HomeMy WebLinkAboutOrdinances - No. 579ORDINANCE NO. 579
AN ORDINANCE URENDING SECTIONS 8, 9, 12, 13, 14, 15 AND 20 AND REPEALING SECTION 21 OF ORDINANCE IUG. 1,16 ENTITLED ffdij ORDIN.rNCE CREATING A RETIREWENT
SYSTEM FOR CITY EMPLOYEES, ESTABLISHING A PENSION
FUND THEREFOR AND CHFATING k PENSION FUND."
WHEKEAS, the City of Lodi has had in effect Ordinance No.
4.16 providiny a nension systen for emnloyees of the City of Lodi,
and
WHEWrAS, at the time of the enactment of said Ordinance
the employees of the City of Lodi were not elipible for coverare
under the Federal Old Ape and Survivors* Insurance Plaogram, and
WHhWAS, said Ordipance No. /+l6 was so drafted as to pro-
vide for amendments thereto at the time that the employees of
the City of Lodi were covered by said Social Security program, and
WHEREAS, on July 1, 1956 the employees of the City qualified
and became elieible for coveraEe under said Federal orogram and
it is the desire of the Cityr Council of the City of Lodi to
amend Ordinapce No. 416 irl certain particulars in order to
sunnlempnt. and i-teqrate the local and federal pension and retire-
meqt, plans for the benefit, of the employees of the City of Lodi,
NOW THE,REFOKE, the City Council of the City of Lodi does
ordain as follows:
- Section 1. Section 8 of Ordinance No. 416 is hereby amended
to read in full as follows:
Section 8,l Computation of Pension, Every member of the
Retirement System shall unon retirement be entitled to a monthly
pension computed by dividing the total amount accumulated at
ret.irpment from the contribut,ions of said member and matching
contributions by the City, plus separation distributions as
defined in Section 8.3 hereof, toyether with interest on such
contributions and separation distributions, by the number of
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whole months of remaininm 1 ife exnectancy established for said
member by a recoynized Table of Fiortalities, as recommended
from tjme to time hy the Perlsion qoard and anproved by the Citv
Council. Tn addit ion, ever'* member: exceot members otherwise
covered under Sections 11 avd l3 hereof, shall he entitled to
a mont,hly pension poila? to three-quarters of one percent (?/4$)
of the salary naid for the movt,h of June, 1950, For each calendar
year of service renderpd qrior to the first day7 of July, 1950,
which said additional nmsinn shall be naid wh011y from City
funds.
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Section 8.2 (lltional- Comnlitati OT of Pension. Notwithstand-
inn tbe qrovision:: of Sertiov 8.1 hereof, any member of the
Retirement ST-stw retirin~ nrior to January 1, 1961, may elect
to receive a monthly nensiop hased iinon leneth of service and
averape monthlTr sa1ar.T ohtainirly i? the five (5) :rears next
vrecediI-cp necemher 31, 1056. Svch ?ension shall he equal t.o
one and two-tenths nercmt (1.7%) of the averace monthly salary
paid during slich wried for each calendar year of service sub-
sequerlt, to the first da-r of ,Tuly, 1950. In addition, each such
member shall be najd iinder this ontion a further pensim for
service rendered prior to the first day of ,July, 1950, computed
in the sgme manner and subject, to the same limitations as the
additional pension provided for in Sectiorl 8.1 hereof.
Section 8.3 aaratiort Dlstrjhutio~, All money accumu-
lated in the Pension fund to and including December 31, 1956,
by reason of retention of matchin? contributions made hy the
City in behalf of members terrnivatinP servicp nrior to retire-
rent, as contemplated in Section 14 hereof, together with
accumulated interest, thereon, shall be distrihuted to the
accounts of each member remaininc in service as of December 31,
1956, said distribution to be made by dividing the total of
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said accumulations by the total number of years of current
service rendered by said remaininp members, each said member to
be credited with the amount derived thereby multiplied by the
number of years of current service performed by him prior to
December 31, 1956. The amount of money similarly accruinp to
the Pension Fund for each calendar year thereafter shall be
distributed in such amounts as mav be recommended by the Pension
Board and approved-by the City Council, the annual credit to
each remainin? member to be determined by dividing said
approved amount by the number of remaininr members. Excess
matchin? contributions for Pol ice and Fire personnel covered
by Section 9,2 hereof shall be considered in establishing annual
credits for the remaining Police and Fire members only. All
separation distributions shall he considered as a part of the
matching contributions made by the City, and shall not be re-
funded upon termination of membershin in the Retirement System,
ezcept as provided in Section 15*
---- Section 2. Section Q of Ordinance No. 416 is hereby
amended to read in full- as follows:
Section 9.1 Rates of3ntribution. Each member of the
system shall pay as a percentace of his gross monthly salary,
exclusive of overtime, the followinp. percentage according to
attained age :
!k32 Percent age LiiE --- Percentage
18 3 -65 42 4.85
19 3.70 43 4.90
20 3075 44 4.95
21 3.80 45 . 5 .OO
22 3*85 46 5 *05
23 3.90 47 5.10
24 3.95 48 5-15
25 4.000 49 5.20
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_L Are Peyrsent,ape AJg PercentaEe
26 L.05 50 5.25
27 4.10 51
28 4.15 52
29 4.20 53
30 4.35 5
31 li .30 55
32 h.35 56
31 4 A-0 57
3L 4045 58
35 4-50 59
36 4.55 60
37 4.60 61
38 L.65 6-2
39 L.70 63
40 4 -75 6 4
Ll I,. 80 6s
Said contri ht,j on shall be clediicted
5-30
5.35,
5.40
5 -45
5-50
5.55
5.60
5.65
5.70
5.75
5.80
5.85
5 090
5-95
6.00
from the pross salary,
exclusive of overtime, of each member prior to the disbursement
of salaries and wages to the several. members, and shall be paid
immedi.ately i.nto the Pensi.nr! Fund.
for each member that the total ammint, of member cont,ributions,
the total amount of City contributions and any separation dis-
tributi.ons may be determined at any time. Interest earned sha1.l
he similarly recorded.
Records wi1.1.. be so maintained
Section 9.2 Rates ofCm~.-ibi.it4i.on - Police and Firs.
Rates of contribution for employees of the Pol.ice and Fire
Departments not eligible for coverare in the Federal Old Age
and Survivor's Insurance propram sha1.l he as prescribed in
Section 9.1 hereof, plus two and one-quarter percent (2$$)
of the first forty-two hundred dollars ($4200.00) of pross
annual. salary, exclusive of overtime. The matching requirements
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set forth in Section 10 hereof shall he met with respect to
the total contributions made by such Police and Fire members.
- Section 3. The first paragraph of Section 12 is hereby
amended to read in full as follows:
Section 12. Retirement at Age 3. The aye of sixty-five
(65) years shall be the normal retirement ap. Members who
shall pot. have attained the ape of sixty (60) years prior to
the first day of July, 1950, shall retire on the first day of
the month next succeeding the month in which they attain the
ape of sixty-five (65), unless the earlier retiremerlt age pro-
vided for in Sections 13.1 and 13.2 hereof is elected.
I_ Section 4. Section 13 of Ordinance No. 416 is hereby
amended to read in full as follows:
Section 13.1 Retirement Aye =Optiona_Z, Any member may
at his option retire at any age after attainment of ape fifty-
five ( 55). In each such case, prior service and current ser-
vice benefits shall he comouted on the basis of remainin,? life
expectancy as established by the Table of Mortalities provided
for in Section 8.1 hereof.
Section 13.2 Alternative Pension - ODtional Retirement AEe.
lgotwithstandinp the provisions of Section 13.1 hereof, any
member of the Retirement System electing to retire prior to the
attainment of the normal retirement. aQ;e and before January 1,
1961, may elect to receive a pension computed as provided in
Section 8.2 hereof and reduced in accordance with the following
Table :
AEe at Retirement Reduce To:
55 54%
56 56%
57 59%
58 62%
I
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&e at Retiremer! -____- Reduce To:
59 6 5%
60 69$
61 74%
62 80%
63 86%
64 93%
Section -5. Section 14. of Ordinance No. 416 is hereby
amended to read in full as follows:
Section 14. wmd of &mber Contributions, Each member
who dies resigned, is discharred or otherwise terminates his
membership in the retirement system prior to retirement, shall
have refunded to him the total amount of money contributed by
him to the system, plus such interest as shall have been credited
t,o his account to and including the date of death, resignation,
discharp;e or other termination.
Section 6. Section 15 of Ordivance No. 4.16 is hereby amended
to read in full as follows:
Section 15. Death Benefit. Upon the death of any retired
member, there shall be paid to his desiEnated beneficiary in
one lump sum the accumulated contributions of said member plus
one-half the accumulated separation distributions of said member,
toyether with interest thereon up to and including the date of
his death, less one-half ($) the accumulated total of such
current service pension payments which may have been made to
said member.
Section 2. Section 20 of Ordinance No. 416 is hereby
amended to read in full as follows:
Section 20. Amendment--Limitations, This ordinance may
be amended from time to time, except that changes affecting the
. principle of matchinp contrihutions by the City for current
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service, or the normal ontional or compulsory ace of retirement,
shall not be adopted except by a four-fifths (L/5) vote of the
Ci.tJr Council aft,er an election by system members on such pro-
posal or nroposals.
-.- Section 8, Section 21 of Ordinance No. 4.16 is hereby
amended to read in full. as follows:
Section 21. Effect of Social Securit,y for Police and Fire
Deoartment Emp.loyees.
additional contribution of two and one-qua.rter mercent. (Z@)
for employees of the Pol.ice and Fire Departments prosided for
in Section 9.2 hereof is heinp, established solely for the reason
that the members of said departmentsare not presently entitled ,
to coverage under the Federal. Old Age and Survivors Insurance
program. In the event tha.t Social Security does become avail-
able and the members of said departments elect to accept this
covera~ye, then and in t,hat event, unon the effective date of
the Social Security coverage the provisions of Sect,ion 9.2
hereof shall. thereafter become inoperative. If retroactive
coverage is ava.i.lab1.e to and. elected by the employees of said
Police and Fire Departments, then and ir! that event the City
of Lodi may use the two and one-quarter percent (2@) coptri-
bution made by the City to the pension fund to pay the City's
share of retroactive payments, and likewise the City of Lodi
is hereby authorized to use the employees' accumulated two and
one-quarter (2-&%) percent. cdntributions to pay the employees'
share of any of the amount. due in order to have retroactive
benefi.ts become effe.ctive, provided ?.hat a majority of the
members of the Poljce and Fire Departments elect in wrtting to
au.t,horj ze such payment, fi-rm t.hei.r cont,rib?t.i. ms theretofore made.
It is expressly understood that the
en? S::st.em shall he reduced
in an amount commensurate wi.th any such ?ayents so authorlzed
and made.
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I__-___ Section 9. Effertive --_ %%e, Thtc ordinance shall b? i.n
full force and effect on snd after the first day of January, 1957.
Apnroved this 2nd day of January, 1957.
I a. N$ 13. NITMLL, lviayor
Attest :
CljiVES, cd . , City Clerk
1, HF,MHV A. GLUVbS, tTK., City Clerk of the City of Lodi
do hereby certify tha? the fort.pii.; Ordinance No. 579 was
re=;ularl.y introduced in the City Courcil of said City at a
regular meeting thereof held on December 19, 1956, and was
thereafter at a subseqiipnt regular meeting, passed, adopted
and ordered to Drint on January 2, 1957, by the following vote:
AES : Councilmen - Puller, f!ughes, Katzakian 9 Robinson
and Mitchell
NOES : Councilmen - None
ABSENT: Councilrnm - None
I
sipe d
publish
Dated:
further certify that
by the Mayor on the
ed according to law.
January 8, 1957
.L
“1 said ordinance was anprove? an&
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