As used in this chapter, unless a different meaning is plainly required by the context:
(a) "Accumulated contributions" means the sum of all amounts deducted from the compensation of a member and credited to his or her individual account in the Annuity Savings Fund, together with regular interest thereon.
(b) "Annuity" means an annual amount payable throughout the life of a person. All annuities shall be paid in equal monthly installments.
(c) "Annuity reserve" means the present value of all payments to be made on account of any annuity, or benefit in lieu of any annuity, computed upon the basis of such mortality and other tables of experience, and regular interest, as the Retirement Board shall from time to time adopt.
(d) "Average final compensation" means the average of the annual compensations for the ranks held by a member during his or her five years of service immediately preceding the effective date of his or her retirement, or during his or her total years of service if he or she has less than five years of credited service. Such annual compensations for such ranks shall be the annual rates as fixed in the City budget for the fiscal year in which such member retired.
(e) "Beneficiary" means any person, except a retirant, who is in receipt of an annuity or other benefit, payable from funds of the retirement system.
(1979 Code Sec. 2.80.020)
(f) "Compensation," for a police officer, means base wage, plus longevity, holiday pay and gun allowance.
"Compensation," for a firefighter, means base wage, plus longevity, holiday pay and payment in lieu of overtime.
"Compensation," for an animal control officer, means base wage, plus longevity and holiday pay.
(Res. 82-169. Passed 2-22-82.)
(g) "Credited service" means the total service credited to a member to the extent provided in this chapter.
(h) "Interim member" means any person who became a member of the retirement system after December 31, 1956, and prior to July 1, 1975.
(i) "Member" means any person who is included in the membership of the retirement system.
(j) "New member" means any person who became a member after June 30, 1975.
(k) "Original member" means any person who became a member prior to January 1, 1957.
(l) "Regular interest" means such rate of interest per year, compounded annually, as the Retirement Board shall from time to time determine.
(m) "Retirant" means any member who retires with an annuity payable from funds of the retirement system.
(n) "Retirement," as it specifically relates to this chapter only covering the Policemen's and Firemen's Retirement System and the qualification for pension benefits, shall mean withdrawal from service with a retirement allowance or pension granted in accordance with this chapter. (Emergency Manager Order No. 11. Ordered 2-2-15.)
(o) "Service" means service rendered by a police officer or firefighter in the employ of the City and paid for by the City.
(1979 Code Sec. 2.80.020)
(p) "Voluntary retirement age" means, for a new member, the attainment of age fifty-five with twenty-five or more years of service or after twenty-eight years of service regardless of age. For an interim member, "voluntary retirement age" means the attainment of age fifty-five or after twenty-eight years of service regardless of age. For an original member, "voluntary retirement age" means the attainment of age fifty with twenty-five years of credited service, or age sixty regardless of the number of years of credited service, or after twenty-eight years of service regardless of age.
(Res. 82-169. Passed 2-22-82.)