§ 29. Authority to establish; cost; additional benefits; actuarial evaluations; effect of separation from service; funds, etc., not subject to legal process.

The city commission of the City of Miami Beach shall have authority to establish by ordinance a pension and retirement system for any or all groups of employees in the service of said city, and to further provide that all lifeguards be permitted to retire upon attaining the age of fifty years and upon completion of twenty years of creditable service. Any system so established may provide for disability and death benefits. Any such pension and retirement system shall be established on a jointly contributory basis, with employee contributions determined by ordinance and the city's contributions based on actuarially determined needs for adequate funding of the system. The cost of the system shall be determined actuarially on the basis of such mortality and service tables as the pension board shall approve and shall be calculated and contributed as a uniform percentage of the payroll of members. The provisions of the ordinances establishing such a pension and retirement system shall require periodic actuarial evaluations which shall serve as a basis of any changes in the mortality and other experience tables and shall also provide for the maintenance at all times of adequate reserves. Any system established under this Act shall provide that any employee permanently separating from the service of the city for any reason shall receive from the funds of the system a sum at least equal to his contribution. No funds, credits, pensions, rights or benefits herein provided for shall be assignable or subject to attachment, garnishment, execution or other legal process.

(a)

The system established under this section shall provide that the retirement benefits payable under the general employees pension system shall be not less than seventy-five percent of final earnings on service-connected disability, nor less than thirty-five percent of final average earnings on non-service-connected disability.

(b)

[Editorially deleted.]

(Laws of Fla., 1937, ch. 18691, § 1; Laws of Fla., 1949, ch. 26035, § 1; Laws of Fla., 1951, ch. 27732, § 1; Laws of Fla., 1955, ch. 30984, § 1; election of 6-6-67; election of 11-5-68; election of 4-23-70; election of 11-7-89)

Editor's note

The references to requirement to join the civil service system and the service retirement allowance were editorially deleted as superseded by collective bargaining agreements.