§ 22-1 — Preamble

Sec. 22-1. - Preamble.

(a) The Richmond Retirement System, established by Ordinance No. 52-192-178, as amended, was restated and amended by Ordinance No. 90-357-325 and has been subsequently amended by various ordinances adopted by the City Council from time to time. (b) By Ordinance No. 2002-150-167, the City Council amends and restates the retirement chapter generally effective June 10, 2002. Certain provisions have retroactive effective dates as indicated in the text in order to comply with Federal tax laws. The purpose of the amendment and restatement is to ensure compliance with Federal tax laws and to streamline the administration of the benefits provided under this chapter. (c) The adoption of Ordinance No. 2002-150-167 shall neither alter nor modify any retirement allowance awarded any member prior to July 1, 2002, nor shall it modify or alter any option which may have been elected by any member prior to June 10, 2002, whether such option pertains to early retirement, deferred retirement or survivor's benefits. This chapter shall apply to all retirement allowances or other benefits awarded pursuant to the death or retirement of a member on or after June 10, 2002, unless specifically stated. Nothing in this amendment and restatement of the retirement chapter shall decrease creditable service or creditable compensation under the terms of the chapter as it existed prior to its amendment and restatement. In addition, the benefits of any member who has no service on or after the date of this restatement of the chapter shall neither be increased nor decreased as a result of the restatement.

(Code 1993, § 23.1-1; Code 2004, § 78-1; Code 2015, § 22-1; Code 2020, § 22-1)