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ORDINANCE 21-1559 <br />AN ORDINANCE OF THE CITY OF CASSELBERRY, <br />FLORIDA, AMENDING CHAPTER 62, PENSIONS AND <br />RETIREMENT, ARTICLE 1, POLICE OFFICERS' AND <br />FIREFIGHTERS' PENSION PLAN OF THE CODE OF <br />ORDINANCES OF THE CITY OF CASSELBERRY; <br />AMENDING SECTION 62-2006, BENEFIT AMOUNTS AND <br />ELIGIBILITY; AMENDING SECTION 62-2010, OPTIONAL <br />FORMS OF BENEFITS; AMENDING SECTION 62-2016, <br />MINIMUM DISTRIBUTION OF BENEFITS; PROVIDING <br />FOR CODIFICATION; PROVIDING FOR SEVERABILITY <br />OF PROVISIONS; REPEALING ALL ORDINANCES IN <br />CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE <br />DATE. <br />BE IT ENACTED BY THE CITY COMMISSION OF THE CITY OF <br />CASSELBERRY, FLORIDA, AS FOLLOWS; <br />SECTION I: That Chapter 62, Pensions and Retirement, Article XVIII, Police Officers' and <br />Firefighters' Pension Plan, of the Code of Ordinances of the City of Casselberry, is hereby amended <br />by amending Section 621-2006, BTenefi}tw Amounts <br />���and Eligibility, subsection <br />)((e), Cost -of -Living <br />A j�u,s tm en ts, and sub Jectl on (gl, 1 eq u.; ed D.; t% LV u tLon L�atG, tV read aJ follV��Y J. <br />(e) Cost -of -living adjustments. <br />(1) For Members hired before September 15, 2013. Beginning on the first July 1 <br />following the later of the Member's date of commencement of benefits or the <br />Member's otherwise Normal Retirement Date, determined as if he had remained <br />employed, and on each July 1 thereafter, Retirees (including disability Retirees and <br />DROP participants), Beneficiaries and joint pensioners of deceased Members or <br />Retirees and terminated vested persons, who are receiving monthly benefit payments <br />shall receive a three percent increase in their monthly benefit amount. <br />(2) For Members hired on or after September 15, 2013. Beginning on the first July 1 <br />following five (5) years after the later of the Member's date of the commencement of <br />benefits or the Member's otherwise Normal Retirement Date, determined as if he had <br />remained employed, and on each July 1 thereafter, Retirees (including disability <br />Retirees and DROP participants), Beneficiaries and joint pensioners of deceased <br />Members or Retirees and terminated vested persons, who are receiving monthly <br />benefit payments shall receive a three percent increase in their monthly benefit <br />amount. <br />