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1969 Ordinances
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1969 Ordinances
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Last modified
7/17/2001 6:45:48 PM
Creation date
6/28/2001 5:03:04 PM
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Ord/Resolutions
Year
1969
Ord/Resolutions - Type
Ordinances
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Section' 26-79. Ordinary disa' b'l'l !ty retirement allowance. <br /> <br /> (a) Upon retirement as provided in Section 26-78, on or after July 1, <br />1968, a member shall receive an annual retirement allowance payable monthly <br />during his lifetime and continued disability, Of an amount equal to two per- <br />ce~tum of his average final compensation, multiplied by the number of years <br />of his creditable service. <br /> <br /> (b) For the purpose of this section the retirement allowance shall be <br />determined on the assumption that the retirement allowauce is payable to the member <br />alone and that no optional retirement allowance is elected. <br /> <br />Section 26-81. Service connected disahitity retirement allowance. <br /> <br /> Upon retirement as provided in Section 26-80,. a member shall receive an <br />annual retirement allowance payable monthly during lifetime and continued dis- <br />ability which shall consist of the larger of two-thirds of his average final <br />compensation or the allowance to which he would be entitled under Section 26-79 <br />if his disability were not compensable under the Virginia Workmen's Co~ensation <br />Act. The compensatmon fznally awarded to su~ch member under the Virgmrma Workmen s <br />Compensation Act shall be deducted from such allowance, and the excess of the <br />allowance, if any~ shall be paid to such member. When the time for which pay- <br />ments of the compensation finally awarded under that Act has elapsed, such member <br />shm_ll thereafter receive the full amount of such allowance payable monthly during <br />his lifetime and continued disability. <br /> <br />Section 26-82. Refund of accumulated contributions. <br /> <br /> (a) Upon retirement or termination of ser~ce of a member after June 30, <br />1967, other than by death, he shall be p~d, on demand, but not later than ninety <br />days thereafter, the amount of bis accmmulated'contributions, if any, in a <br />sum; provided that if the anount of the member's accmmulated contributions is <br />less than ten dollars, no such payment shall be made. Any member as Of J~uly 1, <br />1967, ~tose service terndnated prior to such date, and who has not withdra~nhis <br />accumulated contributions, and who is entitled to future benefits under subsection <br />(c) of Section 26-76, ~ay elect at any time prior to retirement to receive apay- <br />merit of his accu~]lated contributions~ but any such payment shall te~d~te <br />membership and his rights to any further benefits hereunder. <br /> <br /> (b) Should a mamber die at any time before retirement, the amount of his <br />accumulated contributions shall then be payable in a lump s~n in accordance ~th <br />Section 26-87, provided that if the amount of the member's acc~ted contributions <br />is less tha~n ten dollars, no such payment shall be ~ade. <br /> <br />Section~26-86. Ootional benefits. <br /> <br /> (a) Each member who retires from ser~zice ,sm_der any of the orovisions of <br />Section 26-76 shall iaave tb~ right at mny time, not subseouent to %he later of the <br /> <br /> <br />
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