(a) A retiree or a beneficiary is entitled to benefits of the retirement fund on the basis of credited service established while a member.
(b) Credited service includes:
(1) the length of credited service performed by the member or inactive member before retirement for which contributions to the fund have not been withdrawn or forfeited;
(2) the length of credited service performed by the member or inactive member prior to withdrawal or forfeiture of contributions to the fund if the credited service has been reinstated under Section 40A-11;
(3) the length of credited service for military active duty under Section 40A-12;
(4) the amount of vacation leave for which the member or inactive member received lump sum payment at termination of employment;
(5) the amount of credited service that is established at the time of a reduction in force in accordance with Section 40A-14; and
(6) the amount of credited service established by a retiree who is re-employed by the city and elects to contribute to the fund in accordance with Section 40A-20.
(c) For purposes of determining eligibility to retire, but not for purposes of computing benefits, a part-time employee shall receive one year of credited service upon completion of 1,000 hours of service in any 12-consecutive-month period beginning on the employee's date of employment or employment anniversary date.
(d) For the purpose of computing benefits, a member is deemed to be on leave of absence during any portion of a work period for which the member does not receive wages from the city, including, but not limited to, any time for which the member does not receive wages as a result of part-time employment or pro rata compensation. A member receiving sick leave or salary continuation payments in an amount coordinated with workers compensation payments is deemed to be receiving wages for that portion of time covered by sick leave and salary continuation payments and to be on leave of absence for that portion of time covered by workers compensation payments.
(e) Benefits may not exceed 100 percent of the average monthly earnings of the member or inactive member.
(f) For a Tier A member or inactive member, benefits are computed at the rate of 2-3/4 percent of the average monthly earnings of the member or inactive member for the total amount of credited service by the member or inactive member. Benefits will be prorated for each partial year of credited service.
(g) For a Tier B member or inactive member, benefits are computed at the rate of 2-1/2 percent of the average monthly earnings of the member or inactive member for the total amount of credited service by the member or inactive member. Benefits will be prorated for each partial year of credited service.
(h) Benefits will be computed under this chapter without regard to gender. (Ord. Nos. 15414; 16886; 18181; 20443; 20960; 21582; 30162)