R5I - Amend Police and Fire Pension System

AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AMENDING PART I, SUBPART B, ARTICLE IX, RELATED SPECIAL ACTS, OF THE MIAMI BEACH CITY CODE ENTITLED "PENSION SYSTEM FOR DISABILITY AND RETIREMENT OF MEMBERS OF POLICE AND FIRE DEPARTMENTS"; AMENDING SECTION 62, “DEFINITIONS”, ADDING DEFINITION FOR POLICE MANAGEMENT EMPLOYEES; AMENDING SECTION 79, ENTITLED "DEFERRED RETIREMENT OPTION PLAN (DROP)”, RELATED TO THE MAXIMUM DROP PARTICIPATION PERIOD; PROVIDING FOR THE REPEAL OF ALL ORDINANCES IN CONFLICT HEREWITH; CODIFICATION; SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.