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BILL NO, <br /> <br /> INTRODUCEDBY COUNCILMEMBERADAMS <br /> <br />8187 ORDINANCE NO. <br /> <br />5972 <br /> <br />AN ORDINANCE AMENDING CHAPTER 25 OF THE MUNICIPAL <br />CODE OF THE CITY OF UNIVERSITY CITY, RELATING TO <br />RETIREMENT AND PENSIONS, BY REPEALING SECTION 25-21 <br />THEREOF, AS AMENDED BY ORDINANCE NO. 5947, ENACTED <br />FEBRUARY 7, 1994 RELATING TO THE SCHEDULE OF RETIRE- <br />MENT BENEFITS, AND ENACTING IN LIEU THEREOF A NEW <br />SECTION TO BE KNOWN AS "SECTION 25-21, RETIREMENT <br />BENEFITS--GENERALLY; SCHEDULE," BY CHANGING NO. 17 <br />TO READ "UPON RETIREMENT APPLICATION APPROVAL" IN- <br />STEAD OF "UPON TERMINATION"; CONTAINING A SAVING <br />CLAUSE AND PROVIDING A PENALTY. <br /> <br /> BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY <br />CITY, MISSOURI, AS FOLLOWS: <br /> <br /> Section 1. Chapter 25 of the Municipal Code of the City <br />of University City, relating to retirement and pensions is <br />hereby amended by repealing Section 25-21 thereof, as amended <br />by Ordinance No. 5947, enacted February 7, 1994, relating to <br />the schedule of retirement benefits, and enacting in lieu <br />thereof a new section to be known as "Section 25-21. <br />Retirement benefits--Generally; schedule," by changing No. 17 <br />to read "upon retirement applicaion approval" insead of "upon <br />termination"; relating to the same subject, and re-enacting <br />said section so that said section, as so amended, shall read <br />as follows: <br /> <br />Section 25-21. Retirement benefits--Generally; schedule. <br /> <br />There shall be paid to each employee found eligible to <br />retire, and to the employeeIs spouse and children, as <br />provided in sections 25-14, 25-15 and 25-16 thereof from this <br />fund herein created, or by Workmen's Compensation benefits or <br />a combination of both, when approved by the Board of <br />Trustees, the following benefits: <br /> <br />(1) To an employee retired on account of age and service as <br />set forth in section 25-14(a), a monthly benefit equal to <br />fifty-five precent (55%) of the base monthly salary in <br />effect at the date of the employee's retirement, which <br />payment shall be made monthly during the employee'S life. <br /> <br />(2) To an employee retired on account of age and service as <br />set forth in section 25-14(b), a monthly benefit equal to a <br />percentage of the benefit described in (1) above, such <br />percentage being equal to the ratio of the employee's years <br />of service to twenty (20) years. <br /> <br />(3) To an employee retired on account of age and service as <br />set forth in section 25-14(c), a monthly benefit according to <br />the employee's attained age last birthday as follows: <br /> <br />-1- <br /> <br /> <br />