[Adopted as Ord. No. 153-1987 (Ch. 12, Art. IV, Div. 4, of
the 1979 Code)]
A.Â
On or after July 1, 1987, any individual who becomes
a member of the firemen's pension fund shall be governed by the provisions
of this Article.
B.Â
Prior to July 1, 1987, any member of the firemen's
pension fund is eligible to be governed by the provisions of this
Article. In order to do so, the member must notify the Secretary of
the firemen's pension fund, in writing, of his intention. Immediately
after the Secretary is notified, the member shall be governed by the
provisions of this Article.
Every member who shall have served continuously
for a period of 25 years, periods of suspension and absence excluded,
and having attained the age of 55 shall be eligible to retire from
said Bureau.
The monthly pension benefit is to be set at
50% of the average monthly compensation calculated over the last 36
months of employment. Compensation is defined as base pay and longevity.
There shall not be a cost of living increase
for those members who retire under the provisions of § 12-84.
For those members who retire under the provisions of § 12-90,
the cost of living increase shall amount to 25% of any increase in
salary granted to those firemen on active duty of the same rank.
There shall not be a service increment for any
type of retirement.
There shall not be any lump sum death benefit.
A member shall be vested for a benefit after
25 years of continuous service, periods of suspension and absence
excluded.
A disability benefit is provided for a member
regardless of service. For non-service related disability the benefit
shall be 5% of salary per year of service up to a maximum of 50%.
For a service connected disability the benefit shall be the normal
retirement benefit as per this Article. This amendment shall apply
to any employee who has received a disability benefit pursuant to
the pension plan otherwise described in this Article.
A.Â
Any member who is married and who retires shall, at
the time of retirement, receive the pension so provided for during
his lifetime and a pension after his death, payable to his surviving
spouse at the time of retirement equal to 50% of his pension at the
time of retirement and thereafter said spouse shall receive an increase
in pension in an amount to equal 25% of any increase granted to active
members of the same rank as the deceased spouse when he retired from
active service.
B.Â
A surviving spouse of any active member who at the
time of his death was in active service with the City shall be entitled
to survivorship benefits equal to 50% of the pension which would have
been payable to such active member had he retired at the date of his
death and thereafter shall receive an increase in pension payments
equal to 25% of the increase granted to active members of the same
rank as the deceased spouse when he retired from active service.
Each member shall contribute three and one-half
percent (3Â 1/2%) of base pay and longevity to the firemen's pension
fund.
The administration of the firemen's revised
pension plan shall be the same as the previously adopted firemen's
pension plan.