§ 32-29. Termination of employment, vesting, refund of employee contributions.

(a)

In the event of the termination of employment of any member hired prior to December 31, 1983, such member shall be vested in the pension plan under the most advantageous provisions of subsections (b)(1), (b)(2), (b)(3), or (b)(4) of this section and vested in the retirement plan in accordance with subsection (b)(6) of this section. In the event of the termination of employment of any member in the pension plan hired on or after January 1, 1984, such member shall be vested only in accordance with the provisions of subsection (b)(4) of this section except as otherwise provided in subsection (b)(5) of this section. Any qualifying member in the pension plan may elect to receive early retirement benefits in accordance with the provisions of this article. Nothing herein shall be interpreted to prevent application by a qualifying member for disability retirement benefits from the pension plan in accordance with the provisions of section 32-36.

(b)

In the event of the termination of employment of a member:

(1)

If said member has worked for ten (10) years he or she shall not forfeit any pension right. Membership in the pension plan shall continue and upon attainment of his or her normal retirement date he or she shall be entitled to receive a retirement benefit determined in accordance with section 32-27 and based on the member's average compensation and credited service to the date of termination. Likewise such member in the pension plan may exercise early retirement options but only after the age of fifty-five (55).

(2)

If a pension plan member's employment is terminated and said member cannot qualify under subsection (b)(1) of this section said member may qualify for a vested retirement benefit from the pension plan if the sum of his or her years of service plus said member's age at his or her last birthday totals the number fifty (50). Said member shall receive a pension from the pension plan as described in subsection (b)(1) of this section.

(3)

A member terminating before normal retirement date not qualifying under subsections(b)(1) or (b)(2) of this section loses all pension benefits from the pension plan unless he or she is rehired and can accumulate the additional service to qualify under subsections(b)(1) or (b)(2) of this section.

Persons returning to work must work a minimum of one (1) year to qualify under this subsection (b).

(4)

The benefits provided under the pension plan shall vest in accordance with the following schedule:

VESTING SCHEDULE

Years of Full Employment	VESTED Percentage
Less than 5 years	0
5	50
6	60
7	70
8	80
9	90
10	100

 

(5)

a.

Effective as of July 1, 2011, a member who separates employment with the employer after that date with less than five (5) years of service shall be entitled to a return of his or her employee contributions to the pension plan.

b.

Effective as of July 1, 2011, a member who separates employment with the employer after that date with more than five (5) years but less than ten (10) years of service shall have the option of receiving his/her employee contributions to the pension plan plus three (3) percent interest (or such higher rate that may be approved from time to time for a member in either the collective bargaining agreement covering such member or by approval by the City Council with respect to members holding positions that are not included in any collective bargaining agreement) in lieu of any other partially vested benefit under the pension plan provided that such member makes such irrevocable election in writing at the time of his or her separation.

c.

In the event that a member who separates service and receives a return of contributions (with or without interest as set forth in subsections (b)(5)a and (b)(5)b of this section) and the member is subsequently re-employed by the employer, the member will not receive credit for pension or retirement purposes in the pension plan or the retirement plan for any years of service prior to his or her reemployment.

(6)

The benefits provided under the retirement plan shall vest in accordance with the vesting schedule set forth in the applicable plan document in effect for such retirement plan. Any additional terms and conditions applicable to the retirement plan shall be set forth in the applicable plan document governing such retirement plan, which may include a customized or prototype or other standard plan document furnished to the City by the vendor or other service provider hired by the City to provide services with respect to such retirement plan.

(Code 1961, § 14-7; Ord. No. 19-1963, 12-5-1963; Ord. No. 189, § 11, 7-3-1973; Ord. No. 312, 9-24-1984; Ord. No. 31, § 14-7. 12-6-2016)