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6205
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Last modified
12/6/2004 2:47:46 PM
Creation date
11/5/2014 12:22:14 PM
Metadata
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Template:
City Ordinances
Passed
6/21/1999
Ordinance Number
6205
Bill Number
8425
Introdate
6/7/1999
Description
Amdg Chap 2.62 establishing that police and fire employees can retire with benefits at age 50 if they have at least 20 years of service and to change the benefits payable upon death.
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monthly base salary, and in which event the thirty-five (35) percent maximum <br />benefit for the eligible children shall be prorated between them; provided, further, <br />that if there is no surviving spouse entitled to benefits in any month, the surviving <br />spouse's benefit will be divided equally among the then eligible children, but no <br />child shall be entitled to more than fifty (50) percent of the surviving spouse's <br />benefit; <br /> <br />There shall be paid upon the death of any employee retired under Section 2.62.100 or upon <br />nonservice-connected death prior to retirement under Section 2.62.100, benefits which are <br />seventy-five (75) percent of the benefits provided by subsection F of this section except that <br />the combined children's benefit shall not exceed thirty-one and one-fourth (31.25) percent <br />of the monthly base salary; provided, however, that upon the death of any employee who <br />is eligible for retirement but who has not yet retired, the benefits shall be the same as are <br />provided in subsection F of this section and the percentage limitations herein set forth shall <br />not apply; <br /> <br />To a former employee who is eligible for deferred retirement benefits as set forth in Section <br />2.62.080(B) and has reached the age of fifty-five (55) years, a monthly retirement benefit <br />equal to the following percentage of the base monthly salary in effect at the date the <br />employee ceased to be an employee: <br /> <br />Years of Service Percentage of Base Monthly Salarv <br />10 30 <br />11 33 <br />12 36 <br />13 39 <br />14 42 <br />15 45 <br />16 48 <br />17 51 <br />18 54 <br />19 57 <br />20 60 <br />21 61 <br />22 62 <br /> 23 63 ~ <br /> 24 64 <br /> 25 65 <br /> 26 66 <br /> 27 67 <br /> 28 68 <br /> 29 69 <br /> 30 or more 70 <br /> <br />Upon the death of a former employee who is eligible for benefits under Section 2.62.080(B) <br />the excess, if any, of the employee's accumulated contributions over the aggregate of any <br />benefits the employee has received, will be payable to the employee's designated <br /> <br />-5- <br /> <br /> <br />
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