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Home My WebLink About1973 Ordinance No. 029DTRODUGBD AS A BILL BY COUNCILWOMAN HENNING. BY AU'l'HORITY ORDIRAJfCE NO. ll_, SBRIBS OP 1973 Alf ORDIRARCB AllBIDDIG CHAPTBR 9, TI'l'LE V ENTITLED !\RETIREMENT" OP THE '.69 . E.M.C., I . AU'l'llCllIZIRO TllB CREATION BY COUNCIL OP 'l'llB BSTABLISIDIBNT OP OPTIONAL PENSION OR 1 DBlPBRRBD CCllPDSATION PLANS POR NON-CLASSIPIED EMPLOYEES OP 'l'RE CITY OP ENGLEWOOD; · RBDBIPIRINO ACOUllULA'l'BD CON'l'RIBUTIONS; RBDBPINING EARLY RETIREMENT DATE AND CLARI':'" "' l'!DO PROVISIORS RBLATIRG '1'0 VBSTDIG APTER PIVE (5) YEARS OR MORE OP CREDITED SERVICE. BE IT ORDAINED BY THE CITY COUNCIL OP 'l'RE CITY OP ENGLEWOOD, COLORADO, as tollowa: Seotlon 1. That auba-otion (n) or Section 3, Chapter 9, Title V, "Definitions" or the otticial CitJ Code be aaended to read aa tollowa: 5-1-3 DDDI'l'IONS (n) •Acc\lllUlated Contributions" aball mean the sum ot the member's contributions to tb1a plan, together with such reasonable lntereat thereon aa aball be established bJ the Retirement Board trm time to time, trom actual earnlnga and income with reapect to said tund. Section 2. !'bat aubaeotion (b), (c), and (d) i ot Section 5, Chapter 9, Title V or the ottooial CitJ Code i• -nded to read aa tollowa: 5-9-5 lllPLO!BIS ILIODLB AP'l'BR BPPBCTIVB DATE (b) Tbe CitJ Council1•97, bJ Ordinance, establish optional Pension or Deterred Collpenaation Plana tor all non-claaairied employees as defined bJ Section 5-1-1 or this Titl,, and subsection (d) above. Upon eatabliataent or &DJ optional plan or plans by the City Council, said non-claaaitied employees may at their option elect· to COiie witbln the provisions ot &DJ such plan, provided, howeverl that no non-cluaitied emplo1ee 11&1 be a m•ber ot more than one (lJ ret1reaent plan during bia eaplo,..nt within the City or Englewood. In th• event that &DJ said non-olaaaitied employee or the City, who i• preaentlJ a aeaber ot the City or Englewood Retirement Plan, elects to cme within the provisions ot &DJ other retirement plan eatabliabed bJ the CitJ Council, he shall have tbe option to become a vested ... ber ot the CitJ or Inglewood Retirement Plan or withdraw bi• accuaulated contributions trom the City ot Englewood Retirement Plan. (c) Jfon-olaaaitied aplo1••• ot the Cityppreaently members or the City or lnglewod Ret1r•ent Plan, shall within aix (6) months trom the institution or &nJ optional plan or plans by City Council, shall elect to bee•• a ~er ot &DJ optional plan or plans. Said election to bee•• a aaber or the new plan or to remain a member or the City or Englewood Ret1reaent Plan shall be irrevocable. (d) Tboae CitJ emplo1eea wbo are claaaitied pursuant to 5-1-1 or this Title who 11&7 bec011e unclaaaitied bJ promotion or appointment or other- wise, •ball have alxtJ (60) da1a trom the ettective date or their;appoint- .. nt 1n aa1d non-claaaitied position 1n which to elect either to remain 1n or to beoOlle a aellber or the City ot Englewood Retireaent Plan or to beccae a -a,er or ADJ other optional plan. The election to become a aellber or one or anJ other plan shall be irrevocable. Section 3. That Section 11, Chapter 9, Title V entitled "Early Retirement Date" or .the otticial CitJ Code ia bereb1 amended to read aa tollowa: 5-9-17 EARLY RBTIRBllDT AGE A ... ber abo baa attained the age or titty-tive (55) years and has completed ten(lO) 1eara or Credited Service may elect to retire aa ot the first day or any calendar aonth. Section •. Tbat Section 19, Chapter 9, Title V entitled "Diaabilit1 Retirement Date" or the ottiolal Cit1 Code is berebJ amended to read aa tollowa: 5-9-19 DISABILITY RBTIRBllBNT DATE Upon written applicationto the Retirement Board, a member with at least tive (5) 1eara ot Credited Service and wbo baa beoome _zpermanently incapacitated tor the performance ot dut1 tr• anJ cause shall be granted a Disability Retirement. The DiaabilitJ Ret1r .. ent Date shall be the tirat dar or a month coincident with or next tollowing the date upon which the diaabilitJ is determined by the Retirement Board to baYe occurred. The Retirement Board shall ba•e the sole authority to make the tactual deterainatlon or eligibilitJ or a mellber for a Disability Retirement, but such deter- aination ahall be aade in a non-discriminatory manner and with competent mediaal advice. I . I II I I Section 5. '!'bat Section 22, Chapter 9, Title V entitled "Early Retirement Benefit" is berebJ -nded to read •• tollon: 5-9-22 IWU.t RB!'IRBllBl'l' BBIBPIT A 11811ber retiring prior to hi• normal retirement date shall be entitled to receive a normal retir .. ent benetit reduced by one-titteenth (1/15) tor each year ot tbe tirat ti•• (5) 1eara and one-thirtieth (1/30) tor each additional year by wb1cb tbe earl.7 retir .. ent date precedes the normal retirement date. Section 6. !'bat Section 2•, Chapter 9, Title V entitled "Disability Retirement Benefit" ot tbe otticial CitJ Co-e ia hereby amended to read aa follows: 5-9-2-DISABILITY RB'l'IRBMBM'l' BENDIT A ... ber who baa become disabled aa aet out in Section 5-9-19,. but who has leaa tban ti•• (5) 1eara ot credited service on which the disabling event occurs, ahall recei•• a retund ot bis accumulated contributions. A ••ber wbo becoaea diaabled'U stated 1n Section 5-9-19 and has at least ti•• (5) 1eara ot credited service shall be entitled, as ot bis date or disability aa detel'llined bJ the retire .. nt board to tbe actuarial eqaivalent or his normal retir ... at benetit wbich ia baaed on hie credited service prior to the date or his diaabilitJ and wbicb would have been p&)'able to hill at hie normal retirement date. Arter conaidering the aellber'a needs, the retirement board shall determine wbetber tbe aetlber ia to receive aucb actuarial equi•alent computed as or the date ot aucb dleabilltJ, u tollowa: (a) aa a retirement benetit payable monthly tor the member's lite, or (b) •• a retir .. ent benetit p&)'able monthlJ until death or the expiry ot a stated number ot years, whichever occurs first, or (c) aa a retir .. ent benetit p&)'able in a stated number or monthly ~nta, or (d) u a single lump aum p&)'ment, or (e) aa one ot the other torma ot p&flllent provided in Section 5-9-26. Section z. 'l'bat aubaection (b) ot Section 37, Chapter 9, Title V entitled "Five or llore tears credited Service" ot the Otticial City Code is hereby amended to read u tollon: 5-9-37 J'IVB OR llORB YEARS CRBDI'l'BD SERVICE (b) 'l'be following shall apply to any employee or the City or Englewood and a aeaber ot the City ot Englewood Retirement Plan, and who has accuaulated tive (5) years or more or credited service and has resigned or was discharged trom service with the City, atter Decellber 31, 1972. Introduced, read in tull and passed on tirat reading on the 7th day or August, 1973. Publiabed aa a Bill tor an Ordinance on the 9th day or August, 1973. Read bJ title, and passed on tinal reading on the 20th day or August, 1973. Published by title aa Ordinance No. 29, Series ot 1973, on the 23rd day or Auguat, 1973. ~~11 •• llQor A'ft'BS!: I, larl Rollenberger, do berebJ certify that the above and foregoing is a true, accurate and complete copy ot the Ordinance, passed on final reading and published by title aa Ordinanoe No. 29, Series ot 1973. ~rJt)~~ ex orr1010 City Clerk