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5926
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Last modified
12/6/2004 2:48:26 PM
Creation date
11/5/2014 12:20:25 PM
Metadata
Fields
Template:
City Ordinances
Passed
8/16/1993
Ordinance Number
5926
Bill Number
8138
Introdate
7/26/1993
Description
Amdg Chap 25-33, Definitions, retirement and pensions, so as to add the definition of "the average social security base"
Introduced By
Wagner
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Beneficiary. Any person in receipt of a benefit from <br />the retirement system as a result of the death of a <br />member or retiree. <br /> <br />Board of Trustees. The Board provided for in Section <br />25-54 to establish policy and rules for the admini- <br />stration of the retirement system. <br /> <br />Compensation. The wage or salary paid an employee <br />for any period excluding expense allowances. <br /> <br />Creditable service. The period of service which is <br />creditable in accordance with Section 25-41. <br /> <br />Employee. Any appointive probationary or permanent <br />full-time employee of the City, excluding members of <br />the Police and Firemen's RetlrementSystem otherwise <br />established by the City. In case of doubt as to <br />whether any person is an employee within the meaning <br />of this article, the decision of the Board of Trustees <br />shall be final. <br /> <br />Final average compensation.' The average annual compen- <br />sation received by a member for the three consecutive <br />years of creditable service in which the highest <br />compensation was received during the ten years of <br />creditable service immediately preceding the termination <br />of his employment. If a member has less than three <br />consecutive years of creditable service, then his "fidal <br />average compensation" shall be the average compensation <br />received by him during the number of his consecutive <br />years of creditable service prior to such date. <br /> <br />Member. A member of the retirement system as defined <br />in this section. <br /> <br />Operative date. The date this retirement system becomes <br />operative which shall be July 1, 1966. <br /> <br />Pension. The aAnual payments for life which shall be <br />payable in equal monthly installments to a retiree or <br />to a beneficiary. <br /> <br />Retiree. A member who has retired and is entitled to <br />benefits from the retirement system. <br /> <br />Retirement system. The non-uniformed employees <br />retirement system of the City. <br /> <br />Service retirement date. The date of actual retirement <br />of a member for reasons other than disability. <br /> <br />Widow. The spouse of a member at the date of his or her <br /> <br /> <br />
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