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OCT 2 1 198EBOOK F'$uCr r <br />83 <br />The Indian River County ordinance is scheduled to go into <br />effect on November 1, 1986. 1 have advertised the proposed <br />amendments to this ordinance as suggested by the railroad <br />for November 18, 1986. Mr. Risner is willing to appear <br />before the Board at the public hearing to explain the <br />Florida East Coast Railway's position on this matter. At <br />that time Mr. Risner may also be able to answer any other <br />questions you may have regarding the affect of this <br />ordinance and the experience his company has had with such <br />ordinances in other jurisdictions. <br />Assistant County Attorney Jim Wilson explained that he <br />placed this on today's Agenda just as an information item. <br />UPGRADING OF RETIREMENT SERVICE BY ELECTED COUNTY OFFICIALS <br />The Board reviewed the following memo dated 10/3/86: <br />TO: Iva� Boardof County Commissioners — — — <br />DATE: October 3, 1986 <br />SUBJECT: Upgrading of RetirementAService by Elected County <br />Officers <br />FROM: Bruce Barkett <br />Assistant Cgunty Attorney <br />Elected County officers are permitted by state law to <br />purchase additional retirement credit in the Elected State <br />Officers' Class of the state retirement system. Chapter <br />86-180, Laws of Florida, provides a limited period of time <br />within which an elected County officer may declare his <br />intent to purchase additional retirement credit in the <br />Elected State Officers' Class of the state retirement system <br />by paying only one-half of the contributions and interest <br />due the System Trust Fund for the purchase of the additional <br />retirement credit if the other half is paid by the County <br />employer.• The period of time within which this election <br />must be made ends December 31, 1987 or before leaving <br />office, whichever occurs first. - <br />The Department of Administratiorr has circulated a MEMORANDUM <br />which explains that an officer resigning or seeking <br />reelection must declare his intent to purchase additional <br />retirement credit and actually make a payment of $1,000.00 <br />prior to leaving office. This payment declares the <br />officer's intent to upgrade service and will be applied <br />toward the cost of the upgraded service. <br />Further, the agency which elects to make payment of one-half <br />the contribution necessary for the officer to receive the <br />upgraded service must make its entire payment before the <br />officer leaves office. Thereafter, the remaining amount due <br />to upgrade the service may be paid by the off icer at any <br />time prior to retirement. <br />72 <br />