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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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effective date of the member's retirement or the date of the written notification <br />to the board of the retirement of the member, to elect to have his retirement <br />allowance payable under any one of thepayable options to set him forth under in Section this 'section 26-77. in The lieu <br />of the retirement allo,~mnce otherwise <br />amount of any such optional retirement allowance shall be the actuaris] equivalent <br />of the amount of such retirement allowance othekwrlse payable to him. The member <br />shall make such an election by written request to the board and such an election <br />shall be subject to the approval 6f the board. <br /> (1) Joint and last survivor option. The member may elect to receive a <br /> decreased retirement allowance during his lifetime and have such <br /> retirement allo~uuce, or one half thereof if so designated, continued <br /> after his death ~o another person during the lifetLme of such person. <br /> <br /> (2) Other options. Some other benefit or benefits shall be paid either to <br /> the member or to such person or persons as he shall elect. <br /> ' . f one of the options stated in this.section <br /> f~ ~ ~ation b~ a member o any . . .. _L~_~ ~ud the election oi' a <br /> · -- }~ ~oid if~the member dies prior ~o. re~L~.~J.~ ~this section shall <br /> shall De nu~ ~ . - ....... a~aoh (1) of SuDseCL!On %~/ . ~ _ <br /> er of the ootion sEa~.ea.~ P~ ~ _ ~.~= h~ove the member's retlrem~n5. <br /> mersb .% ~ ~,~ ~eslo~mted perso~ uz= ....... <br /> be null and volu ix u~ ~ ~-- <br /> (¢) A member who has elected the effective date of the member'S retire- <br /> ma~, at any time prior to the later o~y one of the options stated in this section <br /> ment or the date of %~ritten notification ~o the bosrd of retirement of the member, <br /> revoke such an election by %r~itten notification to the board. <br /> Adopted by the Council of the City of Portsmouth, Virginia, at a meeting <br /> held January 28, 1969. <br /> Test e: <br /> <br /> ~k <br />City Cle~ <br /> <br /> <br />
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