HomeMy WebLinkAboutOrdinance 5030 JJ OFFICIAL RECORD
ORDINANCE NO. V� CITY SECRETARY
FT. WORTH, .
AN ORDINANCE AMENDING ORDINANCES NOS , 2999, 4060,
4250, 4304, 4354, 4430, AND AMENDMENTS THERETO,
AND ORDINANCE NO. 4875, WHICH ORDINANCES ESTABLISH
AND PROVIDE FOR A RETIREMENT PLAN AND BENEFITS
THEREUNDER FOR CERTAIN OFFICIALS AND EMPLOYEES OF
THE CITY OF FORT WORTH; PROVIDING FOR COMMENCEMENT
OF PENSION ON OR AFTER NORMAL RETIREMENT DATE AND
AT EARLY RETIREMENT DATE; PROVIDING A SEVERABILITY
CLAUSE; MAKING THIS ORDINANCE CUMULATIVE; AND PRO-
VIDING AN EFFECTIVE DATE. .
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That Section 4 of Ordinance No. 4875, which section amended
Section 9 of Ordinance No. 2999 and was adopted by the City Council
of the City of Fort Worth on the 1st day of April, 1963, be and the
same is hereby amended, and, after being so amended, same shall be
and read as follows:
RETIREMENT PENSIONS
1. Pension Commencing on or after Normal Retirement
Date
A member who retires on or after his normal re-
tirement date, or who retires early and requests
commencement of his pension at normal retirement
date, shall receive an annual life pension, the
amount of which shall be one and two-thirds per
cent (1-2/3°x) of his compensation base multi-
plied by his total credited service to date of
actual retirement, payable on the first day of
each month commencing with the month following
the month during which the member retires.
2. Pension Commencing at Early Retirement Date
A member who retires early in accordance with
the provisions of section 7 and who elects to
receive retirement income commencing prior to
his normal retirement date shall receive a month-
ly life pension, the amount of which shall be
one and two-thirds per cent (1-2/3%) of his
compensation base multiplied by his total
credited service to date of early retirement,
reduced by five-twelfths per cent (5/12%) for
each month by which commencement of the pen-
sion antedates the earlier of member's reach-
ing age sixty (60) or completing thirty-five
(35) years of credited service. Such pension
shall be payable on the first day of each
month commencing with the month following
the month during which the member retires.
SECTION 2.
If any provision, section, part, subsection, sentence,
clause, phrase or paragraph of this ordinance be declared invalid
or unconstitutional, the same shall not affect any other portion
or provision hereof, and all other provisions shall remain valid
and unaffected by any invalid portion, if any, and the City Coun-
cil now says that if it had known at the time of the passage of
this ordinance that any portion of said ordinance was invalid, it
would not have adopted such invalid part.
SECTION 3 .
The provisions of this ordinance shall be cumulative of
and in addition to all other ordinances of the City of Fort Worth
relating to pensions, which ordinances are hereby preserved and
continued in force and effect, provided, however, that in the event
of any conflict, the provisions of this ordinance shall control.
SECTION 4.
This ordinance shall be in full force and effect from and
after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY:
city Attorney