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INTRODUCED BY COUNCILMEMBER ADAMS BILL NO. 7772 ORDINANCE NO. 5568 AN ORDINANCE AMENDING CHAPTER 25 OF THE MUNICIPAL CODE OF THE CITY OF UNIVERSITY CITY, RELATING TO RETIREMENT AND PENSIONS, BY REPEALING SECTION 25-21 THEREOF, AS AMENDED BY ORDINANCE NO 5296, ENACTED JULY 27, 1981, RELATING TO THE SCHEDULE OF RETIREMENT BENEFITS, AND ENACTING IN LIEU THEREOF A NEW SECTION TO BE KNOWN AS "SECTION 25-21 RETIREMENT BENEFITS--GENERALLY; SCHEDULE," BY AMENDING THE SCHEDULE FOR BENEFITS FOR RETIREES WHO RETIRE WITH TWENTY-FIVE (25) OR MORE YEARS OF SERVICE AND TWENTY-FIVE (25) YEARS MEMBERSHIP IN THIS FUND AND INCREASING THE BENEFITS OF CERTAIN CURRENT RETIREES; CONTAINING A SAVING- CLAUSE AND PROVIDING A PENALTY. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. Chapter 25 of the Municipal Code of the City of University City, relating to retirement and pensions is hereby amended by repealing Section 25-21 thereof, as amended by Ordinance No. 5296, enacted July 27, 1981, relating to the schedule of retirement benefits, and enacting in lieu thereof a new section to be known as "Section 25-21. Retirement benefits--Generally; schedule," by amending the schedule for benefits for retirees who retire with twenty-five (25) or more years of service and twenty-five (25) years membership in this fund and increasing the benefits of certain current retirees; relating to the same subject, and re-enacting said section so that said section, as so amended, shall read as follows: Section 25-21. Retirement benefits---Generally; schedule. There shall be paid to each employee found eligible to retire, and to the employee's spouse and children, as provided in sections 25-14, 25-15, and 25-16 hereof from this fund herein created, or by Workmen's Compensation benefits or a combination of both, when approved by the Board of Trustees, the following benefits: (1) To an employee retired on account of age and service as set forth in section 25-14(1) , a monthly benefit equal to fifty- five percent (55%) of the base monthly salary in effect at the date of the employee's retirement, which payment shall be made monthly during the employee's life. (2) To an employee retired on account of age and service as set forth in Section 25-14(2) , a monthly benefit equal to a per- centage of the benefit described in (1) above, such percentage being equal to the ratio of the employee's years of service to twenty (20) years.