13-1394 Amending Chapter 62, Police Officers' and Firefighters' Pension Plan

Home Browse Search

(4) This paragraph is intended to satisfy the minimum requirements of USERRA. To the extent that this paragraph does not meet the minimum standards of USERRA, as it may be amended from time to time, the minimum standards shall apply. In the event a Member dies on or after January 1, 2007, while performing USERRA Qualified Military Service, the beneficiaries of the Member are entitled to any benefits (other than benefit accruals relating to the period of qualified military service) as if the Member had resumed employment and then died while employed. Beginning January 1. 2009, to the extent required by section 414(u)(121 of the code, an individual receiving differential wage payments (as defined under section 3401(h)(2) of the code) from an employer shall be treated as employed by that employer. and the differential wage payment shall be treated as compensation for purposes of applying the limits on annual additions under section 415(c) of the code. This provision shall be applied to all similarly situated individuals in a reasonably equivalent manner. SECTION II: That Chapter 62, Pensions and Retirement, Article 1, Police Officers' and Firefighters' Pension Plan, of the Code of Ordinances of the City of Casselberry, is hereby amended by amending Section 62 -2004, Finances and Fund Management, subsection (f)(2)c., to read as follows: C. In addition, the board may, upon recommendation by the board's investment consultant, make investments in group trusts meeting the requirements of Internal Revenue Service Revenue Ruling 81 -100 and Revenue Ruling 2011 -1 or successor rulings or guidance of similar import, and operated or maintained exclusively for the commingling and collective investment of monies, provided that the funds in the group trust consist exclusively of trust assets Ordinance 13 -1394 Page 3