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1993
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5925
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Entry Properties
Last modified
12/6/2004 2:48:26 PM
Creation date
11/5/2014 12:20:25 PM
Metadata
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Template:
City Ordinances
Passed
8/16/1993
Ordinance Number
5925
Bill Number
8137
Introdate
7/26/1993
Description
Amdg 25-43, Retirement and Pensions, Normal Service Retirement, to change sucsection (3) by changing the definition
Introduced By
Schuman
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years and months. <br /> <br />In no event will the pension be less than the pension <br />accrued as of June 50, 1991, under the ordinance in <br />effect on such date. <br /> <br />(b) for employees hired prior to January 1, 1975, the <br />greater of the pension payable under (a) or the pension <br />payable under this section equal to the sum of (i) and <br />(ii) below all multiplied by 1.2. <br /> <br />(i) Two-thirds percent of final average <br />compensation plus one percent of final average <br />compensation in excess of $6,600; the sum is <br />multiplied by the period of creditable service, in <br />years and months, rendered prior to January 1, <br />1968. <br /> <br />(ii) Two-thirds percent of final average <br />compensation plus one percent of final average <br />compensation in excess of the average Social <br />Security base; the.sum is multiplied by the period <br />of creditable service,in years and months, rendered <br />subsequent to January 1, 1968. <br /> <br />The pension mentioned in this section for any month <br />shall be payable as of the last day of the month. <br /> <br /> Section 2. This ordinance shall not be construed soas <br />to relieve any person, firm or corporation from any penalt~ <br />hereto~ore incurred by the violation of Section 25 nor bar <br />the prosecution for any such violation. <br /> <br /> section 5. Any person, firm or corporation violating <br />any of the provisions of this ordinance, shall, upon <br />conviction thereof, be subject to the penalty provided in <br />Chapter 1, Section 1-8 of the Municipal Code of the City of <br />University City. <br /> <br />-2- <br /> <br /> <br />
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