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Return of Employees' Pension Contribution Not 'Benefit'
Cypen & Cypen [Guidance Overview] Aug. 31, 2009 Excerpt: Former police officers of the City of St. Petersburg, Florida, who voluntarily terminated their employment prior to vesting in the City's Police Retirement System brought suit against the City and the Pension Board seeking a determination that they were entitled to a refund of their employee contributions. The pension plan specifically states that contributions of non-vested members are forfeited upon termination of employment. Chapter 185, Florida Statutes, was substantially revised in 1999 to provide consistency and uniformity among police pension plans created by municipalities. Section 185.01, Florida Statutes, provides that the minimum benefits and minimum standards set forth in the chapter may not be diminished by local ordinance. Section 185.19, Florida Statutes, provides that any police officer leaving service of a municipality before accumulating aggregate time of 10 years toward retirement and before being eligible to retire under provisions of the chapter shall be entitled to a refund of all of his contributions made to the pension plan, without interest, less any benefits paid to him. |
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