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Introduced by Councilmember Schoomer <br />BILL NO. 8379 ORDINANCE NO. 6102 <br /> <br />AN ORDINANCE AMENDING CHAPTER 25 OF THE MUNICIPAL CODE OF <br />THE CITY OF UNIVERSIIY CITY, RELATING TO RETIREMENT AND PENSIONS, <br />BY REPEALING SECTION 25-43 AND ENACTING IN LIEU THEREOF A NEW <br />SECTION TO BE KNOWN AS "SECTION 25-43. NORMAL SERVICE <br />RETIREMENT." <br /> <br /> BE it ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, <br />AS FOLLOWS: <br /> <br /> Section 1. Chapter 25 of the Municipal Code of the City of University City, <br />relating to Retirement and Pensions, is hereby amended by repealing SeMion 25-43 <br />and enacting in lieu thereof a new section to be know as "Section 25-43. Normal <br />Service Retirement;" so that said sectian, as so amended, shall read as follows: <br /> <br />25-43, NORMAL SERVICE RETIREMENT, <br /> <br />(1) The normal Service retirement date of a member shall be the first (1st) <br />day of the month following the earlier at: <br /> <br />(a) The member's sixty-fifth (65th) birthday; or <br /> <br />(b) The date as of which the member has both attained the age of <br />sixty-two (62) years and completed at least thirty (30) years of <br />creditable service. <br /> <br />Such normal service retirement date may be extended by the employee, <br />year to year, until such time as the member reaches the age of seventy (70) <br />years. At such time, the extended normal retirement date shall be the first <br />(1st) day of the month following the member's seventieth (70th) birthday. <br /> <br />(2) Any member may retire as of the normal service retirement date or as <br />of the first (1st) day of any month thereafter, or as of the extended normal <br />service retirement date, upon the member's written application to the <br />board of trustees not less than thirty (30) days nor more than ninety (90) days <br />prior to such date. <br /> <br />(3) Upon retirement on the normal retirement date or an extended <br />service retirement date, a member shall receive a pension beginning on the <br />day after the employee retires from the city service equal to: <br /> <br />(a) Effective January 1, 1995, one and one-tenth percent (1.1%) of <br />the final average compensation multiplied by the total period of <br />creditable service, in years and months. Between June 1, 1994, and <br /> <br /> <br />