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 Port Orange
 Code of Ordinances
 Chapter 54. PERSONNEL
 Article V. POLICE PENSION FUND

  § 54-125. Loss of credits.  

Latest version.

  • (a)

    Breaks in service. A break in service shall occur when a participant is no longer employed by the city as a full-time police officer. A break in service shall not occur if the participant is not employed due to the participant:

    (1)

    Entering into the armed forces of the United States or the United States merchant marine on leave of absence, provided the person is entitled to reemployment under the provisions of the Uniformed Services Employment and Reemployment Rights Act and returns to work in the police service of the city within one year of discharge, or within one year of discharge from a hospital, if the person was hospitalized at the time of separation from the armed forces;

    (2)

    Being absent from work due to maternity or paternity leave as provided in section 54-122, or due to unpaid leave of absence approved by the city;

    (3)

    Becoming temporarily totally disabled or receiving a disability benefit from the plan; or

    (4)

    Terminating employment as a full-time city police officer and subsequently becoming reemployed as a full-time city police officer, provided that the employee did not receive a refund of the employee's accumulated contributions.

    (b)

    Refund of contributions. A participant who is not vested and suffers a break in service shall be entitled to a refund of the participant's accumulated contributions without interest.

    (c)

    Reentry into pension plan.

    (1)

    A person who has been paid a refund of accumulated contributions and subsequently earns any vesting credits under the pension plan may repay to the pension plan the accumulated contributions previously received, plus interest on that amount at the actuarially equivalent interest rate, compounded annually, or such other amount as prescribed in section 411(c)(2)(d) of the Internal Revenue Code. Repayment of previously refunded accumulated contributions, plus interest, must be made within six months following re-employment as a full-time city police officer.

    (2)

    Upon timely repayment of the refunded accumulated contribution, plus interest, the participant shall receive full credit under the plan for the relevant period of service.

(Ord. No. 1993-43, § 5, 9-28-93; Ord. No. 1999-60, § 2, 1-18-00)