§ 2-77. Retirement benefits and their payment—Generally.

(a)

Each member who retired prior to July 1, 2001, shall be entitled to the benefits set forth in the ordinance at the time of the member's retirement.

(b)

Each member who retires on or after January 29, 2003, (or such other date as provided in any applicable collective bargaining agreement) shall be entitled to a pension for life in an amount equal to two and four-tenths (2.4) percent of the member's average annual pay times years of credited service.

(c)

Each such member who has been retired for disability according to the provisions of this division shall be entitled to a pension during the continuance of such disability in an amount equal to two and four-tenths (2.4) percent of the member's average annual pay times years of credited service; provided that the retirement board may, from time to time, call for medical evidence that the member remains totally disabled. If the retirement board, upon medical evidence, concludes that the disability for which the employee is receiving a pension no longer exists, or if it is established that such employee is engaged in gainful occupation, the retirement board shall thereupon order a discontinuance of the pension payable to such employee. All pension payments shall represent completed months of retirement and shall become due and payable to persons entitled thereto on the last business day of each calendar month; provided the initial pension payment to a retired member shall be computed as the pro rata amount of the member's regular monthly pension corresponding to the fraction of the month elapsed since the effective date of the member's retirement. No pension payable to an employee on account of total and permanent disability sustained during the performance of essential duties pertaining to employment by the city, as provided herein, shall be less than one-half (½) the annual rate of regular compensation received by the disabled employee at the time of disability, including federal social security payments, if any.

(d)

Average annual pay is determined by selecting the highest three (3) years average pay out of the ten-year period immediately preceding the member's retirement.

(e)

A member who has retired on or after their normal retirement date shall be allowed to receive benefits pursuant to this division if such member is still employed by the city in a position not covered under this pension system.

(Code 1960, § 47-7; Ord. of 2-4-69; Ord. of 2-2-71; Ord. of 5-7-74; Ord. of 11-5-80; Ord. of 1-14-03; Ord. of 6-10-08; Ord. of 5-13-14; Ord. of 10-10-17)