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HomeMy WebLinkAboutOrdinance 11412ORDINANCE NO. / f T AN ORDINANCE AMENDING ORDINANCES NOS. 2999, 4060, 4250, 4304, 435.4, 4430, 4860, 4861, 4873, 4875, 5226, 5259, 6393, 6556, 7056, 7317, 7875, 8674, 8843, 9247, 9532, 10081, 10291, 10369, 10385, 10564, 10607, 10679, 11126, 11238, AND 11401 CODIFIED AS CHAPTER 2, ARTICLE VI, DIVISION 1, ENTITLED "EMPLOYEES' RETIREMENT FUND," OF THE CODE OF THE CITY OF FORT WORTH (1986), AS AMENDED, WHICH ORDINANCES ESTABLISH AND PROVIDE FORA RETIREMENT SYSTEM, RETIREMENT PLAN AND BENEFITS THEREUNDER FOR EMPLOYEES OF THE CITY OF FORT WORTH; DEFINING RETIREMENT DATES AND VESTED TERMINATION PENSIONS; PROVIDING FOR A MULTIPLIER CHANGE IN THE AMOUNTS OF RETIREMENT, DISABILITY, AND VESTED RETIREMENT PENSIONS; CONTINUING COST OF LIVING ADJUSTMENTS; MAKING THIS ORDINANCE CUMULATIVE; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: That Ordinance No. 2999, passed and adopted by the City Council of the City of Fort Worth on the 24th day of September A.D. 1952, as amended by Ordinance Nos. 4060, 4250, 4304, 4354, 4430, 4860, 4861, 4873, 4875, 5226, 5259, 6393, 6556, 7056, 7317, 7875, 8674, 8843, 9247, 9532, 10081, 10291, 10369, 10385, 10564, 10607, 10679, 11126, 11238, and 11401 be and the same is hereby amended as follows SECTION 1. That Chapter 2, Article VI, Division "Definitions," of the Code of the City of Foy amended, be and is hereby further amended following definitions in the appropriate alphabetizing all definitions in said section, 1, Section 2-201 .t Worth (1986) , as by inserting the places and re- to wit: "'Special Retirement Date' shall have the meaning set forth in Sec. 2-206." "'Vested Termination Date' shall have the meaning set forth in Sec. 2-206." "'Vested Termination Pension' shall have the meaning set forth in Sec. 2-211.B." SECTION 2. That Chapter 2, Article VI, Division 1, Section 2-206 "Normal Retirement Date," of the Code of the City of Fort Worth (1986), as amended, be and is hereby further amended by substituting the following language in lieu thereof, to wit: "Section 2-206. Retirement Date. A. Normal Retirement Date. "A member shall be eligible for retirement on or after the member's Normal Retirement Date which shall be the last day of the month in which the earliest of the following occurs: 1. the member's years of age and years of Credited Service total eighty (80); or 2. the later of (i) the date on which the member reaches age sixty-five (65) or (ii) the fifth (5th) anniversary of the date the member joined the Fund. B. Special Retirement Date. A Police Officer member shall be eligible for retirement on or after such member's Special Retirement Date which shall be the last day of the month in which such member's years of Credited Service total twenty-five (25); provided the Police Officer members approve the increase in their contribution by group election pursuant to Sec. 2-203. C. Vested Retirement Date. A Vested member who is voluntarily or involuntarily separated from the service of the City shall be eligible -2- for retirement on or after such member's Vested Termination Date which shall be the last day of the month in which the member reaches age fifty (50)." SECTION 3. That Chapter 2, Article VI, Division 1, Section 2-208 "Retirement Pension," Paragraphs A and B, of the Code of the City of Fort Worth (1986), as amended, be and is hereby further amended by substituting the following language in lieu thereof, to wit: "A. Commencement of Retirement Pensions and Adjustment to Prior Pensions. 1. Pensions Commencing Ugon Normal Retirement Date. A Vested member who retires on or after the member's Normal Retirement Date and requests commencement of the member's pension, or a member who terminates employment prior to Normal Retirement Date and who waits until such Normal Retirement Date to apply for a pension, shall receive an annual life pension, the amount of which shall be two and seventy one-hundredths percent (2.70) of the member's Compensation Base multiplied by the member's total years of Credited Service to date of actual retirement, payable monthly on the first day of each month commencing with the month following approval of the member's pension by the Board. 2. Pensions Commencing Upon Special Retirement Date. A Vested Police Officer member who retires upon or after the member's Special Retirement Date and requests commencement of the member's pension shall receive an annual life pension, the amount of which shall be two and sixty-three one-hundredths percent (2.638) of the member's Compensation Base multiplied by the member's total years of Credited Service to date of actual retirement, payable monthly on the first day of each month commencing with the month following approval of the member's pension by the Board. -3- 3. Pension Commencing Prior to October 1 1993. Effective October 1, 1993, each member previously receiving pension benefits hereunder .shall have the member's calculation for Base Pension benefits adjusted to two and seventy one-hundredths percent (2.708) of the member's Compensation Base multiplied by the member's total years of Credited Service to date of actual retirement. All prior cost of living increases from the date the member's pension benefits commenced shall be added to the new Base Pension to determine total benefits to be paid. B. Cost of Living Adjustment Annually, effective January 1, 1994, and on the first day of each January thereafter, a cost of living adjustment shall be made on all Base Pensions of all members of the Fund who have retired (including disability retirement), or to their survivors, by adjusting the amount of the actual pension up or down by the amount of the percentage change in the Price Index over the previous year, or by two percent (2$), whichever is smaller; provided, that in no event shall any retired member's pension or survivor's benefits be reduced below the Base Pension. 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 30th of the prior year." SECTION 4. That Chapter 2, Article VI, Division 1, Section 2-209.D "Disability in Line of Duty," of the Code of the City of Fort Worth 4 (1986), as amended, be and is hereby further amended by substituting the following language in lieu thereof, to wit: "D. .Disability in Line of Duty. 1. If a member becomes disabled as above defined while in the line of duty, the member shall receive an annual life pension, the amount of which shall be the specified percentage of the member's Compensation Base multiplied by the member's total years of Credited Service which would have accrued if the member had worked to the member's Normal Retirement Date, but not less than Two Hundred -4- Fifty Dollars ($250.00) per month. For purposes of the preceding sentence, the specified percentage of the member's Compensation Base shall be two and sixty-three one-hundredths percent (2.630 , unless the member is already eligible to retire on or after the member's Normal Retirement Date, in which case the specified percentage shall be two and seventy one-hundredths percent (2.700 . 2. As used in this Sec. 2-209.D and Sec 2-209.E below, "line of duty" means in the course of the operations usual to a member's employment, including all operations necessary, incident, or appurtenant thereto or connected therewith, whether such operations are conducted at the usual place of employment or elsewhere." SECTION 5. That Chapter 2, Article VI, Division 1, Section 2-209.E "Disability Not in Line of Duty," of the Code of the City of Fort Worth (1986), as amended, be and is hereby further amended by substituting the following language in lieu thereof, to wit: "E. Disability Not in Line of Duty. If a Vested member becomes disabled as above defined while not in line of duty, the member shall receive an annual life pension, the amount of which shall be the specified percentage of the member's Compensation Base multiplied by the member's total years of Credited Service to date of actual retirement. For purposes of the preceding sentence, the specified percentage of the member's Compensation Base shall be two and sixty-three one-hundredths percent (2.630 , unless the member is already eligible to retire on or after the member's Normal Retirement Date, in which case the specified / percentage shall be two and seventy one-hundredths percent (2.700 ." SECTION 6. That Chapter 2, Article VI, Division 1, Section 2-211 "Termination Benefits and Vesting," of the Code of the City of Fort Worth (1986), as amended, be and is hereby further amended, by substituting the following language in lieu thereof, to wit: -5- "A. Contribution Refund Prior to Vesting. Any member who is voluntarily or involuntarily separated from the service of the City before the member is Vested shall be entitled to receive the amount of the 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 member from the Fund. B. Vested Termination Pension. 1. A Vested 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 on the date when the member would have otherwise attained Normal Retirement Date had the member remained employed by the City, or (ii) in a reduced amount commencing on or after age fifty ( 50) . 2. A Vested Termination Pension shall be an annual life pension, the amount of which °shall be the specified percentage of the member's Compensation Base multiplied by the 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 member's Compensation Base shall be two and sixty-three one-hundredths percent (2.63$), unless the member is already eligible to retire on or after the member's Normal Retirement Date, in which ease the specified percentage shall be two and seventy one-hundredths percent (2.700 . 3. The amount of reduction for early commencement of a Vested Termination Pension prior to the member's Normal Retirement Date shall be five-twelfths percent (5/120 for each month by which commencement of the pension antedates the member's Normal Retirement Date had the member remained employed by the City. C. Contribution Refund After Vesting in Lieu of Vested Termination Pension. Any Vested member who is voluntarily or involuntarily separated from the service of the City may elect to receive a refund of the 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 member from the Fund, either at the date of -6- such separation or at any time thereafter prior to commencement of retirement income, but by so doing, the member shall forfeit all rights under the Fund and thereafter be entitled to no further benefits hereunder. " SECTION 7. That 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 8. If any provision, section, part, subsection, sentence, clause, phrase or paragraph of this Ordinance shall 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 Council 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 9. 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. -7- SECTION 10. This Ordinance shall be in full force and effect from and after October 1, 1993 and it is so ordained. APPROVED AS TO FORM AND LEGALITY: ,~y2, Cit Attorney v_ _ Date: ~U -,S -' 9'3 ADOPTED: /(~ -s-'~J~ EFFECTIVE : / D ~ `"~ f .8.