§ 16-50. Definitions.

(a)

City. The term "city" as used herein shall mean the City of Cocoa Beach, a Florida municipal corporation.

(b)

Participant. The term "participant" shall mean any pensioner or beneficiary receiving or entitled to receive benefits, any person with vested benefits, and any employee who accrues or retains credited service, in accordance with the provisions of the plan established pursuant to this declaration of trust.

(c)

Beneficiary. The term "beneficiary" shall mean a person designated by a participant or by the terms of the pension plan created pursuant to this declaration of trust, who is or may become entitled to a benefit, thereunder.

(d)

Trustees. The term "trustees" as used herein shall mean the Trustees designated in this Declaration of Trust, together with their successors, designated and appointed in accordance with the terms of this declaration of trust.

(e)

Trust fund. "Trust", "trust fund" and "fund" as used herein shall mean the entire trust estate of City Of Cocoa Beach General Employees' Pension Trust Fund as it may, from time to time be constituted, including, but not limited to, all funds received in the form of contributions, together with all contracts (including dividends, interest, refunds, and other sums payable to the board of trustees on account of such contracts), all investments made and held by the board of trustees, all income, increments, earnings and profits therefrom, and any and all other property or funds received and held by the board of trustees by reason of their acceptance of this declaration of trust.

(f)

Declaration of trust. The term "declaration of trust" as used herein shall mean Div. 1 of this article including all amendments and modifications as may from time to time be made.

(g)

Pension plan. The term "pension plan" or "plan" shall mean the plan, program, method, rules, and procedures for the payment of benefits from the trust fund which is part of this article.

(h)

Contributions. The term "contributions" shall mean the payments required of the City of Cocoa Beach or payments made by or on behalf of participants or their beneficiaries.

(i)

Consultant. The term "consultant" as used herein shall mean any person or entity who, for compensation, advises, represents, or provides other assistance to the board of trustees concerning the establishment, or operation of the plan as defined in subsection (j).

(j)

Administrator. The term "administrator" as used herein shall mean the board of trustees as defined in subsection (d) herein.

(k)

Custodian. The term "custodian" as used herein shall mean one (1) who is officially entrusted with guarding and keeping records and documents of this trust fund.

(l)

Named fiduciary. The term "named fiduciary" as used herein shall mean the board of trustees as defined in subsection (d) herein.

(m)

Employee. The term "employee" shall mean any full-time employee of the city who is not employed as a temporary or seasonal employee or as a firefighter, police officer, or city manager; however, a city manager who was a participant in the pension plan immediately before his or her appointment as city manager may, within thirty (30) days of such appointment and with the consent of the city commission, make an irrevocable election to remain a participant in the pension plan while serving as city manager.

(Ord. No. 1222, § 1, 11-18-1999)