(1) If an individual is a member of any plan within the Retirement System and elects to participate in the DC Plan pursuant to Section 22-1403, such member shall no longer accrue any additional benefits under the original plan and shall automatically become a member of Plan '10. In such case, any credited service rendered by the member, or compensation paid to the member, after the member becomes a member of Plan '10 shall apply solely to the calculation of the member's benefit under Plan '10 and the DC Plan and shall not be considered for purposes of determining the accrued benefit under the member's prior plan. Credited service accrued by the member under the original plan shall not be considered for purposes of calculating the member's Service Retirement Benefit under Plan '10. The above notwithstanding, for purposes of determining the member's eligibility for Service Retirement Benefits under subsection 22-301(1), all credited service with the City shall be considered. Prior to enrollment in the DC Plan and Plan '10, the Board shall provide to the member an estimated calculation of the member's projected total pension and retirement benefits determined as of the member's minimum retirement age. Enrollment in Plan '10 is irrevocable.
(2) Certain members of Plan '10 may elect to participate in Plan 16 as provided in subsections (2)(a) and (2)(b) and (2)(c) below. A member who makes such an election shall automatically become a member of Plan 16 upon payment to the Retirement System of the difference between the contributions made before the election and the amount that would have been contributed if membership had been established in Plan 16 during previous credited service, in accordance with the provisions of subsection 22-803(1) (Purchase of Prior City Service, Cost of Purchase), except that the interest provided for in subsection 22-803(1) shall not be charged on the purchase. In such case, all of the member's credited service, including service credited before the election, shall be transferred to Plan 16. For purposes of a member's defined benefit, the member shall be treated as though membership had existed in Plan 16 for the member's entire credited service and the member's retirement rights and defined benefit shall be determined solely by Plan 16. A member's participation and benefits in the DC Plan shall be determined by the applicable provisions of Chapter 22-1400. 63
(a) Members of Plan '10 represented by AFSCME District Council 33: On or before March 9, 2017.
(b) Members of Plan '10 represented by Lodge 5 of the F.O.P. who are employees of the Sheriff's Office or the Register of Wills: Within ninety (90) calendar days of the effective date of the ordinance adding this subsection (2)(b).
(c) Municipal employees not represented by a union and employees represented by AFSCME District Council 47: From January 1, 2019, through March 31, 2019.
Notes
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