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6966
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Last modified
8/22/2014 3:12:00 PM
Creation date
11/5/2014 12:27:05 PM
Metadata
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City Ordinances
Passed
8/11/2014
Ordinance Number
6966
Bill Number
9236
Introdate
7/14/2014
Description
Police & Fire retirement system amendment
Introduced By
Mr. Sharpe
Year
2014
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amounts of his or her contributions to the fund, plus interest thereon at the <br /> rate of two percent per annum to the date of leaving the service. <br /> B. A former employee who is eligible for deferred retirement benefits may <br /> elect at any time prior to payment of any benefits to receive a refund as <br /> above, with interest to date of refund and in lieu of all other benefits. <br /> C. This section shall not apply with respect to employees who are in service <br /> on or after September 1, 2000 and have an investment account established <br /> under Section 2.62.630.A. F <br /> 2.62.460 Applicability to Persons Previously Retired, Leaving the Service or <br /> Disabled <br /> Notwithstanding the provisions of this chapter, all members of the police and fire <br /> departments heretofore retired (before October 29, 1956) shall continue to be paid the <br /> same benefits as awarded at the time of retirement. Further, all employees leaving the <br /> service before September 1, 2000 shall continue to be entitled to the same benefits as <br /> determined under the provisions of this chapter in effect before September 1, 2000. <br /> Further, all employees who become permanently and totally disabled before May 1, 2001 <br /> due to service-connected injuries, nonservice-connected injuries or illness, and the <br /> surviving spouses and children of such employees who die due to such causes, shall { <br /> continue to be entitled to the same benefits, subject to the same terms, conditions, <br /> requirements, limitations, rules and procedures, as determined under the provisions of <br /> this chapter in effect before May 1, 2001. <br /> tt <br /> 2.62.470 Vesting of Benefits <br /> A. Any employee having ten years or more of service in either the fire <br /> department or the police department, or a combination of service in both <br /> departments, who subsequently leaves the service, shall be eligible for the <br /> deferred retirement benefits as provided in this chapter. <br /> t <br /> B. An employee's investment account shall be one hundred percent (100%) <br /> vested and nonforfeitable at all times. <br /> 2.62.480 Section 415 Limitations <br /> i <br /> A. This Section applies regardless of whether any member is or has ever been <br /> a member in another qualified plan maintained by the employer. If any <br /> member is or has ever been a member in another qualified plan maintained <br /> by the employer, or a welfare benefit fund maintained by the employer (as <br /> defined in Code §419(e)) under which amounts attributable to post- <br /> retirement medical benefits are allocated to separate accounts of key t <br /> ' <br /> employees (as defined in Code §419(A)(d)(3)), or in an individual medical t <br /> account as defined in Code §415(1)(2) maintained by the employer, or in a a� <br />
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