19971209 1997-21ORDINANCE NO. 1997- 21
AN ORDINANCE AMENDING SECTION 17-26,
DIVISION 1, ARTICLE II, OF CHAPTER 17,
SECTION 17-60(b) {1), DIVISION 4,
ARTICLE II OF CHAPTER 17, SECTION 17-
76, DIVISION 5, ARTICLE II OF CHAPTER
17, SECTION 17-151, DIVISION 1, ARTICLE
III OF CHAPTER 17, SECTION 17-181,
DIVISION 4, ARTICLE III OF CHAPTER 17
AND SECTION 17-196, DIVISION 5, ARTICLE
III OF CHAPTER 17, ALL OF THE CODE OF
THE CITY OF FAIRFAX, VIRGINIA
CONCERNING CITY RETIREMENT PLANS.
BE IT ORDAINED by the City Council of the City of
Fairfax, Virginia that Section 17-26 (r), Division 1,
Article II of Chapter 17 of the Code of the City of
Fairfax, is hereby amended by adding a new subsection (r)
to read in its entirety as follows:
Sec. 17-26. Definitions.
(r) Social security full retirement age means the aqe
at which there is no reduction in social security benefits
based upon the followinq table:
Benefits
Year Born
Aqe for Full
1937 or earlier 65 years.
1938 65 yrs, 2 mos.
1939 65 yrs, 4 mos.
1940 65 yrs, 6 mos.
1941 65 yrs, 8 mos.
1942 65 yrs, 10 mos.
1943-1954 66 yrs
1955 66 yrs, 2 mos.
1956 66 yrs, 4 mos.
1957 66 yrs, 6 mos.
1958 66 yrs, 8 mos.
1959 66 yrs, 10 mos.
1960 or later 67 yrs
and by designating existing subsections (r), (s) and (t) to
be hereafter (s), t) and (u), respectively.
BE IT FURTHER ORDAINED by the City Council of the City
of Fairfax, Virginia that Section 17-60(b) (1), Division 4,
Article II, Chapter 17 of the Code of the City of Fairfax,
is hereby amended to read in its entirety as follows:
Sec. 17-60.
Normal retirement allowance.
(b) * * *
(1) Is one-half of one (0.5) per cent of the
participant's average final compensation at his date of
1997-21
retirement, with respect to any allowance payment falling
due on or after the date on which the participant attains
^ ~--~,. ~--~ '~ social security full retirement
thc agc vf .... ~ .... ~v~
agq; or one and one-half (1.5) per cent of the
participant's average final compensation at his date of
retirement, with respect to any allowance payment falling
due prior to the first day of the month in which the
participant attains ~ ~ ^= irc ~o, social
security full retirement aqe; and
BE IT FURTHER ORDAINED by the City Council of the City
of Fairfax, Virginia that Section 17-76, Division 5,
Article II, Chapter 17 of the Code of the City of Fairfax,
is hereby amended as follows:
Sec. 17-76. Riqht to elect optional methods.
The heading for "Option 2" shall hereafter be
"Equating option."
BE IT ORDAINED by the City Council of the City of
Fairfax, Virginia that Section 17-151 (r), Division 1,
Article III, Chapter 17 of the Code of the City of Fairfax,
is hereby amended by adding a new subsection (r) to read in
its entirety as follows:
Sec. 17-151. Definitions.
(r) Social security full retirement aqe means the aqe
at which there is no reduction in social security benefits
based upon the followinq table:
Benefits
Year Born
Aqe for Full
1937 or earlier
1938
1939
1940
1941
1942
1943-1954
1955
1956
1957
1958
1959
1960 or later
65 years
65 yrs, 2 mos.
65 yrs, 4 mos.
65 yrs, 6 mos.
65 yrs, 8 mos.
65 yrs, 10 mos.
66 yrs
66 yrs, 2 mos.
66 yrs, 4 mos.
66 yrs, 6 mos.
66 yrs, 8 mos.
66 yrs, 10 mos.
67 yrs
and by designating existing subsections (r), (s) and (t) to
be hereafter (s), (t) and (u), respectively.
1997-21
BE IT FURTHER ORDAINED by the City Council of the City
of Fairfax, Virginia that Sections 17-181 (a) (1), (a) (2),
(b) (2) and (b) (3), Division 4, Article III, Chapter 17 of
the Code of the City of Fairfax, are hereby amended to read
as follows:
Sec. 17-181.
Normal retirement allowance.
(a) * * *
(1) With respect to any allowance payment
fal ng due before the partic ant's .... ~ .............. ~
social security full retirement age, the sum of (A) and (B)
below, where
(A) Is two (2) per cent of the
participant's average final compensation at his date of
retirement, multiplied by his number of years of credited
service at such date, not in excess of thirty (30) such
years; and
(B) Is one-half of one (0.5) per cent of
such average final compensation, multiplied by such
credited service, not in excess of twenty (20) such years.
(2) With respect to any allowance payment
ip -~--~-- ~
falling due on or after the partic ant's .... ~ ......
........ ~ social security full retirement aqe, the sum of
(B) above and (C) below, where
(C) Is one-half of one (0.5) per cent of
such average final compensation, multiplied by such
credited service, not in excess of thirty (30) such years.
(b) * * *
(1) * * *
(2) With respect to any allowance payment
falling due on or after the participant's fifty-fifth
birthday but before the partic ant's ..... ~ .............. ~
social security full retirement aqe, one and one-half (1.5)
per cent of such average final compensation, multiplied by
such credited service.
(3) With respect to any allowance payment
falling due on or after the participant's -~ ..... ~
........ ~ social security full retirement age, one-half of
one (0.5) per cent of such average final compensation
multiplied by such credited service.
BE IT FURTHER ORDAINED by the City Council of the City
of Fairfax, Virginia that Sections 17-196, Division 5,
Article III, Chapter 17 of the Code of the City of Fairfax,
is hereby amended as follows:
Sec. 17-196. Riqht to elect optional methods.
The heading for "Option 2" shall hereafter be
"Equating option."
1997-21
This ordinance shall become effective as provided by
law.
INTRODUCED: November 25, 1997
PUBLIC HEARING: December 9, .1997
ENACTED: December 9, 1997
T. Coughlan
J. Greenfield
J. Lyman
S. Mershon
G. Rasmussen
S. Silverthorne
Vote
Aye
Aye
Aye
Aye
Aye
Aye
ATTEST:
I v~ ~City Clerk
DATE