(A) Benefit group general. The amount of level straight life pension shall be equal to the retiring person's benefit group general credited service multiplied by:
(1) For retiring persons other than persons who are employees of the City Police Department or members of the International Union of Operating Engineers bargaining unit, 2.0% of the retiring person's final average compensation; and
(2) For retiring persons who are employees of the City Police Department or members of the International Union of Operating Engineers bargaining unit:
(a) For any such person who retires before December 11, 2002, 2.0% of the retiring person's final average compensation; and
(b) For any such person who retires on or after December 11, 2002, 2.25% of the retiring person's final average compensation.
(B) If the retiring person has less than 25 years credited service, the pension shall be reduced by one-half percent (.005) for each month or fraction thereof, by which the date of benefit commencement precedes the person's attainment of age 60.
(Ord. passed 11-20-1980; Am. Ord. 85-4, passed 7-18-1985; Am. Ord. 90-8, passed 7-5-1990; Am. Ord. 03-01, passed 2-6-2003; Am. Ord. 09-01, passed 2-5-2009)