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1992 Ordinances
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1992 Ordinances
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2/6/2009 3:40:45 PM
Creation date
6/14/2001 4:59:31 PM
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Ord/Resolutions
Year
1992
Ord/Resolutions - Type
Ordinances
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receive a decreased retirement allowance during his <br />lifetime which represents the additional cost for a <br />member's spouse who is younger than five (5) years <br />of the member. The member may also elect to receive <br />a decreased allowance during his lifetime based on <br />the additional cos5 of a seventy-five percent (75%) <br />or one hundred percent (100%) spousal option. If <br />the member's retirement is for disability, the <br />retirement allowance to be continued after the <br />member's death shall be limited to a maximum of <br />one-half of the retirement allowance received by the <br />member during his lifetime. <br /> <br />A member retired prior to July 1, 1992, who at date <br />of retirement elected a spousal option, shall <br />receive an increase in pension equal to the cost of <br />a fifty percent (50%) spousal option calculated on a <br />spousal age difference of no younger than five (5) <br />years of the member. <br /> <br />An unmarried member shall upon marriage, be provided <br />a fifty percent (50%) spousal option, calculated on <br />a spousal age difference of no younger than five (5) <br />years of the member provided that the member submit <br />written notification to the Board within 90 days <br />after the marriage, and provided that evidence <br />satisfactory to the Board of the good health of the <br />retired member is submitted with the <br />notification. <br /> <br /> (d) A retired member who has elected or has been <br />provided a joint and last survivor option, may by written <br />notification to the Board, elect a different spousal <br />recipient if the following occurs: (1) the original spousal <br />recipient has died, or (2) a final decree of divorce of the <br />retired member from the original s~ousal recipient has been <br />entered; (3) evidence satisfactory to the Board of the good <br />health of'the retired member is submitted with the <br />notification; and (4) the notification to the Board of the <br />change in election occurs within ninety (90) days of the <br />occurrence of one (1) or two (2) or within ninety (90) days <br />after remarriage. If the'provisions of this subsection are <br />invoked by a retired member on the basis of the member having <br />been divorced from his former spousal recipient and the <br />marriage had been of a duration of twenty years or more, the <br />provisions of this subsection shall not be applicable until <br />the death or remarriage of the former spouse unless such <br />spouse consents in writing to the revocation. <br /> <br /> If such an election is made as a result of the death or <br />divorce of the spousal recipient, the benefit payable to the <br />retired member may be adjusted retroactively for a period of <br />not more than thirty (30) days from the date the Board first <br />receives notification of the member's election to make such a <br /> <br /> <br />
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