Pension contract set forth

The supplemental, revised, or amended pension plan for firefighters and police officers submitted by the board of trustees of the City of Tampa Pension Fund for Firemen and Policemen and the comprehensive proposed contract, in which such plan is embodied, incorporating supplemental, revisory, and amendatory provisions including increased contributions to the fund to be made by the city and by the employees, in the following form, be and the same is hereby approved and authorized, to wit:

CITY OF TAMPA FIREFIGHTERS AND POLICE OFFICERS PENSION CONTRACT

THIS AGREEMENT, made and entered into this _____ day of _______, A.D., 1969 between the City of Tampa, a municipal corporation under the laws of the State of Florida, hereinafter referred to as City, party of the first part, and ___________, hereinafter described as Employee, party of the second part, for the purpose of continuing on an actuarially sound basis the benefits provided under the pension contracts entered into or continued under Ordinance No. 2002-A, as amended.

WITNESSETH:

That whereas, the said City is authorized to enter into a contract with said Employee of the said City, under and by virtue of Chapter 21590, Laws of Florida, Special Acts of 1941, as amended, with certain modifications as were provided for in supplemental contracts heretofore entered into under Chapter 27930, Laws of Florida, Special Acts of 1951, and further modifications as are authorized by Chapter 31310, Laws of Florida, Special Acts of 1955, and provided for by Ordinance No. 2002-A, as amended, and by Ordinance No. _____, all now being in words and figures, to wit:

SECTION 1. There is hereby created a special fund to be known as the City Pension Fund for Firefighters and Police Officers in the City of Tampa (hereinafter referred to as the Fund); said Fund to be used exclusively for the purpose provided for in this Act, which Fund shall be collected, administered and disbursed according to the provisions of this Act.

SECTION 2. The said Pension Fund shall consist of monies and properties derived from the following sources, which shall be set apart and placed to the credit of such Fund:

(A)

The monies and assets now deposited to the credit of and held by the City Pension Fund for Firemen and Policemen of the City of Tampa.

(B)

Commencing October 1, 1969, the City shall contribute eleven per centum (11%) of all earnings of employees covered under this contract, which contribution shall be made at the time such earnings are paid. Commencing October 1, 1970, the City shall contribute at the rate of thirteen per centum (13%), and shall continue to increase the rate of contributions by two per centum (2%) on each October 1 thereafter, until such time as a continuation of the then current rate of contribution (or lesser rate of contribution), together with contributions provided for in Section 2(C), Section 2(D), and contributions expected from other sources, shall, pursuant to the most recent actuarial report, be sufficient if continued at such level, to fund:

(1)

The normal annual cost of the benefits (other than benefits arising from post retirement adjustments made pursuant to Section 23) provided for in this contract; and

(2)

Any remaining unfunded past service cost of such benefits over a period of forty years from the date of the last actuarial report;

(3)

Where such costs are determined on a basis consistent with the requirements of actuarial soundness, and the requirements of Chapters 175 and 185 of the Florida Statutes, as they may be amended from time to time, provided that the investment yield assumed in determining such costs shall not exceed 5%. After such time the City shall contribute at such rate of earnings which will be sufficient, if continued, to fund the normal cost each year and the remaining unfunded past service cost over a period of forty years from the date of the most recent actuarial report received from time to time;

(4)

Provided, however, that in no case shall the contributions by the City in any year, and exclusive of income from other sources, be less than one hundred thirty-three per centum (133%) of the total sum contributed by employees as provided in (D) below; it being expressly understood that when the requirements for continued actuarial soundness of the plan are determined to require less contributions than would result hereby the contributions from the City and employees will be proportionately reduced to rates which will reasonably generate such reduced amount.

(C)

The City shall make additional contributions each year as follows:

(1)

In the event that the average earnings of all of the members covered under this contract for any twelve month period ending September 30 (determined for this purpose as the total earnings for such period divided by the average of the number of members covered at the beginning and end of the period), shall exceed the similar average earnings for the preceding twelve month period by A%, then commencing on October 1 an additional annual contribution shall be made by the City, equal to A% multiplied by the total earnings for the twelve months preceding such October 1, and multiplied by the pension cost factor associated with such increases as set forth in the most recent actuarial report received from time to time, subject to (2) below;

(2)

Such additional contributions, together with contributions similarly determined in previous years, shall continue to be paid each year on a cumulative basis until the contributions from all sources (other than investment income) shall meet the standards set forth in Section 2(B)(1), (2), (3), and (4) after which time such contributions shall be reduced as provided for in the most recent actuarial report received from time to time.

(D)

Commencing October 1, 1969, the employees covered under this contract shall contribute at the rates set forth below, based upon all of their earnings during each twelve month period commencing on October 1, which contributions shall be deducted from said earnings before the same are paid and shall be promptly deposited in the Fund: EXPAND Earnings in Twelve-month Period Commencing October 1 Employee Contribution Rate First $4,000  6% Next  $1,000  7% Next  $1,000  8% Next  $1,000  9% Next  $1,000 10% Next  $1,000 11% Next  $1,000 12% Next  $2,500 15% Excess over $12,500 25%

provided, that if the City's rate of contribution, pursuant to Section 2(B), should exceed forty per centum (40%) the employee contribution scale above shall be increased in the ratio of the City's contribution rate, pursuant to Section 2(B) to forty per centum (40%).

(E)

All monies and assets which shall be received by the Board for deposit to the credit of or for the account of the Fund from all other sources including the State of Florida.

(F)

No monies raised by taxation or otherwise provided for said Pension Fund shall be used other than for the purposes of this Act.

SECTION 3. When used herein the following terms shall have the following meanings:

(A)

The term "employee" shall mean any member of the Fire or Police Department employed as a firefighter or police officer, and whose employment shall be regular and continuous and not of a temporary character.

(B)

The terms "firefighter" and "police officer" shall be synonymous with the term "employee" as defined above.

(C)

The term "member" shall mean an employee contributing or required to contribute to the Fund and entitled to participate in the benefits thereof upon the terms and conditions hereof.

(D)

The terms "widow" and "widower" shall mean the lawful wedded spouse of a member of the Fire or Police Department at the time of such member's death.

(E)

The term "earnings" shall mean the base salary or wage exclusive of any casual, non-recurring, or unpredictable overtime, bonuses, or other special payments, providing that regular longevity bonuses shall be included.

(F)

The term "actuary" shall mean a Fellow or Associate of the Society of Actuaries, or a firm employing such person, provided that such firm must be nationally recognized in the actuarial field and acceptable to the State Treasurers Office and to the Board of Pension Trustees.

(G)

The term "actuarial report" shall mean a report prepared at least once every five years and in any year in which the average earnings of members increases more than two per centum (2%) of the average earnings the year before, and in any year in which the same shall be required by Chapters 175 and 185, Florida Statutes; such study to be prepared by an actuary and accepted by the Board of Trustees; determining the costs of all benefits provided for under this Act as a result of employment of members and former members, including a review of experience and a determination of a pension earnings increase factor or factors, and including determination of the effect of adjustments for expected cost-of-living index changes, based upon the data current as of the effective date of the report; and, based upon cost methods, factors, and assumptions consistent with actuarial soundness, and acceptable to the State of Florida as being consistent with the requirements of Chapters 175 and 185 of the Florida Statutes as they may be from time to time amended.

(H)

Wherever the term "he" or "him" appears herein the same shall also include "she" or "her" when applicable.

SECTION 4. Before any person shall become a member of the Pension Fund he or she shall be at least twenty-one (21) and not more than thirty-one (31) years of age, be required to pass a complete medical examination including a Wasserman Test, electro-cardiogram, x-ray of the entire spine, and two (2) x-rays anterior-posterior and lateral view of the lumbar sacral spines; and meet all the requirements of the Civil Service Board of the City except the probationary period.

SECTION 5. The general administration and responsibility for the proper operation of the pension system and for making effective the provisions of this Act are hereby vested in a board consisting of nine persons, as follows:

(1)

Three members of the City Administration other than firefighters or police officers to be appointed as hereinafter provided;

(2)

Three members of the Fire Department to be elected as hereinafter provided; and

(3)

Three members of the Police Department to be elected as hereinafter provided.

(A)

The term of office of each trustee shall be three years, except that the initial terms of the trustees of each class shall respectively be for one, two, and three years. The initial terms shall commence on the 60th day after the ordinance approving and authorizing this contract shall become a law.

(B)

The appointive trustees shall be appointed by the Mayor.

(C)

The elective trustees shall be elected in the following manner, to wit: by per capita vote of all members of each of said respective departments who come within the purview of this Act, both active and retired, at meetings to be held at places designated by the Board, at which meetings all qualified members entitled to vote shall be notified in person or by mail ten days in advance of said meeting. The candidate receiving the highest number of votes for each office shall be declared elected and shall take office immediately upon commencement of the term of office for which elected or as soon thereafter as he shall qualify therefor. An election shall be held each year not more than thirty and not less than ten days prior to the commencement of the terms for which trustees are to be elected in that year. The Board of Trustees shall meet, organize, and elect one of their members as chairman, and one member as vice chairman, within ten days after any trustees are elected and duly qualified.

(D)

If a vacancy occurs in the office of trustee, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.

(E)

The trustees shall serve without compensation, but they may be reimbursed from the expense fund for all necessary expenses which they may actually expend through services on the board.

(F)

Each trustee shall, within ten days after his appointment or election, take an oath of office before the City Clerk of said City, that so far as it devolves upon him he will diligently and honestly administer the affairs of the said Board, and that he will not knowingly violate or willingly permit to be violated any of the provisions of the law applicable to the retirement system. Such oath shall be subscribed to by the member making it and certified by the said clerk and filed in his office.

(G)

Each trustee shall be entitled to one vote on the Board. Five votes shall be necessary for a decision by the trustees at any meeting of the Board. The chairman shall have the right to one vote only.

(H)

Subject to the limitations of this Act the Board of Trustees shall from time to time establish rules and regulations for the administration of funds created by this Act and for transaction of its business, including provisions for compulsory attendance of its members, which shall have the force of law.

(I)

The Board of Trustees shall by majority vote of its members appoint a secretary, who may, but need not be, one of its members. It shall engage such actuarial and other services as shall be required to transact the business of the pension system. The compensation of all persons engaged by the Board of Trustees and all other expenses of the Board necessary for the operation of the retirement system shall be paid at such rates and in such amounts as the Board of Trustees shall agree, but in no case shall the expenditures for such services or operations exceed three per cent of the maximum of the fund each fiscal year. All funds shall be disbursed by the Board of Trustees. The secretary shall be bonded in such amount, not less than five thousand dollars, as the Board shall determine. The premium for said bond to be paid out of this fund.

(J)

Any trustee who neglects the duties of his office shall be removed by the Board of Trustees.

SECTION 6. Money shall be withdrawn from the Pension Fund created by this Act only upon warrants executed by a majority of the Board of Trustees. Monies needed for the meeting of the current obligations of said fund may be deposited in a depository recognized by law for the deposit of funds of the State of Florida and upon the posting of similar security for that required for state deposits. The Board shall have exclusive charge of the investment of any surplus in said fund not needed for the current obligations thereof; and said funds shall be managed by said Board and shall be invested by said Board in accordance with the following:

(1)

That the Board shall retain the services of a nationally recognized professional investment counsel.

(2)

That not less than once every six (6) months a written opinion shall be obtained from the investment counsel as to the overall condition and composition of the investment portfolio.

(3)

That the portfolio, representing the principal or surplus funds of the Pension Fund may be invested in the following securities or other property, real or personal, including, but without being limited to, bonds, notes, or other evidences of indebtedness issued, or assumed or guaranteed in whole or in part by the United States or any of its agencies or instrumentalities; or by the Dominion of Canada or any of its provinces, cities or municipal corporations; or by the State of Florida, or by any county, city, school district, municipal corporation, or other political subdivision of the State of Florida, both general and revenue obligations; in mortgages and other interests in realty; or in such corporation bonds, notes, or other evidences of indebtedness, and corporation stocks including common and preferred stocks, of any corporation created or existing under the laws of the United States or any of the states of the United States, or of the Dominion of Canada, provided that in making each and all of such investments the Board of Trustees shall exercise the judgment and care under the circumstances then prevailing which men of ordinary prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income therefrom as well as probable safety of their capital; provided, however, that not more than sixty-five per centum (65%) of said fund, based on the total book value of all investments held, shall be invested at any given time in common stocks, and that not more than five per centum (5%) of said fund shall be invested at any given time in the preferred and common, or either, stock of any one corporation and its affiliates.

SECTION 7. BENEFITS, PENSIONS TO MEMBERS—COMPULSORY. The Board shall upon its application retire:

(A)

Any member of the Fund having an aggregate of twenty (20) years of actual service in said departments, and having reached the age of forty-six (46) years, who then shall receive in monthly installments a pension equal to fifty per centum (50%) of the member's average earnings for the three (3) highest years within the last ten (10) years of service with a minimum pension of One Hundred Dollars ($100.00) per month. For each additional year of such actual service after twenty (20) years, a member shall receive two and one-half per centum (2½%) of average earnings not to exceed a total pension of sixty-five per centum (65%) of said average earnings. After twenty (20) years actual service, and having reached the age of forty-six (46) years, this pension right shall be a vested right with the payment thereof to begin upon employee's separation from the service.

(B)

Any member who in the service has received or shall receive within or without the city any injuries, disease or disability, which injury, disease or disability now permanently incapacitates him physically or mentally from regular and continuous duty as a firefighter or police officer, then he shall receive in equal monthly installments an amount equal to 65% of monthly salary in effect at date of disability retirement with a minimum of one hundred dollars ($100.00) per month, plus 1/12 of any other earnings received within one year prior to date of disability retirement.

(C)

Any member who after ten years of service in said departments has received or shall receive otherwise than in the service of the said departments any injury, disease or disability, which injury, disease or disability now permanently incapacitates or shall in the future permanently incapacitate him physically or mentally from regular and continuous duty as a firefighter or police officer, then he shall receive in equal monthly installments an amount equal to 2% of his average salary (as above computed) for each year of service with a minimum of 20% and a maximum of 50% of average salary.

SECTION 8. If any member of either department shall lose his life or later die from injuries or causes occurring while in the discharge of his duties, and shall leave a widow or widower, or child or children under the age of eighteen (18) years, the Board shall authorize and direct payment of a pension to the widow or widower and/or child or children, but only in the following amounts and on the following conditions:

(A)

To the widow or widower in equal monthly installments an amount equal to fifty per centum (50%) of the member's final year's earnings, computed from date of death, until death or remarriage.

(B)

For each child until he or she shall have reached the age of eighteen (18) years, or until such child or children shall die or marry before reaching the age of eighteen (18) years, in equal monthly installments an amount equal to seven and one-half per centum (7½%) of the final year's earnings, computed from date of death, subject to a limitation of a total of sixty-five per centum (65%) of final yearly earnings for widow or widower and children combined. Children's pensions shall terminate at death or marriage as well as reaching age eighteen (18). Adopted children shall participate.

(C)

Upon remarriage or death of widow or widower the seven and one-half per centum (7½%) child allowance shall be increased to fifteen per centum (15%) for each child, and shall be paid in trust to eligible children, not to exceed a total of fifty per centum (50%) of member's final earnings.

(D)

The trusteeship and disbursement of the pension to any child or children is to be determined by the Board of Trustees.

(E)

No pension shall be allowed to any stepchild or stepchildren of a deceased member.

SECTION 9. To the widow or widower (until death or remarriage) and child or children (under the age of eighteen (18) years), until death or marriage before reaching the age of eighteen (18) years, of any member who dies from causes not attributed to his active duties in the departments, provided, however, that such member shall have been a member of such department for ten (10) years prior to the date of his death, the Trustees shall authorize and direct payment in equal monthly installments as follows:

(A)

To the widow or widower in equal monthly installments sixty-five per centum (65%) of the service retirement pension earned by the member at date of death, subject to a minimum payment equal to twenty per centum (20%) of average salary (as average salary is above computed).

(B)

To the child or children of a member who dies from causes not attributed to active duties in the department, the provisions of Section 8, governing the amounts and conditions of administration of childrens' pensions, shall apply but subject to a limitation on the combined payments to a widow or widower and children equal to fifty per centum (50%) of final salary.

(C)

The widow or widower of a member who dies while receiving a retirement pension shall receive sixty-five per centum (65%) of the pension which the member was receiving, but subject to a minimum of twenty per centum (20%) of average salary (as average salary is above computed); provided however, that no pension shall be allowed to any widow or widower unless she or he was married to the member prior to the date of retirement of the member.

(D)

No pension shall be allowed to any stepchild or stepchildren of a deceased member.

SECTION 10. Any firefighter or police officer of the City who makes his legal election as provided herein, and who shall make the contribution required to be made hereunder into the Pension Fund, shall be permitted to participate in the fund and benefits thereof, herein and hereby authorized, but nothing herein contained shall be construed as to require or compel any employee to participate in the said pension system.

SECTION 11. All persons entering the employ of the City, as firefighters or police officers subsequent to the time when this Act shall have become a law, shall be required to file their legal election with the City, on or before ninety days from the date of their employment, in order to entitle them to participate in the benefits and funds herein created and authorized by this Act.

SECTION 12. Whenever any employee, within the terms of this Act, shall file his election with the City of Tampa as hereinbefore provided, the City, within thirty (30) days thereafter, is hereby authorized, empowered and directed to execute a contract as provided for herein in triplicate, one copy to be retained by the City, one copy to be retained by the Pension Board, and the other copy to be delivered to the said employee joining in said contract, and shall thereafter be and remain a contract binding upon the said City and the employee, and enforceable in any Court in the State of Florida having jurisdiction of actions upon contracts in like amount, and by such relief, ordinary or extraordinary, at law, or in equity as may be suitable or appropriate in similar cases.

SECTION 13 . MEDICAL BOARD. The Board of Trustees shall designate a Medical Board to be composed of three physicians who shall arrange for and pass upon all medical examinations required under the provisions of this Act, shall investigate all essential statements or certificates made by or on behalf of a member in connection with an application for disability or retirement and shall report in writing to the Board of Trustees its conclusions and recommendations upon all matters referred to it. The payment for such services shall be determined by the Board of Trustees.

SECTION 14 . On compulsory retirement of a member by act of the Board of Trustees any such retired member shall have the right to appeal against such retirement by the Board of Trustees by appealing to a court of proper jurisdiction, and said member shall defray his own expense in his appeal of such compulsory retirement.

SECTION 15 . Members entitled to a pension shall not forfeit the same upon dismissal from the department, but shall be retired as herein described.

SECTION 16 . In the event a member who has been retired on a pension on account of permanent incapacity regains his full health and is shown to be physically able to perform his duties in the Fire or Police Department, the Board shall require the said member to resume his position in the respective department and discontinue the pension; provided, however, that, if such member shall have been retired for disability in line of duty, shall not have reached the age of forty-six (46) years and shall within eighteen (18) months after resuming his position pay into the fund an amount equal to the aggregate contributions (computed upon his annual earnings at the time of his disability retirement) he would have been required to make hereunder during the period of his disability retirement had he not been retired, such member shall receive creditable service for the period of such disability retirement.

SECTION 17 . COMPUTATION OF PENSION SERVICE.

(A)

In computing service allowance, creditable service shall include all service or employment of the member in the Fire or Police Department, either continuous or interrupted, provided, however, that any leave of absence without pay shall not be included. However, no deduction of time shall be made for any service, not to exceed the period of three (3) years, in any of the Armed Forces of the United States; provided that such member within one (1) year and six (6) months after his honorable discharge from such active military service, shall contribute into the Pension Fund the required percentage of his earnings at the time of his entering active military service as aforesaid for the full period of time of such active military service within said three (3) year period; provided further that the amount of any pension or compensation that may be received from the Federal Government on account of disability from such service shall be deducted from the amount of any pension due under this Act. The deduction of the amount of any pension or compensation received from the Federal Government shall be made only where the period of military service (not exceeding three (3) years) is added to the period of actual service of the member in either the Fire or Police Department in order to make up the required number of years for retirement on a City pension; that the disability for which any pension or compensation is received from the Federal Government shall be only such disability that was incurred in the military service during the same period on military service used by the member to add to his actual service in the Police or Fire Department in order to make up the number of years required for retirement on a City pension; and that no deduction of the amount of any pension or compensation received from the Federal Government can or shall be made from the amount of any City pension granted solely on account of disability. Any member who, in order to perform such active military service, has left his employment in the Police or Fire Departments of the City of Tampa and (a) who received a certificate of honorable discharge upon completion of such active military service, (b) is still qualified to perform the duties of such position, (c) makes or shall have made application for reemployment within thirty (30) days after he is released from active military service, shall be restored by the Police or Fire Department of the City of Tampa to such position or a position of like seniority, status and pay.

(B)

Immediately upon the passage of this Act the Board of Trustees shall at once establish the service record of all employees who may be entitled to participate in the benefits of this Act and shall keep a record thereof.

SECTION 18 . No pension provided for herein shall be assignable or subject to garnishment for debt or for other legal process.

SECTION 19 . DURATION OF MEMBER'S PENSION. Pensions granted to retired members shall be paid to them for life and shall not be revoked nor in any way diminished except as provided in this Act, and the payments of the member to this fund shall cease upon his retirement and acceptance of a pension.

SECTION 20 . The Board of Trustees shall direct that there be included in the pension list, and be subject to the benefits of this Act, all pensions now being paid by the Fund to widows and children and retired members of the Fire and Police Departments who are now drawing a pension from said fund or may be hereafter entitled thereto, but not to exceed the maximum provided by this Act, and are hereby directed to pay said pensions.

SECTION 21. The Board of Trustees shall have the power to examine into the facts upon which any pension shall have heretofore been granted under any prior or existing law, or shall hereafter be granted under this Act, and ascertain if any pension has been granted or obtained erroneously, fraudulently or illegally for any reason. Said Board is empowered to purge the pension rolls of any person heretofore granted a pension under prior or existing law, or hereafter granted under this Act, if the same is found to be erroneous, fraudulent or illegal for any reason; and to reclassify any pensioner who has heretofore under any prior or existing law, or who shall hereafter under this Act, be erroneously, improperly or illegally classified.

SECTION 22 . Whenever any member in the service of either the Fire or Police Department shall sever his connection with such department, either voluntarily or by lawful discharge, all rights under this Act shall thereupon cease automatically unless at the time of such discharge or voluntary retirement such member has qualified under the terms of this Act for a pension as herein provided for. Upon severance prior to qualifying for retirement, a member shall receive a refund of contributions without interest. On death of a member where no survivors are eligible to pension benefits, contributions without interest shall be paid to heirs.

SECTION 23 .

(1)

Commencing September 30, 1970, the size of the Fund, determined on a market value basis, shall be compared with the amount that would have been in the Fund, had the Fund earned 5%, inclusive of realized and unrealized capital gains and losses, compounded annually from October 1, 1969. If on any September 30 the actual fund exceeds the 5% accumulation the excess will be known as the Post Retirement Adjustment Account, provided that for this purpose the 5% accumulation will not be reduced by any post-retirement benefit adjustment payments.

(2)

Commencing January 1, 1980, and on each January 1 thereafter, installments due in the following twelve months to members and beneficiaries covered under this contract shall be increased or decreased by (a) below, but shall not be increased by more than (b) below:

(a)

The increase or decrease since the preceding January 1, in the ratio of the current average cost-of-living index to the average cost-of-living index determined as the later of October 1, 1978, and the October 1 immediately preceding the date such installments commenced, rounded off to the nearest whole per centum.

(b)

The increase which can be applied and continued for remaining installments, by using the excess, if any, on the preceding September 30 of the Post Retirement Adjustment Account over the value of previous cumulative adjustments if continued for remaining installments, all as determined by the Actuary.

(c)

Provided that the effect of such cumulative adjustments shall not be such as to reduce installment payments below the rate at which they would have been paid if no such adjustments had ever been made.

(d)

The "average cost-of-living index" shall be ascertained each year; determined as the average of the immediately preceding 24 monthly consumer price index figures, relative to the United States as a whole, known as "The Revised 1964 Consumer Price Index Series, Beginning with January, 1964 (Base 1957—1989 = 100)," most recently issued as of such date by the Bureau of Labor Statistics. Should the base point or basis of the monthly Consumer Price Index be revised by the Bureau of Labor Statistics, this term shall mean the published average as adjusted by the Board of Trustees with advice from the Actuary so as to maintain consistency in index figures for purposes of this Plan.

WHEREAS, it is beneficial to the said City to have its employees protected by the terms of said fund and benefits and the said employee is desirous of participating in said fund and benefits, it is thereupon,

UNDERSTOOD AND AGREED by and between the parties that the party of the second part does hereby allot, out of his salary, wages or compensation, paid to him by the said City, the required percentage of his earnings and does hereby authorize and direct the disbursing officer or officers of said City to retain out of said wages, salary or compensation said percentage in compliance with the terms of the aforesaid Act of the Legislature, and to continue to make said allotment and authorize said deduction throughout the entire time of his employment or reemployment, or until such time as he shall be entitled to receive the pension allowance or benefit provided by the Fund created in the aforesaid Act.

IT IS FURTHER UNDERSTOOD AND AGREED by and between the parties that the said Board will accept said allotment or deduction from the salary, wages or compensation of said employee aforesaid, and when, under the terms of the aforesaid Act, said employee or other beneficiary of said employee shall be entitled, under the terms of the aforesaid provisions to receive the benefits from said Fund therein created, will pay said sum or sums from said Fund and all other benefits so authorized to said employee or his other beneficiaries, in accordance with said terms without diminution or deduction.

IT IS FURTHER UNDERSTOOD AND AGREED that this contract shall remain in force without change, modification or amendment, until all the purposes now intended to be fulfilled shall have been fully performed, except that payment or other benefits to the party of the second part or such party's beneficiaries may be increased but not diminished except as provided in Section 23 .

IT IS FURTHER UNDERSTOOD AND AGREED that employees shall not lose any rights under the terms of this contract by reason of the refusal of the City at any time during the terms hereof to make allotment or deduction from such employees' earnings.

IT IS FURTHER UNDERSTOOD AND AGREED that it is the intention of the parties hereto to create vested rights in the respective parties not to be hereinafter impaired for any cause whatsoever.

IT IS FURTHER UNDERSTOOD AND AGREED that the terms of the provisions hereinbefore set forth are declared to be a part of this contract and this contract is to be construed with reference thereto.

IT IS FURTHER UNDERSTOOD AND AGREED that this contract supersedes any and all contracts heretofore entered into by the parties hereto upon or relating to the subject matter hereof and that any and all of such contracts are supplemental by replacement hereby as of the day and year first above written.

IN WITNESS WHEREOF the party of the first part has hereunto caused these presents to be executed, signed and sealed, with the seal of said City, by its duly authorized officers, and the said party of the second part has hereunto set his hand and seal the day and year first above written.

CITY OF TAMPA

By _____ Mayor

ATTEST:

___________ City Clerk

_____ (SEAL) "Party of the Second Part"

___________ ___________ Witnesses as to Party of the Second Part

(Code 1971, § 28-17)