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1979 Ordinances
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1979 Ordinances
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7/17/2001 6:40:56 PM
Creation date
6/26/2001 5:07:29 PM
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Ord/Resolutions
Year
1979
Ord/Resolutions - Type
Ordinances
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Such allowance shall be in ~ddition to any benefits provided <br />for in sub-section (a) above. <br /> <br /> (c) Should a me~ber become eligible for service retirement <br />in accordance with Section 31-62 but continue as an employee, <br />the member may, on a form proscribed by the Board, and in advance <br />of retirement, make an election of a joint and last survivor <br />option as described in sub-section (a) (1) of Section 31-74. The <br />designated fraction of the option shall be any amount greater than <br />one-half (1/2) or fifty percent (50%) and equal to or less %hah <br />one hundred percent (100%). <br /> <br /> If a member having made such a designation shall die in <br />service before retirement from a cause not co~Densable under <br />the Virginia Workmen's Compensation Act there shall be paid a <br />retirement allowance to the widow or widower equal to the designated <br />option percent of the allowance that would have been payable to <br />the member had the member retired under the provisions of Section <br />31-62 on the date of his death with the option so designated; or <br />the amount as accorded in sub-section (b) of this section, which- <br />ever ts greater. Upon retirement of the member, the ~ember~s <br />retirement allowance shall be calculated to include ~he election <br />previously designated, unless such retirement is for disability. <br />The retirement allowance to be continued after the me~ber's death <br />to the widow or widower shall be limited to a maxim~ of one-half <br />(1/2) of the decreased allowance received by %he member during <br />the member's lifetime. <br /> <br /> In making an election of an option as provided under this <br />sub-section, a member may also elect a modification of the joint <br />and last survivor option whereby a provision is ~ade for no decrease <br />in allowance should the member"s spouse die before the retirement <br />of the member, or a return to an undecreased allowance should the <br />member's spouse die before the member died during retirement. Such <br />modification shall be determined by an actuarial report as of the <br />retirement of the member. <br /> <br /> This ordinance shall be effective from the date of its <br />adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, <br />at a meeting held July 10, 1979. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />
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