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SILL NO. INTRODUCED BY COUNCILMEMBER PRICE 8163 ORDINANCE NO. 5947 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. 5924, ENACTED AUGUST 16, 1993 RELATING TO THE SCHEDULE OF RETIRE- MENT BENEFITS, AND ENACTING IN LIEU THEREOF A NEW SECTION TO BE KNOWN AS "SECTION 25-21, RETIREMENT BENEFITS--GENERALLY; SCHEDULE," BY PROVIDING THE MINIMUM MONTHLY BENEFIT OF $325 TO ALL RETIREES AND SPOUSES; CONTAINING A SAVING CLAUSE AND PROVIDING A PENALTY. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section ~. 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. 5924, enacted August 16, 1993, 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 to provide for an increase in the percentage of the base monthly salary; 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 thereof 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(a), a monthly benefit equal to fifty-five precent (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(b), a monthly benefit equal to a percentage 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. (3) To an employee retired on account of age and service as set forth in section 25-14(c), a monthly benefit according to the employee's attained age last birthday as follows: -1-