Effective upon final passage of this ordinance, all provisions of the System shall apply to management support employees, except to the extent that any provision of this section is different than a provision in any other section of the plan, in which case the provisions of this section shall control with respect to the management support employees.
(A) Participation in this System shall be mandatory for management support employees hired on or after the effective date of this ordinance. Management support employees who are employed in a management support position on the effective date of this ordinance, and are not members of the System as of that date, may choose to become members of the System by making an irrevocable written election to participate in this system within 60 days following final passage of this ordinance. Such election shall be made on a form provided by the Board.
(B) Management support employees shall acquire a 100% vested interest in this System upon the completion of seven years of continuous service as a management support employee.
(C) The average monthly earnings for management support employees shall mean the base compensation for earnings paid for the completed 72 highest semi-monthly pay periods of the management support employee, divided by 36 months.
(D) Management support employees who are employed in a management support position on the effective date of this ordinance and elect to participate in this System in accordance with subsection (A) above may purchase credit for prior continuous service for all or any portion of their employment with the System. The election to purchase prior service must be made on a form to be supplied by the Board within 90 days of the effective date of this ordinance. Management support employees may purchase such credit for continuous service by paying the full actuarial cost thereof, plus interest, as determined by the System actuary. The purchase amount may be paid through a cash payment or a direct trustee-to-trustee transfer or rollover from an eligible plan in accordance with § 34.0262. A management support employee who elects to purchase prior continuous service will have four years from the effective date of this ordinance to complete the purchase. Only that time purchased by the earlier of the date that the employee terminates employment as a management support employee or retires will be counted toward vesting or benefit accrual. All costs associated with and due for prior service credit, including the employer’s portion of any costs shall be paid in full by the management support employee prior to the management support employee entering DROP or retiring from employment for the Board of the System. In addition, management support employees who are employed in the specific position of Executive Director and Deputy Director serving the Police and Firefighters’ Retirement System shall also have 90 days from the effective date of this ordinance to comply with the requirements set forth above.
(E) As used in this section, FULL ACTUARIAL COST means the increase in present value of benefits attributable to the continuous service being purchased by the management support employee. The cost related to this service will be calculated on the basis of the actuarial assumptions adopted by the Board for the actuarial valuation as of October 1, 2021. The cost related to this service for management support employees who are employed in the specific position of Executive Director and Deputy Director serving the Police and Firefighters’ Retirement System will be calculated on the basis of the actuarial assumptions adopted by the Board for the actuarial valuation as of October 1, 2022.
(F) If a management support employee terminates work for the Board for the System and is subsequently reemployed by the Board prior to receipt of retirement benefits, and does not receive a refund of member contributions, the continuous service earned during the earlier period of employment may be combined with the continuous service earned in the subsequent period of employment for the purpose of calculating the retirement benefits due the member; and if the member attained seven or more years of continuous service as a management support employee during the earlier period of employment, such member will be considered to have a 100% vested interest in the plan.
(G) Management support employees employed by the Board for the System, and management support employees employed in the specific position of Executive Director and Deputy Director serving the Police and Firefighters’ Retirement System shall not serve as trustees of the Board or vote as a member of this System.
(Ord. 2022-26, passed 2-8-22; Am. Ord. 2023-41, passed 3-14-23)