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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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Template:
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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' <br /> 2.62.240 Repayment of Contributions Withdrawn—Reinstated Employment <br /> Any former employee who is reinstated in the police or fire department within two years <br /> after termination of his or her employment shall be required as a condition of the <br /> reemployment to deposit the amount of any withdrawal made under Section 2.62.450, <br /> and shall be credited with his or her years of prior service. If reinstatement occurs after <br /> two years, the former employee shall come in as a new employee without credit for prior <br /> service; and such prior service shall not be considered for any purposes under this <br /> uniformed pension plan. <br /> { <br /> 2.62.300 Contributions <br /> Each employee shall be assessed and required to pay into the police and firefighters' <br /> retirement fund, created pursuant to this chapter, a sum equal to (1) in the case of an <br /> employee for whom an investment account is established under Section 2.62.630.A, five <br /> percent of his or her compensation; or (2) in the case of any other employee, five percent <br /> of the base salary. An employee described in (2) of the preceding sentence who has <br /> contributed for thirty (30) years to this fund shall be excused from any further <br /> contributions to the fund. The city, in making up its payroll for members of the police and <br /> fire departments, shall be authorized and required to deduct from the compensation due <br /> each employee for each payroll period a sum representing five percent of the base salary <br /> or the employee's compensation, as applicable, such deduction to be placed in a special <br /> fund, to be paid to the treasurer of the board of trustees of the police and firefighters' <br /> retirement fund created pursuant to Chapter 2.50. The employee contribution hereunder <br /> shall be, within the meaning of the Internal Revenue Code, Section 414(h)(2), treated as <br /> picked up by the city and therefore treated as employer contributions. Each employee of <br /> the police and fire departments shall execute and deliver to the proper official of the city <br /> an authorization in proper form for the deduction herein described, and no person shall be <br /> employed as a member of the police or fire department unless the employee shall execute <br /> such authorization. Any employee of either of such departments refusing to execute such <br /> authorization shall be ineligible to receive any of the benefits provided by this chapter or ,,,,,ii, <br /> Chapter 2.60 or 2.62. <br /> 2.62.400 Normal Service Retirement <br /> A member of the uniformed fund may retire after attaining the age of fifty (50) years and <br /> after completion of twenty-five (25) years' membership in the uniformed fund. <br /> 1 <br />
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