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§ 38.045 MEMBERSHIP.
   The following persons are members of the fund: Any former employee of the City who contributed to the fund and was awarded a retirement annuity by reason of age or disability from the fund.
(1995 Code, § 2.88.060)
§ 38.046 RATE OF RETIREMENT ANNUITY.
   The rate of retirement annuity is 2% of average salary for each year of total service up to and including 20 years and 1% of average salary for each year of total service after 20 years, subject to a maximum of 65% of average salary. Fractional periods of service shall be considered in the calculation of the annuities according to the aforesaid rate.
(1995 Code, § 2.88.110)
§ 38.047 DEATH BENEFITS.
   (A)   (1)   Upon death of a member, due to occupational causes, regardless of length of service, his or her surviving widow or widower shall be entitled immediately upon cessation of salary to an annuity equal to 50% of the member’s average rate of salary, as herein defined. The annuity shall be payable until he or she dies or remarries. In addition, if minor children of the member under age 18 survive the member, the widow or widower shall receive on account of each child 10% of the member’s last rate of salary until each child attains age 18. The combined payments to a widow or widower and minor child shall not exceed 60% of his or her average rate of salary, as herein defined.
      (2)   If a widow or widower does not survive the member, or if he or she remarries, and minor children of the member under age 18 exist, each child is entitled to an annuity equal to 10% of the member’s last rate of salary until each child attains age 18, but the combined payments to the children shall not exceed 50% of the member’s average rate of salary, as herein defined.
      (3)   If neither a widow nor minor children eligible for benefits survive the member, each dependent parent is entitled to an annuity equal to 25% of the member’s last rate of salary, or 50% to both parents.
      (4)   Benefits payable for occupational death shall be reduced by any amount payable to the member’s survivors as a result of worker’s compensation laws.
(1995 Code, § 2.88.120)
   (B)   (1)   Upon death of a member occurring while in service, arising from any cause other than in the performance of duty; provided, the member had at least five years of total service, his or her widow or her widow or widower shall receive an annuity equal to 1.5% of average salary for each year of total service, credited to the member, subject to the following conditions:
         (a)   The widow or widower is at least 40 years of age, otherwise payment shall be deferred until she attains the age, except that if he or she is or becomes totally disabled before age 40, or has a minor child or children by the member in his or her care under age 18 including adopted children; provided, the proceedings for adoption were initiated at least one year prior to death of member, payment of the widow’s or widower’s annuity shall begin immediately together with an additional allowance on account of the child or children.
         (b)   The widow’s or widower’s annuity shall terminate in any event when the widow or widower remarries. The annuity of each child or children shall continue until each child attains age 18.
      (2)   If the widow or widower has minor children by the member under age 18, the annuity to the widow or widower shall be increased 1/2 on account of the first child and 1/4 on account of each additional child, subject to a maximum combined payment to the widow and children of 50% of the final rate of salary.
      (3)   These benefits shall also be payable upon death of the member while on retirement; provided, marriage was in effect for at least one year before retirement.
      (4)   Benefits payable under this section shall be reduced by any amount paid to the member’s survivors for death due to occupational causes, other than from employment with the City, as a result of worker’s compensation laws.
(1995 Code, § 2.88.130)
   (C)   (1)   Upon death of a member, occurring while in active service, if no annuities are payable, the designated beneficiary to the member or his or her estate shall be entitled to a death benefit equal to the total contributions made by the member, without interest, or $300, whichever is greater.
      (2)   Upon death of a retired member, if no annuities shall be due or payable, a death benefit shall be paid to the designated beneficiary or estate of the member, equal to the excess, if any, of the total contributions made by the member to this fund to the date of retirement without interest, over the total annuity payments received by the member. The minimum payment in such case shall be $300. If any annuities are payable after the death of a retired member, the amount of the death benefit, if any, shall be determined upon termination of annuity payments to all survivors of the member, whether the termination occurs by death, remarriage or other cause.
(1995 Code, § 2.88.170)
§ 38.048 TOTAL OR PERMANENT DISABILITY; CAUSES; DETERMINATION.
   (A)   In the event of total and permanent occupational disability, the member shall receive an annuity equal to 60% of his or her rate of salary, based upon an average of the 3 highest salary years. This benefit shall begin at such a time as his or her salary may cease and shall be paid during the entire life-time. Upon his or her death, his or her eligible widow or widower and minor children, if any, shall receive the benefits as provided in § 38.047(B). Benefits payable to the member shall be reduced by any amount paid to the member pursuant to worker’s compensation laws.
(1995 Code, § 2.88.140)
   (B)   (1)   Upon total and permanent disability of a member as the result of any cause other than occupational disability, if a member rendered at least ten years of total service, he or she shall be entitled to a disability retirement annuity. The amount of the annuity shall be equal to 2.5% of average salary for each full year of total service, subject to a minimum payment of 25% of the average salary, and a maximum payment of 65% of average salary. Payment of this annuity shall be made during disability of the member. Upon death of the member, if any eligible widow or minor children survive, the survivors shall be entitled to the regular annuities provided under § 38.047(B). Persons with 20 or more years of service may retire in accordance with § 38.046(D).
      (2)   Benefits payable to the member under this section shall be reduced by an amount payable to the member pursuant to worker’s compensation laws for disability arising out of employment other than with the City.
(1995 Code, § 2.88.150)
§ 38.049 CITY’S CONTRIBUTIONS.
   The City shall make contributions to the fund to assure that all members and all widows, widowers and eligible dependents, as defined herein receive all of the benefits contemplated by this subchapter.
§ 38.050 BOARD OF TRUSTEES; COMPOSITION; OFFICERS; DUTIES.
   (A)   The responsibility for the proper operation of the fund and the direction of its policies shall be vested in the Board of Trustees, consisting of:
      (1)   The Mayor, ex officio, who shall be the President of the Board;
      (2)   The City’s Chief Financial Officer, ex officio, who shall be the Treasurer of the Board; and
      (3)   Five trustees, all of whom shall be members of the Board of Commissioners, ex officio, and the City Manager, ex officio.
(1995 Code, § 2.88.210) (Ord. O-2001-30, passed 10-22-2001)
   (B)   (1)   The officers of the Board shall consist of the President, Vice-President and Secretary. The President shall be the chief executive officer of the Board, shall preside at all meetings and shall appoint all necessary committees. The Vice-President shall serve in the absence of the President.
      (2)   The Board shall designate the Secretary who may or may not be a member of the Board and shall fix his or her compensation. The Secretary shall keep a full account of all proceedings of the Board, shall give notice of all meetings and give effect to all resolutions, orders and directives of the Board. He or she shall be in charge of the detailed affairs of administration of the fund; shall keep the record of proceedings of all meetings; shall keep all books, files, records and accounts of the fund; shall receive all applications for annuities, benefits and refunds; shall prepare periodic reports relative to the financial operations of the fund for the information of the Board; shall compile all statistics pertinent to the operation of the fund; and shall answer all correspondence received by the Board.
      (3)   The Treasurer of the Board and custodian of the fund shall have custody of all cash and securities of the fund, subject to the authority and directives of the Board and shall keep such accounts and records as may be prescribed by the Board.
      (4)   The Law Department of the City shall serve as legal advisors to the Board on all matters pertaining to the fund involving suits or actions at law, and on any questions as to the interpretation of the provisions hereof, or, if the Board so elects, it may retain special counsel.
      (5)   The Board shall establish rules and regulations to implement the provisions of this division which shall not be inconsistent therewith.
      (6)   The Vice-President shall be annually elected by the Board of Trustees.
(1995 Code, § 2.88.230)
   (C)   In addition to other duties arising out of this subchapter, the Board shall:
      (1)   Hold meetings as may be deemed necessary and keep a full record of all its proceedings, which shall be open to inspection by the public;
      (2)   Provide for the installation of a system of accounts and records that will give full effect to the requirements of this subchapter;
      (3)   Obtain such information from the participating members and the City as shall be necessary for the proper operation of the fund;
      (4)   Consider and pass upon all applications for annuities, benefits, refunds and other payments, and authorize the expenditure for such purposes, in accordance with the provisions hereof; (The Board shall have authority to promulgate the rules and regulations, not inconsistent with the provisions of this subchapter, necessary for the proper determination of all claims before it.)
      (5)   Accept any gift, grant or bequest of any money or property of any kind, for the purposes designated by the grantor, if such purposes are specified as providing cash benefits to some or all of the members or annuitants of the fund; and (If no such purposes are designated, the same shall be credited to the account representing income from investments.)
      (6)   Have the accounts of the fund audited as of the end of each fiscal year, by a competent accountant, and submit an annual report to the City as soon as possible following the close of the year, embodying among other things, a balance sheet showing the financial condition of the fund, a statement of income and expenditures for the year and such other financial or statistical data as are necessary for a proper interpretation of the condition of the fund and the results of its operations. The Board shall also cause to be published for distribution among the members a synopsis of the report.
(1995 Code, § 2.88.240)
§ 38.051 INVESTMENT OF FUNDS.
   The Board may invest the moneys accruing to the fund in interest bearing bonds of any county or City of the first, second or third class in the state, or in any securities in which Trustees are permitted to invest trust funds under the laws of the state.
(1995 Code, § 2.88.250)
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