§ 54-47. Membership.

(a)

Conditions of eligibility. All employees who as of April 1, 1979, have completed two years of credited service shall become members as of that date. All current and future employees shall become members on the October 1, January 1, April 1 or July 1 coincident with, or next following, the completion of six months of credited service.

If a participant becomes eligible for the ICMA-RC Deferred Compensation Plan as described herein and waives participation in the General Employees' Retirement System on or after October 1, 1991, his accounts which have been established on his behalf under the fund shall continue to be maintained during the period of his employment with the city and he shall not have city contributions allocated to his account on or after the date he elects participation in the ICMA-RC Deferred Compensation Plan and waives participation in the system. The employee shall continue to receive credited service for vesting purposes only until his termination of service for any reason.

If a participant becomes eligible for the ICMA-RC Money Purchase Plan and Trust as described herein or is transferred on or after January 1, 1986, to another city department and no longer meets the definition of an employee as set forth herein, his accounts which have been established on his behalf under the fund shall continue to be maintained during the period of his employment with the city and he shall not have city contributions allocated to his account on or after the date he elects participation in the ICMA-RC Money Purchase Plan and Trust or the date of transfer. The employee shall continue to receive credited service for vesting purposes only until his termination of service for any reason.

(b)

Application for membership. Each eligible employee shall complete an application form covering the following, as well as such other items as may be prescribed by the board:

(1)

Acceptance of the terms and conditions of the retirement system;

(2)

Designation of a beneficiary or beneficiaries; and

(3)

Authorization of a specified percent payroll deduction payable to the system, if the employee wishes to make voluntary personal contributions for investment purposes.

(c)

Change in designation of beneficiary. A member may from time to time change his designated beneficiary by written notice to the board upon forms provided by the board. Upon such change the rights of all previously designated beneficiaries to receive any benefits under the system shall cease.

(d)

Participation in deferred compensation and money purchase plans; waiver of participation in other plans.

(1)

The city council has adopted the International City Management Association Retirement Corporation Deferred Compensation (ICMA-RC457) Plan. Such plan shall be available to the mayor, city council members, city manager, assistant city manager, city attorney, assistant city attorney, department heads, assistant department heads, division heads, and supervisors designated by the city manager and approved by the city council, who waive participation in the City of Port Orange General Employees Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, hereinafter the "plan" and other existing city or state retirement plans to which the city makes contributions, and who enroll in the ICMA-RC457 Plan. The ICMA-RC457 Plan shall also be available to general employees who on or before September 30, 2003, waive participation in the City of Port Orange General Employees Defined Benefit Plan as amended and restated effective October 1, 2003, and other existing city or state retirement plans to which the city makes contributions, and who enroll in the ICMA-RC457 Plan. If the city is not making a contribution to another retirement plan on behalf of an individual, then contributions by the city to the ICMA-RC457 Plan shall be the same percentage or amount as established for the City of Port Orange General Employees Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, or such higher percentage or amount as authorized by the city council. Contributions by the city shall commence immediately upon the person waiving participation in the plan or other existing retirement plan, if any, and enrolling in the ICMA-RC457 Plan.

(2)

All city employees shall be eligible to enroll in the ICMA-RC457 Plan for the purpose of making voluntary employee contributions to such plan.

(3)

The city council has adopted the International City Management Association Retirement Corporation (ICMA-RC) Money Purchase Plan and Trust for management employees. Such plan shall be available to the management employees as follows: assistant city manager, city attorney, assistant city attorney, and department heads, who waive participation in the City of Port Orange General Employees Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, and other existing city or state retirement plans to which the city makes contributions, and who enroll in the ICMA-RC Money Purchase Plan and Trust. Contributions by the city to the ICMA-RC Money Purchase Plan and Trust for management employees shall be the same percentage or amount as established for the City of Port Orange General Employees Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, or such higher percentage or amount as authorized by the city council. Contributions by the city shall commence immediately upon the person waiving participation in the plan or other existing retirement plan and enroll in the ICMA-RC Money Purchase Plan and Trust for management employees.

(4)

The city council has adopted the International City Management Association Retirement Corporation (ICMA-RC) Money Purchase Plan and Trust effective October 1, 2003, for contract employees. Such plan shall be available to contract employees of the city, including the assistant department heads, division heads, and supervisors designated by the city manager and approved by the city council, who waive participation in the City of Port Orange General Employees' Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, and other city or state retirement plans to which the city makes contributions, and who enroll in the ICMA-RC Money Purchase Plan and Trust for contract employees. City contributions to the ICMA-RC Money Purchase Plan and Trust for contract employees shall be in such percentages or amounts as are specified in the adoption agreement for such plan, or as otherwise authorized by the city council. For purposes of this paragraph contract employees shall exclude the mayor, city council members, city manager, assistant city manager, city attorney, assistant city attorney, and department heads.

(5)

The city council has adopted the International City Management Association Retirement Corporation (ICMA-RC) Money Purchase Plan and Trust effective October 1, 2003, for general employees as defined in this article. Such plan shall be available to the general employees of the city who on or before September 30, 2003, waive participation in the City of Port Orange General Employees' Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, and other city or state retirement plans to which the city makes contributions, and who enroll in the ICMA-RC Money Purchase Plan and Trust for general employees. The ICMA-RC Money Purchase Plan for general employees shall also be available to general employees who are not eligible to participate in the City of Port Orange General Employees' Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, or any other city or state retirement plans to which the city makes contributions. City contributions to the ICMA-RC Money Purchase Plan and Trust for general employees shall be in such percentages or amounts as are specified in the adoption agreement for such plan, or as otherwise authorized by the city council. General employees who are eligible to participate in the City of Port Orange General Employees' Defined Benefit Retirement Plan as amended and restated effective October 1, 2003, and do not waive participation in such plan on or before September 30, 2003, shall not be entitled to waive participation at any time in the future.

(6)

The city council has adopted the International City Management Association Retirement Corporation (ICMA-RC) Money Purchase Plan and Trust for the city manager. Contributions by the city to the ICMA-RC Money Purchase Plan and Trust for the city manager shall be as established for by the city council in the city manager employment agreement. Contributions by the city shall commence immediately upon the city manager's employment and completion of all enrollment in the ICMA-RC Money Purchase Plan and Trust for the city manager.

(e)

Members of the pension plan who have achieved ten years of service with the city shall have the option to continue city contributions on their behalf contributed to the General Employee Retirement System, or waive participation in the General Employee Retirement System and enroll in the ICMA-RC Deferred Compensation Plan and have city contributions made on their behalf contributed to the ICMA-RC Deferred Compensation Plan. Such decisions are irrevocable and employees may not switch back to the General Employee Retirement System if the employee elects to waive participation.

(Code 1981, § 15-21; Ord. No. 1991-25, §§ 2, 3, 10-8-91; Ord. No. 2000-7, § 2, 3-7-00; Ord. No. 2001-49, §§ 1, 2, 7-24-01; Ord. No. 2003-48, § 1, 9-23-03; Ord. No. 2013-3, § 1, 3-19-2013)