Sec. 121.101. - Control and Administration of Police and Fire Pension Fund.

(a) Pursuant to the requirements of F.S. Ch. 175 and F.S. Ch. 185, and notwithstanding any provisions to the contrary contained in Laws of Fla. Ch. 18615(1937), as amended; or this Chapter, the control and administration of the Police and Fire Pension Fund created by such special act shall be exercised by the Board of Trustees, (Board) Police and Fire Pension Fund as created and authorized by F.S. Ch. 175 and F.S. Ch. 185, and Article 22.01 of the City Charter as successor in interest to all of the authority and control previously exercised over such pension fund by the Board of Pension Administration. Employee members of the Board are entitled to leave of absence from their respective duties, without loss of vacation leave, pay, time or efficiency rating during the time which they are attending meetings of the Board or Board Committees, and at seminars, conference and training sessions conducted in Florida and elsewhere. Attendance at seminars, conferences and training sessions shall be approved by the Board in advance and the expense thereof paid from the Pension Fund, and written request for such leave shall be submitted in a timely manner. (b) The Board is authorized to appoint administrative staff to assist in the management of the Police and Fire Pension Fund. Such employees shall be appointed employees of the Board. (1) Any person in the classified civil service of the City of Jacksonville who is appointed to a position in the employ of the Board shall be deemed an unclassified employee while in the service of the Board, and shall serve at the pleasure of the Board. If such employee is then presently participating in the City's 1937 General Employees Pension Fund, and upon continuation shall make the required employee contributions thereto, and the contributions, which theretofore had been paid into the fund by the City, shall thereafter be assumed and paid by the Board. (2) Any such person shall, however, retain his or her Civil Service status and be entitled to return to the same Civil Service classification rights, status, and job value as held at the time of such appointment. (3) Any person employed by the Board shall be subject to such terms and conditions as shall be set by the Board. (c) The Board may use the Central Services of the City, but is not required to do so. Central Services and other necessary charges by the City to the Board shall be paid from the Police and Fire Pension Fund. (d) The Board shall prepare and have approved by Council an annual budget. All expenses for the administration of the Police and Fire Pension Fund and the cost to retain a certified public accountant, actuary, investment performance evaluator and other professional services shall be paid from the Police and Fire Pension Fund. (e) The Treasurer of the City shall be the treasurer for the Board and shall give such bond as prescribed by Board. (f) From and after the effective date of Ordinance 2015-304-E: (1) the Board shall not engage in the determination of pension benefits and shall leave the negotiation and future modification of pension benefits to elected City officials and certified bargaining agents; (2) Nothing in this Section shall be construed to impair the rights provided under Article 1, Section 6 of the Florida Constitution or F.S. Ch. 447; (3) All subjects of collective bargaining including but not limited to pension or retirement benefits shall be subject to the requirements of F.S. Ch. 447; (4) Nothing herein shall be construed to waive the City's or the certified bargaining agent's right to demand collective bargaining as authorized under Florida law; and (5) The City and any authorized certified bargaining agent shall have all of the rights and be subject to the provisions of F.S. Ch. 447, including but not limited to the requirement for negotiations, the term limitation set forth in F.S. § 447.309(5), and the impasse process, provided however, that the City shall not unilaterally alter Members' pension benefits, as authorized by F.S. § 447.403(4)(d), for a period of three years from October 1, 2017, and such period shall automatically extend for two additional three-year periods, and one additional one-year period, under the following circumstances: if the fiscal condition of the economy for the City of Jacksonville, as determined and certified in writing by the City's Director of Finance and Administration, within 90 days after the termination of the first three-year period, and, if applicable, within 90 days after the termination of the second three-year period, and, if applicable, within 90 days after the termination of the third three-year period, meets the all of the following requirements: (i) The average annual growth rate of the City of Jacksonville's total share of ad valorem revenues collected for Duval County for the three most recent fiscal years is no less than 2.5 percent, as provided in writing by the City's Director of Finance and Administration. For the purposes of this subsection, during a particular fiscal year, if (1) there is a millage rate reduction, and (2) the 2.5 percent threshold is not met, that particular fiscal year shall not be counted as part of the three most recent fiscal years average and instead on the remaining non-effected fiscal years shall be used to calculate the average annual growth; and (ii) The time-weighted, average annual gross return on investment for the Police and Fire Pension Fund for the three most recent fiscal years is no less than the actuarial assumed rate of return, less one percent, as provided in writing by the Police and Fire Pension Fund investment consultant. (iii) The three most recent fiscal years shall be the three fiscal years terminating prior to or during the 90-day period(s) noted above; and (iv) The automatic extension referenced above shall not take effect if the certified collective bargaining agent declares an impasse on retirement benefits. (v) The average annual growth rate in ad valorem taxes, provided for in subsection (i) above, shall be the actual cash collections, as determined by the Chief Financial Officer within 90 days of the end of the prior fiscal year. (Ord. 87-545-293, § 1; Ord. 93-1773-1045, § 2; Ord. 97-340-E, § 4; Ord. 2015-304-E , § 1; Ord. 2017-259-E , § 1)