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HomeMy WebLinkAboutOrdinance 20471-10-2012 ORDINANCE NO. 20471-10-2012 AN ORDINANCE REPEALING CHAPTER 2, ARTICLE VI, ENTITLED "RETIREMENT," OF THE CODE OF THE CITY OF FORT WORTH (1986), AS AMENDED, AND CREATING CHAPTER 2.5 ENTITLED "RETIREMENT"; MOVING THE CONTENTS OF ARTICLE VI INTO THE NEWLY-CREATED CHAPTER 2.5 AND RENUMBERING CHAPTER 2.5 TO INCLUDE ARTICLE I, ENTITLED "EMPLOYEES' RETIREMENT FUND," ARTICLE II, ENTITLED "RETIRED EMPLOYEES' GROUP DEATH BENEFIT FUND," AND ARTICLE III, ENTITLED, "SUPPLEMENTAL RETIREMENT ORDINANCE"; AMENDING THE NEWLY NUMBERED ARTICLE I, ENTITLED "EMPLOYEES' RETIREMENT FUND," TO DELETE UNUSED DEFINITIONS AND ADD DEFINITIONS; INCORPORATING BENEFIT CHANGES AND REDUCTIONS TO THE EMPLOYEES' RETIREMENT FUND; PROVIDING THAT THIS ORDINANCE IS CUMULATIVE; PROVIDING A SEVERABILITY CLAUSE; PROVIDING THAT ALL CONDITIONS PRECEDENT FOR THE ADOPTION OF THIS ORDINANCE HAVE BEEN MET; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Fort Worth City Council ("City Council") adopted by Ordinance Chapter 2, Article VI, of the Code of the City of Fort Worth, collectively called "Retirement"; and WHEREAS, Article 62431 of the Texas Revised Civil Statutes applies to the City of Fort Worth and the Employees' Retirement Fund of the City of Fort Worth ("the Fund"); and WHEREAS, the City Council has endorsed the goal of preservation of a defined benefit plan for employees; WHEREAS, the City's analysis projects the Fund to have an infinite Funding period for the accrued unFunded liability (market value) if more conservative investment returns are assumed even without booking future potential ad hoc cost-of-living-adjustments (COLAs); WHEREAS, the City's analysis considered options to mitigate the risk of not meeting the Fund's investment return assumptions; Ordinance No. 20471-10-2012 Pagel of 92 WHEREAS, the City and the tux payers of Fort Worth currently have the State constitutional obligation to bouor cuonod booefib; for eoly|oYcon should the Fund bcooroc insolvent and therefore have uoddoul interest iu the affordability of the bouefi[s that are offered to employees; WHEREAS, the City conbn|o` within Cooxd(udonu| oonahaJn|a and as limited by collective bargaining orrnoct and confer agreements, the Retirement Boucfi{e that are offered to employees; WHEREAS, the Employee flcdrenJcot Fund Board has the legal authority over the investment strategy and management oversight of the contributions once remitted to them; WHEREAS, the City Council has demonstrated commitment 10 this goal by increasing the City's contributions to the Fund by5% o[puyro\l in 2007, by 4% ofpuyrol\ in 20 10 and by making uoue-bnue contribution of$7 million io20|O; WHEREAS, these Funding oononuitrueotm have nearly doubled the City's unuuu| fiomnoiu| 000noitouoo\ to the Fund over n period of four yourm` rcyccocodug u $39 million increased annual expense iuF1'2O|2 compared toFY2007; WHEREAS, the City reduced Kebrcroeui BeocGio for General employees hired on or after July 1, 201 t, with a pledge to consider the same for Police Officers and Fire Fighters during their subsequent contract negotiations; WHEREAS, the City may not unilaterally reduce the Funding commitment to the Fund per State law; WHEREAS, the City is unwilling k> make additional fiounoiu| contributions to the Fund due to risks to the City's long-term ouaiaiuubiUty in terms of operations, staffing, infrastructure and tux rate competitiveness; Ordinance No. 2847l-lO-2O|2 Pao,e2of92 WHEREAS, the City intends to resolve the current structural dilemma of the ad hoc COLA for the benefit of all members' future security by assigning a 2% simple guaranteed annual adjustment for future accrued years of service to active General Employees hired before July 1, 2011 and to active Police Officers hired before January 1, 2013; WHEREAS, the City intends to allow all active General employees hired before July 1, 2011 and to active Police Officers hired before January 1, 2013 who are subject to the ad hoc COLA the opportunity to select a 2% simple guaranteed annual adjustment for past service accrual; WHEREAS, the City intends to allow all Retirees (General, Police and Fire) and beneficiaries who are subject to the ad hoc COLA the opportunity to select the 2% simple guaranteed annual adjustment based on their starting pension amount with the first payment occurring in January 2014; WHEREAS, in order to pay for 2% guaranteed annual adjustment and to improve the health of the Fund for the security of employees and the citizens of Fort Worth, additional benefit reductions are necessary for the future service accrual of existing employees; WHEREAS, the City Council has provided ninety-day notice to the Board of the Employees' Retirement Fund of its intention to make benefit changes and reductions in Retirement Benefits for future Police Officers and future service accrual for existing Police Officers and General Employees; and WHEREAS, the benefits for Firefighters have not been changed in compliance with the April 13, 2010 Collective Bargaining Agreement between the City and Fort Worth Professional Firefighters Association IAFF Local 440. Ordinance No. 20471-10-2012 Page 3 of 92 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION I. Chapter 2, Article V1, entitled "Retirement," of the Code of the City of Fort Worth (1986), as amended, is hereby repealed, and Chapter 2.5, entitled "Retirement," is adopted, moving the contents of Article VI into the newly-created chapter 2.5 and renumbering the contents of Chapter 2.5 to include Article 1, entitled "Employees' Retirement Fund," Article 11, entitled "Retired Employees' Group Death Benefit Fund," and Article 111, entitled "Supplemental Retirement Ordinance." SECTION 2. Chapter 2.5 is enacted to read as follows: ARTICLE I—EMPLOYEES' RETIREMENT FUND DIVISION 1.—GENERAL PROVISIONS Sec. 2.5-1. Definitions The following words, terms and phrases, when used in this Chapter, as amended, shall have the meanings ascribed to them in this Division, except where the context clearly indicates a different meaning. The masculine pronouns, wherever used herein, shall include both male and female persons. Actuarial Equivalent and Actuarially Equivalent shall mean equality in value of the aggregate amounts expected to be received under different forms of payment based upon the actuarial factors and assumptions used by the Actuary with the approval of the Board. Actuarial Tables shall mean such tables of mortality, interest rates, turnover discounts, salary scales, etc., as shall be used by the Actuary with approval of the Board. Actuary shall mean the technical advisor regarding the operations, which are based on mortality, service, and compensation experience, who makes periodic valuations of the assets and liabilities of the Fund and other evaluations as requested by the Board and the Governing Body. Ordinance No. 20471-10-2012 Page 4 of 92 Alternative Pension Benefit shall have the meaning as set forth in the following Sections: • Section 2.5-25 for Group III. Members • Section 2.5-35 for Group IV Members • Section 2.5-45 for Group I Members • Section 2.5-55 for Group II Members • Section 2.5-65 for Firefighters; Base Pension shall mean the annual life pension a Member receives as set forth in the following sections: • Section 2.5-25 for Group III Members • Section 2.5-35 for Group IV Members • Section 2.5-45 for Group I Members • Section 2.5-55 for Group II Members • Section 2.5-65 for Firefighters If a Member elects an Alternative Pension Benefit, or participates in DROP, the Member's Base Pension shall not include the lump slim amount or the DROP account. Beneficiary shall mean any person in receipt of a Retirement Benefit or any other benefit provided under this Chapter. Board shall mean the Board of Trustees of the Employees' Retirement Fund of the City of Fort Worth. Cash Balance Account shall mean the individual nominal account established for General Employees hired on or after July 1, 2011, to account for overtime contributions made to the Fund. City shall mean the City of Fort Worth, Texas. Code shall mean the United States Internal Revenue Code, as amended, and any successor thereof. Group I Member shall mean a General Employee hired prior to July 1, 2011. Group II Member shall mean a General Employee hired on or after July 1, 2011. Group III Member shall mean a Police Officer hired prior to January 1, 2013. Group IYMember shall mean a Police Officer hired on or after January 1, 2013, Compensation Base shall have the meanings set forth in the following sections: • Section 2.5-23 for Group III Members; Ordinance No_ 20471-10-2012 Page 5 of 92 • Section 2.5-33 for Group IV Members; • Section 2.5-43 for Group I Members; • Section 2.5-53 for Group 11 Members; • Section 2.5-63 for Firefighters. Credited Service shall mean the number of years (treating each complete month of service as one-twelfth (1112) of a year) in which an employee has participated in the Employees' Retirement Fund of the City of Fort Worth, Texas, including unused accumulated sick leave and major medical leave pursuant to Section 2.5-4. Service for fifteen (15) or more calendar days in any month shall constitute a complete month of service; service for less than fifteen (15) calendar days in any month shall constitute a complete month of absence. Notwithstanding the preceding provisions of this definition of Credited Service, the period of time following a Member's effective DROP election shall not be included when determining a Member's Credited Service. A Member may have his or her proof of Credited Service increased through the purchase of Permissive Service credits as provided in Section 2.5-4(c). DROP shall mean the Deferred Retirement Option Program as set forth in Section 2.5-9. DROP Account shall mean the account created pursuant to Section 2.5-9(d) for a Member who has made a DROP Election. DROP Election shall mean the election made by a Member pursuant to Section 2.5-9 to participate in the DROP. Earned Income shall mean, for purposes of Section 2.5-7, those wages, salaries, tips, commissions, monetary bonuses or professional fees, and other amounts received as compensation for personal services actually rendered, including any compensation deferred under a deferred compensation program. Earnings shall have the meaning set forth in the following Sections: • Section 2.5-21 for Group III Members; • Section 2.5-31 for Group IV Members; • Section 2.5-41 for Group I Members; • Section 2.5-51 for Group 11 Members; • Section 2.5-61 for Firefighters. ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended, and any successor thereof. Executive Director shall mean the individual appointed by the Board to supervise the administrative affairs of the Fund and carry out the business of the Fund. ,Firefighter shall mean any Member of the Fort Worth Fire Department who was hired in substantial compliance with Chapter 143 of the Texas Local Government Code, or as modified by the provisions of the City's collective bargaining agreement with the Fort Worth Professional Ordinance No.20471-10-2012 Page 6 of 92 Firefighters Association k\EF Local 440, and any Firefighter trainee who is employed by the City for the sole Purpose of attending the City of Fort Worth Fire Training Academy. /risou/ Year shall mean the period from Oo0nhor | of one (|) year through September 30 of the following year. Fund shall mean The Employees' Retirement Fund of the City of Fort Worth, Texas. General Employee shall ououu u Member ofthe Fund who is not uPn|ico Officer orFirefighter. Governing Body shall mean the City Council for the City of Fort Worth. Legitimate Ch//d/en sbuU mean those obi|drou legitimate to their respective parent(s), as legitimacy iydefioo1byd6cTcxumFoozilyCodexuddhcToxuoPzobaicCodc, aoumcodcd. Line of Duty mhu|| rnouo in the course of the operation usual to u Member's erop|o}nnont` including all operations uoocmaury, incident or appurtenant thereto or connected ibcrcvvitb' whether such operations are conducted oi the usual place of employment or o1ouvvbcrc. Member shall rumao u "yunioiputiog &8emboc" as defined by Section 1.02(4) of Article 0243i of the Revised Civil Statutes. Net Earnings from So/f-E»»//»«/nowt obu|i constitute, for purposes of Section 2.5-7` the Net Earnings from Self-Employment ua reflected upon the Internal Revenue Form Schedule SE and its successors, which schedule in attached (o Internal Revenue Form l040 and its successors. Normal Retirement Dole shall have the meaning set forth iu the following Sections: • Section 2.5-22 for Group III Members; • Section 2.5'32 for Group [VMembers; • Section 2.5-42 for Group IMuouhecm; • Section 2.5'52 for Group 1lMembers; • Section 2.5'62 for Firefighters. Permissive Service CrooY/r shall noeuo a Mcnuhnr'y voluntary purchase of additional periods of Credited Service pursuant to Section 2.5-4(o}. Police Officer shall nnoau u Member o[ the City of Fort Worth Police Department, who has acquired civil service status pursuant to Chapter 143 of the Texas Local (]ovurou000t Code, no amended, as well as a beginning employee of the City of Fort Worth Police Department currently serving o one-year probationary period pursuant iu Chapter 143 of the Texas Local Gove000eot Code, as amended. Regular Interest mhu)| nocao interest compounded biweekly which should ognul but not exceed the effective annual rate of five and one-quarter(5 V4) percent computed on a calendar year basis. 0rdineou*No. 2O47l 10'2012 Page 7of92 Retirement Benefit shall mean a pension for life, as provided in this Chapter, payable each year in twelve (12) equal monthly installments, beginning as of the date fixed by the Board in accordance with the provisions of this Chapter. Standard Pension Benefit shall have the meaning set forth in the following Sections: • Section 2.5-25 for Group III Members; • Section 2.5-35 for Group IV Members; • Section 2.5-45 for Group I Members; • Section 2.5-55 for Group II Members; • Section 2.5-65 for Firefighters. Termination of Employment shall mean complete severance of employment of any Member as an employee of the City by any act or means except death, disability or retirement. Trustee shall mean a person appointed or elected to administer the Fund. Vested shall mean the rights accrued under this Article by a Member of the Fund who has been a Member for five (5) years or more, or who has attained his or her retirement date, as described in this Chapter. Such rights shall also accrue to all Members of the :Fund at the time of termination of the Fund, at the time of any complete discontinuance of the City's contributions to the Fund, and to Members affected at the time of any partial termination of the Fund, but only to the extent that the benefits of such :Members have been Funded. Vested Retirement Date shall have the meaning as set forth in the following Sections: • Section 2.5-22(b) for Group III Members; • Section 2.5-32(b) for Group IV Members; • Section 2.5-42(b) for Group I Members; • Section 2.5-52(b) for Group II Members; • Section 2.5-62(b) for Firefighters. Vested Termination Pension shall have the meaning as set forth in the following Sections: • Section 2.5-24(b) for Group III Members; • Section 2.5-34(b) for Group IV Members; • Section 2.5-44(b) for Group I Members; • Section 2.5-54(b) for Group II Members; • Section 2.5-64(b) for Firefighters. Sec. 2.5-2. Membership in the Fund (a) Membership in the Fund shall be based on the requirements set forth in Section 2.01 of Article 6243i of the Revised Civil Statutes, provided however, that membership in the Fund shall be a condition of employment for all employees who are eligible to be Members. Ordinance No. 20471-10-2012 Page 8 of 92 (b) If a Group I Member terminates employment with the City after vesting, takes a reFund of contributions, and then returns to service with the City after July 1, 2011, then the Group I Member will be treated as if he or she was hired after July 1, 2011, even if the Member purchases Permissive Service Credits pursuant to Section 2.5-4. (c) If a Group I Member terminates employment with the City after vesting, does not take a reFund of contributions, and then returns to service with the City after July 1, 2011, then the Group I Member will be treated as if he or she was hired prior to July 1, 2011. (d) If a Group I Member terminates employment with the City prior to vesting, and then returns to service with the City after July 1, 2011, then the Group I Member will be treated as if he or she was hired after July 1, 2011, even if he or she purchases Permissive Service Credits pursuant to Section 2.5-4, or failed to take a reFund of contributions. (e) For pension purposes, if a Group III Member, terminates employment with the City after vesting, takes a reFund of contributions, and then returns to service with the City after January 1, 2013, then the Group III Member will be treated as if the Group III Member was hired after January 1, 2013, even if the Group III Member purchases Permissive Service Credits pursuant to Section 2.5-4. For pension purposes, if a Group III Member terminates employment with the City after vesting, does not take a reFund of contributions, and then returns to service with the City after January 1, 2013, then the Group 111 Member will be treated as if the Group III Member was hired prior to January 1, 2013. (g) For pension put-poses, if a Group III Member terminates employment with the City prior to vesting, and then returns to service with the City after January 1, 2013, the Group III Member will be treated as if the Group III Member was hired after January 1, 2013, even if the Group III Member purchases Permissive Service Credits pursuant to Section 2.5-4, or failed to take a reFund of contributions. Sec. 25-3. Contributions (a) Member Contributions (1) Commencing on the effective date of membership and continuing until the date of actual retirement or earlier Termination of Employment, Police Officer Members shall contribute to the Fund eight and seventy-three one-hundredths (8.73) percent of their Earnings and all other Members shall contribute eight and twenty-five one-hundredths (8.25) percent of their Earnings. (2) If, following a Member's involuntary Termination of Employment, the City is required, as the direct result of an appeal or suit arising from the involuntary termination, to reinstate the Member's employment, the Member shall make the contribution described in this Section on any payment made by the City to the Member as back pay, less interim Earnings, if any. Ordinance No. 20471-10-2012 Page 9 of 92 (3) Contributions by Members reinstated following a military leave of absence are governed by the Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. §§ 4301-33, as provided for in Section 2.54(a)(4) of this Division. These contributions shall be made even if to do so would reduce a Member's net cash compensation below the minimum wage prescribed by law. (4) By accepting employment with the City, each Member shall be deemed to consent and agree to deductions made from the Member's compensation, and payments to all such Members of compensation, less the deduction, shall constitute a full and complete discharge of all claims and demands whatsoever for services rendered by such Member during the period covered by such payment, except as to the benefits provided by the Fund. (5) The contributions of all Members may be raised at any time from the amount stated in this Section to a higher amount in accordance with the procedures provided by Article 62431 of the Texas Revised Civil Statutes. (b) City Contributions (1) For Group III and Group IV Members only, effective October 1, 2010, the City shall contribute to the Fund twenty and forty-six one hundredths (20.46) percent of their Earnings. For all other Members, effective October 1, 2010, the City shall Contribute to the Fund nineteen and seventy-four one hundredths (19.74) percent of their Earnings. Notwithstanding the foregoing, City contribution to the Fund shall be reduced for each Fiscal Year by the amount of benefits paid by the City, if any, under the Supplemental Retirement Ordinance. Section 2.5-3(a) shall not limit the right of the Governing Body, through its budget appropriation, to contribute an additional amount over and above the Member's contribution in accordance with Article 62431 of the Texas Revised Civil Statutes, as amended. (2) If, following a Member's involuntary Termination of Employment, the City is required, as the direct result of an appeal or suit arising from the involuntary termination, to reinstate the Member's employment, the City shall make the contribution described in this Section on any payment by the City to the Member as back pay, without reduction for the Member's interim Earnings, if any. In addition, the City shall, on behalf of the Member, make the Member's contribution described in Section 2.5-3 above on any interim Earnings deducted from the back-pay award. Contributions made by the City on behalf of Members whose employment is reinstated following a military leave of absence are governed by the Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. §§4301-33, as provided for in Section 2.44(a)(4). (3) Effective for pay periods ending after April 1, 1999, the required Member contributions described in Section 2.5-3(a) shall be picked up by the City and shall be treated as City contributions for federal income tax purposes. Such contributions, although designated as Member contributions, shall be paid by the City on behalf of the Ordinance No, 20471-10-2012 Page 10 of 92 Members and in lieu of contributions by the Members. The Members shall not have the option of receiving such contributions directly instead of having such amounts paid by the City to the Fund. (4) Retirement contributions made on behalf of the Members, as well as the City's contributions to the Fund, shall be paid by the City based on weekly workers compensation benefits (currently referred to as a temporary income benefits) paid to those Members, beginning for such amounts received by Members on or after January 1, 2006. (5) Although effective October 1, 2013, overtime will not be included in the definition of Earnings for Group I and Group III Members, the City will continue to contribute its contribution on overtime for all Group I and Group III Members. Sec. 2.5-4. Credited Service (a) Service Breaks. Pension credits shall be granted for all Credited Service for which a Member of the Fund receives employment compensation from the City, subject to the following regulations pertaining to service breaks: (1) Authorized service breaks of ninety (90) or less consecutive calendar days without pay shall not be deducted from Credited Service. (2) Except as provided below, periods of absence in excess of ninety (90) consecutive calendar days without pay shall be deducted from Credited Service, and no contributions shal l be made by Members or by the City during such periods. (3) An absence of any period shall be permitted without loss of prior Credited Service, unless the Member receives a distribution of his or her total contributions, plus Regular Interest, and any period of absence shall cancel all prior Credited Service if the Member receives a distribution of the Member's total contributions, plus Regular Interest; however, if a Member is absent, the Member may regain prior Credited Service by repaying the total amount of all contributions withdrawn, plus Regular Interest thereon (at the Regular Interest rate in effect on the date of repayment), less the amount received in from the Member's Cash Balance Account, from the date of withdrawal to the date of repayment, pursuant to policies adopted by the Board under one (1) of the two (2) following options: a. Repay in a single lump sum payment within ninety (90) days of reemployment, or b. Repay through a payroll deduction pay-back plan which commences within ninety (90) days of reemployment, and provides that Regular Interest will be charged throughout the pay-back period and that the repayment period will not exceed seven (7) years. Ordinance No.20471-10-2012 Page 11 of 92 A rehired Member who does not timely elect one (1) of these two (2) options and timely repay the prior contributions (plus Regular Interest) will waive his or her right to prior Credited Service. An existing rehired Member on the date this provision is added to the retirement ordinance shall have until October 31, 1999 to elect one (1) of the above repayment options or waive his or her right to prior Credited Service. Members who received a reFund of the proceeds in their Cash Balance Account are not required to repay that amount to regain Credited Service under this provision. A reFund of the proceeds in the Cash Balance Account is irrevocable and the Member cannot pay back the amount received to restore their original Cash Balance Account. (4) Effective on or after December 12, 1994, any Member who is reemployed by the City upon completion of service in the uniformed services (within the time frame provided under the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended), shall be granted Credited Service for such unifonned service, provided the Member makes the contributions (with no interest) to the Fund that the Member would have been required to contribute if the Member had remained continuously employed by the City throughout the period of uniformed service. Such payment must be made during the period which commences with the date of reemployment by the City and which duration is three (3) times the period of the Member's service in the uniformed services, not to exceed five (5) years. If a reemployed Member makes such contributions, the City shall also make its corresponding contributions to the Fund. This provision shall be construed consistently with the requirements of the Uniformed Services Employment and Reemployment Act of 1994, as amended. (5) Any Member whose employment was terminated involuntarily and was thereafter reinstated as the direct result of an appeal or suit arising from the involuntary termination shall be granted all Credited Service for the period of absence. (b) Accumulated Sick Leave and Major Medical Leave. At retirement and in calculating a Vested Termination Pension, a Member shall have added to his or her Credited Service, subject to the provisions of this Section, any hours of accumulated sick leave and/or unused major medical leave, as recorded in the official personnel records of the City, for which that employee has not received compensation. Notwithstanding the preceding sentence, accumulated sick leave and/or unused major medical leave shall not be taken into account to increase the pension of a Member receiving a Line of Duty disability pension. For Credited Service purposes, such accumulated sick leave hours and/or unused major medical leave for which a Member shall not receive compensation shall be converted into months using the following formula: total number of hours accumulated uncompensated sick leave and/or unused major medical leave divided by the Member's total scheduled hours of work for the year and multiplied by twelve (12). The resulting product represents the number of months in whole numbers and/or a decimal fraction of a month, and any whole number shall constitute that number of months to be added to Credited Service. If the resulting product contains a decimal value that is less than five-tenths (0.50), then no addition to Credited Service shall be made with respect to such decimal value, however, if the resulting product contains a decimal value that is five-tenths (0.50) or greater, then an additional month of Credited Service shall be provided for such decimal value. The addition of such Ordinance No. 20471-10-2012 Page 12 of 92 accumulated sick leave and/or unused major medical leave to Credited Service shall not be applied toward determination of retirement eligibility, but only toward calculation of Retirement Benefits. Group I Members and Group III Members who have unused accumulated sick leave and major medical that was earned prior to October 1, 2013 will have the leave added to credited service earned or purchased prior to October 1, 2013. Unused accumulated sick leave and major medical earned on or after October 1, 2013 will be added to credited service earned or purchased after October 1, 2013. Group I Members and Group Ill Members who use their accumulated sick leave and/or major medical leave prior to retirement will have the leave deducted from accumulated sick leave and major medical hours carried prior to October 1, 2013 first. (c) Permissive Service Credits. (1) General. Effective on or after October 1, 2002, a Member who has Earnings from the City for the then current year may elect to purchase Permissive Service Credits and have his or her period of Credited Service increased for purposes of calculating the Member's Retirement Benefit, pursuant to the provisions of this Division . The Actuary shall prepare factors which shall be used to determine the voluntary additional contributions that a Member must make to purchase Permissive Service Credits, provided, however, that in no event shall a Member be required to contribute an amount that exceeds the amount necessary to Fund the benefit attributable to the additional Credited Service that is purchased. (2) Limitations. A Member may purchase up to five (5) years of Permissive Service Credits that are attributable to non-qualified service, and a Member cannot purchase any Permissive Service Credits for non-qualified service prior to completion of five (5) years of participation as a Member. (3) Non-Qualified service. For purposes of Section 2.54(c), the term "non-qualified service" means service other than (1) service (including parental, medical, sabbatical, and similar leave) as an employee of the government of the United States, any state or political subdivision thereof, or any agency instrumentality of any of the foregoing (other than military service or service for credit which was obtained as a result of the repayment described in Section 415(k)(3) of the Code), (ii) service (including parental, medical, sabbatical, and similar leave) as an employee (other than as an employee described in clause(i) above) of an education organization described in Section I 70(b)(1)(A)(ii) of the Code which is a public, private, or sectarian school which provides elementary or secondary education (through grade 1.2), as determined under state law, (111) service as all employee of an association of employees who are described in clause (i) above, or (iv) military service (other than qualified military service under Section 414(u) of the Code) recognized by such goverru-nental plan. In the case of service described in clauses (i), (ii), or (iii) above, such service will be non-qualified service if recognition of such service would cause a Member to receive Retirement Benefits for the same service under more than one (1) plan. (4) Purchase of'Permissive Service Credits. A Member may purchase Permissive Service Credits pursuant to the rules, procedures and forms as may be adopted and Ordinance No.20471-10-2012 Page 13 of 92 amended by the Board in its complete discretion, which shall be uniform and nondiscriminatory and which shall be interpreted in a manner that is consistent with the provision of the retirement ordinance and applicable law. Permissive Service Credits may be purchased by a Member's direct payment to the trustee of the amount determined by the factors provided by the Actuary, or through a trustee to trustee transfer of such amount from the Member's account under an eligible deferred compensation plan (as defined in Code Section 457) or a qualified plan within the meaning of Code Section 401(a), including a 401(k) plan, or the Member's annuity contract meeting the requirements of Code Section 403(b). See. 2.5-5. Administration (a) The Board of Trustees. The Fund shall be administered by the Board. The Board shall consist of thirteen (13) Trustees designated as Place 1, Place 2, Place 3, Place 4, Place 5, Place 6, Place 7, Place 8, Place 9, Place 10, Place 11, Place 12, and Place 13, respectively. A Trustee's term shall be for two (2) years, subject to this Section. Trustees shall be elected as follows: (1) Trustees Elected by Employees. Four (4) Trustees who are Vested, participating Members of the Fund, as defined by Article 62431 of the 'Texas Revised Civil Statutes, shall be elected by the employees of the City, who are also Members of the Fund; said Trustees shall serve in Places 1, 2, 3, and 4 respectively. Each of the Trustees shall be elected by one (1) of the employee groups as follows: Place 1. The Trustee for Place I shall be elected from Group A, which shall consist of those Members of the Fund who are employed as Group III and Group IV Members as defined by this Division. Only Group III and Group IV Members who qualify for Employee Group A shall be eligible to vote for a nominee for Place 1. Only Group III and Group IV Members who qualify for Employee Group A shall be eligible to serve in Place I on the Board. Place 2. The Trustee for Place 2 shall be elected from Group B, which shall consist of those Members of the Fund who are employed as Firefighters. Only Firefighters who qualify for Employee Group B shall be eligible to vote for a nominee for Place 2. Only Firefighters who qualify for Employee Group B shall be eligible to serve in Place 2 on the Board. Place 3. The Trustee for Place 3 shall be elected from Group C, which shall consist of those Group I and Group 11 Members who are assigned to work in the following departments: Water, Planning and Development, Budget, Financial Management Services, City Manager's Office, City Secretary, Human Resources, Internal Audit, City Attorney's Office, and Municipal Court, including the Marshal's Office. Group C shall also include Group I and Group 11 Members assigned to work in the Police Department who are not eligible to vote for a nominee for Place 1. Only Group I and Group 11 Members who qualify for Employee Group C shall be eligible to vote for a nominee for Place 3. Group I and Group 11 Members who qualify for Employee Group C shall be eligible to Ordinance No. 20471-10-2012 Page 14 of 92 serve in Place 3 on the Board. Place 4. The Trustee for Place 4 shall be elected from Group D, which shall consist of those Group I and Group 11 Members who are assigned to work in the following departments: IT Solutions, Housing and Economic Development, Library, Parks and Community Service, Public Events, Aviation, Code Compliance, Equipment Services, and Transportation and Public Works. Group D shall also include Group I and Group I1 Member assigned to work in the Fire Department who are not eligible to vote for a nominee for Place 2. Only Group I and Group 11 Members who qualify for Employee Group D shall be eligible to vote for a nominee for Place 4. Only Group I and Group lI Members who qualify for Employee Group D shall be eligible to serve in Place 4 on the Board. a. Term. In accordance with the nomination and election procedures prescribed in this Section, Trustees shall be elected to Places 1, 2, 3, and 4, and shall serve for a two (2) year term, subject to the following provisions. Trustees for Places 1 and 3 shall be elected every odd numbered year beginning in 2007, and shall serve from September 1 of such odd numbered year through August 31 of the next odd numbered year. Trustees for Places 2 and 4 shall be elected in 2007 to serve a term from September 1, 2007 through August 31, 2008. Thereafter, the Trustees for Place 2 and 4 shall be elected every even numbered year and shall serve from September I of such even numbered year through August 31 of the next even numbered year. Should the employment status of any Member elected Trustee change so that said Trustee is no longer a Member of the employee group from which the "Trustee was elected, then said Trustee shall automatically forfeit the office of Trustee. Should a vacancy occur, for whatever reason, in Place 1, 2, 3, or 4, during the term thereof, then a majority of all Trustees remaining on the Board shall appoint to the Board a qualified Member from the employee group whose place has been vacated, which qualified Member shall serve the remainder of the unexpired term; provided, however, that if, at the time the vacancy arises, more than one (1) year remains in the unexpired term, then in lieu of the Board appointing a replacement Trustee, there shall be an election pursuant to the nomination and election provisions set forth below, with the Board making reasonable modifications in the dates and time frames for the nomination and election in light of the time of the vacancy. b. Method of Nominating Members For Election. Nominations of Members for election to the Board shall be by petition only. Before May 31 of each election year, the Executive Director shall make available to Members of each employee group eligible to vote in the scheduled election petition forms with written instructions. Petitions containing the names of nominees shall be returned to the Executive Director prior to July I of said election year. Nominees may use copies of the petition form or may create their own petition forms, provided each page of each returned petition shall identify the name of the nominee, the department in which the nominee is employed, the Ordinance No. 20471-10-2012 Page 15 of 92 employee group of which the nominee is a Member, and the place on the Board for which the Member is being nominated. No person's name shall be placed upon the official ballot as a nominee unless that person is nominated by petition. Said nominating petition must contain the signature and employee number of at least seventy-five (75) Members of the employee group who are qualified to vote for said place on the date said petition is submitted to the Executive Director. Only those employees who are Members of the Fund shall be entitled to be listed upon the official ballot as a nominee. No person's name shall be placed upon the official ballot as a nominee for Place I unless that person is a Member of Employee Group A. No person's name shall be placed upon the official ballot as a nominee for Place 2 unless that person is a Member of Employee Group B. No person's name shall be placed upon the official ballot as a nominee for Place 3 unless that person is a Member of Employee Group C. No person's name shall be placed upon the official ballot as a nominee for Place 4 unless that per-son is a Member of Employee Group D. c. Method of Electing Member Trustees. The Executive Director shall provide for an election procedure as authorized by the Board, including but not limited to voting by mail, telephone, and electronic means, and which may be conducted by a third-party voting service, The Executive Director shall prepare an official ballot for each place, listing in alphabetical order according to surname the nominees for election to that place. If, however, there is only one (1) nominee for any place, there shall be no election for that place, and such nominee shall automatically be elected to the Board. Only the names of those Members who are nominated by petition as prescribed herein shall be placed upon the official ballot. No Member shall be elected as a Trustee whose name does not appear upon the official ballot as a nominee. Ballots shall be made available to the Members no later than July 20 of the election year. Each Member qualified to vote in said election shall vote for one (1) nominee only. Any ballot containing votes for two (2) or more persons, or for persons who are not nominees as prescribed herein, shall be declared invalid, and shall not be counted. All ballots must be cast no later than August 15. Votes cast by written ballot must be returned no later than August 15 of the election year. If the ballot is returned by mail, the envelope must be postmarked by August 15 of the election year. The Executive Director or a designated third party shall tabulate all votes for all nominees. The nominee for each place who receives a majority of the votes cast for that place shall be declared elected to the Board. Following the tabulation of votes, the Executive Director shall submit the results to the Board at a meeting to be held before September I of said election year, at which time the Board shall canvass the results of said election and certify which nominee is elected for each place on the Board. If, at the time of canvassing said results, the nominee receiving the majority of votes for said place is no longer eligible to serve in the place to which that nominee was elected, then the nominee finishing second in the election shall be certified by the Board as elected to the Board. Ordinance No. 20471-10-2012 Page 16 of 92 If there is more than one (1) nominee and no nominee receives a majority of the votes cast for any one (I) place, or if there is a tie for any one (I) place, then a run-off election shall be held, with ballots made available to the Members qualified to vote for that place no later than September I of the election year, and in the same manner as prescribed for the first election. Only the names of candidates who tied for the highest number of votes cast for that place in the first election, or the two (2) candidates who received the highest number of votes with neither having a majority of votes cast for that place, shall be printed on the ballot for the run-off election. All ballots for the second election must be cast by September 20 of the election year. Votes cast by written ballot must be returned by September 20. If a ballot is returned by mail, the envelope must be postmarked by September 20. The Executive Director or a designated third party shall tabulate the votes for the candidates in the run-off election. The candidate receiving the highest number of votes cast for that place in the run-off election shall be declared elected to the Board. In the event of a tie vote at the second election, the candidates who tie shall cast lots in the presence of the Board to determine which one (1) shall be declared elected. Following the tabulation of votes in the run-off election, and the casting of lots in case of ties, the Executive Director shall submit the results of same to the Board at a meeting to be held before November I of said election year, at which time the Board shall canvass the results of the run-off election and certify which nominee is elected to the Board. If, at the time of canvassing the results of the run-off election, the nominee elected to serve on said Board is no longer eligible to serve in the place to which he or she was elected, then the nominee finishing second in the election shall be certified by the Board as elected to the Board. (2) Trustees Elected by Retired Members. Place S. The Trustee for Place 5 shall be elected by Retiree Group B, which shall consist of those retired Members of the Fund from Employee Group B. Only Members of the Fund who qualify for Retiree Group B shall be eligible to vote for a nominee for Place 5. Only Members of the Fund who qualify for Retiree Group B shall be eligible to serve in Place 5 on the Board. Place 6. The Trustee for Place 6 shall be elected by Retiree Group A, which shall consist of those retired Members of the Fund from Employee Group A. Only Members of the Fund who qualify for Retiree Group A shall be eligible to vote for a nominee for Place 6. Only Members of the Fund who qualify for Retiree Group A shall be eligible to serve in Place 6 on the Board. Place 7. The Trustee for Place 7 shall be elected by Retiree Group C, which shall consist of those retired Members of the Fund from Employee Groups C and D. Ordinance No.20471-10-2012 Page 17 of 92 Only Members of the Fund who qualify for Retiree Group C shall be eligible to vote for a nominee for Place 7. Only Members of the Fund who qualify for Retiree Group C shall be eligible to serve in Place 7 on the Board. a. Term. In accordance with the nomination and election procedures prescribed in this Section, a Trustee shall be elected for Places 5, 6 and 7, and shall serve for a two-year ten-n. The Trustee for Place 6 shall be elected to serve a term from September 1, 2007 through August 31, 2008. Thereafter, the Trustee for Place 6 shall be elected every even numbered year and shall serve from September I of such even numbered year through August 31 of the next even numbered year. Trustees for Places 5 and 7 shall be elected every odd numbered year beginning in 2007, and shall serve from September 1 of such odd numbered year through August 31 of the next odd numbered year. Should a Trustee for Place 5, 6, or 7 return to City employment and again become an employee Member of the Fund, the Trustee shall automatically forfeit the office of Trustee for Place 5, 6, or 7. Should a vacancy occur in Place 5, 6 or 7, during the term thereof, then a majority of all Trustees remaining on the Board shall appoint to the Board a retired Member of the applicable Retiree Group, to serve the remainder of the unexpired term. b. Nomination of Retired Members for Election. Nomination of retired Members for election to the Board shall be by letter of nomination only. Before May 31 of each election year, the Executive Director shall make available to retired Members official letter of nomination forms with written instructions. Copies of the letter of nomination may be used. Completed letters of nomination shall be returned to the Executive Director prior to July I of each election year. Each returned letter of nomination shall identify the retired Member being nominated and the place for which the retired Member is being nominated and must contain the signature and the last four (4) digits of the Social Security Number of the retired Member making the nomination. Any Member of Retiree Group A receiving at least twenty-five (25) nominations from Retiree Group A shall be considered a nominee for election to Place 6 on the Board. Any retired Member of Retiree Group B receiving at least twenty-five(25) nominations from Retiree Group B shall be considered a nominee for election to Place 5 on the Board. Any Member of Retiree Group C receiving at least twenty-five (25) nominations from Retiree Group C shall be considered a nominee for election to Place 7 on the Board. No person shall be placed on the ballot as a nominee unless the person is a retired Member who is nominated by the process detailed above. c. Election of"Retired Board Members. The Executive Director shall provide for an election procedure as authorized by the Board, including but not limited to voting by mail, telephone, and electronic means, and which may be conducted by a third-party voting service. The Executive Director shall prepare official ballots for the election of the retired Board Members, listing the nominees in alphabetical order by surname. Ballots for election of retired Ordinance No.20471-10-2012 Page 18 of 92 Board Members shall be made available to all retired Members in Retiree Group A, B and C no later than July 20. If there is only one (1) nominee for Place 5, there shall be no election for Place 5 and the one (1) nominee shall automatically be elected to the Board. If there is only one (1) nominee for Place 6, there shall be no election for Place 6 and the one (1) nominee shall automatically be elected to the Board. If there is only one (1) nominee for Place 7, there shall be no election for Place 7 and the one (1) nominee shall automatically be elected to the Board. No person shall be elected as Trustee whose name does not appear on the official ballot as a nominee. To be considered valid, a ballot must be cast no later than August 15 of the election year. Votes cast by written ballot must be returned no later than August 15 of the election year. If the ballot is returned by mail, the envelope must be postmarked by August 15 of the election year. Each retired Member qualified to vote in the election shall vote for one (1) nominee only. Any ballot containing votes for two (2) or more persons, or for persons who are not nominees as provided herein, shalt be declared invalid and shall not be counted. The Executive Director or a designated third party shall tabulate all votes for all nominees. The nominees for each place receiving a majority of votes cast shall be declared elected to the Board of Trustees. Following the tabulation of votes, the Executive Director shall submit the results of same to the Board meeting to be held before September I of the election year, at which time the Board shall canvass the results of the election and certify which nominees are elected to the Board. If, at the time of canvassing the results, a nominee receiving the majority of votes is no longer eligible to serve, then the nominee receiving the second highest number of votes from the appropriate retiree group will fill Place 5, 6 or 7 on the Board. That Member shall serve from September I of the election year through August 31 of the next election year for that Place. If there is more than one (1) nominee for a place and no nominee receives a majority of the votes cast, or if there is a tie, then a run-off election shall be held, with ballots made available to the retired Members for that place no later than September I of the election year and in the same manner as prescribed for the first election. Only the names of candidates who tied for the highest number of votes cast for that place in the first election, or the two (2) candidates who received the highest number of votes with neither having a majority of votes cast, shall be printed on the ballot for the run-off election. All ballots for the second election must be cast by September 20 of the election year. Votes cast by written ballot must be returned by September 20 of the election year, If a ballot is returned by mail, the envelope must be postmarked by September 20 of the election year. The Executive Director or a designated third party shall tabulate the votes for the candidates in the run-off election. The candidate receiving the highest number of votes cast in the run- off election shall be declared elected to the Board of Trustees. In the event of a tie vote at the second election, the candidates who tie shall cast lots in the presence of the Board of Trustees to determine which one (1) shall be Ordinance No. 20471-10-2012 Page 19 of 92 declared elected. Following the tabulation of votes in the run-off election, and the casting of lots in case of ties, the Executive Director shall submit the results of same to the Board at a meeting to be held before November I of said election year, at which time the Board shall canvass the results of the run-off election and certify which nominee is elected to the Board. If, at the time of canvassing the results of the run-off election, the nominee elected to serve on said Board is no longer eligible to serve, then the nominee receiving the second highest number of votes from the appropriate retiree term will fill Place 5, 6 or 7 on the Board. That Member shall serve from September I of the election year to August 31 of the next election year for that place. (3) Trustees.Appointed by the Governing Body. Place 8. The Trustee for Place 8 shall be a resident of the City. A person appointed under this Section may not be a Member of the Governing Body. The Trustee for Place 8 shall be appointed by a majority vote of the Governing Body to serve a term initially commencing September 1, 2007 and ending August 31, 2008. Thereafter, the pet-son appointed by the Governing Body shall serve a term of two (2) years (unless removed sooner by a majority vote of the Governing Body) commencing on September I of every even numbered year and ending August 31 of the next even numbered year. Should a vacancy occur in Place 8, then Governing Body, by majority vote, shall appoint another eligible resident of the City to serve the remainder of the unexpired term. Place 9. The Trustee for Place 9 shall be a resident of the City. A person appointed under this Section may not be a Member of the Governing Body. The Trustee for Place 9 shall be appointed by a majority vote of the Governing Body to serve a term of two (2) years (unless removed sooner by a majority vote of the Governing Body) commencing on September I of every odd numbered year through August 31 of the next odd numbered year. Should a vacancy Occur in Place 9, then Governing Body, by a majority vote, shall appoint another eligible resident of the City to serve the remainder of the unexpired term. Place 10. The Trustee for Place 10 shall be a resident of the City. A person appointed under this Section may not be a Member of the Governing Body. The Trustee for Place 10 shall be appointed by a majority vote of the Governing Body to serve a term initially commencing on September 1, 2007, and ending August 31, 2008. Thereafter, the person appointed by Governing Body shall serve a term of two (2) years (unless removed sooner by a majority vote of the Governing Body) commencing on September I of every even numbered year through August 31 of the next even numbered year. Should a vacancy occur in Place 10, then Governing Body, by a majority vote, shall appoint another eligible resident of the City to serve the remainder of the unexpired ten-n. Ordinance No. 20471-10-2012 Page 20 ot'92 Place I]. The Trustee for Place I I shall be a resident of the City. A person appointed under this Section may not be a Member of the Governing Body. The Trustee for Place I I shall be appointed by a majority vote of the Governing Body to serve a term of two (2) years (unless removed sooner by a majority vote of the Governing Body) commencing on September I of every odd numbered year through August 31 of the next odd numbered year. Should a vacancy occur in Place 11, then Governing Body, by a majority vote, shall appoint another eligible resident of the City to serve the remainder of the unexpired term. Place 12. The Trustee for Place 12 shall be a resident of the City. A person appointed under this Section may not be a Member of the Governing Body. The Trustee for Place 12 shall be appointed by a majority vote of the Governing Body to serve a term initially commencing September 1, 2007, and ending August 31, 2008. Thereafter, the person appointed by Governing Body shall serve a term of two (2) years (unless removed sooner by a majority vote of the Governing Body) commencing on September I of every even numbered year and ending on August 31 of the next even numbered year. Should a vacancy occur in Place 12, then the Governing Body, by a majority vote, shall appoint another eligible resident of the City to serve the remainder of the unexpired term. Place 13. The Trustee for Place 13 shall be the chief financial officer of the City. Should a vacancy occur in Place 13, then Governing Body, by a majority vote, shall appoint a qualified person to serve until a new chief financial officer is appointed. (4) General provisions. (a) The Members of the Board shall remain in office until their successors are duly elected or appointed. (b) At its September meeting, the Board shall elect from its membership a chair and a vice chair to serve for one (1) year. (c) The Board shall serve without remuneration and shall meet not less than once a month and may meet at any time that the business of the Fund shall require it. The chair shall have the power to call a meeting at any time necessary to carry out the business of the Fund. (d) Seven (7) Members of the Board shall constitute a quorum to transact any business unless there are vacancies, in which event the quorum shall be reduced by the number of vacancies existing. Every matter before the Board for vote shall require the affirmative vote of a majority of the Trustees on the Board (regardless of the number of Trustees present at the Board meeting) for final passage. (e) The Board shall have the power and duty to administer the Fund and to make and establish any and all rules, regulations and procedures pertaining to the Fund Ordinance No. 2047 1-1 0-20 1 2 Page 21 of 92 not inconsistent with this ordinance and applicable law. (f) The Board shall have the power, as it deems necessary and appropriate to carry out the purposes of the Fund, to retain, enter into contracts and pay from Fund assets for professional services, including, but not limited, to the following: actuaries, accountants, attorneys, administrators, consultants, directors and investment managers or advisors. (g) The Board shall have the power, as it deems necessary and appropriate to carry out the business of the Fund, to enter into contracts, agreements and arrangements to facilitate the administration of the Fund, and to pay for the costs and expenses of such business and administration out of Fund assets. (h) The Board has discretion to make all determinations regarding the eligibility of Members or other persons for benefits from the Fund and the amount and payee thereof, not inconsistent with this ordinance and applicable law. Therefore, its decisions shall be final, binding and conclusive on all persons. (i) In construing this ordinance, the provisions of the Texas Trust Code shall apply to the extent that they do not differ from this Chapter . Section 2.5-6. Annual Actuarial Valuations (a) The Board shall appoint an Actuary for the purpose of providing annual valuations of the retirement Fund. The Actuary shall also serve as a technical advisor to the Board and the Executive Director regarding the operations authorized by this Chapter. The actuarial assumptions and tables used by the Actuary shall assume such costs, liabilities, rates of interest, mortality, turnover and other factors as are reasonable, taking into account the experience of the Fund and reasonable expectations, and shall be subject to Board approval. At least thirty (30) days before the date the Board adopts actuarial assumptions to be used by the Fund, the Board shall submit to the City Council a detailed report regarding the proposed actuarial assumptions. The report must include the fiscal impact of the proposed actuarial assumptions on the Fund. (b) The City shall engage an independent Actuary every five years to perform an audit of the actuarial valuations, studies, and reports of the Fund in accordance with the provisions of Section 802.1012 of the Texas Government Code, as amended. Sec. 2.5-7. Disability Pension (a) De nition of Disabled Member. A Member is disabled (or continues to be disabled) if, because of bodily injury, disease or mental illness, the Member is incapacitated for life, in spite of reasonable accommodations by the City, from performing the essential functions of (i) the trade, profession or occupation in which the Member was employed by the City when the Member suffered the bodily injury, disease, or mental illness and (ii) any other position which the Board determines to be reasonably comparable to the position held by the Member, taking into account the Member's education, qualifications, experience, salary and other factors which Ordinance No. 20471-10-2012 Page 22 of 92 the Board deems appropriate; provided, however, that no physical condition existing at the time of entry into the Fund shall be a basis for a disability pension prior to vesting. (b) General Provisions. (1) Such disability must exist for at least ninety(90) consecutive days prior to application for a disability pension. (2) Such disability must not have been contracted, suffered or incurred while the Member was engaged in, or did not result from the Member having engaged in, a criminal enterprise, or from habitual drunkenness, addiction to narcotics, self-inflicted injury, or from voluntary or involuntary service in the Armed Forces of the United States (including the United States Merchant Marine), any of its allies or any other foreign country. (3) Notwithstanding the provisions of Sections 2.5-26, 2.5-36, 2.5-46, 2.5-56 and 2.5-66, no disability pension shall, at the time of commencement, exceed the Member's rate of Earnings. (4) To assist the Board in making disability determinations, the City shall provide the Executive Director with City job descriptions and qualifications, related salary ranges, and other appropriate information as requested. (5) Continuation of a disability pension, whether granted before or after the enactment of this Article, shall be subject to all the provisions of this Section, including review and determination of the Member's eligibility for a disability pension. (c) Qualification for Disability Pension. (1) A Member shall not qualify for a disability pension as hereinafter provided unless one (1) or more duly licensed and practicing physician(s) appointed by the Executive Director has determined that the Member is not capable of performing the essential functions of the positions identified under this Section. Deten-nination of the existence of disability shall not be made until ninety (90) days after the date such disability is alleged to have commenced, and benefits shall not commence before the first day of the month following the month in which such ninety-day period ends. (2) The Executive Director shall have the appointed physician(s) conduct an annual medical examination after a disability pension has been granted (unless deemed not necessary by the Executive Director due to the Member's medical condition) and at any other time deemed necessary by the Board in order to determine whether the disability is continuing. The Fund will pay the expenses for medical examinations directed by the Executive Director or Board. To continue to receive a disability pension, the Member shall submit to any medical examination required by the Executive Director or Board. (3) If at any time the Board is in reasonable doubt as to whether the Member is disabled as above defined, it may suspend the disability pension until the doubt is resolved, which Ordinance No. 20471-10-2012 Page 23 of 92 shall occur within a reasonable time. Any disability pension shall be tenninated upon the Board's determination that the Member is not disabled as defined in this Section. (4) No disability pension coverage shall be provided during a service break in excess of ninety (90) consecutive days unless the service break was caused by sickness or accident leading to total disability. (5) The disability pension specified herein shall not be payable during any period for which wages are received from the City, the State of Texas or any other branch of government while performing the duties of a Firefighter or Peace Officer. (6) Falsification or omission on any part of the employment application of prior conditions or injuries for which a disability pension is or has been sought, falsification or omission on any part of the disability pension application, or falsification or omission in connection with the continuation of a disability pension shall constitute grounds for denial of a disability pension or for revocation of any disability pension previously granted. (7) The Board's determination on all matters concerning the granting, refusing or revoking of a disability pension shall be final and conclusive on all parties, and no appeal can be made therefrom. A Member is entitled to a reasonable hearing (at which the Member may appear in person, with or by a representative, or in writing) before the Board makes its determination. (8) No disability pension shall he granted (or continued) while the Member is working for the City; provided however, a Member may be granted a disability pension if the Executive Director or the Board has been informed by the City that the Member's employment is about to be terminated by the City because of the Member's inability to perform the essential functions of the Member's position. Any such disability pension granted under Section 2.57(c)(8) shall not become effective until the month after the Member has stopped working for the City. (9) Except as otherwise provided by law, to be eligible to continue receiving a disability pension, a Member must have complied with the medical recommendations (including rehabilitation therapy and treatment) as prescribed by the Member's treating physician(s), the physician(s) appointed by the Executive Director and/or the Texas Rehabilitation Commission. (d) Calculation of Disability Pension. The calculation for disability pension can be found in the following Sections: (1) Section 2.5-26 for a Group III Member; (2) Section 2.5-36 for a Group IV Member; (3) Section 2.5-46 for a Group I Member; Ordinance No. 20471-10-2012 Page 24 of 92 (4) Section 2.5-56 for a Group 11 Member; (5) Section 2.5-66 for a Firefighter. (e) Recovery from Disability. If the Board determines that a disabled Member receiving a disability pension hereunder is no longer disabled as above defined, the Member's disability pension shall immediately cease. If such Member is re-employed by the City immediately following such determination by the Board, the Member's Fund membership shall be reinstated as of the date of such re-employment, with full Credited Service to the date of disability. The Member shall receive no additional Credited Service for the period of disability, provided however, that such period of disability shall be used to determine attainment of Normal Retirement Date and special retirement date. If such Member is not re-employed by the City immediately following certification of recovery, the Member shall be considered as a terminated Fund Member and shall have no farther interest in the Fund other than a reFund of any excess of the Member's total contributions, plus Regular Interest (at the Regular Interest rate in effect on the date of any reFund), less the amount already received from the Member's Cash Balance Account, if applicable, over the total of disability payments made to the Member; provided, however, that if such Member had a Vested interest in pension Credits as of the date of which the Member was certified disabled, the Member shall receive a Vested Termination Pension from the later of the date of certification of recovery or attainment of the Vested Retirement Date under Section 2.5-24, 2.5-34, 2.5-44, 2.5-54, or 2.5-64 whichever is applicable, equal to the amount which would have been payable under the provisions of this Section had the Member terminated employment on the date the disability pension began. Any death benefits thereafter shall be determined in accordance with the applicable provisions of this Article. (f) Report of Earned Income or Net Earnings from Self-Employment. Any disabled Member who has not attained Normal Retirement Date or special retirement date and who is receiving a disability pension shall submit to the Executive Director prior to May I of each year following disability retirement a copy of the Member's signed income tax return filed for the preceding year, with all attachments thereto, along with all tax returns and attachments for all of the Member's affiliated entities, including, but not limited to, partnerships, corporations or other entities in which the Member, or any relative, owns any interest, including community or separate property, and for which the Member performs any services, whether compensated or not, as proof of the Member's Earned Income and net Earnings from self-employment for that year obtained from any occupation or employment. At the end of the first year of disability retirement and by May I of each subsequent year, a disabled Member shall also submit to the Executive Director an affidavit on the Executive Director's approved form swearing that the Member's Earned Income and net Earnings from self-employment are fully disclosed on the tax returns provided to the Executive Director and that the disabled Member has not received any other compensation, directly or indirectly, for services rendered by the disabled Member, nor performed any services for which the Member received no compensation except as disclosed in the affidavit, including amounts paid to other affiliated entities for the benefit of the disabled Member or to any relative of the disabled Member. If the Internal Revenue Service has approved an extension to file a tax return and the tax return has not been filed by May 1, the Member shall provide the Executive Director with a copy of the extension by May 1, and a copy of the tax Ordinance No.20471-10-2012 Page 25 of 92 return with all attachments and the related affidavit, within two (2) weeks after the tax return has been filed. If the disabled Member's total receipt of Earned Income, net Earnings from self-employment, and City disability pension exceed the annualized base hourly rate of pay the Member would have made during that same tax year had he or she remained employed by the City in the same position then, as soon as practicable, the Board shall reduce the amount of disability benefits to be paid to the Member. In reducing a Member's disability pension due to such excess Earnings, the Board shall consider the Member's then current Earnings, and attempt to recover the cumulative excess Earnings and preclude excess Earnings in the future. In the event that a Member's disability pension is reduced in excess of the amount required, the Board shall pay such excess to the Member. For purposes of Section 2.5-7(t), base hourly rate of pay shall not include overtime, acting, assignment, holiday, longevity, educational incentive, safety award, incentive, shift differential or any other special or premium pay. The Board shall with-hold a disabled Member's disability pension upon the Member's failure to submit on a timely basis the required income tax returns with all attachments thereto and related documents. If the disabled Member subsequently provides the required documentation by the end of the calendar year in which the return was due, the Board shall cause the Member's disability pension to be reinstated, subject to the other provisions of this Section, and including the payment of any previously withheld amounts, without interest. If the disabled Member fails to provide the required documentation by the end of the calendar year in which the return was due, the disabled Member's disability pension shall be terminated and the Member shall not be entitled to any payment for the period during which the documentation was not provided. For purposes of this Section, any amounts paid to a disabled Member's affiliated entity in connection with the performance of services by the disabled Member shall constitute "Earned Income," and any attempt to circumvent the limitations under this Article on Earned Income and Net Earnings from Self-Employment through the use of affiliated entities shall be grounds for the Board to terminate the disabled Member's disability pension. See.2.5-8. Cost of Living Adjustment (a) History. In 1999, City Council adopted Ordinance 13842, which established a guaranteed simple 2% cost of living adjustment for all Members. In 2007, City Council adopted Ordinance 1,7839-10-2007, which established an ad-hoc cost of living adjustment for all City employees hired on or after December 31, 2007, and all Members who were not vested as of December 31, 2007. All Members who were vested as of December 31, 2007, all retired Members, and all beneficiaries were allowed to make a selection to either stay with the two (2) percent simple cost of living adjustment or to receive the ad-hoc cost of living adjustment. The Members who did not make a selection were automatically defaulted into the two (2) percent cost of living adjustment. In 2011, City Council adopted Ordinance 19599-03-2011, which eliminated the cost of living adjustment for General Employees hired after July 1, 2011. According to the terms of this ordinance amendment, the cost of living adjustment is also eliminated for Group IV Members. Ordinance No. 20471-10-2012 Page 26 of 92 (b) Two Percent Simple Cost of Living Adjustment. (1) The two (2) percent cost of living adjustment is applicable to the following: a. Members who were vested as of December 31, 2007, who selected the guaranteed two (2) percent cost of living adjustment during the 2007 selection process; b. Members and Beneficiaries (including those receiving disability retirement and survivors [including children]) receiving benefits on December 31, 2007, who elected the guaranteed two (2) percent cost of living adjustment in the election conducted pursuant to the 2007 selection process; c. Vested Members and Beneficiaries who failed to make a selection during the 2007 selection process; d. Credited Service earned or purchased on or after October 1, 2013, for Group III Members, who were subject to the ad hoc cost of living adjustment; e. Credited Service earned or purchased on or after October 1, 2013, for Group I Members, who were subject to the ad hoc cost of living adjustment. (2) 2012 Selection Process a. Group I Members and Group III Members, who are under the ad hoc cost of living adjustment and are not currently receiving a benefit from the Fund will be allowed to make a one-time selection of the two (2) percent guaranteed simple cost of living adjustment for all Credited Service earned prior to October 1, 2013. The two (2)percent cost of living adjustment will be based on base pension on the date of retirement. b. Members and Beneficiaries currently receiving benefits who are tinder the ad- hoc cost of living adjustment will be allowed to make a one-time selection of the guaranteed two (2) percent cost of living adjustment for future years of benefits. The two (2) percent guaranteed cost of living adjustment will be based on base salary on the date of retirement. Members and beneficiaries currently receiving benefits who select the two percent cost of living adjustment during the 2012 selection process will retain the ad-hoc cost of living adjustments previously received, but will waive their rights to future ad-hoc cost of living adjustments. Instead, effective January 1, 2014, and annually thereafter, those members and beneficiaries will receive a two (2) percent cost of living adjustment by adding to the actual pension for that year, an amount equal to two (2) percent of his or her base pension. Active Firefighters, and those Firefighters who retired or separated from employment during the term of the April 13, 2010, Collective Bargaining Ordinance No. 20471-10-2012 Page 27 of 92 Agreement between the City and the Fort Worth Professional Firefighters Association IAFF Local 440, are not eligible to participate in the 2012 selection, however the City may permit a selection at the termination of the 2010 Collective Bargaining Agreement or by agreement in a subsequent Collective Bargaining Agreement. (3) Calculation of the Two Percent Simple Cost of Living Adjustment: Upon retirement, on the first day of each January a cost of living adjustment shall be made on the Base Pension of a Member Subject to the two (2) percent cost of living adjustment by increasing the amount of the actual pension by two (2) percent of the Base Pension, unless otherwise provided herein, To be eligible for a cost of living adjustment for a particular year, either the Member or any survivor must have been receiving benefits by September 30 of the prior year. (c) Ad Hoe Cost o 'Living Adjustment li (1) The ad hoc cost of living adjustment is applicable to the following: a. Credited Service until September 30, 2013 for Group I Members who were not vested as of December 31, 2007, and are not currently receiving a benefit pursuant to this Article, and who did not select to receive the two (2) percent simple cost of living adjustment during the 2012 Selection Process; b. Credited Service until September 30, 2013 for Group I Members who were vested as of December 31, 2007, who selected the ad hoc cost of living adjustment in the 2007 selection process, and are not currently receiving a benefit pursuant to this Article, and who did not select to receive the two (2) percent simple cost of living adjustment during the 2012 Selection Process; c. Credited Service until September 30, 2013 for Group III Members who were not vested as of December 31, 2007, and are not currently receiving a benefit pursuant to this Article, and who did not select to receive the two (2) percent simple cost of living adjustment during the 2012 Selection Process; d. Credited Service until September 30, 2013 for Group III Members who were vested as of December 31, 2007, who selected the ad hoc cost of living adjustment in the 2007 selection process, and are not currently receiving a benefit pursuant to this Article, and who did not select to receive the two (2) percent simple cost of living adjustment during the 2012 Selection Process; e. Firefighters who began service after December 31, 2007; f. Firefighters hired prior to December 31, 2007, who were not vested as of December 31, 2007; g. Firefighters who were vested as of December 31, 2007 who selected the ad Ordinance No. 20471-10-2012 Page 28 of 92 hoc cost ofliving adjustment; b Members and Beuefiobadcu [including those receiving disability retirement and survivors (including children)] receiving benefits under this /\dkclo who are tinder the ad hoc cost ofliving adjustment, and who did not elect to return to the guaranteed two (2) percent simple cost of living oJjuohncot during the 2012 aoiccx/ou. (2) Co/ru/o//ox of the /4d Hoc Cost »/L/v/ng Adjustment: Upon retirement, on the first day of each January thereafter, an ad hoc cost of living adjustment may be made on the pension of Members who are subject to the ad hoc cost of living adjustment pursuant to Section 2.5-0(u) an [oUovva: n. Prior to I)oosoubor 31 of each year, the Fund's Actuary shall nuukt u written report to the Board certifying the amortization period required to pay off the uoFnndcd aotuodu| accrued liability of the Fund. Based on the information provided hy the Actuary, the Board shall: l. Grant u compounded od hoc cost n[living adjustment of four (4) percent, if the Actuary certifies that the unuodizadoo period required to pay off the unFuudod ucUzoriu) accrued liability of the Fund, after granting the four (4) percent cost nf living adjustment, ia eighteen (]8.0) years ocless; 2. Grant a compounded nd hoc cost of living adjustment of three (3) percent, if the /\otuo,y oodifiou that the aroodizednu period required to pay off the uuFunded uoiuoda| accrued liability of the Fund, after granting the (brmc (3) percent coat of living ndiuotroeo(, in hetvvucn eighteen and one-tenth (\8.]) and twenty-four(24.0) years; 3. Grant a compounded ud hoc cost of living adjustment of two (2) percent, if the Actuary scr6fiem that the amortization period required to pay off the uoFuudnd no(uedo| accrued liability of the Fund, after Q7uuhug u two (2) percent cost of living adjustment, is between tv/coty-fournud one-tenth (24.1) and ivveoty-eiek\(28.0) years; 4. Grant no ad hoc cost of living adjustment if the Actuary certifies that the uozodizudou period required to pay off the uoFuodod actuarial accrued liability ofthe Food in twenty-eight and one-tenth (28.l) years ormore. (d) DROP and Cost of Living djuwtmemt. (l) If Momhxz elects the ad bno cost of living odium1cncut and by I}eoeonhcr 9l' 2007, the Member has completed at |euaL two (2) years of service after making u Z)[({)P Election, the Member's initial pension bcuofitupon retirement will also receive a2% cost of living adjustment for the l)}l(}P period before the Menuher made the ad hoc cost of living election. The ad boo cost of living mbuotmmuLa will apply for the Member's Ordinance No.2047l 10-2012 Page 29of02 remaining DROP period. (2) If a Member elects the two (2) percent cost of living adjustment, and by December 31, 2007, the Member has completed at least two (2) years of service after making the DROP Election, the Member's initial pension benefit upon retirement will also receive cost of living adjustments for the entire DROP period. (3) A Member who makes a DROP Election but who does not complete at least two (2) years of service after making the Drop Election will only be eligible to receive a cost of living adjustment after the Member's retirement, based on whether the Member is entitled to a cost of living adjustment. See. 2.5-9. Deferred Retirement Option Program (DROP) (a) General, In lieu of the Standard Pension Benefit or the Alternative Pension Benefit, a Member who has attained his or her Normal Retirement Date may elect to remain in active service with the City and to participate in the DROP. By making an election to participate in DROP, the Member's commencement of retirement pension benefits will be deferred until the Member's actual retirement and the Member will receive a lump sum payment [unless such person elects installment payments pursuant to Section 2.5-9(j)] of his or her DROP Account at the time the Member's actual retirement pension benefits commence. No interest on Earnings shall be paid on the lump sum payment. Once a Member makes a DROP Election and the DROP Election is approved by the Board, the DROP Election is irrevocable and is effective as long as the Member remains in active service with the City. Distribution of a Member's DROP Account will not be made, and commencement of the Member's retirement pension benefits will not begin, until the Member retires from the City. DROP shall be administered in accordance with the rules, procedures and forms as may be adopted and amended by the Board in its complete discretion, which shall be uniform and nondiscriminatory and which shall be interpreted in a manner that is consistent with the provisions of this Article and applicable law. (b) Procedure for DROP Election, A DROP Election shall be made in accordance with the rules, procedures and forms (including spousal consent, where applicable) as may be adopted by the Board. The election form adopted by the Board may be amended by the Board, and, except as otherwise provided by the Board, the election form in effect at the time of the Member's DROP Election is effective shall control all DROP benefits the Member may become entitled to receive upon retirement. A Member shall not be subject to any fees, charges, or any other similar expenses in connection with a DROP Election. (c) Timing and Irrevocability of a DROP Election. A Member may make a DROP Election at any time on or after the date that is sixty(60) days prior to the date that the Member will attain his or her Normal Retirement Date or special retirement date. Once effective, a Drop Election is irrevocable, provided, however, that a Member's DROP election shall not be effective until the Member attains his or her Normal Retirement Date. (d) The DROP Account. A Member's DROP Account is an individual account established on behalf of the Member into which a monthly amount will be credited once the Drop Election is Ordinance No. 20471-10-2012 Page 30 of 92 effective. The monthly amount credited to the Member's DROP Account will hoequal to the monthly pension benefit that the Member would have initially received if the Member had retired from the City and commenced his or her pension. Credits no u Member's [)BL()Y Account will continue k) hemade until the Member's actual retirement, provided, however, that amounts will be credited to o Member's OE({}P Account for umaximum Vf five(5) years. No vvi(hdruvvolu may bc made from the DROP Account. /\ Member will receive his or her DROP Account iuulump muro distribution at the time the Member's pension benefits commences upon ze(irrrocoL or` if elected by the Member, the [)BLOP /\oonuut will be distributed in ivatu})ooentm, as provided in Section 2.5-90). (e) Continued Contributions to the Fund. Once a DROP Election is t[fesdvc' both the Member and the City shall continue to make the same contributions to the Fund that would have been made if the Member had not made u DROP B|nc600. 74ciLbec the Member's nor the City's contributions to the Fund will be credited to the Member's DROP Account and the additional contributions will not affect the Member's monthly pension upon actual retirement. (D Monthly Pension and Ad floe Cost ofLiving Adjustment. Upon retirement following an effective DROP Election, the Member's Base Pension will bethe monthly pension heoufita that the Member had earned at the time the DROP Election hocumo effective. The h1crober'u Earnings and Credited Service following the DROP Election will not be included in calculating the Member's Base Pension and monthly pension benefits. If(and only if) a Member completes at least two (2) years of service with the City after his or her DROP Election is effective, then the monthly pension benefits that the Member initially receives opno retirement will be adjusted for intervening cost of living xdiuninueota, if applicable, as if the Member's nzootb1y pension had commenced at the time the DF{()P Election beounoc otbodvc Further, such u Member abu|l receive o cost of living udivairueot on the following January 1, regardless of whether the Member's pension benefits had commenced by September 30. Notwithstanding the preceding provisions of this Scodoo 2.5-9(f), when u Mcnuhur'u cuootbiy pension is initially scheduled to corocoeooe a( retirement ordeath, the Member's base pension mhu|| be recalculated by adjusting the Member's Credited Service for the Member's then accumulated sick leave and major rned(oai leave(if any) pursuant to Section 2.5-4(b). (u) DROP Election and 0cutb Psmaino. Ifu Member dies while his or her DROP Election is in effect, the Member's DROP Account aba}| be paid to the Member's spouse, or if there is no spouse, Lo the Member's estate. The spouse ocestate eligible tn receive the DROP Account shall receive the [>K()Y Account in u lump munu distribution, uolcao an o|oodno is nuudo to receive installment payments pursuant to this Section, The remaining portion o[the Member's pension sbuU be paid pursuant to the death pension provisions of this Article, with the amount determined umif the Member had died a1 the time of the DROP Election. (b) DROP 61ucdoo and Disability Pension. if u Member nnakom a DROP Election, the Member will not be eligible to receive a disability pension under this Article. If Member does hcooroe disabled fh)\ovviug an effective DROP Eiuodou, the Mcmhcz may rciino from the City and receive the arriount that has been credited to the Member's DROP Account in a lump sum or in iuutn||mueut puyoo*utn pursuant to Section 2.5-96), and ounnnneuce receipt of u nuoutb|y pension, with the amount of the pension calculated as if the Member had retired at the time the Ordinance No. 204?| 10'2012 Page 31 of 92 Z)R()P Election became effective. (i) Alternative ycuaiou Benefit. A Member who has made a DROP Election sbuU not be eligible to cicot an Alternative Pension Benefit. (j) lonte|boeot 9u}moeota. NohwdboLuodiog the preceding provisions of this Section, o Member who is entitled to receive u lump sum payment of his urher DROP Account may elect (on u600u adopted by the Board) to receive the DROP Account in five (5) substantially equal annual iva\u}\0000\ payments, cutbor than a \onup sum. The first inpiu|icoeot payment ubul| be made at the time the Member's monthly pension commences, and the other iumiullroouio nbu|l be nnudc on or about the anniversary of the initial inuto))nnooL No ioieceni on Earnings obu)| be paid on the installment payments. Sec. 2'5-1Q' Payment ofBenefits (a) When benefits are payable to u minor, an individual who has legally been determined to |ook capacity, or an individual whom tire Board doisoniueu to be uooh)e to baod|o money, the Board obu|\ make payments, without any duty to see to the application ibermmf, 1n the guardian of such poruou`o estate or, if there is none, an the Board dcienminen to he in the best interest of such person. (b) If u retired City cnny|oyoe who is receiving pension hroefi\o from the Fund is re- employed by the City as urogu|ar employee, that pucaou'a pension benefits ahu|| onuoo upon the date otco-ozup)o}onout. Credited Service earned during the term of any Member's subsequent re- employment in which the employee's pension benefits have been suspended shall be added to the Credited Service ofthe prior periods ofemployment, and upon fiuo| separation from the City, u new pension shall bocalculated taking into account the Member's total years ofCredited Service and rcuu|cu|utcd Connpcouudoo Base. In no event mbu|| the Member's rountb}y pension be reduced due to periods ofro-emp)o}nnroi. (u) If the diu(rihuieo of an eligible rollover distribution (as defined in the Code, Section 402(f)(2)(8) (U elects to have such distribution paid directly to another eligible retirement plan and (ii) specifies in writing (before the distribution is ouadc) the eligible retirement plan to vvb(uh such distribution is to be made, the diabdhu\k)n will he cnudo in the tbon of direct truutee-in- tnuoteu transfer to the eligible ro{iremont plan mn specified. See. 2.5-l1' Exemption wf benefits from judicial process (u) The City ubu|| never he held liable or responsible for any c|oicu or asserted oluino for bonofitaunder the provisions of this urtio]m, but all c\uinun obu|| be paid from the Fund for which provision has been specifically made in this division. Notwithstanding the preceding ucotoocc, the City, pursuant to its policies, programs and upp|jcuh\c law, abul| indemnify and hold baoo|euu the Board and its individual nnmoobo,o against any and all loss, damage and expense, including court costs and attorney's fees, resulting from nr arising out of the actions and inactions of the I}oau1 and its members in connection with the performance of their duties under the retirement ordinance, provided, however, that such obligation of the City to indemnify and hold burm|000 obu|| not apply to any Member nfthe Board to the extent that the loss, damage or Ordinance No.2047l-lO-2V|2 Page 32ofA2 expense is attributable to such Member's gross negligence or willful misconduct. (b) No portion of this Fund shall, at any time before or after its disbursement, be held, seized, taken, subjected to or detained or levied upon by virtue of any execution, attachment, garnislunent, assignment, injunction or other writ, order or decree, or any processor proceedings whatsoever issued out of or by any court for the payment or satisfaction, in whole or in part, of any debt, damage, claim, demand or judgment against any person entitled to a benefit from this Fund, nor shall the Fund, or any claim thereto, be directly or indirectly, assigned or transferred, and any attempt to transfer or assign same shall be void; provided that (1) nothing in this Section shall prevent the deduction of the spouse's insurance premiums from the Fund for the purpose of paying same, on behalf of the spouse, to the health and life insurance carrier for the City only, and (2) nothing shall prevent the Fund from dividing a Member's pension benefit between the Member and a former spouse and/or children or other dependents of the Member according to the terms of a valid court order from a court of competent jurisdiction as set forth in Section 2.5-11(c). (c) The court order must be a "qualified domestic relations order" within the meaning of Section 414(p) of the Code and must also satisfy the provisions of Section 2.5-11. The maximum pension benefit that can be paid to a former spouse is fifty(50) percent of the Member's pension benefit. The order must state a specific amount payable monthly or a percentage of the Member's pension benefit to be divided between the Member and the former spouse. Except as otherwise provided below with respect to the return of the Member's contributions, no single sum payment shall be made to a former spouse. Upon the Member's death, no further monthly pension benefit shall be paid to the former spouse. If, however, at the time of the Member's death, the Member and the former spouse had not yet received pension benefits from the Fund in excess of the Member's total contributions to the Fund (plus Regular Interest), the Member's remaining contributions (plus Regular Interest) shall be divided between the Member and the former spouse according to (i) the ratio of the pension benefit payable to the former spouse divided by the pension benefit payable to the Member but for the divorce, or (ii) the percentage used to calculate the pension benefit payable to the Member and the former spouse. The former spouse shall receive his or her portion of the remaining contributions (plus Regular Interest) in a single sum distribution. If such deceased Member died with no dependent child, dependent parent, or surviving spouse to whom the Member had been married for at least the one (I.) year immediately prior to the Member's retirement, the Member's portion of the remaining contributions (plus Regular Interest) shall be paid in a single sum to the Member's estate. If the deceased Member died with a dependent child (or children), dependent parent (or parents), or a surviving spouse to whom the Member had been married for at least the one (1) year immediately prior to the Member's retirement, such person(s) shall be entitled to a monthly benefit under the terms of this division, but adjusted as provided below. Upon a single sum payment to the former spouse, such monthly pension benefit shall be reduced according to the following methodology: (1) Create a fraction, the numerator of which is the single sum amount paid to the former spouse and the denominator of which is the sum of the Member's contributions Ordinance No. 20471-10-2012 Page 33 of 92 (plus Regular and the City's contributions on behalf ofthe (2) Multiply that fraction by the monthly pension benefit vvbicb would otherwise be payable to the dependent child, parent or surviving spouse; and (3) The difference hetvvucn the rcunb of the acooud atop and the monthly pension benefit vvbiob would otherwise be payable to the dependent child, dependent parent or surviving spouse io the monthly pension benefit which should be paid tn the dependent child, dependent parent or surviving spouse. Since any pension benefit payable to afbnmorspouse is derived from the Member's pension, a former opmums'm pension bouofii abui| not oo/nnneuuc until the Meonhe/m pension benefit oonuroeuoen. If Member with respect to vvhmno u former spouse has obtained u domestic ce|uiinoo order purporting to be a'quu|ifitd doroemhu relations order ternuiuutcm employment with the City and receives armturu of contributions (plus f{cgn|oo {utcrnad rattler than upenaion benefit, the 6000«x spouse shall not receive u pension benefit, but shall instead receive uperoeo1ugc (or fixed dollar amount) nf the returned contributions (plus Regular Interest). No court order shall bo honored i[it: (l) Provides for any fhon of benefit or option not otherwise provided by this division; (2) Requires the Fund to provide increased benefits determined on the basis ofactuarial value; or (3) Kcqoiocw the pu}uneut of benefits to u fbooer spouse that are required to be paid to another former spouse. /dA lJo}emo odbcnvixo cxpnuoo)y provided for in this division, the Board obuJl not reduce an individual pension. (e) No part of the corpus or income of the Fund shall ever revert to the City or be used for, or diverted to, any purpose other than for the exclusive purpose of providing benefits to noeonhcro and their beneficiaries in accordance with the terms of this division. Sec. %'5-1%' Amendment uKordinance The Governing Body, consistent with the Constitution, the laws ofthe State ofTexas, and the Charter of the City of Fort Wodb, mba|\ have the power and authority to urnuod any or all of the temos and provisions of this article, except where an aoocmdooeot in the City's contribution rote would require the issuance of tax-supported bonds approved atun election of the qualified voters of the City of Fort Worth. Ordinance No.2047l 10'I812 Page]4of92 See. 2.5-13. Controlling power nfordinance The provisions of this division shall be cumulative of and in addition to all other ondinu000m of the City of Fort YVodb relating to pensions, which ondioonooa are hereby preserved and continued in force and effect; provided, however, that in the event of any conflict, the provisions of this division shall control. See. 2.5-l4' Prerequisites toordinance The Governing Body finds that all acts, conditions and things required by provisions of the Constitution of Texas and Charter and Ordinances of the City of Fort Worth precedent to and in the adoption of this division have been done, have happened and have been perfon-ned in proper and lawful time. See. 2.5-l5, Limitation of legal rights By reason of the benefits and coverage herein and the additional burdens placed upon the City of Fort Worth and the Fund, it is expressly provided that no Member ofthe Fund mbu|| have the hobt to sue the City with respect to this Fund for disability sustained in line of duty, as heretofore defined; and by virtue ofmembership in the Fund, the Member accepts the benefits provided bythe Fund in lieu of any alleged right at law to sue the City or thisFund for damages. No heir or legal representative ofu Member who is injured in line ofduty, v/biok injury rVmuha in death, xbu}l have the right to sue the City for dozoagesbyreason thereof, but such heir or legal representative shall accept the heocfi1m provided under the employees' retirement Fund oo]ioaucVo of the City of Fort Worth in lieu of such fight to noc for dunnngea in u court of competent jurisdiction. Sections 2.5-16-19: Reserved Ordinance No.2047l 10-2012 Page 35of92 DIVISION 2 - PROVISIONS FOR GROUP III MEMBERS (POLICE OFFICERS HIRED PRIOR TO JANUARY 1,2013) Sec. 2.5-20. Applicability This Division applies only to Group III Members as defined by Section 2.5-1. Sec. 2.5-21. Earnings (a) For Credited Service earned prior to October 1, 2013, Earnings shall mean the amount actually paid to a Group III Member by the City for services rendered to the City during the calendar year, plus overtime, acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group III Member's W-2 form. "Earnings" shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Group III Members on or after January 1, 2006, so long as required by law. Regardless of the fact that the following payments may be shown on a Group III Member's W-2 form, Earnings shall not include: (1) Any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) Lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) Any award by a court, administrative body, or settlement agreement in excess of Earnings, and (4) Any amount paid to a Group III Member for which the City does not contribute to the Fund under Section 2.5-3(b). A Group III Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group III Member during the calendar year added to Earnings reported on the Group III Member's W-2 form to arrive at total Earnings for Fund matters. Mandatory Group III Member contributions that are picked-up by the City and excluded from a Group I11 Member's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost of living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition of Earnings. Notwithstanding the preceding provisions of this definition of Earnings, Earnings shall not include any amounts paid following a Group III Member's effective DROP Election. (b) For Credited Service earned on or after October 'l, 2013, Earnings shall mean the amount actually paid to a Group III Member by the City for services rendered to the City during the calendar year, plus acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group III Member's W-2 form. "Earnings" Ordinance No.20471-10-2012 Page 36 of 92 shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Group III Members on or after January 1, 2006, so long as required by law. Earnings shall not include any amount received as a result of overtime. Regardless of the fact that the following payments may be shown on a Group III Member's W-2 form, Earnings shall not include: (1) Any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) Lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) Any award by a court, administrative body, or settlement agreement in excess of Earnings, and (4) Any amount paid to a Group III Member for which the City does not contribute to the Fund under Section 2.5-3(b). A Group III Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group III Member during the calendar year added to Earnings reported on the Group III Member's W-2 form to arrive at total Earnings for Fund matters. Mandatory Group III Member contributions that are picked-up by the City and excluded from a Group III Member's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost of living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition of Earnings. Notwithstanding the preceding provisions of this definition of Earnings, Earnings shall not include any amounts paid following a Group III Member's effective DROP Election. Sec. 2.5-22. Retirement Dates (a) Normal Retirement Date. A Group III Member shall be eligible for pension benefits on or after the Group III Member's Normal Retirement Date which shall be the last day of the month in which the earliest of the following occurs: (1) The Group III Member's years of age and years of Credited Service total eighty (80); or (2) The later of (1) the date on which the Group III Member reaches age sixty-five (65) or(ii) the fifth anniversary of the date the Group III Member joined the Fund; or (3) The last day of the month in which such Group III Member's years of Credited Service total twenty-five. Ordinance No. 20471-10-2012 Page 37 of 92 (b) Vested Retirement Date. A Vested Group III Member who is voluntarily or involuntarily separated from the service of the City shall be eligible for pension benefits on or after such Group III Member's Vested termination date which shall be the last day of the month in which the Group III Member reaches age fifty (50), or, if earlier, the last day of the month in which the Group III Member would have attained his or her Normal Retirement Date had the Group III Member remained employed by the City. Sec. 2.5-23. Compensation Base for Determining Benefits (a) Compensation Base For Determining Group III Member Benefits For Credited Service Earned or Purchased Prior to October 1, 2013. (1) For Group III Members hired and Vested prior to October 23, 2007 (not subject to the 12% Earnings cap), pension, death benefits, disability pension and Vested termination benefits for Credited Service earned or purchased prior to October 1, 2013, shall be based upon the Group III Member's Compensation Base which shall mean the average annual Earnings as defined by Section 2.5-21(a) which were paid to the Group III Member by the City for employment with the City during any three (3) calendar years in which the Group III Member had the highest annual Earnings. If a Group III Member's last day of employment with the City is prior to January 1, 1999, "five (5)" shall be substituted for"three(3)" in the preceding sentence, (2) For Group III Members who were not vested by October 23, 2007, and for Group III Members hired After October 23, 2007, but prior to January 1, 2013 (subject to the 12% Earnings cap), pension, death benefits, disability pension and Vested termination benefits for Credited Service earned or purchased prior to October 1, 2013, shall be based upon the Group III Member's Compensation Base which shall mean the average annual Earnings, as defined by Section 2.5-21(a) which were paid to the Group III Member by the City for employment with the City during any three (3) calendar years in which the Group III Member had the highest annual Earnings, subject to the following limitations: a. The Fund shall determine the four (4) calendar years in which the Group III Member had the highest annual Earnings. Of such four (4) years, the year in which the Group III Member had the lowest an-nual Earnings shall serve as the base year. The base year shall not be included as one (1) of the three (3) calendar years for purposes of the Compensation Base calculation. b. The first annual Earnings to be used in the calculation of the Group III Member's Compensation Base shall be the actual annual Earnings from the calendar year with the third highest annual Earnings of the four (4) calendar years identified in Section 2.5-23(a)(2)a., provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the first year shall not exceed one hundred twelve (112) percent of the annual Earnings for the base year. Ordinance No. 20471-10-2012 Page 38 of 92 c. The second annual Earnings to be used in the calculation of the Group III Member's Compensation Base shall be the actual annual Earnings from the calendar year with the second highest annual Earnings of the four (4) calendar years identified in Section 2.5-23(a)(2)a., provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the second year shall not exceed one hundred twelve (112) percent of the annual Earnings used that are attributable to the year described in Section 2.5-23(a)(2)b.. d. The third annual Earnings to be used in the calculation of the Group III Member's Compensation Base shall be the actual annual Earnings from the calendar year with the highest annual Earnings of the four (4) calendar years identified in Section 2.5-23(a)(2)a., provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the third year shall not exceed one hundred twelve (112) percent of the annual Earnings used that are attributable to the year described in Section 2.5-23(a)(2)c. e. The average of the three (3) amounts determined in accordance with Section 2.5-23(a)(2)a.- 2.5-23(a)(2)d. will be the average annual Earnings for purposes of the Group III Member's Compensation Base. (b) Compensation Base for Determining Benefits for Credited Service Earned or Purchased, on or After October 1, 2013: pension, death benefits, disability pension, and Vested termination benefits for Credited Service earned or purchased from October 1, 2013 to the date of termination shall be based upon the Group III Member's average annual Earnings as defined by Section 2.5-21(b), which were paid to the Group III Member by the City for employment with the City during any five (5) calendar years in which the Group III Member had the highest annual Earnings. The Compensation Base for Credited Service earned or purchased on or after October 1, 2013, does not include overtime. (c) If a Group III Member has less than three (3), or if applicable, five (5) calendar years of employment, the Group III Member's Compensation Base shall be determined by the Executive Director tinder uniform, non-discriminatory procedures that are consistently applied. (d) For Compensation Base purposes, any lump sum payments of Earnings for any prior time period, whether awarded to the Group III Member by a court, administrative body or settlement agreement, shall be retroactively attributed to the calendar year in which it would otherwise have been received by the employee from the City for services rendered. (e) For purposes of computing the Compensation Base for a Group III Member who has made an effective DROP Election, the Group III Member's Compensation Base shall be calculated using the Group III Member's Earnings prior to the effective date of the DROP election. Ordinance No. 2047 1-1 0-20 1 2 Page 39 of 92 See. 2.5-24' Ter"nmtiomK&mmefibn and Vesting (a) Contribution ReFund Prior to Vesting. Any Group D[ Member who is voluntarily or involuntarily separated from the service of the City before the Group III Member is Vested obo1i be entitled to receive the amount ofthe Group II{ Member's contributions plus }legu|uz Interest (at the Regular Interest rate in effect on the date of such payment) less any amount previously paid to the Group III Member from the Fund, (h) >estcd7enn/no//onPenx/ox. (l) /\ Vested Group III Member who in voluntarily or involuntarily separated from the service of the City shall be entitled to receive u Vested Termination Pension payable: (i) in full, pursuant to Section 2.5-22(h) or (ii) in orsduoed amount commencing 000r after ago fifty (50). A Group {l[ Member must file ureqneoL for the onroozeucenoeu< of the Vested Tenniout(uu Pension by cnnup|edog such [boum and fb)|uvviug such procedures uyare established by the Board. A Vested Tuouinmdou Pension sbu|) he payable monthly on the first day of each nnootb 000unoeooiog with the n0001b fhi|ovviug approval nf the Group III Member's Vested T000ioudoo Pension by the Board. (2) A Vested Termination Pension shall be an annual life pension, the amount of which shall he the specified percentage u[the Group Ill Member's Compensation Dooe multiplied hythe Group III Member's total years of Credited Service to date of such voluntary or involuntary separation from the service of the City. For purposes of the preceding sentence, the specified percentage of the Group O} Member's Compensation Base abu|i be two and seventy-five one-hundredths (2.75) percent for all Credited Service carried or purchased prior to October l` 2813, and two and Lvvcuty-fivc one- hundredths (2.25)percent for Credited Service earned or purchased oonr after October |` 2013' uo|oxe the Group Ill Member has attained his or her Normal Retirement 0uie or Vested }lchrcmcot Date prior to the date the Group ID Member's pension payments begin, in which ouac the specified percentage shall be three (3) percent for all Credited Service earned or purchased prior to October l` 2013 and shall be two and fifty one- hundredths (2.5) percent for all Credited Service earned or purchased on or after October l, 2013. A Vested Termination Pension xbu|| be ou|cu|uiod using the specified percentage and Compensation Base iu effect at the time the Group III Member earned ur purchased the Credited Service for all Credited Set-vice earned or purchased after October l2Ol3. (3) In addition to the reduced nnu|dp\icr describe in Section 2.5-24(b)(2), if Group III Member has not uibaiood his or her Noonu| Be\iroozoo( OuK: or Vested Ru{ireocui Du1c prior to the date the Group Ill Member's \/oatoj Termination Pension payments begins, the amount of reduction for commencement ofu pension prior bn the Group Ill Member's Normal [luhrcruen1 L)a|o or Vested Retirement Date shall be five-twelfths (5112) percent for each ounotb by vvbicb nornnnououmoot of the pension antedates the Group l{[ Member's I1ooma| B!nhn:cuoot Date had the Group Ill Member remained employed hy the City. Ordinance No. 2047)-l0-20L2 Page 4V^[92 ki Contribution ReFond after Vesting in l/ou of Vested Termination Pension. Any Vested Group Dl Member who is voluntarily or involuntarily separated from the mucvioo of the City may o|oot to receive o roFuod of the Group III Member's contributions, plus Regular {utocnat (at the Regular Interest nUc in effect on the date of such po}oonuU |oxx any amount previously .aid to the Group II} Member from the Fund, either at the date of such separation or at ' dnno thereafter pdurt000roou0000nncntofIlednanneotBens�t' but hyon doing, the (3noupIII 'omuher shall forfeit all rights under the Fund and thereafter be entitled to no further benefits hereunder. Sec. 2.5-25. Retirement Pension (Pension Benefits) (u) Pensions Commencing Prior to October l, 20\3 (l) A \/em{ud L]ruop |T| M000hor who ncdrem on or after the Group III Menohcr`a Nonou\ Retirement Date and who n:guew(a oonnnouococnVot of the Group III Member's pension prior to October l, 2013, or a Group ll1 Member who tunniuu1ox crny|o}mout prior to October |, 2013, and prior to the Group III Member's Normal Retirement Date and who vvai10 until such \/uatod Kctiracnoot Date to apply for a pension, nhu|) ncorivo an unouui life pension, the amount of which shall be three (3.U) percent o[ the Group Ill Meuohor`y applicable Compensation Bumc as defined by Section 2.5-23(u)(1) or (u)(2), whichever is applicable, multiplied by the Group |I} Moozhuc'n total years of Credited Service, payable rnnuib|y on the first day of each nuootb commencing with the r000ib following the Board's approval of the Group Dl Menuhoc'm pouaino. This retirement pension shall bc defined uo the"Group III Member's Standard Pension Benefit A." (2) Alternative Pension Benmfi1 In lieu of the Group l(l Member Standard Pension Benefit A, u Group III Member under this subsection may irrevocably elect with his or her spouse's consent (where applicable), in udvuuoo of his or her rodrorntut and pursuant to regulations and ccquirun000to the Board in its discretion may adopt, to receive an "Alterriative Pension Benefit" which shall be Actuarially Equivalent to the Group III Member's Standard Pension Benefit A and which uba\| he payable in two (2) parts: (1) one (l) part in a lump uuco amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent uf the Group III Mocobc,'m Pre-October l, 2013 Standard Pension Benefit A, which lump sum shall he payable oo the date benefits commence under (i1); and (11) the remainder in an annual life pension, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group III Member's Alternative Pension Benefit. (3) Limitation nu Alternative Pension Denefi1 Notwithstanding any u{bcr provision in this Division to the contrary, the option to elect an }\bornudve Pension Benefit shall not be uvudub|c for any disability pooaino under Section 2.5'20, death benefit under 3cohoo 2.5-27, or normal \/cyicd Tonoioudoo Pension under Section 2.5-24' nor shall dboavailable to any Group Dl Member who is receiving pension boueO1a as of the effective date of the Alternative Pension Benefit Ordinance No. 2O47l 10-2012 Page 41 o{92 provisions of this Section, nor shall it be available upon re-retirement to any retired Group III Member who becomes re-ernployed by the City. (b) Pensions Commencing On or After October 1, 2013 (1) Pensions Commencing Upon Normal Retirement Date or Vested Retirement Date for Group 111 Members Hired and Vested Prior to October 23, 2007, Whose Pensions Commences On or After October 1, 2013 (not subject to the 12% Earnings cap): A Vested Group III Member hired and Vested prior to October 23, 2007, who retires on or after the Group Ill Member's Normal Retirement Date and requests commencement of the Group III Member's pension on or after October 1, 2013, or a Group III Member who terminates employment on or after October 1, 2013,. and prior to the Group III Member's Normal Retirement Date and who waits until such Vested Retirement Date to apply for a pension, shall receive an annual life pension, the amount of which is calculated by adding the following: a. Three (3.0) percent of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(1) multiplied by the Group III Member's years of Credited Service from date of hire until September 30, 2013; and b. Two and fifty one-hundredths (2.5) percent of the Group III Member's Compensation Base as defined by Section 2.5-23(b) multiplied by the Group III Member's years of Credited Service from October 1, 2013, until date of termination. (2) Pensions Commencing upon Normal Retirement Date for Group X Members Hired Prior January 1,2013 and Not Vested by October 23, 2007 (subject to the Earnings cap): A Group III Member hired prior to January 1, 2013, who was not Vested by October 23, 2007 who retires on or after the Group III Member's Normal Retirement Date and requests commencement of the Group III Member's pension, and whose pension commences on or after October 1, 2013, or who terminates employment on or after October '1, 2013, but prior to the Group III Member's Normal Retirement Date and who waits until such Vested Retirement Date to apply for a pension, shall receive an annual life pension, the arnount of which is calculated by adding the following: a. Three (3.0) percent of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(2) multiplied by the Group III Member's years of Credited Service from date of hire until September 30, 2013; and b. Two and fifty one-hundredths (2.5) percent of the Group III Member's Compensation Base as defined by Section 2.5-23(b) multiplied by the Group III Member's years of Credited Service from October 1, 2013 until date of termination. (3) The pension should be payable monthly on the first day of each month commencing with the month following the Board's approval of the Group III Member's Ordinance No. 20471-10-2012 Page 42 of 92 pension benefit. This retirement pension shall be defined as the "Group III Member Standard Pension Benefit B" (c) Alternative Pension Benefit. In lieu of the Group III Member Standard Pension Benefit A or B, a Group III Member may irrevocably elect with his or her spouse's consent (where applicable), in advance of his or her retirement and pursuant to regulations and requirements the Board in its discretion may adopt, to receive an "Alternative Pension Benefit" which shall be Actuarially Equivalent to the Group III Member's Standard Pension Benefit A or B and which shall be payable in two (2) parts: (1) one (1) part in a lump sum amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent of the Group III Member's Standard Pension Benefit A or B, which lump sum shall be payable on the date benefits commence under (ii); and (ii) the remainder in an annual life pension, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group III Member's pension. (d) Limitation on Alternative Pension Benefit. Notwithstanding any other provision in this Division to the contrary, the option to elect an Alternative Pension Benefit shall not be available for any disability benefits under Section 2.5-26, death benefits under section 2,5-27, or Vested Termination Pension under Section 2.5-24, nor shall it be available to any Group III Member who is receiving pension benefits hereunder as of the effective date of the Alternative Pension Benefit provisions of this Section, nor shall it be available upon re-retirement to any retired Group III Member who becomes re-employed by the City. See. 2.5-26. Disability Pension (a) See Section 2.5-7, for General Provisions related to Disability Pension (b) Disability in Line of Duty. If a Group III Member, whether or not Vested, becomes disabled as defined in Section 2.5-7, while in Line of Duty, the Group III Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group III Member's Compensation Base multiplied by the Group III Member's total years of Credited Service which would have accrued if the Group III Member had worked to the Group III Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00) per month. For purposes of the preceding sentence, the specified percentage of the Group III Member's Compensation Base shall be two and three quarters (2.75) percent, unless the Group III Member is already eligible to retire on or after his or her Normal Retirement Date, in which case the Group Ill Member shall receive the Standard Pension Benefit. (c) Disability Not in Line of Duty for Vested Group III Members Whose Disability Pension Commences Prior to October 1, 2013: If a Vested Group Ill Member becomes disabled as defined in Section 2.5-7, while not in Line of Duty, and the Group Ill Member's pension commences prior to October 1, 2013, the Group Ill Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group Ill Member's Compensation Base, multiplied by the Group Ill Member's total years of Credited Service to date of actual retirement. For purposes of the preceding sentence, the specified percentage of the Group Ill Member's Compensation Base shall be two and seventy-five one-hundredths (2.75) percent, Ordinance No. 20471-10-2012 Page 43 of 92 unless the Group III Member is already eligible to retire on or after the Group III Member's Normal Retirement Date, in which case the specified percentage shall be three(3.0) percent. (d) Disability Not in Line o Duty for Vested Group III Members Whose Disability Pension f Y Y Commences On or After October 1, 2013. If a Vested Group III Member becomes disabled as defined in Section 2.5-7, while not in Line of Duty, and the Group III Member's pension commences on or after October 1, 2013, the Group III Member shall receive an annual life pension, the amount of which shall be determined by adding the following: (1) a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(1) for Group III Members hired and Vested prior to October 23, 2007, or a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(2) for Group III Members who were hired prior to January 1, 2013, and were not Vested by October 23, 2007, multiplied by the Group III Member's years of Credited Service from date of hire until September 30, 2013. For purposes of the preceding sentence, the specified percentage of the Group III Member's Compensation Base for Credited Service pursuant to this Section 2.5-26(d)(1) shall be two and seventy- five one-hundredths (2.75) percent; and (2) a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(b), multiplied by the Group III Member's years of Credited Service from October 1, 2013, until the date of disability. For purposes of the preceding sentence, the specified percentage of the Group III Member's Compensation Base for Credited Service pursuant to this Section 2.5-26(4)(2) shall be two and twenty-five one- hundredths (2.25) percent. (e) Disability Not in Line of Ditty' .for Non-Vested Group III Members. If a Group III Member becomes disabled while not in Line of Duty before the Group III Member is Vested, then such Group III Member shall be entitled to receive a contribution reFund in accordance with Section 2.5-24(a). See. 2.5-27. Death Benefit (a) While In Line of Duty (1) If a Group III Member dies before retirement while in Line of Duty and as a result of the performance of that Group III Member's duties, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group III Member's pension, based on the number of years of Credited Service that would have accrued had the Group III Member lived to the Group III Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (2) Each dependent child of such Group III Member under eighteen (18) years of age shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), provided however, that if no surviving widow or widower shall be Ordinance No. 20471-10-2012 Page 44 of 92 entitled to receive u o)outb}y pension pursuant to the h:oox of this Section, all such dependent children sbuU share equally u monthly pension, the amount of which shall be seventy-five (75) percent of the Group lD Member's pension, huood on the number of years ofCredited Service that would have uoonucd had the (]noop ll{ Member lived to the (3nouplllMenuber'mNonnu\ Eiedcoroeut [}aic, butoo( lcoutbanbvnbuodrodfiftydo||uro <$250.00\. (3) If u Group {|| Member dies while in Line of Duty and |euvcu no v/idnvv or widower or children eligible to receive u benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) ubuil be entitled to receive a monthly pension, the amount of which shall be seventy-fivc (75) percent of the Group III Member's accrued pension projected io the Group III Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.0O). (4) The survivor's monthly pension benefit for a Group III Member who dies in Line of Duty under this subsection shall be calculated using a multiplier of three (3.0) percent. (h) While Not in Line mrDitty. (l) Peo/eJ Group /I/Member Who /}/oo /Vo/ in Line of Ditty and nmvo Survivor's Monthly Pension Begins Prior to October /' 2013: u. If u \/cmtod Group Dl Member dies before retirement, vvbilo not in Line of Doty` and the survivor monthly pension benefit begins pdn, to October l` 2013, tbcu the surviving widow or widower wbuD be eoddod to receive a romo(hly pension, the amount of vvbicb shall be ocvcuLy-fivo (75) percent of the Group Ill Member's accrued pension but not less than one hundred fifty dollars ($150.00). 6. Each dependent child under eighteen (l8) years uf age o[such Vested Group III Member mho|| be entitled to receive a monthly pension, the amount of which shall he one hundred dollars ($100.00), provided, however, that ifon surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this subsection, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group III Mcnubor'm accrued pension,but not less than one hundred fittydollars ($l5O.00). o. If Vested Group III Member dies vvbiln not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit under this subsection, but is survived by a dependent parent or parents, such dependent parent(s) shall be entitled to receive a monthly pension, the amount of which shall beseventy-five (75) percent ofthe Group III Member's accrued pension, projected to the Group III Member's Normal Retirement Dote, but not less than one hundred fifty dollars ($l5O.00). d. For purposes o[Section 2.5-27Od(\), u Group III Member's accrued pension shall be ouiou1utod using o multiplier of two and seventy-five one-hundredths Ordinance No. 2047l'l0-20l2 Page 45nf92 (2.75) percent, unless the Group III Member had reached the Group III Member Normal Retirement Date prior to death, in which event the multiplier shall be three (3.0) percent. (2) Vested Group III Member Who Dies Not In Line of'Duty and Whose Survivors Monthly Pension Begins, On or After October 1, 2013: a. If a Vested Group III Member dies before retirement, while not in Line of Duty, and the survivor pension begins on or after October 1, 2013, then the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group III Member's accrued pension but not less than one hundred fifty dollars ($150.00). The accrued pension shall be calculated by adding the following: 1. a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(1) for Group III Member's hired and Vested prior to October 23, 2007, or a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(a)(2) for Group III Members who were hired prior to January 1, 2013, and were not Vested by October 23, 2007, multiplied by the Group III Member's years of Credited Service from date of hire until September 30, 2013. For purposes of the preceding sentence, the specified percentage of the Group III Member's Compensation Base for Credited Service for this time period shall be two and seventy-five one- hundredths (2.75) percent; and 2. a specified percentage of the Group III Member's Compensation Base as defined by Section 2.5-23(b), multiplied by the Group III Member's years of Credited Service from October 1, 2013, until the date of death. For purposes Of the preceding sentence, the specified percentage of the Group III Member's Compensation Base for Credited Service for this time period shall be two and twenty-five one-hundredths (2.25) percent. b. Each dependent child under eighteen (IS) years of age of such Vested Group III Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00); provided, however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Section, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group III Member's accrued pension, but not less than one hundred fifty dollars ($150.00). C. If a Group '111 Member dies while not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group 1.11 Member's accrued pension, but not less than one hundred fifty dollars ($150.00). Ordinance No. 20471-10-2012 Page 46 of 92 (3) Group III Member Not Vested x/ Time ofDeath. Ifu Group III Member was not Vested on the date of death, the surviving widow or widower ubo|| be cnd(|oj to the return ofall contributions which the Group |R Member paid into the Fund during the Group Dl Member's |iD: plus Regular Interest thereon (u1 the 6lcgo|ar Interest rate in effect on the date of any payment to the widow or vvidwv/m). If there is not u surviving widow or widower, the contributions shall b«paid tothe estate of the Group III Member. (c) Alter Retirement. (|) Upon the death of retired Group III Member, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the pension being paid to the Group III Member, provided that the Group III Member and surviving widow or widower had been married for at least one (|) year immediately prior to the Group lll Member's retirement. Notwithstanding the preceding aco1eucc, u surviving widow or widower who was not nuunied to the doocuacd Group III Mcnuboc for at least one (l) year immediately prior to the Group III Member's zehcccoeo\ mbu\| be eligible to receive u nnoudh|y pension if the Group lll Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director` p/iLbio six (6) months after the Croup III Member's conun|ciioo of two (2) years of nuuoiugn to the Group Ill Meozhcc`x spouse. The reduced roon<b|y pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Iuhioo in effect on the date ofthe GnnoP III Monohu/a c|codou 10 receive o reduced monthly pension. If such an election has been made, the surviving vvidnvv or widower mbu\) receive o monthly pension for life equal to seventy-five (75) percent of the Group III Member's reduced monthly pension. (2) Group III Members Who Are Not Married mo Date o/Retirement. Upon the death ot arodred Group lK Member who was not married at retirement, u Beneficiary designated by the Group III Member at retirement may be eligible to receive u ouondb\y pension if the Group III Member has elected to receive reduced monthly pension, on ufhoo and subject to procedures developed by the Executive Director. The [}nuuy [II Member's reduced monthly pension sbu\\ be actuarially determined in u couuoer that is actuarially neutral to the Fund, based on }\ctnodu) Tables in effect on the date of the Group ([I Munuhor'u u\cudou to receive u reduced n000rb\y pension. The Group |ll Member can elect for his or her designated Beneficiary to receive either one hundred (100) percent, seventy-five (75) percent fifty (50) percent, or twenty-five (25) percent of the Group |{{ Member's reduced cuoodb\y pension. If Group I[[ Member who was not married at retirement and who selected u doa)guu1ed Beneficiary pucsnuoL to this Section |u<cr marries only the designated Beneficiary would be eodUcd to receive o Ufcdnne nunudbiy pension. (3) Each dependent child under eighteen (18) years of age of such retired d000uaod [)nnop III Member aba}i he entitled to receive u nountbiy pension, the amount of which Ordinance No.20471-10-2012 Page 47o{VZ shall be one hundred dollars ($l00.00), � n�| �� ��u � ��i� ofm� �|d� eighteen 88> pursuant Wthe terms of this Article. (d) Death qfVes/ed Terminated Group III Alem/er Prior mPension Commencing. If terminated Group Dl Member entitled tnu pension dies before the Group 1I] Member's pension commences, the Group III Member's designated Beneficiary, or if none, the Group III Member's eoto(r abo\| receive an un0000i equal to the Group lD Member's total contributions to the Fund, p}no Regular |oiocemL If the \/oe(ed Group O| Member's years of age and years of Credited Service (o(u| at least sixty-five (05) as of the date of the Group lD Member's termination, the Group III Member's eligible dependents shall receive the benefit specified under Section 2.5- 27(b), based on the pension to which the Group Ill Member would have been entitled usofthe date of the Group lll Member's death, in lieu of the payment of contributions plus Regular Interest. |f the Group III Member's years o{age and service did not total at least sixty-five (65) as of the date ofthe Group lll Mccohcr'a 0onmiuudoo, the Group III Member's eligible dependents may choose between the reFund of contributions, the payment of the survivor benefit at the date the Group III Member would have been eligible to draw the benefit, or uu immediate benefit at ao actuarially reduced rate. (c) General Provisions (l) If u deceased Group III Member leaves no widow, vvidwvvcr, designated Beneficiary, obi}droo or dependent parents eligible to receive u beuobi hc»000dnr, the Group III Member's total contributions plus Regular Interest (at the Regular Interest rate in effect on the date of any such payment) less any amount previously paid to him or her from the Fund, shall be paid tw the Group III Member's estate. (2) Payments to a child ubu|L be ruodo p/hotbor or not u widow, widower, or designated Beneficiary survives and abul\ continue after the death of widow, widower, or designated Beneficiary but xbn|i cease upon the earliest of such child's death, ouaoi age, oc attainment u[age eighteen (18). Payments ioa dependent parent shall cease upon such parent's death. For purposes of this Division, a parent will be deemed to he dependent if the Group Ill Member provides over one half of the purmot`o support. Payments iou widow, widower, or designated Beneficiary mbu1l continue uMcc ncnnurdugo, but abu\l cease upon the death of the widow, vvidnvvcr, or designated Beneficiary. Payments to u widow or widower forfeited due to remarriage, under prior provisions of this Section will be reinstated upon written request by the widow or widower, but uo retroactive payment can hcmade. After payments cease, any excess of the Group III Member's total cmu{dhuhoua over and above disability and/or death b000fita paid, plus ]togu}uc Iuturxmi at dnLu of death o ubuU be paid to the Group III Member's estate. (3) Except as provided in Socbuo 2.5-27(d), death benefit coverage during service breaks in mxucoo nf ninety (90) consecutive calendar days mbu\l be ]irni(od to Group III Members who are absent due to service-connected injury incurred while in Line ofDuty. Ordinance No. 20471-10-2012 Page 48ofy2 (4) Benefits hereunder shall be payable on the first day of each month commencing with the month following the month in which the Group III Member's death occurs. Tile Board shall determine all questions ofdependency, and its determination shall be final and conclusive on all parties. All unzuanjcd' |ogidnoa1c and legally adopted children under the age vf eighteen (lQ) years, iu the absence of determination to the contrary, nbuU be considered dependent. Sec. 2.5-28-29: Reserved 0ndLnuooe No, 20471'10'2012 Page 49of92 DIVISION 3 — PROVISIONS APPLICABLE TO GROUP IV MEMBERS (POLICE OFFICERS HIRED ON OR AFTER JANUARY 1, 2013) See. 2.5-30. Applicability This Division shall apply to Group IV Members as defined by Section 2.5-1. See. 2.5-31. Earnings (a) Earnings shall mean the amount actually paid to a Group IV Member by the City for services rendered to the City during the calendar year, plus acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group IV Member's W-2 form. "Earnings" shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Group IV Members on or after January 1, 2006, so long as required by law, Earnings does not include any amount received as a result of overtime. Regardless of the fact that the following payments may be shown on a Group IV Member's W-2 form, Earnings shall not include: (1) any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) any award by a court, administrative body, or settlement agreement in excess of Earnings, (4) any payment received from the City's Wellness Program (5) any amount received from the City's vacation sell-back program, and (6) any amount paid to a Group IV Member for which the City does not contribute to the Fund under Section 2.5-3(b). A Group IV Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group IV Member during the calendar year added to Earnings reported on the Group IV Member's W-2 form to arrive at total Earnings for Fund matters. Mandatory Group IV Member contributions that are picked-up by the City and excluded frorn a Group IV Member's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost-of-living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition. Notwithstanding the preceding provisions, Earnings shall not include any amounts paid following a Group IV Member's effective DROP Election. Ordinance No. 20471-10-2012 Page 50 of 92 See. 2.5-32. Retirement Dates (a) Normal Retirement Date. A Group IV Member shall be eligible for pension benefits on or after the Normal Retirement Date which shall be the last day of the month in which the earliest of the following occurs: (1) The Group IV Member's years of age and years of Credited Service total eighty (80); or (2) The later of(i) the date on which the Group IV Member reaches age sixty-five (65) or (ii) the fifth anniversary of the date the Group IV Member joined the Fund; or (3) The last day of the month in which such Group IV Member's years of Credited Service total twenty-five. (b) Vested Terminated Retirement Date. A Vested Group IV Member who is voluntarily or involuntarily separated from the service of the City shall be eligible for pension benefits on or after such Group IV Member's Vested Termination Date which shall be the last day of the month in which the Group IV Member reaches age fifty (50), or, if earlier, the last day of the month in which the Group IV Member's age when added to his or her Credited Service totals eighty(80). Sec. 2.5-33. Compensation Base for Determining Benefits (a) Pension, death, disability and Vested termination benefits shall be based upon the Group IV Member's Compensation Base which shall mean the average annual Earnings which were paid to the Group IV Member by the City for employment with the City during any five years. If a Group IV Member has less than five (5) calendar years of employment, the Group IV Member's Compensation Base shall be determined by the Executive Director Linder uniform, non-discriminatory procedures that are consistently applied. (b) For Compensation Base purposes, any lump sum payments of Earnings for any prior time period, whether awarded to the Group IV Member by a court, administrative body or settlement agreement, shall be retroactively attributed to the calendar year in which it would other-wise have been received by the Group IV Member from the City for services rendered. (c) For purposes of computing the Compensation Base for a Group IV Member who has made an effective DROP Election, the Group IV Member's Compensation Base shall be calculated using the Group IV Member's Earnings prior to the effective date of the DROP Election. See. 2.5-34. Termination Benefits and Vesting (a) Contribution ReFund Prior to Vesting. A Group IV Member who is voluntarily or involuntarily separated from the service of the City before the Group IV Member is Vested shall Ordinance No. 20471-10-2012 Page 51 of 92 be entitled to receive the amount of the Group IV Member's contributions plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) less any amount previously paid to the Group IV Member from the Fund, (b) Vested Termination Pension. (1) A Vested Group IV Member who is voluntarily or involuntarily separated from the service of the City shall be entitled to receive a Vested Termination Pension payable: (1) in full, pursuant to Section 2.5-32(b) or (ii) in a reduced amount commencing on or after age fifty(50). A Group IV Member must file a request for the commencement of the Vested Termination Pension by completing such forms and following such procedures as are established by the Board. A Vested Termination Pension shall be payable monthly on the first day of each month commencing with the month following approval of the Vested Termination Pension by the Board. (2) A Vested Termination Pension shall be an annual life pension, the amount of which shall be the specified percentage of the Group IV Member's Compensation Base multiplied by his or her total years of Credited Service to date of such voluntary or involuntary separation from the service of the City. For purposes of the preceding sentence, the specified percentage of the Group IV Member's Compensation Base shall be two and twenty-five one-hundredths (2.25) percent, unless the Group IV Member has attained his or her Normal Retirement Date or Vested Retirement Date prior to the date that pension payments begin, in which case the specified percentage shall be two and fifty one-hundredths (2.5) percent. A Vested Termination Pension shall be calculated using the specified percentage and Compensation Base in effect at the time the Group IV Member's earned the Credited Service. (3) If a Group IV Member has not attained his or her Normal Retirement Date or Vested Retirement Date prior to the date the Vested Termination Pension payments begins, the amount of reduction for commencement of a pension prior to the Group IV Member's Normal Retirement Date or Vested Retirement Date [in addition to the specified percentage of two and one quarter (2.25) percent], shall be five-twelfths (5/12) percent for each month by which commencement of the pension antedates the Group IV Member's Normal Retirement Date had he or she remained employed by the City. (c) Contribution ReFund After Vesting in Lieu of'Nested Termination Pension. Any Vested Group IV Member who is voluntarily or involuntarily separated from the service of the City may elect to receive a reFund of the Group IV Member's contributions, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) less any amount previously paid to the Group IV Member from the Fund, either at the date of such separation or at any time thereafter prior to commencement of Retirement Benefit, but by so doing, the Group IV Member shall forfeit all rights under the Fund and thereafter be entitled to no further benefits hereunder. Ordinance No.20471-10-2012 Page 52 of 92 Sec. 2.5-35. Retirement Pension (Benefit) (a) Pensions Commencing upon Normal Retirement Date. A Vested Group IV Member under this Division who retires on or after the Group IV Member's Normal Retirement Date and requests corrunencement of the Group IV Member's pension, or a Group IV Member who terminates employment prior to the Group IV Member's Normal Retirement Date and who waits until such Vested Retirement Date to apply for a pension, shall receive an annual life pension, the amount of which shall be two and fifty one-hundredths (2.5) percent of the Group IV Member's Compensation Base multiplied by the Group IV Member's total years of Credited Service, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group IV Member's pension. This pension benefit shall be called the "Group IV Member's Standard Pension Benefit." (b) Alternative Pension Benefit. In lieu of the Standard Pension Benefit, a Group IV Member may irrevocably elect with his or her spouse's consent (where applicable), in advance of his or her retirement and pursuant to regulations and requirements the Board in its discretion may adopt, to receive an "Alternative Pension Benefit" which shall be Actuarially Equivalent to the Group IV Member's Standard Pension Benefit and which shall be payable in two (2) parts: (i) one (1)part in a lump sum amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent of the Group IV Member's Standard Pension Benefit, which lump sum shall be payable on the date benefits commence under(ii); and (ii) the remainder in an annual life pension, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group IV Member's pension. (c) Limitation on Alternative Pension Benefit. Notwithstanding any other provision in this Division to the contrary, the option to elect an Alternative Pension Benefit shall not be available for any disability pension under Section 2.5-36, death benefit under Section 2.5-37, or normal Vested Termination Pension under Section 2.5-34, nor shall it be available to any retired Group IV Member who is receiving pension benefits hereunder as of the effective date of the Alternative Pension Benefit provisions of this Section, nor shall it be available upon re- retirement to any retired Group IV Member who becomes re-employed by the City. Sec.2.5-36. Disability Pension (a) See Section 2.5-7 for General Provisions related to Disability Pension (b) Disability in Line of Duty. If a Group IV Member, whether or not Vested, becomes disabled as defined in Section 2.5-7 while in Line of Duty, the Group IV Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group IV Member's Compensation Base multiplied by the total years of Credited Service which would have accrued if the Group IV Member had worked to Normal Retirement Date, but not less than two hundred fifty dollars ($250.00) per month. For purposes of the preceding sentence, the specified percentage of the Group IV Member's Compensation Base shall be two and twenty-five one-hundredths (2.25) percent, unless the Group IV Member is already eligible to retire on or after his or her Normal Retirement Date, in which case the specified percentage shall be two and fifty one-hundredths (2.5) percent. Ordinance No. 20471-10-2012 Page 53 of 92 (c) Disability Not in Line of Ditty for Vested Group IV Members. If a Vested Group IV Member becomes disabled, as defined in Section 2.5-7, while not in Line of Duty, the Group IV Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group IV Member's Compensation Base multiplied by the Group IV Member's total years of Credited Service to date of actual retirement. For purposes of the preceding sentence, the specified percentage of the Group IV Member's Compensation Base shall be two and twenty-five one-hundredths (2.25) percent, unless the Group IV Member is already eligible to retire on or after the Group IV Member's Normal Retirement Date, in which case the specified percentage shall be two and fifty one-hundredths(2.5) percent. (d) Disability Not in Line of Duty for Non-Vested Group IV Members. If a Group IV Member becornes disabled while not in Line of Duty before the Group IV Member is Vested, then such Group IV Member shall be entitled to receive a contribution reFund in accordance with Section 2.5-34(a). See. 2.5-37. Death Benefit (a) While in Line of'Duty (1) If a Group IV Member dies before retirement while in Line of Duty and as a result of the performance of that Group IV Member's duties, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's pension, based on the number of years of Credited Service that would have accrued had the Group IV Member lived to the Group IV Credited Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (2) Each dependent child of such Group IV Member under eighteen (18) years of age shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), provided however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's pension, based on the number of years of Credited Service that would have accrued had the Group IV Member lived to the Group IV Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (3) If a Group IV Member dies while in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parents or the surviving dependent parent shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's accrued pension projected to his or her Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). Ordinance No. 20471-10-2012 Page 54 of 92 (4) The survivor's monthly pension benefit for a Group IV Member who dies in Line of Duty shall be calculated using a multiplier of two and fifty one-hundredths (2.5) percent. (b) While Not in Line of Duty. (1) Vested Group IV Member. a. If a Vested Group IV Member dies before retirement, while not in Line of Duty, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's accrued pension but not less than one hundred fifty dollars ($150.00). b. Each dependent child under eighteen (1$) years of age of such Vested Group IV Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00); provided, however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's accrued pension, but not less than one hundred fifty dollars ($150.00). c. If a Group IV Member dies while in not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parents or the surviving dependent parent shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group IV Member's accrued pension, projected to the Group IV Member's Normal Retirement Date, but not less than one hundred fifty dollars ($150.00). d. The survivor's monthly pension benefit for a Vested Group N Member who dies not in Line of Duty shall be calculated using a multiplier of two and twenty- five one-hundredths (2.25) percent. (2) Group IV Member Not Vested at Time of Death. If a Group IV Member was not Vested on the date of death, the surviving widow or widower shall be entitled to the return of all contributions which the Group IV Member paid into the Fund during the Group IV Member's life plus Regular Interest thereon (at the Regular Interest rate in effect on the date of any payment to the widow or widower). If there is not a surviving widow or widower, the contributions shall be paid to the estate of the Group IV Member. (c) After Retirement. (1) Group IV Members Who are Married at Retirement. The surviving spouse of a Group IV Member who dies after retirement would be eligible to receive a monthly pension if the Group IV Member elected to receive a reduced monthly pension prior to Ordinance No. 20471-I0-2012 Page 55 of 92 retirement, on a form and subject to procedures developed by the Executive Director of the Fund. The Group IV Member's reduced monthly pension shall be determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group IV Member's election to receive a reduced monthly pension. Notwithstanding the preceding, a surviving spouse who was not married to the deceased Group IV Member at the time of his or her retirement shall be eligible to receive a monthly pension if the Group IV Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director, within six (6) months after the Group IV Member's completion of two (2) years of marriage to his or her spouse. The reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group IV Member's election to receive a reduced monthly pension. The Group IV Member can elect for his or her surviving spouse to receive either one hundred (100) percent, seventy-five (75) percent, fifty (50) percent, or twenty-five (25) percent of the Group IV Member's reduced monthly pension. (2) Group IV Members Who Are Not Married on Date of Retirement. Upon the death of a retired Group IV Member, who was not married at retirement, a Beneficiary designated by the Group IV Member at retirement may be eligible to receive a monthly pension if the Group IV Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director. The Group IV Member's reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group IV Member's election to receive a reduced monthly pension. The Group TV Member can elect for his or her designated Beneficiary to receive either one hundred (100) percent, seventy-five (75) percent, fifty (50) percent, or twenty-five (25) percent of the Group IV Member's reduced monthly pension. If a Group IV Member who was not married at retirement and who selected a designated Beneficiary pursuant to this subsection later marries, only the designated Beneficiary would be entitled to receive a lifetime monthly pension, (3) Each dependent child under eighteen (18) years of age of such retired deceased Group IV Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), but shall cease upon the earliest of such child's death, marriage or attaituncrit of age eighteen (18) pursuant to the terms of this Article. (d) Death of Vested Terminated Group IV Member Prior to Pension Conuriencing. If a terminated Group IV Member entitled to a pension dies before his or her pension commences, the Group IV Member's designated Beneficiary, or if none, the Group IV Member's estate shall receive an amount equal to the Group TV Member's total contributions to the Fund, plus Regular Interest. If the Vested Group IV Member's years of age and years and Credited Service total at least sixty-five (65) as of the date of the Group IV Member's termination, the Group IV Member's eligible dependents shall receive the benefit specified under Section 2.5-37(b), based on the pension to which the Group IV Member would have been entitled as of the date of the Group IV Member's death, in lieu of the payment of contributions plus Regular Interest. If the Group IV Member's years of age and service did not total at least sixty-five (65) as of the date of Ordinance No.20471-10-2012 Page 56 of 92 the Group IV Member's termination, the Group IV Member's eligible dependents may choose between the reFund of contributions, the payment of the survivor benefit at the date the Group IV Member would have been eligible to draw the benefit, or an immediate benefit at an actuarially reduced rate. (e) General Provisions (1) If a deceased Group IV Member leaves no widow, widower, designated Beneficiary, children or dependent parents eligible to receive a benefit hereunder, the Group IV Member's total contributions plus Regular Interest (at the Regular Interest rate in effect on the date of any such payment) less any amount previously paid to him or her from the Fund, shall be paid to the Group IV Member's estate. (2) Payments to a child shall be made whether or not a widow, widower, or designated Beneficiary survives and shall continue after the death of a widow, widower, or designated Beneficiary but shall cease upon the earliest of such child's death, marriage, or attainment of age eighteen (18). Payments to a dependent parent shall cease upon such parent's death. For purposes of this division, a parent will be deemed to be dependent if the Group IV Member provides over one half of the parent's support. Payments to a widow, widower, or designated Beneficiary shall continue after remarriage, but shall cease upon the death of the widow, widower, or designated Beneficiary. Payments to a widow or widower forfeited due to remarriage, under prior provisions of this Section will be reinstated upon written request by the widow or widower, but no retroactive payment can be made. After payments cease, any excess of the Group IV Member's total contributions over and above disability and/or death benefits paid, plus Regular Interest at date of death shall be paid to the Member's estate. (3) Except as provided in Section 2.5-37(d), death benefit coverage during service breaks in excess of ninety (90) consecutive calendar days shall be limited to Group N Members who are absent due to service-connected injury incurred while in Line of Duty. (4) Benefits hereunder shall be payable on the first day of each month commencing with the month following the month in which the Group IV Member's death occurs. The Board shall determine all questions of dependency, and its determination shall be final and conclusive on all parties. All unmarried, legitimate and legally adopted children under the age of eighteen (18) years, in the absence of determination to the contrary, shall be considered dependent. Sec. 2.5-38-39: Reserved Ordinance No. 20471-10-2012 Page 57 of 92 DIVISION 4 — PROVISIONS APPLICABLE TO GROUP I MEMBERS (GENERAL EMPLOYEES HIRED PRIOR TO JULY 1, 2011) Sec. 2.5-40. Applicability This Division shall apply to Group I Members as defined by Section 2.5-1. Sec. 2.5-41. Earnings (a) For Credited Service earned prior to October 1, 2013, Earnings shall mean the amount actually paid to a Group I Member by the City for services rendered to the City during the calendar year, plus overtime, acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group I Member's W-2 form. "Earnings" shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Group I Members on or after January 1, 2006, so long as required by law. Regardless of the fact that the following payments may be shown upon a Group I Member's W-2 form, Earnings shall not include: (1) Any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) Lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) Any award by a court, administrative body, or settlement agreement in excess of Earnings, and (4) Any amount paid to a Group I Member for which the City does not contribute to the Fund under Section 2.5-4(b). A Group I Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group I Member during the calendar year added to Earnings reported on the Group I Member's W-2 form to arrive at total Earnings for Fund matters. Mandatory Group I Member contributions that are picked-up by the City and excluded from a Group I Member's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost-of-living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition. Notwithstanding the preceding provisions, Earnings shall not include any amounts paid following a Group I Member's effective DROP Election. (b) For Credited Service earned on or after October 1, 2013, Earnings shall mean the amount actually paid to a Group I Member by the City for services rendered to the City during the calendar year, plus acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group I Member's W-2 form. "Earnings" Ordinance No. 20471-10-2012 Page 58 of 92 shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Group I Members on or after January 1, 2006, so long as required by law. Earnings does not include overtime. Regardless of the fact that the following payments may be shown upon a Group I Member's W-2 form, Earnings shall not include: (1) Any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) Lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) Any award by a court, administrative body, or settlement agreement in excess of Earnings, and (4) Any amount paid to a Group I Member for which the City does not contribute to the Fund under Section 2.5-4(b). A Group I Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group I Member during the calendar year added to Earnings reported on the Group I Member's W-2 form to arrive at total Earnings for Fund matters. Mandatory Group I Member contributions that are picked-up by the City and excluded from a Group I Member's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost-of-living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition. Notwithstanding the preceding provisions, Earnings shall not include any amounts paid following a Group I Member's effective DROP Election. See. 2.5-42. Retirement Dates For Group I Members (a) Normal Retirement Date. A Group I Member shall be eligible for pension benefits on or after the Group I Member's Nonrial Retirement Date which shall be the last day of the month in which the earliest of the following occurs: (1) The Group I Member's years of age and years of Credited Service total eighty (80); or (2) The later of(1) the date on which the Group I Member reaches age sixty-five (65) or(ii) the fifth anniversary of the date the Group I Member joined the Fund; or (b) Vested Terminated Retirement Date. A Vested Group I Member who is voluntarily or involuntarily separated from the service of the City shall be eligible for pension benefits on or after such Group t Member's Vested termination retirement date which shall be the last day of the month in which the Group I Member reaches age fifty (50), or, if earlier, the last day of the month in which the Group I Member would have attained his or her Normal Retirement Date had Ordinance No.20471-10-2012 Page 59 of 92 the Group I Member remained employed by the City. Sec. 2.5-43. Compensation Base for Determining Benefits (a) Compensation Base For Determining Group I Member Benefits For Credited Service Earned or Purchased Prior to October 1, 2013: (1) For Group I Members hired and Vested Prior to October 23, 2007 (not subject to the 12%cap), pension, death benefits, disability pension and Vested termination benefits shall be based upon the Group I Member's Compensation Base which shall mean the average annual Earnings, as defined by Section 2.5-41(a) which were paid to the Group I Member by the City for employment with the City during any three (3) calendar years in which he or she had the highest annual Earnings. If a Group I Member's last day of employment with the City is prior to January 1, 1999, "five (5)" shall be substituted for "three (3)" in the preceding sentence. (2) For Group I Members who were hired prior to July 1, 2011, but not Vested by October 23, 2007 (subject to the 12% cap),pension, death benefits, disability pension and Vested termination benefits shall be based upon the Group I Member's Compensation Base which shall mean the average annual Earnings, as defined by Section 2.5-41(a) which were paid to the Group I Member by the City for employment with the City during any three (3) calendar years in which he or she had the highest annual Earnings, subject to the following limitations: a. The Fund shall determine the four (4) calendar years in which the Group I Member had the highest annual Earnings. Of such four (4) years, the year in which the Group I Member had the lowest annual Earnings shall serve as the base year. The base year shall not be included as one (1) of the three (3) calendar years for purposes of the Compensation Base calculation. b. The first annual Earnings to be used in the calculation of the Group I Member's compensation base shall be the actual annual Earnings from the calendar year with the third highest annual Earnings of the four (4) calendar years identified in Section 2.5-43(a)(2)a., provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the first year shall not exceed one hundred twelve (112)percent of the annual Earnings for the base year. C. The second annual Earnings to be used in the calculation of the Group I Member's Compensation Base shall be the actual annual Earnings from the calendar year with the second highest annual Earnings of the four (4) calendar years identified in Section 2.5-43(a)(2)a., provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the second year shall not exceed one hundred twelve (112) percent of the annual Earnings that are attributable to the year described in Section 2.5-43(a)(2)b.. Ordinance No.20471-10-2012 Page 60 of 92 d. The ddn] annual Earnings to be used in the calculation of the Group ( Member's Compensation Base shall be the uokuu| annual Earnings from the tu|eudur year with the highest auouu) Bucoiogs of the four (4) ouieodaz years identified in Section 2.5'43(u)(2)u., provided that if such uouuul Earnings are from a calendar year beginning on or after January 1, 2008, the arnount to be used in the calculation of the Conopeuuubou Ouso for the third year obu\| not exceed one hundred tv/c|vc (112) percent of the mnuuu1 Earnings that are attributable to the year described in 3ccdoo 2.5'43(u)(2)c. e. The average ofthe three (3) amounts determined io accordance with Sections 2.5'43(u)(3)u. through 2.5'43(a)(2)d. will be the average annual Earnings for purposes of the Group l Member's Compensation Base. (h) Compensation Base for I}ctcnoiniog Group [ Member Benefits For Credited Service £uruod or Purchased On or After October l, 2013: For Group l Members, Credited Service earned or purchased on or after October 1, 2013 shall be based upon average annual Earnings, as defined by Section 2.5-4](b) v/binb were paid to the Group ( &4enubor by the City for employment with the City during any five (5) calendar years in which the Group l Member had the biubemi annual Earnings. The Compensation Base for Credited Service earned or purchased onwrafter October 1, J0l3, does not include overtime. (o) If Group l Mc,ob«c has |coo than five (5) [or if applicable, three (])] ou)ondoc youca of omp|oyo)ovL the Group [ Member's Compensation Base obu\) be determined by the Executive Director under uniform, non-discriminatory procedures that are consistently applied. (d) For Compensation Base purposes, any lump sum payments of Earnings for any prior time period, whether awarded to the Group l Member byn court, administrative body or settlement u8Juu0000L shall hu retroactively attributed to the calendar year in vvbicb It would otherwise have been received by the Group l Member from the City for services rendered. (c) For purposes of computing the Compensation Base for a Group l Member who has made ou effective DROP Election, the Group l Member's Compensation Base shall bucalculated using the Group l Member's Earnings prior 10 the effective date of the DROP Election. See. 2.5-44. Termination Benefits and Vesting (u) Contribution 8eFuod /f/or to Vesting. Any Group T Member who is voluntarily or involuntarily separated from the service nfthe City before the Group I Member is Vested xbu\l be entitled to receive the amount of the Group lMcmbcr'm contributions plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) \caa any amount previously paid to the Group | Mcnoberbr000 the Fund. (h) Vested Termination Pension. (|) f\ Vested Group [ Member who is voluntarily or involuntarily separated from the Ordinance No.2847} 10'2012 Page 6lvf92 service of the City shall be entitled to receive a Vested Termination Pension payable: (i) in full, pursuant to Section 2.5-42(b) or(11) in a reduced amount commencing on or after age fifty (50). A Group I Member must file a request for the commencement of the Vested Termination Pension by completing such forms and following such procedures as are established by the Board. A Vested Termination Pension shall be payable monthly on the first day of each month commencing with the month following approval of the Group I Member's Vested Termination Pension by the Board. (2) A Vested Termination Pension shall be an annual life pension, the amount of which shall be the specified percentage of the Group I Member's Compensation Base multiplied by the Group I Member's total years of Credited Service to date of such voluntary or involuntary separation from the service of the City. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base shall be two and seventy-Five one-hundredths (2.75) percent for all Credited Service earned or purchased prior to October 1, 2013, and two and twenty-five one- hundredths (2.25) percent for Credited Service earned or purchased on or after October 1, 2013, unless the Group I Member has attained his or her Normal Retirement Date or Vested Retirement Date prior to the date the Group I Member's pension payments begin, in which case the specified percentage shall be three (3) percent for all Credited Service earned or purchased prior to October 1, 2013 and shall be two and fifty one-hundredth (2.5) percent for all Credited Service earned or purchased on or after October 1, 2013. A Vested Termination Pension shall be calculated using the specified percentage and Compensation Base in effect at the time the Group I Member earned or purchased the Credited Service for all I Credited Service earned or purchased after October 1 2013. (3) In addition to the reduced multiplier describe in Section 2.5-44(b)(2), if a Group I Member has not attained his or her Normal Retirement Date or Vested Retirement Date prior to the date the Group I Member's Vested Termination Pension payments begins, the amount of reduction for commencement of a pension prior to the Group I Member's Normal Retirement or Vested Retirement Date shall be five-twelfths (5/12) percent for each month by which commencement of the pension antedates the Group I Member's Normal Retirement Date had the Group I Member remained employed by the City. Sec. 2.5-45. Retirement Pension (Benefit) (a) Pensions Commencing Prior to October 1, 2013 (1) A Vested Group I Member who retires on or after the Group I Member's Normal Retirement Date and who requests commencement of the Group I Member's pension prior to October 1, 2013, or a Group I Member who terminates employment prior to October 1, 2013, and prior to the Group I Member's Normal Retirement Date and who waits until such Vested Retirement Date, to apply for a pension, shall receive an annual life pension, the amount of which shall be three(3.0) percent of the Group I Member's applicable Compensation Base as defined by Section 2.5-43(a)(1) or (a)(2), whichever is applicable, multiplied by the Group I Member's total years of Credited Service, payable monthly on the first day of each month commencing with the month following the Ordinance No. 20471-10-2012 Page 62 of 92 Board's approval of the Group 1 8Jco�`o,'s pension. This retirement pension mhuj\ be dcfinudoa the "Group KMcmmbcr`mStandard Pension Benefit A." (2) z4/Aeroodve Pension 8nxqflc In lieu of the Group l Member Standard Pension Benefit A, a Group I Member under this subsection may irrevocably elect with his or her spouse's consent (where applicable), in advance nf his nr her retirement and pursuant to regulations and ccquirerucoia the Board in its discretion may adopt, to receive an "Alternative Pension Benefit" *biok shall be /\obuudu))y Equivalent in the Group I Member's Standard Pension Benefit /\ and which shall bm payable io two (2) parts: (i) one (1) part in olunnp sum amount not \emm than five (5) percent nor greater than twenty- five (25) ponocot of the &ctnudul 2guivu|cut of the Group [ Mocuhnr'o Pcc-()otohcr }. 3013 Standard Ycomioo Benefit A, which lump xunu shall bc payable on the date benefits oornroe000 under (ii); and (ii) the remainder in an annual life pension, payable nnunih|y on the first day of each nuouib cnnnnueuciog with the nuoutb {b|\ovving the Board's approval of the Group I Member's Alternative Pension Benefit. (3) Lhni&xt/onoxAberoudvcpeuo/on8enai1Notp/dhwtundioguuyotberproviaionin this Division to the contrary, the option to elect aoAlternative Pension Benefit mbu|) not he available for any disability pension under Section 2.5'46, death benefit under Section 2.5'47, or Vested T000iouiioo Pension under Section 2.5'44, nor sbu|1 it he available to any Group l Member who is receiving pension benefits as of the eft&dve date of the /\|teooudve Pension Benefit provisions ofthis Section, nor shall it be available upon re- retirement to any retired Group l Member who becomes re-employed hy the City. (b) Pensions Commencing Ooor After October |, 2O|3 (I) Pensions Commencing upon Normal Retirement l)u&e /or Group/Members Hired and Vested prior to July /. 2011' Whose Pension Commences On or After October /. 2013 (vo/ sx6/e/Y to the Earnings cap): /\ \/uatnd Group 1 Member hired and Vested prior tn October 23, 2007, who redn:m on or ohcr the Group ] Member's Non-nu) Retirement Date and requests 000zrneuuenneui of the Group I Member's pension on or after October l, 2013, or a Group I Member who (coniuo1em ennyloyineot on or after October l, 2013 and prior to the Group I Member's Normal Retirement Date and who waits until such Vested Retirement Date io apply for upension, mbu|l receive an unuuu\ life pension, the amount of which obo1l be calculated by adding the following: u. Three (3.0) per000< of the Group I Member's Compensation E\am* as defined by Section 2.5-43(u)(1) multiplied by the Group ( Member's years of Credited Service from date of hire until September 30, 20)3; and b. Two and fifty one-hundredths (2.5) percent of the Group I Menohe,`n Compensation Base as defined by 3oodoo 2.5-43(h) nnu|kp|icd by the Group 1 Member's years of Credited Service from October |, 2013 nod| date of termination. Ordinance No. 2047\ 10'2012 Page 63 of 92 (2) Pensions Commencing Upon Normal Retirement I)atefor Group {Members Who Were Hired Prior k,July /' Z01/ and Were Not Vested 6v October 2} Z007and Whose Pension Commences On Or After October /' 2013 (subject to the Earnings con). A Group l Member hired prior to July 1, 20l\, and not Vested hy October 23, 2O07, who retires on or after the Group [ Member's Normal llehreozout Date and requests uonzmoucocomnt of the Group I Mon)boc'o pension, and whose pension uocnrnouuus on or after October l` 2013, or who tcnoiuutom employment ouoc after October |, 2013, but prior to his nr her Normal Bedrenocui Du(c and who vvuiim uod| such \/eoiod Retirement Date to apply for o pension shall receive an u0000l life pension, the amount of which shall he calculated byadding the following: u. Three (3.0) percent of the Group l Member's Compensation I}nxe as defined by Section 2.5'43(u)(2) noohip\imd by the Group | Member's years of Credited Service from date of hire until September 3O, 20]3; and b. Two and fifty one-hundredths (2.5) percent of the Group I Msnnboc"u Compensation Base um defined bySection 2.5-43(h) nuu\dp|icd by the Group l Mmrohur`s years of Credited Service from October ), 2013 ond| date of termination. (3) The pension should he puvah|o nouutb\y on the first day of each nuwutb oornozeuuiog with the n000tb following the Board's approval of the Group l Member's pension. This retirement pension mbo)| be defined as the "Group D Member Standard Pension Benefit B." (c) Alternative Pension Benefit, In lieu of the Group I Member Standard Pension Benefit B, a Group l Member may irrevocably elect with his or her spouse's consent (where applicable), in advance of his or her n:ticmounut and pursuant to regV|uhoux and requirements the Board in its discretion may adopt, to receive no "Alternative Pension Benefit" which uhuU be /\cruudu|\y Equivalent to the Group lMeubcr'a S\uudund Pension BeoofitB and which shall he payable in two (2) parts: (i) one (1) part in a lump sum amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent of the Group I Member's Standard Pension Benefit, which lump sum shall be payable on the date benefits commence under (ii); and (ii) the remainder iouo annual life pension, payable monthly oothe first day nf each month commencing with the month following the Board's approval of the Group I Member's pension. (d) L/m/uz//ux on Alternative Pension Benefit. Notwithstanding any other provision in this Division to the contrary, the option to elect un Alternative Pension Benefit shall not be available for any disability benefit under Souhoo 2.5-46` death benefit under Section 2.5-47, or000nui Vested 7`sonioutiou Pension under Section 2.5'44, nor shall it be available to any retired employee who is receiving pension heuofi{ohereunder asof the effective date ot the Alternative Pension Benefit provisions of this Division, nor shall itbe available upon ce'retirerueotto any retired Group I Member who becomes re-employed hythe City. 0,dbnauce No. 2047l-l0-2O|2 Page O4nf92 See. 2.5-46. Disability Pension (a) See Section 2.5-7 for General Provisions related to disability pension. (b) Disability in Line of'Duty. If a Group I Member, whether or not Vested, becomes disabled as defined in Section 2.5-7, while in Line of Duty, the Group I Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group I Member's Compensation Base multiplied by the Group I Member's total years of Credited Service which would have accrued if the Group I Member had worked to the Group I Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00) per month. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base shall be two and three quarters (2.75) percent, unless the Group I Member is already eligible to retire on or after the Group I Member's Normal Retirement Date, in which case the specified percentage shall be three(3.0) percent. (c) Disability Not in Line of Duty for Vested Group I Members nose Disability Pension Commences Prior to October 1, 2013: If a Vested Group I Member becomes disabled as defined in Section 2.5-7, while not in Line of Duty, and the Group f Member's pension commences prior to October 1, 2013, the Group I Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group I Member's Compensation Base, multiplied by the Group I Member's total years of Credited Service to date of actual retirement. For purposes of the proceeding sentence, the specified percentage of the Group I Member's Compensation Base shall be two and seventy-five one-hundredths (2.75) percent, unless the Group t Member is already eligible to retire on or after the Group I Member's Normal Retirement Date, in which case the specified percentage shall be three (3.0) percent. (d) Disability Not in Line of Duty for Vested Group I Members Whose Disability Pension Commences On or After October 1, 2013: If a Vested Group I Member becomes disabled as defined in Section 2.5-7, while not in Line of Duty, and the Group I Member's pension commences on or after October 1, 2013, the Group I Member shall receive an annual life pension, the amount of which shall be determined by adding the following: (1) a specified percentage of the Group I Member 's Compensation Base as defined by Section 2.5-43(a)(1) if hired and Vested prior to October 23, 2007, or a specified percentage of the Group I Member's Compensation Base as defined by Section 2.5- 43(a)(2) if hired prior to July 1, 2011 and not Vested by October 23, 2007, multiplied by the Group I Member's years ofCredited Service from date of hire until September 30, 2013. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base for Credited Service pursuant to this subsection shall be two and three quarters (2.75) percent; and (2) a specified percentage of the Group I Member's Compensation Base as defined by Section 2.5-43(b) multiplied by the Group I Member's years of Credited Service from January 1, 2013, until the date of disability. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base for Credited Service pursuant to this subsection shall be two and one quarter(2.25) percent. Ordinance No, 20471-10-2012 Page 65 of 92 (e). Disability Not in Line of0utyfor Non-Vested Group IMem6ers. l[u Group [ Member becomes disabled vvbiln not in ljot of Duty hofbn: the Group I Member is \/nntnd, dbco such Group I Member shall be entitled to receive acontribution reFundin accordance with Section 2.5'44(u). See. 2.5-47. Death V8mwufIt (u) NyIz//o in Line of Duty. (l) IfaGroup l Member dies before retirement while in Line ofDuty and as urnuu|t of the performance ufthat Group l Member's duties, the surviving widow or widower obu|| be entitled to receive a monthly pension, the amount ofwhich abu|| be seventy-five (75) pe-rcent of the Group I Member's standard pension, based on the number of years of Credited Service that n/uu|d have accrued had the Group L Member lived to the Group l Member's Normal Rcdrcoucnt Date, but not |eau than two hundred fifty dollars ($250.00). (2) Each dependent child under eighteen (l8) years uf age of such Group I Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars /$100.00>' provided however, that if no surviving widow or widower xbu|| be entitled to receive u monthly pension pursuant to the teoox of this Division, all such dependent children abol| uburc equally o monthly pension, the amount ofwhich shall be seventy-five (75) percent of the Group I Member's pension, based on the number of years of Credited Service that would have accrued had the Group l Member lived to the Group } B&ezuhor'm Nomou| Bc{ireruout Date, but not |cma than two hundred fifty dollars /$250,00\. (3) If a Group I Mernber dies while in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) shall be sohded to receive u ruVutb)y pension, the amount of which shall be seventy-five (75) pmr0001 of the Group T Member's accrued pension projected to the Group [ Member's Normal Retirement I)u<e` but not less than two hundred fifty dollars ($250.00). (4) The survivor's monthly pension benefit for o Group I Member who dies in Line of Duty shall be calculated using o multiplier of three(2.0) peroouL (h) While Not/n Line o/Duty. /l\ Vested Group yMembur no Dies Not/n Line o/I)utyand Wbnxo Survivor's Monthly Pension Begins Prior to October /. JV/]: u. If a Vested Group I Member dies before retirement, while not in Line of Duty, and the survivor monthly pension benefits begins prior tm (}ntohnr l, 2013, then the surviving widow or widower obu]| be eudt|cd to receive a r000tb|y pension, the amount of which shall be seventy-five (75) percent of the Group I Member's Ordinance No. 2847] 10-2012 Page 66of92 accrued pension but not less than one hundred fifty dollars ($150.00). b. Each dependent child under eighteen (18) years of age of such Vested Group I Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00); provided, however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this subsection, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group I Member's accrued pension, but not less than one hundred fifty dollars ($150.00). c. If a Vested Group I Member dies while not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit under this subsection, but is survived by a dependent parent or parents, such dependent parents of the surviving dependent parent shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group I Member's accrued pension, projected to the Group I Member's Normal Retirement Date, but not less than one hundred fifty dollars ($150.00). d. For purposes of Section 2.5-47(b)(1), a Group I Member's accrued pension shall be calculated using a multiplier of two and seventy-five one-hundredths (2.75) percent, unless the Group I Member had reached the Group I Member's Normal Retirement Date prior to death, in which event the multiplier shall be three(3.0) percent. (2) Vested Group I Member Who Dies Not In Line of Duty and Whose Survivor's Monthly Pension Begins On or After October 1, 2013: a. If a Vested Group I Member dies before retirement, while not in Line of Duty, and the survivor pension begins on or after October 1, 2013, then the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group I Member's accrued pension but not less than one hundred fifty dollars ($150.00). The accrued pension shall be calculated by adding the following: 1. A specified percentage of the Group I Member's Compensation Base as defined by Section 2.5-43(a)(1) if hired and Vested prior to October 23, 2007, or a specified percentage of the Group I Member's Compensation Base as defined by Section 2.5-43(a)(2) if hired prior to July 1, 2011 and not Vested by October 23, 2007, multiplied by the Group I Member's years of Credited Service from date of hire until September 30, 2013. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base for Credited Service for this time period shall be two and three quarters(2.75) percent; and 2. a specified percentage of the Group I Member's Compensation Base as defined by Section 2.5-43(b), multiplied by the Group I Member's years of Ordinance No. 20471-10-2012 Page 67 of 92 Credited Service from October 1, 2013, until the date of death. For purposes of the preceding sentence, the specified percentage of the Group I Member's Compensation Base for Credited Service for this time period shall be two and one quarter(2.25) percent. b. Each dependent child under eighteen (18) years of age of such Vested Group I Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), provided, however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Section, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group I Member's accrued pension, but not less than one hundred fifty dollars (S 150.00). c. If a Group I Member dies while not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group I Member's accrued pension, but not less than one hundred fifty dollars (8150.00). (3) Group I Member Not Vested at Time of Death. If a Group I Member was not Vested on the date of death, the surviving widow or widower shall be entitled to the return of all contributions which the Group I Member paid into the Fund during the Group I Member's life plus Regular Interest thereon (at the Regular Interest rate in effect on the date of any payment to the widow or widower). If there is not a surviving widow or widower, the contributions shall be paid to the estate of the Group I Member. (c) After Retirement. (1) Upon the death of a Group I Member, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the pension being paid to the Group I Member, provided that the Group I Member and surviving widow or widower had been married for at least one (1) year immediately prior to the Group I Member's retirement. Notwithstanding the preceding sentence, a surviving widow or widower who was not married to the deceased Group I Member for at least one (1) year immediately prior to the Group I Member's retirement shall be eligible to receive a monthly pension if the Group I Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director, within six (6) months after the Group I Member's completion of two (2) years of marriage to the Group I Member's spouse. The reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial "fables in effect on the date of the Group I Member's election to receive a reduced monthly pension. If such an election has been made, the surviving widow or widower shall receive a monthly pension for life equal to seventy-five (75) percent of the Group I Member's reduced monthly pension. Ordinance No. 20471-10-2012 Page 68 of 92 (2) Upon the death of a Group I Member who was not married at retirement, a Beneficiary designated by a Group I Member at retirement may be eligible to receive a monthly pension if the Group I Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director. The Group I Member's reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group I Member's election to receive a reduced monthly pension. If such an election has been made, the Group I Member's designated Beneficiary shall receive a monthly pension for life equal to one hundred (100) percent, seventy-five (75) percent, fifty (50) percent, or twenty-five (25) percent of the Group I Member's reduced monthly pension. If a Group I Member who was not married at retirement and who selected a designated Beneficiary pursuant to this subsection later marries only the designated Beneficiary would be entitled to receive a lifetime monthly pension. (3) Each dependent child under eighteen (18) years of age of such deceased Group I Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00) but shall cease upon the earliest of such child's death, marriage or attainment of age eighteen (18); provided, however, that if no surviving widow, widower, or designated Beneficiary shall be entitled to a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the pension being paid to the Group I Member at the time of his or her-death. (d) Death of Vested Terminated Group I k ember Prior to Pension Commencing. If a terminated Group I Member entitled to a pension under the provisions of Section 2.5-44 dies before the Group I Member's pension commcnees, the Group I Member's designated Beneficiary, or if none, the Group I Member's estate shall receive an amount equal to the Group I Member's total contributions to the Fund, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment). If the Vested Group I Member's years of age and years of Credited Service total at least sixty-five (65) as of the date of the Group I Member's termination, the Group I Member's eligible dependents shall receive the benefit specified under Section 2.5- 47(b), based on the pension to which the Group I Member would have been entitled as of the date of the Group I Member's death, in lieu of the payment of contributions plus Regular Interest. If the Group I Member's years of age and Credited Service did not total at least sixty- five (65) as of the date of the Group I Member's termination, the Group I Member's eligible dependents may choose between the reFund of contributions, the payment of the survivor benefit at the date the Group I Member would have been eligible to draw the benefit, or an immediate benefit at an actuarially reduced rate. Sec. 2.5-48-49: Reserved Ordinance No, 20471-10-2012 Page 69 of 92 DIVISION 5. PROVISIONS FOR GROUP XK MEMBERS (GENERAL EMPLOYEES HIRED ON OR AFTER JULY l, 280) See. Z.5-5O, Applicability This Division applies to Group D Members ux defined by Section Z.5'l. Sec, 2.5-51. Earnings (u) For Credited Service earned prior to {)o(obcr \, 2013` 6uruiogu shall nzcuo the un)ouoi actually paid to o Group 11 Member by the City for mun/iocu rendered to the City during the calendar year, plus overtime, acting, assigni-nent, holiday, longevity, educational incentive, safety uv/uud, incentive and shift differential pay, as reported on the Group II Member's VV-2 form. ^^Euroiogu" shall also include weekly workers' conupcoxadnn bcucOto (currently referred to as temporary income benefits), beginning for such amounts received hy Group II Mernhecn on or after January l, 2006, so long as required by 1uvv. l{ogund)com of the fact that the following payments may be shown upon a Group 11 Member's W-2 form, Earnings shall not include: (\) Any uuo-xa|ury a||ovvuooe (such as uniform reimbursement, automobile uUovvuuce or mileage, c(c); (2) Lump sum payments received ,d time nf termination for unused vacation leave, sick leave and personal leave; (3) Any award by u court, administrative body, or metdcnocot ugreccucut in excess of Earnings; (4) Any upayment received from the City's Wellness Program � (5) Any amount received from the City's vacation sell-back program; and (0) Any amount paid to u (3roup l| Member for which the City does not contribute to the Fund under Section 2.5 3. A Group 11 Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group 11 Member during the calendar year added 10 Earnings reported on the Group I{ Member's W'2 tbzm to arrive at total Earnings [br Fund matters. Mandatory Group 11 Member contributions that are picked-up by the City and excluded from u Member's W'2 fbmo nbu|| also be included as part of Euonings. Notwithstanding the foregoing, Eunoioga in excess of two hundred thousand dollars ($200,000.00), if any (or such other um0001m as may be determined by taking into account the cost-of-living odiumtrocn1 provided under Section 401(u)(}7) of the Code) mbul| he disregarded for all purposes of this definition. Notwithstanding the preceding provisions, 2ucniogm mbaK not include any amounts paid following a Group 11 Member's effective DROP Election. Ordinance No. 20471-i0-2U\2 Page 7Onfy2 (b) For Credited Service earned onmafter October l, 20l3, Earnings shall mean the amount actually paid to n Group TI Member for services rendered to the City during the calendar yeor, plus acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on the Group D Menohcr`a YV'Z tboo. "Euroingo" xbuU also include weekly workers' compensation bcocfiLs (nuowody referred to as temporary income benefits), beginning for such amounts received by Group D Members on or after January |, 2006, uo long um required hylaw. 0urmkogm dmmm not include overtime. Regardless o[the fact that the following payments may ho ahon/o upon [}coup ll Member's VV-2 form, Buroiogm shall not include: (|) Any non-salary allowance (aoob as uniform reimbursement, automobile allowance or mileage, etu]; (2) Lump sum payments received a1 time of tcrn)ioubou for unused vacation leave, sick leave and personal leave; (3) Any uvvuuj by unoud, administrative body, or settlement uQ7oonucut in excess of Earnings; (4) Any payment received from the City's Wellness Program; (5) Any amount received from the City's Vacation sell-back program; and (0) Any amount paid to u ()roup [I Member for which the City does not contribute to the Fund under Section 2.5-3. A Group 11 Member participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Group 11 Member during the calendar year added to Earnings reported on the Group l{ Member's W-2 Dnoo to arrive at total Bacuiogo for Fund matters. Mandatory Group II Member contributions that are picked-up hy the City and excluded from a Member's \V-Z 6uon obul1 also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred (bouunod do\\uca ($200`000.00), if any (or such other amounts as may be determined by taking into account the ooa(-of-|iviog adjustment provided Linder Section 4Ol(o)(l7) of the Code) ubx|\ be disregarded for all puznnmou of this definition. Notwithstanding the preceding provisions, Earnings shall not include any amounts paid following a Group 11 Member's effective DROP Election. See. 2.5-52. Retirement Dates (u) /Vo//mu/ Retirement /lu/e. A Group lI Member hired no or after July l, 2011' shall be eligible for pension benefits on or after the Group ll Munubor'mN000a| Retirement Date vrbiob shall be the last day of the month in which the Group 11 Member reaches age fifty-five (55), and io which the earliest of the following occurs: (i) The Group TT Member's years of age (rnioinourn age of fifty-five (55)) and years of Credited Service total eighty (80); or 0/diuuooe No.2047l 10'2012 Page 71 of 92 (ii) The later of(1) the date on which the Group II Member reaches age sixty-five (65) or (ii) the fifth anniversary of the date the Group II Member joined the Fund. (b) Vested Retirement Date, A Vested Group 11 Member hired on or after July 1, 2011, who is voluntarily or involuntarily separated from the service of the City prior to their Normal Retirement Date shall be eligible for pension benefits on or after such Group 11 Member's Vested termination date which shall be the last day of the month in which the Group II Member reaches age fifty-five (55), and in which the Group I1 Member's years of age [minimum age of fifty-five (55)] and years of service total eighty(80). See. 2.5-53. Compensation Base for Determining Benefits for Group 11 Members (a) For a Group 11 Member, pension, death, disability and Vested termination benefits shall be based upon the Group II Member's Compensation Base which shall mean the average annual Earnings, excluding overtime, which were paid to the Group 11 Member by the City for employment with the City during any five (5) calendar years in which he or she had the highest annual Earnings (excluding overtime). (b) If a Group II Member has less than five (5) calendar years of employment, the Group 11 Member's Compensation Base shall be determined by the Executive Director under uniform, non-discriminatory procedures that are consistently applied. (c) For Compensation Base purposes, any lump sum payments of Earnings for any prior time period, whether awarded to the Group II Member by a court, administrative body or settlement agreement, shall be retroactively attributed to the calendar year in which it would otherwise have been received by the Group It Member from the City for services rendered. For purposes of computing the Compensation Base for a Group II Member who has made an effective DROP Election, the Group II Member's Compensation Base shall be calculated using the Group 11 Member's Earnings (excluding overtime) prior to the effective date of the DROP Election. (d) For the time period from July 1, 2011, through September 30, 2013, both City contributions and Group II Member contributions "picked up" by the City on overtime will be placed in a Cash Balance Account for each Group 11 Member to be administered by the Fund. A Group 11 Member will be eligible to receive the proceeds in the Cash Balance Account plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) upon Termination of Employment from the City. However, a Group 11 Member who retires from the City under a normal retirement, special retirement, disability retirement, or early retirement is entitled to receive a dollar-for-dollar match of the proceeds in the Cash Balance Account plus a dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account upon retirement. A Group II Member who retires from the City under a Vested termination retirement is entitled to receive a dollar-for-dollar match of the proceeds in the Group II Member's Cash Balance Account, and a dollar-for-dollar match of the Regular Interest on the cash balance up until the date of the Group II Member's `Termination of Employment with the City. However, the Group II Member is not entitled to any interest on the Cash Balance Account after the date of the Group 11 Member's Ordinance No. 20471-10-2012 Page 72 of 92 Termination of Employment with the City. An eligible surviving widow or widower, dependent child or children, or dependent parent or parents of a Group 11 Member who dies prior to retirement would also be entitled to receive a dollar-for-dollar match of the proceeds in the Cash Balance Account plus a dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account. (e) Overtime is not included in the definition of Earnings for Credited Service earned or purchased on or after October 1, 2013. Sec. 2.5-54. Termination Benefits and Vesting (a) Contribution Refund Prior to Vesting. Any Group II Member hired on or after July 1, 2011, who is voluntarily or involuntarily separated from the service of the City before the Group 11 Member is Vested shall be entitled to receive the amount of the Group II Member's contributions, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) including any proceeds in the Group 11 Member's Cash Balance Account, less any amount previously paid to the Group 11 Member from the Fund. (b) Vested Termination Pension. (1) A Vested Group 11 Member, who is voluntarily or involuntarily separated from the service of the City shall be entitled to receive a Vested Termination Pension payable: (i) in full pursuant to Section 2.5-52(b) or(ii) in a reduced amount commencing on or after age fifty-five (55). A Group II Member must file a request for the commencement of the Vested Termination Pension by completing such forms and following such procedures as are established by the Board. A Vested Termination Pension shall be payable monthly on the first day of each month commencing with the month following approval of the Group II Member's Vested Termination Pension by the Board. (2) A Vested Termination Pension shall be an annual life pension, the amount of which shall be the specified percentage of the Group 11 Member's Compensation Base multiplied by the Group II Member's total years of Credited Service to date of such voluntary or involuntary separation from the service of the City. For purposes of the preceding sentence, the specified percentage of the Group 11 Member's Compensation Base shall be two and twenty-five one hundredths (2.25) percent, unless the Group II Member has attained his or her Normal Retirement Date prior to the date the Group 11 Member's pension payments begin, in which case the specified percentage shall be two and fifty one-hundredths (2.50) percent. A Vested Termination Pension shall be calculated using the "multiplier" ("specified percentage") in effect at the time the Credited Service is earned or purchased. (3) In addition to the reduced multiplier described in Section 2.5-54(b)(2), the amount of reduction for early commencement of a Vested Termination Pension prior to the Group II Member's Normal Retirement Date shall be five-twelfths (5/12)percent for each month by which commencement of the pension antedates the Group 11 Member's Normal Retirement Date had the Group II Member remained employed by the City. Ordinance No.20471-10-2012 Page 73 of 92 (c) Contribution ReFund After Vesting in Lieu of Nested Termination Pension. Any Vested Group II Member who is voluntarily or involuntarily separated from the service of the City may elect to receive a reFund of the Group II Member's contributions, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) including any proceeds in the Group II Member's Cash Balance Account less any amount previously paid to the Group II Member from the Fund, either at the date of such separation or at any time thereafter prior to commencement of Retirement Benefit, but by so doing, the Group 11 Member shall forfeit all rights under the Fund and thereafter be entitled to no further benefits hereunder. Sec.2.5-55. Retirement Pension (Benefit) (a) Pensions Commencing upon Normal Retirement Date. A Vested Group II Member who retires on or after the Group II Member's Normal Retirement Date and requests commencement of the Group II Member's pension, or a Group II Member who terminates employment prior to the Group II Member's Normal Retirement Date and who waits until such Vested retirement date to apply for a pension, shall receive an annual life pension, the amount of which shall be two and fifty one-hundredths (2.50) percent of the Group II Member's Compensation Base multiplied by the Group II Member's total years of Credited Service, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group II Member's Retirement Benefit. This Retirement Benefit shall be called the "Group II Member Standard Pension Benefit." (b) Alternative Pension Benefit. In lieu of the Group II Member Standard Pension Benefit, a Group II Member may irrevocably elect with his or her spouse's consent (where applicable), in advance of his or her retirement and pursuant to regulations and requirements the Board in its discretion may adopt, to receive an "Alternative Pension Benefit" which shall be Actuarially Equivalent to the Group II Member's Standard Pension Benefit and which shall be payable in two (2) parts: (i) one ('1) part in a lump sum amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent of the Group II Member's Standard Pension Benefit, which lump sum shall be payable on the date benefits commence tinder (ii); and (ii) the remainder in an annual life pension, payable monthly on the first day of each month commencing with the month following the Board's approval of the Group II Member's pension. (c) Limitation on Alternative Pension Benefit. Notwithstanding any other provision in this Division to the contrary, the option to elect an Alternative Pension Benefit shall not be available for any disability benefit under Section 2.5-56, death benefit under Section 2.5-57, or normal Vested Termination Pension under Section 2.5-54, nor shall it be available to any retired employee who is receiving pension benefits hereunder as of the effective date of the Alternative Pension Benefit provisions of this Division, nor shall it be available upon re-retirement to any retired employee who becomes re-employed by the City. Ordinance No.20471-10-2012 Page 74 of 92 See. 2.5-56. Disability Pension (a) See Section 2,5-7, for General Provisions related to disability pension (b) Disability in Line of Duty. If a Group 11 Member hired on or after July 1, 2011, whether or not Vested, becomes disabled as above defined while in Line of Duty, the Group 11 Member shall receive an annual life pension, the amount of which shall be the specified percentage of the Group 11 Member's Compensation Base multiplied by the Group II Member's total years of Credited Service which would have accrued if the Group 11 Member had worked to the Group It Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00) per month. For purposes of the preceding sentence, the specified percentage of the Group It Member's Compensation Base shall be two and twenty-five one hundredths (2.25) percent, unless the Group 11 Member is already eligible to retire on or after the Group 11 Member's Normal Retirement Date, in which case the specified percentage shall be two and fifty one- hundredths (2.50) percent. (c) Disability Not in Line oj'Duty far Vested Group II Members. If a Vested Group 11 Member as defined by Section 2.5-7 becomes disabled as above defined while not in Line of Duty, the Group 11 Member shall receive an annual life pension, the amount of which shall be the if multiplied specified percentage of the Group it Member's Compensation Base mult plied by the Group 11 Member's total years of Credited Service to date of actual retirement. For purposes of the preceding sentence, the specified percentage of the Group 11 Member's Compensation Base shall be two and twenty-five one-hundredths (2.25) percent, unless the Group 11 Member is already eligible to retire on or after the Group It Member's Normal Retirement Date, in which case the specified percentage shall be two and fifty one-hundredths (2.50)percent. (d) Disability Not in Line of Duty far Non-Vested Group 11 Members. If a Group 11 Member becomes disabled while not in Line of Duty before the Group 11 Member is Vested, then such Group 11 Member shall be entitled to receive a contribution reFund in accordance with Section 2.5-54(a). See. 2.5-57. Death Benefits (a) In Line of Duty (1) If a Group 11 Member dies before retirement while in Line of Duty and as a result of the performance of that Group 11 Member's duties, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group 11 Member's pension, based on the number of years of Credited Service that would have accrued had the Group 11 Member lived to the Group 11 Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). The surviving widow or widower shall also be entitled to the proceeds in the Group 11 Member's Cash Balance Account and a dollar-for-dollar match of the proceeds in the Group 11 Member's Cash Balance Account plus a dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account, if applicable. Ordinance No. 20471-10-2012 Page 75 of 92 CD Each dependent child of such Group D Member under age eighteen (|O) shall be entitled to rccc ^c a monthly pension, the uoonun{ of which oboJ\ be one hundred dollars lO0.00)` provided however, that ifuo surviving widow oc widower mbu)1 be eob(}ud to receive u monthly pension pursuant to thut000a of this Division, all such dependent children shall abaco equally a monthly pension, the amount ofwhich xbu)| be seventy-five (75) percent ofthe Group II Member's pension, based on the number ofyears of Credited Service that would have accrued had the Group II Member lived to the Group II Member's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00), plus the proceeds in the Group II Member's Cuob Balance Account, and u dollar-for- dollar nootoh of the proceeds in the Group ll 88urohor'a Cash Balance Account plus u dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account, if applicable. (3) If a Group 11 Mernber dies while in Line of Duty and leaves no widow or widower oc children eligible 10 receive u benefit hereunder, but is survived byu dcpcodoo1 parent or parents, such dependent pu,noto or the surviving dependent parent shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group lI Member's accrued pension projected to the Group ll Member's Nonuu) Retirement Date, but not less than two hundred fifty dollars ($25O.O0)` plus the proceeds in the Group I] Mtnobcc'm Cash 8u1a000 Account, and u dollar-for-dollar ooutob of tile proceeds in Group ll Member's Cash 8uluooc &00000t plus u dn]|upfbr-do||ur ooutob of the Regular Interest (at the Regular Interest rate in effect oo the date of such payment) ou the proceeds in the Cash Balance Account, ifapplicable. (4) The survivor's rnoodzly pension benefit for Group ll Member who dies in Lion of Duty shall be calculated using u nou|dp|iez of two and fifty one-hundredths (2.5) percent. (b) "//e Not/x Line»f/)o/y (\) Vested Group/IMember. u. If u Vested Group l| Member diem before rodncoocot, vvbilc not in Line of Duty, the surviving widow or widower shall be oodUed to receive a nzoodb|y pension, the amount ofwhich shall be seventy-five (75) percent oftile Group 11 Member's accrued pension but not |cmm than one hundred fifty dollars ($150.00), p|ox the proceeds iu the Group I| Member's Cash Balance Account, and udollm` fbr-do1|ozcuu1oboftbuprnoecdniutbcGroup ]] Mcnobcr'xCoubBu|oucoAc000ut plus u dollar-for-dollar match of the Regular Interest (at the Regular Interest rote in effect on the date of such payment) on the proceeds in the C4ob Balance Account, ifapplicable, b. Each dependent child under eighteen (18) years of age ofsuch \/oxtnd Group [l Member ohu|| he oohdcd to receive u nuooih}y pooaioo` the uonouut of which mhui| be one hundred dollars ($100.00); provided, however, that if no surviving Ordinance No.Z047l 10-2012 Page 76o[92 widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Group 11 Member's accrued pension, but not less than one hundred fifty dollars ($150.00), plus the proceeds in the Group 11 Member's Cash Balance Account, and a dollar- for-dollar match of the proceeds in Group 11 Member's Cash Balance Account plus a dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account, if applicable. c. If a Group 11 Member dies while not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parents or the surviving dependent parent shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Group 11 Member's accrued pension, but not less than one hundred fifty dollars ($150.00), plus the proceeds in the Group 11 Member's Cash Balance Account, and a dollar-for-dollar match of the proceeds in Group 11 Member's Cash Balance Account plus a dollar-for-dollar match of the Regular Interest (at the Regular Interest rate in effect on the date of such payment) on the proceeds in the Cash Balance Account, if applicable. d. The survivor's monthly pension benefit for a Vested Group 11 Member who dies not in Line of Duty shall be calculated using a multiplier of two and twenty- five one-hundredths (2.25) percent. (2) Group H Member Not Vested At Time of Death. If a Group 11 Member was not Vested on the date of death, the surviving widow or widower shall be entitled to the return of all contributions which the Group 11 Member paid into the Fund during the Group 11 Member's life plus Regular Interest thereon (at the Regular Interest rate in effect on the date of any payment to the widow or widower). If there is not surviving widow or widower, the contributions shall be paid to the estate of the Group 11 Member. (c) After Retirement. (1) Group H Members Who are Married at Retirement. Upon the death of a retired Group 11 Member, the surviving spouse of the Group 11 Member may be eligible to receive a monthly pension if the Group 11 Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director. The Group 11 Member's reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group 11 Member's election to receive a reduced monthly pension. Notwithstanding the preceding, a surviving spouse who was not married to the deceased Group 11 Member at the time of the Group 11 Member's retirement shall be eligible to receive a monthly pension if the Group 11 Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director, within six (6) months after the Group 11 Member's completion of Ordinance No.2047 1-1 0-2012 Page 77 of 92 two (2) years of marriage to the Group II Member's spouse. The reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group II Member's election to receive a reduced monthly pension. The Group II Member can elect for his or her surviving spouse to receive either one hundred (100) percent, seventy-five (75) percent, fifty (50) percent, or twenty-five (25) percent of the Group II Member's reduced monthly pension. (2) Group II Members Who Are Not Married on Date of Retirement. Upon the death of a retired Group II Member who was not married at retirement, a Beneficiary designated by the Group II Member at retirement may be eligible to receive a monthly pension if the Group II Member has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director. The Group II Member's reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Group II Member's election to receive a reduced monthly pension. The Group II Member can elect for his or her designated Beneficiary to receive either one hundred (100) percent, seventy-five (75) percent, fifty (50) percent, or twenty-five (25) percent of the Group II Member's reduced monthly pension. If a Group II Member who was not married at retirement and who selected a designated Beneficiary pursuant to this Section later marries, only the designated Beneficiary would be entitled to receive a lifetime monthly pension. (3) Each dependent child under eighteen (18) years of age of such deceased Group II Member shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), but shall cease upon the earliest of such child's death, marriage or attainment of age eighteen(18) pursuant to the terms of this Division. (d) If a terminated Group II Member entitled to a pension under the provisions of this Division dies before the Group II Member's pension commences, the Group II Member's designated Beneficiary, or if none, the Group II Member's estate shall receive an amount equal to the Group II Member's total contributions to the Fund, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment), including any proceeds in the Group II Member's Cash Balance Account, if applicable. If the Vested Group II Member's years of age and years of Credited Service total at least sixty-five (65) as of the date of the Group II Member's termination, the Group II Member's eligible dependents shall receive the benefit specified under Section 2.5-57(b), based on the pension to which the Group II Member would have been entitled as of the date of the Group lI Member's death, in lieu of the payment of contributions plus Regular Interest. If the Group II Member's years of age and Credited Service did not total at least sixty-five(65) as of the date of the Group II Member's termination, the Group II Member's eligible dependents may choose between the reFund of contributions, the payment of the survivor benefit at the date the Group II Member would have been eligible to draw the benefit, or an immediate benefit at an actuarially reduced rate. Sec. 2.5-58-2.5-60: Reserved Ordinance No. 20471-10-2012 Page 78 of 92 DIVISION 6. PROVISIONS APPLICABLE TO FIREFIGHTERS ONLY See. 2.5-61. Earnings (a) Earnings shall mean the amount actually paid to a Firefighter by the City for services rendered to the City during the calendar year, plus overtime, acting, assignment, holiday, longevity, educational incentive, safety award, incentive and shift differential pay, as reported on a Firefighter's W-2 form. "Earnings" shall also include weekly workers' compensation benefits (currently referred to as temporary income benefits), beginning for such amounts received by Firefighters on or after January 1, 2006, so long as required by law. Regardless of the fact that the following payments may be shown upon a Firefighter's W-2 form, Earnings shall not include: (1) Any non-salary allowance (such as uniform reimbursement, automobile allowance or mileage, etc.), (2) Lump sum payments received at time of termination for unused vacation leave, sick leave and personal leave, (3) Any award by a Court, administrative body, or settlement agreement in excess of Earnings, and (4) Any amount paid to a firefighter for which the City does not contribute to the Fund under this Section. A Firefighter participating in a City-sponsored deferred compensation plan shall have the amount of any deferred compensation credited to that Firefighter during the calendar year added to Earnings reported on the Firefighter's W-2 form to arrive at total Earnings for Fund matters. Mandatory Firefighter contributions that are picked-up by the City and excluded from a Firefighter's W-2 form shall also be included as part of Earnings. Notwithstanding the foregoing, Earnings in excess of two hundred thousand dollars ($200,000.00), if any (or such other amounts as may be determined by taking into account the cost of living adjustment provided under Section 401(a)(17) of the Code) shall be disregarded for all purposes of this definition. Notwithstanding the preceding provisions of this definition of Earnings, Earnings shall not include any amounts paid following a Firefighter's effective DROP Election. Sec. 2.5-62. Retirement Dates (a) Normal Retirement Date, A Firefighter shall be eligible for a standard pension benefit or an Alternative Pension Benefit on or after the Firefighter's Normal Retirement Date which shall be the last day of the month in which the earliest of the following occurs: (1) The Firefighter's years of age and years of Credited Service total eighty(80); or (2) The later of(i) the date on which the Firefighter reaches age sixty-five (65) or (ii) the fifth anniversary of the date the Firefighter joined the Fund. Ordinance No.20471-10-2012 Page 79 of 92 (b) Vested Terminated Retirement Date. A Vested Firefighter who is voluntarily or involuntarily separated from the service of the City shall be eligible for pension benefits on or after such Firefighter's Vested termination date which shall be the last day of the month in which the Firefighter reaches age fifty (50), or, if earlier, the last day of the month in which the Firefighter would have attained his or her Normal Retirement Date had the Firefighter remained employed by the City. Sec. 2.5-63. Compensation Base for Determining Benefits (a) For Firefighters Hired and Vested before October 23, 2007 (Not Subject to Earnings Cap) Normal retirement pension, death pension, disability pension and Vested termination pension shall be based upon the Firefighter's Compensation Base which shall mean the average annual Earnings which were paid to the Firefighter by the City for employment with the City during any three (3) of five (5) calendar years in which the Firefighter had the highest annual Earnings. If a Firefighter's last day of employment with the City is on or after January 1, 1999, "three (3)" shall be substituted for"five (5)" in the preceding sentence. If a Firefighter has less than five (5) [or if applicable, three (3)] calendar years of employment, the Firefighter's Compensation Base shall be determined by the Executive Director under uniform, non-discri minatory procedures that are consistently applied. For Compensation Base purposes, any lump sum payments of Earnings for any prior time period, whether awarded to the Firefighter by a court, administrative body or settlement agreement, shall be retroactively attributed to the calendar year in which it would otherwise have been received by the Firefighter from the City for services rendered. For purposes of computing the Compensation Base for a Firefighter who has made an effective DROP Election, the Firefighter's Compensation Base shall be calculated using the Firefighter's Earnings prior to the effective date of the DROP Election. (b) For Firefighters Not Vested by October 23, 2007 or hired On or After October 23, 2007 (Subject to Earnings Cap) For a Firefighter who was not Vested by October 23, 2007 or was hired on or after October 23, 2007 and whose last day of employment with the City is on or after January 1, 1999, and whose benefits commence on or after December 31, 2008, the Firefighter's Compensation Base shall be calculated as follows: (1) The Fund shall determine the four(4) calendar years in which the Firefighter had the highest annual Earnings. Of such four (4) years, the year in which the Firefighter had the lowest annual Earnings shall serve as the base year. The base year shall not be included as one (1) of the three (3) calendar years for purposes of the Compensation Base calculation. (2) The first annual Earnings to be used in the calculation of the Firefighter's Compensation Base shall be the actual annual Earnings from the calendar year with the third highest annual Earnings of the four (4) calendar years identified in Section 2.5- 63(b)(1)a. provided that if such annual Earnings are from a calendar year beginning on or Ordinance No. 20471-10-2012 Page 80 of 92 after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the first year shall not exceed one hundred twelve (112) percent of the annual Earnings for the base year. (3) The second annual Earnings to be used in the calculation of the Firefighter's Compensation Base shall be the actual annual Earnings from the calendar year with the second highest annual Earnings of the four (4) calendar years identified in Section 2.5- 63(b)(I)a., provided that if Such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the second year shall not exceed one hundred twelve (112) percent of the annual Earnings used that are attributable to the year described in Section 2.5-63(b)(I)b. (4) The third annual Earnings to be used in the calculation of the Firefighter's Compensation Base shall be the actual annual Earnings from the calendar year with the highest annual Earnings of the four(4) calendar years identified in Section 2.5-63(b)(I)a. provided that if such annual Earnings are from a calendar year beginning on or after January 1, 2008, the amount to be used in the calculation of the Compensation Base for the third year shall not exceed one hundred twelve (112) percent of the annual Earnings used that are attributable to the year described in Section 2.5-63(b)(I)c. (5) The average of the three (3) amounts determined in accordance with Section 2.5- 63(b)(I)a. through (b)(I)d. will be the average annual Earnings for purposes of the Firefighter's Compensation Base. See. 2.5-64 Termination Bencifits and Vesting (a) Contribution ReFund Prior to Vesting. Any Firefighter who is voluntarily or involuntarily separated from the service of the City before the Firefighter is Vested shall be entitled to receive the amount of the Firefighter's contributions plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) less any amount previously paid to the Firefighter from the Fund. (b) Vested Termination Pension. (1) A Vested Firefighter who is voluntarily or involuntarily separated from the service of the City shall be entitled to receive a Vested Termination Pension payable: (i) in full,pursuant to Section 2.5-65 or(1i) in a reduced amount commencing on or after age fifty (50). A Firefighter must file a request for the commencement of the Vested Termination Pension by completing such forms and following such procedures as are established by the Board. A Vested Termination Pension shall be payable monthly on the first day of each month commencing with the month following approval of the Firefighter's Vested Termination Pension by the Board. (2) A Vested Termination Pension shall be an annual life pension, the amount of which shall be the specified percentage of the Firefighter's Compensation Base multiplied by the Firefighter's total years of Credited Service to date of such voluntary or Ordinance No.2047 1-1 0-20 1 2 Page 81 of 92 involuntary separation from the service of the City. For purposes of the preceding sentence, the specified percentage of the Firefighter's Compensation Base shall be two and seventy-five hundredths (2.75) percent unless the Firefighter has attained his or her Normal Retirement Date or Vested terminated retirement date prior to the date the Firefighter's pension payments begin, in which case the specified percentage shall be three (3) percent. A Vested Termination Pension shall be calculated using the multiplier ("specified percentage") in effect at the time the Vested Termination Pension commences (rather than at the time the Firefighter's employment with the City terminates). (3) In addition to the reduced multiplier described in Section 2.5-64(b)(2), if a Firefighter has not attained his or her Normal Retirement Date or Vested terminated retirement date prior to the date the Firefighter's Vested Termination Pension payments begins, the amount of reduction for commencement of a pension prior to the Firefighter's Normal Retirement or Vested Retirement Date shall be five-twelfths (5/12) percent for each month by which coirunencement of the pension antedates the Firefighter Normal Retirement Date had the Firefighter remained employed by the City. (c) Contribution ReFund after Vesting in Lieu of Vested Termination Pension. Any Vested Firefighter who is voluntarily or involuntarily separated from the service of the City may elect to receive a reFund of the Firefighter's contributions, plus Regular Interest (at the Regular Interest rate in effect on the date of such payment) less any amount previously paid to the Firefighter from the Fund, either at the date of such separation or at any time thereafter prior to commencement of Retirement Benefit, but by so doing, the Firefighter shall forfeit all rights under the Fund and thereafter be entitled to no further benefits. See. 2.5-65. -Retirement Pension for Firefighters (a) Pensions Commencing upon Normal Retirement Date. (1) Standard Pension Benefit. A Vested Firefighter who retires on or after the Firefighter's Normal Retirement Date and requests commencement of the Firefighter's pension, or a Firefighter who terminates employment prior to the Firefighter's Normal Retirement Date and who waits until such Vested Retirement Date to apply for a pension, shall receive an annual life pension, the amount of which shall be three (3.0) percent of the Firefighter's Compensation Base multiplied by the Firefighter's total years of Credited Service, payable monthly on the first day of each month commencing with the month following the Board's approval of the Firefighter 's pension. This Retirement pension shall be defined as the "Firefighter Standard Pension Benefit." (2) Alternative Pension Benefit. In lieu of the Standard Pension Benefit, a Firefighter may irrevocably elect with his or her spouse's consent(where applicable), in advance of his or her retirement and pursuant to regulations and requirements the Board in its discretion may adopt, to receive an "Alternative Pension Benefit" which shall be Actuarially Equivalent to the Firefighter's Standard Pension Benefit and which shall be payable in two (2) parts: (i) one (1) part in a lump sum amount not less than five (5) percent nor greater than twenty-five (25) percent of the Actuarial Equivalent of the Ordinance No. 20471-10-2012 Page 92 of 92 Firefighter's Standard Pension Benefit, which b/nnp sum ubu1 be ouvahie on the date benefits commence under(ii); and (iU the remainder iuuo annual life pension, payable monthly on the first day of each month commencing with the month following the Board's approval o[the Firefighter's Alternative Pension Benefit. (3) Limitation on Alternative Pension 8enefiiNotwithstanding any other provision io this Division h` the contrary, the option to elect unAlternative Pension Benefit shall not be available for any disability pension under Section 2.5'66. death pension under Section 2.5-67, or uoouu| Ycmtcd Termination Pension under Section 2.5-04, nor sbuU it be uvui|uh\c to any Firefighter who is receiving pension benefits as of the effective date of the Alternative Pension Benefit provisions of this Division, nor shall it be available upon re- retirement to any ,udrcd Firefighter who becomes re-employed by the City. See. 2.5-66 Disability Pension (u) See Scubou 2.5'7, for (]eoerui Provisions related to Disability Pension (b) l}bo6/li/y br Line o/Duty, If Firefighter, whether ornot Vested, becomes disabled as defined in Section 2.5-7(u) v,bi|o in Line of Duty, the Firefighter shall receive an uuouul life pension, the amount of which shall be the specified percentage of the Firefighter's Compensation Buse multiplied by the Firefighter's io(u1 years of Credited Service which would have accrued if the Firefighter had worked to the Firefighter's Nvnnm| Drdrunneot [)utn, but not less than two hundred fifty dollars ($250.00) per ouooib. For purposes of the preceding sentence, the specified percentage ofthe Firefighter's Compensation Base shall he two and seventy-five one-hundredths (2.75) percent, uu|cax the Firefighter is already eligible to retire on or after the Firefighter's Normal Retirement Date, iu which case the specified percentage shall hedxee (3.0) percent. (c) Disability not in Line of Duty for Vested Firefighters. {fa Vested Firefighter becomes disabled defined in Section 2.5'7(u) while not in Line of Duty, the Firefighter ako}l receive an uonuu| life pnomiou' the amount of which shall he the specified percentage of the Firefighter's Compensation Base multiplied by the Firefighter's total years of Credited Service to date of uotou| robcooueot. For purposes of the preceding sentence, the specified percentage of the PizcOebtcr'o Compensation Base shall botwo and seventy-five one-hundredths (2.75) percent, uo)eam the Firefighter is already eligible to retire onor after the Firefighter's Normal Retirement [)uto, io which case the specified percentage shall bo three (3.0) percent. (d) I)/sub////y Not in lhze (?f Ditty for Non-Vested Firefighters. If o Firefighter becomes disabled while not io Line of Duty before the Firefighter in Vested, then such Firefighter shall hn entitled to receive u contribution repund in accordance with Section 2.5-64(u). See. 2.5-67 Death Benefits for Firefighters (o) While In the Line n//}oty (\) Ifu Firefighter dies before retirement wbdc in Line mfDuty and as u result of the porbnnmanoeufthat Firefighter's duties, the surviving widow oc widower shall hnentitled Ordinance No. 2047| 10-2012 Page 83o[92 to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Firefighter's pension, based on the number of years of Credited Service that would have accrued had the Firefighter lived to the Firefighter's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (2) Each dependent child under eighteen (18) years of age of such Firefighter shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00), provided however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy- five (75) percent of the Firefighter's pension, based on the number of years of Credited Service that would have accrued had the Firefighter lived to the Firefighter's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (3) If a Firefighter dies while in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Firefighter's accrued pension projected to the Firefighter's Normal Retirement Date, but not less than two hundred fifty dollars ($250.00). (4) The survivor's monthly pension benefit for a Firefighter who dies in Line of Duty shall be calculated using a multiplier of three (3.0) percent. (b) While Not in Line of Duty. (1) Vested Firefighter. a. If a Vested Firefighter dies before retirement, while not in the Line of Duty, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Firefighter's accrued pension but not less than one hundred fifty dollars ($150.00). b. Each dependent child under eighteen (18) years of age of such Vested Firefighter shall be entitled to receive a monthly pension, the amount of which shall be one hundred dollars ($100.00); provided, however, that if no surviving widow or widower shall be entitled to receive a monthly pension pursuant to the terms of this Division, all such dependent children shall share equally a monthly pension, the amount of which shall be seventy-five (75) percent of the Firefighter's accrued pension, but not less than one hundred fifty dollars ($150.00). Ordinance No.20471-10-2012 Page 84 of 92 c. If a Vested Firefighter dies while not in Line of Duty and leaves no widow or widower or children eligible to receive a benefit hereunder, but is survived by a dependent parent or parents, such dependent parent(s) shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the Firefighter's accrued pension, but riot less than one hundred fifty dollars ($150.00). (2) Firefighter Not Vested At Time of Death. If a Firefighter was not Vested on the date of death, the surviving widow or widower shall be entitled to the return of all contributions which the Firefighter paid into the Fund during the Firefighter's life plus Regular Interest thereon (at the Regular Interest rate in effect on the date of any payment to the widow or widower). If there is not surviving widow or widower, the contributions shall be paid to the estate of the Firefighter. (c) After Retirement. (1) Upon the death of a retired Firefighter, the surviving widow or widower shall be entitled to receive a monthly pension, the amount of which shall be seventy-five (75) percent of the pension being paid to the Firefighter, provided that the Firefighter and the surviving widow or widower had been married for at least one (1) year immediately prior to the Firefighter's retirement. 'Notwithstanding the preceding sentence, a surviving widow or widower who was not married to the deceased Firefighter for at least one (1) year immediately prior to the Firefighter's retirement shall be eligible to receive a monthly pension if the Firefighter has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director, within six (6) months after the Firefighter's completion of two (2) years of marriage to the Firefighter's spouse. The reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Firefighter's election to receive a reduced monthly pension. If such an election has been made, the surviving widow or widower shall receive a monthly pension for life equal to seventy-five (75)percent of the Firefighter's reduced monthly pension. (2) Firefighters Who Are Not Married on Date of Retirement. Upon the death of a retired Firefighter who was not married at retirement, a Beneficiary designated by the Firefighter at retirement may be eligible to receive a monthly pension if the Firefighter has elected to receive a reduced monthly pension, on a form and subject to procedures developed by the Executive Director. The Firefighter's reduced monthly pension shall be actuarially determined in a manner that is actuarially neutral to the Fund, based on Actuarial Tables in effect on the date of the Firefighter's election to receive a reduced monthly pension. The Firefighter can elect for his or her designated Beneficiary to receive either one hundred (100) percent, severity-five (75) percent fifty (50) percent, or twenty-five (25) percent of the Firefighter's reduced monthly pension. If a Firefighter who was not married at retirement and who selected a designated Beneficiary pursuant to this Section later marries only the designated Beneficiary would be entitled to receive a lifetime monthly pension. Ordinance No. 20471-10-2012 Page 85 of 92 (3) Each dependent obUd under eighteen (18) years of age of such retired deceased Flrofirbhr oboJi be oohUed to receive u monthly pension, the amount of which ubo | be one hundred dollars (Sl00.00), but shall cease upon the earliest of such child's death, marriage or attainment o[age eighteen (|8) purmuun{\o the terms o[the ordinance. (d) lJ*odh »fTs&ed Dsnn/no/ed Firefighter Prior to Pension Commencing. If a |mnniouted Firefighter entitled to u pension dies before the Firefighter's pension cozucuuuocx` the Firefighter's designated Bcuufioiu,y, or if none, the Firefighter's estate aho|\ receive an amount m]uu| to the Firefighter's total cmu1dbodooa to the Fund, plus Regular Interest. If the Vested Firefighter's years of age and years and Credited Service total at least sixty-five (05) as of the date of the Firefighter's \oouioa1ioo, the Firefighter's eligible dependents shall receive the benefit specified under Section 2.5-60, based on the pension to which the Firefighter would have been euddnd as of the date of the Firefighter's death, in lieu of the pu}mco1 of contributions plus Ilcguluu Interest. If the Firefighter's years of age and service did not total at least sixty-five (65) as of the date of the Firefighter's termination, the Firefighter's eligible dependents may choose he\vveoo the reFuodmf contributions, the payment of the survivor benefit ut the date the Firefighter would have been eligible to draw the benefit, oran immediate bnoefiiatun actuarially reduced rate. Sections 2.5-68 through 2.5-225: Reserved Ordinance No. 20471-10-2012 Page 86 of 92 ARTICLE 11—RETIRED EMPLOYEES GROUP DEATH BENEFIT FUND Sec. 2.5-226- Continuation of death benefit Fund Ordinance No. 6235, as adopted by the City council on January 26, 1970, created and established a Fund designated as the "Retired Employees Group Death Benefit Fund" from which lump-sum payments are made upon the death of retired members of the employees' retirement Fund of the City of Fort Worth, Texas. That Fund is still in existence and shall continue operation as herein set forth. Sec. 2.5-227. - Appropriations to Fund The City shall continue to appropriate to the Retired Employees' Death Benefit Fund such amount or amounts as may be necessary to provide the lump-sum payments hereinafter set forth in Section 2.5-229 on all as needed basis from current revenues, and, in the event such Current revenues are insufficient, the City shall compute, ascertain and levy an ad valorem tax sufficient to raise and produce the money required to appropriate and pay any additional sums which may become due during any such year. The City shall levy a sufficient tax, when needed, to provide the revenue from which such appropriations may be made. See. 2.5-228. - Definitions With reference to the Retired Employees' Group Death Benefit Fund, the following words, terms and ph-rases shall have the meanings ascribed to them herein, except where the context clearly indicates a different meaning. The masculine pronouns wherever used herein shall include both the male and female persons. Designated beneficiaries eligible to receive the death benefit hereunder shall include any individual designated by the Member as a designated Beneficiary on a Board approved Beneficiary designated card. Filing shall mean, for purposes of determining the surviving designated Beneficiary, the date when the Beneficiary designation card is actually received by the retirement office. Retired Employees' Group Death Benefit Fund shall mean the Fund from which lump-sum payments are made upon the death of retired members of the Fund if said Member retired after January 1, 1970. Surviving spouse shall mean the widow or widower legally married to the Member at least one (1) year immediately prior to the Member's retirement from the City of Fort Worth and at the time of the Member's death. See. 2.5-229. - Entitlement to death benefit When a Member of the Fund dies subsequent to retirement from active employment with the City, the Surviving Spouse shall be entitled to receive (in addition to 'benefits provided by the 0-dinance No.20471-10-2012 Page 87 of 92 Fund a lump-sum payment of five thousand dollars ($5,000.00). If the deceased Member leaves no Surviving Spouse and has filed a valid Beneficiary designation card with the Retirement Office naming a surviving Designated Beneficiary, a lump-sum payment of five thousand dollars ($5,000.00) shall be made in full to said surviving Designated Beneficiary. Upon written request by the Surviving Spouse or surviving Designated Beneficiary after the death of the Member, the Executive Director may directly pay the death benefit, or the portion thereof to the funeral home necessary to satisfy the Member's funeral expenses. If the deceased Member leaves no Surviving Spouse or surviving Designated Beneficiary, a lump-sum payment of five thousand dollars ($5,000.00) shall be made to the estate of the deceased Member upon presentation to the executive director of one (1) of the following legal instruments: (1) letters testamentary; (2) letters of administration; (3) mumment of title; (4) affidavit of small estate; or (5) judgment declaring heirship. The lump-sum payment herein provided shall be made in lieu of any payments to which the survivor(s) or estate of the deceased Member would have been entitled under the City's group life insurance plan during the Member's period of active employment with the City. This lump-sum payment of five thousand dollars ($5,000.00) shall not be payable to those Members (1) who retired before January 1, 1970, or(2) whose coverage at the time of death was otherwise extended under the permanent and total disability feature of the City's group life insurance plan. Sec. 2.5-230. - Executive director of death benefit Fund The Executive Director of the Fund shall be charged with the duty of making the lump-sum payments herein provided for, and such payments shall be made solely from Funds appropriated by the City Council for such purpose. The Executive Director shall maintain such records as may be necessary in the administration of the Retired Employees' Group Death Benefit Fund. The Executive Director shall maintain a special accounting of the Funds heretofore and hereby appropriated, and the Executive Director shall not make any payments authorized hereunder from Funds contributed by the employees or the City under the provisions of the Fund or from Earnings on such contributions. Sec. 2.5-231. - Board of Trustees The Board of Trustees of the Fund shall act on behalf of the City Council of the City of Fort Worth as trustees of the Retired Employees' Group Death Benefit Fund under the same provisions, regulations and procedures for the investment of Funds of the Employees' Retirement Fund of the City of Fort Worth. All records and Earnings on the assets of the Retired Employees' Group Death Benefit Fund shall be maintained separate and apart from assets and Earnings of the Fund. Ordinance No. 20471-10-2012 Page 88 of 92 ARTICLE III—CITY OF FORT WORTH SUPPLEMENTAL RETIREMENT ORDINANCE See. 2.5-232. - General Provision (a) Establishment of supplemental retirement ordinance. There is hereby created and established an ordinance designated as the City of Fort Worth Supplemental Retirement Ordinance which shall provide benefits to Members of the Fund whose benefits are limited by the qualified plan limits under the Internal Revenue Code of 1986, as amended. (b) Appropriations. The City shall annually appropriate such amounts as may be necessary to provide for the payment of benefits under the supplemental retirement ordinance. Such appropriations shall continue to be made from current revenues, and, in the event such current revenues are insufficient, the City shall compute, ascertain and levy an ad valorem tax sufficient to raise and produce the money required to appropriate and pay any additional sums which may become due during any such year. The City shall levy a sufficient tax from year to year to provide the revenue from which such appropriations may be made. (c) Purpose. The purpose of this Article is to provide Members with certain benefits which, because of the qualified plan limits, are not provided to such Members under the Fund (d) Governing law. The ordinance shall be construed in accordance with and governed by the laws of the State of Texas. (e) Amounts provided by the City. Benefits under the ordinance shall constitute general obligations of the City in accordance with the terms of the ordinance. No amounts in respect of such benefits are required to be set aside or held in trust, and no recipient of any benefit hereunder shall have any right to have the benefit paid out of any particular asset of the City, except to the extent the City may establish a grantor ("rabbi") trust, which trust will not be protected from the City's creditors. Members have the status of general unsecured creditors of the City and this ordinance constitutes promise to make benefit payments as described herein. See. 2.5-233. - Definitions The following words, terms and phrases when used in this Article, as may be amended, shall have the respective meanings set forth below, unless their context clearly indicates to the contrary. The masculine pronouns, wherever used herein, shall include both male and female persons, and the singular may include the plural, and vice versa. Effective date means April 1, 1999. Ordinance means the City of Fort Worth Supplemental Retirement Ordinance, as amended from time to time. Plan year means the twelve-month period beginning on January 1 st and ending on December 31 st. Ordinance No.20471-10-2012 Page 89 of 92 Qualified plan limits means the limitation on qualified plan benefits under Code Sections 401(a)(I 7) and 415, as amended. See. 2.5-234. - Eligibility and benefits (a) Employees eligible to participate. Each employee of the City who is a Member of the Fund shall be eligible to participate in the Ordinance. Each such employee whose benefits under the Fund are reduced due to the qualified plan limits shall automatically participate in and be eligible to receive benefits under this ordinance. (b) Benefits. (1) Amount of'benefits. If the benefits payable to a Member from the Fund are limited by the Qualified Plan Limits, the amount by which such benefits are so limited shall be paid to such Member under this Ordinance. For purposes of this Ordinance, death and disability benefits under the Retirement Ordinance which are limited by the Qualified Plan Limits shall be provided hereunder. (2) Payment of'benefits. Payment of a Member's benefits calculated under Section 2.5-234(b)(1) hereof shall be made to such Member, after termination of employment with the City. Payment shall be made at the same time and in the same form as the Member's benefits under the Employees' Retirement Fund. If a Member's (or his or her Beneficiary's) death or disability benefits under the Fund are reduced by the Qualified Plan Limits, such reduced benefits shall be paid under this Ordinance at the same time, in the same form, and to the same person(s) who receive the Fund benefits. See.2-235. - Administration and miscellaneous (a) General. The Ordinance shall be administered by the Board. (b) Powers and ditties. The Board shall have such powers as may be necessary to discharge its duties hereunder, including without limitations, the complete discretion to construe and interpret the ordinance, determine eligibility to participate, compute any benefits payable, grant or deny any benefit claims, review any claim denials and to give directions to the trustee under any grantor trust referred to in Section 2.5-232(e) hereof. The Board may delegate its duties hereunder as it deems appropriate, including to any committee it may appoint or to the Executive Director, (c) Amendment, termination, etc. The City may, in its absolute discretion, from time to time, amend, suspend, or terminate in whole or in part, and if terminated reinstate, any or all of the provisions of the Ordinance. (d) Yonguarantee of employment. Nothing contained in this Ordinance shall be construed as a contract of employment between the City and any employee, or as providing a right of any employee to be continued in the employment of the City, or as a limitation of the right of the Ordiriarice No.20471-10-2012 Page 90 of 92 City to discharge any of its employees, with or without cause. (e) Nonalienation of benefits. To the extent permitted by law, benefits payable under this Ordinance shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnislunent, execution, or levy of any kind, either voluntary or involuntary. Any unauthorized attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any right to benefits payable hereunder shall be void. No part of the assets of the City shall be subject to seizure by legal process resulting from any attempt by creditors of or claimants against any Member (or Beneficiary), or any person claiming under or through the foregoing, to attach his interest under the ordinance. (f) Liability. No Member of the Board shall be liable for any act or action, whether of omission or commission, taken by any other Member, or by any officer, agent, or employee of the City or of any such body, nor, except in circumstances involving his bad faith, for anything done or omitted to be done by himself. SECTION 3 This ordinance shall be cumulative of all provisions of ordinances and of the Code of the City of Fort Worth, Texas (1986), as amended, except where the provisions of this ordinance are in direct conflict with the provisions of such ordinances and such Code, in which event conflicting provisions of such ordinances and such Code are hereby repealed. SECTION 4 It is hereby declared to be the intention of the City Council that the sections, paragraphs, sentences, clauses and phrases of this ordinance are severable, and, if any phrase, clause, sentence, paragraph or section of this ordinance shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this ordinance, since the same would have been enacted by the City Council without the incorporation in this ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. Ordinance No. 20471-10-2012 Page 91 of 92 SECTION 5 The City Council finds that all acts, conditions and things required by provisions of the Constitution of Texas and Charter and Ordinances of the City of Fort Worth precedent to and in the adoption of this Ordinance have been done, have happened and have been performed in proper and lawful time. SECTION 6 This ordinance shall be in full force and effect from and after its adoption_ AND IT IS SO ORDAINED: APPROVED AS TO FORM AND LEGALITY: B/ Laetitia Coleman Brown Senior Assistant City Attomey ADOPTED and EFFECTIVE: October 23, 2012 Ordinance No. 20471-10-2012 Page 92 of 92 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 10123/2012 - Ordinance No. 20471-10-2012 cio.,aze. mrrna 4.. n„mu .rzw,. mnn, ri¢.r,r o:�v ,r �b r:.. o:amr ­ ,..: ,?'I r­M ruio-I or mmm r�imam�„010 ffJ,0000 DATE: Tuesday, October 23, 2012 REFERENCE NO.: G-17712 LOG NAME: 12PENSION CHANGES 2012 SUBJECT: Adopt Ordinance Repealing Article VI, "Retirement” of Chapter 2, "Administration" of the Code of Fort Worth and Creating a New Chapter 2.5 "Retirement" to Govern the City of Fort Worth Retirement System and Modify the Pension Benefits for Police Officers and General Employees (ALL COUNCIL DISTRICTS) RECOMMENDATION: It is recommended that the City Council adopt the attached ordinance repealing Article VI, "Retirement" of Chapter 2, "Administration" of the Code of Fort Worth and creating a new Chapter 2.5 "Retirement" to govern the City of Fort Worth Retirement System and modify the pension benefits for police officers and general employees. DISCUSSION: In 1945 the City of Fort Worth established the Employee's Retirement Fund of the City of Fort Worth (Fund)which is a tax-qualified government pension plan (Plan). The City picks-up and pays member contributions on a pre-tax basis for the employee. Since 2007, the Plan has been governed by 62431 of the Texas Revised Civil Statutes. The statute permits both the Retirement Fund Board and the City Council to make rules governing the Plan. The Plan is also subject to Article 16, Section 66 of the Texas Constitution. The City and the Fort Worth Police Officers Association entered into a Meet and Confer Agreement in 2008. The current agreement allows the City to make changes to the Plan. The City and the Fort Worth Professional Fire Fighters Association entered into a Collective Bargaining Agreement in 2010. The Collective Bargaining Agreement prohibits the City from making any changes to the Plan. The Cast-of-Living Adjustment(COLA) In 1999, the City adopted Ordinance Number 13842, effective January 1, 2000, giving all members of the Plan a guaranteed two percent simple COLA during their retirement. In 2007, the City adopted an ordinance providing for a compounded ad hoc COLA for all non-vested members and all future employees that would be given based on the amortization period of the Fund. (Ordinance Number 17839-10-2007). Vested employees were given the option of choosing between the two percent COLA and the ad hoc COLA. The ad hoc COLA would be given as follows: • Four percent if the amortization period of the Fund is 18 years or less; • Three percent if the amortization period of the Fund is between 18.1 years —24.0 years; • Two percent if the amortization period of the Fund is between 24.1 years— 28 years; • No COLA if the amortization period is greater than 28.1 years; The purpose of the ad-hoc COLA was to allow members of the Fund to share in the risks and benefits of the investment results of the Fund. However, history has shown that the ad hoc COLAs were triggered by changes to the Plan and increases in contributions rather than investment returns. The Fund's actuary projected in 2012 that another ad hoc COLA would not be awarded for twenty-one years if no changes are Logname: 12PENSION CHANGES 2012 Page I of 4 made and all current assumptions are met. This would result ina significant challenge for current retirees who have nO inflation protection enintended. Benefit Reductions In 2011, the City implemented benefit reductions for general employees hired on or after July 1, 2011 (Ordinance Number 10508'O3-2011). Those reductions included a reduction in the normal retirement multiplier(2.5 percanU, a reduction in the benefit calculation from the highest three years of earnings to highest five years of earnings and the elimination of all COLAs, among others. Summa[y of City Manager's Recommendation In an effort to resolve the structural dilemma of the ad hoc COLA, the City Manager recommended on May 15. 2012 that the City Council adopt ordinance amendments that would assign a two percent simple guaranteed annual adjustment for future service for Pn|ima Officers hired prior to January 1. 2013 and for General Employees hired prior to July 1, 2011. Police Officers and General Employees who were subject to the ad hoc COLA would be given the opportunity to select the guaranteed two percent simple annual adjustment for past years of service. Retirees and beneficiaries subject to the ad hoc COLA would be given the opportunity to select the two percent simple guaranteed annual adjustment for the future, based on their starting pension amounts with the first payment occurring in January 2014. The City Manager is recommending to reduce benefits and eliminate a COLA for police officers hired on or after January 1. 2013. The City Manager's original recommendation also included a reduction in benefits for future service accruals for existing police officers and general employees beginning July 1, 2013. The recommendation by the City Manager Would also freeze the cash balance account for general employees hired on or after July 1' 2011 and reduce the multiplier for death benefits for current police officers and general employees under certain circumstances. The City Manager now recommends postponement of the effective date for changes for current employees until October 1, 2013, in order to allow adequate time for financial system modifications by both the City and the Fund. On July 10. 2012' the City Council adopted Resolutions 4102-07-2012 and 4103-07-2012. notifying the Board of Trustees of the Fund that the City Council intended to consider and vote on amendments to the Retirement Ordinance for Police Officers and General Employees to reduce non-accrued benefits provided by the retirement system. Recommended Ordinance Amendments After months of discussion with the Board and Staff ofthe Fund. the Police Officers Association, employees and retirees, the City Manager is recommending the following amendments to the ordinance governing the City's Retirement System: 1. Add definitions for Group I Members, Group 11 Members, Group III Members, Group IV Members, Cash Balance Account, and General Employee. 3' For Police Officers Hired Prior tm January 1' 2013 (Referred tpmo Group III yMmnnbars): a Pension Benefits will ba subject toa two percent simple cost of living adjustment for all credited service earned or purchased on or after October 1, 2013, Group III Members who were subject to the ad- hoc cost of living adjustment will be given the option of selecting the two percent simple cost of living adjustment for credited service earned or purchased prior to October 1, 2013; b. Compensation base for credited service earned or purchased on or after October 1, 2013 will be Logpunuo: l2PBNSION CHANGES 20I2 Page 2of4 High 5 and will not include overtime; however, City contributions will continue to be made on overtime for Group III Members; c. Multiplier for normal retirement and vested termination benefit will be 2.5 percent for credited service earned or purchased on or after October 1, 2013; d. Multiplier for credited service earned or purchased on or after October 1, 2013 will be 2.25 percent for vested termination pension drawn before normal retirement date (early retirement), benefits for death not in the line of duty for vested employees, and disability not in the line of duty for vested employees; and e. Multiplier and compensation base for vested termination pension will be the multiplier and compensation base in effect on the date the credited service was earned or purchased. 3. For General Employees Hired Prior to July 1, 2011 (Referred to as Group I Members): a. Pension Benefits will be subject to a two percent simple cost of living adjustment for all credited service earned or purchased on or after October 1, 2013. Group I Members who were subject to the ad- hoc cost of living adjustment will be given the option of selecting the two percent simple cost of living adjustment for credited service earned or purchased prior to October 1, 2013; b. Compensation base for credited service earned or purchased on or after October 1, 2013 will be High 5 and does not include overtime; however, City contributions will continue to be made on overtime for Group I Members; c. Multiplier for normal retirement and vested termination retirement is 2.5 percent for credited service earned or purchased on or after October 1, 2013; d. Multiplier for credited service earned or purchased on or after October 1, 2013 is 2.25 percent for vested termination benefits drawn before normal retirement date (early retirement), benefits for death not in the line of duty for vested employees, and disability not in the line of duty for vested employees; and e. Multiplier and compensation base for vested termination benefits will be the multiplier and compensation base in effect on the date the credited service was earned or purchased. 4. For Police Officers Hired on or after January 1, 2013 (Referred to as Group IV Members): a. No Cost of Living Adjustment; b. Compensation base is High 5 and does not include overtime, vacation sell-back, or payments from the City's Wellness Program; c. Multiplier for normal retirement, death in the line of duty, and vested termination retirement is 2.5 percent; d. Multiplier is 2.25 percent for vested termination benefits drawn before normal retirement date (early retirement), benefits for death not in the line of duty for vested employees, disability in the line of duty, and disability not in the line of duty for vested employees; e. Multiplier and compensation base for vested termination benefits will be the multiplier and compensation base in effect on the date the credited service was earned or purchased; and f. Actuarially neutral survivor benefit. 5. For General Employees Hired on or After July 1, 2011 (Referred to as Group II Members): Logname: 12PENSION CHANGES 2012 Page 3 of 4 a. Compensation bmsedoe8notino|udeoverhme. vanabonsell-bGok. orpoymentsfnzroVleCKy3 Wellness Program; b. 2.5 percent multiplier for death in the line of duty; c 2.25 percent multiplier for death not in the line nfduh/� d. Overtime cash balance account frozen as0f October 1` 2013; and e. Multiplier and compensation base for vested termination pension will be the multiplier and compensation base in effect on the date the credited service was earned or purchased. 6- For Members and Beneficiaries Receiving Benefits from the Fund: All members and beneficiaries currently receiving benefits from the Fund who are under the ad-hoc cost Of living adjustment will be allowed ho choose the two percent simple cost of living adjustment for future years. A member or beneficiary who chooses the two percent simple cost of living adjustment will receive an annual cost of living adjustment of two percent of their base salary at retirement, which will be added tn their current retirement, FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that the proposed changes are designed hoimprove the long term funded status of the Retirement Fund, which may have a positive impact on City funds in the future. CENTERS:FUND TO Fund/Account/Centers FROM Fund/Account/Centers Submitted for City Manager's Office by: SusanAlanio (8188) Originating Department Head: SanahFuUenwider (7606) Additional Information Contact: LaehdaBrown (5039)