2464 Municipal Charters
earnings shall include any salary, wages, commissions or fees but not
including income from investments or savings for which he is contrib-
uting neither time nor talent. It will be expected that these documents
will be made available to the Personnel Officer during the month of Jan-
uary but, in the event of delay, consideration will be given to the con-
tinued payment of disability pension through April 15 and that any ad-
justments will be absorbed in the payments expected to be paid during
the balance of such calendar year.
(g) The annual amount of disability pension payable to each eligible
participant shall be determined as follows:
(1) If the participant is deemed to be totally and permanently dis-
abled under Section 1-222 (a), the annual amount of his disability pen-
sion shall be equal to (i) minus (ii) where:
(1) is the annual amount of his accrued normal retirement pension
as of his date of disability computed in accordance with Section 1-221
(a) or twenty-five percent (25%) of his final earnings, whichever is greater,
and
(ii) is the amount of earnings, if any, received by the employee
during the year in a gainful occupation, to the extent that such earnings
exceed the current annual earnings of an employee similarly classified.
(2) If the participant is deemed to be totally and permanently dis-
abled under Section 1-222 (b) the annual amount of his disability pension
shall be equal to sixty-six and two thirds per cent (66 ⅔%) of his final
earnings.
Section 1-223.
(a) If an employee's service with the County terminates before his
retirement date and after he has completed ten (10) years of service
or, if he is an appointed or elected official, he has completed five (5)
years of service, he may elect either:
(1) to be paid his participant's contributions with credited interest,
thus ceasing to be a participant; or
(2) to receive a retirement pension, beginning on the first (1st)
of the month coinciding with or next following his sixtieth (60th) birth-
day, which will be provided in the following manner:
(i) he will elect to leave his participant's contributions in the fund
of the retirement plan;
(ii) he will receive a vested ownership in a percentage of the amount
of his normal retirement pension which has accrued to his date of ter-
mination. This percentage of vesting will be based on his years of service
under the following schedule:
|
Completed Years of
|
|
Completed Years of
|
Service (Employees
|
Percentage of Vesting
|
Service (Elected or
|
other than Elected or
|
in Normal Retirement
|
Appointed Officials)
|
Appointed Officials)
|
Pension
|
5
|
10
|
75%
|
6
|
11
|
80%
|
7
|
12
|
85%
|
8
|
13
|
90%
|
9
|
14
|
95%
|
10
|
15
|
100%
|
|