[1]
Editor’s Note: The amended Police and Fire Pension Plan
adopted by Ord. No. 4254 was approved by a majority of the qualified
voters at an election held 4-5-2016.
[CC 1961 §7.01; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §1, 12-7-2015]
There is hereby provided a plan ("Pension Plan") for the retirement
of the salaried members of the Police and Fire Departments of the
City of Berkeley (hereinafter referred to as "covered employees")
on account of age or disability, and for the payment to such employees
during their retirement and upon their death to their surviving spouses
and minor children, of the pension as herein more specifically set
forth, in pursuance of the Constitution of the State of Missouri and
the laws enacted pursuant thereto.
[CC 1961 §7.02; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §2, 12-7-2015]
A fund to be known and designated as the "Police and Firemen's
Retirement Fund" ("Retirement Fund") shall be set up and maintained,
to be derived partly from taxation as hereinafter set forth, and partly
from contributions made by salaried members of the Police and Fire
Departments and other sources as hereinafter provided.
[CC 1961 §7.03; Ord. No. 2039 §1, 10-7-1974; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §3, 12-7-2015]
There is hereby created a Board of Trustees to consist of six
(6) members and to be known as the "Board of Trustees of the Police
and Firemen's Retirement Fund." The Board shall consist of the City
Manager, a member of the City Council, one (1) salaried member of
the Police Department, one (1) salaried member of the Fire Department,
and two (2) additional members who are bona fide citizens of Berkeley,
outside of the City administration. The member of the Council shall
serve during the pleasure of the Council. The members from the Police
and Fire Departments are to be elected by a majority vote of the employees
of their respective Departments for terms of two (2) years each. The
citizen members shall be appointed by the Council for a term of two
(2) years. The Director of Finance of Berkeley shall serve as Treasurer
of the Board. The members of the Board of Trustees shall serve until
their successors shall be chosen in the manner provided herein. No
member of the Board shall receive any compensation for his services
as such. Vacancies on the Board shall be filled for the remainder
of the term in the like manner as original appointments. The Board
of Trustees shall elect one (1) of its members as Chairman, one (1)
as Vice Chairman and appoint a secretary who may or may not be a member
of the Board.
[CC 1961 §7.04; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §4, 12-7-2015]
A.
The Board of Trustees provided for herein shall be vested with the
exclusive management and control of all matters pertaining to the
administration of the Retirement Fund, the investment and reinvestment
thereof, and may sue or be sued in their capacity as such Board of
Trustees; shall receive and hold all monies, securities and other
property in the name of said Board of Trustees for the use and benefit
of said Retirement Fund, and may accept donations therefor. The Board
shall be vested with full power and authority to employ and fix the
compensation of necessary employees, and to incur and pay such medical,
legal, actuarial and other expenses as may be found necessary and
desirable in the performance of their duties; provided, however, that
the expenses shall bear a reasonable relation to the income of the
Retirement Fund. The Board shall keep minutes of all its meetings,
as well as full and complete records of all receipts, securities and
other property coming into its hands, in such manner as may be prescribed
by the Director of the Department of Finance of the City, and all
such minutes or records shall be open to public inspection; provided,
however, the records of any medical examinations made of any retired
employees or applicant for retirement shall not be subject to public
inspection.
B.
The Board shall have exclusive jurisdiction to receive, hear, and
rule upon all claims for benefits from the Retirement Fund and to
hear and determine all such claims in the first instance. All decisions
of the Board shall be by majority vote of the members thereof, and
the Board shall take and preserve the evidence on any disputed claim.
The Board shall have discretionary authority to determine eligibility
for benefits and to construe the terms of the Pension Plan, and other
pension documents. Such decision shall be final and binding on all
parties. The Board's decisions shall be subject to judicial review
under the arbitrary and capricious standard of review.
C.
The Board shall have the power to prescribe rules for its own meetings
and proceedings and shall be required to provide suitable forms of
application and other forms to be used in making claims for benefits
from the Retirement Fund, and shall have power to prescribe rules
and regulations not inconsistent with State laws, the City Charter,
or this Article to govern and control the hearing, consideration,
and disposition of all claims and other administrative matters before
it.
D.
As provided by Missouri law, currently Section 86.590, RSMo., the
Board shall comply with the prudent investor standard for investment
fiduciaries when investing assets of the system, and may invest and
reinvest the moneys of the system, and may hold, purchase, sell, assign,
transfer or dispose of any of the securities and investments in which
such moneys shall have been invested, as well as proceeds of such
investments and such moneys subject to the applicable legal restrictions
provided under Missouri law for police and firemen's pension systems.
E.
The Board, with respect to all or any part of the assets of the Retirement
Fund, may appoint an Investment Manager or Managers to manage (including
the power to acquire and dispose of) any assets of the Retirement
Fund. No Trustee shall be liable for the acts or omissions of such
Investment Manager, or be under an obligation to invest or otherwise
manage any asset of the Retirement Fund, which is subject to the management
of any Investment Manager.
F.
The Board shall retain a competent actuary on an annual basis and
shall set up a system of accounts, such as will be required for the
actuary to determine annually the financial condition of the Retirement
Fund, the contributions required annually for the sound actuarial
operation of the Pension Plan and shall furnish to the Council, upon
request, such information in order that the Council may have the necessary
data concerning the tax requirements of the Retirement Fund.
G.
At least one (1) regular meeting of the Board shall be held each
quarter, together with such additional meetings as may be required
for the transaction of its business.
H.
The enumeration of the specific powers and authority of the Board
of Trustees shall not be construed in limitation of their powers and
authority to do all things necessary or reasonably required to carry
out and make effective the specific powers herein granted.
[CC 1961 §7.05; Ord. No. 2284, 8-7-1978; Ord. No.
4197 §1, 2-16-2015; Ord. No. 4254 §5, 12-7-2015]
A.
The Retirement Fund shall consist of:
1.
The proceeds from any public funds as authorized by the City
Council and not exceeding thirty-three cents ($0.33) per one hundred
dollars ($100.00) of the assessed values of all taxable real and tangible
personal property, as the same may appear on the tax books for the
City.
2.
Any and all property given or donated to the Retirement Fund
from any source.
3.
The earnings on all investments and all interest earned.
4.
The contributions paid into the Retirement Fund by the covered
employees as provided in this Article.
[CC 1961 §7.06; Ord. No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §6, 12-7-2015]
A.
Every covered employee of the Police and Fire Departments of the
City of Berkeley shall be assessed and required to pay into the Retirement
Fund a sum equal to six percent (6%) of their salary.
B.
Each covered employee of the Police and Fire Departments shall execute
and deliver to the Retirement Fund Treasurer an authorization in proper
form for the deductions herein described, and no person shall be employed
or retained as a member of the Police or Fire Department unless such
authorization has been executed and delivered. A covered employee
employed with either Department refusing to execute such authorization
shall be ineligible to receive any of the benefits herein provided.
C.
The City of Berkeley in preparing its payroll for members of the
Police and Fire Departments shall be authorized and hereby required
to deduct from the compensation due each covered employee for each
payroll period the sums as set forth herein, and such deductions are
to be paid to the Treasurer of the Board of Trustees to be placed
in the Retirement Fund.
[CC 1970 §7.07; Ord. No. 2120 §1, 12-15-1975; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §7, 12-7-2015]
The term "covered employee," as used in this Article, shall
mean a policeman or fireman employed by the City of Berkeley as a
full-time, permanent, regular employee of such Department in active
service as a policeman or fireman. The term "covered employee" shall
not be construed to include school traffic officers or any employee
who is not a full-time, permanent, regular employee of such Departments
in active service as hereinbefore described. However, the term "covered
employee" shall include any probationary policeman or fireman.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §8, 12-7-2015]
The term "Code," as used in this Article, shall mean the Internal
Revenue Code of 1986, as amended, and any regulations thereunder.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §9, 12-7-2015]
A covered employee's "compensation" shall mean the gross amount
paid to the covered employee as stated on IRS Form W-2. The annual
compensation of each covered employee taken into account in determining
benefit accruals in any plan year beginning after December 31, 2001,
shall not exceed the limits set forth in Section 401(a)(17)(B) of
the Code. "Annual compensation" means compensation during the plan
year or such other consecutive twelve-month period over which compensation
is otherwise determined under the Plan (the determination period).
[CC 1961 §7.08; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §10, 12-7-2015]
No portion of the Retirement Fund herein created shall be used
for any purpose other than that set forth in this Article, and any
person consenting to a diversion of any part of the Retirement Fund
to any other purpose shall, upon conviction thereof, be subject to
a fine of not more than five hundred dollars ($500.00), in addition
to any other penalties prescribed by law.
[CC 1961 §7.09; Ord. No. 2152 §1, 6-21-1976; Ord.
No. 2279 §1, 8-7-1978; Ord. No. 2623 §1, 9-6-1983; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §11, 12-7-2015]
A.
Any covered employee having attained the age of fifty-five (55) years
and having twenty (20) years of service in either Department, or a
combination of service in both Departments aggregating twenty (20)
years, shall be eligible for retirement, and upon application therefor,
duly approved by the Board of Trustees, shall be paid benefits as
prescribed herein; provided, however, no covered employee shall be
required without his consent to continue in service of the Police
or Fire Department after becoming eligible for retirement under this
Section, nor shall such employee remain in the service of the City
thereafter except with covered employee approval of the City Manager
who shall, before making his final determination, receive from the
Civil Service Board and the Department Director their recommendations
and shall act in compliance with Section 623(f) of the Age Discrimination
in Employment Act.
B.
Any covered employee having been vested and having attained the age
of fifty-five (55) years but having less than twenty (20) years of
service shall be eligible to retire for the benefits hereinafter described.
C.
Upon termination of the employment of a covered employee who has
completed at least ten (10) years of service, that covered employee
shall be entitled to a vested deferred interest as hereinafter prescribed.
[CC 1961 §7.10; Ord. No. 2652 §1, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §12, 12-7-2015]
A covered employee who becomes partially or totally disabled
within two (2) years of his date of employment resulting from a medical
condition which existed prior to his employment with the City shall
be ineligible for any type of disability retirement benefit.
[CC 1961 §7.11; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §13, 12-7-2015; Ord. No. 4688, 9-20-2021]
A.
Covered employees who shall sustain injuries while in the discharge
and performance of their duties, including the performance of any
duties by members of the Police Department that may be assigned them
as deputy officers of the Police Department of St. Louis County, provided
that such deputization has been authorized by the Council, shall be
eligible for benefits as herein provided, independent of the length
of service in said Departments in either of the following cases, and
none other, to wit:
1.
If such injuries shall result in permanent total disability
of such covered employee within six (6) years next following the date
of his injury. "Permanent total disability" for the first twenty-four
(24) months of the disability means that the Covered Employee is incapable
of performing any of his/her duties in the Department in which he/she
was employed at the time of his/her disability, and thereafter means
that the Covered Employee is incapable of performing any occupation
or employment.
2.
If such injuries shall result in the death of such covered employee within six (6) years next immediately following the date of such injury, or if his/her death shall occur while receiving benefits under Subsection (A)(1) above, then and in such event, his/her surviving spouse and minor children, if any, shall be entitled to benefits as herein provided.
[CC 1961 §7.12; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §14, 12-7-2015]
Covered employees who sustain illness before retirement age resulting in permanent total disability as set forth in Section 200.240, or who shall sustain injuries while not in the performance of their duties resulting in permanent total disability as set forth in Section 200.240, except illness contracted or injuries sustained while on military leave of absence (see Section 200.260), or self-inflicted injuries, or while engaged in any employment other than as a salaried employee of the Police or Fire Department of the City, shall be entitled to benefits as herein provided and in the event of death from such causes, except as noted above, or while receiving benefits, their surviving spouses and minor children shall be entitled to benefits as herein provided. Notwithstanding the foregoing, effective with deaths occurring on or after January 1, 2007, in accordance with the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008, if a covered employee dies while performing USERRA-qualified military service their surviving spouses and minor children shall be entitled to benefits as herein provided.
[CC 1961 §7.13; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §15, 12-7-2015]
Any applicant for employment in or reinstatement to the Police or Fire Department following a period of military service during a national emergency, who is receiving disability compensation from the United States Government as a result of illness contracted or injuries sustained while in military service, may, at the option of the Board of Trustees, be required to waive payment of any benefits payable for permanent total disability under Section 200.250 which may be determined by medical examination to be due directly or indirectly to an injury or illness resulting from or growing out of military service of such applicant, but only to the extent of the amount of disability compensation received by him from the United States Government.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §16, 12-7-2015]
Notwithstanding any provision of this Article to the contrary,
effective December 12, 1994, benefit and service credits with respect
to qualified military service will be provided in accordance with
Section 414(u) of the Code.
[CC 1961 §7.14; Ord. No. 2652 §§2 — 3, 5-7-1984; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §17, 12-7-2015]
A.
No person shall be employed as a member of either the Police or Fire
Department unless he shall first undergo a physical examination.
B.
The Board of Trustees, with the consent of the Civil Service Board,
and subject to its approval, may adopt and promulgate rules governing
the age, height, weight and other physical or mental requirements
for the employees of both the Police and Fire Departments.
[CC 1961 §7.15; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §18, 12-7-2015]
Each covered employee shall furnish a statement containing such
information as requested by the Board of Trustees. These statements
shall be checked and verified and, if approved by the Board of Trustees,
shall become a part of the permanent files of the Board. The proper
officials and employees of the City shall cooperate in supplying information
concerning such service records.
[CC 1961 §7.16; Ord. No. 1784 §2(b), 6-15-1970; Ord. No. 2652 §3, 5-7-1984; Ord. No. 2907 §1, 9-21-1987; Ord. No. 3231 §1, 12-21-1992; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §19, 12-7-2015]
A.
There shall be paid to each covered employee found eligible to retire as provided in Section 200.220 hereof from the Retirement Fund herein created, when approved by the Board of Trustees, the following benefits:
1.
To a covered employee retired on account of age and service record as set forth in Section 200.220(A), a monthly benefit equal to fifty percent (50%) of his final average salary plus one percent (1%) of his final average salary for each year of service in excess of twenty (20) years, the total benefit not to exceed fifty-five percent (55%) of his final average salary, which payment will be made monthly during his life. "Final average salary" as used in this Pension Plan means the monthly average earned compensation of a covered employee during his last five (5) years of service. The last five (5) years shall be either the final five (5) calendar years of employment or the final five (5) calendar years of employment including the final partial calendar year, whichever produces the higher average. In both cases, the denominator is five (5).
2.
To a covered employee retired as set forth in Section 200.220(B), a monthly benefit equal to two and one-half percent (2 1/2%) of his final average salary for each year of his service through December 31, 2016, and two percent (2%) of his final average salary for each year of his service on and after January 1, 2017, which payment will be made monthly during his life.
3.
To a covered employee whose employment is terminated, as set forth in Section 200.220(C), the following benefits are payable monthly during his life, beginning at age fifty-five (55), a benefit equal to two and one-half percent (2 1/2%) of his final average salary for each year of his service through December 31, 2016, and two percent (2%) of his final average salary for each year of his service on and after January 1, 2017, not to exceed fifty percent (50%) of his final average salary, plus one percent (1%) of his final average salary for each year of service in excess of twenty (20) years of service, not to exceed five percent (5%) of his final average salary. The total benefit shall not exceed fifty-five percent (55%) of the covered employee's final average salary.
4.
The adjustment discussed in this Subsection (A)(4) does not apply to a covered employee who is actively employed on or after December 21, 1992. For all other covered employees, when a covered employee reaches the age of sixty-five (65), the Board of Trustees shall adjust the benefit payments provided by this Section to the end that the total amount received by such employee hereunder together with fifty percent (50%) of the estimated primary social security benefit for which such employee would be eligible shall not exceed the amount of benefits provided under this Section.
5.
When applicable and in accordance with Subsection (A)(4) above, at the time a covered employee retires, the Board of Trustees shall have an estimate prepared of the social security benefit available to the covered employee based upon the law then in effect and his earnings with the City of Berkeley. These benefits, as determined at that time, shall not be subject to further adjustment because of subsequent changes in the National Social Security Act.
6.
Each covered employee retired under this Section was paid an
annual cost of living increase equal to one half (1/2) of the National
Consumer Price Index (as prepared by the Department of Labor) ending
with the March 2015 CPI-U cost of living increase. The National Consumer
Price Index was determined by comparing the most recent month of March
Consumer Price Index for Urban Consumer (CPI-U) with the prior year's
month of March CPI-U; the March 2015 CPI-U was the last time this
cost of living increase was made. This benefit did not exceed three
percent (3%) in any one year through the March 2015 CPI-U cost of
living increase. Such increases were made as of July 1 of each year
for the preceding twelve (12) months. The cost of living increase
ended with the March 2015 CPI-U increase, which was zero.
[CC 1961 §7.17; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §20, 12-7-2015]
A.
There shall be paid to each covered employee found eligible to retire on account of disability, as provided in Sections 200.240 and 200.250, from the Retirement Fund herein created, or by Workmen's Compensation benefits, or a combination of both, when approved by the Board of Trustees, the following benefits:
1.
To a covered employee retired on account of permanent total disability as set forth in Section 200.240, a basic monthly benefit equal to fifty-five percent (55%) of his final average salary, plus an additional ten percent (10%) of such salary for each unmarried dependent child under age eighteen (18) of such covered employee in his care, but not in excess of three (3) children.
2.
To a covered employee retired on account of permanent total disability as set forth in Section 200.250, a basic monthly benefit equal to thirty percent (30%) of his final average salary, plus an additional ten percent (10%) of such salary for each unmarried dependent child under age eighteen (18) of such covered employee in his care, but not in excess of three (3) children.
3.
Payment to a covered employee retired on account of permanent total disability, as set forth in Sections 200.240 and 200.250, shall be made during such covered employee's permanent total disability; but if his permanent total disability shall cease prior to his death, and prior to the time he shall attain the age of sixty (60) years, then such payment shall cease upon the termination of such permanent total disability. Covered employees receiving permanent total disability benefits shall be required to report to the Board at intervals when requested by the Board, and give full details with reference to their employment or earnings. Any such covered employee failing to make satisfactory reports or found to have knowingly made a false report, shall forfeit all future benefits hereunder.
4.
When a covered employee first becomes eligible to receive benefits
under the National Social Security Act, the Board of Trustees shall
adjust the benefit payments provided by this Section to the end that
the total amount received by such employee hereunder together with
fifty percent (50%) of the estimated primary social security benefit
for which such covered employee would be eligible, as determined below,
shall not exceed the amount of benefits provided under this Section.
5.
At the time a covered employee retires, the Board of Trustees
shall have an estimate prepared of the social security benefit available
to the covered employee based upon the law then in effect and his
earnings with the City of Berkeley. These benefits as determined at
that time shall not be subject to further adjustment because of subsequent
changes in the National Social Security Act.
6.
Each covered employee retired under this Section was paid an
annual cost of living increase equal to one half (1/2) of the National
Consumer Price Index (as prepared by the Department of Labor) ending
with the March 2015 CPI-U cost of living increase. The National Consumer
Price Index was determined by comparing the most recent month of March
Consumer Price Index for Urban Consumer (CPI-U) with the prior year's
month of March CPI-U; the March 2015 CPI-U was the last time this
cost of living increase was made. This benefit did not exceed three
percent (3%) in any one year through the March 2015 CPI-U cost of
living increase. Such increases were made as of July 1 of each year
for the preceding twelve (12) months. The cost of living increase
ended with the March 2015 CPI-U increase, which was zero.
[CC 1961 §7.18; Ord. No. 2413 §1, 6-2-1980; Ord.
No. 2652 §3, 5-7-1984; Ord. No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §21, 12-7-2015]
A.
Upon the death of a covered employee, there shall be paid to his
surviving spouse from the Retirement Fund herein created, or by Workmen's
Compensation benefits or a combination of both, when approved by the
Board of Trustees, the following benefits:
1.
Upon the death of any covered employee, whether active or retired,
there shall be paid a funeral benefit of seven hundred fifty dollars
($750.00).
2.
Upon the death of any covered employee retired under Section 200.300(A) or upon service-connected death, as provided in Section 200.240, there shall be paid to his surviving spouse during her lifetime a monthly benefit of fifty percent (50%) of such deceased covered employee's final average salary.
3.
Upon the death of any covered employee retired under Section
200.300(B), or upon non-service-connected death, as provided in 200.250,
there shall be paid to his surviving spouse during her lifetime a
monthly benefit of twenty-five percent (25%) of such deceased covered
employee's final average salary.
5.
A surviving spouse or other beneficiary's benefits under the National Social Security Act shall be calculated by the Board of Trustees at the same time the covered employee's benefits are calculated pursuant to Section 200.290(A)(4) as in effect prior to December 21, 1992, for covered employees who were actively employed, and the Board of Trustees shall adjust the monthly benefit payments provided by this Section to the end that the total monthly benefits received by such surviving spouse or other beneficiary at the time of eligibility, together with fifty percent (50%) of the calculated primary social security benefits for which such surviving spouse or other beneficiary is eligible (excluding any social security monthly benefits for dependent children), shall not exceed the amount of benefits provided under this Section. After such adjustment benefits are first calculated by the Board, they shall not be subject to further adjustments because of subsequent changes in the National Social Security Act.
6.
Each covered employee retired under this Section was paid an
annual cost of living increase equal to one half (1/2) of the National
Consumer Price Index (as prepared by the Department of Labor) ending
with the March 2015 CPI-U cost of living increase. The National Consumer
Price Index was determined by comparing the most recent month of March
Consumer Price Index for Urban Consumer (CPI-U) with the prior year's
month of March CPI-U; the March 2015 CPI-U was the last time this
cost of living increase was made. This benefit did not exceed three
percent (3%) in any one year through the March 2015 CPI-U cost of
living increase. Such increases were made as of July 1 of each year
for the preceding twelve (12) months. The cost of living increase
ended with the March 2015 CPI-U increase, which was zero.
[CC 1961 §7.19; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §22, 12-7-2015]
If at any time the Retirement Fund herein created shall be insufficient
to pay in full all the benefits herein provided to those at the time
being entitled to such benefits, the amount then on hand and available
for payment of benefits shall be prorated among the beneficiaries
so that all beneficiaries shall receive the same percentage of their
full monthly benefits.
[CC 1961 §7.20; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §23, 12-7-2015; Ord. No. 4688, 9-20-2021]
Application for benefits to be paid from the Retirement Fund shall be made upon forms provided by the Board of Trustees and shall contain full information from which the Board may determine the eligibility of the applicant. If such application be founded upon permanent total disability, both full information concerning the nature and extent of the injury and an opinion of a medical doctor that the applicant meets the definition of permanent and total disability under Section 200.240 must be furnished with the application. In addition, the applicant may be required to submit to examination by one (1) or more medical doctors designated by the Trustees. The Board of Trustees may hold hearings, and take and preserve evidence touching the nature and extent of the injuries upon which such claims are based, and may thereafter approve or deny such application. If denied, the applicant shall have the right to review and appeal, as provided in this Article. If a covered employee's application for retirement is approved, no further compensation for services shall thereafter be paid by the City to such covered employee.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §24, 12-7-2015]
A.
General Rules.
1.
Effective date. The provisions of this Section
will apply for purposes of determining required minimum distributions
for calendar years beginning with the 2003 calendar year.
2.
Precedence. The requirements of this Section
will take precedence over any inconsistent provisions of the Plan.
3.
Requirements of Treasury regulations incorporated. All distributions required under this Section will be determined
and made in accordance with the Treasury Regulations under Section
401(a)(9) of the Internal Revenue Code.
4.
Minimum distribution to covered employees for calendar
years prior to 2003. With respect to distributions under
the Plan made on or after March 30, 2001, for calendar years beginning
on or after January 1, 2001, and prior to January 1, 2003, the Plan
will apply the minimum distribution requirements of Section 401(a)(9)
of the Code in accordance with the regulations under Section 401(a)(9)
that were proposed on January 17, 2001 (the 2001 proposed regulations),
notwithstanding any provision of the Plan to the contrary. If the
total amount of required minimum distributions made to a covered employee
for 2001 prior to March 30, 2001, are equal to or greater than the
amount of required minimum distributions determined under the 2001
proposed regulations, then no additional distributions are required
for such covered employee for 2001 on or after such date. If the total
amount of required minimum distributions made to a covered employee
for 2001 prior to March 30, 2001, are less than the amount determined
under the 2001 proposed regulations, then the amount of required minimum
distributions for 2001 on or after such date will be determined so
that the total amount of required minimum distributions for 2001 is
the amount determined under the 2001 proposed regulations. This amendment
shall continue in effect until the last calendar year beginning before
the effective date of the final regulations under Section 401(a)(9)
or such other date as may be published by the Internal Revenue Service.
B.
Time And Manner Of Distribution.
1.
Required beginning date. The covered employee's
entire interest will be distributed, or begin to be distributed, to
the covered employee no later than the covered employee's required
beginning date.
2.
Death of covered employee before distributions begin.
a.
If the covered employee dies before distributions begin, the
covered employee's entire interest will be distributed, or begin to
be distributed, no later than as follows:
(1)
If the covered employee's surviving spouse is the
covered employee's sole designated beneficiary, then distributions
to the surviving spouse will begin by December 31 of the calendar
year immediately following the calendar year in which the covered
employee died, or by December 31 of the calendar year in which the
covered employee would have attained age 70 1/2, if later.
(2)
If the covered employee's spouse is not the covered
employee's sole designated beneficiary, then distributions to the
designated beneficiary will begin by December 31 of the calendar year
immediately following the calendar year in which the covered employee
died.
(3)
If there is no designated beneficiary as of September
30 of the year following the year of the covered employee's death,
the covered employee's entire interest will be distributed by December
31 of the calendar year containing the fifth anniversary of the covered
employee's death.
(4)
If the covered employee's surviving spouse is the covered employee's sole designated beneficiary and the surviving spouse dies after the covered employee but before distributions to the surviving spouse begin, this Section 200.333(B)(2), other than Section 220.333(B)(2)(a)(1), will apply as if the surviving spouse were the covered employee.
b.
For purposes of this Section 200.333(B)(2), distributions are considered to begin on the covered employee's required beginning date [or, if Section 200.333(B)(2)(a)(4) applies, the date distributions are required to begin to the surviving spouse under Section 200.333(B)(2)(a)(1)].
C.
Determination Of Amount To Be Distributed Each Year.
1.
Amount required to be distributed by required beginning
date. The amount that must be distributed on or before the covered employee's required beginning date [or, if the covered employee dies before distributions begin, the date distributions are required to begin under Section 200.333(B)(2)(a)(1) or (2)] is the payment that is required for one payment interval. The second payment need not be made until the end of the next payment interval even if that payment interval ends in the next calendar year. Payment intervals are the periods for which payments are received, e.g., bimonthly, monthly, semiannually, or annually. All of the covered employee's benefit accruals as of the last day of the first distribution calendar year will be included in the calculation of the amount of the annuity payments for payment intervals ending on or after the covered employee's required beginning date.
2.
Additional accruals after first distribution calendar
year. Any additional benefits accruing to the covered employee
in a calendar year after the first distribution calendar year will
be distributed beginning with the first payment interval ending in
the calendar year immediately following the calendar year in which
such amount accrues.
D.
Requirements For Minimum Distributions Where Covered Employee
Dies Before Date Distributions Begin.
1.
Covered employee survived by designated beneficiary. If the covered employee dies before the date distribution of his or her interest begins and there is a designated beneficiary, the covered employee's entire interest will be distributed, beginning no later than the time described in Section 200.333(B)(2)(a)(1) or (2), over the life of the designated beneficiary or over a period certain not exceeding:
a.
Unless the annuity starting date is before the first distribution
calendar year, the life expectancy of the designated beneficiary determined
using the beneficiary's age as of the beneficiary's birthday in the
calendar year immediately following the calendar year of the covered
employee's death; or
b.
If the annuity starting date is before the first distribution
calendar year, the life expectancy of the designated beneficiary determined
using the beneficiary's age as of the beneficiary's birthday in the
calendar year that contains the annuity starting date.
2.
No designated beneficiary. If the covered employee
dies before the date distributions begin and there is no designated
beneficiary as of September 30 of the year following the year of the
covered employee's death, distribution of the covered employee's entire
interest will be completed by December 31 of the calendar year containing
the fifth anniversary of the covered employee's death.
3.
Death of surviving spouse before distributions to surviving
spouse begin. If the covered employee dies before the date distribution of his or her interest begins, the covered employee's surviving spouse is the covered employee's sole designated beneficiary, and the surviving spouse dies before distributions to the surviving spouse begin, this Section 200.333(D) will apply as if the surviving spouse were the covered employee, except that the time by which distributions must begin will be determined without regard to Section 200.333(B)(2)(a)(1).
E.
DESIGNATED BENEFICIARY
DISTRIBUTION CALENDAR YEAR
LIFE EXPECTANCY
REQUIRED BEGINNING DATE
Definitions. As used in this Article, the following
terms shall have the meanings indicated:
The individual who is designated as the beneficiary by the
covered employee and is the designated beneficiary under Section 401(a)(9)
of the Internal Revenue Code and Section 1.401(a)(9)-1, Q&A-4
of the Treasury Regulations.
A calendar year for which a minimum distribution is required. For distributions beginning before the covered employee's death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the covered employee's required beginning date. For distributions beginning after the covered employee's death, the first distribution calendar year is the calendar year in which distributions are required to begin pursuant to Section 200.333(B)(2).
Life expectancy as computed by use of the Single Life Table
in Section 1.401(a)(9)-9 of the Treasury regulations.
A covered employee's required beginning date is April 1 following
the later of the year in which the covered employee attains age 70
or the year in which the covered employee retires.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §25, 12-7-2015]
As permitted by the 2007 IRS Final Regulations and earlier IRS
guidance, the limitations of Section 415 of the Internal Revenue Code
as interpreted by the 2007 IRS Final Regulations and earlier IRS guidance
including the effective dates provided for in these Regulations and
guidance, Section 301 of the Worker, Retiree, and Employer Recovery
Act of 2008, and any future amendments to the Internal Revenue Code,
IRS Regulations and guidance are incorporated herein. Distributions
and benefit accruals provided by this Pension Plan shall not exceed
the limitations of Code Section 415.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §26, 12-7-2015]
A.
Notwithstanding any provision in this Article to the contrary that
would otherwise limit a distributee's election under this provision,
a distributee may elect, at the time and in the manner prescribed
by the Trustees, to have any portion of an eligible rollover distribution
paid directly to an eligible retirement plan specified by the distributee
in a direct rollover.
B.
Eligible Rollover Distribution.
1.
An "eligible rollover distribution" is any distribution of all
or any portion of the balance to the credit of the distributee, except
that an eligible rollover distribution does not include any distribution
that is one of a series of substantially equal periodic payments (not
less frequently than annually) made for life (or life expectancy)
of the distributee or the joint lives (or joint life expectancies)
of the distributee and the distributee's designated beneficiary, or
for a specified period of ten (10) years or more; any distribution
to the extent such distribution is required under Section 401(a)(9)
of the Code, and the portion of any distribution that is not includable
in gross income.
2.
With respect to distributions made after December 31, 2001, the definition of "eligible rollover distribution" is modified as follows: For purposes of the direct rollover provisions in this Section 200.337, a portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions, which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in Section 408(a) or (b) of the Code, or to a qualified defined contribution plan described in Section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible.
C.
Eligible Retirement Plan.
1.
An "eligible retirement plan" is an individual retirement account
described in Section 408(a) of the Code, an annuity plan described
in Section 403(a) of the Code, or a qualified trust described in Section
401(a) of the Code, that accepts the distributee's eligible rollover
distribution. However, in the case of an eligible rollover distribution
to the surviving spouse, an eligible retirement plan is an individual
retirement account or individual retirement annuity.
2.
With respect to distributions made after December 31, 2001, the definition of "eligible retirement plan" is modified as follows: For purposes of the direct rollover provisions in this Section 200.337, an eligible retirement plan shall also mean an annuity contract described in Section 403(b) of the Code and an eligible plan under Section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Fund. The definition of eligible retirement plan shall also apply in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code.
D.
Distributee. A "distributee" includes a covered
employee or former covered employee. In addition, the covered employee's
or former covered employee's surviving spouse and the covered employee's
or former covered employee's spouse or former spouse who is the alternate
payee under a qualified domestic relations order, as defined in Section
414(p) of the Code, are distributees with regard to the interest of
the spouse or former spouse.
E.
Direct Rollover. A "direct rollover" is a payment
by the Fund to the eligible retirement plan specified by the distributee.
F.
Rollover For A Non-Spouse Beneficiary. Effective
for distributions made after January 1, 2010, a non-spouse beneficiary,
seeking a distribution within the first twelve (12) months after the
death of the participant, is eligible to have a direct rollover made
to an individual retirement account to the extent allowed by law.
Such individual retirement account shall be considered to be an "inherited
IRA."
[CC 1961 §7.21; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §27, 12-7-2015]
The Board of Trustees shall have the right to require every
former covered employee receiving permanent total disability benefits
hereunder prior to attaining age sixty (60) to undergo a physical
examination by the physician or medical board designated by the Board
of Trustees at such times as the Board shall deem necessary. Should
any such examination disclose that the former covered employee is
able to resume employment, the right of such former covered employee
to further benefits hereunder shall terminate, and any such former
covered employee refusing to submit to any such examination shall
receive no further permanent total disability benefits pending his
submission thereto. If such refusal continues for a period of one
(1) year, all rights of such covered employee to retirement or permanent
total disability benefits hereunder shall terminate. In the event
any employee receiving permanent total disability benefits should
subsequently be found to have recovered from such permanent total
disability, then the Board of Trustees shall notify the City Manager
in writing of the fact and that such former covered employee is eligible
to be restored to his former active service.
[CC 1961 §7.22; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §28, 12-7-2015]
A.
If any covered employee shall cease to be an employee of the Departments
and not be eligible for any other benefits, he shall receive a refund
of the aggregate amounts of his contributions earned through December
31, 2016, and two-thirds (66 and 2/3%) of his contributions earned
on and after January 1, 2017.
B.
Upon eligible retirement, the covered employee shall receive a refund
of the aggregate amounts of his contributions earned through December
31, 2016, and two-thirds (66 and 2/3%) of his contributions earned
on and after January 1, 2017.
C.
Upon the death of a covered employee, who has not as of that time
received a refund of his contributions, the refund of the aggregate
amounts of his contributions to the Retirement Fund shall be paid
to his surviving spouse; if he has none, then to his children; if
he has none, then to his designated beneficiary; if he has none, then
to his estate. No beneficiary designation will be recognized unless
it was filed with the Retirement Fund prior to the time of the covered
employee's death in a form which the Trustees find acceptable.
D.
All such payments shall be in one lump sum and without interest,
upon the request of the covered employee, or in cases of death, by
the request of the beneficiary. The Board of Trustees may make the
payment without a request if none is forthcoming.
[CC 1961 §7.23; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 2907 §1, 9-21-1987; Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §29, 12-7-2015]
Any former covered employee who is reinstated in the Police or Fire Department within one (1) year after termination of employment shall be required as a condition of reemployment to deposit the amount of any withdrawal made under Section 200.350 and shall be credited with his years of prior service. If rehiring occurs after one (1) year, such covered employee shall come into the Pension Plan as a new employee without credit for prior service.
[CC 1961 §7.24; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §30, 12-7-2015]
The appropriation set forth in Section 200.180 is the maximum which the Council is authorized to apply for the operation of the Pension Plan herein set forth, but the Council may, in its sole discretion, appropriate a lesser amount upon receipt of a written report of a competent actuary that a lower rate will maintain the Retirement Fund and provide the payment of benefits hereunder.
[CC 1961 §7.25; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §31, 12-7-2015]
If a covered employee or his beneficiary(ies) are entitled to
benefits hereunder and likewise to benefits under the Workmen's Compensation
law as the result of the same injury, the benefits payable under this
Article shall be reduced in the manner prescribed by the Revised Statutes
of Missouri (Section 287.100), and if there is no applicable statute,
then the adjusted benefits as herein defined shall be reduced by the
amount of the similar benefits paid under the Workmen's Compensation
law. The adjusted benefits are the benefits under the Pension Plan
multiplied by the ratio of the City's normal cost to the total contribution
of the City and the covered employee in the preceding fiscal year
as computed by the actuary. The Board of Trustees shall have full
right to apply the provisions of the Pension Plan in such equitable
manner as it determines.
[CC 1961 §7.26; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §32, 12-7-2015]
In no event shall anything in this Article be held or construed
to impose upon the City any duty or liability in excess of the funds
appropriated for the purpose herein specified and the payment thereof
to the Board of Trustees.
[CC 1961 §7.27; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §33, 12-7-2015]
The benefits payable from the Retirement Fund therein provided
shall not be assignable, subject to counterclaim, recoupment or setoff,
nor shall they be subject to assignment, garnishment, sequestration,
execution, injunction, or any other decree, order, process or proceeding
in any court for the payment of any debt of the beneficiary, and the
benefits shall be held and distributed for the purpose of this Article
and for no other purpose whatsoever, provided that the Board of Trustees
is authorized to give effect to divorce decrees which meet the requirements
of Section 206(d) of the Employee Retirement Income Security Act of
1974 as a qualified domestic relations order (QDRO) provided further
that an active or former covered employee and his divorcing spouse
("alternate payee") will be provided the option of electing a pop-up
feature in a QDRO in the event that the divorcing spouse predeceases
the active or former covered employee, the active or former covered
employee benefit will pop up to the original amount which does not
take into account the reduction provided for by the QDRO, and provided
that the active or former covered employee's benefit is reduced to
be the actuarial equivalent of his benefit without taking into account
the pop-up feature of the QDRO. The Board of Trustees is authorized
to adopt necessary procedures to administer QDROs including the issuance
of a model QDRO.
[CC 1961 §7.28; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §34, 12-7-2015]
The Director of Finance shall be custodian of all monies, securities
and other property of the Retirement Fund, subject to the control
and direction of the Board of Trustees. He shall keep separate books
and complete accounts of the Retirement Fund, and his books and records
shall be subject to the inspection of the said Board of Trustees or
any of its members at all times.
[CC 1961 §7.29; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §35, 12-7-2015]
All disbursements of funds from the Retirement Fund shall be
by voucher, stating its purpose and the name of the payee, and after
approval by the Board, such voucher shall be certified by the Chairman
and secretary, authorizing the Director of Finance to draw a check
therefor upon the Retirement Fund for the amount therein specified,
which voucher shall be delivered to the Director of Finance and constitute
his authority for issuing checks therefor. Retirement benefits shall
be approved by the Board upon retirement of each employee and annually
thereafter.
[CC 1961 §7.30; Ord. No. 2652 §3, 5-7-1984; Ord.
No. 4197 §1, 2-16-2015; Ord. No. 4254 §36, 12-7-2015]
Any person who shall knowingly or willfully make any false statement
for the purpose of securing benefits under the terms of this Article,
or shall falsify, cause or permit to be falsified, any record or records
of said Pension Plan in any attempt to defraud, shall be guilty of
a misdemeanor and shall be punishable therefor under the laws of the
State of Missouri, and all his rights, interest and privileges under
and by virtue of this Article shall be forfeited.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §37, 12-7-2015]
Upon the termination of the Retirement Fund or the complete
discontinuance of contributions to the Fund, the rights of all covered
employees to benefits accrued to the date of such termination or discontinuance,
to the extent then funded, are non-forfeitable.
[Ord. No. 4197 §1, 2-16-2015; Ord. No. 4254 §38, 12-7-2015]
All actuarial assumptions under the Pension Plan (other than
for funding purposes) shall use an interest rate of seven percent
(7%) per annum compounded annually and the 1983 Group Annuity Mortality
Table (blended fifty percent (50%) male and fifty percent (50%) female).
Actuarial assumptions for funding purposes shall be as set forth in
the Pension Plan's annual actuarial valuation report.
