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With reference to the retired employees’ group death benefit fund, the following words, terms and phrases shall have the meanings ascribed to them herein, except where the context clearly indicates a different meaning. The masculine pronouns wherever used herein shall include both the male and female persons.
DESIGNATED BENEFICIARIES ELIGIBLE TO RECEIVE THE DEATH BENEFIT HEREUNDER. Includes any individual designated by the member as a designated beneficiary on a board approved beneficiary designated card.
FILING. For purposes of determining the surviving designated beneficiary, the date when the beneficiary designation card is actually received by the retirement office.
RETIRED EMPLOYEES’ GROUP DEATH BENEFIT FUND. The fund from which lump-sum payments are made upon the death of retired members of the fund if said member retired after January 1, 1970.
SURVIVING SPOUSE. The widow or widower legally married to the member at least one year immediately prior to the member’s retirement from the City of Fort Worth and at the time of the member’s death.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)
(a) When a member of the fund dies subsequent to retirement from active employment with the city, the surviving spouse shall be entitled to receive (in addition to benefits provided by the fund a lump-sum payment of $5,000). If the deceased member leaves no surviving spouse and has filed a valid beneficiary designation card with the retirement office naming a surviving designated beneficiary, a lump-sum payment of $5,000 shall be made in full to said surviving designated beneficiary. Upon written request by the surviving spouse or surviving designated beneficiary after the death of the member, the executive director may directly pay the death benefit, or the portion thereof to the funeral home necessary to satisfy the member’s funeral expenses.
(b) (1) If the deceased member leaves no surviving spouse or surviving designated beneficiary, a lump-sum payment of $5,000 shall be made to the estate of the deceased member upon presentation to the executive director of one of the following legal instruments:
a. Letters testamentary;
b Letters of administration;
c. Muniment of title;
d. Affidavit of small estate; or
e. Judgment declaring heirship.
(2) The lump-sum payment herein provided shall be made in lieu of any payments to which the survivor(s) or estate of the deceased member would have been entitled under the city’s group life insurance plan during the member’s period of active employment with the city.
(c) This lump-sum payment of $5,000 shall not be payable to those members:
(1) Who retired before January 1, 1970; or
(2) Whose coverage at the time of death was otherwise extended under the permanent and total disability feature of the city’s group life insurance plan.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)
The executive director of the fund shall be charged with the duty of making the lump-sum payments herein provided for, and such payments shall be made solely from funds appropriated by the city council for such purpose. The executive director shall maintain such records as may be necessary in the administration of the retired employees’ group death benefit fund. The executive director shall maintain a special accounting of the funds heretofore and hereby appropriated, and the executive director shall not make any payments authorized hereunder from funds contributed by the employees or the city under the provisions of the fund or from earnings on such contributions.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)
(a) The board of trustees of the fund shall act on behalf of the city council of the City of Fort Worth as trustees of the retired employees’ group death benefit fund under the same provisions, regulations and procedures for the investment of funds of the employees’ retirement fund of the City of Fort Worth.
(b) All records and earnings on the assets of the retired employees’ group death benefit fund shall be maintained separate and apart from assets and earnings of the fund.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)
(a) Establishment of supplemental retirement ordinance. There is hereby created and established an ordinance designated as the City of Fort Worth supplemental retirement ordinance which shall provide benefits to members of the fund whose benefits are limited by the qualified plan limits under the Internal Revenue Code of 1986, as amended.
(b) Appropriations. The city shall annually appropriate such amounts as may be necessary to provide for the payment of benefits under the supplemental retirement ordinance. Such appropriations shall continue to be made from current revenues, and, in the event such current revenues are insufficient, the city shall compute, ascertain and levy an ad valorem tax sufficient to raise and produce the money required to appropriate and pay any additional sums which may become due during any such year. The city shall levy a sufficient tax from year to year to provide the revenue from which such appropriations may be made.
(c) Purpose. The purpose of this article is to provide members with certain benefits which, because of the qualified plan limits, are not provided to such members under the fund
(d) Governing law. The ordinance shall be construed in accordance with and governed by the laws of the State of Texas.
(e) Amounts provided by the city. Benefits under the ordinance shall constitute general obligations of the city in accordance with the terms of the ordinance. No amounts in respect of such benefits are required to be set aside or held in trust, and no recipient of any benefit hereunder shall have any right to have the benefit paid out of any particular asset of the city, except to the extent the city may establish a grantor (“rabbi”) trust, which trust will not be protected from the city’s creditors. members have the status of general unsecured creditors of the city and this ordinance constitutes promise to make benefit payments as described herein.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)
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