§ 22-303. Optional Early Retirement Benefits.

   (1)   Eligibility. 77 The following members are eligible for optional early retirement benefits:

      (a)   Any member of Plan J, Plan L, Plan Y, or Plan 16, and any member of Plan '10 who is a municipal employee or an elected official, who is age fifty-two (52) or older and had become a vested member as defined in subsection 22-105(47). 78

      (b)   Any member of Plan B or Plan D who is age forty (40) or older and had become a vested member as defined in subsection 22-105(47).

      (c)   Any member of Plan A or Plan X who is age forty (40) or older and had become a vested member as defined in subsection 22-105(47).

      (d)   Any member of either Plan A or Plan B who has twenty-five (25) or more years of credited service, regardless of age.

      (e)   Any member of Plan Y or Plan 16, and any member of Plan '10 who is a municipal employee, who has thirty-three (33) or more years of credited service, regardless of age. 79

      (f)   Any member who has irrevocably elected to participate in the 2021 Aviation Division Early Retirement Window Program as provided in Section 22-313. 80

   (2)   Effective date. Optional early retirement benefits may go into effect any time between the end of active City service and the month in which the member reaches minimum retirement age.

   (3)   Calculation of amount of benefits. The yearly amount of optional early retirement benefits is the amount of the regular yearly service retirement benefit (calculated in accordance with Section 22-301) reduced by one-half of one percent (0.5%) of the service retirement benefit for each month the member is younger than the minimum retirement age. This reduction does not apply to members who retire under the provisions of subsections 22-303(1)(d), (1)(e), and (1)(f).  81

 

Notes

77	Amended, Bill No. 000342 (approved January 23, 2001). Section 2 of Bill No. 000342 reads as follows: "Effective Date. This Ordinance shall be effective retroactively to January 13, 1999, except for amendments to Code Section 22-310, which shall be effective retroactively to June 28, 1999, and except that, as to members of Plan L, any part of this Ordinance that represents an increase or diminishment in the benefit rights of such members shall not apply to an elected official during any term of office to which such official was elected prior to the effective date of this Ordinance, but shall only apply to an elected official during a term of office to which such official was elected after the effective date of this Ordinance."
78	Amended, Bill No. 161013 (approved December 9, 2016).
79	Amended, Bill No. 161013 (approved December 9, 2016).
80	Added, Bill No. 210137 (approved April 14, 2021). Section 2 of Bill No. 210137 provides: "Effective Date. This Ordinance shall be effective immediately with respect to employees not subject to the terms of a collective bargaining agreement. With respect to represented employees subject to a collective bargaining agreement, this Ordinance shall be effective on the date the Director of Finance certifies to the Clerk of Council that the employee's union has agreed to the terms of this Ordinance."
81	Amended, Bill No. 210137 (approved April 14, 2021). See note 80 for effective date provisions.