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(a) (1) Should any person elected to the City Council or elected District Judge of the 68th Judicial District who has eight or more years of credited service or any other member who has 15 or more years of credited service leave City employment prior to his or her voluntarily retirement age, for any reason except his or her death, retirement or discharge for cause, and does not withdraw his or her accumulated contributions from the employees’ savings fund, he or she shall be entitled to a pension as provided in § 35-23 if he or she is a general member, as provided in § 35-24 if he or she is a firefighter member, or as provided in § 35-24.1 if he or she is a police officer member, in either case as the applicable section was in force at the time he or she left City employment. His or her pension shall begin the first day of the calendar month next following the month in which he or she files his or her application for same with the Board of Trustees on or after his or her attainment of his or her voluntary retirement age or at such time as he or she would have qualified for a pension had he or she continued in the employment of the City. Unless otherwise provided in this retirement plan, in no case shall he or she receive credit for the period of his or her absence from City employment.
(2) As of the effective date of this section, and thereafter, should any general member who is an elected official, an elected District Judge of the 68th Judicial District, or an appointee of those officials and has eight or more years of service, or who is an employee not represented by a recognized bargaining unit and not employed by the Board of Hospital Managers, and has ten or more years of credited service leave City employment prior to his or her voluntary retirement age for any reason except death, retirement or discharge for cause, and does not withdraw his or her accumulated contributions from the employees’ savings fund, he or she shall be entitled to a pension as provided in § 35-23 as was in force at the time he or she left City employment. His or her pension shall begin the first day of the calendar month next following the month in which he or she files his or her application for same with the Board of Trustees on or after he or she attains age 55. Provided, however, those who were last hired prior to the effective date of this section and who have eight or more years of credited service, if elected or appointed by those elected, or who have 15 or more years of credited service may elect to begin his or her pension on the first day of the calendar month next following the month in which he or she files his or her application for the same with the Board of Trustees at such time as he or she would have qualified for a pension had he or she continued in the employment of the City. Unless otherwise provided, in no event shall he or she receive credit for the period of his or her absence from City employment.
(b) Until the date his or her pension begins, his or her balance in the employees’ savings fund shall be accumulated at regular interest.
(Ord. 1860, passed 8-16-1965; Ord. 2206, passed 4-13-1970; Ord. 2277, passed 8-9-1971; Ord. 2379, passed 1-29-1973; Ord. 2457, passed 10-7-1974; Ord. 2496, passed 5-19-1975; Ord. 2628, passed 4-10-1978; Ord. 2905, passed 4-9-1984)
(a) Prior to the effective date of his or her retirement, but not thereafter, a member may elect to receive his or her pension as a straight life pension payable throughout his or her life; or he or she may elect to receive the actuarial equivalent of his or her straight life pension in a reduced pension payable throughout his or her life, and nominate a beneficiary, in accordance with the provisions of Option “A,” “B” or “C” set forth below. If a member does not elect an option prior to the effective date of his or her retirement, his or her pension shall be paid him or her as a straight life pension. A straight life pension and Options “B” and “C” shall be subject to subsection (b) of this section.
(1) Option “A.” Pension for ten years certain and life thereafter. Under Option “A,” a retirant will receive a reduced pension payable throughout his or her life with the provision that if he or she dies before he or she has received on 120 monthly pension payments, the payments shall be continued for the remainder of the period of 120 months to such person as the retirant shall have nominated in written designation duly executed and filed with the Board of Trustees. Upon commencement of benefits, the designated beneficiary may nominate a survivor beneficiary by written designation duly executed and filed with the Board of Trustees. If there be no such person surviving the retirant the remaining monthly pension payments shall be paid to the estate of the last to survive of the retirant and the named beneficiary.
(2) Option “B.” Joint and survivor pension. Under Option “B,” a retirant shall receive a reduced pension payable throughout his or her life with the provision that upon his or her death his or her reduced pension shall be continued throughout the life of and paid to the person, having an insurable interest in his or her life, as he or she shall have nominated by written designation duly executed and filed with the Board of Trustees prior to the effective date of his or her retirement.
(3) Option “C.” Modified joint and survivor pension. Under Option “C,” a retirant shall receive a reduced pension payable throughout his or her life with the provision that upon his or her death one-half of his or her reduced pension shall be continued throughout the life of and paid to the person, having an insurable interest in his or her life, as he or she shall have nominated by written designation duly executed and filed with the Board of Trustees prior to the effective date of his or her retirement.
(b) Upon the death of a retirant who is in receipt of a straight life pension, or upon the death of the survivor of a retirant and his or her beneficiary under the election of Option “B” or “C” provided in subsection (a) of this section, and in the event that the death of the retirant, or the death of the survivor of the retirant and his or her beneficiary occurs before there has been paid in pensions an aggregate amount equal to the retirant’s accumulated contributions standing to his or her credit in the employee’s savings fund at the time of his or her retirement, the difference between his or her accumulated contributions and the aggregate amount of pension payments shall be paid to the person or persons as he or she shall have nominated by written designation duly executed and filed with the Board of Trustees. If there be no such designated person surviving the retirant the difference, if any, shall be paid to his or her legal representative. No benefits shall be paid under this subsection on account of the death of a retirant who elected Option “A” provided in subsection (a) of this section.
(c) (1) In the case of persons elected to the City Council, District Judges of the 68th Judicial District, the City Administrator, appointees of the City Council, appointees of the Mayor provided for in Sections 4-202 and 4-203 of the Charter of the City of Flint, general members not represented by recognized bargaining units not employed by Board of Hospital Managers, shall within 60 days of election or appointment or within 60 days of the effective date of this amendment, whichever shall last occur, and not thereafter, elect the option of voluntary withdrawal of his or her own accumulated contributions. Failure to elect this option within the specified time will preclude withdrawal of his or her own accumulated contributions upon retirement. A member who elects this option shall increase his or her personal contribution to the retirement system from 6-1/2% to 10% of the gross compensation paid to him or her by the City, effective with the election of this option for employees thereafter elected or appointed as provided herein. A member who has elected this option may at the time of application for retirement choose to have 25%, 50%, 75% or 100% of his or her accumulated contributions returned in a single payment. The member’s pension shall then be reduced by the actuarial equivalent of the accumulated contributions withdrawn as determined by the City’s actuaries. The accumulated contributions for the member in the employees’ savings fund shall be reduced by the amount of the single payment.
(2) In the event a member elects the above mentioned option in subsection (1), then upon refund of the employee’s accumulated contributions, the employee shall receive regular interest at 1% per annum, compounded annually on his or her accumulated contributions. “Regular interest” shall be defined as set forth in § 35-6 hereof.
(3) Nothing contained in this section shall be construed to prohibit an employee who elects this option from electing other applicable options provided in the retirement plan.
(4) The employee may also elect to cancel his or her decision to apply for an annuity withdrawal option. In such a case, the employee forfeits the right to withdraw his or her own accumulated contributions and shall not be entitled to a refund of any excess contributions made by him or her for such option during the period of his or her entitlement thereto.
(d) (1) General members employed by the Board of Hospital Managers whose retirement date is effective during the period from May 1, 1985 through December 31, 1985, may elect at the time of application for retirement to have 25%, 50%, 75% or 100% of their accumulated contributions returned in a single payment. The member’s pension shall then be reduced by the actuarial equivalent of the accumulated contributions withdrawn as determined by the City’s actuaries. The accumulated contributions for the member in the employees’ savings fund shall be reduced by the amount of the single payment.
(2) In the event a member elects the aforementioned option, then upon refund of the employee’s accumulated contributions the employee shall receive regular interest at 1% per annum, compounded annually on his or her accumulated contributions. “Regular interest” shall be defined as set forth in § 35-6 hereof.
(3) Nothing contained in this section shall be construed to prohibit an employee who elects this option from electing other applicable options provided in the retirement plan.
(Ord. 1860, passed 8-16-1965; Ord. 2904, passed 4-9-1984; Ord. 2959, passed 6-24-1985; Ord. 3766, passed 5-24-2010)
Actuarial equivalence will be determined on the basis of the following interest rates and mortality tables adopted by the Board of Trustees:
(a) Interest: for purposes of actuarial equivalency between the standard form of payment (straight life pension) and the optional forms of payment described in § 35-26, the actuarial equivalency interest rate of 6% per annum as set forth in § 35-6. For purposes of determining the remaining amount of pension payable after a member has withdrawn his accumulated contributions under § 35-26(c), the actuarial equivalency interest rate of 1% per annum as set forth in § 35-26(c)(2).
(b) Mortality: 1971 group annuity mortality table with a 90% unisex blend.
Actuarial assumptions that well be used to determine the amount or level of any option benefit forms will be the actuarial equivalent of the normal retirement benefit. Optional benefits provided under the plan shall be actuarially adjusted in relation to the straight life annuity in accordance with IRC § 415(B)(2), as amended, which is incorporated by reference. The actuarial early retirement reduction and reduction of the dollar limit if the employee has less than ten (10) years of participation under IRC § 415 do not apply to income received as a pension or annuity as a result of an employee’s personal injury, sickness or death and shall be administered in accordance with IRC § 415(B)(2), as amended.
In the event of a change in these actuarial assumptions as applicable to any member, actuarially equivalent benefits for affected members after the date of such change shall be the greater of a. or b. below:
a. The actuarial equivalent of the benefit accrued to the date of change, based upon the member’s final average compensation and credited service (both determined as of the date of change) and the provisions of the retirement ordinance as of the date of change, including the actuarial equivalency factors prior to the date of change; or
b. The actuarial equivalent of a benefit based upon all final average compensation and credited service determined as of the date of calculation after the amendment, and based upon the terms of the retirement ordinance after the amendment applying the new actuarial equivalency factors.
(Ord. 3297, passed 5-22-1995; Ord. 3815, passed 2-16-2012)
(a) Upon the application of a member, or his or her personal representative or department head on behalf of the member, a member who:
(1) Is in City employment;
(2) Has ten or more years of credited service; and
(3 Becomes totally and permanently incapacitated for duty in the employ of the City, by reason of a personal injury or disease, may be retired by the Board of Trustees; provided, that after a medical examination of the member, made by or under the direction of the medical director, the medical director certifies in writing to the Board of Trustees:
a. That the member is mentally or physically totally incapacitated for duty in the employ of the City;
b. That his or her incapacity will probably be permanent; and
c. That the member should be retired;
provided further, that the report of the Medical Director is concurred in by the Board of Trustees. Upon his or her retirement the member shall receive a disability pension provided in § 35-28 if he or she is a general member, or as provided in § 35-29 if he or she is a police officer or firefighter member.
(b) The ten or more years of credited service requirements contained in subsection (a) of this section shall be waived for a member if the Board of Trustees finds:
(1) His or her total and permanent incapacity is the natural and proximate result of a personal injury or disease arising out of and in the course of his or her actual performance of duty in the employ of the City; and
(2) He or she is in receipt of workers’ compensation on account of such total and permanent incapacity.
(Ord. 1860, passed 8-16-1965)
(a) Upon his or her retirement or account of disability, as provided in § 35-27, a general member shall receive a straight life disability pension computed according to § 35-27, a general member shall receive straight life disability pension computed according to § 35-23. Upon termination of his or her workers’ compensation, if any, arising on account of his or her City employment or at his or her attainment of age 60 years, whichever occurs first, he or she shall be given service credit for the period he or she was in receipt of workers’ compensation and at that time his or her straight life disability pension shall be recomputed to include the additional service credit. His or her straight life disability pension shall not be less than 15% of his or her final average compensation and shall be subject to § 35-30.
(b) Upon his or her retirement, a general member shall have the right to elect to receive his or her disability pension under an option provided in § 35-26 in lieu of a straight life disability pension, subject to the condition that if any benefits are paid or payable under § 35-32 on account of his or her death no benefits shall be paid to his or her beneficiary under Option “B” or “C.”
(Ord. 1860, passed 8-16-1965; Ord. 2206, passed 4-13-1970; Ord. 2496, passed 5-19-1975)
(a) Effective January 1, 1970, upon his or her retirement on account of disability, as provided in § 35-27, a police officer member shall receive a straight life disability pension computed according to § 35-24.1, or a firefighter member shall receive a straight life disability pension computed according to § 35-24. Upon termination of a firefighter member’s workers’ compensation period, if any, arising on account of his or her City employment, or his or her attainment of age 55 years, whichever occurs first, he or she shall be given service credit for the period he or she was in receipt of workers’ compensation and at that time his or her straight life disability pension shall be recomputed to include the additional service credit. A police officer or firefighter member’s disability pension shall not be less than 20% of his or her final average compensation and shall be subject to §§ 35-30 and 35-33.
(b) Effective January 1, 1970, in the event a police officer member retires on account of disability, as provided in § 35-27, and the Board finds:
(1) His or her total and permanent disability is the natural and proximate result of a personal injury or disease arising out of and in the course of his or her actual performance of duty in the employ of the City; and
(2) He or she is in receipt of workers’ compensation on account of such total and permanent disability, he or she shall receive a straight life pension equal to 50% of his or her final average compensation in lieu of the pension provided in subsection (a) of this section. His or her disability pension shall be subject to §§ 35-30 and 35-33.
(c) Effective January 1, 1970, prior to the date of his or her retirement a police officer or firefighter member may elect to receive his or her disability pension, provided in subsection (a) or (b) of this section, under an option provided in § 35-26 in lieu of a straight life pension; provided, that if any benefits are paid or payable under §§ 35-31 and 35-31.1 on account of his or her death no benefits shall be paid to his or her beneficiary under Option “B” or “C” provided in § 35-26.
(Ord. 1860, passed 8-16-1965; Ord. 2206, passed 4-13-1970; Ord. 2496, passed 5-19-1975)
(a) At least once each year during the first five years following the retirement of a member with a disability pension, and at least once in every three- year period thereafter, the Board of Trustees may, or upon the retirant’s application the Board of Trustees shall require the retirant, if he or she has not attained his or her voluntary retirement age, to undergo a medical examination to be made under the direction of the Medical Director. If the retirant refuses to submit to such medical examination in any such period, his or her disability pension may be suspended by the Board of Trustees until his or her withdrawal of the refusal. Should the refusal continue for one year all his or her rights in and to a disability pension may be revoked by the Board of Trustees. If, upon such medical examination of a retirant, the medical director reports to the Board of Trustees that the retirant is physically able and capable of resuming employment with the City, and his or her report is concurred in by the Board of Trustees, the retirant shall be returned to the employ of the City and his or her disability pension shall be discontinued. In returning the retirant to the City employment, reasonable latitude shall be allowed the City in placing him or her in a position commensurate to this type of work and rate of compensation at the time of his or her retirement.
(b) A disability retirant who has been or shall be restored to City employment as provided in subsection (a) of this section, shall again become a member of the retirement system and he or she shall contribute to the system at the rate applicable to this membership classification. His or her credited service at the time of his or her retirement shall be restored to full force and effect. He or she shall be given service credit for the period he or she is receiving a disability pension provided in the retirement plan if, within that period, he or she was in receipt of workers’ compensation on account of his or her total and permanent disability arising out of and in the course of his or her employment; otherwise he or she shall not be given service credit for the period he or she was in receipt of a disability pension.
(Ord. 1860, passed 8-16-1965)
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