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1991 Ordinances
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1991 Ordinances
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Last modified
2/6/2009 3:41:02 PM
Creation date
6/14/2001 5:14:46 PM
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Ord/Resolutions
Year
1991
Ord/Resolutions - Type
Ordinances
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(b) Upon the retirement, as provided in subsection (a) <br />or subsection (b) of section 20-236, on or after July 1, 1991, <br />of a member before his normal retirement date or before he has <br />completed twenty-five (25) years of creditable service, such <br />member shall receive an annual allowance, payable at least <br />monthly to him during his lifetime, the amoun~ of which shall <br />be determined in the same manner as provided for in subsection <br />(a) preceding except that the resultant allowance, with <br />respect to payments falling due before and after the member's <br />normal retirement date, shall be reduced by one-half of one <br />percent for each month in the period between the member's date <br />of retirement and the first date on which he would have been <br />eligible for a retirement allowance computed as provided for <br />in subsection (a) preceding had he remained an employee until <br />such date. <br /> <br /> (c) Upon retirement as provided in subsection (c) of <br />section 30-236, a member shall receive an annual retirement <br />allowance, payable at least monthly to him during his <br />lifetime, in an amount computed as provided for in subsection <br />(a) of this section, except that if the member terminated <br />service as an employee prior to July 1, 1975, and has <br />completed less than twenty (20) years of creditable service, <br />the allowances as computed shall be reduced to a percentage of <br />itself in accordance with the following table: <br /> <br />Completed Years of <br />Creditable Service <br /> <br />Applicable <br />Percentage <br /> <br />Ten (10) but less than eleven (11) <br />Eleven (11) but less than twelve (12 <br />Twelve (12) but less than thirteen (13) <br />Thirteen (13) but less than fourteen (14) <br />Fourteen (14) but less than fifteen (15) <br />Fifteen (15) but less than sixteen (16) <br />Sixteen (16) but less than seventeen (17) <br />SevenEeen (17) but less than eighteen (18) <br />Eighteen (18) but less than nineteen (19) <br />Nineteen (19) but less than twenty (20) <br /> <br />50 <br />55 <br />60 <br />65 <br />70 <br />75 <br />80 <br />85 <br />90 <br />95 <br /> <br /> (d) If after termination of service and prior to <br />retirement as provided in subsection (c) of section 30-236, <br />subsection (a) of this section is amended, the member's <br />allowance calculation shall be based on the amended <br />subsection in effect as of the date of retirement. <br /> <br /> (e) The foregoing provisions to the contrary <br />notwithstanding, if a member's retirement allowance is payable <br />under one of the options of section 30-247, the amounts and <br />duration thereof shall be determined in accordance with the <br />provisions of the applicable option. <br /> <br /> <br />
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