retires with 20 or more years of credited service, or who retires on a line-of-duty disability pension regardless of years of service, shall receive an annual cost-of-living increase of 2 percent per year beginning at age 55. (2) The actuarially determined cost of this benefit shall be borne by all of the members of this retirement plan. (3) Upon the death of a member who retired with 20 or more years of actual credited service, the cost-of-living benefit shall be payable in the same manner as provided in section 6(2), (3), (4), (5), and (6) of this retirement plan; otherwise, the entitlement to a cost-of-living increase ceases upon the death of the retired member. (Laws of Fla. ch. 95-482, § 18)

Orlando City Charter, ch. 12, art. I, § 19 Reexamination and Recall of Disability Pensioners.

Sec. 19. - Reexamination and Recall of Disability Pensioners. Any member of the police department who shall have retired on pension due to disability, who has less than 25 years of service in said department, shall be subject to the call of the Orlando Police Pension Board for reexamination, and, after due notice and hearing, if found able to perform active duty, the said board shall have the power, with the consent of the chief of the police department, to compel the return of said member to said department. Said member so returned shall enjoy the same rights held at the time of being placed upon pension, and in the event said member so ordered to return shall refuse to comply with said order within 30 days from the issuance thereof, said member shall forfeit the right to a pension. (Laws of Fla. ch. 22414(1943), § 20; Laws of Fla. ch. 95-482, § 19)

Orlando City Charter, ch. 12, art. I, § 20 Reemployment After Retirement.

Sec. 20. - Reemployment After Retirement. (1) Any person who is retired and entitled to receive retirement benefits from the pension fund for the police department of the City of Orlando may be reemployed by any private or public employer after retirement and receive compensation from the employer and such retirement benefits without limitation, except that a person who, within the 12 months immediately subsequent to the date of his retirement, is reemployed by either the police department or fire department of the City of Orlando may not receive such retirement benefits for the period beginning on the date of such reemployment and ending on the first anniversary of the date of his retirement. The 12-month limitation period imposed by this paragraph applies to reemployment in any capacity with the police department or fire department of the City of Orlando, irrespective of the category of funds from which the person is compensated. (2) A person to whom the limitation in subsection (1) applies and who is reemployed by either the police department or fire department of the City of Orlando within the 12 months immediately subsequent to the date of retirement must give timely notice of his or her status to the Orlando Police Pension Board. The retirement benefits shall be suspended for the balance of the 12-month limitation period; any retirement benefits received during the 12-month limitation period shall be repaid to the pension fund, and the retirement benefits shall remain suspended until such repayment has been made. Any retirement benefits suspended beyond the 12-month limitation period shall be applied toward the repayment of any retirement benefits received during the 12-month limitation period. (3) A retiree who draws a pension from the pension fund for either the police department or fire department of the City of Orlando, regardless of the date of reemployment, is not entitled to earn and draw another pension from either pension fund. If the police department or fire department of the City of Orlando employs a person who is entitled during such reemployment to receive retirement benefits from the pension fund for either the police department or fire department of the City of Orlando, the employer must pay into its pension fund an amount equal to the unfunded actuarial accrued liability portion, if any, of any contribution that would have been paid into the fund with respect to such employee were he or she a regular employee entitled to earn a pension. (4) Notwithstanding the provisions of subsections (1) and (2), a person who is retired under the provisions of this plan and who is reemployed as a sworn member of the City of Orlando Police Department shall be reinstated as a participant in the pension plan and upon reinstatement shall be accorded all provided rights therein, provided that the retiree will not receive or be entitled to any pension benefit payment during the period of reemployment. Upon subsequent termination of employment said member will only be entitled to receive a recalculated pension payment based on total credited service and average monthly salary based on months of actual service, whether or not continuous, computed as provided in the plan. (5) In the event that the provisions of subsections (1) through (3) of section 20 are found by the Internal Revenue Service to preclude this retirement plan from being a qualified pension plan under the Internal Revenue Code, or to preclude the trust from being an exempt organization under the Internal Revenue Code, then it is the intent of the Legislature that the provisions of subsections (1) through (3) not be enforced or effective and, therefore, not serve as a bar to qualification for exempt organization status. (Laws of Fla. ch. 88-541, § 1; Laws of Fla. ch. 95-482, § 20; Laws of Fla. 2003-339, § 3)

Orlando City Charter, ch. 12, art. I, § 21 Qualified Pension Fund.

Sec. 21. - Qualified Pension Fund. The City intends the pension fund to be a qualified plan under Section 401 of the Internal Revenue Code, as amended, and that the trust be an exempt organization under Section 501 of the Internal Revenue Code. The board of trustees shall administer the pension fund so as to fulfill this intent, including, but not limited to the following: 1) In the event the pension fund should terminate, or if there were to be a complete discontinuance of contributions to the fund, the rights of all employees to benefits accrued to the date of such termination or discontinuance, to the extent then funded, shall be nonforfeitable. 2) Distributions from the pension fund will comply with the requirements of Section 401(a)(9) of the Internal Revenue Code and the regulations thereunder, including the following specific requirements: a) Distribution of a member's benefits will begin no later than the later of April 1 of the calendar year following the calendar year in which the employee attains age 70½ or April 1 of the calendar year following the calendar year in which the member retires. b) If distribution of a member's benefits has commenced prior to the member's death, any remaining benefits will be distributed at least as rapidly as under the method of distribution used as of the date of the member's death. c) If distribution of a member's benefits has not commenced prior to the member's death, any portion of his or her benefits payable after the member's death shall: 1. If payable to the member's surviving spouse, begin no later than the end of the calendar year following the calendar year in which the member would have attained age 70½; or 2. If payable to the member's designated beneficiary, begin no later than the end of the calendar year following the calendar year in which the member died and extend over a period not extending beyond the life expectancy of the eldest beneficiary; or 3. Otherwise, be distributed within 5 years of the member's death. 3) Notwithstanding any other provision in this retirement system, all benefits distributed from the pension fund shall comply with the limitations set forth in Section 415 of the Internal Revenue Code, and applicable regulations thereunder. For this purpose, compensation shall be determined in accordance with Code Section 415(b). 4) This subsection applies to distributions made on or after January 1, 1993. Notwithstanding any provision of the plan to the contrary that would otherwise limit a distributee's election under this subsection, a distributee may elect, at the time and in the manner prescribed by the Board, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. The following definitions shall apply with regard to this subsection. a) Eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of 10 years or more, any distribution to the extent such distribution is required under Section 401(a)(9) of the Internal Revenue Code, and the portion of any distribution that is not includable in gross income. b) Eligible retirement plan is an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, a plan described in Section 457(b) of the Code, or a qualified trust described in section 401(a) of the Code, that accepts the distributee's eligible rollover distribution. However, in the case of an eligible rollover distribution to the surviving spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. c) Distributee: A distributee includes an employee or former employee. In addition, the employee's or former employee's surviving spouse and the employee's or former employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code, are distributees with regard to the interest of the spouse or former spouse. d) Direct rollover is a payment by the plan to the eligible retirement plan specified by the distributee. (e) Notice of eligible rollover distribution: Within a reasonable period of time before making an eligible rollover distribution, the Board of Trustees shall provide a written explanation to the recipient of such distribution explaining the following: (1) the provisions under which the recipient may have the distribution directly transferred to an eligible retirement plan and that the automatic distribution by direct transfer applies to certain distributions in accordance with § 401(a)(31)(B) of the Internal Revenue Code, (2) the provision which requires the withholding of tax on the distribution if it is not directly transferred to an eligible retirement plan, (3) the provisions under which the distribution will not be subject to tax if transferred to an eligible retirement plan within 60 days after the date on which the recipient received the distribution, (4) the provisions under which distributions from the eligible retirement plan receiving the distribution may be subject to restrictions and tax consequences which are different from those applicable to distributions from the plan making such distribution. For the purposes of this Subsection, the term "reasonable period of time" shall have the meaning assigned to it under § 401(a)(31) of the Internal Revenue Code and the regulations thereunder. (Laws of Fla. ch. 95-482, § 21; Ord. No. 2017-22, § 4, 4-24-2017, Doc. #1704241202)

Orlando City Charter, ch. 12, art. I, § 22 Member Contributions; Tax Treatment.

Sec. 22. - Member Contributions; Tax Treatment. (1) Upon implementation, the City shall, solely for the purpose of compliance with Section 414(h) of the Internal Revenue Code, pick up, for the purposes specified in that section, member contributions required by the act for all salary earned by the member after implementation. Member contributions picked up under the provisions of this section shall be treated as City contributions for purposes of determining income tax obligations under the Internal Revenue Code; however, such picked-up member contributions shall be included in the determination of the member's gross annual salary for all other purposes under federal and state laws. (2) Members' contributions picked up under this section shall continue to be designated member contributions for all purposes of the act and shall be considered as part of the member's salary for purposes of determining the amount of the member's contribution. The provisions of this section are mandatory, and the member shall have no option concerning the pick up or to receive the contributed amounts directly instead of having them paid by the City to the pension fund. (3) Implementation occurs upon authorization by the Orlando Police Pension Board of Trustees following receipt of a favorable letter of determination as to the qualified plan status of the fund. In no event may implementation occur other than at the beginning of a pay period. (Laws of Fla. ch. 95-482, § 22)

Orlando City Charter, ch. 12, art. I, § 23 Actuarial Equivalencies.

Sec. 23. - Actuarial Equivalencies. Actuarial equivalencies shall be calculated using such rates of interest and mortality tables as the Board of Trustees shall from time to time adopt based on recommendation of the plan actuary. In no case shall a rate of interest be less than 5 percent a year, compounded yearly. No change in interest rate or mortality table shall reduce the accrued benefit of any participant. In the event the composition of the Board of Trustees is changed in a manner that brings the board under the direct control of the City, actuarial equivalencies shall be calculated using the 1984 Group Annuity Mortality Table (Male) and an interest rate of 5 percent a year, compounded yearly. (Laws of Fla. ch. 95-482, § 23)

Orlando City Charter, ch. 12, art. I, § 24 Termination of the Plan.

Sec. 24. - Termination of the Plan. It is the intent of the Board of Trustees and the City of Orlando that this retirement plan be permanent and remain in effect for an indefinite period. However, in the event this retirement plan is discontinued or terminated, all participants shall immediately become fully vested in their benefits. The discontinuance or termination shall be carried out in all respects in conformance with applicable statutes, rules, or regulations of the Federal Government or of the State of Florida, or any duly constituted agency thereof having jurisdiction. (Laws of Fla. ch. 95-482, § 24)

Orlando City Charter, ch. 12, art. I, § 25 Employment Rights.

Sec. 25. - Employment Rights. This retirement plan shall not be construed as giving an employee any right to be retained in the service of the City without its consent nor shall this retirement plan interfere with the right of the City to discharge an employee, nor shall an employee be given any right, claim or interest in any benefits of this retirement plan except upon fulfillment of the conditions and requirements of this retirement plan. (Laws of Fla. ch. 95-482, § 25)

Orlando City Charter, ch. 12, art. I, § 26 Applicable Laws.

Sec. 26. - Applicable Laws. This retirement plan shall be construed and enforced under the laws of the State of Florida and any applicable federal law, rule, or regulation, and all of the provisions hereof shall be administered in accordance therewith. (Laws of Fla. ch. 95-482, § 26)

Orlando City Charter, ch. 12, art. I, § 27 Tax Qualification and Statutory Minimums.

Sec. 27. - Tax Qualification and Statutory Minimums. (1) The legislative body of the City of Orlando is authorized to amend the pension plan to the limited extent necessary to maintain tax qualification of the plan under the Internal Revenue Code, but must obtain prior agreement of the members and their collective bargaining agent, if any, should such required amendments change any plan benefits. (2) The legislative body of the City of Orlando is authorized to amend the pension plan to the limited extent necessary to comply with the minimum standards and benefits levels required by Chapter 185, Florida Statutes, and in order to allow the plan to receive funds from the Police and Firefighters' Premium Tax Trust Fund, but must obtain prior agreement of the members and their collective bargaining agent, if any, should such required amendments change any plan benefits. (Ord. of 6-24-2002, § 6, Doc. #020624704)

Orlando City Charter, ch. 12, art. I, § 28 BACKDROP Retirement Option Plan.

Sec. 28. - BACKDROP Retirement Option Plan. (1) BACKDROP Retirement Option Plan. The BACKDROP Retirement Option Plan, hereinafter referred to as the "BACKDROP," allows any eligible member who has elected to participate in the BACKDROP, hereinafter referred to as a "BACKDROP participant," to receive a lump-sum payment, or other payment, in addition to a monthly pension, upon termination of employment. No benefits shall be paid under this section unless the BACKDROP participant has terminated employment. (2) BACKDROP Eligibility. Any member who is an employee of the police department on July 1, 2003, or initially becomes employed after July 1, 2003, may elect to participate in the BACKDROP following the date upon which the member completes 21 years of credited service as a full-time police officer with the City of Orlando and is eligible for a service retirement pension. A member may participate in the BACKDROP only once. (3) BACKDROP Participation. (a) A member may apply to participate in the BACKDROP by submitting an application to the Board of Trustees, which shall include the following: 1. A written election to participate in the BACKDROP. Once submitted to the Board of Trustees, this election will be irrevocable. 2. Selection of the BACKDROP participation and termination dates that satisfy the limitation stated in subsections (2) and (5). Such termination date shall be included in a binding letter of resignation. 3. A properly completed BACKDROP application for a service retirement pension. 4. A properly completed designation of named beneficiaries in the event the member dies while having funds remaining in a BACKDROP account. 5. Any other relevant information as may be required by the Board of Trustees. (b) The effective date of BACKDROP participation for a participant who has elected to receive benefits under the pension plan shall be the first day of the month selected by the member to begin participation in the BACKDROP. (c) A BACKDROP participant shall not accrue additional credited service under the pension plan after the effective date of BACKDROP participation. (4) Benefits Payable Under the BACKDROP. Under a BACKDROP, an eligible member may retire with a retroactive date of retirement. A member may not select a retroactive retirement date earlier than the date upon which the member first became eligible for a service retirement pension, and in no event shall the retroactive date of retirement be more than 36 months prior to the date of BACKDROP election. The monthly service retirement pension shall be determined as of the retroactive retirement date. The member shall then be credited with an account balance in a BACKDROP account that is equal to the amount the member would have received during the BACKDROP period had the member received a regular service retirement pension on the retroactive retirement date. Upon termination of employment, the BACKDROP participant shall receive or transfer the balance of this BACKDROP account, pursuant to subsection (9), and shall begin to receive the monthly service retirement pension adjusted to reflect the retroactive retirement date. (5) BACKDROP Participation Duration. (a) An eligible member may participate in the BACKDROP for a period not to exceed 36 months. Notwithstanding, BACKDROP participation may not commence or continue beyond the date when the member's combined years of credited service and time in the BACKDROP equal 360 months. (b) Notwithstanding the provisions of paragraph (a), for 60 days after this act becomes law, a member with more than 324 months of credited service may elect the BACKDROP option and shall not be subject to combined years of credited service and BACKDROP participation limitation of 360 months. Said member is subject to the maximum BACKDROP participation period of 36 months. A member with more than 324 months of credited service as of the effective date of BACKDROP who does not elect to participate in the BACKDROP, as set forth herein, during this one-time window period shall forfeit the right to deviate from the conditions for participation in the BACKDROP set forth in paragraph (a). (6) BACKDROP Accounts. Individual BACKDROP accounts shall be established to account for each BACKDROP participant's accrued BACKDROP benefits, but there shall be no requirement that funds be segregated for any BACKDROP participant. In the case of a member who selects the BACKDROP option, the amount of that member's pension contributions made during the BACKDROP period shall not be refunded or credited to the member. (7) BACKDROP Benefits Earnings. Any BACKDROP participant's BACKDROP account shall accrue earnings at 8 percent simple interest compounded annually, unless the parties otherwise agree. (8) Cost-of-Living Increase. A BACKDROP participant will not be eligible to participate in cost-of-living increases during the BACKDROP period. Cost-of-living increases will be made pursuant to section 18, after the BACKDROP participant's termination of employment. (9) Payment Options and Conditions. (a) Following the termination of employment, the BACKDROP participant, or if deceased such BACKDROP participant's beneficiaries, shall elect on forms provided by the Board of Trustees to receive payment of the balance of the BACKDROP account in accordance with one of the options listed below. For a BACKDROP participant or beneficiaries who fail to elect a method of payment within 60 days of termination of employment, the Board of Trustees shall pay the balance of the DROP account in one lump sum as provided in subparagraph 1. 1. The balance of the BACKDROP account, less any taxes remitted to the Internal Revenue Service, shall be paid to the BACKDROP participant or beneficiaries. 2. The balance of the BACKDROP account shall be paid directly to the custodian of an eligible retirement plan as defined in applicable provisions of the Internal Revenue Code. However, in the case of an eligible rollover distribution to the widow or widower as a beneficiary, an eligible retirement plan is an individual retirement account or an individual retirement annuity as described in applicable provisions of the Internal Revenue Code. 3. The balance of the BACKDROP account shall be paid by a method that is in compliance with the Internal Revenue Code and as adopted by the Board of Trustees. (b) All payments and benefits shall be made in accordance with applicable provisions of the Internal Revenue Code. (10) Death of a BACKDROP Participant. Upon the death of a BACKDROP participant, the named BACKDROP beneficiaries shall be paid the balance of the BACKDROP account in accordance with subsection (9). Other pension benefits due to the participant's survivors shall be paid in accordance with applicable provision of this pension plan. (11) Cost of Benefits. Any actuarially determined additional cost resulting from the benefits in sections 2 and 4 of this bill shall be borne by the members of the pension plan. (Laws of Fla. 2003-339, §4)

Orlando City Charter, ch. 12, art. I, § 29 Orlando Police Officers' SHARE Program.

Sec. 29. - Orlando Police Officers' SHARE Program. (1) Creation and Purpose. (a) Pursuant to Section 185.35(6), Florida Statutes, a share program to be entitled "The Orlando Police Officers' Share Program" is created. The purpose of this share program is to place certain state premium tax revenues received pursuant to Chapter 185, Florida Statutes, and earnings generated therefrom, in the share program to pay extra benefits to city police officers participating in such share program, as required by state law. The share program hereby created shall be in addition to any other benefits under the Orlando Police Pension Plan, and nothing herein shall in any way affect any other benefits that now or hereafter exist. (b) The benefits to be provided for or on behalf of participants of the Orlando Police Officers' Share Program shall be provided through participant - directed investments, and in accordance with s. 401(a) of the Internal Revenue Code and its related regulations. (c) The city shall not be required to levy any additional taxes on its residents or to make any contributions to the share program. (2) Definitions. The following words and phrases shall, unless otherwise defined or required by the context, for the purpose of the supplemental share program, have the meanings indicated below. (a) Account means the participant's share program individual account credited with (i) initial allocation of state premium tax revenues under Section 29(5) hereof, (ii) subsequent annual allocations of state premium tax revenues under Section 29(6) hereof, (iii) allocations of forfeitures under Section 29(9) hereof, and (iv) the net investment return of the participant's individual share program account. (b) State premium tax revenues means the state excise tax on casualty insurance premiums distributed to the city in accordance with Chapter 185, Florida Statutes. (c) Available Funds for any calendar year from 1998 through 2015 shall mean total state premium tax revenues received during that year by the City for deposit into the Police Officer Pension Plan, less the 1997 base amount of $2,155,329.40, and less any administrative expenses. Available Funds for any calendar year from 2016 forward shall mean 50% of the state premium tax revenues received during that year in excess of the 2012 base amount of $2,458,292.76, less any administrative expenses; unless a different amount is legally required under state law. (d) Board or board of trustees means the Board of Trustees of the Orlando Police Pension Plan, who shall likewise serve as the board of trustees of this share program. The board shall determine the initial allocation of Available Funds, annual allocations of Available Funds, forfeitures, and administrative expenses of the share program, and shall otherwise administer the share program in accordance with this Section 29. (e) Effective date means the date on which this ordinance is enacted. (f) Forfeiture means the termination of a participant's account under Section 29 (9) "forfeiture for cause" and "nonvesting forfeiture" of this supplemental share program. (g) Includable time, for purposes of the calculation of shares for each calendar year, means "credited service" as defined in Section 6, and includes time in which the officer was participating in the BACKDROP Retirement Option Program (BACKDROP), time during which the officer was performing "qualified military service", time during which the officer was eligible to receive workers compensation benefits, and time in which the officer was on Family Medical Leave Act (FMLA) leave with pay, but excludes any time in which the officer was on any other leave of absence without pay. (h) Net investment return for the participant's share program account means the net investment return for the share participant's individual share program account, net of any investment expenses, and less any administrative expenses incurred by the share program not deducted from annual state premium tax revenues. (i) Plan means the Orlando Police Pension Plan. (j) Qualified military service means that military service as defined in Section 414(u) of the Internal Revenue Code after initial employment as a police officer with the City of Orlando. (k) Separated or separation from employment means a voluntary or involuntary cessation of employment or death while as a police officer with the City of Orlando. (l) Share participant or participant means: (i) For the initial allocation, any person who was a Plan member, including retirees and beneficiaries currently receiving benefits and any separated vested Plan members eligible for a benefit from the Plan in the future, on the effective date of the ordinance creating this share program and was a Plan member, including retirees and beneficiaries currently receiving benefits and any separated vested Plan members eligible for a benefit from the Plan in the future, with includable time constituting at least one full calendar year between the years of 1998 and 2015. (ii) For the future annual allocations, any person who was employed as a police officer and has one (1) full year of credited service on the last day of the calendar year in which there are Available Funds. (m) Share program or program means the Orlando Police Officers' Share Program as provided in this Section 29. (n) Share program year means January 1 through December 31. (3) Eligibility for Allocations. (a) Calculation of Shares for the Initial Allocation. Each Plan member who has or had at least one (1) full year of credited service on the last day of each calendar year from 1998 through 2015, in which there are Available Funds, shall receive an equal share of the Available Funds for that calendar year, less administrative expenses, deposited into his or her Police Officers' Share Program account. (b) Calculation of Shares for Annual Allocations. Each Plan member who has or had at least one (1) full year of credited service on the last day of any calendar year, beginning in year 2016, in which there are Available Funds, shall receive an equal share of the Available Funds for that calendar year, deposited into his or her Police Officers' Share Program account. (4) Participation. (a) Establishment of share program account. An individual account shall be established for each share participant. (b) Termination of participation. Every participant shall remain a participant until the participant is entitled to distribution of his or her account under the terms of this share program and actually receives full distribution, or upon forfeiture. (5) Initial Allocation of State Premium Tax Revenues Collected During Calendar Years 1998 through 2015. The initial allocation shall be determined by the board as follows: (a) As provided in Section 29(3)(a), each participant shall be eligible for an allocation as provided for herein. (b) For each of the calendar years from 1998 through 2015, a determination will be made of Available Funds for each calendar year in accordance with § 29(2)(c), and then the pro-rata portion of the lump sum cost of the additional minimum benefits added in this ordinance shall be deducted from the Available Funds for the purpose of calculating the initial dollar allocations for each participant's account. (c) In calculating the initial dollar allocations for each participant's account of the state premium tax revenues collected during calendar years 1998 through 2015, the Available Funds for each calendar year as defined in § 29(2)(c), less the pro-rata portion of the lump sum cost of the additional minimum benefits added in this ordinance, will be divided by the total number of eligible plan members, as defined in § 29(3)(a), for each calendar year. (d) As soon as administratively possible after the effective date, the board shall be given a spreadsheet listing each eligible police officer and for each of the aforesaid calendar years, the share amount to be distributed to each eligible officer for each calendar year and the cumulative distribution to each eligible officer for the initial allocation. (e) After review and approval by the board, said spreadsheet shall be published on the City's website, e-mailed to each eligible participant who has not separated from employment using their City e-mail address, and sent via U.S. regular mail to the last known address of all other persons listed on said spreadsheet. (f) Any person shall have the right to contest the calculation of shares by filing a written complaint with the board within thirty (30) days of publication of the spreadsheet on the City's website. Within sixty (60) days but not less than thirty (30) days of publication of the spreadsheet on the City's website, the board shall hold a quasi-judicial hearing to determine each officer's share amount, and render an order. (g) As soon as administratively possible, distribution shall be made to the participant's individual share account. (6) Annual Allocation of State Premium Tax Revenues Collected for Calendar Year 2016, and Each Calendar Year Thereafter. (a) Except as provided herein, each eligible participant during any calendar year beginning in 2016 shall participate in the annual allocation as provided for herein. (b) The Available Funds for calendar year 2016, and each calendar year thereafter, regardless of when such state premium tax monies are received by the City or the plan, shall be allocated to the share accounts of eligible participants, such that each eligible participant receives an equal share of the Available Funds for that calendar year. (c) Within sixty days of the receipt of any state premium tax monies by the City, the board shall be given a spread sheet listing the total Available Funds for the calendar year, a list of eligible participants, and the share amount to be distributed to each eligible participant for that year. (d) After review and approval by the board, said spreadsheet shall be published on the City's website, e-mailed to each eligible participant who has not separated from employment using their City e-mail address, and sent via U.S. regular mail to the last known address of all other persons listed on said spreadsheet. (e) Any person shall have the right to contest the calculation of shares by filing a written complaint with the board within thirty (30) days of publication of the spreadsheet on the City's website. Within sixty (60) days but not less than thirty (30) days of publication of the spreadsheet on the City's website, the board shall hold a quasi-judicial hearing to determine each participant's share amount, and render an order. (f) As soon as administratively possible but no later than thirty (30) days after resolution of any appeal, or if none, within sixty days of board review and approval, distribution shall be made to the participant's individual share account. (g) The annual dollar allocation to the participant's account of the state premium tax revenues collected shall be reduced by an amount determined by the board as sufficient to cover administrative expenses. (h) For those eligible participants who have separated from employment, distribution shall be made pursuant to a written request from eligible share participant following delivery by the board or its designee of "Special Tax Notice Regarding Program Payments Under Governmental 401(a) Programs". (7) Share Program Benefits. (a) Share program benefits shall be provided in accordance with s. 401(a) of the Internal Revenue Code. (b) Share program benefits shall accrue in individual accounts that are participant-directed, and be funded in accordance with this Section. (c) Share program benefits may not be paid under this section unless the participant has separated from employment and a proper application has been filed in the manner prescribed by the board or its designee. The board or its designee may cancel an application when the participant or beneficiary fails to timely provide the information and documents required by the board or its designee. (8) Vesting Requirement. (a) Solely for the purposes of the Orlando Police Officers' Share Program, vested or vesting means the guarantee that a participant is eligible to receive a retirement benefit from the plan on the completion of ten (10) years of credited service with the plan, or such other vesting period of the plan as may exist in the future, at the time of separation from employment, or upon a determination by the board that the police officer is eligible for disability benefits from the plan. Additionally, a participant who dies while employed as a police officer with the City of Orlando or who dies while performing qualified military service, regardless of years of service and regardless of whether or not such death was in the line of duty, shall be considered vested for purposes of the Orlando Police Officers' Share Program, regardless of whether or not such death qualifies for benefits from the plan. (b) If a participant separates from employment prior to satisfying the vesting requirements, the participant's accumulation shall be transferred from the participant's account to the board where it shall be invested by the board in a suspense account. If the separated participant is reemployed as a police officer within five (5) years, the board shall transfer to the participant's account any amount of moneys previously transferred from the participant's account to the suspense account, plus the actual earnings on such an amount while in the suspense account, provided however, if the separated participant received a refund of member contributions, the reemployed police officer shall repay the member contributions to the plan, with interest as determined by the board. If the reemployed police officer does not repay the member's contributions for the previous credited service with interest as determined by the board within the time determined by the board, the previous accumulations shall be forfeited. (c) Any nonvested accumulations transferred from a participant's account to the suspense account shall be forfeited by the participant if the participant is not reemployed as a police officer within five (5) years after separation from employment. (9) Forfeitures. (a) Forfeiture for cause. Notwithstanding anything in the share program to the contrary, if a participant is convicted of a specified offense as set forth in Section 112.3173, Florida Statutes, or the participant's retirement benefit is otherwise forfeited pursuant to subsection 112.3173(3), Florida Statutes, as the same may be amended from time to time, the provisions of Section 112.3173, Florida Statutes, as same may be amended from time to time, shall apply and the participant shall forfeit all rights to receive a benefit from the share program in accordance with the provisions of such Section 112.3173, Florida Statutes. (b) Nonvesting forfeiture. If a share participant separates from employment who is not vested and who has not applied for disability benefits from the plan within the applicable time period, then the participant's account shall be administered pursuant to Section 29(8). A police officer who has applied for disability benefits from the plan who has separated from employment shall be included in the calculation of the annual allocation for that period before separation. If such police officer who has separated from employment is later determined not to be eligible for disability benefits from the plan, then the participant's account shall be administered pursuant to Section 29(8). Any police officer whose application for disability benefits is pending shall not be entitled to receipt of the participant's account, unless the police officer is otherwise qualified to receive pension benefits from the plan, now or in the future, based on years of service. (c) Any participant's account which is forfeited shall be held in an interest bearing forfeiture account to be used for the payment of administrative expenses expected for the following year, which expected amount shall be transferred to the administrative expense account. Any monies remaining in the forfeiture account after the transfer of the amount of expected administrative expenses shall be allocated among the other participants based upon the amount of shares each participant is allocated for the calendar year in which the forfeiture occurs. In the event IRS regulations do not allow the reallocation of forfeited share account balances to other member share accounts, the forfeited amount shall be allocated as required by IRS regulations. (10) Administration. (a) The board shall select a private sector company or companies to offer one or more investment products or services to the participants of the share program. Such private sector company or companies shall be a bundled provider that offers participants a range of individually allocated or unallocated investment products and a range of administrative and customer services, including accounting and administration of individual participant accounts; individual participant record keeping; asset purchase, control, and safekeeping; direct execution of the participant's instructions as to asset allocation; calculation of daily net asset value; direct access to participant account information; periodic reporting to participants, at least quarterly, on account balances and transactions; guidance, advice, and allocation services directly to its own investment options or products, but only if the bundled provider complies with the standard of care of s. 404(a)(1)(A-B) of the Employee Retirement Security Act of 1974 (ERISA) and if providing such guidance, advice, or allocation of services does not constitute a prohibited transaction under s. 4975(c)(1) of the Internal Revenue Code or s. 406 of ERISA, notwithstanding that such prohibited transaction provisions do not apply to the Orlando Police Officers' Share Program; a broad array of distribution options; asset allocation; and retirement counseling and education. Private sector companies include investment management companies, insurance companies, depositories, and mutual fund companies. (b) The board shall have the full power and authority to adopt rules and regulations for the administration of this share program and to interpret, alter, amend or revoke any rules so adopted, which rules shall have the force of law. However, the board shall not have the authority to adopt any rules which makes a substantive change to the share program. (c) The board shall have the full power and authority to retain independent legal counsel, independent actuary, and such independent professional, technical, or other advisors as it deems necessary at the expense of this share program. (d) Except as otherwise provided in Section 29, all costs, expenses and fees of administering this share program shall be paid from state premium tax revenues or the assets of this share program in such fashion as the board shall determine. Any allocation to a participant's account shall be net of the participant's allocable portion of the share program's costs, expenses and fees of administering the share program. (e) The Orlando Police Officers' Share Program shall be administered by the board and any approved provider and third party administrator, if any, in accordance with all applicable mandatory provisions of federal and state law now existing or as they may exist in the future. The board is hereby authorized to adopt written rules setting forth the specifics of applicable mandatory provisions of federal and state law as they now exist or may exist in the future, which rules shall have the force of law. (11) Investment. (a) The investment of the assets of the Orlando Police Officer's Share Program shall be subject to the limitations and conditions set forth in Chapter 185, Florida Statutes, and shall be pursuant to a written investment policy adopted by the board pursuant to Section 112.661, Florida Statutes, as such statutes now exist or as they may exist in the future. (b) Pursuant to Section 29(10)(a), the board shall select one or more bundled providers, each of whom may offer multiple investment options and related services. (c) As a condition of offering any investment option or product, the approved provider must agree to make the investment product or service available under the most beneficial terms offered to any other customer, subject to approval by the board. (12) Participant Information Requirements. (a) The board shall insure that each participant is provided an annual statement of the amount of state premium tax revenues, including forfeitures, less administrative expenses allocated to the participant's individual share account. (b) The board shall insure that each participant is provided a quarterly statement that accounts for the participant's interest and investment earnings thereon; any fees, penalties, or the deductions that apply thereto. (c) The approved provider and the third-party administrator, if any, shall provide quarterly and annual summary reports to the board and any other reports requested by the board. (13) Federal Requirements. (a) Provisions of this section shall be construed and the Orlando Police Officers' Share Program shall be administered, so as to comply with the applicable provisions of the Internal Revenue Code, 26 U.S.C., now existing or as they may exist in the future, and specifically with program qualification requirements imposed on governmental programs under § 401(a) of the Internal Revenue Code. The board shall have the power and authority to adopt rules reasonably necessary to establish and maintain the qualified status of the Orlando Police Officers' Share Program under the Internal Revenue Code and to implement and administer the Orlando Police Officers' Share Program in compliance with the Internal Revenue Code; provided, however, the board shall not have the authority to adopt any rule which makes a substantive change to the Orlando Police Officers' Share Program. (b) Any provision of this section which is susceptible to more than one construction must be interpreted in favor of the construction most likely to satisfy requirements imposed by s. 401(a) of the Internal Revenue Code. (14) Investment Policy Statement. Investment products and approved providers selected for the Orlando Police Officers' Share Program shall conform with the written policy statement adopted by the board pursuant to Section 112.661, Florida Statutes, as such statute now exists or as it may exist in the future. The statement must also include, among other items, the investment objectives of the Orlando Police Officers' Share Program, manager selection and monitoring guidelines, and performance measurement criteria. The board's "professionally qualified independent consultant" may present recommended changes in the investment policy statement to the board for approval. (15) Statement of Fiduciary Standards and Responsibilities. (a) Investment by approved providers of the Orlando Police Officers' Share Program assets shall be subject to the fiduciary standards set forth in Section 112.656 and Section 518.11, Florida Statutes, as such statutes now exists or as it may exist in the future. (b) If a participant or beneficiary of the Orlando Police Officers' Share Program exercises control over the assets in his or her account, as determined by reference to regulations of the United States Department of Labor under s. 404(c) of the Employee Retirement Income Security Act of 1974 and all applicable laws governing the operation of the program, no program fiduciary shall be liable for any loss to a participant's or beneficiary's account which results from such participant's or beneficiary's exercise or control. (16) Participant Records. Personal identifying information of a participant in the Orlando Police Officers' Share Program contained in records held by the board or the City of Orlando is exempt from Section 119.07(1), Florida Statutes and Section 24(a) Article I of the State Constitution. (17) Designation of Beneficiaries. (a) Each participant may, on a form provided for that purpose, signed and filed with the approved provider and third party administrator, if any, designate a choice of one or more persons, named sequentially or jointly, as his or her beneficiary who shall receive the benefits, if any, which may be payable pursuant to this section in the event of the participant's death. If no beneficiary is named in this manner, or if no beneficiary designated by the participant survives the participant, the beneficiaries shall be the beneficiaries of the participant's estate. The board may determine the beneficiaries of the participant's estate pursuant to rules adopted by the board. Otherwise, a court order determining the beneficiaries of the participant's estate shall be required. (b) A trust may be designated as a beneficiary. (c) In connection with the initial allocation or any future annual allocation to which the police officer is eligible, the board may honor any written designation of beneficiary of the eligible police officer received by the board or city which specifically references this share program, even if such written designation was received prior to the effective date. (18) Miscellaneous provisions. (a) Exclusive benefit rule. No part of the assets of this share program shall be used for, or diverted to any purpose whatsoever other than for the exclusive benefit of the share participants and beneficiaries thereof, and defraying reasonable expenses of administering the share program. No person shall have any interest in, or right to, any part of the assets of this share program, except as and to the extent expressly provided in this Section 29. (b) Non alienation of benefits. The benefits provided by this share program shall not be subject to garnishment, execution, attachment, the operation of bankruptcy or insolvency law, or to any legal process whatsoever, and shall be unassignable. Provided, however, the board may authorize deductions in accordance with Section 185.05(6), Florida Statutes, as such statute now exists or may exist in the future. (c) Marriage dissolution. No distribution of a participant's account shall be made because of dissolution of marriage. Payouts can only be made after the participant's separation from employment as a police officer. A participant's account shall not be subject to a Qualified Domestic Relations Order (QDRO). The costs incurred by the board for any actuarial, accounting, administrative, or legal services required to respond to any court orders or any other matters involving the calculation or division of a participant's account due to a dissolution of marriage shall be deducted from the participant's account. (d) Termination and discontinuance of the program. It is the intent of the City of Orlando that this share program be permanent and remain in effect for an indefinite period. However, in the event this share program is discontinued or terminated, all participants shall immediately become fully vested in their benefits. The discontinuance or termination shall be carried out in all respects in conformance with applicable statutes, rules and regulations of the federal government and the State of Florida, or any duly constituted agency thereof having jurisdiction. (e) Applicable laws. This share program shall be construed and enforced under the applicable laws of the State of Florida and any applicable federal laws, rules and regulations, and all of the provisions hereof shall be administered in accordance therewith. (f) Disclaimer with respect to investments. The City and the board of trustees make no endorsement, guarantee or any other representation and shall not be liable to this share program or any participant, beneficiary, or any other person with respect to the financial soundness, investment performance, fitness, or suitability (for meeting a participant's objectives, future obligations under the program, or any other purpose) of any investment option offered by this share program or any investment vehicle in which a participant's account are actually invested. (g) Spendthrift provision. The interests of the participant in his individual share account, or the income or gains therefrom, shall not be subject to the rights of creditors of the participant, and shall be exempt from execution, attachment, distress for rent, and all other legal or equitable process issued by or on behalf of such creditors, and the interests of the participant in his individual account or the income or gains therefrom shall not be assignable. (h) Venue. Any litigation concerning this share program shall be conducted in the state courts in the State of Florida situated in Orange County, Florida. (i) Reservation of right to amend share program. Subject to the provisions of Chapter 447, Part II, Florida Statutes, the City reserves the right at any time to amend or modify this share program, provided that no amendment shall cause any part of the share program assets to be used or diverted to purposes other than the exclusive benefit of the participants and their beneficiaries. (j) Compliance with Internal Revenue Code. If it is determined by the Internal Revenue Service that any provision of this share program cannot be corrected, or that the operation or administration of the share program cannot be corrected, such as to disqualify the Orlando Police Officer Pension Plan from being tax exempt under the applicable provisions of the Internal Revenue Code, then all assets of this share program shall be used to provide "extra benefits" in such a manner to not disqualify the Orlando Police Officer Pension Plan. (Ord. No. 2017-22, § 5, 4-24-2017, Doc. #1704241202)

Orlando City Charter, ch. 12, art. I, § 30 Military Service After Employment.

Sec. 30. - Military Service After Employment. (1) The years and fractional parts of years that a member has served on active military service of the Armed Forces of the United States after March 12, 1999, voluntarily or involuntarily, and honorably or under honorable conditions, after initial employment with the City of Orlando Police Department, shall be added to his or her years of creditable service provided that: (a) The maximum number of years of credit for military service shall be five (5) years, unless required by Uniformed Services Employment and Reemployment Rights Act. (b) The police officer is entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act. (c) The police officer returns to his or her employment as a police officer with the City of Orlando within 1 year from the date of release from such active military service. (2) The qualified military service of a member who has been reemployed under the terms of IRC § 414(u) shall be treated, for vesting and benefit accrual purposes, as service completed under Section 6 of this retirement plan. (3) Effective January 1, 2007, in the case of a member who dies while on a leave of absence to perform qualified military service as described in IRC § 414(u), the member's beneficiary shall be entitled to any benefits that would have been provided (other than benefit accruals relating to the period of qualified military service) under this retirement plan had the member resumed and then terminated employment on account of death, in accordance with IRC § 401(a)(37). (Ord. No. 2017-22, § 6, 4-24-2017, Doc. #1704241202)

Source: City of Orlando, Florida, City Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/fl/orlando/codes/code_of_ordinances?nodeId=TITICH_CH12POOFFIPE_ARTIPOOFPEFUFetched: 11/1/2026