CS/HB 1135 Summary: West Palm Beach Police Pension Fund

• Revises trustee terms for the Board of Trustees from 4 years to 2 years for all five trustees (two city residents, two elected police officers, and one fifth trustee chosen by the other four).

• Adds requirement for new members to undergo physical examination to determine preexisting conditions, conducted with the city's pre-employment physical.

• Establishes procedure allowing members who are rehired or reinstated through grievance and arbitration to return withdrawn contributions within 1 year after rehire or reinstatement (members reinstated via arbitration may repay without interest).

• Modifies normal retirement age definition for members retiring with 25 years of service to be whatever age the member has attained at that 25-year mark.

• Adds 10-year certain benefit option for unmarried members without dependents and creates death benefit provisions for DROP (Deferred Retirement Option Plan) accounts, including designated beneficiary distributions.

• Clarifies that purchase of service credit is limited to 5 years total for prior police or military service.