§ 54-56. Creation.

(a)

Authorization. A retirement plan and retirement trust has been authorized to be adopted and is authorized to be administered to provide benefits in accordance with the provisions of this article, and F.S. chs. 175 and 185. The appointed board of trustees is authorized and directed to take the necessary steps for putting the plan into effect.

(b)

Purpose. The purpose of the plan is to provide benefits to regular and permanent police and fire department employees of the city, as the term "employee" is defined herein, and their beneficiaries, upon the occurrence of retirement, death, or disability of the employee or upon his termination of employment as provided herein.

(c)

Name. The plan hereby created by the City of Quincy (hereafter referred to as the "city") shall be known as the City of Quincy Municipal Police Officers' and Firefighter's Retirement Plan (hereinafter referred to as the "plan"). All the affairs and business of such plan shall be transacted in such name.

(d)

Effective date. The plan shall be effective as of January 1, 1972.

(e)

Introduction. The plan will be administered by a board of trustees, as more fully described in subsection 54-61(a) of the plan. In conjunction with the establishment of the plan, the city will establish a trust fund pursuant to an agreement which is known as the City of Quincy Municipal Police Officers' and Firefighter's Retirement Trust (which trust agreement is hereinafter referred to as the "trust agreement"), with trustees as appointed therein (hereinafter referred to as the "trustee"), and the funds received from the State of Florida under F.S. ch. 175 and 185 for the purpose of providing the benefits specified in the plan will be held in the trust fund and administered by the trustee in accordance with the provisions of the trust agreement.

(f)

Plan year. The year shall be the 12-consecutive month period ending each September 30 ^th .

The trust agreement, and any future amendments thereto, shall form a part of the plan and any amendments hereto, in the same manner as if all terms and provisions thereof were copied here in detail; the terms and provisions of the plan, and any future amendments hereto, shall form a part of the trust agreement as from time to time it may be amended, in the same manner as if the same were copied in the trust agreement in detail.

The plan and trust agreement are applicable to each employee of the city as described in subsection 54-57(a) hereof. Each such employee retiring from the service of the city in accordance with the provisions of the plan will be entitled to retirement income benefits determined in accordance with the provisions which follow.

All provisions of the plan shall be applied to each eligible employee of the city in a uniform and nondiscriminatory manner.

(Code 1958, § 25-69; Ord. No. 901-B, § 1, 5-23-2000; Ord. No. 999, § 2, 4-10-07; Ord. No. 1039, § 1, 5-10-11)