Section 2-193 Refund of contributions and vested benefits.

Prior to the adoption of TQM Code update - Ch. 2 on 10/11/2004, Section 2-193 read as follows.

    (a)    (1)  Any employee leaving the employ of the city before he becomes eligible for retirement  under the provision of this division and who has paid assessments to the pension fund for a period  of less than ten (10) years of service will be refunded the total amount he has paid into the pension fund plus interest from the beginning of his membership in the plan as calculated in section 2-192(d). If an employee desires to retire under the disability provisions of section 2-189(f), such employee's refund shall not be made until such time as the Social Security Administration has  denied his claim for disability benefits. Such refunds shall be with interest from the beginning of his membership in the plan. Interest will be calculated as provided in section 2-192(d). Upon such refund being made or tendered to such person, there shall be no further liability of any kind upon the city or the pension board of trustees.

        (2)   Notwithstanding anything contained in subparagraph (a)(1) above to the contrary, a city  manager incurring a break-in-service and who has been refunded the total amount he has paid into  the pension fund, plus interest, may upon re--employment with the city, remit to the city an  actuarially determined amount from the break-in-service until re-entry into the plan. For purposes of this section 2-193(a)(2) the term "actuarially determined amount" shall mean that amount as determined by the actuary employed by the city as that amount to be remitted to the city by the city manager to provide a calculated benefit pursuant to section 2-191, as if the city manager had not  incurred a break-in-service. The city manager who is re-employed with the city after incurring a  break-in-service shall re-enter the plan upon payment of all actuarially determined amounts as if the city manager had not incurred a break-in-service.A city manager who satisfies the plan's eligibility requirement pursuant to section 2-189, but who does not remit to the city the actuarially  determined amount after a break-in-service may re-enter the plan on the effective date of  membership pursuant to section 2-190.

    (b)    If a terminating employee has completed ten (10) or more years of service, he shall have  the option of:

        (1)    Refund  of the total amount he has paid into the pension fund plus interest from the beginning of his membership in the plan as calculated in section 2-192(d); or

        (2)    Retaining a vested interest in the plan unless he has been discharged for dishonesty  related to his employment.

    (c)    If any employee with ten (10) or more years of service does not withdraw his contributions from the pension fund, he will be entitled to a vested pension payable at age sixty (60)  calculated at one hundred percent (100%) of his accrued benefits. The accrued benefits will be calculated as  for normal retirement but will reflect the years of service and average  salary up to date of  termination.

    (d)    If any employee with ten (10) or more years of service, who at termination chooses to leave his contributions in the pension fund, should at a later date decide to withdraw his contributions he may do so but interest on these funds as calculated under section 2-192(d), will be only to date of  termination of employment.

    (e)    If a Class A or Class B member's  employment with the city is terminated he is subsequently re-employed by the city after December 31, 1996, he will be treated as a new  employee and his prior service to the city will not be recognized in determining his years of service  as a Class C employee. Notwithstanding anything contained herein to the contrary, if the city  manager's employment with the city is terminated and he is subsequently re-employed by the city,  he will not be treated as a new employee and his prior service to the city will be recognized in determining his years of service, but only if the city manager remits to the city the actuarially determined amount pursuant to section 2-193(a)(2).  If the city manager fails to remit to the city  the actuarially determined amount pursuant to section 2-193(a)(2), then and in that event he will be  treated as a new employee and his prior years of service to the city will not be recognized.

(Ord. of 12-23-96(1),  I; Ord. of 2-8-99)