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(a) A member who continues in city service as a firefighter on or after the date the member acquires ten years of credited service and dies while in the service of the city, and leaves a spouse, the spouse shall receive a pension computed in the same manner in all respects as if the member had retired effective the day preceding the date of the death, notwithstanding that the member may not have attained the voluntary retirement age, elected option 2 provided for in § 39.317 and nominated the spouse as beneficiary. The spouse’s pensions shall be subject to § 39.321, and shall terminate upon death. No pension shall be paid under this section on account of the death of a member if any benefits are paid under § 39.322 on account of the member’s death. Any benefits paid under this section shall comply with the distribution rules in § 39.322(b)(7).
(b) In addition to the pension benefit, if any, payable to the deceased member’s spouse, their eligible child or children or eligible handicapped child shall each receive a pension of $200 per month, and shall be subject to § 39.321. A child’s pension shall terminate upon attainment of age 18, adoption, marriage or death. A handicapped child’s pension shall terminate upon adoption, marriage, full recovery from handicap or death. No benefits shall be paid under this division (b) on account of the death of a member if any benefits are or will become payable under § 39.322 on account of the member’s death.
(1957 Rev. Ords., § 2.114; 1992 Code, § 35-104) (Ord. 49-80, passed 6-9-1980; Ord. 110-89, passed 10-16-1989; Ord. 110-90, passed 12-3-1990; Ord. 104-92, passed 12-7-1992)
(a) Except as otherwise provided in this subchapter, should any member cease to be in the employ of the city for any reason except to become a retirant or his or her death, he or she shall be paid all or part of his or her accumulated contributions account as he or she shall demand in writing on forms furnished by the board.
(b) Except as otherwise provided in this subchapter, upon the death of a member his or her accumulated contributions account shall be paid to the person as he or she shall have nominated by written designation duly executed and filed with the board. If there be no designated person surviving the member, his or her accumulated contributions account shall be paid to his or her legal representative.
(c) If any member dies intestate, without heirs and without having nominated a beneficiary, as provided in division (b) above, his or her accumulated contributions account at the time of his or her death may be used to pay his or her burial expenses, not to exceed a reasonable sum to be determined by the board, provided the member leaves no other estate sufficient for that purpose.
(d) Payment of refunds of a member's accumulated contributions account, as provided for in this section, may be made in monthly installments according to the rules and regulations as the board shall from time to time adopt.
(e) (1) Notwithstanding any provisions of the plan to the contrary that would otherwise limit a distributee's election under this rule, a distributee may elect, at the time and in the manner prescribed by the plan administrator, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.
(2) For the purposes of this section, the following definitions shall apply throughout this rule.
DIRECT ROLLOVER. A payment by the plan to the eligible retirement plan specified by the distributee.
DISTRIBUTEE. Includes an employee or former employee. Effective January 1, 2007, a DISTRIBUTEE further includes a nonspouse beneficiary who is a designated beneficiary as defined by § 401(a)(9)(E) of the Internal Revenue Code. However, a nonspouse beneficiary may only make a direct rollover to an individual retirement account or individual retirement annuity established for the purpose of receiving the distribution, and the account or annuity shall be treated as an "inherited" individual retirement account or annuity.
ELIGIBLE RETIREMENT PLAN.
1. The following that accepts a distributee's eligible rollover distribution:
a. An individual retirement account described in § 408(a) of the Internal Revenue Code;
b. An individual retirement annuity described in § 408(b) of the Internal Revenue Code;
c. An annuity plan described in § 403(a) of the Internal Revenue Code;
d. A qualified trust described in § 401(a) of the Internal Revenue Code;
e. On or after January 1, 2008, to a Roth IRA described in § 408A of the Internal Revenue Code; or
f. With respect to any distribution made after December 31, 2001, an annuity contract described in § 403(b) of the Internal Revenue Code or an eligible plan described under § 457(b) of the Internal Revenue Code, which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into the plan from this plan.
An eligible rollover distribution does not include any other distribution which the Internal Revenue Service does not consider eligible for rollover treatment, such as certain corrective distributions necessary to comply with the provisions of § 415 of the Internal Revenue Code.
2. The definition of ELIGIBLE RETIREMENT PLAN shall also apply in the case of a distribution to a surviving spouse.
ELIGIBLE ROLLOVER DISTRIBUTION.
1. Any distribution of all or any portion of the balance to the credit of the distributee, except that an ELIGIBLE ROLLOVER DISTRIBUTION does not include the following:
a. Any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more; and
b. Any distribution to the extent the distribution is required under § 401(a)(9) of the Internal Revenue Code.
2. With respect to any distribution made prior to January 1, 2002, the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). With respect to any distribution made after December 31, 2001, a portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions that are not included in gross income. However, the portion may be transferred only to an individual retirement account or annuity described in § 408(a) or (b) of the Internal Revenue Code, or to a qualified defined contribution plan described in § 401(a) or § 403(a) of the Internal Revenue Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of the distribution which is includable in gross income and the portion of the distribution which is not so includable.
(1957 Rev. Ords., § 2.1125; 1992 Code, § 35-105) (Ord. 5-05, passed 1-10-2005; Ord. 118-16, passed 12-20-2016)
(a) The accumulated contribution accounts are hereby created. It shall be the accounts in which shall be accumulated at regular interest the contributions deducted from the compensation of members to finance their share of the costs of providing pensions, and from which refunds and transfers of accumulated contributions shall be made as provided in this subchapter.
(b) The contribution of members to the pension fund shall be 8% of the compensation paid by the city for services rendered to the city as a firefighter. Effective January 6, 2014, the contribution of a firefighter member shall be 9% of the employee's compensation; effective January 5, 2015, the contribution of a firefighter member shall be 10% of the employee's compensation.
(c) The officer responsible for making up the payroll shall cause the contributions provided for in division (b) above to be deducted from the compensation of each member on each and every payroll, for each and every payroll period, so long as he or she remains a member in the employ of the city. The contributions provided for in this section shall be made notwithstanding that the minimum compensation provided by law for any member shall be changed thereby. Each member shall be deemed to consent and agree to the deductions made and provided for in this section, and payment of his or her compensation less the deduction shall be a full and complete discharge and acquittance of all claims and demands whatsoever for the services rendered by the member during the period covered by the payment except as to benefits provided by this subchapter. The officer responsible for making up the payroll shall certify to the city finance director the contribution to be deducted from the compensation of each member for each and every payroll. Each of the amounts shall be deducted by the city finance director and when deducted shall be paid into the pension fund and credited to the individual accumulated contributions account of the member from whose compensation the deduction was made.
(d) At the expiration of a period of four years following the date a member's membership terminates any balance of accumulated contributions in his or her accumulated contributions account, unclaimed by the member or his or her legal representative, shall remain with the pension fund.
(e) In addition to the contributions deducted from the compensation of a member, as provided in this section, the member shall pay into the accumulated contributions account, by a single contribution within six months after the date of reemployment, the amount required to be repaid by § 39.308. In no case shall any member be given credit for service rendered prior to the date the member withdrew the accumulated contributions until the member repays to the accumulated contributions account all amounts due the accumulated contributions account by the member.
(f) (1) The city shall pick up the member contribution required by division (b) above for all compensation earned after the effective date of this division (f). The contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code. The city shall pick up the member contributions from funds established and available in the salaries account, which funds would otherwise have been designated as member contributions and paid to the pension fund. Member contributions picked up by the city pursuant to this division (f)(1) shall be treated for all other purposes of this and other laws of the city in the same manner and to the same extent as member contributions made prior to the effective date of this division (f)(1).
(2) Member contributions to the pension fund shall be paid by the city on behalf of all members. Payment of the member's contribution picked up by the city shall be made by reducing the amount of the compensation payable to those members and making payment of the amount directly to the pension fund. Contributions, although designated as member contributions, are being paid by the city in lieu of contributions by the members. Members do not have the option of choosing to receive the contributed amounts directly instead of having them paid by the city to the pension fund.
(3) The effective date of this division (f)(3) shall be the first day of the first pay period after the city has received notification of approval from the Internal Revenue Service that, pursuant to § 414(h) of the United States Internal Revenue Code, the member contributions so picked up shall not be included in gross income for tax purposes until a time as they are distributed by refund or benefit payment, but the effective date shall not be prior to December 15, 2003.
(1957 Rev. Ords., § 2.1126; 1992 Code, § 35-106) (Ord. 4-82, passed 1-14-1982; Ord. 108-85, passed 12-2-1985; Ord. 59-86, passed 6-9-1986; Ord. 110-90, passed 12-3-1990; Ord. 88-91, passed 11-25-1991; Ord. 5-01, passed 1-16-2001; Ord. 55-02, passed 7-8-2002; Ord. 06-04, passed 1-12-2004; Ord. 24-13, passed 5-7-2013; Ord. 118-16, passed 12-20-2016)
(a) (1) The pension fund is hereby created. It shall be the fund in which shall be accumulated reserves for the payment of pensions payable from funds provided by the city.
(2) Upon the basis of the mortality and other tables of experience, and regular interest, as the board shall from time to time adopt, the actuary shall annually compute the reserves for:
A. Pensions being paid retirants and beneficiaries; and
B. Pensions likely to be paid on account of service rendered and to be rendered by members.
(3) The fund shall be financed by annual appropriations, to be made by the council, determined according to this division (a) and divisions (b), (c) and (d) below.
(b) The appropriations for members' current service shall be a percent of their annual compensations which will produce an amount which if paid annually by the city during their future service will be sufficient to provide the reserves at the time of their retirements, for the portions of the pensions to be paid them based upon their future service.
(c) The appropriation for members' accrued service shall be a percent of their annual compensations which will produce an amount which if paid annually by the city over a period of years, to be determined by the council, will amortize, at regular interest, the unfunded pension funds for the accrued service portions of the pensions to which they might be entitled.
(d) The appropriation for pensions being paid retirants and beneficiaries shall be a percent of the annual compensations of members which will produce an amount which if paid annually by the city over a period of years, to be determined by the council, will amortize, at regular interest, the unfunded amounts for pensions being paid retirants and beneficiaries.
(e) Until the reserves accumulated in the pension fund equal or exceed the present value of all pensions payable from the fund, the city's contributions to the pension fund, in any fiscal year, shall not be less than 12% of the aggregate compensations paid members during the preceding fiscal year.
(f) To cover all or part of the city's contributions to the pension fund, as provided in this section, the city may levy an annual tax upon the assessed valuation of the city for the current year, which levy shall be in addition to the amount authorized to be levied for general purposes. The levy shall be determined by the council as required in this section.
(g) All contributions made by the city under this pension fund shall be deposited in the pension fund. However, contributions made by the city are expressly conditioned upon the initial qualification of the pension fund under the Internal Revenue Code. Upon the city's request, a contribution which was made by mistake of fact or conditioned upon initial qualification shall be returned to the city within one year after the payment of the contribution or the denial of the qualification.
(h) Except as otherwise provided in this section, all assets of the pension fund, including investment income, shall be retained for the exclusive benefit of members and their beneficiaries, shall be used to pay benefits to those persons or to pay administrative expenses to the extent not paid by the city and shall not revert to or inure to the benefit of the city.
(i) In no event shall the city receive any amounts from the fund upon termination of the pension fund, except that, and notwithstanding any other provision of the pension fund, the city shall receive those amounts, if any, as may remain after the satisfaction of all liabilities of the pension fund and arising out of any variations between actual requirements and expected actuarial requirements.
(1957 Rev. Ords., § 2.1127; 1992 Code, § 35-107) (Ord. 2696, passed 7-27-1970; Ord. 119-84, passed 8-27-1984; Ord. 110-90, passed 12-3-1990; Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)
All monies received by the city from the insurance department of the state, as the city's proportionate share of the insurance fund collected from the various insurance companies, shall be credited to the pension fund. All gifts, devises and bequests to the pension fund shall be credited to the pension fund.
(1957 Rev. Ords., § 2.1129; 1992 Code, § 35-109; Ord. 118-16, passed 12-20-2016)
(a) Any provision in this subchapter to the contrary notwithstanding, if in any year, the aggregate amount of pensions payable to retirants and beneficiaries is more than the total monies in the pension fund arising from:
(1) City and state contributions; and
(2) Contributions made by members on whose account pensions are being paid.
(b) Then the pensions being so paid shall be reduced pro rata so that the aggregate amount of the reduced pensions does not exceed the total of the monies in the pension fund arising from:
(1) City and state contributions; and
(2) Contributions made by members on whose account pensions are being paid.
(1957 Rev. Ords., § 2.1130; 1992 Code, § 35-110)
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