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All interest and other earnings on money and investments of the retirement system shall be credited to the pension reserve fund. The Board of Trustees shall, at the end of each fiscal year, allow regular interest on the members’ individual balances in the employee savings fund at the beginning of the fiscal year; and on the mean assets credited to the retirement reserve fund. The amounts of interest so credited to the employee savings fund and the retirement reserve fund shall be charged to the pension reserve fund.
(Ord. 1860, passed 8-16-1965)
(a) The right of a person to a pension, to the return of accumulated contributions, the pension itself, any optional benefit, and any other right accrued or accruing to any member, retirant or beneficiary under the provisions of the retirement plan, and any monies belonging to the retirement system shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency law, or any law or any other process of law whatsoever, and shall be unassignable, except that a member may make voluntary assignment of his or her accumulated contributions to the municipal employees credit union as security for a loan or loans; provided, that the City and Hurley Medical Center shall have a right to set off from any member’s accumulated contributions at the time of termination of employment, for any money owed by the member to either Hurley Medical Center or the City, whether from nonpayment of a debt to Hurley Medical Center or the City, for any overpayment in final wages and fringe benefit payoffs made as a result of termination of employment. Provided also, that the City and Hurley Medical Center shall have the right to set off for any claim arising from embezzlement by or fraud of a member.
(b) Any retirant or beneficiary may authorize to have deducted from his or her pension those sums of money necessary to provide his or her membership in any fund or plan acceptable to the Board of Trustees, provided that the authorization to deduct is in writing and that notice of termination of the deduction shall be given to the Board in writing.
(Ord. 1860, passed 8-16-1965; Ord. 2457, passed 10-7-1974; Ord. 2842, passed 7-26-1982)
Should any change in the records result in any member, retirant or beneficiary receiving from the retirement system more or less than he or she would have been entitled to receive had the records been correct, the Board of Trustees shall correct the error and as far as practicable shall adjust the payment in such manner that the actuarial equivalent of the benefit to which the member, retirant or beneficiary was correctly entitled shall be paid; provided, however, that for errors discovered on or after July 1, 2009 a person receiving more than he or she would have been entitled not as a result of non-disclosure, fraud or misrepresentation shall not have the payments occurring more than one year prior to discovery of the error considered in the adjustment. Notwithstanding the foregoing, if the person or the person through whom that person is due benefits: (1) provided incorrect information which caused the error, (2) failed to provide information that was necessary to calculate the payment correctly, (3) caused the providing of incorrect information or failed to provide necessary information, or (4) knew or reasonably should have known that he or she was in receipt of an erroneous payment, all such payments, including payments occurring more than one year prior to the discovery of the error, shall be considered in the adjustment.
(Ord. 1860, passed 8-16-1965; Ord. 3758, passed 7-27-2009)
The Board of Trustees, or its duly authorized representative shall have the power to administer oaths and to subpoena witnesses to appear and testify or to produce books and papers which relate to questions in dispute. Any person who refuses to obey such a subpoena or who refuses to be sworn and testify or who fails to produce books and papers touching upon any material matter, or any witness party or attorney who is guilty of any contempt while in attendance at any hearing held under the retirement plan, may be punished as for contempt in court. For these purposes a court of competent jurisdiction, upon application of the Board of Trustees or its duly authorized representative, shall compel the attendance of witnesses, the production of books and papers and the giving of testimony before the Board of Trustees by attachment for contempt or otherwise in the same manner as the production of evidence may be compelled before the court. No person, having taken an oath or made affirmation in the proceeding, shall swear or affirm, willfully, corruptly or falsely. The District Court is herewith given jurisdiction to try persons for false swearing.
(Ord. 1860, passed 8-16-1965; Ord. 2314, passed 2-24-1969)
(a) All questions arising under the retirement plan shall be determined by the Board of Trustees. In case there shall be any controversy concerning benefits or other rights of a member, retirant or beneficiary, the controversy shall be submitted to the Board of Trustees and the Board of Trustees shall conduct a hearing with relation thereto, at which hearing the City, Recreation and Park Board, Board of Hospital Managers or other division of the City government, and the member, retirant or beneficiary shall be entitled to be heard and at which such proofs and evidence may be presented as the parties shall desire. Parties before the Board of Trustees shall have the right to be represented by an attorney at law.
(b) The findings of fact and factual determination made by the Board of Trustees acting within its powers shall, in the absence of fraud, be conclusive, but the Circuit Court for the County shall have the power to review questions of law involved in any final decision or determination of the Board of Trustees; provided, that application is made by a party within 30 days after the decision or determination by certiorari, mandamus or by any other method permissible under the rules and statutes of the court or the laws of this State, and to make such further orders in respect thereto as justice may require.
(Ord. 1860, passed 8-16-1965)
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