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1975 Ordinances
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1975 Ordinances
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7/17/2001 6:42:32 PM
Creation date
6/26/2001 5:36:54 PM
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Ord/Resolutions
Year
1975
Ord/Resolutions - Type
Ordinances
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allowance, payable monthly to him during his lifetime, in an <br />amount computed as provided for in subsection (a) of this section, <br />except that if the member terminated service as an ~ployee <br />prior to July 1, 1975, and has completed less than twenty (20) <br />years of creditable service, the allowance as computed shall be <br />reduced to a percentage of itself in accordance with the follow- <br />ing table: <br /> <br />Complete Years of <br />Credited Service <br /> <br />Applicable <br />Percentage <br /> <br />Ten (10) but less than eleven (11) 50% <br />Eleven (11) but less than twelve (12) 55% <br />Twelve (12) but less than thirteen (13) 60% <br />Thirteen (13) but less than fourteen (14) 65% <br />Fourteen (14) but less than fifteen (15) 70% <br />Fifteen (15) but less than sixteen (16) 75% <br />Sixteen (16) but less 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 /> 12. That Section 31-151 (b), Code of the City of <br />Portsmouth, Virginia, 1973, b~ amended and reordained to read <br />as follows: <br />(b) For the purposes of this section, the term "dis- <br />ability-credited service,~ for any member shall be taken to mean: <br /> <br /> (i) For those members employed prior to July it 1975, <br />the smaller of: (a) twicethe members actual period of creditable <br />service; or, the members actual period of creditable service plus <br />ten (!O) years, whichever is larger; or <br /> <br /> (b) The number of years of creditable s~rvice the <br />member would have completed at his normal retirement age if <br />he had remained in service as an ~mployee until then. <br /> <br /> (2) For those members employed subsequent to July 1, <br />1975r the smaller of: (a) twice the members actual period of <br />creditable service; or (b) the number of years of creditab!s <br />service the member would have completed at his normal retirement <br />age if he had remained in service as an employee until t~eno <br /> <br /> 13. That Section 31-129 Code of the City of Portsmouth, <br />Virginia, 1973, be ~mended and reordained ko read as follows: <br /> <br /> With respect to any member who was a m~mber of the <br />Virginia Supp!~ental Retirement System i~mediate!y prior to his <br /> <br />-8- <br /> <br /> <br />
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