HomeMy WebLinkAbout2642 A?T O~DINArlC.~ amenamng Sections 2 and 1~4 of Ordinanc
No. 1572., known as :'Pension and Retirement Ordinance' .
THE CiTY OF BREHERTOt~ DOitS ORDAIif:
Sectio;a i. That Section 2 of Ordinance Ho. 1572 i)e a-~c] th~:
same hereby is amended to rea~ as follows:
~ Section 2. Unless a different meanin~ is ol~.n-
ly required by the context~ the following words and
phrases as hereinafter used in this ordinance shall
have the following meanings;
'.~etm Svst shall mean ~-~remerton
(a) '~ ' rement ~ em~:
ployees~ retirement syste~, provided for in Oection
of this ordinance.
(b) uEmv!oyee~' shall mean any re~.~;u!arly ~
officer or rezuiarly aeeointed erra~loyee~ ~ oP_ the Cit~,~:..
Bremerton serving under Civil Service appointment and
other officers or employees of the City eli~-ible to
membershio in the retirement system 'sursuant to la~?.
(c) Member~: shall mean any person included
the membership of the retirement system as ~rovided
Section 4 of this ordinance.
(d) ~'City: shall mean the City of ~;~remerton.
(e) ;Board;~ shall mean :~3oard of Administration'
as provided in Section 9 of this ordinance.
(f) ~Retirement fundu shall mean ~employees' re--
tirement fund~ as created and established in Section
of this ordinance.
(g) (as amended by Ord. 1(~5) "City Service?:
shall mean service rendered to tne~ City~ for com~en,~as
tion~ and for the purpose of this ordinance~ a membe~
shall be considered as being in city service only
he is receiving ~ ¥ ~ ~ ' uc~
com~en,.~a0mon for s k service~and
makes contributions coverinz such period as 3rovidod
in Section 4 hereof
(h) ;Prior Service'~ shall mean the service of
member for compensation rendered to the city prior to
January 1~ lq4q and shall also include military or
naval service of a member to the extent soecified
Section 6 of this ordinance.
(i) ~Continuous service:: shall mean uninterrupteO
tn~ discontinuance o
~m'oloyment~., , by theu~'~y~ exceot -' ~
city service of a member caused by iay-off~ leave of
absence~ suspension~ or dismissa!~ followed by re-eh.
trance into city service within one year, shall ~)o[:
count as a break in the continuity of service ~rovider~
t~at for the purpos o~ esta~Imsnmn~·
retirement system continuous s~vmc~: .... ~ 11 mean s;ix
(d) months~ service in any one year.
ability a]]o,?aqce~ o~ r-~rv~ ot~:~-~ :~-~
, . ............ ., ,,,,~ bonefi'~; ]?rovi_,,=~ __
this ordinance.
(7/:) (',~ a,~e~':,~:,f~ :,~ n~,-~ .... ~.[~)
sha.~ mean 27]e compensation earnab~e in ¢~sh, olus Zhe
monetary vaZue, as cte~e~mine~ x? ~he Boa~ oF Adminis ....
t~ion, of &n~ aZZowanee in lieu
(Z) (As amended b~ O~d. 2~35) 'eom.~>ensa~ion
earnable' by a member shall mean t]'~o avez~a~o con?ensu -
tion a;s dot ..... ,-~ ..... d b7 ' ' ' -
-t ,--, ~'"" ~"" ~ Oi~ ' _~w ,,,1~., ~1'1(]'. =u..l,] ~'
rate of pay.
(m) ~Final comoensation~' shall mean the averaze annual com--
~ensation earnabte ~y a member durinz ~,'.e five (,) years
iately preceding his retirement.
(n) ~Normal contributionsx shall mean contributions at t~e
rate provided for in subdivision (a) of Section ~ of this ordinance.
(o) '~Additional contributions': shall mean the contributioas
provided for in subdivision (d) of Section 5 of this ordinance.
(p) :Regular_, interest'~ unless chano~ed~, by the :-:,o~tr~.~ ~ ~ -~ cf .Adrni~-
istration as provided in Section 7 of this ordinance ahall
such rate of interest as may~ be adopted by, the ~:~o~rm .... from time to
time.
(q) :~Accu~ulated normal contribution': shall mean t?:e sus of
all normal contributions~ deducted from the compensation of a
standing to the credit ~ .... ~ ,
~.~ ~ individual account~ to~:etln~r with
regular interest taureon.
(r) ~:Accumulated additional contribution: small meon th~ sun
of all additiomal contributioas, ~.~muc~ea from. the compen~setioa o'r
a member~ standing to t~.. credit o'~ :~is ~ ~'~ ~
..... n~! w.~_dual accour~t tc
with regular interest t ~r~on.
(s) :Accumulated cnntributions shall mean accumul~ t,-d r t~rma]
contributions,~slus accumulated n ~.l'~tion~l~_~ ..~ contribution~.
(t) ~'Pensionx shall mean payments derived from contr~but .on?~
made by the City as '~srovi~ ~ ....
~ aaa .~.or in sections I~ and lo o~. th.i~ ord~.han~
(u) 'Annuity shall meat~ _~. ..... ~o~ derived from contributLons
' ' ' ~' ~,~-~ nn~~ 1'] of this
made ~ a men, bar ~ 0rovzded in eeoumons
(v) -2etirement allowance'~~--~:]~ .... 1 ~.ear_ ~-~=~ ~u n'~:ns:~.or~ ~l~;n
a rrQ ~i t)/.
and -~ ' ' '" ' D
enu~ns t,~it:~ ecembeP 31 next follo:,,~inj..
(x) ~:Creditable service~ o~,azl mean such service a:3 is
ed by the record of normal. ~ontrzbuo -,~ rec
~ .LO ..... eived from t]~
through__ wit~..~dra,.~al oF ~ccus. ulate~a ~:ior'mei cont"~'-~utions~l_, a}
!n a~ 12
:~.~ctlon of u~..~lS ordinance.
Section 2. Section 1/~ of Ordinance ' o. 15~2 be aN& tho saue
is amended to .... s
~a.~ as ~.ollo.~:
(a) A rxep, ber~ uoon retirement ~Por;} service .......... 11 Pc c{ive
retirement allo:~ance~u,u-" '~ject to un~ ~.,zev=sions of .... }aPa,::r:.ioh
this section~ which shall consist
(!) An annuity which shall be theo,c ~ ~-~u~P!~l'' '~ ".ou~ v~p% ok" i-ii'3
~ccumulated cent ribut'~ ~ the .
~ono at time ef h'~ ·
~.3. o Pet 1Pome~t
(2) A eension consist{ns oF
.... :-,oo,-. of the final f,{.v} year
average compensation for each year of credited current service.
If retirement is before a~eo 62~ the .,,~-qa2~"=_,,~ shall be actuarially re~.
duced in accordance with the fol!owim;:: tabulation:
Age at Retirement llale u emale
4 5 .2317~ .264 1
46 .24 ~{ .280
47 .263 .297
48 .281 .315
(2)
4o .301 335
50 .322 .357
51 .345 .350
52 .371 .405
n~ ,13~
53 3~ .
54 .429 .46~
55 .463 .,~!95
56 .SO0 .53Z
57 54
~ F'~
58 Fo .612
· ~ ;~ 7
59 .639 .659
· ~0 .69~, .
61 · 761 .76o
~2 and older 833 .S3~
(3) Pot an7 member having credit for orior service
an additional pension~ ~ourchased by the conor~ution:~
the City equal to one and one-,half per cent (1-~l/2~l)of
the final five year average compensation For each
of credited prior service. If rstirement is befor~r
the one and one-~half per cent (1 ~4/27~) shall be reduce~
in accordance with the followin~ table~
Age at
let irement ~]ale Vema 1 t~
45 .4157 .4755
~17 .474 · 53
' 49 541
50 · 580 .643
52 .~6~ .730
53 .71~ .777
4 773 o ,~
55 .~34 .892
56 .901 .95(
. w 7 o t. o 2 (
.0 mo 1.
59 1.15i 1.13~
50 1. 254 ~.
{; ~ 1.370 ~ · 3:3 '.',
2 aha older 1.500 1.535
(b) (As amended by Ord. 24.35) If t~e retirePent
allowance of t'==
- .............. as ~rovide;'~ in =' 'ub.~_s sectior,~ , sx
elusive of any annuitx~ ~ ...... ' b~ hi '
~UP~.sJ.,:,o~, s accumulatoo o
ditionaq contributions, ~'s in excess o[' 'U'.~o.-t~"~C~
hi~ final ~a', ~. +:-'~ ..... - sion e ,-;.,~ member~ r:.urc~.asa i
by the contributio!s of oho
'- ,~t't[~::, shall Oe reduced to
such an amount as sh~ll make the member's retirement
allowance~ exclusive of any annuity ~}urchased by lis
accumu!at~d~, additional contribu~!ono~' '~, ~.~u.~.t-.- e to two.-.ti':irds
of his final salary,, and the ~o~ ,>
~ .... u_..r~.,=l eiuiv~ant-of such
r.~L~ucu~.oh shall remamn in the_ =~oirement ~Lun~ to e',-e~ cre-
dit of the C:i~-~ ~n~ ~ '' ..~. '
uo. ~,..~.~, }2rovided T~:at shoul~ a r~tirin~
eraolovee so c~:oose, he may waive such f~aro~ of the pensio~
ourcnasea by ~con' '-ributionso of the C~tF'- as may be ...... ..is,,
.~P~t~P to et a contincency not a -oo, r~ of this
ordmnanc= such waiwsr snell continue~nnsil'- set ass. de'
a reouast in ,¢ritin~:
uO the retired ,"~='~ ,~
.~_~,o~r to the Board
of Amm]_nzstration, and the amounts waived
~nall be final
and not o ..
oub2ect to later recove~'~ by the retired member.
(3)
(c) Any member ~ho enters the retirement syste:~.:~
Seer iD 1944 or who enters after ~nat date and .,tho is
ziven the credit for prior service~ and ~,d':o is retired
by reason of attaining the age of seventy (70) years~
shall receive such additional ~
~en~ion on account of D~ior
service, purchased by the contributions of the City~ as
~.~ill make his total retirement allowance not less tha~
Four Hundred T~renty Dollars ('~20,~,. .00) per year.
(d) Any member ~ho~ at the time of his retiremen4,
has at least ten (1~) years of cream~as~, servmce~ as
defined in this ordinance~ and ~Pno has attained the a~e
of sixty.-five (~5) years or over~ shall receive such add-,
itional pension~ purchased by the contributions of ~,~
City~ as will make his total retirenent allot~ance not
less than Four Hundred Twenty Dollars (~t420.00) per year.
(e) (As added by Ord. 260~-~) That all or~rt ~ of
interest earned on pension reserves that exceeds the ac ~
tuarial resuirements ~y be distributed by t].~ Board
Administration, oremerton ~.~mployees ~ irement ~ystem,
to eligible retirees on a prorated basis. Any such dis~-
tribution may take effect as of July 1~ l:~o.~
(f) Effective as of date of this amendment all
basic 'oensions of presently retired members or their
beneficiaries shall be increased 10~ over that amou~t
in effect ink,mediately nrior to this amendm, ent~ unaffected
by any distribution of interest earned on oension reserve~
as provided in Section (e) above.
(g) Every employee who leaves city service after
fifteen (15) or more years service may leave bis accu'~ulated
contributions in ~
~,~ system and receive a retirement
ance at or after a~e sixty-two (62)~ as provided under
Section 14 ~ ' ~ e. h~reznaoov,
PASSED on second ~ead~n~ by ghe ~Sg~ ~¢une__~ o~ ~he
Bremerton, signed by the ~ayor and attest~d~c~ by theAu~;us~ity Clerklg~
authentication of such passa~ this ~day~ of
E"2'~ H. T. ~IcGOW)Z~ CITY CLERK
(~'1)