Notwithstanding anything to the contrary in this Code, the annual benefit otherwise payable to a participant in the Police Pension Fund at any time will not exceed the maximum permissible amount. The maximum permissible amount is one hundred sixty thousand dollars ($160,000.00), adjusted under Section 415(d) of the Internal Revenue Code of 1986, as amended, in such manner as the U.S. Secretary of the Treasury shall prescribe.
(Ord. 2004-19. Passed 4-12-04.)