Early or voluntary retirement.
New Orleans City Code § 114-137
in effectSec. 114-137. - Early or voluntary retirement.
A. A member shall be eligible for early or voluntary retirement as provided herein if all of the following conditions are satisfied:
1. Such member's retirement date is no earlier than October 19, 2020 and no later than December 31, 2020.
2. Such member separates from service no later than the designated retirement date and such member does not return to eligible full-time employment.
3. Such member irrevocably waives participation in DROP.
4. Such member purchases creditable service by the conversion of all accumulated sick leave.
5. Such member agrees to the waiver of certain claims in the form and at the time prescribed by the trustees.
B. A member who elects early retirement shall further satisfy the following:
1. Such member shall be credited with at least 15 years of creditable service as the member's designated retirement date, including creditable service purchased by the conversion of annual or sick leave; and
2. Such member shall have accumulated at least 70 points as of the designated retirement date, determined as the sum of the member's attained age and creditable service as of such date.
C. A member who elects voluntary retirement shall further be eligible for normal retirement (as defined in section 114-125) as of the member's designated retirement date.
D. The retirement allowance of a member who satisfies the conditions set forth herein and timely elects early retirement shall not be subject to reduction for early payment under section 114-128, regardless of the age of such member.
E. A member who satisfies the conditions set forth herein and timely elects voluntary retirement shall receive:
1. A 1% increase in the base amount of the annual retirement allowance payable as of such member's retirement date, to be prorated and paid monthly, such increase (a) to be made annually commencing as of January 1, 2022 and (b) to be made during the life of the member and any annuitant.
2. A payment in the amount of $50.00 for each full year of employment, but not less than $1,000.00, which amount shall be paid (a) annually during the ten-year period commencing as of January 1, 2022 and (b) to such member's beneficiary, beneficiaries or annuitant if such member dies prior to the payment of all such amounts.
F. A member who satisfies the conditions for voluntary retirement hereunder but has not yet attained age 62 may elect either early or voluntary retirement; there shall be no duplication of benefits hereunder.
(M.C.S., Ord. No. 28530, § 4, 10-15-20)
Source: City of New Orleans, Code of Ordinances and Home Rule Charter (Municode Library, library.municode.com)URL: https://library.municode.com/la/new_orleans/codes/code_of_ordinances?nodeId=PTIICO_CH114PE_ARTIIIRESY_DIV5REBE_S114-137EAVOREFetched: 10/28/2026