ORDINANCENO.1186

ORDINANCENO.1186

WHEREAS,theBoardofTrustees oftheCity ofLynnHavenPoliceOfficers’RetirementSystemhaspreparedthis ordinancetoamendthePlan,effectiveuponpassageofthis ordinance;and

WHEREAS,theBoardofTrustees oftheCity ofLynnHavenPoliceOfficers’RetirementSystembelieves thatimplementationofthis ordinanceis inthebestinterestsofthePlanmembers andthecitizens oftheCity ofLynnHaven;

NOW,THEREFORE,BEITENACTEDBYTHECITYOFLYNNHAVEN,
FLORIDA,that;

SECTION1:ThatChapter50,Personnel,ArticleIII,PoliceOfficers’RetirementSystem,
oftheCodeofOrdinances oftheCity ofLynnHaven,is hereby amendedby amendingSection50-81,BenefitAmounts andEligibility,toaddsubsection(g),13thCheck SupplementalBenefit,as follows:

Section50-81.–BenefitAmountsandEligibility.

***

(g)Ad-hoc SupplementalBenefit.
(1)Asupplementalbenefitis hereby createdtobeprovidedintheformofanad-hocpaymenttobepaidtoeachMemberthatenters theDROPorretires 
uponreachingnormalorearly retirementonorafterOctober1,2025,ortheirbeneficiary.Thesupplementalbenefitshallbepaidas soonas 
administratively possibleaftertheactuarialvaluationis completedforthepriorfiscalyearendingSeptember30.Paymentshallonly bemadeifthefundingrequirements of112.61,FloridaStatutes,aremet.Additionally,
paymentshallonly bemadeinthoseyears inwhichthenetinvestmentgainonamarketvaluebasis is inexcess ofsevenandone-half(7.5%)
percentforthepriorfiscalyearendedSeptember30andthePlanis atleastonehundredandfive(105%)percentfundedbasedontheActuarial
Ordinance1186


ValueofAssets.Thesupplementalbenefitshallsolely befundedbyinvestmentreturns oftheplaninexcess ofthesevenandone-half(7.5%)
percentnetinvestmentgaininthoseyears inwhichtheplanexperiences 
anetpositiveactuarialreturn.Themaximumbenefitpayabletoeachretireeortheirbeneficiary shallbeanamountequivalenttotheirnormalmonthly benefit,excludingany monthly supplementalbenefit.

ValueofAssets.Thesupplementalbenefitshallsolely befundedbyinvestmentreturns oftheplaninexcess ofthesevenandone-half(7.5%)
percentnetinvestmentgaininthoseyears inwhichtheplanexperiences 
anetpositiveactuarialreturn.Themaximumbenefitpayabletoeachretireeortheirbeneficiary shallbeanamountequivalenttotheirnormalmonthly benefit,excludingany monthly supplementalbenefit.
DistributionofBenefits;Limitations.Oncecertifiedby theactuary,theBoardshallnotify retireesandbeneficiaries,inpaystatus as ofSeptember30oftheprioryear,regardingtheavailability ofasupplementaldistributionforthecurrentyear.
(3)Non-GuaranteeofBenefits.By acceptanceofasupplementalbenefitdistributionunderthis Section,eachretireeandbeneficiary acknowledgethatthey havenoright,titleorinterestinany suchbenefitexceptas maybedeterminedby theBoardofTrustees.Thepaymentofasupplementalbenefitinany yearshallnotcreateany right,titleorinterestinany persontothepaymentofasupplementalbenefitinany otheryear.TheBoardofTrustees reserves theexclusiverighttoalterthemannerofpaymentofthisbenefitor,todeclinethepaymentofsuchbenefitinany yearinwhichtheBoard,intheexerciseofits fiduciary responsibility andits solediscretion,
determines itis inthebestinterestofthePlantoforegosuchpayment.
(4)Rule-MakingAuthority.TheBoardofTrustees shallhaveauthority tomakesuchuniformrules as itdeems appropriatetofacilitatethepaymentofbenefits underthis Section.
***

SECTION2:Ifany section,subsection,sentence,clause,phraseofthis ordinance,ortheparticularapplicationthereofshallbeheldinvalidby any court,administrativeagency,
orotherbody withappropriatejurisdiction,theremainingsection,subsection,sentences,
clauses,orphrases underapplicationshallnotbeaffectedthereby.

SECTION3:Itis theintentionoftheCity Councilthattheprovisions ofthis OrdinanceshallbecomeandbemadeapartoftheCodeofOrdinances oftheCity;andthatsectionsofthis Ordinancemay berenumberedorreletteredandtheword"ordinance"may bechangedto"chapter","section","article",orsuchotherappropriatewordorphraseinordertoaccomplishsuchintentions;andregardless ofwhethersuchinclusionintheCodeis accomplished,sections ofthis Ordinancemay berenumberedorreletteredandthecorrectionoftypographicaland/orscrivener’s errors whichdonotaffecttheintentmay beauthorizedby theMayororhis designee,withoutneedofpublic hearing,by filingacorrectedorrecodifiedcopy ofsamewiththeCity Clerk.

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SECTION4:Allordinancesorparts ofordinances,resolutions orparts ofresolutionsinconflictherewithareherebyrepealedtotheextentofsuchconflict.
SECTION5:This Ordinanceshallbeeffectiveuponpassage.
INTRODUCEDANDPASSEDonfirstreading,this 14thday ofApril,2026.
PASSEDANDADOPTEDONSECONDREADING,this 28thday ofApril,2026.
SECTION4:Allordinancesorparts ofordinances,resolutions orparts ofresolutionsinconflictherewithareherebyrepealedtotheextentofsuchconflict.
SECTION5:This Ordinanceshallbeeffectiveuponpassage.
INTRODUCEDANDPASSEDonfirstreading,this 14thday ofApril,2026.
PASSEDANDADOPTEDONSECONDREADING,this 28thday ofApril,2026.
,MAYOR
ATTEST:

_______________________________________
CHRISLIGHTFOOT,CITYMANAGER
Approvedas toform:

_______________________________________
Amy Myers (May 4, 2026 10:44:41 EDT)
AMYMYERS,CITYATTORNEY

Coding:Words instrikeouttypearedeletions fromexistingtext.
Words inunderlinetypeareadditions.

Ordinance1186


Ordinance1186_AdHoc-SuppBenefit2026

Ordinance1186_AdHoc-SuppBenefit2026

Created:2026-04-29By:Cicelia Rushing (crushing@cityoflynnhaven.com)
Status:SignedTransaction ID:CBJCHBCAABAApFN9Rm4TEzv5CjVr5FXCmPTAdoAO5bpX

"Ordinance1186_AdHoc-SuppBenefit2026" History


Document created by Cicelia Rushing (crushing@cityoflynnhaven.com)
2026-04-29 - 6:14:54 PM GMT

Document emailed to Dave Lowery (dlowery@cityoflynnhaven.com) for signature2026-04-29 - 6:15:10 PM GMT

Email viewed by Dave Lowery (dlowery@cityoflynnhaven.com)
2026-04-29 - 9:49:47 PM GMT

Document e-signed by Dave Lowery (dlowery@cityoflynnhaven.com)
Signature Date: 2026-04-30 - 7:47:40 PM GMT - Time Source: server

Document emailed to Chris Lightfoot (clightfoot@cityoflynnhaven.com) for signature2026-04-30 - 7:47:44 PM GMT

Email viewed by Chris Lightfoot (clightfoot@cityoflynnhaven.com)
2026-04-30 - 8:54:07 PM GMT

Document e-signed by Chris Lightfoot (clightfoot@cityoflynnhaven.com)
Signature Date: 2026-04-30 - 8:54:32 PM GMT - Time Source: server

Document emailed to amyers@handfirm.com for signature2026-04-30 - 8:54:33 PM GMT

Email viewed by amyers@handfirm.com2026-05-04 - 2:44:01 PM GMT

Signer amyers@handfirm.com entered name at signing as Amy Myers2026-05-04 - 2:44:39 PM GMT

Document e-signed by Amy Myers (amyers@handfirm.com)
Signature Date: 2026-05-04 - 2:44:41 PM GMT - Time Source: server