(1) Newly hired and elected employees, and certain electing employees. All members of Plan '10 and Plan 16 shall be Members in the DC Plan; provided that any Plan 16 member whose annual salary is equal to or less than the Stacked Hybrid Cap shall not be permitted to make any Member Contribution. 198
(2) Electing members of the Retirement System. If (a) a police or fire employee or (b) an employee represented by Lodge 5 of the F.O.P. who is an employee of the Sheriff's Office or the Register of Wills or (c) an employee represented by AFSCME, District Council 47, or AFSCME, District Council 33, or (d) a municipal employee not represented by a union or an elected official, is a member of any other plan within the Retirement System, such member may elect to participate in the DC Plan. In such case, any credited service rendered by the member, or compensation paid to the member, after the member is enrolled in the DC Plan shall apply solely to the calculation of the member's benefit under the DC Plan and Plan '10 and shall not be considered for purposes of determining the accrued benefit under the member's original plan. Credited service accrued by the member under the original plan shall not be considered for purposes of calculating the member's benefit under DC Plan and Plan '10. The above notwithstanding, in determining the member's credited service for vesting purposes under Section 22-1406, all credited service with the City shall be considered. An election to become a member of the DC Plan must be made within ninety (90) calendar days of the effective date of this Chapter or, with respect to fire employees, within ninety (90) calendar days of the effective date of the ordinance adding fire employees to this subsection or, with respect to municipal employees either represented by Lodge 5 of the F.O.P. who are employees of the Sheriff's Office or of the Register of Wills or represented by AFSCME, District Council 47, or AFSCME, District Council 33, and municipal employees not represented by a union, and with respect to elected officials, within ninety (90) calendar days of the effective date of the ordinance adding such employees to this subsection. Prior to enrollment in the DC Plan, 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 the DC Plan is irrevocable. 199
Notes
| 198 | Amended, Bill No. 161013 (approved December 9, 2016). |
| 199 | Amended, Bill No. 100780 (approved February 8, 2011). See note 4 for effective date provisions. Amended, Bill No. 110836-A (approved December 21, 2011); amended, Bill No. 140205 (approved May 14, 2014). See note 37 for effective date provisions. Amended, Bill No. 140741 (approved November 14, 2014). See note 23 for effective date provisions. Amended, Bill No. 140743 (approved November 14, 2014). See note 28 for effective date provisions. Amended, Bill No. 150720 (approved December 1, 2015). |
Next Doc