[1]
Editor's Note — Ord. no. 5005 §1, adopted October 16, 2006, amended and restated sections 200.140 — 200.450 in their entirety. Former sections 200.140 — 200.450 derived from CC 1984 §§2-320 — 2-321, 2-323 — 2-324, 2-330 — 2-334, 2-340 — 2-344, 2-350 — 2-354, 2-360 — 2-361, 2-363 — 2-364, 2-370 — 2-374, 2-381 — 2-384; ord. no. 4122 §1, 6-2-1986; ord. no. 4218 §1, 7-5-1988; ord. no. 4352 §1, 8-6-1990; ord. no. 4417 §§1 — 2, 9-3-1991; ord. no. 4764 §§1 — 5, 7-5-2000; ord. no. 4839 §1, 4-7-2003.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5096 §1, 2-17-2009; Ord. No. 5174 §1, 6-20-2011]
As used herein, the following terms shall have these prescribed meanings:
BOARD OF TRUSTEES
The Board provided for in this Article III to establish policy and rules for the administration of the Fund.
FUND
The Policemen's and Firemen's Retirement Fund.
PLAN
The retirement plan established pursuant to this Article III.
RETIREMENT BASE PAY
The average base pay of the employee from the City for the three (3) years prior to the date of such employee's death or retirement, whichever occurs first. In cases of disability or death prior to three (3) years' service, the retirement base pay shall be the average base pay of the employee for the period of employment by the City. The retirement base pay for pension benefits of retirees or survivors shall be increased annually beginning July 1, 1987, by the percentage of average per-member increase in base pay for the entire Police or Fire Department during the previous fiscal year of the City. Such increase shall not occur once the member reaches the age when said member qualifies for one hundred percent (100%) of his/her Social Security retirement benefits.
Notwithstanding the foregoing, the retirement base pay taken into account in determining benefit accruals in any plan year shall not exceed the amount set forth in Code Section 401(a)(17), as adjusted for cost of living increases by the Secretary of the Treasury. (For 2010, $245,000.00; and for 2011, $245,000.00). "Annual retirement base pay" means retirement base pay during the plan year or such other consecutive twelve (12) month period over which compensation is otherwise determined under this Article III (hereinafter defined as the "determination period"). The cost of living adjustment in effect on January first (1st) of any calendar year shall apply to any determination period beginning in such calendar year. For this purpose, the term "determination period" as used herein is any period not exceeding twelve (12) months over which compensation is determined. If a determination period consists of fewer than twelve (12) months, the Section 401(a)(17) limit will be multiplied by a fraction, the numerator of which is the number of months in the determination period, and the denominator of which is twelve (12).
Compensation for purposes of determining retirement base pay for periods of Qualified Military Service, as defined for purposes of the Uniformed Services Employment and Reemployment Rights Act of 1994 ("USERRA") after December 12, 1994, shall be at the rate of compensation the employee received at the time he entered Qualified Military Service, increased for compensation adjustments which are universally applied to all employees who are in the same employment classification as the employee during his period of absence on account of Qualified Military Service.
SERVICE
The time employed in either the Police or Fire Department or a combination of the two (2) departments.
SURVIVING SPOUSE
The person lawfully married to a participant hereunder for a continuous period of at least one (1) year prior to death.
[Ord. No. 5005 §1, 10-16-2006]
A. 
This plan is hereby established for the salaried members of the organized Police and Fire Departments of the City pursuant to the Constitution of the State of Missouri and laws pertaining thereto, which plan shall be effective for all members and beneficiaries for all benefits paid as a result of death or retirement (disability or voluntary).
B. 
The purpose of the plan is to provide for such members who retire because of service or age or disability and for the payment of such members during their retirement. Upon the death of the retired member, the plan shall allocate the benefits provided by Section 200.400 of this Article to the retired member's surviving spouse and children under the age of twenty (20). Unless otherwise provided by this Article III, the rights of any member or beneficiary to benefits hereunder shall be governed by the terms of the plan in effect on the date of the member's retirement.
C. 
For the purpose of funding the benefits provided for herein, the City has established the Police and Firemen Retirement Fund (hereinafter "Fund"). All contributions shall be credited to this Fund. There shall be no diversion of any portion of the assets of the Fund other than for the exclusive benefit of members and their beneficiaries and for the satisfaction of all liabilities with respect to members and their beneficiaries under the plan. All investment income shall be put in this Fund.
D. 
The Fund shall be under the exclusive management and control of the Board of Trustees in whose name the Fund shall contract all its business and hold all its monies, securities and other property. The Board of Trustees shall have full power to invest and reinvest the funds, subject to all the terms, conditions, limitations and restrictions imposed by law upon a corporate trustee in the State of Missouri in making and disposing of its investments and subject to like terms, conditions, limitations and restrictions, the Board of Trustees shall have full power to hold, purchase, sell, assign, transfer or dispose of any of the securities and investments in which the Fund created in this Article III shall have been invested, as well as of the proceeds of the investments and any monies belonging to the Fund. Any securities obtained by the Board of Trustees may be held in the name of a nominee in order to facilitate investments.
[Ord. No. 5005 §1, 10-16-2006]
A. 
There shall be a Board of Trustees of the Fund. The Board of Trustees shall consist of:
1. 
The City Manager;
2. 
One (1) member of the Police Department;
3. 
One (1) member of the Fire Department;
4. 
Any member of the Council appointed by the City Council; and
5. 
Three (3) outside persons who shall be resident citizens, who are nominated by the Mayor and approved by the Council.
B. 
The Mayor, in the appointment of the citizen members, shall designate those members who are to serve for one (1) year and those members who are to serve for two (2) years. Thereafter, such appointment shall be made annually in the month of December for two (2) full years.
C. 
The members of the Police and Fire Departments respectively shall be elected by the employees thereof on the first (1st) Monday in December every two (2) years.
D. 
In the event of a vacancy, successors shall be elected within ten (10) days.
E. 
All appointed or elected Trustees shall continue to hold office until their successors are duly appointed or elected, as the case may be, unless removed for cause by the City Council after written charges and a hearing.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall elect from its membership a President and Vice President. The Board shall, by a majority vote of its members, elect a Secretary who may, but need not be, one of its members. All such officers shall hold office for a term of one (1) year or until their successors are duly elected.
B. 
The City Manager shall be the Treasurer of the Board of Trustees and shall give such additional bond with acceptable surety as the Trustees shall require, the premium to be paid for by the Fund. In the event of vacancy or inability of the City Manager to serve, an Acting Treasurer may be appointed with like bond.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall engage such actuarial, legal, accounting, investment, custodial and other services as shall be required for the operation of the plan.
B. 
The compensation of all persons engaged by the Board of Trustees and all other expenses of the plan shall be paid at such rate and in such amounts as the Board of Trustees shall approve.
C. 
The compensation and expenses shall be paid out of the Fund, provided the members of the Board of Trustees shall not receive any compensation as such members.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall meet the second (2nd) Monday of each month at 7:00 P.M. at City Hall to transact any and all business which may come before it. If that Monday is a legal holiday in the City of Richmond Heights, the meeting shall be at 7:00 P.M. on the next succeeding day.
B. 
The Board of Trustees may hold special meetings by giving proper legal notice and upon three (3) days' notice to the Trustees in writing, posted in the United States mail to the last known address of the Trustees.
C. 
At any regular or special meeting, no business shall be transacted until a quorum of five (5) Trustees is present. A majority vote of the members present shall pass any motion, resolution or any other matter which may be decided upon.
D. 
Minutes of all meetings of the Board of Trustees shall be prepared and maintained by the Secretary, subject to approval by the Board of Trustees at the next succeeding meeting. All minutes approved by the Board of Trustees shall be available for public inspection, except as otherwise permitted by law.
E. 
The President or, in his/her absence, the Vice President, if any, shall preside at all meetings of the Board of Trustees. In the absence of the President and Vice President at any meeting, the Trustees shall elect from its membership a Chairman to preside at such meeting.
F. 
All meetings of the Board of Trustees shall be recorded, except as otherwise permitted by law. Such recordings shall be retained by the City Manager for a period of five (5) years after each meeting.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall annually make a report to the Council. The report shall show the:
1. 
Fiscal transactions of the plan for the preceding fiscal year;
2. 
Amount of the accumulated cash and securities of the plan; and
3. 
Last balance sheet showing the financial condition of the plan by means of an annual audit of the assets and liabilities of the plan.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall make rules and regulations for the government of its affairs, the interpretation and implementation of this plan and the administration of the Fund.
B. 
The Board of Trustees shall have exclusive jurisdiction of all retirement claims, benefits or refunds. The Board of Trustees shall hold hearings and take and preserve the evidence of all disputed matters.
C. 
The evidence, record and final findings and decision of the Board of Trustees shall be subject only to review by writ of certiorari to the Circuit Court of St. Louis County with the right of appeal as allowed by law.
D. 
No regulation adopted by the Board of Trustees shall be amended, suspended or repealed and no new regulation shall be added except on the affirmative vote of a majority of the entire membership of the Board of Trustees. Notice in writing of intention so to amend, suspend or repeal any regulation, in whole or in part, or to add a new regulation must be filed with the Secretary of the Board of Trustees at the next preceding regular meeting of the Board, which notice shall set forth in full the proposed amendment or addition or proposal for a suspension or repeal of any rule, together with a request that such proposed amendment or addition or proposal for suspension or repeal be submitted for a vote at the next regular meeting of the Board of Trustees.
[Ord. No. 5005 §1, 10-16-2006]
A. 
A custodian bank hired by the Board shall serve as custodian of all monies, securities and other property of the Fund, subject to the control and direction of the Board of Trustees, and shall safely keep all cash, securities, property and investments. The Board of Trustees shall disburse from the Fund funds for the payment of the expenses of the plan as the Board of Trustees shall approve. As prescribed by the Board of Trustees, the custodian bank shall keep and distribute monthly a statement of the financial holdings and transactions of the Fund. In the event that the Board chooses to use pooled or mutual funds for some or all of its investments, reports from the mutual fund or pooled account manager shall provide at least quarterly valuations which shall be distributed to the Board quarterly.
B. 
The Treasurer shall be liable on his/her bond executed to the City for all acts concerning the Fund.
C. 
After initial approval by the Board of Trustees, all benefit checks (other than death benefits) payable by the Fund shall be paid monthly on the last day of each calendar month until the Board of Trustees shall otherwise direct.
D. 
All bills and indebtedness of the Fund must be approved for payment by the Board of Trustees for payment.
E. 
A separate transaction account shall be maintained for the Fund and all receipts shall be deposited therein and all disbursements shall be paid therefrom. The Board of Trustees shall designate a bank as depository for the Fund. All checks or other withdrawals from said account shall be signed by the Treasurer.
F. 
No monies, investments or other property of the Fund shall be commingled with monies, investments or other property of the City.
G. 
An annual audit of the Fund shall be performed by the firm of certified public accountants employed by the City.
H. 
Death benefits shall be paid by the Treasurer upon receipt of satisfactory evidence of death, provided that a report of such death benefit payment shall be made at the next regular meeting of the Board of Trustees.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Board of Trustees shall keep in convenient form all data necessary for actuarial valuation of the Fund of the plan and for checking the experience of the plan.
B. 
Not less frequently than biannually, the Board of Trustees shall cause an actuarial valuation to be performed in compliance with the recommended standards and guidelines of the governmental accounting standards board. Such actuarial valuation shall be performed by an actuary who is a member in good standing of the American Academy of Actuaries.
[Ord. No. 5005 §1, 10-16-2006]
The Fund shall consist of all monies that may be given to the Board of Trustees and any other fund or funds given by any person for the uses and purposes for which the Fund is created. The Board of Trustees may take by gift, grant, devise or bequest any money, personal property, real estate or interest therein or any right of property. Any gift, grant, devise or bequest may be absolute or in fee simple or upon condition that only the rents, income or profits arising therefrom shall be applied to the purpose for which the Fund is established.
[Ord. No. 5005 §1, 10-16-2006]
A. 
A tax not to exceed 3.7 mills ($.0037) shall be levied on each dollar of the value of all taxable tangible property annually assessed in the City as the same appears on the tax books. Such sum shall be earmarked in a separate fund and set aside and made a part of the Fund by the City Manager and turned over to the Treasurer of the Board of Trustees. This sum shall not be used for nor devoted to any purpose other than herein specified.
B. 
Whenever the total amount in cash and securities on hand in the Fund shall equal or exceed the actuarial equivalent of the sum required to pay all benefits as determined by the actuary for the plan, the Council may, in its sole discretion, reduce the tax rate to be levied in the next succeeding taxable year and the employee contribution in a proportionate amount to a figure as in its judgment may be sufficient to provide adequate funds for the purpose set forth. This tax rate shall not thereafter bear an increase within the limit herein provided except upon an affirmative showing by the Board of Trustees that an increase is necessary for the purpose herein specified.
[Ord. No. 5005 §1, 10-16-2006]
A. 
Every employee of the Police and Fire Departments eligible to participate in the plan as provided in Section 200.280 shall be assessed three percent (3%) of his/her base salary. However, all members shall pay only one percent (1%) of their base salaries until one (1) year after adoption of this Article and thereafter two percent (2%) until two (2) years after the date of enactment of this Article when the full three percent (3%) shall be assessed against all members.
B. 
The sum shall be paid in regular biweekly payments which are deducted from each employee's compensation due him/her by the City. This shall be done by the Clerk who, in turn, shall place the same amounts to the credit of the Fund.
C. 
Every person who becomes an employee of the Police or Fire Department shall be liable for the assessment and shall sign an authorization prepared by the Board of Trustees for the City Clerk to deduct the above-mentioned amounts. In becoming an employee thereof, he/she shall be conclusively deemed to undertake and agree to pay the assessment and to have it deducted from his/her compensation as herein provided. Any person employed in either department who refuses to execute the authorization shall be ineligible to receive any of the benefits.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The assets of the Fund may be invested, reinvested and managed by an investment fiduciary as defined in Section 105.687, RSMo. An investment fiduciary shall discharge his/her duties in the interest of the participants of the Fund and their beneficiaries and shall:
1. 
Act with the same care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity and familiar with those matters would use in the conduct of a similar enterprise with similar aims.
2. 
Act with due regard for the management, reputation and stability of the issuer and the character of the particular investments being considered.
3. 
Make investments for the purposes of providing benefits to participants and participants' beneficiaries and of defraying reasonable expenses of investing the assets of the Fund.
4. 
Have authority to invest and reinvest all or any part of the Fund through the medium of any common, collective or commingled trust fund, as the same may have heretofore been or may hereafter be established or amended, which is qualified under the provisions of Section 401(a) and exempt under the provisions of Section 501(a) of the Internal Revenue Code of 1986, as such Sections may be from time to time amended or renumbered and during such period of time as an investment through any such medium shall exist, the Declaration of Trust of such fund shall constitute a part of the trust established under this Article.
5. 
Give appropriate consideration to those facts and circumstances that the investment fiduciary knows or should know are relevant to the particular investment or investment course of action involved, including the role the investment or investment course of action plays in that portion of the Fund's investments for which the investment fiduciary has responsibility. For the purposes of this Subsection, "appropriate consideration" shall include, but is not necessarily limited to, a determination by the investment fiduciary that a particular investment or investment course of action is reasonably designed, as part of the investments of the Fund, to further the purposes of the Fund, taking into consideration the risk of loss and the opportunity for gain or other return associated with the investment or investment course of action and consideration of the following factors as they relate to the investment or investment course of action:
a. 
The diversification of the investments of the Fund;
b. 
The liquidity and current return of the investments of the fund relative to the anticipated cash flow requirements of the Fund; and
c. 
The projected return of the investments of the Fund relative to the funding objectives of the plan.
6. 
Give appropriate consideration to investments which would enhance the general welfare of this City and its citizens if those investments offer the safety and rate of return comparable to other investments available to the investment fiduciary at the time the investment decision is made.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5174 §1, 6-20-2011]
A. 
Any person who becomes an employee of the Police or Fire Department, except as provided in Section 200.290, shall be subject to the provision of this Article as a condition of his/her employment. Any person who shall become an employee of either department shall submit to a physical examination prior to his/her employment.
B. 
The Board of Trustees shall fix by rule how much service in any calendar year shall constitute a year's service, but authorized absence or sick leave shall not be counted as absence from duty.
C. 
If an employee of the Police or Fire Department voluntarily leaves the service of the respective department for any cause, he/she shall not be entitled to credit for prior service upon re-entering the service of the Fire or Police Department unless such employee's break in service is less than two (2) years and the employee repays any prior contributions withdrawn from the Fund, together with interest from the date of withdrawal at a rate set by the Board. This provision shall be applicable to all employees re-employed by the City after January 1, 1985.
D. 
Notwithstanding any provision of this Article III to the contrary, effective December 12, 1994, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Internal Revenue Code Section 414(u).
E. 
Each period of Qualified Military Service as defined for purposes of the Uniformed Services Employment and Reemployment Rights Act of 1994 ("USERRA"), served by an employee, shall upon re-employment with the City within the time required under USERRA, be deemed service with the City for purposes of determining the employee's years of service. If an employee of the Police or Fire Department returns to service of the Police or Fire Department from Qualified Military Service, as defined for purposes of USERRA, within the time required by USERRA, such employee shall be permitted to make up missed mandatory contributions (without credited interest) required to earn a benefit accrual for the military service period (provided that the make-up contributions are paid within the time period specified by USERRA); and if such make-up contributions are not so made, benefits shall be actuarially adjusted.
[Ord. No. 5005 §1, 10-16-2006]
The provisions of this Article shall not apply to dispatchers or to school traffic officers or to special duty Marshals or other civilian employees of the City.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The benefit payable by the Fund, whether before or after ordered paid by the Board of Trustees, shall not be assignable or subject to counterclaim, recoupment, execution, garnishment or set-off except as provided in this Article. It shall remain the property of the Fund until actually paid to the person or persons so designated. It shall not be subject to assessment, garnishment, execution, injunction or any other decree, order, process or proceeding in any court for the payment of any debt of any beneficiary.
B. 
The sum of the benefit shall be held and distributed for the purpose of this Article and title to the funds shall not transfer until actually paid to the person described in this Article and for no other purpose whatever.
[Ord. No. 5005 §1, 10-16-2006]
A. 
Any employee of the Police or Fire Department in service and having thirty (30) years' service in the department or having reached sixty (60) years of age may file with the Board of Trustees an application for retirement on pension, setting forth a time, not less than thirty (30) nor more than ninety (90) days after the filing of the application, at which time he/she desires to be retired. Even if the employee's service has been discontinued during the period of notification, he/she shall be retired by the Board of Trustees at the time desired and shall be paid monthly out of the Retirement Fund a pension of seventy percent (70%) of his/her retirement base pay for life, except that if voluntary retirement occurs at or after a member reaches age sixty (60) and such member has more than fifteen (15) and less than thirty (30) years of service, the member shall be paid a pension of seventy percent (70%) of his/her retirement base pay multiplied by the proportion of years of actual service to thirty (30) years and such benefits shall commence at retirement.
B. 
Voluntary Retirement. An employee who terminates employment prior to reaching age sixty (60) and who has completed at least fifteen (15) years of service but less than thirty (30) years of service shall receive a monthly benefit on the following terms and conditions:
1. 
Voluntary retirement benefits shall commence when such member attains age sixty (60) or when such member would have had thirty (30) years of service if he/she had continued in service, whichever is earlier. The member must file with the Board of Trustees an application for retirement on pension, setting forth a time, not less than thirty (30) nor more than ninety (90) days after the filing of the application, at which time he/she desires to be retired.
2. 
If voluntary retirement occurs at or after a member has more than fifteen (15) and less than thirty (30) years of service, the member shall be paid a pension of seventy percent (70%) of his/her retirement base pay prior to termination of employment multiplied by the proportion of years of actual service to thirty (30) years and such benefit shall commence at retirement as provided in (B)(1) above.
3. 
No employee of the Police or Fire Department in service having less than fifteen (15) years of service may voluntarily retire with monthly benefits.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5174 §1, 6-20-2011]
Subject to Section 200.310(B)(3), an employee's retirement benefits shall be distributed commencing not later than April first (1st) of the calendar year following the calendar year in which the employee attains age seventy and one-half (70½) or April first (1st) of the calendar year following the calendar year in which the employee retires, whichever is later, and shall otherwise comply with Internal Revenue Code Section 401(a)(9) applicable to governmental plans. All distributions required under this Article will be determined and made in accordance with the Treasury regulations under Section 401(a)(9) of the Code and the good faith compliance standard for governmental plans under the Pension Protection Act of 2006 with regard to Code Section 401(a)(9).
[Ord. No. 5005 §1, 10-16-2006]
A. 
Mandatory retirement for all employees of the Police or Fire Department shall be as set forth in the ordinances of the City of Richmond Heights.
B. 
Subject to Section 200.310(B)(3), on such retirement, the employee shall be paid the benefit provided for voluntary retirement applicable to other members.
[Ord. No. 5005 §1, 10-16-2006]
A. 
All employees who elect, apply and qualify for retirement per Section 200.310 (A) or (B) and who retire shall receive a one-time, lump sum refund of their employee contributions, without interest, at the age of sixty (60) years or upon reaching the thirtieth (30th) anniversary date of his/her employment, whichever is sooner. The refund is payable in addition to his/her monthly retirement benefit.
B. 
A permanently and totally disabled employee who elects, applies and qualifies for disability retirement is not eligible for the refund of employee's contributions until said disabled employee reaches sixty (60) years of age or the thirtieth (30th) anniversary date of his/her employment, whichever is sooner. If an employee who is less than sixty (60) years old dies during his/her employment period or during his/her disability retirement, said employee's surviving spouse shall receive the refund upon the employee's death.
C. 
In the event of the death of an employee, said employee's surviving spouse shall receive the refund upon the employee's death. If there is no surviving spouse or if the surviving spouse dies before any such payment can be made, the refund shall be divided equally among the surviving children of such employee. In the event any such employee dies leaving no surviving spouse and no surviving children, the refund shall be paid to such person as may be designated in writing by the employee. If the employee has failed to designate a recipient of the refund in writing, the refund shall be paid to the employee's estate.
D. 
All of the foregoing amendments regarding the refund of employee contributions are substantive and shall apply prospectively only. Said changes shall apply only to employees in active service on July 3, 2000 and those who initially apply for retirement and pension benefits on or after July 3, 2000.
[Ord. No. 5005 §1, 10-16-2006]
A. 
Any employee of the Police or Fire Department who suffers a duty caused disability shall be paid out of the Fund monthly for life sixty-six and two-thirds percent (66 2/3%) of his/her retirement base pay. Notwithstanding the foregoing, if at the time a duty caused disability occurs, an employee's accrued benefit exceeds the foregoing percentage of retirement base pay, the employee shall be paid out of the Fund monthly for life seventy percent (70%) of retirement base pay multiplied by the proportion of actual years of service to thirty (30) years, not to exceed seventy percent (70%) of such retirement base pay. Two (2) or more doctors of those selected by the Board of Trustees must certify to the Board of Trustees that the disability permanently and totally prevents the employee from performing his/her job with the City and that the employee shall be retired from service in order for such disability to qualify for benefits.
B. 
The Board of Trustees shall pay out of the Fund the medical and nursing expenses related to such disability of an employee injured in the line of duty which are not paid by Workers' Compensation or any other insurance, in addition to his/her regular disability compensation.
C. 
The Board of Trustees shall determine whether a disability is duty caused and its decision shall be final and conclusive.
[Ord. No. 5005 §1, 10-16-2006]
A. 
Any employee of the Police or Fire Department who, after two (2) years of employment, suffers a disability other than duty caused shall be paid out of the Fund monthly for life twenty-five percent (25%) of his/her retirement base pay or he/she shall be paid seventy percent (70%) of his/her retirement base pay multiplied by the proportion of actual years of service to thirty (30) years not to exceed seventy percent (70%) of such retirement base pay, whichever sum is the greater.
B. 
If a person receiving the non-duty disability benefit is gainfully employed, the amount of his/her monthly benefit payment shall be appropriately reduced so that the amount of such payment when added to the amount earned by such person in his/her gainful employment shall not exceed the then current earnable salary for the rank or position held by such person at the time he/she became disabled. This reduction shall not apply to a member disabled after fifteen (15) years' service when the member thereafter reaches the age when he/she would have had thirty (30) years' service. Persons receiving the non-duty disability benefit shall be required to report to the Board of Trustees at intervals when requested by the Board of Trustees and give full details with reference to their employment or earnings. Any such person failing to make satisfactory reports or found to have knowingly made a false report shall forfeit all future benefits hereunder.
[Ord. No. 5005 §1, 10-16-2006]
A. 
Once each year following the retirement of an employee of the Police or Fire Department on a disability retirement allowance, whether duty caused or other than duty caused, the Board of Trustees may require all such former employees who have not attained thirty (30) years of service to undergo a medical examination.
B. 
If two (2) or more of the doctors selected by the Board of Trustees shall certify to the Board of Trustees that in their opinion the disability of the former employee has terminated, the Board of Trustees shall cancel the disability retirement allowance.
C. 
If any disability beneficiary who has not completed his/her thirty (30) years' service refuses to submit to the examination, his/her pension allowance shall be withheld until the withdrawal of such refusal. If his/her refusal continues over one (1) year, all rights in and to his/her retirement, including his/her disability retirement allowance, shall be canceled by the Board of Trustees.
[Ord. No. 5005 §1, 10-16-2006]
If a disability beneficiary who has not completed thirty (30) years of service is found able to carry out the performance of his/her duties and is restored to active service by action of the City Manager, his/her allowance shall cease and he/she shall contribute thereafter at the same rate he/she paid prior to his/her disability and upon his/her subsequent retirement, he/she shall be credited with all his/her service as a member.
[Ord. No. 5005 §1, 10-16-2006]
A. 
The Medical Board shall consist of three (3) doctors appointed by the Board of Trustees.
B. 
The Board of Trustees, in its discretion, may require an examination by specialists when medically indicated and may rely on the opinion of such specialists.
C. 
Examination funds shall be supplied by the Board of Trustees out of the Fund. The Medical Board and specialists shall receive for each examination a sum to be approved by the Board of Trustees.
D. 
In the event that one (1) or more members of the Medical Board cannot serve, the Trustees shall have the right to name additional medical doctors to serve for such examination.
[Ord. No. 5005 §1, 10-16-2006]
A. 
In the event of the death of an employee of the Police or Fire Department from injuries received while on duty, surviving spouse benefits shall be fifty percent (50%) of the retirement base pay plus five percent (5%) of the retirement base pay for each living child who has not attained the age of twenty (20) years.
B. 
If the death of an employee of the Police or Fire Department is caused by other than injuries received while on duty, before or after retirement, the surviving spouse benefits shall be twenty-five percent (25%) of the retirement base pay plus five percent (5%) of the retirement base pay for each living child who has not attained the age of twenty (20) years. Total death payments payable under this Subsection (B) shall not exceed fifty percent (50%) of the retirement base pay.
C. 
The Board of Trustees shall determine whether a death results from injuries received while on duty and its decision shall be final and conclusive.
D. 
If there is no surviving spouse or the surviving spouse dies or remarries, the monthly payment provided for a surviving spouse shall be divided equally among the living children of the member who are under the age of twenty (20) years at the time of the division. Each child shall receive his/her share of such division monthly until he/she dies or attains the age of twenty (20) years. If the dependents are receiving other compensation payments from the City, the amount of such payments shall be deducted from their benefits under this Section. Upon the death or twentieth (20th) birthday of any child of the member, whichever occurs first, the benefits of this Section shall pass to any remaining children under the age of twenty (20) years in equal shares, but the benefits of this Subsection (D) shall be reduced and offset by the five percent (5%) child benefit provided by Subsection (A) or Subsection (B) attributable to such child.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5162 §1, 1-18-2011]
A. 
If an active and working employee of the Police or Fire Department dies, or if a retired employee of the Police or Fire Department dies, the surviving spouse shall be paid, in addition to the payments which may be authorized by any other Section of this Article, a lump sum death benefit in the amount of five thousand dollars ($5,000.00). Notwithstanding the foregoing, if an employee of the Police or Fire Department who retired prior to the effective date of this Section dies, the surviving spouse shall be paid, in addition to the payments which may be authorized by any other Section of this Article, a lump sum death benefit in the amount of one thousand dollars ($1,000.00).
B. 
If there is no surviving spouse or if the surviving spouse dies before any such payment can be made, the lump sum death benefit shall be divided equally among the surviving children of such employee.
C. 
In the event any such employee dies leaving no surviving spouse nor survived by any children, the lump sum death benefit shall be paid to such person as may be designated in writing by the employee. If the employee has failed to designate a recipient of the lump sum death benefit in writing or the designated recipient dies before payment can be made, the lump sum death benefit shall be paid to the employee's estate.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5274 §1, 1-5-2015]
A. 
Any active and working employee of the Police or Fire Department leaving the service voluntarily or involuntarily prior to fifteen (15) years of service shall be paid out of the fund, on demand, the amount of his/her personal contribution to the Fund, with interest calculated at the rate of five percent (5%) per annum during the years of his/her employment and zero percent (0%) per annum after his/her termination.
B. 
An employee of the Police or Fire Department who was hired prior to the effective date of this Article who leaves the service voluntarily or involuntarily prior to fifteen (15) years of service shall be paid out of the Fund, on demand, the amount of his/her personal contribution to the Fund, with interest calculated at the rate of five percent (5%) per annum.
[Ord. No. 5005 §1, 10-16-2006]
A. 
If at any time a member shall be eligible to receive full social security benefits or is actually receiving social security benefits as provided by the laws of the United States, the Board of Trustees shall reduce and offset the monthly pension/retirement benefits provided by the plan by an amount equal to fifty percent (50%) of said social security benefits. Said offset shall not include any subsequent increases in social security benefits calculated thereafter.
B. 
The total amounts received by any beneficiary from the Fund and social security (exclusive of social security surviving spouse or social security children's benefits) shall not exceed the sum of benefits provided by the Fund plus fifty percent (50%) of the social security benefits.
C. 
All of the foregoing amendments regarding calculation of pension and retirement benefits subject to social security offsets are substantive and shall apply prospectively only. Said changes shall apply only to employees in active service on July 3, 2000 and those who initially apply for retirement and pension benefits on or after July 3, 2000.
[Ord. No. 5005 §1, 10-16-2006]
A. 
If a member who qualifies under the provision of Subsection (B) hereafter shall be eligible to receive full social security benefits or is actually receiving social security benefits under the laws of the United States, the Board of Trustees shall not apply any reduction or offset of social security benefits to the monthly pension/retirement benefits as provided for by the plan.
B. 
All of the foregoing amendments regarding calculation of pension and retirement benefits in relation to social security benefits are substantive and shall apply prospectively only. Said changes shall apply only to employees in active service on May 8, 2003 and who initially apply for retirement and pension benefits on or after May 8, 2003.
[Ord. No. 5005 §1, 10-16-2006]
If at any time an employee of either the Police or Fire Department becomes eligible to receive the benefits of Workers' Compensation insurance of the City, the Board of Trustees shall reduce the benefit payments provided by this Article so that the total amount received by any beneficiary from the Fund and Workers' Compensation benefits shall not exceed the amount of benefits provided herein.
[Ord. No. 5005 §1, 10-16-2006]
Any person who knowingly or willfully makes any false statement in regard to applying for or securing a pension under this Policemen and Firemen Retirement Plan or who falsifies or permits to be falsified any record or records of such fund, upon conviction thereof shall be subject to a fine of not less than five hundred dollars ($500.00) nor more than one thousand dollars ($1,000.00). He/she shall also be subject to having all his/her rights, interests and privileges under and by virtue of this plan revoked and canceled by the Board of Trustees.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5096 §1, 2-17-2009]
A. 
Annual Benefit.
1. 
Effective date. The limitations of this Section 200.460 apply in "limitation years" beginning on or after July 1, 2007, except as otherwise provided herein.
2. 
Annual benefit. The "annual benefit" otherwise payable to a participant under this Article III at any time shall not exceed the "maximum permissible benefit".
3. 
Other rules applicable. The limitations of this Section 200.460 shall be determined and applied taking into account the rules in Subsection (C).
B. 
Definitions. For purposes of this Section 200.460, the following definitions apply.
ANNUAL BENEFIT
A benefit that is payable annually in the form of a "straight life annuity". Except as provided below, where a benefit is payable in a form other than a "straight life annuity", the benefit shall be adjusted to an actuarially equivalent "straight life annuity" that begins at the same time as such other form of benefit and is payable on the first (1st) day of each month, before applying the limitations of this Section 200.460. For a participant who has or will have distributions commencing at more than one (1) annuity starting date, the "annual benefit" shall be determined as of each such annuity starting date (and shall satisfy the limitations of this Section 200.460 as of each such date), actuarially adjusting for past and future distributions of benefits commencing at the other annuity starting dates. For this purpose, the determination of whether a new annuity starting date has occurred shall be made without regard to U.S. Treasury Regulations Section 1.401(a)-20, Q&A 10(d), and with regard to U.S. Treasury Regulations Section 1.415(b)1(b) (1)(iii)(B) and (C).
No actuarial adjustment to the benefit shall be made for:
1. 
Survivor benefits payable to a surviving spouse under a qualified joint and survivor annuity to the extent such benefits would not be payable if the participant's benefit were paid in another form;
2. 
Benefits that are not directly related to retirement benefits (such as a qualified disability benefit, pre-retirement incidental death benefits, and post-retirement medical benefits); or
3. 
The inclusion in the form of benefit of an automatic benefit increase feature, provided the form of benefit is not subject to Code Section 417(e)(3) and would otherwise satisfy the limitations of this Section 200.460, and this Article III provides that the amount payable under the form of benefit in any "limitation year" shall not exceed the limits of this Section 200.460 applicable at the annuity starting date, as increased in subsequent years pursuant to Code Section 415(d). For this purpose, an automatic benefit increase feature is included in a form of benefit if the form of benefit provides for automatic, periodic increases to the benefits paid in that form.
The determination of the "annual benefit" shall take into account Social Security supplements described in Code Section 411(a)(9). Effective for distributions in plan years beginning after December 31, 2003, the determination of actuarial equivalence of forms of benefit other than a "straight life annuity" shall be made in accordance with the following: The "straight life annuity" that is actuarially equivalent to the participant's form of benefit shall be determined hereunder if the form of the participant's benefit is either:
1.
A non-decreasing annuity (other than a "straight life annuity") payable for a period of not less than the life of the participant (or, in the case of a qualified pre-retirement survivor annuity, the life of the surviving spouse), or
2.
An annuity that decreases during the life of the participant merely because of:
a.
The death of the survivor annuitant (but only if the reduction is not below fifty percent (50%) of the benefit payable before the death of the survivor annuitant), or
b.
The cessation or reduction of Social Security supplements or qualified disability payments (as defined in Code Section 401(a)(11)).
(1)
"Limitation years" beginning before July 1, 2007. For "limitation years" beginning before July 1, 2007, the actuarially equivalent "straight life annuity" is equal to the annual amount of the "straight life annuity" commencing at the same annuity starting date that has the same actuarial present value as the participant's form of benefit computed using whichever of the following produces the greater annual amount:
(a)
The interest rate and mortality table (or other tabular factor) used by this Article III for adjusting benefits in the same form; and
(b)
Five percent (5%) interest rate assumption and the applicable mortality table as established by the Secretary of the Treasury for that annuity starting date.
(2)
"Limitation Years" beginning on or after July 1, 2007. For "limitation years" beginning on or after July 1, 2007, the actuarially equivalent "straight life annuity" is equal to the greater of:
(a)
The annual amount of the "straight life annuity" (if any) payable to the participant under this Article III commencing at the same annuity starting date as the participant's form of benefit; and
(b)
The annual amount of the "straight life annuity" commencing at the same annuity starting date that has the same actuarial present value as the participant's form of benefit, computed using a five percent (5%) interest rate assumption and the applicable mortality table as established by the Secretary of the Treasury for that annuity starting date.
COMPENSATION OR 415 COMPENSATION
For purposes of this Section 200.460, shall mean those items specified in U.S. Treasury Regulation Section 1.415(c)-2(b)(1) and (d)(2), which is the participant's earned income, wages, salaries, fees for professional services and other amounts received for personal services actually rendered in the course of employment with the City (including, but not limited to, commissions, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips and bonuses and amounts contributed under Code Sections 125, 402(g), 132(f) or 457(b). Compensation for purposes of this Section 200.460 is also subject to the following adjustments for limitation years beginning on and after July 1, 2007:
1. 
415 Compensation paid after "severance from employment". 415 Compensation shall be adjusted, as set forth herein, for the following types of compensation paid after a employee's "severance from employment" with the City. However, amounts described in Subsections (a), (b) and (c) below may only be included in 415 Compensation to the extent such amounts are paid by the later of two and one-half (2½) months after "severance from employment" or by the end of the "limitation year" that includes the date of such "severance from employment". Any other payment of compensation paid after "severance from employment" that is not described in the following types of compensation is not considered 415 Compensation within the meaning of Code Section 415(c)(3), even if payment is made within the time period specified above.
a. 
Regular pay. 415 Compensation shall include regular pay after "severance from employment" if:
(1) 
The payment is regular compensation for services during the participant's regular working hours, or compensation for services outside the participant's regular working hours (such as overtime or shift differential), commissions, bonuses or other similar payments; and
(2) 
The payment would have been paid to the participant prior to a "severance from employment" if the participant had continued in employment with the City.
b. 
Leave cashouts. Leave cashouts shall be included in 415 Compensation if those amounts would have been included in the definition of 415 Compensation if they were paid prior to the participant's "severance from employment", and the amounts are payment for unused accrued bona fide sick, vacation or other leave, but only if the participant would have been able to use the leave if employment had continued.
c. 
Deferred compensation. 415 Compensation will include deferred compensation if the compensation would have been included in the definition of 415 Compensation if it had been paid prior to the participant's "severance from employment", and the compensation is received pursuant to a non-qualified unfunded deferred compensation plan, but only if the payment would have been paid at the same time if the participant had continued in employment with the City and only to the extent that the payment is includible in the participant's gross income.
d. 
Salary continuation payments for military service participants. 415 Compensation does not include payments to an individual who does not currently perform services for the City by reason of qualified military service (as that term is used in Code Section 414(u)(1)) to the extent those payments do not exceed the amounts the individual would have received if the individual had continued to perform services for the City rather than entering qualified military service.
e. 
Salary continuation payments for disabled participants. 415 Compensation does not include compensation paid to a participant who is permanently and totally disabled (as defined in Code Section 22(e)(3)).
2. 
Administrative delay ("the first few weeks") rule. 415 Compensation for a "limitation year" shall include amounts earned but not paid during the "limitation year" solely because of the timing of pay periods and pay dates, provided the amounts are paid during the first (1st) few weeks of the next "limitation year", the amounts are included on a uniform and consistent basis with respect to all similarly situated participants and no compensation is included in more than one (1) "limitation year".
3. 
Back pay. Payments awarded by an administrative agency or court or pursuant to a bona fide agreement by the City to compensate an employee for lost wages are 415 Compensation for the "limitation year" to which the back pay relates, but only to the extent such payments represent wages and compensation that would otherwise be included in 415 Compensation under this amendment.
DEFINED BENEFIT DOLLAR LIMITATION
Effective for "limitation years" ending after December 31, 2001, one hundred sixty thousand dollars ($160,000.00), automatically adjusted under Code Section 415(d), effective January first (1st) of each year, as published in the Internal Revenue Bulletin, and payable in the form of a "straight life annuity". The new limitation shall apply to "limitation years" ending with or within the calendar year of the date of the adjustment, but a participant's benefits shall not reflect the adjusted limit prior to January first (1st) of that calendar year.
LIMITATION YEAR
The calendar year or such other period specified in this Article III that is used to apply the Code Section 415 limitations. The "limitation year" may only be changed by an amendment to this Article III. Furthermore, if the retirement benefit program provided under this Article III is terminated effective as of a date other than the last day of its "limitation year", then this Article III is treated as if it had been amended to change its "limitation year".
MAXIMUM PERMISSIBLE BENEFIT
The "defined benefit dollar limitation" (adjusted where required, as provided below).
1. 
Adjustment for less than ten (10) years of participation or service. If the participant has less than ten (10) years of participation in the retirement benefit program under this Article III, the "defined benefit dollar limitation" shall be multiplied by a fraction:
a. 
The numerator of which is the number of "years of participation" in the retirement benefit program provided under this Article III (or part thereof, but not less than one (1) year), and
b. 
The denominator of which is ten (10).
2. 
Adjustment of "defined benefit dollar limitation" for benefit commencement before age sixty-two (62) or after age sixty-five (65). Effective for benefits commencing in "limitation years" ending after December 31, 2001, the "defined benefit dollar limitation" shall be adjusted if the annuity starting date of the participant's benefit is before age sixty-two (62) or after age sixty-five (65). If the annuity starting date is before age sixty-two (62), the "defined benefit dollar limitation" shall be adjusted under paragraph (2)(a) of this definition below, as modified by paragraph (2)(c) of this definition. If the annuity starting date is after age sixty-five (65), the "defined benefit dollar limitation" shall be adjusted under paragraph (2)(b) below, as modified by paragraph (2)(c) below of this definition.
a. 
Adjustment of "defined benefit dollar limitation" for benefit commencement before age sixty-two (62).
(1) 
"Limitation years" beginning before July 1, 2007. If the annuity starting date for the participant's benefit is prior to age sixty-two (62) and occurs in a "limitation year" beginning before July 1, 2007, the "defined benefit dollar limitation" for the participant's annuity starting date is the annual amount of a benefit payable in the form of a "straight life annuity" commencing at the participant's annuity starting date that is the actuarial equivalent of the "defined benefit dollar limitation" (adjusted under paragraph (1) of this definition for years of participation less than ten (10), if required) with actuarial equivalence computed using whichever of the following produces the smaller annual amount:
(a) 
The interest rate and mortality table (or other tabular factor) used by this Article III; or
(b) 
A five percent (5%) interest rate assumption and the applicable mortality table as established by the Secretary of the Treasury.
(2) 
"Limitation years" beginning on or after July 1, 2007.
(a) 
If benefits are not payable as an immediately commencing "straight life annuity" payable at both age sixty-two (62) and the age of benefit commencement. If the annuity starting date for the participant's benefit is prior to age sixty-two (62) and occurs in a "limitation year" beginning on or after July 1, 2007 and this Article III does not provide an immediately commencing "straight life annuity" payable at both age sixty-two (62) and the age of benefit commencement, the "defined benefit dollar limitation" for the participant's annuity starting date is the annual amount of a benefit payable in the form of a "straight life annuity" commencing at the participant's annuity starting date that is the actuarial equivalent of the "defined benefit dollar limitation" (adjusted under paragraph (1) of this definition for years of participation less than ten (10), if required) with actuarial equivalence computed using a five percent (5%) interest rate assumption and the applicable mortality table as established by the Secretary of the Treasury for the annuity starting date (and expressing the participant's age based on completed calendar months as of the annuity starting date).
(b) 
If benefits are payable as an immediately commencing "straight life annuity" payable at both age sixty-two (62) and the age of benefit commencement. If the annuity starting date for the participant's benefit is prior to age sixty-two (62) and occurs in a "limitation year" beginning on or after July 1, 2007, and this Article III provides an immediately commencing "straight life annuity" payable at both age sixty-two (62) and the age of benefit commencement, the "defined benefit dollar limitation" for the participant's annuity starting date is the lesser of the limitation determined under paragraph (2)(a)(2)(a) of this definition and the "defined benefit dollar limitation" (adjusted under paragraph (2)(a)(2)(a) of this definition for years of participation less than ten (10), if required) multiplied by the ratio of the annual amount of the immediately commencing "straight life annuity" under this Article III at the participant's annuity starting date to the annual amount of the immediately commencing "straight life annuity" under this Article III at age sixty-two (62), both determined without applying the limitations of this Section 200.460.
b. 
Adjustment of "defined benefit dollar limitation" for benefit commencement after age sixty-five (65).
(1) 
"Limitation years" beginning before July 1, 2007. If the annuity starting date for the participant's benefit is after age sixty-five (65) and occurs in a limitation year beginning before July 1, 2007, the "defined benefit dollar limitation" for the participant's annuity starting date is the annual amount of a benefit payable in the form of a "straight life annuity" commencing at the participant's annuity starting date that is the actuarial equivalent of the "defined benefit dollar limitation" (adjusted under paragraph (1) of this definition for years of participation less than ten (10), if required) with actuarial equivalence computed using whichever of the following produces the smaller annual amount:
(a) 
The interest rate and mortality table (or other tabular factor) used by this Article III; or
(b) 
Five percent (5%) interest rate assumption and the applicable mortality table as established by the Secretary of the Treasury.
(2) 
"Limitation years" beginning on or after July 1, 2007.
(a) 
Benefits are not payable as an immediately commencing "straight life annuity" payable at both age sixty-five (65) and the age of benefit commencement. If the annuity starting date for the participant's benefit is after age sixty-five (65) and occurs in a "limitation year" beginning on or after July 1, 2007, and this Article III does not provide an immediately commencing "straight life annuity" payable at both age sixty-five (65) and the age of benefit commencement, the "defined benefit dollar limitation" at the participant's annuity starting date is the annual amount of a benefit payable in the form of a "straight life annuity" commencing at the participant's annuity starting date that is the actuarial equivalent of the "defined benefit dollar limitation" (adjusted under paragraph (1) of this definition for years of participation less than ten (10), if required), with actuarial equivalence computed using a five percent (5%) interest rate assumption and the applicable mortality table as established by the Treasury for that annuity starting date (and expressing the participant's age based on completed calendar months as of the annuity starting date).
(b) 
If benefits are payable as an immediately commencing "straight life annuity" payable at both age sixty-five (65) and the age of benefit commencement. If the annuity starting date for the participant's benefit is after age sixty-five (65) and occurs in a "limitation year" beginning on or after July 1, 2007, and this Article III provides an immediately commencing "straight life annuity" payable at both age sixty-five (65) and the age of benefit commencement, the "defined benefit dollar limitation" at the participant's annuity starting date is the lesser of the limitation determined under paragraph (2)(b)(2)(a) of this definition and the "defined benefit dollar limitation" (adjusted under paragraph (1) of this definition for years of participation less than ten (10), if required) multiplied by the ratio of the annual amount of the adjusted immediately commencing "straight life annuity" under this Article III at the participant's annuity starting date to the annual amount of the adjusted immediately commencing "straight life annuity" under this Article III at age sixty-five (65), both determined without applying the limitations of this Section 200.460. For this purpose, the adjusted immediately commencing "straight life annuity" under this Article III at the participant's annuity starting date is the annual amount of such annuity payable to the participant, computed disregarding the participant's accruals after age sixty-five (65) but including actuarial adjustments even if those actuarial adjustments are used to offset accruals; and the adjusted immediately commencing "straight life annuity" under this Article III at age sixty-five (65) is the annual amount of such annuity that would be payable under this Article III to a hypothetical participant who is age sixty-five (65) and has the same accrued benefit as the participant.
c. 
Notwithstanding the other requirements of this definition, no adjustment shall be made to the "defined benefit dollar limitation" to reflect the probability of a participant's death between the annuity starting date and age sixty-two (62), or between age sixty-five (65) and the annuity starting date, as applicable, if benefits are not forfeited upon the death of the participant prior to the annuity starting date. To the extent benefits are forfeited upon death before the annuity starting date, such an adjustment shall be made. For this purpose, no forfeiture shall be treated as occurring upon the participant's death if this Article III does not charge participants for providing a qualified pre-retirement survivor annuity, as defined in Code Section 417(c), upon the participant's death.
3. 
Minimum benefit permitted. Notwithstanding anything else in this Section 200.460 to the contrary, the benefit otherwise payable to a participant under this Article III shall be deemed not to exceed the "maximum permissible benefit" if:
a. 
The retirement benefits payable for a "limitation year" under any form of benefit with respect to such participant under this Article III and under all other defined benefit plans (without regard to whether a plan has been terminated) ever maintained by the City do not exceed ten thousand dollars ($10,000.00) multiplied by a fraction:
(1) 
The numerator of which is the participant's number of years (or part thereof, but not less than one (1) year) of service (not to exceed ten (10)) with the City, and
(2) 
The denominator of which is ten (10); and the City has not at any time maintained a defined contribution plan in which the participant participated (for this purpose, mandatory employee contributions under a defined benefit plan, individual medical accounts under Code Section 401(h) and accounts for post-retirement medical benefits established under Code Section 419A(d)(1) are not considered a separate defined contribution plan).
b. 
For plan years beginning after December 31, 1996, the adjustments in the Code Section 415 limits shall not apply in the case of a qualified participant as defined in Code Section 415(b)(2)(H).
c. 
For an employee who commenced participation in the retirement benefit program provided under this Article III before January 1, 1990, the maximum defined benefit limitations shall not be less than the accrued benefit of the employee under this Article III determined without regard to any amendment of this Article III made after October 14, 1987.
d. 
The foregoing adjustments will not apply to benefits received as a result of the recipient retiring before age sixty-two (62) or having less than ten (10) years of participation as a result of becoming disabled because of personal injuries or sickness. Nor will the adjustments apply to amounts received under this Article III by the beneficiaries, survivors or the estate of such an employee as a result of the death of the employee.
SEVERANCE FROM EMPLOYMENT
With respect to any individual, cessation from being an employee. An employee does not have a "severance from employment" if, in connection with a change of employment, the employee's new employer maintains the retirement benefit program provided under this Article III with respect to the employee.
STRAIGHT LIFE ANNUITY
An annuity payable in equal installments for the life of a participant that terminates upon the participant's death.
YEAR OF PARTICIPATION
With respect to a participant, each annual accrual computation period (computed to fractional parts of a year) for which an individual's employment by the City as an employee continues chronologically without interruption. Permissible interruptions for service in the Armed Forces of the United States, or under the sick leave or vacation plan of the City, or by leave of the City, or as otherwise permitted by this Article III shall not be deemed to interrupt or break a year of participation.
C. 
Other Rules.
1. 
Special rules. The limitations of this Section 200.460 shall be determined and applied taking into account the aggregation rules including those in U.S. Treasury Regulations Section 1.415(f) — 1(d), (e) and (h). To the extent required, the defined contribution limitations of Code Section 415 and the regulations thereunder apply to this Article III.
2. 
Construction of Section. Section 200.460 shall be construed in a manner which satisfies the requirements imposed by Internal Revenue Code Section 415, but shall not impose limitations which are more stringent than those required by Code Section 415.
[Ord. No. 5005 §1, 10-16-2006; Ord. No. 5174 §1, 6-20-2011]
A. 
Notwithstanding any provision of the plan to the contrary that would otherwise limit a distribution, a distributee may elect, at the time and in the manner prescribed by the Board of Trustees, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.
1. 
An eligible rollover distribution is 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: 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 (10) years or more; any distribution to the extent such distribution is required under Internal Revenue Code Section 401(a)(9); and 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).
2. 
An eligible retirement plan is an individual retirement account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plan described in Code Section 403(a) or a qualified trust described in Code Section 401(a), that accepts the distributee's eligible rollover distribution. The definition of eligible retirement plan shall also apply in the case of a distribution to a surviving spouse or to a spouse or former spouse who is the alternate payee under a qualified domestic relations order as defined in Code Section 414(p).
Effective for distributions made after December 31, 2001, an eligible retirement plan shall also mean an annuity contract described in Code Section 403(b) and an eligible plan under Code Section 457(b) 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 such plan from the pension system. The definition of eligible retirement plan shall also apply in the case of a distribution to a surviving spouse or to a spouse or former spouse who is the alternate payee under a qualified domestic relations order as defined in Code Section 414(p).
3. 
A distributee includes an employee or former employee. In addition, to the extent applicable to the plan, the employee's or former employee's surviving spouse and the employee's or former employee's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p), are distributees with regard to the interest of the spouse or former spouse.
4. 
A direct rollover is a payment by the pension system to the eligible retirement plan specified by the distributee.
5. 
For distributions beginning January 1, 2010, a non-spouse beneficiary who is a designated beneficiary under Code Section 401(a)(9)(E) and regulations thereunder, by a direct rollover, may roll over all or any portion of his or her distribution to an individual retirement account described in Code Section 408, that the beneficiary establishes for purposes of receiving the distribution. In order to roll over the distribution, the distribution otherwise must satisfy the definition of eligible rollover distribution under Code Section 401(a)(31). A non-spouse beneficiary may not roll over an amount that is a required minimum distribution under Code Section 401(a)(9).
6. 
Nothing in this Section shall have the effect of creating any lump sum distribution rights not otherwise provided for in the plan.
[Ord. No. 5005 §1, 10-16-2006]
Upon termination of the plan or complete discontinuance of contributions to the plan, the accrued benefit of each member as of the date of such termination, to the extent funded, shall be non-forfeitable.
[Ord. No. 5005 §1, 10-16-2006]
Forfeitures of benefits by any member or beneficiary shall not be applied to increase the benefits any employee would otherwise receive under the plan.
[Ord. No. 5174 §1, 6-20-2011]
A. 
Death Benefits. In the case of a death or disability occurring on or after January 1, 2007, if a plan participant dies while performing Qualified Military Service as defined in the Uniformed Services Employment and Reemployment Rights Act of 1994 ("USERRA"), the participant's beneficiary, as provided by the plan, is entitled to any additional benefits (other than benefit accruals relating to the period of Qualified Military Service) provided under the plan as if the participant had resumed and then terminated employment on account of death. Moreover, the plan will credit the participant's Qualified Military Service for vesting purposes, as though the participant had resumed employment under USERRA immediately prior to the participant's death.
B. 
Differential Wage Payments. For years beginning after December 31, 2008, (i) an individual receiving a differential wage payment, as defined by Internal Revenue Code Section 3401(h)(2), shall be treated as an employee of the employer making the payment; (ii) The differential wage payment shall be treated as compensation for purposes of Code Section 415(c)(3) and Treas. Reg. Section 1.415(c)-2; and (iii) the plan shall not be treated as failing to meet the requirements of any provision described in Code Section 414(u)(1)(C) by reason of any contribution or benefit which is based on the differential wage payment. Differential wage payments (as described herein) will also be considered compensation for all plan purposes. Subsection (iii) applies only if all employees of the City performing service in the uniformed services described in Code Section 3401(h)(2)(A) are entitled to receive differential wage payments (as defined in Code Section 3401(h)(2)) on reasonably equivalent terms and, if eligible to participate in a retirement plan maintained by the City, to make contributions or receive benefits based on the payments on reasonably equivalent terms (taking into account Code Sections 410(b)(3), (4), and (5)).