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6345
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Last modified
12/6/2004 2:49:17 PM
Creation date
11/5/2014 12:23:06 PM
Metadata
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Template:
City Ordinances
Passed
12/17/2001
Ordinance Number
6345
Bill Number
8571
Introdate
12/3/2001
Description
Amdg Chap 2.62.150 Retirement Benefits generally - schedule, so as to increase the monthly benefit to certain retirees who retired prior to July 1, 2000, by $25 effective January 1, 2002
Introduced By
Wagner
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Eo <br /> <br />be entitled to more than fifty (50) percent of the surviving spouse's benefit; <br /> <br />There shall be paid upon the death of any employee eligible for retirement under Section <br />2.62.080(A) or (C) but who has not yet retired, the following: <br /> <br />To the employee's surviving spouse, provided such employee shall have been <br />married to such surviving spouse for three years or more prior to the employee's <br />death, a monthly benefit of fifi.~ (50) percent of the monthly benefit the employee <br />would have received if retired until the death or remarriage of such surviving spouse; <br /> <br />To the lawful guardian of such employee's surviving minor unmarried child or <br />children under the age of eighteen (18) years, provided such child or children shall <br />have been bom within ten months after the employee's retirement or the employee's <br />death in service, a monthly benefit of ten percent of the monthly base salary as <br />previously described for such c]~ild or children until such child or children attain the <br />age of eighteen (18) years or marry; provided, the combined monthly payments to <br />such surviving spouse and children shall in no case exceed sixty (60) percent of the <br />monthly base salary, and in which event the thirty-five (35) percent maximum benefit <br />for the eligible children shall be prorated between them; provided, further, that if <br />there is no surviving spouse entitled to benefits in any month, the surviving spouse's <br />benefit will be divided equally among the then eligible children, but no child shall <br />be entitled to more than fifty (50) percent of the surviving spouse's benefit; <br /> <br />To a former employee who is eligible fi>r deferred retirement benefits as set forth in Section <br />2.62.080(B) and has reached the age ~,f 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 <br /> <br /> Percentage of <br />Base Monthly Salary <br /> <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 /> <br />-3- <br /> <br /> <br />
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