HomeMy WebLinkAbout1975 Ordinance No. 003•
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INTRODUC ED AS A BILL BY COUNCILMAN SOVERN.
BY AUTHORITY
ORDINANCE NO. 3 , SERIES OF 1975
AN ORDIN ANCE AMENDING SECTION 9, CHAPTER 1, TITLE II OF THE
1969 E.M.C ., CREATING A SPECIAL FUND FOR FIREFIGHTERS' PRE-
RETIREMENT BENEFIT AND ADDING SECTION 10, CHAPTER 1, TITLE II
PROVIDING FOR A SPECIAL FUND FOR THE VOLUNTEER FIREFIGHTERS'
PENSION FUND.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ENGLEW OOD, COLORADO, as follows:
Section 1.
That Section 9, Chapter 1, Title II is hereby
amended to read as follows:
2-1-9 FIREMEN'S ACCUMULATED CONTRIBUTIONS-REPAYMENTf.IN-
JURY LEAVE AND DISABILITY PRE-RETIREMENT BENE·IT;
SPECIAL FUND CREATED
(a) Every paid member of the Englewood Fire De-
partment who shall resian or be discharged
from the Department prior to becoming eli-
gible for any retirement, disability or
other benefits as provided by Colorado Re-
vised Statutes, 1963, Chapter 139, Article
SO, as amended, shall be entitled to a re-
fund of his accumulated contributions to
the City Firemen's Pension Fund. The term
"accumulated contributions" shall mean the
sum of said firemen's contributions to the
City's Firemen's Pension Fund, together with
interest, if any, thereon, as shall be deter-
mined by the Board of Trustees of said fund.
(b) There is hereby created a special fund to be
known as the "Firefighters' Benefit Fund" for
the purpose of refunding accumulated contri-
butions to those firefiahters coming within
the provisions of this section, and to pro-
vide those funds necessary to pay the bene-
fits accruing under S-4-12(c) (Permanent
Disability-Firefighters' Pre-retirement Bene-
fit) of this Code.
(c) THE CITY SHALL MAKE CONTRIBUTIONS_TO SAID
"FIREFIGHTERS'BENEFIT FUND" AT A RATE TO BE
DETERMINED ANNUALLY IN THE FOLLOWING MANNER:
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AT LEAST EVERY THREE YEARS, THE CITY OF ENGLE-
WOOD SHALL HAVE AN ACTUARIAL STUDY DONE ON THE
FIRE PENSION FUNDS. THE "NORMAL COST" OF THE
BENEFITS AFFORDED UNDER BOTH THE STATUTORY PEN-
SION LAW AND LOCAL PENSION ORDINANCES WILL BE
CONTRIBUTED ANNUALLY INTO THE TWO PENSION FUNDS.
THE CITY'S CONTRIBUTION INTO THE FIREFIGHTERS'
BENEFIT FUND WILL BE A FIGURE DERIVED FROM
TAKING THE NORMAL COST PERCENTAGE DERIVED IN
THE ACTUARIAL STUDY AND SUBTRACTING CONTRIBU-
TIONS MADE BY THE EMPLOYEE, CITY AND STATE TO
THE STATUTORY PENSION FUND. THE RESULTANT PER-
CENTAGE CALCULATED ANNUALLY WILL BE PAID FROM
GENERAL REVENUES OF THE CITY INTO THE FIRE-
FIGHTERS' BENEFIT FUND.
(d) In addition to the powers and obligations im-
posed upon the Board of Trustees of the Engle-
wood Fire Pension Board by Article SO, Chapter
139, Colorado Revised Statutes, 1963, as amend-
ed, said Board shall have all powers necessary
to supervise and administer the terms of this
section. In addition theret~, said Board shall
have the power from time to time, and as the
need may arise, to transfer any surplus moneys
resulting in said Firefighters' Benefit Fund to
the Firemen's Pension Fund of the City.
2-1-10 VOLUNTEER FIREFIGHTERS' PENSION FUND -SPECIAL FUND
CREATED -SOURCE OF coNTRISOTloNS
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(a) THERE IS HEREBY CREATED A SPECIAL FUND TO BE
KNOWN AS THE "VOLUNTEER FIREFIGHTERS' PENSION
FUND" FOR THE PURPOSE OF PAYING STATUTORY BENE-
FITS TO VOLUNTEER FIREFIGHTERS UNDER CONDITIONS
AS PROVIDED BY COLORADO REVISED STATUTES, 1963,
CHAPTER 139, ARTICLE SO, AS AMENDED.
(b) BENEFITS FOR ALL VOLUNTEER FIREMEN RETIRED BEFORE
DECEMBER 31, 1974, SHALL BE EXPENDED FROM FUNDS
RECEIVED FROM THE STATE OF COLORADO IN AN ANNUAL
ALLOTMENT PROVIDED IN COLORADO REVISED STATUTES,
1963, CHAPTER 139, ARTICLE SO, AS AMENDED. AN AN-
NUAL DETERMINATION SHALL BE MAD~ OF THE NECESSARY
ALLOCATION OF THE ALLOTMENT BETWEEN THE VOLUNTEER
FIREFIGHTERS' PENSION FUND AND THE REGULAR FIRE-
FIGHTERS' PENSION FUND.
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(c) BEGINNING JANUARY 1, 1975, THE CITY OF ENGLE-
WOOD SHALL MAKE CONTRIBUTIONS TO THE VOLUNTEER
FIREFIGHTERS' PENSION FUND AS DETERMINED NEC-
ESSARY TO ANNUALLY FUND THE PENSION BENEFIT AC-
CUMULATIONS OF THE VOLUNTEERS. THE CONTRIBU~
TION SHALL BE BASED ON AN ACTUARIAL STUDY TO
BE DONE AT LEAST EVERY THREE YEARS. PENSION
BENEFITS TO VOLUNTEERS RETIRING AFTER JANUARY 1,
1975, WILL BE PAID FROM THESE CONTRIBUTIONS.
Section 2.
The amendments contained in this Ordinance shall
take effect on January 1, 1975.
Introduced, read in full and passed on first read-
ing on the 17th day of December, 1974.
-Published as a bill for an Ordinance on the 2~th
day of December, 1974.
Read by title and passed on final reading on the
6t h day of January, 1975.
Published by title as Ordinance No . .3 on the
9th day of January , 1975.
ATTEST:
e~r'c~erk-Treasurer
I, Karl Nollenberger, do hereby certify that the
a bove and foregoing is a true, accurate and complete copy
of the Ordinance, passed on final reading and published by
title as Ordinance No . ..3 , Series of 1975 .
ex officio City Clerk-Treasurer
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