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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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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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(10%) of the monthly base salary as previously described for <br />such child or children until such child or children attain the age <br />of eighteen (18) years or marry; provided, the combined <br />monthly payments to such surviving spouse and children shall in <br />no case exceed sixty percent (60%) of the monthly base salary, <br />and in which event the thirty-five percent (35%) maximum <br />benefit for the eligible children shall be prorated between <br />them; provided, further, that if there is no surviving spouse <br />entitled to benefits in any month, the surviving spouse's benefit <br />will be divided equally among the then eligible children, but no <br />child shall be entitled to more than fit-h/percent (50%) of the <br />surviving spouse's benefit. <br /> <br />There shall be paid upon the death of any employee retired under <br />section 25-16 or upon non-service connected death prior to <br />retirement under section 25-16, benefits which are sevenh/-five <br />percent (75°/°) of the benefits provided by section 25-21 (8) except that <br />the combined children's benefit shall not exceed thirty-one and one- <br />fourth percent (31 1/4%) of the monthly base salary; provided, <br />however, that upon the death of any employee who is eligible for <br />retirement but who has not yet retired, the benefits shall be the same <br />as are provided in section 25-21 (8) and the percentage limitations <br />herein set forth shall not apply. <br /> <br />10. <br /> <br />There shall be paid upon the death of any employee retired under <br />section 25-14(b) or section 25-14(c), a monthly benefit which bears the <br />same ratio to the benefits provided in section 25-21(8) as the monthly <br />benefit received by the employee bears to one-half of the base <br />monthly salary in effect at date of retirement. <br /> <br />11, <br /> <br />To a former employee who is eligible for deferred retirement benefits <br />as set forth in section 25-14(d) and has reached the age of fifty-five <br />(55) years, a monthly retirement benefit determined by the ratio of the <br />eml:~loyee's completed years of service at the date of the employee's <br />ceasing to be an employee, to the number of completed years of <br />service the employee would have had at age fifty-five (55) applied <br />to the benefit the employee would have had at age fifty-five (55) <br />applied to the benefit the employee would have received had the <br />employee been age fifty-five (55) at the date the employee ceased <br />to be an employee. <br /> <br />12. <br /> <br />Upon the death of a former employee who is eligible for benefits <br />under section 25-14(d) the excess, if any, of the employee's <br />accumulated contributions over the aggregate of any benefits the <br /> <br /> <br />
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