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HomeMy WebLinkAboutA002 - proof of publication dated October 30, 1990 normal retirement benefit. Such retiree shall, for all purposes of the utility Proof of Publication in The retirement system be deemed to be on normal retirement. Sec. 28.69. (RESERVED) THE DAILY TRIBUNE Sec. 28.72. EFFECT OF REEMPLOYMENT ON RETIREMENT. If an employee receiving retirement income is reemployed by the utility, the retirement income payments shall cease. Upon subsequent retirement, the employee's retirement income shall be determined as if the employee were then LEGAL NOTICE first retired based upon credited service STATE OF IOWA,STORY COUNTY as. at the time of prior retirement, plus the , ORDINANCE NO. 3102 credited service following reemployment. AN ORDINANCE TO AMEND THE MUNICIPAL CODE Sec. 28.73. DISABILITY BENEFITS, WHEN OF THE CITY OF AMES, IOWA, BY REPEALING PAYABLE. Disability benefits, when T1 Dennis Waller, Bait, on SUBSECTIONS 28.44(4) AND (5), 28.52(ING approved by the Board upon written )ath depose and Say that I am president, goRefal AND SECTIONS 28.45, 28.51, 28.67, 28.69, application, become payable on the day nanaaar acGniinf qer Of the THE DAILY 28.72, 28.73, 28.74 AND 28.78; RE-ENACTING following the day when all accrued sick RIBU NE, a daily n SAID SUBSECTIONS AND SECTIONS FOR THE leave and vacation has been used and Y newspaper, printed et Ames, Story PURPOSE OF CLARIFYING THE INTENT AND earnings cease to be paid. However, on a +Ounty,Iowa;that the annexed printed PROVISIONS OF THE UTILITY RETIREMENT voluntary basis a member applying for SYSTEM; REPEALING ALL ORDINANCES OR PARTS disability may save up to sixty (60) days' OF ORDINANCE IN CONFLICT HEREWITH TO THE vacation or sick leave during the time 0 r d i n a t1 c e # 1 0 2 EXTENT OF SUCH CONFLICT IF ANY; AND disability benefits are received for a ESTABLISHING AN EFFECTIVE DATE. BE IT Period not to exceed two (2) years. At ORDAINED, by the City Council for the City any time the member may elect to use that of Ames, Iowa: Section One. The banked vacation or sick leave in lieu of Municipal Code of the City of Ames, Iowa disability benefits. Sec. 28.74. AMOUNT, shall be and the same is hereby amended by DURATION OF DISABILITY BENEFITS. (1) repealing subsections 28.44(4) and (5), Each employee incurring a disability as 28.52(3) 28.78(1) and (2) and sections defined in this chapter is entitled to a 28.73, 28.8. 2l) a 2(2) 28sec and monthly disability benefit of seventy-five 'as published in said newspaper for 1 28.72 and reenacting the same to read as (15) percent of the employee's highest ---- follows: "Sec. 28.44. DEFINITIONS. (4) average earnings. Except as otherwise Disability. The inability of an employee provided, the benefit continues during the :)nsecutive weeks, the first to perform, due to mental or physical period of disability until the day upon id the last Of Said injury or disease which is not which the first of the following occurs: publication was on the self-inflicted, or incurred in the (a) Disability ceases in accordance with commission of a felonious act, for any the certification of a physician approved period exceeding sixty (60) days, the by the board. (b) Earnings again become 3 0 t h day of October duties of any assigned position within any payable. (c) The employee refuses to utility. An employee is considered to be submit to a reasonable physical 3 90 disabled only during periods for which the examination by any physician approved by board shall receive both of the following: the board. (d) The person dies; or, any (a) Written certification by at least two of the following pertains: (i) for 2 licensed and disability which occurred before a e 61, ( ) practicing physicians y 9 approved by the board that the employee is disability benefits end at age 65 or the vorn to before me and Subscribed in my presence by disabled and unable to reasonably perform normal retirement date (ii) for "n Dennis Waller, the duties of any assigned position within disability which occurs after age 61, *Yegg>;tt. any utility. (b) Written certification by disability benefits shall end after four the administrative officer of the employee years or at age 70, whichever occurs S 3 0 t h day of October that such employee (i) Is not separated first. (2) When disability results from from the employment of the utility and alcoholism, drug abuse, mental disorder or (ii) Is disabled and is consequently not nervous disorder, disability benefits 90. entitled to any earnings. (5) Ear�ning_s. shall be paid for not longer than two 7 Salary or wages paid by the City of Ames years unless, at the end of that two years / to an employee for personal service. Sec. the member is: (a) enrolled in an otary Public 28.45. Any employee eligible for alcoholism, drug abuse treatment program participation in the utility retirement approved by the utility; or (b) confined in and for the State of Iowa system who wishes to change from the IPERS in a hospital or other facility qualified system can do so only within the first to provide necessary care and treatment as,$ 77. 73 thirty days after becoming eligible. Sec. for alcoholism, drug abuse, mental 28.51. OPTIONAL PAYMENT PLAN. (1) An disorder or nervous disorder, then the employee, by written application made not disability payment period may be extended, less than sixty (60) days prior to in the absence of fraud or abuse, to retirement, may request approval of the include the time during which the member board of trustees for payment of benefits, actively participates in the treatment in accordance with a sound actuarial program or remains confined. Sec. 28.78. basis, under one of the following options: AMOUNT OF DEATH BENEFIT. The amount of (a) A straight life annuity option whereby the death benefit shall be: (1) Upon the monthly payments are increased on the death of an employee in service who has basis of a waiver of death benefits. (b) neither a surviving spouse or unmarried A joint and survivor option whereby death children under the age of 18, an amount benefits are waived and monthly benefit equal to the sum of the deceased payments are reduced in return for an employee's accumulated contributions and assured monthly benefit payment, to a regular interest accumulated thereon. (2) designated surviving spouse, during their Upon the death of an employee in service life or for a specified number of who is survived by a spouse or by payments. (c) A variation 'of option (b) unmarried children under the age of 18, an to provide for automatic conversion of amount as follows: (a) To the surviving option (b) to option (a) as of the date of spouse, an annuity payable in monthly the death of the spouse, if the spouse installments, equal to: 60% x years of service x 1.8% x highest average earnings; should predecease the retired employee. (d) A joint and survivor option whereby but not less than the smaller of 60% x monthly benefit payments are reduced in 40 x highest average earnings or 60% x return for an assured monthly benefit years of service to age 60 x 1.8% x payment to a designated surviving spouse unmarried average child earnings. under age 18b on annual hihest ) o or for a specified number of payments with amount equal to: (i) If the deceased automatic conversion to normal retirement employee is survived by a spouse, the income payments if the spouse should least of: a. 60% x highest average predecease the retired employee. These earnings divided by the number of eligible options shall take the form of either a children; b. $2,700 divided by the number 100%, 75% or 50% joint and survivor annuity, or a ten (10) year certain and of eligible children; or, c. $900. (ii) life annuity, if said optional form of If the deceased employee is not survived payment is determined by an actuary to be by a spouse, the least of: a. 75% of the actuarial and value equivalent of the highest average earnings divided by the retirement income provided for by Section number of eligible children; b. $3,230 28.68. (2) The City finance director divided by the number of eligible shall give notice to employees and persons children; or, c. $1,080. (3) Upon the on disability, when they are within six death of a terminated vested employee, months of normal retirement, that they accumulated contributions of the employee should consider selecting or reaffirming plus credited, regular interest. (4) Upon an option under this section. All option the death of an employee receiving selections shall be in writing signed by disability benefits, the same death benefit as for one who dies while still in both the employee and the employee's spouse. Sec. 28.52. VESTING. (3) Right service. The spousal benefit with respect to Withdraw Contributions. A terminated to such person shall be based on the vested employee shall have the right, salary earned and the length of service prior to the commencement of the prior to disability." (5) On the death of employee's retirement income, to receive a a retired employee, other than one who refund of the employee's accumulated waived death benefits by the exercise of contributions plus credited, regular) an option under provisions of Section interest. Sec. 28.67. RETIREMENT DATE: 28.51, any amount remaining in the NORMAL, 55/30. (1) The normal retirement employee's account. Section Two. Any and date shall be the-first day of the month all ordinances or parts of ordinances in following the month in which an employee conflict herewith are hereby repealed to in service or a disabled employee attains the extent of such conflict, if any. the age of sixty-five (65). There shall Section Three. This ordinance shall be in be no penalty or loss of benefits and effect from and after its whatsoever for the employee who elects to passage and publication as required by work past the normal retirement age of passed this 23rd day of October, 1990. sixty-five (65). (2) Subsection 1 hereof Nancy Dionigi,7ity Clerk notwithstanding, any employee with thirty Larry R. Curtis, Mayor (30) years of creditable service may elect to retire at any time after attaining age Published in The Daily Tribune October 30, fifty-five (55) and receive the full 1990.