Article 16 Pensions

ARTICLE 16 PENSIONS

Section 1. Reference is made to the Coral Springs Police Officers Retirement Plan (“the Plan”), the provisions of which are found in Chapter 13 of the City of Coral Springs, Florida, Code of Ordinances.

Section 2. Unless otherwise provided for below, the following changes will be effective upon contract ratification:

• Any member shall be entitled to buy up to five (5) years of service provided such purchased service shall not be credited toward vesting within the plan. Members purchasing such service shall be solely liable for the costs associated with the calculation of the purchase of the service. • Effective January 1, 2022, the member contribution in the Plan per Section 1312(a) of the Code of the City of Coral Springs shall increase to 11.5%. • The pension multiplier will be increased to 3.5% retroactive to October 1, 2012 for members currently employed by the City. Members employed on January 1, 2022 that are in the DROP shall have their future payments adjusted to reflect the increased 3.5% multiplier from October 1, 2012 until their entry into the DROP.

However, no member shall be entitled to a “true up” or retroactive payments. • The maximum benefit provided for in the Plan at Section 13-7(b)(1)(i) of the Code of the City of Coral Springs shall be increased to 87.5%. • The death of a member shall be presumed to be directly and proximately caused by COVID-19 and incurred in the line of duty under Section 13-9 of the Code of the

City of Coral Springs if the following conditions are met: o No competent medical evidence exists that the member’s death was directly and proximately caused by something other than COVID-19; o The member engaged in a line of duty action or activity on or after January 1, 2020; o The member was diagnosed with COVID-19 or evidence indicates that the member had COVID-19, during the 45-day period beginning with the last day the member was on duty; and o Evidence indicates that the member had COVID-19 or complications from COVID-19 at the time of their death. • A member’s disability caused by COVID-19 or complications from COVID-19 will be presumed to have incurred in the line of duty under Section 13-8 of the Code of the City of Coral Springs, if the following conditions are met: o The member engaged in a line of duty action or activity on or after January 1, 2020; and

o The member was diagnosed with COVID-19, or evidence indicates that the member had COVID-19, during the 45-day period beginning with the last day of the member’s duty. • Section 13-11(b) and (b)(1)a. shall be modified to provide for an increase of age from 70 ½ to 72 for certain benefits. • The City agrees to transfer the decision for selecting future DROP record keeping provider and vendor management to the Coral Springs Police Pension Board.

Section 3. Chapter 185 Funds

As of October 1, 2021, for all available future chapter funds, the parties agree to transfer the 185 funds to reduce the City’s Annual Required Contribution (ARC) during fiscal year 2021, 2022 and 2023.