3.28.2120 - Benefits incentive.
Any provision of this chapter to the contrary notwithstanding, for the purpose of determining the amount of the monthly retirement allowance under Section 3.28.1110.C., 3.28.1120.B., or 3.28.1130.B., a member who retires for service pursuant to Section 3.28.2110 shall be entitled to credit for federated city service, in addition to the federated city service credit described in Section 3.28.610.B, subsections 1 through 6 which was earned by such member as of the date of retirement, as follows:
A. A member who is at least fifty-five years of age and is entitled to credit for at least fifteen years of federated city service shall receive credit for one additional full year of federated city service.
B. Except as provided in subsection D., a member who is at least fifty-two years of age but less than fifty-five years of age and who is entitled to credit for at least fifteen years of federated city service shall receive credit for one additional full year of federated city service for each year between such member's age on the date of retirement and fifty-five years, calculated as follows:
Age | Additional Service Credit
At least 52, but less than 53 | 3 years
At least 53, but less than 54 | 2 years
At least 54, but less than 55 | 1 year
C. Except as provided in subsection D., a member who is entitled to credit for at least twenty-seven years but less than thirty years of federated city service and is less than fifty-five years of age shall receive one additional full year of federated city service credit for each year between the number of years of earned service credit on the date of retirement and thirty years, calculated as follows:
Age | Additional Service Credit
At least 27, but less than 28 | 3 years
At least 28, but less than 29 | 2 years
At least 29, but less than 30 | 1 year
D. A member who is at least fifty-two years of age but less than fifty-five years of age and who is entitled to credit for at least twenty-seven years but less than thirty years of federated city service shall receive credit for additional federated city service as described in subsection B. or C., whichever is less.
E. Any other provision herein notwithstanding, in no event shall the member's monthly retirement allowance exceed a maximum of seventy-five percent of the member's final compensation.
(Ord. 22573.)
