HomeMy WebLinkAbout06585ORDINANCE NO. 6585
AN ORDINANCE AMENDING CHAPTER 2 OF TITLE II OF THE
PUEBLO MUNICIPAL CODE RELATING TO THE PUEBLO
FIREMEN'S PENSION FUND AND MODIFYING THE RATE OF
ACCRUAL FOR INCREASED PENSION BENEFITS FOR YEARS
OF SERVICE BEYOND NORMAL RETIREMENT ELIGIBILITY
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: (Brackets indicate matter
being deleted; underscoring indicates new matter being added)
SECTION 1
Section 2 -2 -17 of Chapter 2 of Title II of the Pueblo Municipal Code, as amended, is hereby
amended to read as follows:
Sec. 2 -2 -17. Service beyond normal retirement date.
(a) Notwithstanding any provision of this Chapter to the contrary, the retirement
benefit of fifty percent (50 %) of salary upon reaching eligibility for retirement (at least age
fifty [50] and at least twenty [20] years of active service) shall increase by an additional three
percent (3 %) for each full year of active service after the eligibility date is reached, provided
that the full year of service occurs after January 1, 1994. Additionally, for persons retiring
on or after October 25, 2000, for each partial year of active service after eligibility date is
reached, the retirement benefit shall increase by an additional percentage calculated by
multiplying twenty-five wenty -five one hundredths of one percent (0.25 %) times the number of full
months of active service rendered after eli ig bility date is reached during such uch partial year
active service after eligibility date is reached. In no case shall the total benefit exceed eighty
percent (80 %) of salary.
(b) The rank escalation benefit for retired firefighters shall be calculated using the
percentage of salary due at retirement as determined by Subsection (a) above.
(c) Nothing contained in this Chapter shall allow a firefighter 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 thirty days after final passage and approval; provided,
however, that the modifications of the Pueblo Firemen's Pension Fund set forth in Section 1 of this
Ordinance shall not become effective (a) unless approved by sixty -five percent of the active members
of the Pueblo Firemen's Pension Fund and (b) until the day after the date when the Board of Directors
of the Fire and Pension Association established pursuant to Section 31- 31- 201(1), C.R.S. (Vol. 9,
1999) shall decide to permit such modifications to the Pueblo Firemen's Fund pursuant to §31 -30.5-
210(2), C.R.S. (Vol. 9, 1999); and it is intended to apply only with respect to eligible firefighters who
retire on or after October 25, 2000. 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.
INTRODUCED: September 11, 2000
By Robert Schilli
Councilperson
ATTEST: APP VED:
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City erk President of the City Council
Passed and Approved: September 25, 2000
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