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5972
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Last modified
12/6/2004 2:48:14 PM
Creation date
11/5/2014 12:20:43 PM
Metadata
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Template:
City Ordinances
Passed
6/20/1994
Ordinance Number
5972
Bill Number
8187
Introdate
6/6/1994
Description
Amdg chap 25-21 Retirement Benefits, by changing No. 17 to read "upon retirement application approval" instead of "upon termination"
Introduced By
Adams
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Age in <br /> <br />Years <br /> <br /> Percentaqe of <br />Base Monthly Salary <br /> <br />50 40% <br />51 44% <br />52 48% <br />53 52% <br />54 56% <br />55 60% <br /> <br />(4) To an employee retired on account of disability as set <br />forth in Section 25-15, a monthly benefit equal to sixty <br />percent (60%) of the base monthly salary then in effect. <br /> <br /> The payment shall be made monthly during the retiree's <br />life and continued disability; but if the retiree's <br />disability shall cease as set forth in Section 25-24, prior <br />to the death of such retiree, and prior to the time the <br />retiree shall attain the age of fifty-five years, then such <br />payment shall cease upon the termination of such disability. <br /> <br />(5) To an employee retired on account of disability as set <br />forth in Section 25-16, the greater of <br /> <br /> (a) a monthly benefit equal to twenty-five percent <br />[25%) of the base monthly salary then in effect; or~ <br /> <br /> (b) a monthly benefit determined by the ratio of the <br />employee's years of service at the date of disability to the <br />years of service the employee would have had by working to <br />age fifty-five, as applied to the benefit the employee would <br />have had by working to age fifty-five, but using the <br />employee's current base salary; plus, <br /> <br /> (c) a monthly benefit of ten percent (10%) of the <br />monthly base salary then in effect for each child of such <br />employee while such child is unmarried, dependent and under <br />the age of eighteen (18) years; provided the total monthly <br />payment shall not exceed fifty-five percent (55%) of the <br />monthly base salary. <br /> <br /> (d) In the event of death from causes set forth in <br />Section 25-16, the surviving spouse and minor children shall <br />be entitled to benefits equal to seventy-five percent <br />of the benefits herein provided for the surviving spouse and <br />minor children of employees who sustained injuries or death <br />while in the discharge of their duties. <br /> <br />(6) To an employee retired after January 1, 1995, on account <br />of age, length of service and lengthof time in this fund, as <br />set forth in Section 25-14(e)~ a monthly benefit according to <br />the following: <br /> <br />-2- <br /> <br /> <br />
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