(A) The city employee retirement system is continued for the purpose of providing for the retirement of officers and employees of the city due to superannuation or total and permanent disability, providing pensions supplemental to Federal Social Security benefits, providing for contributions to the retirement system by members and the city, and providing for the administration of the retirement system. The retirement system is intended to qualify as a pension plan and trust meeting the requirements of §§ 401(a) and 501(a) of the Internal Revenue Code, as now in effect or hereafter amended, and shall be administered so as to fulfill this intent. Notwithstanding any provision of this chapter to the contrary, benefits and contributions shall be limited in accordance with § 415 of the Internal Revenue Code, which is hereby incorporated by reference. ('83 Code, § 36.02)
(B) The effective date of the retirement system shall be April 1, 1955.
(‘83 Code, § 36.03) (Am. Ord. 2002-07, passed 5-13-02)