HomeMy WebLinkAbout06024ORDINANCE NO. 6024
AN ORDINANCE AMENDING CHAPTER 2 OF TITLE II OF
THE 1971 CODE OF ORDINANCES RELATING TO THE
PUEBLO FIREMENS PENSION FUND INCREASING PENSION
BENEFITS FOR YEARS OF SERVICE BEYOND NORMAL
RETIREMENT DATE
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
Chapter 2 of Title II of the 1971 Code of Ordinances is hereby amended by the addition of
the following new Section 2 -2 -17:
2 -2 -17: SERVICE BEYOND NORMAL RETIREMENT DATE
(a� Notwithstanding any provision of this Chapter to the contrary, the retirement
benefit of 50% of salary upon reaching eligibility for retirement (at least age 50 and at least
20 years of active servicel shall increase by an additional three (3) percent for each full year
of active service after the eligibility date is reached, provided the full year of service occurs
after January 1, 1994. In no case shall the total benefit exceed eighty (80) percent of salary
W The rank escalation benefit for retired fire fighters shall be calculated using
the percentage of salary due at retirement as determined by subsection (a) above.
�c) Nothing contained in this Chanter shall allow a fire fighter to receive pension
benefits in excess of those allowed by the Internal Revenue Code for qualified pension plans.
SECTION 2
This Ordinance shall become effective on November 8, 1995 if a majority of the qualified
electors at the general municipal election to be held November 7, 1995 voting on the initiated
ordinance amending the Pueblo Firemen's Pension Fund by the addition of Section 2 -2 -17 thereto
shall vote against the initiated ordinance; provided, however, that the modifications of the Pueblo
Firemen's Pension Fund set forth in Section 1 of this Ordinance shall not become effective until the
first of the month following the Fire and Police Pension Association Board of Directors' decision
to permit such modifications to the Pueblo Firemen's Fund pursuant to §31- 30- 1005(6) C.R.S. or
January 1, 1996, whichever is later. For such purpose, on its effective date, this Ordinance shall
constitute and be construed to be a request by the City to so modify the Pueblo Firemen's Pension
Fund.
ATTEST:
City Cler
INTRODUCED: October 10, 1995
By Charles Jones
Councilperson
APPROVED:
President of the City Council
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