Pursuant to the requirements of F.S. § 185.35(6), a defined contribution plan ("DC
Plan") is hereby created, which DC Plan shall comply with the Internal Revenue Code
if activated and funded. This DC Plan shall be a component of the retirement plan
and exist in conjunction with the defined benefit component that meets minimum benefits
and minimum standards.
(b)
The DC Plan shall not be activated unless and until a portion of premium tax revenues
has been assigned to fund the DC Plan as negotiated by the parties to the applicable
bargaining unit contracts, or if mutual consent on the use of premium tax revenues
is not achieved and the statutory default is engaged pursuant to Chapter 2015-39,
Laws of Florida.
(Ord. No. 17O-01-101, § 5, 1-30-2017)
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