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A. The accrued pension of a member at any determination date shall be equal to 2% of the member's average monthly compensation multiplied by the number of years of service completed by the member at such date, up to a maximum of 25 years of service. In addition, the accrued pension shall also include an incremental pension of 1.25% of average monthly compensation, multiplied by the number of years of service completed by the member at such date in excess of 25 years of service.
B. USERRA and HEART requirements. Effective December 12, 1994, any member who is absent on account of qualified military service and returns to City service within the period of time during which his reemployment rights are protected by federal law shall receive service credit, contributions, benefits and other rights provided under this subsection in lieu of the service credit, contributions, benefits or other rights to which the member would otherwise be entitled under this section, except to the extent the member would be entitled to more advantageous service credit, contributions, or benefits or more valuable rights under other provisions of this section. A member described in this subsection shall be credited with years of service for the full period of qualified military service, provided such member pays into the fund an amount equal to the contributions such member would have been required to make but for his absence on account of qualified military service, within the five-year period of time beginning on his reemployment date (or the lesser period of time beginning on such reemployment date that is three times the length of his qualified military service), and the City shall make all contributions that would have been due on account of such member contributions, and the member shall be entitled to all other rights and benefits accruing on account of such contributions and service. For purposes of this subsection, a member shall be treated as having received compensation during his qualified military service based on the rate of compensation the member would have received but for his qualified military service compensation, or if such amount is not reasonably certain, his average compensation during the twelve-month period immediately preceding his qualified military service (or, if shorter, the period of time immediately preceding his qualified military service). This subsection shall be applied in a manner consistent with Section 414(u) of the Code.
(1) Effective January 1, 2007, in the case of a member who dies while performing qualified military service, the member's surviving beneficiary shall be entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided herein as though the member had resumed employment with the City on the day before death and then terminated employment on account of death in accordance with Section 401(a)(37) of the Code.
(2) Effective with respect to years beginning after December 31, 2008, for purposes of applying the limits on annual benefits and contributions and for purposes of applying other applicable provisions of the Code, but not for purposes of determining benefits and contributions, "compensation" shall also include differential wage payments, as defined in Section 3401(h) of the Code, paid by the City to an employee on account of qualified military service.