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

  § 54-131. Employment after retirement.  

Latest version.

  • (a)

    Generally. A participant who retires and begins to receive early or normal retirement benefits under the plan, and who is subsequently re-employed by the city in a position eligible for participation in the plan, shall have retirement income payments suspended during the period of reemployment, and rejoin the plan as a contributing participant. The participant's prior vesting credits will be added to the vesting credits earned during the period of reemployment, and, upon subsequent retirement, the participant's retirement income will be adjusted based on total vesting credits and average final compensation as of the date of subsequent retirement (ignoring the prior period of retirement). In no event will the participant's adjusted monthly retirement income be less than that received during the prior period of retirement.

    (b)

    Notice of reemployment and re-retirement.

    (1)

    Retired participants must notify the board of trustees upon returning to any type of work for the city police department within 30 days after starting work. Notice of reemployment shall be given on a form provided by the board of trustees.

    (2)

    A participant must notify the board of trustees upon re-retirement if the participant returns to work for the city police department after having a claim filed for pension benefits. Notice of re-retirement shall be given on a form provided by the board of trustees. Pension benefits shall be suspended until notice of re-retirement is given.

    (c)

    Resumption of benefits.

    (1)

    Benefit payments for pension recipients shall resume effective by the first day of the month after receipt of the notice of re-retirement, or verification of retirement, from the participant.

    (2)

    The board of trustees may deduct 25 percent of each month's benefit payment for benefits previously made which should have been suspended. The first three months are subject to offset without limitation. The board of trustees shall notify the participant of the amount subject to offset, the manner of offset, and the months of work involved.

(Ord. No. 1993-43, § 11, 9-28-93; Ord. No. 1995-5, § 1, 3-7-95)