HomeMy WebLinkAboutOrdinance 1983-013 Amending Definition of Final Average Earnings for General Employees Retirement BenefitORDINANCE NO. 13-83
AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA,
AMENDING SECTION 2-146 OF THE VILLAGE OF NORTH PALM BEACH ODDE BY
AMENDING THE DEFINITION OF FINAL AVERAGE EARNINGS FOR THE RETIREMENT
BENEFIT FOR EMPIAYEES OF THE VILLAGE OF NORTH PALM BEACH,
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FIARIDA:
Section 1. Section 2-146 of the Village of North Palm Beach
Code is hereby amended by amending the definition of "Final Average
Earnings" set forth in said Section to read as follows:
Section 2-146.
Final Average Earnings means the arithmetic average of the
twelve months earnings for the highest sixty (60) months of the one
hundred twenty (120) consecutive months of service immediately
preceding the retirement or termination of a member.
Section 2. This Ordinance shall take effect immediately
upon passage.
PLACED ON FIRST READING THIS 1lth DAY OF AUGUST , 1983.
PLACED ON SECOND, FINAL READING AND PASSED THIS 8th DAY OF
SEPTEMBER , 1983.
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VICE MAYOR
ATTEST:
Village Clerk