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1977 Ordinances
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1977 Ordinances
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7/17/2001 6:41:43 PM
Creation date
6/26/2001 5:21:33 PM
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Ord/Resolutions
Year
1977
Ord/Resolutions - Type
Ordinances
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years of creditable serviCe~ or.' ~ . ~ <br /> <br /> . .. (iV) 'Membership b~gan after :June 30, -~1977, and termination ' <br /> 'oCCUrred after, the o~Pletion Of ~-ten (10) years of creditable'serVice; <br /> <br /> Section 31~49. Service retirement a!~owance.. -. - <br /> <br /> (a) Upon retirement.as provided i~lsubsecti0n (a) o~.isubs~ctiOn <br /> 00) of Section 31~148, ~ ~ember, shall- receive'.a~- annual retiremsnt' <br /> allowance., .payable at leas~ monthty to him.dUring his. lifetir~,- in an <br /> amount equal, to. two p~rcent .. (.2.%) of his average final compensation' <br /> multiplied by the ,number of years of his creditable-~Ce; ~ ' -. <br /> <br /> (b) . .Upon re~re~p~nt 'as provided.in :subsection (6) of'-Sectii0n 31- <br /> 148, a'member_sh~lt' receive an annual.retirement allOWance', payable at <br />. least monhhly to him during his life,e, in .a~ amount computed-as,'. <br /> provided for. in s_~bsec.tion -(a): of this section, 'ekcept 'that if. the 2 .-- <br /> member terminated service as ~n employee prior to. July 1, i975, and has <br /> cc~pleted less than twenty years .of.~reditable service, the allo~nce .as <br /> c~uted shall be reduced to a pereentage, of-itself-in-accordance with <br /> · the. following table: <br /> <br /> Con~leted years of creditable service. Applicable percentage <br /> Ten (101 but less than elev~n :~(11) 50% <br /> Eleven (11) but less than twelve (12) -55%' <br /> Twelve (12)but less than thirteen (13) . 60%o " ' <br /> Thirteen (13) but less 'than. fourteen (14) 65% ~' ' <br /> Fourteen (14) but less than fifteen (15) :'. <br /> Fifteen (i5) but less than sixteen. (16) '' ~ 75% <br /> Sixteen (16) but tess than seventeen (17) - 80% <br /> -Seventeen (17) but less than eighteen (18): :- ~85% <br /> .Eighteen (18)-but less than nineteen (19) ' - 90% <br /> Nineteen (19) but less'.than twenty (20) - ' 95% <br /> <br /> (c) If .after-. telTminafion of service and' prior to retirement as <br />provided in subsection '(c)' of-Section 31~148, subsection (a) of th_is <br /> section is' amended, the raember~s allowance calculation shall be based on <br /> the amended subsection in.effect as of .the. date-of retirement. <br /> <br /> (d) .The foregoi~ pro~isions-.to, the een~r~'notwi~hstan~g,- if a' <br /> member's retirement allowance ~s payable under one of the options tof <br /> Section 31~159,-the amount and duration thereof shall be detezimined in <br /> accordance with the provisions o~f the' applicable option. .-:. . <br /> <br />~ Section -~1-151. - ordi~ary disability re~rement-allowan~; - - _ ~ <br /> <br /> (a)' Upon retiremen~ as provided in Section 31~t50, a merbt~r shall <br /> receive an annual-retirement allowance, payable at least monthly ~o him <br /> during his life%ix~ and continued disability,, in an amount equal to.two <br /> percent (2%) of his hverage, final compensation ~dltiplied by the. number <br /> of years of his "disability credited service", as' hereinafter defined. <br /> <br />13 <br /> <br /> <br />
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