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6082
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Last modified
12/6/2004 2:47:50 PM
Creation date
11/5/2014 12:21:20 PM
Metadata
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Template:
City Ordinances
Passed
11/4/1996
Ordinance Number
6082
Bill Number
8300
Introdate
10/21/1996
Description
Amdg. Sec. 25-21 to increase retirement benefits by $25 per month effective January 1, 1997
Introduced By
Schoomer
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o <br /> <br />Age in Years <br /> <br />Percentage of <br />Base Monthly <br /> <br />Salary <br /> <br />50 <br />51 <br />52 <br />53 <br />54 <br />55 <br /> <br />40% <br />44% <br />48% <br />52% <br />560/0 <br />60% <br /> <br />To ¢n employee retired on account of disability as <br />25-15, a monthly benefit equal to sixty percent <br />monthly salary then in effect. <br /> <br />set forth in section <br />(60%) of the base <br /> <br />The payment shall be made monthly during the retiree's life and <br />continued disability; but if the retiree's disability shall cease as set forth <br />in section 25-24, prior to the death of such retiree, and prior to the <br />time the retiree shall attain the age of fifty-five (55) years, then such <br />payment shall cease upon the termination of such disability. <br /> <br />To an employee retired on account of disability as set forth in section <br />25-16, the greater of <br /> <br />(a) <br /> <br />A monthly benefit equal to twenty-five percent (25%) of the <br />base monthly salary then in effect; or, <br /> <br />(b) <br /> <br />A monthly benefit determined by the ratio of the employee's <br />years of service at the date of disability to the years of service <br />the employee would have had by working to age fifty-five (55), <br />as applied to the benefit the employee would have had by <br />working to age fifty-five (55), but using the employee's current <br />base salary; plus, <br /> <br />(c) <br /> <br />A monthly benefit of ten percent (10%) of the monthly base <br />salary then in effect for each child of such employee while such <br />child is unmarried, dependent and under the age of eighteen <br />(18) years; provided the total monthly payment shall not <br />exceed fifty-five percent (55%) of the monthly base salary. <br /> <br />(d) <br /> <br />In the event of death from causes set forth in section 25~ 16, the <br />surviving spouse and minor children shall be entitled to benefits <br />equal to seventy-five percent (75%) of the benefits herein <br />provided for the surviving spouse and minor children of <br /> <br /> <br />
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