(a) Implementation Procedure for Social Security Participation. Should Social Security participation be mandated or made available to Plan Members by Federal legislation amending the Social Security Act or by action taken by the City or by Plan Members as provided by law, the following provisions shall govern the manner in which such participation by Plan Members is to be implemented and the limitations hereinafter set forth shall be controlling unless Federal law is contrary to these provisions, is in conflict therewith and is clearly intended to be preemptive. Should applicable provisions of Federal law in any respect differ from the provisions contained in this section and should they be determined to be preemptive as to any part thereof, then and in that event, those provisions of this section not affected by such Federal law shall remain in full force and effect.
(b) Council Authority to Coordinate Benefits and Contributions. As to the rights and entitlement to benefits of Plan Members participating in such Social Security coverage, the Council shall have the power and authority, subject to the veto of the Mayor, to adopt ordinances modifying the benefits and conditions of entitlement provided in this Tier 5, including adjustments of Plan Member contributions to the Fire and Police Pension Plan – Tier 5 as hereinafter more specifically provided and subject to the limitations stated herein.
(c) Supermajority Vote Required. Ordinances adopted pursuant to this section must be approved by not less than two-thirds of the membership of the Council, subject to the veto of the Mayor and re-adoption by the Council by a vote of not less than three-fourths of the membership of Council. No such ordinance may be finally adopted by the Council until the expiration of at least 30 days after its first presentation to the Council, nor until after a public hearing has been held thereon. Any ordinance adopted pursuant to this section shall go into effect upon publication.
(d) Integration of Social Security and Pension Plan. Any participation in Social Security coverage shall be by integration with the benefits provided by this Tier 5 and shall not be in addition to the benefits provided in the Fire and Police Pension Plan – Tier 5. Integration is to be defined in harmony with the provisions of the Social Security Act and must be in substantial compliance with the rules and regulations governing said Act. Benefits provided by an integrated system must be at least equal to the benefits offered by the Fire and Police Pension Plan – Tier 5 prior to such integration. The level of integration may be periodically adjusted by the Mayor and Council to ensure an adequate level of integration.
(e) Minimum Plan Member Contributions. Plan Members participating in Social Security shall have their contributions to the Fire and Police Pension Plan – Tier 5 reduced but Plan Members must contribute at least 2% of salaries to the integrated Fire and Police Pension Plan – Tier 5.
SECTION HISTORY
Added by Ord. No. 174,367, Eff. 12-19-01.