The purpose of this division is to implement the provisions of chapter 28230, Acts
of Florida 1953 being Florida Statutes, chapter 185, and to provide means whereby
city police officers may receive benefits from the funds provided for that chapter
by chapter 28230, Acts of Florida 1953; the fund hereby created being derived from
moneys received from the State of Florida and not from a tax levied by the city taxpayers,
shall be in addition to any other pension plans of the city and nothing herein shall
be construed to in any way affect the operation of benefits of any other pension plan
of the city that presently exists. Effective October 1, 2008, the City of Lake Worth
entered into an interlocal agreement with Palm Beach County Sheriff's Office ("PBSO")
providing for the provision of law enforcement services by PBSO to the city. Pursuant
to the 2008 interlocal agreement, all police officers employed by the city became
employees of PBSO on October 1, 2008. Each city police officer who became employed
by PBSO pursuant to the 2008 interlocal agreement had the choice to remain a participant
of this plan or become a member of the Florida Retirement System. Effective October
1, 2008, the Lake Worth police relief and pension fund, division 2, continued to cover
those city police officers who became employed as PBSO deputies pursuant to the 2008
interlocal agreement and elected to continue participating in this division 2 plan.
Effective July 1, 2013, the assets of division 1 and division 2 of the Lake Worth
Police Relief and Pension Fund were combined. Effective that date, the division 2
assets became an integral part of the division 1 assets for both administrative and
investment purposes. This merger is intended to be nothing more than a combining of
assets and there is no intent to modify any of the benefits provided, or obligations
imposed, in the Lake Worth Police Relief and Pension Fund divisions 1 and 2.
