§ 33.725. SHARE PLAN.

Latest version.

A defined contribution plan component ("share plan") is hereby established in accordance with F.S. § 185.35(6). The share plan shall be funded solely by premium tax revenues received by the city pursuant to F.S. Ch. 185, and allocated to the share plan; however, nothing herein shall be construed to require funding of, or guarantee a benefit under this section. The share plan shall not be activated until F.S. Ch. 185 premium tax revenues are allocated to the share plan. At such time as the city and union mutually agree to allocate F.S. Ch. 185 premium tax revenues to the share plan, the city and union will negotiate the details of the share plan.

(Ord. No. 17-18 , § 3, passed 9/6/18)

                    
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