[Ord. No. 545, §§ 1.01-1.03, 1.05-1.14, 8-12-1968; Ord. No. 648, 5-8-1972; Ord. No. 811, § 1, 3-12-1979; Ord. No. 853, § 1, 6-8-1981; Ord. No. 871, § 1, 3-8-1982; Ord. No. 926, § 1, 2-11-1985; Ord. No. 944, § 1, 3-10-1986; Ord. No. 1008, § 1, 6-12-1989; Ord. No. 1054, § 1, 1-14-1991; Ord. No. 1094, § 1, 2-10-1992; Ord. No. 1165, § 1, 12-12-1994; Ord. No. 1249, § 3, 12-8-1997; Ord. No. 1330, §§ 1, 2, 3, 8-14-2000; Ord. No. 1391, §§ 1 and 2,[1] 11-13-2002]
As used in this Article, the following terms shall have the indicated meanings:
As of any date of determination, a participant's accrued monthly pension shall be the greater of (a) or (b) where:
Is the sum of (1) plus (2) multiplied by (3), where:
Notwithstanding the above, effective January 1, 2003, the accrued monthly benefit for each employee hired on or after that date will be equal to sum of (1) and (2) but not greater than (3), where:
Is two (2) percent of average monthly plan compensation times years and months of continuous service at the date of determination up to 25 years,
Is 1.667 percent of average monthly plan compensation times his years and months of continuous service at the date of determination in excess of 25 years, and
Is sixty (60) percent of average monthly plan compensation.
Each participant who was hired prior to January 1, 2003, and terminates on or after that date will receive the greater of (a), (b) and (c) above.
The average of each participant's monthly earnings rate on January 1 of the highest five of the last 10 calendar years of continuous service, or of such lesser number of years of continuous service as the participant may have been in the employ of the Township. Notwithstanding the above, effective for anyone who is an active participant on or after July 1, 2000, average monthly plan compensation is the average of each participant's monthly earnings rate on the January 1 of the highest three of the last 10 calendar years of continuous service or of such lesser number of years of continuous service as the participant may have been in the employ of the Township.
In the case of each employee of the Township, the period of his continuous employment as an employee of the Township. Continuous service shall be computed to the nearest 1/12 of a year. Periods of absence due to:
Sick leave or authorized leave not in excess of one year as to any one such leave, where all such leaves shall be granted according to reasonable rules of consistent application,
Voluntary or involuntary service in the armed forces of the United States while it is engaged in a war or while any law requiring compulsory military service is in effect,
shall not interrupt continuous service but shall not, except for (b), be included in continuous service; provided, however, that if an employee fails to return to work within the time fixed by the Township (or within such longer time as may be provided by law for the protection of his reemployment rights following military service), his continuous service shall be deemed to have ended at the beginning of such absence. |
Notwithstanding the above, effective for anyone who is an active participant on or after January 1, 1998, whose continuous service ends prior to becoming eligible for a deferred vested pension and who later returns as a participant, if the period of his original continuous service is greater than or equal to the period of his absence, his continuous service shall be aggregated to include both periods. |
In the case of a participant whose employment terminates, whose date of termination is on or after January 1, 1998, and is after the date the participant has completed five years of continuous service (excluding a participant whose employment terminates by death or for whom a normal retirement pension, early retirement pension, or disability pension is defined at the time the participant's employment terminates), his accrued monthly pension on the date his employment terminates.
In the case of a participant whose employment terminates prior to January 1, 1998, after the date of the participant has completed five years of continuous service in the case of the Township Manager and 10 years of continuous service for all other participants (excluding a participant whose employment terminates by death or for whom a normal retirement pension, early retirement pension, or disability pension is defined at the time the participants employment terminates), his accrued monthly pension on the date his employment terminates.
The permanent inability of a member to physically or mentally perform his or her regular duties as a Township employee, as determined by the Council of Plymouth Township on the basis of medical evidence, which disability is determined to be permanent and irreversible in nature, so that the member will never again be fit to physically or mentally perform such duties.
Effective for anyone who is an active participant on or after July 1, 2000, and whose employment terminates (other than by death or disability) before his normal retirement date but after the date he has both completed 10 years of continuous service and attained age 50; the date on which his employment terminates.
January 1, 1968.
For a participant his regular straight-time rate of monthly salary, excluding overtime, bonuses or any other form of additional compensation; provided, however, that if a participant is compensated on a weekly salary basis, his monthly earnings rate shall be equal to 4 1/3 times his regular straight-time rate of weekly salary. If a participant is compensated on an annual salary basis, his monthly earnings rate shall be equal to 1/12 of his annual salary basis. If a participant is compensated on an hourly basis, his monthly earnings rate shall be equal to 173 times his regular straight-time rate of hourly wage.
Effective for anyone who is an active participant on or after July 1, 2000, the last day of the month in which he attains age 62 and completes five years of service, or the last day of the month in which his employment terminates, if later.
In the case of each participant who retires on or after his normal retirement date, his accrued monthly pension as of his date of retirement.
Each regular employee of the Township, other than members of the Township Police Department, excluding:
Those whose customary employment is for not more than 30 hours per week; and
Those whose customary employment is for not more than five months per year.
An employee of the Township shall become a participant on the date that he or she commences employment with the Township, provided the employee is not excluded by reason of subSubsection (a) or (b) above. This definition of "participant" shall be effective from and after January 1, 1989. |
The pension plan set forth in this Article as amended from time to time, which shall be known as the "Plymouth Township Pension Plan."
The period from January first to the following December thirty-first, beginning with the calendar year 1968.
[1]
Editor's Note: This Section of Ord. No. 1391 provided for an effective date of 1-1-2003.