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AJ~ ORDINA~CE TO ,~MF~k~D SECTIONS 26-77 ~ 26-79 OF THE CODE OF THE <br />CI~I~I O~ PORTSMOUTH, VIRG1Y~A, 1961, P~RTAIN~NG TO R~TIR~,~N~P ~AI~LOW- <br />ANCES OF THE PORTSMOU?H FIRE A!qD POLICE RETL~.~P SYST~. <br /> <br />Be it o~malned by the Cocci! of the City of Portsmouth: <br /> <br />1. That sections 26-77 and. 26-79 of the Code of the Cmty o~ Portsmouth, <br /> Virginia, 1961, be ~mended and reordained ~o read as follows: <br /> <br />Sectiom 26-77. Service Retirement <br /> <br /> (a) ~on service retirement, a member shall receive an smnual <br />retirement all,vance, payable ~onth!y vo [oj_~ for life, of sm amount <br />equal to two percentum of his average fire! compensation, multiplied <br />by the nmmber of yea_~s of his creditable service. <br /> <br /> (b) For the purposes of t~his section, the retirement allowance <br />shall be deter~.,~r~d on the asstm~tion tb~t the retirement al!o)m~ace <br />is payable to the member alone ~ind that no optional retirement allow- <br />ance is elected. <br /> <br />Sectiom 26-79. Ordinary Disability Retirement Allowance. <br /> <br /> (a) Upon retirement as provided in Section 26-78, a member shall <br />receive an annus~ retirement allowance payable monthly dtu~i~ bis life- <br />tZme and conti~med disability, of an a~,ount eeua! to ~o percent~am of <br />his average final compensation, mu!ti~lied by the nt~aber of years of <br />his creditable service. <br /> <br /> (b) For the purposes o~ this section the retirement a!lowmnce sha±l <br />be determined on the assumption t~bat the retirement a!iov~dace is oayable <br />to tb~ member alone snd that no optiom~l r~tirement a!!ov~ce is elected. <br /> <br />2. An. emergency exists mhd tb~s ~oinance should te2<e effect from its <br /> passage. <br /> <br /> Adopted by the Comncil of the City of Port~mouth, Virginia, at a <br />meetir~ held on April 22, 1969. <br /> <br />Teste: <br /> <br />C=~y Clerk <br /> <br /> <br />