[Code § 18 1/2-1]
Article I shall hereafter be known and cited as Article I, Appendix Chapter
F of the Kirkwood Code of Ordinances, Ordinance No. 5407, General Ordinances of the City of Kirkwood, Missouri, "City of Kirkwood Employees' Pension Plan."
[Code § 18 1/2-2]
Whenever used herein, unless the context clearly indicates otherwise:
(a) ACCOUNT
(whether or not the word is capitalized) — All of
the following, but if there are not all shall mean whichever exists:
(1) The current account required to be established and maintained in
accordance with the provisions of § F-106(b)(1);
(2) The retirement plan account required to be established and maintained
for a participant in accordance with § F-106(b)(2).
(b) BENEFICIARY — Any
person or persons (including, but not limited to, an estate, an executor,
administrator or fiduciary, corporate or otherwise) designated pursuant
to § F-108(i) to receive any undistributed account balance
distributable hereunder on account of the death of such participant
or former participant. To the extent that a participant or former
participant has not named a beneficiary at the time of his or her
death; the original copy of the beneficiary designation of the participant
or former participant cannot be located; or the designated beneficiary
and contingent designated beneficiary or beneficiaries is or are deceased
or cannot be located, the participant's or former participant's
beneficiary shall be his or her surviving spouse at the time of the
participant's or former participant's death. If such participant
or former participant does not have a surviving spouse at his or her
death, the participant's or former participant's children
(natural and adopted) surviving at his or her death shall be the beneficiary
or beneficiaries, and shall be entitled to payment of the participant's
or former participant's undistributed account balance in equal
shares without the application of any antilapse statute. If the participant
or former participant does not have surviving children at his or her
death, the participant's or former participant's estate
shall be his or her beneficiary. When used with respect to maintenance
of an account for a beneficiary and adjustments to be made therein,
the term beneficiary shall mean a beneficiary who is currently entitled
to payment of a benefit under the plan.
(c) BOARD or BOARD OF TRUSTEES — The Board of Trustees appointed pursuant to §
F-102 hereof.
(d) CITY — The
City of Kirkwood or the officer or officers of the City to whom the
City Council may delegate any of its rights, duties or powers hereunder.
(e) CITY
COUNCIL — The City Council of the City.
(f) CODE — The
Internal Revenue Code of 1986, as amended.
(g) COMPENSATION —
(1) The total of all remuneration paid by the City to an employee during
the period he or she is a participant in the plan, and received by
a participant as workers' compensation, other than a lump sum payment
of workers' compensation. "Compensation" shall include salary, bonuses,
wages overtime payments, or other regular remuneration, educational
incentive pay, all amounts deferred under any plan of deferred compensation
maintained by the City, and all amounts contributed by the City, pursuant
to a salary reduction agreement, to a plan which satisfies the requirements
of Section 125 or Section 132(f) of the code, but excludes expenses
paid or reimbursed, food allowances, clothing allowance, tuition reimbursement
payments, the imputed value of life insurance, automobile usage, and
all contributions made under this plan and any other plan maintained
by the City which satisfies the requirements of Section 401 of the
code or any other statute of similar import.
(2) In order to be taken into account for purposes of this section, compensation
generally must be paid or treated as paid to the employee before the
severance from employment of the employee. However, compensation paid
by the later of 2 1/2 months after the severance from employment
of an employee or the end of the limitation year that includes the
date of severance from employment of the employee shall be treated
as compensation to the extent such amounts are compensation for services
rendered that would have been paid absent a severance from employment,
payments of accrued vacation or other leave the employee would have
been able to use if employment had continued, or payments of unfunded
nonqualified compensation that would have been paid at the same time
if the employee had continued in employment.
(3) The compensation of each participant taken into account for determining
all benefits provided under the plan for any plan year shall not exceed
$200,000, as adjusted for increases in the cost-of-living in accordance
with Section 401(a)(17)(B) of the code. The cost-of-living adjustment
in effect for a calendar year applies to any determination period
beginning in such calendar year. If a determination period consists
of fewer than 12 months, the annual compensation limit is an amount
equal to the otherwise applicable annual compensation limit multiplied
by a fraction, the numerator of which is the number of months in the
short determination period, and the denominator of which is 12. If
compensation for any prior determination period is taken into account
in determining a participant's allocations for the current plan
year, the compensation for such prior determination period is subject
to the applicable annual compensation limit in effect for the prior
period. Effective January 1, 2009, compensation shall not include
differential wage payments.
(h) DIFFERENTIAL
WAGE PAYMENTS — Payments which are made by the City
to a person with respect to any period during which the person is
performing military service, while on active duty for a period of
more than 30 days, which represents all or a portion of the wages
the person would have received from the City if the individual was
performing service for the City.
(i) EMPLOYEE — Any
person who is employed by the City (or, effective January 1, 2009,
a person who receives differential wage payments), except any elected
or appointed official who is not an employee of the City; commissioned,
salaried police officers and salaried firefighters of the police and
fire departments of the City; seasonal employees whose customary employment
is for less than a consecutive five-month period in a plan year; any
person whose customary employment is for less than 20 hours per week;,
and library associates, ice rink guards, cashiers, and ice rink shift
managers.
(j) FORMER
PARTICIPANT — A person who shall have been a participant
but whose employment with the City shall have terminated, or is deemed
to have terminated pursuant to the provisions hereof, and to whom
or to whose beneficiary there shall not have been distributed the
aggregate amount of benefits to which such participant or his or her
beneficiary is entitled under the plan.
(k) FUND — The
res or corpus and all earnings, appreciation or additions thereon
and thereto held by the Board of Trustees, including those funds accumulated
under the prior plans, and shall be designated the "City of Kirkwood
Employees' Retirement Fund."
(l) FUND CUSTODIAN or CUSTODIAN — The person or persons appointed as custodian of the fund pursuant to §
F-111 hereof.
(m) HOUR
OF SERVICE:
(1) HOUR OF SERVICE — Each hour for which (a) an employee is paid, or entitled to payment, by the City for the performance of duties during the applicable computation period, and the hour of service shall be credited to the period in which the duties are performed, (b) an employee is paid, or entitled to such payment, by the City on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military leave or leave of absence and the hour of service shall be credited to the period in which the period during which no duties are performed occurs, (c) back pay, irrespective of mitigation of damages, has been either awarded or agreed to by the City and the hour of service shall be credited to the period to which the award or agreement pertains, and (d) an employee would have been paid or entitled to payment under (a) above assuming that (i) he or she had not been on an authorized leave of absence (in accordance with the provisions of §
F-104), and (ii) but for the authorized leave of absence would have been regularly engaged in the performance of his or her duties and the hour of service shall be credited to the period he or she would have been regularly engaged in the performance of his or her duties had he or she not been on authorized leave of absence; provided, however, that in no event shall an hour of service be credited to an employee under more than one of the applicable subsections (a), (b), (c) or (d) above. The number of hour of service to be credited under (b) above shall be in accordance with the requirements of 29 CFR 2530.200b-2(b) as such regulations may be amended or superseded from time to time and such regulations are incorporated herein by reference.
(2) The definition of "hour of service" as provided in this section shall
be construed so as to resolve any ambiguities in favor of crediting
employees with hours of service.
(n) INVESTMENT
MANAGER — A person, firm or corporation appointed
by the Board to manage (including the power to acquire or dispose
of) all or one or more portions of the fund, which person, firm or
corporation shall:
(1) Be registered as an investment adviser under the Investment Advisers
Act of 1940; or a bank as defined in the Investment Advisers Act of
1940; or an insurance company qualified to manage (including the power
to acquire or dispose of) all or one or more portions of the fund
under the laws of more than one state; and
(2) Acknowledge in writing to the City that he, she or it is a fiduciary
with respect to the plan.
(o) LATE
RETIREMENT DATE — The first day of the calendar month
following a participant's termination of employment after his
or her normal retirement date.
(p) MILITARY
SERVICE — Effective as of January 1, 2007, any service
in the uniformed services (as defined in Chapter 43 of Title 38 of
the United States Code) by any person if such person is entitled to
reemployment rights under such chapter with respect to such service.
(q) NORMAL
RETIREMENT DATE — The first day of the calendar month
during which a participant attains 65 years of age.
(r) PARTICIPANT — A person who becomes and remains a participant under §
F-103 hereof.
(s) PERIOD
OF ELIGIBILITY SERVICE — A consecutive six-month period
computed with reference to the date on which the employee's employment
commenced with the City, or semiannual anniversaries thereof, during
which the employee completed not less than 500 hours of service. If
the status of an employee within the meaning of § F-201(i)
changes to that of an employee within the meaning of § F-201(i)
before such individual becomes eligible to participate in the City
of Kirkwood Police Officers' and Firefighters' Pension Plan,
such individual's service as an employee within the meaning of
§ F-201(i) shall be treated as service as an employee within
the meaning of § F-201(i) for purposes of this definition.
(t) PERMANENT
DISABILITY or PERMANENTLY DISABLED — Such physical
and mental disability as determined by the disability insurance carrier
as provided for herein. "Permanent disability" shall exclude any ailment
or condition resulting from an employee's engagement in the commission
of a felony, from an employee's habitual use of drugs, intoxicants
or narcotics, from an employee's deliberately, self-inflicted
injury or self-induced illness, and from any injury received or disease
contracted in military service or in the armed forces of any other
country or of any private paramilitary organization, and any other
exclusions and limitations provided for by such insurance.
(u) PERSON — Wherever
appropriate, either a natural or artificial person, or both, including,
but not limited to, a corporation and fiduciary (corporate or otherwise)
and a legal representative.
(v) PLAN — The
pension plan set forth in this document and any and all amendments
thereto, which plan shall be known as the "City of Kirkwood Employees'
Pension Plan."
(w) PLAN
ADMINISTRATOR — The City employee to whom the Board
delegates its managerial duties and responsibilities under § F-102(i).
(x) PLAN
YEAR — A consecutive twelve-month period ending on
the last day of March in each year.
(y) PRIOR
PLANS or PRIOR PLAN — Either or both the Civilian
Employees' Retirement Plan (enacted on September 19, 1968, pursuant
to Ordinance No. 5407), and the Civilian Employees' Pension Plan
(enacted on March 20, 1980, pursuant to Ordinance No. 6576).
(z) RETIREE — An
employee who has retired from the City and who is receiving or has
received benefits pursuant to prior plans.
(aa) RETIREMENT DATE — Normal retirement date or late
retirement date.
(bb) SPOUSE — Effective September 16, 2013, a legally
married, opposite or same-sex spouse as determined under the applicable
law of any state in the United States or domestic or foreign jurisdiction
having the legal authority to sanction marriages at the time and location
that the marriage was entered into.
(cc) YEAR OF VESTING SERVICE or YEAR OF VESTING SERVICE WITH THE CITY — A
plan year during which the employee has completed at least 1,000 hours
of service with the City. In determining the number of years of vesting
service for a participant, years of vesting service need not be consecutive.
Words in this instrument used in the singular shall include
the plural and words in the masculine shall include the feminine or
neuter, or both wherever appropriate.
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[Code § 18 1/2-8]
Valuation. The value of the fund, other than the amount of any
suspense account established in accordance with § F-106(d),
shall be determined on a daily basis. The Board of Trustees shall
report such value to the City Council and participants, in writing,
on a quarterly basis. In making such, determination, the Board of
Trustees shall value the assets of the fund, other than the amount
of any suspense account established in accordance with § F-106(d),
at their current fair market value as of such valuation date, with
all accrued income, and shall deduct all accrued expenses and other
amounts properly chargeable to the fund. Such valuation shall include
any contribution made by the City as of such valuation date, as well
as any losses sustained in the administration of the fund since the
preceding valuation date. The Board's determination of the value
of the fund shall be final and conclusive for all purposes of this
plan and shall be binding upon the City, participants, former participants,
their respective beneficiaries and all other persons interested in
or concerned with the fund.
[Code § 18 1/2-9.1]
For each person receiving benefits hereunder as of January 1,
1987, the amount of current monthly benefit of such person shall be
increased by 2% times the number of years (or portion thereof) which
such person has been retired, effective April 1, 1988.
[Code § 18 1/2-9.2]
Each monthly benefit payment made after January 1, 1992, to
a retiree who was receiving benefits on or about April 1, 1987, shall
be increased by an amount equal to 7% of the amount of the monthly
benefit being paid to such retiree as of January 1, 1992.
[Code § 18 1/2-9.3]
Each monthly benefit payment made after January 1, 1996, to
a retiree who was receiving benefits on or about April 1, 1987, shall
be increased by an amount equal to 6% of the amount of the monthly
benefit being paid to such retiree as of July 1, 1995 and there shall
be a lump-sum retroactive payment equivalent to such monthly increase
for the period from July 1, 1995 to December 31, 1995.
[Code § 18 1/2-9.4]
Each monthly benefit payment made after October 31, 1997, to
a retiree who was receiving benefits on or about April 1, 1987, shall
be increased by an amount equal to 5.5% of the amount of the monthly
benefit being paid to such retiree as of July 1, 1997 and there shall
be a lump-sum retroactive payment equivalent to such monthly increase
for the period from July 1, 1997 to October 31, 1997.
[Ord. No. 10272, 6-4-2015]
(a)
The Downtown Kirkwood Special Business District ("District") may adopt this plan by resolution of its applicable board. Such resolutions to adopt the plan shall specify the effective date of the adoption of the plan and that the district agrees to be bound by all provisions of this plan. Upon acceptance by the City of such adoption, all then-employees of the District shall become participants in this plan. Upon the effective date of the adoption of this plan by the district, the definition in this plan of "City" shall include the District only in determining eligibility to participate in the plan, counting service under and making contributions to the plan, binding effect of the plan and return of contributions. Further, in making contributions to the plan, §
F-105 shall be interpreted so that the City makes contributions only with respect to the participants employed by it and the District makes contributions only with respect to the participants employed by it.
(b)
In order that employees of the District may be transferred to
employment with the City and vice-versa, without prejudice to such
employees, all service of each transferring employee shall be calculated
as if no transfer has taken place and all accounts maintained and
operated pursuant to the plan on behalf of any transferring employee
shall be operated and maintained as if no transfer has taken place.
[Code § 18 1/2-15]
A retiree under a prior plan who retired from employment with
the City on or after January 1, 1987, and prior to April 1, 1987,
shall in addition to his or her earned benefit payable under the prior
plan, be entitled to receive from this plan an amount equal to all
of such retiree's mandatory contributions to the prior plan with
interest on the retiree's mandatory contributions to the plan
from July 1, 1973, through December 31, 1985, at the rate of 2% per
annum, compounded annually, which amount shall be payable to such
retiree in one lump sum as soon as practicable after April 1, 1987.
[Code § 18 1/2-18; Ord. No.
10207, § 1, 8-7-2014]
(a) Continuation and increase of benefits under prior plans. Benefits
under the prior plans for retirees terminated vested participants,
participants receiving disability benefits who were determined to
be disabled and spouses of such participants shall be as follows:
(1)
After April 1, 1987, retirees except as provided in §
F-114, under the prior plans shall continue to receive no less than the monthly benefit they are receiving under the applicable prior plan.
(2)
After April 1, 1987, terminated vested participants and spouses,
if applicable, under the applicable prior plan shall be paid retirement
benefits in accordance with the provisions of the applicable prior
plan.
(3)
After April 1, 1987, participants receiving disability benefits
under the applicable prior plans and spouses, if applicable, shall
be paid benefits in accordance with the applicable prior plan.
(b) Approval of benefit increases. The Board may from time to time recommend
to the City Council to increase proportionately the benefits under
the foregoing § F-117(a). Any such recommendation of the
Board shall require at least four affirmative votes of the members
of the Board.
(c) Allocation/distribution of excess funds. At the request of at least
five members of the Board of Trustees, the City Council, in its discretion,
may from time to time approve an allocation of a specific dollar amount
from Trust II of the fund, and the City Council shall have final authority
regarding such allocation; provided, however, that the approval of
a request for allocation shall not be unreasonably withheld by the
City Council, and provided further that the following conditions shall
be met with respect to the requested allocation:
(1)
The Board shall recommend to the City Council allocation of
a specific dollar amount, which recommendation shall be supported
by an evaluation which reflects the solvency of Trust II of the fund
to accommodate such recommendation. Such evaluation shall be prepared
and attested to by an actuary who has been approved by the Joint Board
of Actuaries to perform actuarial services required under the Employee
Retirement Income Security Act of 1974, as amended, or a certified public accountant.
(2)
Except as provided herein, allocation of the amount approved
by the City Council under this § F-117(c) shall be made
to (i) current participants who are active participants at the time
the City Council approves such amount, (ii) former participants who
were participants in the plan on April 1, 1987, and (iii) those individuals
who were participants in the plan on April 1, 1987 and who have received
distribution of their entire vested interest in the plan in the form
of a lump sum or an annuity [all persons listed in (i), (ii) and (iii)
of this Subsection (c)(2) are hereafter referred to in this § F-117(c)
jointly as "individuals" and singly as "individual"].
(3)
Allocation of the approved dollar amount shall be made in accordance
with the following formula:
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A + B
C + D
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x E = pro rata share of allocation
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For purposes of the formula, A equals the value of the individual's
account as of April 1, 1987; B equals the value of all contributions
made to the individual's account on and after April 1, 1987;
C equals the value of all individuals' accounts as of April 1,
1987; D equals the value of all contributions made to the individuals'
accounts on and after April 1, 1987; and E equals the specific dollar
amount approved by the City Council to be distributed. Only accounts
and post March 31, 1987 contributions for those individuals who are
entitled to allocations under this § F-117(c) shall be considered
for purposes of this calculation.
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(4)
Each individual's pro rata share of the allocation shall
be credited to his or her current account and shall be held in such
current account until such individual becomes entitled to a distribution
of his or her vested interest in the plan. Where no current account
is maintained for an individual, the Board shall forward, by certified
mail, return receipt requested, to such individual's last known
address notice of his or her entitlement to an additional benefit
from the plan. The Board shall distribute to such individual his or
her pro rata share of the allocation in one lump sum upon verification
of such individual's identity and address.
(5)
If an individual is deceased at such time as an allocated amount
is to be distributed, such distribution shall be made to the individual's
beneficiary, upon verification of such individual's death, and
the identity and address of his or her beneficiary. A distribution
shall only be made to a beneficiary of an individual if such individual
is an active participant and living at the time the City Council approves
the allocation under this § F-117(c).
(6)
In the event the City Council
approves the distribution of funds under this § F-117(c),
a person shall treated a current participant who is an active participant
under § F-117(c)(2)(i) and an allocation of such distribution
shall be made under this § F-117(c) with respect to such
person if:
(i)
He or she was formerly a participant in this plan;
(ii) He or she is a participant, within the meaning
of § F-201(r), in the City of Kirkwood Police Officers'
and Firefighters' Pension Plan at the time the City Council approves
the amount to be allocated under this § F-117(c);
(iii) He or she became a participant in the City of
Kirkwood Police Officers' and Firefighters' Pension Plan
under § F-213(q) when he or she ceased being an employee
under this plan; and
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Only the contributions made on behalf of such person under § F-105 shall be considered for purposes of determining the person's pro rata share of a distribution under § F-117(c)(3). The pro rata share of such person's allocable share of a distribution under this § F-117(c) shall be allocated to his or her current account under the City of Kirkwood Police Officers' and Firefighters' Pension Plan described in § F-201(a)(1).
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(7)
No distribution authorized herein may be used for any purpose
other than the provision of benefits for individuals and their beneficiaries
as provided herein.
(8)
Rollover amounts under § F-112(o) shall not be treated
as contributions for purposes of § F-117(c)(3).
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All allocations of participants approved pursuant to this § F-117(c)
shall be allocated to current accounts or distributed as a single
sum payment to former participants or beneficiaries who do not have
current accounts under the plan.
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[Code § 18 1/2-19]
Any person who shall knowingly or willfully make any false statement
in applying for or securing a benefit under this plan for such person
or any other person, or shall knowingly falsify any record or knowingly
permit any record to be falsified, for the purpose of applying for
or securing a benefit for such person or any other person under this
plan, shall be guilty of a misdemeanor, and upon conviction thereof
be assessed a fine not less than $100 nor more than $500.
[Code § 18 1/2-20]
Article II shall hereafter be known and cited as Article II, Appendix Chapter
F of the Kirkwood Code of Ordinances, "City of Kirkwood Police Officers' and Firefighters' Pension Plan."
[Code § 18 1/2-21]
Whenever used herein, unless the context clearly indicates otherwise:
(a) ACCOUNT
All of the following, but if there are not all shall mean
whichever exists:
(1)
The current account required to be established and maintained
in accordance with the provisions of § F-207(b)(1);
(2)
The mandatory contributions account required to be established
and maintained in accordance with the provisions of § F-207(b)(1);
and
(3)
The retirement plan account required to be established and maintained
in accordance with § F-207(b)(2).
(b) BENEFICIARY
Any person or persons (including, but not limited to, an
estate, an executor, administrator or fiduciary, corporate or otherwise)
designated pursuant to § F-209(j) by a participant or former
participant to receive any undistributed account balance distributable
hereunder on account of the death of such participant or former participant.
To the extent a participant or former participant has not named a
beneficiary at the time of his or her death; the beneficiary designation
of the participant or former participant cannot be located; the designated
beneficiary and contingent beneficiaries are deceased or cannot be
located or the beneficiary designation is legally ineffective, the
participant's or former participant's beneficiary shall
be his or her surviving spouse at the time of the participant's
or former participant's death. If the participant or former participant
does not have a surviving spouse at his or her death, the participant's
or former participant's children (natural and adopted) surviving
at his or her death shall be the beneficiary or beneficiaries and
shall be entitled to payment of the participant's or former participant's
undistributed account balance in equal shares without application
of any antilapse statute. If the participant or former participant
does not have surviving children at his or her death, the participant
or former participant's estate shall be his or her beneficiary.
When used with respect to maintenance of an account for a beneficiary
and the adjustments to be made therein, the term beneficiary shall
mean a beneficiary who is currently entitled to payment of a benefit
under the plan.
(d) CITY
The City of Kirkwood or the officer or officers of the City
to whom the City Council may delegate any of its rights, duties or
powers hereunder.
(f) CODE
The Internal Revenue Code of 1986, as amended.
(g) COMPENSATION
The total of all remuneration paid by the City to an employee
during the period he or she is a participant in the plan, and received
by a participant as workers' compensation, other than a lump sum payment
of workers' compensation. "Compensation" shall include salary, bonuses,
wages, overtime payments, or other regular remuneration, educational
incentive pay, all amounts deferred under any plan of deferred compensation
maintained by the City (including mandatory contributions under this
plan), and all amounts contributed by the City, pursuant to a salary
reduction agreement, to plan which satisfies the requirements of Section
125, 132(f) or 457(b), of the code but excludes expenses paid or reimbursed,
food allowances, clothing allowance, tuition reimbursement payments,
the imputed value of life insurance, automobile usage, and all contributions
made under this plan (other than mandatory contributions) and any
other plan maintained by the City which satisfies the requirements
of Section 401(a) of the code, or any other statute of similar import.
In order to be taken into account for purposes of this section, compensation
generally must be paid or treated as paid to the employee before the
severance from employment of the employee. However, compensation paid
by the later of 2 1/2 months after the severance from employment
from the City by an employee or the end of the plan year that includes
the date of severance from employment of the employee shall be treated
as compensation to the extent such amounts are compensation for services
rendered that would have been paid absent a severance from employment,
payments of accrued vacation or other leave the employee would have
been able to use if employment had continued, or all amounts deferred
under any plan of unfunded nonqualified compensation that would have
been paid at the same time if the employee had continued in employment.
The compensation of each participant taken into account for determining
all benefits provided under the plan for any plan year shall not exceed
$200,000, as adjusted for increases in the cost-of-living in accordance
with Section 401(a)(17)(B) of the code. The cost-of-living adjustment
in effect for a calendar year applies to any determination period
beginning in such calendar year. If a determination period consists
of fewer than 12 months, the annual compensation limit is an amount
equal to the otherwise applicable annual compensation limit multiplied
by a fraction, the numerator of which is the number of months in the
short determination period, and the denominator of which is 12. If
compensation for any prior determination period is taken into account
in determining a participant's allocations for the current plan
year, the compensation for such prior determination period is subject
to the applicable annual compensation limit in effect for the prior
period. Effective January 1, 2009, compensation shall not include
differential wage payments.
(h) DIFFERENTIAL WAGE PAYMENT
Payments which are made by the City to a person with respect
to any period which the person is performing military services, while
on active duty for a period of more than 30 days, which represents
all or a portion of the wages the person would have received from
the City if the individual was performing services for the City.
(i) EMPLOYEE
Any person (excluding any elected or appointed official who
is not an employee of the City) who is employed by the City as a commissioned,
salaried police officer or firefighter. Effective January 1, 2009,
the term "employee" shall also mean any such person who receives differential
wage payments.
(j) FORMER PARTICIPANT
A person who shall have been a participant, but whose employment
with the City shall have terminated, or is deemed to have terminated
pursuant to the provisions hereof; and to whom or to whose beneficiary
there shall not have been distributed the aggregate amount of benefits
to which such participant or his or her beneficiary is entitled under
the plan.
(k) FUND
The res or corpus and all earnings, appreciation or additions
thereon and thereto held by the Board of Trustees, including those
funds accumulated under the prior plans, and shall be designated the
"City of Kirkwood Police Officers' and Firefighters' Retirement
Fund" as provided in § F-212(a) hereof.
(m) HOUR OF SERVICE
(1)
Each hour for which (a) an employee is paid, or entitled to payment, by the City for the performance of duties during the applicable computation period, and the hour of service shall be credited to the period in which the duties are performed, (b) an employee is paid, or is entitled to such payment, by the City on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military leave or leave of absence and the hour of service shall be credited to the period in which the period during which no duties are performed occurs, (c) back pay, irrespective of mitigation of damages, has been either awarded or agreed to by the City and the hour of service shall be credited to the period to which the award or agreement pertains, and (d) an employee would have been paid or entitled to payment under (a) above assuming that he or she had not been on an authorized leave of absence (in accordance with the provisions of §
F-204), and but for the authorized leave of absence would have been regularly engaged in the performance of his or her duties and the hour of service shall be credited to the period he or she would have been regularly engaged in the performance of his or her duties had he or she not been on authorized leave of absence; provided, however, that in no event shall an hour of service be credited to an employee under more than one of the applicable (a), (b), (c) or (d) above. The number of hours of service to be credited under (b) above shall be in accordance with the requirements of 29 CFR 2530.200b-2(b) as such regulations may be amended or superseded from time to time and such regulations are incorporated herein by reference.
(2)
The definition of "hour of service" as provided in this section
shall be construed so as to resolve any ambiguities in favor of crediting
employees with hours of service.
(n) INVESTMENT MANAGER
A person, firm or corporation appointed by the Board to manage
(including the power to acquire or dispose of all or one or more portions
of the fund), which person, firm or corporation shall:
(1)
Be registered as an investment adviser under the Investment
Advisers Act of 1940; or a bank as defined in the Investment Advisers Act of
1940; or an insurance company qualified to manage (including the power
to acquire or dispose of) all or one or more portions of the fund
under the laws of more than one state; and
(2)
Acknowledge in writing to the City that he, she or it is a fiduciary
with respect to the plan.
(o) LATE RETIREMENT DATE
The date a participant retires from the employment of the
City after his or her normal retirement date.
(p) MILITARY SERVICE
Effective as of January 1, 2007, any service in the uniformed
services, (as defined in Chapter 43 of Title 38 of the United States
Code), by any person if such person is entitled to reemployment rights
under such Chapter with respect to such service.
(s) PERIOD OF ELIGIBILITY SERVICE
A consecutive six-month period, computed with reference to
the date on which the employee's employment commenced with the
City or semiannual anniversaries thereof during which the employee
completes not less than 500 hours of service. If the status of an
employee within the meaning of § F-101(i) changes to that
of an employee within the meaning of § F-201(i) before such
individual becomes eligible to participate in the City of Kirkwood
Employees' Pension Plan, such employee's service as an employee
within the meaning of § F-101(i) shall be treated as service
as an employee within the meaning of § F-201(i) for purposes
of this § F-201(s).
(t) PERMANENT DISABILITY or PERMANENTLY DISABLED
Such physical or mental disability as determined by the disability
insurance carrier as provided for herein. "Permanent disability" shall
exclude any ailment or condition resulting from an employee's
engagement in the commission of a felony, from an employee's
habitual use of drugs, intoxicants or narcotics, from an employee's
deliberately self-inflicted injury or self-induced illness, and from
any injury received or disease contracted in military service or in
the armed forces of any other country or of any private paramilitary
organization, and any other exclusions and limitations provided for
by such insurance.
(u) PERSON
Wherever appropriate, either a natural or artificial person,
or both, including, but not limited to, a corporation and fiduciary
(corporate or otherwise) and a legal representative.
(v) PLAN
The pension plan set forth in this document and any and all
amendments thereto, which plan shall be known as the "City of Kirkwood
Police Officers' and Firefighters' Pension Plan."
(w) PLAN ADMINISTRATOR
The City employee to whom the Board delegates its managerial
duties as responsibilities under § F-202(h).
(x) PLAN YEAR
A consecutive twelve-month period ending on the last day
of March in each year.
(y) PRIOR PLANS or PRIOR PLAN
Either or both the City of Kirkwood Policemen's and
Firemen's Retirement Plan (enacted on September 21, 1946, pursuant
to Ordinance No. 3418, as amended and restated on November 3, 1977,
pursuant to Ordinance No. 6199) in effect prior to April 1, 1987,
and the City of Kirkwood Employees' Pension Plan (enacted on
March 19, 1987, pursuant to Ordinance No. 7627) as in effect from
April 1, 1987 through June 28, 1987.
(z) RETIREE
An employee who has retired from the City and who is receiving
or has received benefits pursuant to prior plans or the plan.
(bb) SPOUSE
Effective September 16, 2013, a legally married opposite
or same-sex spouse as determined under the applicable law of any state
in the United States or domestic or foreign jurisdiction having the
legal authority to sanction marriages at the time and location that
the marriage was entered into.
(cc) YEAR OF VESTING SERVICE or YEAR OF VESTING SERVICE WITH
THE CITY
A plan year during which the employee has completed at least
1,000 hours of service with the City. In determining the number of
years of vesting service for a participant, years of vesting service
need not be consecutive.
Words in this instrument used in the singular shall include
the plural and words in the masculine shall include the feminine or
neuter or both wherever appropriate.
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[Code § 18 1/2-34]
A retiree under a prior plan who retired from employment with
the City on or after January 1, 1987, and prior to April 1, 1987,
shall, in addition to his or her earned benefit payable under the
prior plan, be entitled to receive from this plan an amount equal
to all of such retiree's mandatory contributions to the prior
plan with interest on the retiree's mandatory contributions to
the prior plan from July 1, 1973, through December 31, 1985, at the
rate of 2% per annum, compounded annually, which amount shall be payable
to such retiree in one lump sum as soon as practicable after April
1, 1987.
[Code § 18 1/2-37; Ord. No.
10207, § 1, 8-7-2014]
(a)
Continuation and increase of benefits under prior plans. Benefits
under the prior plans for retirees, terminated vested participants,
participants receiving disability benefits who were determined to
be disabled and their spouses of such participants shall be as follows:
(1)
After April 1, 1987, retirees, except as provided in §
F-214, under the prior plans shall continue to receive no less than the monthly benefit they are receiving under the applicable prior plan.
(2)
After April 1, 1987, terminated vested participants and their
spouses, if applicable, under the applicable prior plan shall be paid
retirement benefits in accordance with the provisions of the applicable
prior plan.
(3)
After April 1, 1987, participants receiving disability benefits
under the applicable prior plans and their spouses, if applicable,
shall be paid benefits in accordance with the applicable prior plan.
(b)
Increased benefits to current and deferred vested retirees.
(1)
All benefit payments made after March 31, 1988, to retirees
who were receiving benefits on or before December 31, 1977, shall
receive an increase in their current monthly benefit so that their
total monthly benefit shall be equal to 1/2 of the proficiency rate
of pay of a Kirkwood police officer in effect on March 31, 1988. (This
monthly benefit shall not be affected by any future adjustments to
the proficiency rate of pay of a Kirkwood police officer.)
(2)
Retirees and terminated vested participants and spouses, if
applicable, under the defined benefit plan established under Ordinance
No. 6199, shall be paid retirement benefits in accordance with the
provisions of the prior plan with a rank accrual amount of $38.50.
(3)
Each monthly benefit payment made after September 30, 1991,
to a retiree who was receiving benefits on or before April 1, 1987,
shall be increased by an amount equal to 6% of the amount of the monthly
benefit being paid to such retiree as of September 30, 1991.
(4)
Each monthly benefit payment made after June 30, 1995, to a
retiree who was receiving benefits on or before April 1, 1987, shall
be increased by an amount equal to 6% of the amount of the monthly
benefit being paid to such retiree as of June 30, 1995.
(5)
Each monthly benefit payment made after October 31, 1997, to
a retiree who was receiving benefits on or before April 1, 1987, shall
be increased by an amount equal to 5.5% of the amount of the monthly
benefit being paid to such retiree as of July 1, 1997, and there shall
be a lump-sum retroactive payment equivalent to such monthly increase
for the period from July 1, 1997 to October 31, 1997.
(c)
Allocation/distribution of excess funds. At the request of the
Board of Trustees, the City Council, in its discretion, may from time
to time approve an allocation of a specific dollar amount from Trust
II of the fund, and the City Council shall have final authority regarding
such allocation; provided, however, that the approval of a request
for allocation shall not be unreasonably withheld by the City Council,
and provided further that the following conditions shall be met with
respect to the requested allocation:
(1)
The Board of Trustees shall recommend allocation of a specific
dollar amount, which recommendation shall be supported by an evaluation
which reflects the solvency of Trust II of the fund to accommodate
such recommendation. Such evaluation shall be prepared and attested
to by an actuary who has been approved by the Joint Board of Actuaries
to perform actuarial services required under the Employee Retirement
Income Security Act of 1974, as amended, or a certified public accountant.
(2)
Allocation of the amount approved by the City Council shall
be made to (i) current participants who are active participants at
the time the City Council approves such amount, (ii) former participants
who were participants in the plan on April 1, 1987, and (iii) those
individuals who were participants in the plan on April 1, 1987 and
who have received distribution of their entire vested interest in
the plan in the form of a lump sum or an annuity [all persons listed
in (i), (ii) and (iii) of this subsection (c)(2) are hereafter referred
to in this § F-217(c) jointly as "individuals" and singly
as "individual"].
(3)
Allocation of the approved dollar amount shall be made in accordance
with the following formula:
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A + B
C + D
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x E = pro rata share of allocation
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For purposes of the formula, A equals the value of the individual's
account as of April 1, 1987; B equals the value of all contributions
made to the individual's account on and after April 1, 1987;
C equals the value of all individuals' accounts as of April 1, 1987;
D equals the value of all contributions made to the individuals'
accounts on and after April 1, 1987; and E equals the specific dollar
amount approved by the City Council to be distributed.
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(4)
Each individual's pro rata share of the distribution shall
be credited to his or her current account and shall be held in such
current account until such individual becomes entitled to a distribution
of his or her vested interest in the plan. Where no current account
is maintained for an individual, the Board of Trustees shall forward,
by certified mail, return receipt requested, to such individual's
last known address notice of his or her entitlement to an additional
benefit from the plan. The Board of Trustees shall distribute to such
individual his or her pro rata share of the allocation in one lump
sum upon verification of such individual's identity and address.
(5)
If an individual is deceased at such time as an allocated amount
is to be distributed, such distribution shall be made to the individual's
beneficiary, upon verification of such individual's death, and
the identity and address of his or her beneficiary. A distribution
shall only be made to the beneficiary of an individual if such individual
is living at the time the City Council approves the allocation under
§ F-217(c).
(6)
In the event the City Council approves the distribution of funds
under this § F-217(c), a person shall be treated as a current
participant who is an active participant under § F-217(c)(2)(i) and an allocation of such distribution shall
be made under this § F-217(c) with respect to such person
if:
a.
He or she was formerly a participant in this plan;
b.
He or she is a participant, within the meaning of § F-101(r),
in the City of Kirkwood Employees' Pension Plan at the time the
City Council approves the amount to be allocated under this § F-217(c);
c.
He or she became a participant in the City of Kirkwood Employees'
Pension Plan under § F-112(r) when he or she ceased being
an employee under this plan; and
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Only the contributions made on behalf of such person under §§ F-205 and F-206 shall be considered for purposes of determining the person's pro rata share of a distribution under § F-217(c)(3). The pro rata share of such person's allocable share of a distribution under this § F-217(c) shall be allocated to his current account under the City of Kirkwood Employees' Pension Plan described in § F-101(a)(1).
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(7)
No distribution authorized herein may be used for any purpose
other than the provision of benefits for individuals.
(8)
Rollover amounts under § F-213(o) shall not be treated
as contributions for purposes of § F-217(c)(3).
All allocations of participants approved pursuant to this § F-217(c)
shall be allocated to current accounts or distributed as a single
sum payment to former participants or beneficiaries who do not have
a current account under the plan. Except as otherwise provided in
§ F-217(c)(5), this § F-217(c) is effective February
4, 1993.
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[Code § 18 1/2-38; Ord. No.
7497, § 1, 3-13-1986]
Any person who shall knowingly or willfully make any false statement
in applying for or securing a benefit under the plan for such person
or any other person, or shall knowingly falsify any record or knowingly
permit any record to be falsified, for the purpose of applying for
or securing a benefit for such person or any other person under the
plan, shall be guilty of a misdemeanor, and upon conviction thereof
be assessed a fine not less than $100 nor more than $500.
[Code § 18 1/2-39; Ord. No.
7497, § 1, 3-13-1986]
There be and hereby is levied on all real estate and tangible
personal property, subject to taxation in the City of Kirkwood for
the year commencing January 1, 1978, for the fund a total tax of $0.25
per $100 of assessed valuation. Said tax rate may be changed from
time to time, provided that any changes therein must be made consistent
with the applicable laws of the State of Missouri. Such changes in
tax rate may be made by any ordinance generally setting the tax rate
for the City government and need not be made by specific amendment
to this article.