HomeMy Public PortalAbout03559REPEALED BY #3827 - 7/25/79 O R D I N A N C E NO. 3559
AN ORDINANCE, repealing Ordinance No. 1679, as adopted
October 30, 1967, and amended by Ordinance No. 1936, as adopted
August 15, 1969, Ordinance No. 1984, as adopted January 2, 1970,
Ordinance No. 2206, as adopted August 11, 1971, Ordinance No.
2621, as adopted July 31, 1974, and Ordinance No. 3111, as adopted
July 28, 1976, and enacting a new ordinance in lieu thereof on the
same subject, establishing a retirement system to provide for the
pensioning and other retirement benefits of employees of The
Metropolitan St. Louis Sewer District, and the widows and minor
children of deceased employees, and providing for the payment of
public funds for such purpose in pursuance of the Missouri
Constitution 1945 as amended, and the Plan of The Metropolitan St.
Louis Sewer District, without, however, altering or extinguishing
the legal relationships established by such ordinances; with an
emergency clause.
BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
METROPOLITAN ST. LOUIS SEWER DISTRICT:
Section One. Ordinance No. 1679, as adopted October
30, 1967, and amended by Ordinance No. 1936, as adopted August 15,
1969, Ordinance No. 1984, as adopted January 2, 1970, Ordinance
No. 2206, as adopted August 11, 1971, Ordinance No. 2621, as
adopted July 31, 1974, and Ordinance No. 3111, as adopted July 28,
1976, is hereby repealed, without, however, altering or
extinguishing the legal relationships established by such
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ordinances.
Section Two. There is hereby established a Pension
Plan to provide for the pensioning and other retirement benefits
of employees of The Metropolitan St. Louis Sewer District and the
widows and minor children of deceased employees, and providing for
the payment of public funds for such purpose, in pursuance of the
Missouri Constitution 1945, as amended, and the Missouri Statute
enacted authorizing said Pension Plan, and the Plan of The
Metropolitan St. Louis Sewer District. Said Pension Plan shall
read as follows:
ARTICLE I
DEFINITIONS
The following words and phrases, when used hereafter in
this document, shall have the meanings set forth below:
Section 1.1. "Pension Plan" means The Metropolitan St.
Louis Sewer District Employees' Pension Plan, effective as of
November 1, 1967, as set forth herein and as it may be amended
from time to time.
Section 1.2. "District" means The Metropolitan St.
Louis Sewer District.
Section 1.3. "Board" means the Board of Trustees of
the District.
Section 1.4. "Trustee" means any corporation, person
or persons who may be designated by the Board from time to time to
hold, invest, reinvest and disburse, in accordance with the terms
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of a trust agreement, contributions toward the cost of the Pension
Plan and the income therefrom.
Section 1.5. "Trust" means any trust agreement made and
entered into by the District with a Trustee or Trustees or any
corresponding document with any successor Trustee or Trustees.
Section 1.6. "Carrier" means any insurance company
selected by the Board at any time to hold certain contributions
towards the cost of the Pension Plan, or to provide certain
benefits specified by the Pension Plan, under one or more group
annuity contracts.
Section 1.7. "Employee" means any employee who is
employed by the District on a regular, full-time permanent basis
and who has been appointed to a position in the classified service
in accordance with Civil Service Rules and has successfully
completed his probationary period, and the Executive Director,
Assistant Executive Director and General Counsel, Secretary-
Treasurer, Director of Finance, Director of Wastewater-Treatment,
Personnel Director, Director of Engineering, Director of
Maintenance, Assistant Executive Director, Director of Legal
Services, and Technical Adviser to the Executive Director, but
shall not include technical personnel employed on special
occasions, or those who may be employed in an advisory capacity.
Any person customarily employed by the District for at least 20
hours a week and 5 months a year shall be deemed to be employed on
a regular full-time permanent basis, provided however, that no
individual shall be considered on a full-time, permanent basis
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until he has worked with the District for six months.
Section 1.8. "Member" means any Employee or former
Employee of the District who is covered under the Pension Plan in
accordance with Article II hereof.
Section 1.9. "Continuous Service" means the period of
time between an Employee's date of most recent employment as shown
on the records of the District and the date to which such
Continuous Service is being determined. Continuous Service shall
not be interrupted by an authorized leave of absence, military
service (provided the Employee retains re-employment rights under
Federal or other laws), or any other absence which does not
constitute a termination of employment under the District's Civil
Service rules and regulations. The provisions of this Section 1.9
shall be administered by the District on the basis of uniform non-
discriminatory rules.
Section 1.10. "Credited Service" means that portion of
an Employee's Continuous Service which is actually credited under
the Pension Plan with respect to the determination of benefits
thereunder.
Section 1.11. "Plan Year" means the period beginning
on November 1, 1967 and ending on December 31, 1967. Thereafter,
Plan Year means any twelve-month period beginning on any January 1
and terminating on the following December 31.
Section 1.12. "Earnings" means the total base
compensation paid to a Member by the District during the Plan Year
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(after the first plan Year, this is the calendar year) excluding
bonuses, overtime, and any other additional forms of compensation,
and all compensation after his Normal Retirement Date.
Section 1.13. "Past Service Earnings" means the
Member's annualized base rate of pay on November 6, 1967. In the
case of a Member who is paid biweekly this will be 26 times his
biweekly rate on that date. In the case of a Member who is paid
semimonthly this will be 24 times his semimonthly rate on that
date.
Section 1.14. "Beneficiary" means any person designated
to receive certain benefits payable hereunder on or after a
Member's death.
Section 1.15. "Retirement Date" means the first day as
of which a retirement benefit is payable to a Member in accordance
with this Pension Plan, and may be either a Normal Retirement
Date, an Early Retirement Date, or a Postponed Retirement Date, as
set forth in Article IV.
Section 1.16. "Accrued Retirement Benefit", when used
with respect to an individual Member, as of any specified date,
means the sum of the Retirement Benefits, as set forth in Article
V, payable to him commencing at his Normal Retirement Date based
on his Credited Service and Earnings to the specified date.
Section 1.17. "Committee" means the Pension Committee
described in Article XI.
Section 1.18. Masculine pronouns used in this Pension
Plan shall be understood to refer to persons of either sex.
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Section 1.19. "Pension Fund" means the total fund
derived from the District appropriations, from any property given
or donated from any source, and the income derived therefrom.
Section 1.20. "Social Security Wage Base" means, with
respect to any Plan year, the maximum amount of earnings which may
be considered wages for such year under Section 3121 (a) (1) of
the Internal Revenue Code.
ARTICLE II
ELIGIBILITY AND PARTICIPATION
Section 2.1. Eligibility - Any individual employed by
the District who becomes an Employee as defined in Section 1.7 of
this Plan shall be eligible to participate hereunder and shall so
participate as a condition of his employment.
Section 2.2. Participation - Each Employee shall
become a Member under this Pension Plan and shall participate in
the Pension Plan commencing with the first day of the pay period
coincident with or next following the date he became an Employee.
In the month before such Employee becomes a Member he shall where
possible complete a beneficiary designation form.
Section 2.3. Loss of Credited Service - Credited
Service shall not be granted for months during which a Member is
on authorized leave of absence without pay. Periods for which
service is not credited shall be deducted from the Member's
Credited Service as determined under Section 1.10 but not from his
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Continuous Service as determined under Section 1.9.
Section 2.4. Termination of Participation - Each
Member shall remain a Member until the earlier of his death or
termination of employment from the District. He shall continue to
be a Member even though he ceases to be an Employee so long as he
continues in the employ of the District. He will receive service
credit only during such periods of his membership as he qualifies
as an Employee. A Member on military leave shall not for purposes
of this Pension Plan be terminated from the employ of the District
so long as he retains re-employment rights under Federal or other
laws but shall be so terminated for purposes of this Pension Plan
if he fails to return to the employ of the District within the
required period established by such laws. A former Member who is
re-employed by the District must again fulfill the conditions of
this Article II before again becoming a Member of the Pension
Plan.
ARTICLE III
CONTRIBUTIONS
Section 3.1. District Contributions - The District
will from time to time contribute to the Pension Plan such sums as
are considered necessary by the District, on the basis of
actuarial calculations, to carry out the purposes of the Pension
Plan.
Section 3.2. Disposition of Contributions - District
contributions to the Pension Plan shall be placed in a Trust Fund
or Funds held by a Trustee or Trustees, or shall be held by a
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Carrier or Carriers under a group annuity contract or contracts,
or shall be placed in part in a Trust Fund or Funds and in part in
a group annuity contract or contracts.
ARTICLE IV
RETIREMENT DATES
Section 4.1. Normal Retirement Date - A Member shall
be normally retired from the service of the District and begin to
receive a monthly retirement benefit as of his Normal Retirement
Date, which is the first day of the month coinciding with or next
following his 65th birthday, or May 1, 1968 if later.
Section 4.2. Early Retirement Date - A Member
terminating employment with the District both after attaining his
55th birthday and after completing ten years of Continuous Service
may elect to receive monthly retirement benefits commencing at an
Early Retirement Date which may be the first day of any month
coincident with or subsequent to the Member's date of termination
of employment, but not prior to May 1, 1968.
Section 4.3. Postponed Retirement Date - A Member may
at the request of the District, and with the consent of the Board,
remain in service after his Normal Retirement Date. In such
event, he will have a Postponed Retirement Date which will be the
first day of the month coincident with or next following his last
day of active service.
ARTICLE V
RETIREMENT BENEFITS
Section 5.1. At Normal Retirement Date - The annual
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retirement benefit payable to a Member who retires on his Normal
Retirement Date shall be equal to the sum of his past service
benefit, if any, and his future service benefit, each determined
as follows:
(A) Past Service Benefit
The annual past service benefit of a Member who becomes a Member
on the Effective Date shall be the sum of (1) and (2), where
(1) and (2) are as follows:
(1)The sum of 3/4% of the Member's Past Service Earnings
which are not in excess of $4,800.00 plus 1-1/2% of
such Past Service Earnings which are in excess of
$4,800.00 multiplied by his years of Credited Service
after attaining age 22 (in this case only, Credited
Service is defined as Continuous Service with the
District since date of hire) on November 1, 1967,
determined to completed twelfths, plus
(2)If the Member attained or will attain his 50th birthday on
or prior to December 31, 1967, 1/2% of his Past Service
Earnings multiplied by the years and completed twelfths
of a year from January 1 of the calendar year in which
he attained his 50th birthday, or his date of hire if
later, up to October 31, 1967.
(B) Future Service Benefit
The annual future service benefit of a Member accrued during each
Plan Year shall be equal to the sum of (i), (ii), and (iii)
below:
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(i)1% of the Member's Earnings for the Plan Year, plus
(ii)1% of the Member's Earnings for the Plan Year which are
in excess of the Social Security Wage Base in effect on
January 1 of such year, plus
(iii)1/2% of the Member's Earnings for the Plan Year if during
the Plan Year, or during a previous year, he attained
his 50th birthday (or if his 50th birthday is on or
before December 31, 1967, for the year in which the
Effective Date occurs and for each year thereafter).
Section 5.2. At Early Retirement Date - The annual
retirement benefit payable to a Member who retires on an Early
Retirement Date shall be equal to his Accrued Retirement Benefit
on his Early Retirement Date, or the date of his termination of
service, if earlier, reduced by 5/12 of 1% for each month by which
such Member's Early Retirement Date precedes his Normal Retirement
Date before age 60, and reduced by 5/24 of 1% for each month by
which such Member's Early Retirement Date precedes his Normal
Retirement Date after age 60.
Section 5.3. At Postponed Retirement Date. The annual
retirement benefit payable to a Member who retires on a Postponed
Retirement Date, shall be equal in amount to that payable on his
Normal Retirement Date. In addition he shall receive a special
annual retirement benefit commencing on his Postponed Retirement
Date which shall be the actuarial equivalent of the lump sum value
of those monthly benefit payments, which he would have received
prior to his Postponed Retirement Date had he retired on his
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Normal Retirement Date, accumulated at an annual rate of interest
equal to 4% from the dates such payments would have been made up
to his Postponed Retirement Date.
ARTICLE VI
PAYMENTS OF RETIREMENT BENEFITS -
OPTIONS
Section 6.1. Regular Basis - The retirement benefits
provided for in Article V hereof, whether payable commencing at
Normal, Early or Postponed Retirement Date, shall be payable in
monthly installments each equal to one-twelfth of the annual
amount to which a Member is entitled and shall terminate with the
monthly payment coinciding with or next preceding the date of
death of the Member except as provided in Article VII hereof.
Section 6.2. Optional Basis - In lieu of the regular
retirement benefit payable as hereinabove set forth, a Member may
elect one of the following options, subject to the limitations set
forth herein:
(A)Life Annuity Option - A Member may, in lieu of the
retirement benefit specified in Article V and the Death
Benefit specified in Section 7.1, elect an increased
amount of monthly benefit of equal actuarial value
payable monthly for his lifetime with the provisions
that no benefits will be payable after the Member's
death. This election may be made at any time prior to
the Member's Retirement Date and such election may be
revoked by the Member at any time prior to his
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Retirement Date.
(B)Beneficiary Forms - A Member may, in lieu of the
retirement benefit specified in Article V and the Death
Benefit specified in Section 7.1, elect, under the
circumstances set forth in (C) and (D) below, a reduced
amount of retirement benefit of equal actuarial value
under one of the following forms:
(1)Ten Year-Certain Option - Under this option the reduced
retirement benefit will be payable until the Member's
death and, if such death occurs within ten years of his
Retirement Date, will be continued to his Beneficiary
until a total of one hundred and twenty monthly
installments have been paid. If no Beneficiary
survives to receive all such installments, the commuted
value of the unpaid installments will be paid to the
estate of the last to die of the Member or the
Beneficiary.
(2)Contingent Annuitant Option - Under this option the
reduced retirement benefit will be payable until the
Member's death and, if his Contingent Annuitant, who
shall be designated by the Member on a form furnished
by the Committee, survives him, will be continued in
its full or lesser amount, as elected by the Member, to
the Contingent Annuitant until his death. In no event
may this option become effective if the Contingent
Annuitant is other than the spouse of the Member and if
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the election of such option would result in the
benefits payable to the Member having an actuarial
value less than 50% of the Member's normal benefit.
(C)Option Date - An option elected under the circumstances
set forth below becomes effective at the earlier of the
Member's Retirement Date or his Normal Retirement Date
which date is referred to as the Option Date.
(D)Timely Election - The options stated in (B) must be
elected on a form satisfactory to the Committee prior
to the Member's Option Date, and if not elected at
least one year before his Option Date, the Member must
furnish evidence of his good health satisfactory to the
Committee for the election to be valid. A Member may
not elect the Contingent Annuitant Option if the
monthly payments to his Contingent Annuitant would be
less than $10 a month.
(E)Change of Revocation - An election made under (B) may not
be validly changed or revoked except as follows: (1)
Any change may be made by the Member if he files with
the Committee a written request therefor at least one
year before his Option Date.
(2) Any change may be made at any time before his Option
Date by mutual agreement in writing between the Member
and the Committee.
(3) A Beneficiary under the Ten-Year-Certain Option may be
changed by written request of the Member at any time
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before or after retirement.
(4) If the Contingent Annuitant designated under the
Contingent Annuitant Option dies before the Member's
Option Date, his election shall be considered as
automatically void.
(5) If the Member dies before his Option Date, any election
made under this Section 6.2 shall be void.
(6) If the Member dies after his Option Date but before his
Retirement Date, any election made under (B) will be in
effect and payments will commence to the designated
Beneficiary or Contingent Annuitant, if any, as though
the Member had retired the day before his death.
(F)Social Security Option - A Member who retires and whose
retirement benefits hereunder are to commence prior to
age 62 may elect to have the retirement benefit to
which he is entitled paid on an actuarially adjusted
basis so as to be larger for the months prior to and
smaller for the months after age 62, the age at which
he may begin to receive primary benefits under the
federal Social Security Act. In the event of such
election by a Member, the amount of his monthly
retirement benefit payments hereunder until age 62
shall be as nearly practicable equal to the amount of
his monthly retirement benefits hereunder plus the
monthly amount of such primary benefits estimated to
become payable to him after such age. The retirement
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benefit payments under this option shall be payable
during the Member's lifetime and continuing to the
first day of the month in which the Member's death
occurs. The election of this option shall be made by
written notice to the committee prior to the Member's
Early Retirement Date.
Section 6.3. Small Benefits - Regardless of the other
provisions of this Pension Plan, if the monthly benefit payable to
a Member or to his Beneficiary is less than $10.00, the actuarial
equivalent of all future benefits with respect such Member may be
paid at any time in a single lump sum or in such other manner as
may be agreed upon by the Committee.
Section 6.4. Source of Benefit Payments - All benefit
payments specified by this Plan will be made from a Trust or by a
Carrier.
ARTICLE VII
DEATH BENEFITS
Section 7.1. Death After Retirement
(A)At the death of a Member, who has not made an election in
accordance with Article VI, on or after the earlier of
his Retirement Date or Normal Retirement Date but
before having received 60 monthly pension payments, the
balance of such 60 monthly pension payments shall
thereafter become payable to his Beneficiary. If an
option elected under Article VI has become effective on
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his Retirement Date or Normal Retirement Date, no death
benefits will be payable under this Section 7.1 (A) but
benefits will be payable in accordance with the option
which is in effect.
(B)At the death of a Member who has retired from the service
of the District after having completed at least ten
years of Continuous Service at his Normal Retirement
Date, or Early Retirement Date if applicable, a lump
sum payment in the amount of $1,000.00 shall be payable
to his Beneficiary. If the Member had completed less
than ten years of Continuous Service upon retirement,
the $1,000.00 payment shall be reduced in the ratio
that his actual years of Continuous Service completed
prior to attainment of age sixty-five years to 10.
This lump sum benefit shall be in addition to any other
benefits which might be payable under this Plan and
shall only be payable to persons who retire from the
service of the District under the provisions of Article
V on or after August 1, 1974, and whose Normal
Retirement Date occurs on or after August 1, 1974, or
to persons who are terminated from the service of the
District after attainment of age fifty-five and are
eligible for vested benefits under Article X. This
benefit shall not be payable to persons receiving
benefits in accordance with the provisions of Article
VIII or Article IX.
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Section 7.2. Designation of a Beneficiary - Each
Member shall, at the time he becomes a Member, designate his
Beneficiary specifically by name on a form provided by the
District through the Committee. Any such designation, whether
original or subsequent, may be revoked and changed from time to
time, upon such form and in such manner as may be provided by the
Committee without the consent of any Beneficiary. Only one person
my be designated to be Beneficiary of such Member at any one time,
and each such designation shall be contingent upon the named
Beneficiary surviving the Member, except that by and with the
consent of the Committee more than one Beneficiary may be
designated by any Member, and such shares, terms and conditions as
may be acceptable to the Committee shall be specified. If no
Beneficiary has been designated or if the designated Beneficiary
does not survive the Member, then any benefits otherwise payable
to the Beneficiary shall at the option of the Committee be paid to
the estate of the Member or to one or more of the following: (1)
widow or widower, (2) children, (3) parents, (4) brothers and
sisters, (5) executors or administrators.
ARTICLE VIII
WIDOWS' BENEFIT
Section 8.1. Eligibility for Benefit - The surviving
widow or dependent widower, such dependency being recognized only
if recognized for purposes of Social Security benefits, of any
qualified Member shall be eligible for a Widow's Benefit
commencing on the first day of the month next following the date
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of the Member's death. The Member shall be qualified if he met
all of the following requirements on the date of his death.
(A)Member had completed at least 10 years of continuous
service;
(B) Member had attained his 40th birthday;
(C)Member had been married to his spouse for at least one
year;
(D)Member had not attained his Normal Retirement Date.
(E)Member was an active Employee or a Member receiving or
eligible to receive Disability Benefits in accordance
with Article IX on that date.
Section 8.2. Amount and Duration of Benefits - The
monthly amount of the widow's or dependent widower's benefit
payable to an eligible widow or dependent widower shall be equal
to 50% of one-twelfth of the Member's Accrued Retirement Benefit
determined as of the date of his death, or $50, if greater. Such
widow's or dependent widower's benefit shall be payable monthly to
such eligible widow or dependent widower with the final monthly
payment made on the earlier of (a) the first day of the month
immediately preceding or coinciding with the date of the widows or
dependent widower's death or (b) the first of the month
immediately preceding the date of the widow's or dependent
widower's remarriage.
ARTICLE IX
DISABILITY BENEFITS
Section 9.1. Eligibility for and Amount of Benefit - A
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member who has attained age 40, has at least 10 years of
Continuous Service on becoming disabled (as defined in Section
9.2) and qualifies for disability benefits under the Federal
Social Security Act shall become entitled to a monthly Disability
Benefit in the amount of one-twelfth of his Accrued Retirement
Benefit as of the date of his termination of employment on account
of such disability, hereinafter referred to as the Disability
Date.
Section 9.2. Disability Defined - A Member shall be
deemed to be disabled for purposes of the Pension Plan only if
through unavoidable cause (a) he has been disabled by illness or
injury so as to be incapable of carrying on the duties of any
occupation, (b) such disability shall have continued for a period
of at least six consecutive months, and (c) such disability shall
be determined by a qualified physician selected by the District as
being, in his opinion, permanent. Such disability shall be deemed
to have resulted from an unavoidable cause unless (a) it was con-
tracted, suffered or incurred while the Member was engaged in, or
it resulted from his having engaged in, a felony; or (b) it
resulted from his habitual use of drugs, intoxicants, or
narcotics; or (c) it resulted from a deliberately self-inflicted
injury or self-induced sickness; or (d) it resulted from injury
received or disease contracted in service in the Armed Forces.
Section 9.3. Payment of Disability Benefit - Payment
of the Disability Benefit shall begin on the first day of the
month coinciding with or next following a date six months after
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the Member's Disability Date and shall continue until the Member
attains his Normal Retirement Date or until the Committee
determines that the Member is no longer disabled.
Section 9.1. Administration of Disability Benefits -
The Committee shall interpret and administer the provisions of
this Article IX in a uniform manner so as to preclude any
individual selection or discrimination. Any Member who is
determined by the Committee to be disabled may be required by the
Committee to submit to a medical examination by a physician or
clinic selected by the Committee at any time during the Member's
period of disability prior to age 65, but not more often than
semi-annually to determine whether such disabled Member is
eligible for the continuation of his Disability Benefit payments.
If, on the basis of any medical examination or other fact from
any and all sources, it is found that such disabled Member is no
longer disabled in accordance with Section 9.2, his Disability
Benefit payments shall thereupon cease. In the event a disabled
Member refuses to submit to a medical examination, the Committee
shall suspend Disability Benefit payments until such Member
submits to a medical examination. Section 9.5. Re-
employment of a Member - In the event of re-employment of a Member
who has been disabled and has been receiving Disability Benefit
payments under this Article IX, such Member's period of absence
while disabled shall be considered as service with the District
for all purposes of the Pension Plan, his Continuous Service shall
be unbroken, and he shall resume active participation in the
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Pension Plan as of his date of re-employment. The provisions of
the Pension Plan shall thereafter relate to such Member as though
he had not been absent on disability, except that retirement
benefits shall not be earned or credited for such period of
absence.
Section 9.6. Retirement on Normal Retirement Date -
The Disability Benefit payments to a disabled Member shall, in all
cases in which such benefits have not been terminated prior to age
65, cease at such age. A disabled Member reaching age 65 will
then be retired on his Normal Retirement Date and commence
receiving regular retirement benefits on such date in accordance
with Article V based on his earnings and service to his Disability
Date.
Section 9.7. Termination of Disability Prior to Age 65
If the Disability Benefit payments of a Member are terminated
prior to age 65 and the Member does not return to the employ of
the District as in Section 9.5, the Member's rights to further
benefits under the Pension Plan will be determined in accordance
with Article IV, Article VI, and Article X, as may be appropriate,
as though he had severed his employment with the District as of
the date he ceased to be eligible to receive Disability Benefit
payments.
ARTICLE X
BENEFITS ON TERMINATION OF EMPLOYMENT PRIOR TO
RETIREMENT
Section 10.1. Vested Termination - A Member terminated
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from the service of the District other than by death, retirement,
or disability, on or after the completion of 10 or more years of
Continuous Service shall be entitled to a vested retirement
benefit beginning on his regular Normal Retirement Date, in the
amount of his Accrued Retirement Benefit at his termination date,
or on an Early Retirement Date, in a reduced amount. The first
monthly payment of any retirement benefits to which a Member is
entitled under this Section 10.1, shall be payable as of the later
of (a) the Member's elected Retirement Date (providing application
is made therefor not earlier than 90 days prior to such date) or
(b) the first day of the month next following the date in which
the application is received by the Committee.
ARTICLE XI
ADMINISTRATION OF THE PENSION PLAN - THE PENSION
COMMITTEE
Section 11.1. The Pension Plan shall be administered
by a Committee herein called the "Pension Committee". The Pension
Committee shall have the responsibility to interpret this
ordinance and its provisions with respect to any benefit or claim
for benefit hereunder, including but not limited to the
determination of Credited Service, Past Service Earnings,
Earnings, Eligibility and Termination of Membership with respect
to any Member of the Pension Plan, or his Beneficiary.
Section 11.2. The Pension Committee shall consist of
eight members; One member, appointed by the Chairman of the Board,
shall be a City of St. Louis member of the Board of Trustees of
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the District. One member, appointed by the Chairman of the Board,
shall be a St. Louis County member of the Board of Trustees of the
District, and four members shall be the Executive Director, the
Secretary-Treasurer, Assistant Executive Director and General
Counsel, the Director of Finance, all of the District; and the
other two members shall be members of the Pension Plan, and also
employees of the classified service of the District, and shall be
elected by and from the membership of the Pension Plan, and shall
hold office only while members of the Pension Plan. The first
elected members shall be elected within sixty days following
November 1, 1967. The one member elected for a term expiring
October 31, 1968, and one member elected for a term expiring
October 31, 1969. The terms thereafter shall be for two years
each commencing November 1 of the respective year. Within ten
days after the approval of this Ordinance, the Board shall proceed
with such actions as are necessary to provide for the election of
the members from the classified service of the District. If a
vacancy occurs among the elected member of the Pension Committee,
the vacancy shall be filled for the unexpired term in the same
manner as the office was previously filled. The Personnel
Director of the District shall serve as Secretary of the Committee
and shall be an ex-officio member thereof, without the power to
vote. The Committee shall elect its own Chairman and Vice
Chairman and shall delegate to them their respective duties.
Section 11.3. The Pension Committee may adopt such
rules governing its action, and recommend the employment of
24
agents, attorneys, actuaries and clerical assistants as it may
deem necessary, with approval of the Board. The Board shall have
the power to change from time to time all rules, regulations and
actuarial procedures and tables required in the administration of
the Pension plan as recommended by the Pension Committee.
Section 11.4. The decision of the Pension Committee
upon matters within its jurisdiction shall be conclusive and
binding upon all parties concerned. Decisions by the Pension
Committee shall be consistent in order to avoid any prohibited
discrimination during the operation of the Pension Plan. Any
Employee or Beneficiary aggrieved by any decision of the Pension
Committee may appeal its decision to the Board.
Section 11.5. The Pension Committee shall authorize
the Trustee or the Carrier to make all payments necessary in order
to carry out the provisions of the pension Plan.
Section 11.6. The Board and the Pension Committee
shall be entitled to rely upon all tables, valuations,
certificates and reports furnished by an actuary selected by the
Board, upon all certificates and reports made by an accountant so
selected, and upon all opinions given by any legal counsel so
selected, and the Board and the Pension Committee shall be fully
protected in respect of any action taken or suffered in good faith
in reliance upon any actuary, accountant or counsel, and all
action so taken or suffered shall be conclusive upon each of them
and upon all Members and their Beneficiaries and Contingent
Annuitants, if any.
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ARTICLE XII
MANAGEMENT, INVESTMENT AND USE OF FUNDS
Section 12.1. There is hereby created The Metropolitan
St. Louis Sewer District Employees Pension Fund, hereinafter
referred to as the "Pension Fund".
The Pension Fund shall be derived from District
appropriations, and from income derived therefrom, and from any
property given or donated to it from any source.
Section 12.2. The Board shall select the manner of
funding the Pension Plan, whether by insurance or annuity
contracts, trust agreement, or any other means, and shall have
authority to select or change any Carrier, Trustee or depository
with which said contracts or trust agreement shall be entered into
and with which monies of the Pension Fund shall be held, managed
and invested.
Section 12.3. No part of the corpus or income of the
Pension Fund or of any trust maintained pursuant to this pension
Plan or any funds contributed thereto shall be used or diverted,
by any means, to any purpose other than to benefit Members,
retired Members, or their Beneficiaries.
Section 12.1. The Board shall select custodian of all
books, records, accounts and other property of the Pension Fund
established pursuant to this Pension Plan, subject to the control
and direction of the Board. He shall keep separate books and
complete accounts of the Pension Fund, and his books and records
shall be subject to the inspection of the Board or any of its
26
members at all times, and be it further provided that the
custodian of all books, records, accounts and other property of
the Pension Fund established pursuant to this Pension Plan shall
be bonded in an amount to be determined by the Board.
Section 12.5. The District may rely upon the estimates
made by an actuary selected by it of the amount of contributions
needed to carry out the Pension Plan. Neither the District, the
Actuary, the Trustee, or Trustees, nor the Carrier or Carriers
shall be liable in any manner if the Trust Fund or Trust Funds,
and/or the amounts paid to Carrier or Carriers, shall prove insuf-
ficient to provide for the payment of such Pension benefits. Such
benefits are to be payable only to the extent that such Funds, or
amounts, or both shall suffice therefor.
ARTICLE XIII
AMENDMENT OR TERMINATION OF THE PENSION PLAN
Section 13.1. The District reserves the right at any
time to modify or amend or terminate the Pension Plan in whole or
in part, provided, however, that the District shall have no power
to modify or amend the Pension Plan in such manner as would cause
or permit any funds held by the Trustee or the Carrier hereunder
to be used for, or diverted to, purposes other than for the
exclusive benefit of Members or their Beneficiaries, or as would
cause or permit any portion of such funds or assets to become the
property of the District until all liabilities pursuant to the
Pension Plan are satisfied; and provided further, that the duties
or liabilities of the Trustee and/or the Carrier shall not be
27
increased without their written consent. No such modification or
amendment shall have the effect of retroactively changing or
depriving Members or Beneficiaries of rights already accrued under
the Pension Plan.
Section 13.2. If the Pension Plan is terminated, or if
the District discontinues making contributions hereunder, the
funds held by the Trustee and the Carrier hereunder shall be used,
subject to the payment of administrative expenses, for the benefit
of Members and Beneficiaries, and for no other purpose, until all
remaining liabilities to them for benefits accrued under the
Pension Plan to the date of termination have been satisfied, such
liabilities being determined as though all Members on the
termination date had fully completed the vesting requirements of
Section 10.1. In the event that such funds and assets are
insufficient to satisfy such liabilities in full, they shall then
be used in the following order:
Class I - First, for the satisfaction of all remaining
liabilities with respect to retired Members.
Class II - Then for the satisfaction of such
liabilities with respect to each unretired Member as may be met by
application of his Accumulated Contributions, if not previously
refunded.
Class III - Then, towards the satisfaction of any
remaining liabilities with respect to Members who had fulfilled
the requirements of Section 10.1 prior to the Pension Plan
termination date, giving preference to those Members with the
28
earliest birth dates.
Class IV - Finally, on a pro rata basis toward the
satisfaction of the remaining liabilities with respect to other
Members.
Section 13.3. In the satisfaction of liabilities at
termination date in accordance with Section 13.2, funds in the
hands of the Trustee or Trustees and/or Carrier or Carriers
hereunder shall be applied, subject to the payment of
administrative expenses, at the discretion of the District through
the purchase of guaranteed annuities, lump-sum payments,
installment payments or in any other manner which will in a
consistent and non-discriminatory manner carry out the intent of
Section 13.2.
Section 13.4. The Pension Plan shall be considered
terminated as of the first of the following dates:
(a) The date as of which the District loses its
present legal identity by means of dissolution, merger,
consolidation, or otherwise, unless within 90 days of such date a
successor has agreed to accept the responsibilities of the
District hereunder;
(b) Any other date specified in a notice executed and
delivered at least 60 days in advance of such date by the District
to the Trustee or Trustees and/or Carrier or Carriers.
Section 13.5. The Trust and/or the insurance contract
executed pursuant to this Pension Plan are intended to qualify the
Pension Plan as a tax-exempt pension trust pursuant to the
29
provisions of Section 101 (a) of the Internal Revenue Code, as now
or hereafter amended. In the event that the District is unable to
secure a determination letter from the Internal Revenue Service
qualifying the Pension Plan as a tax-exempt pension trust then,
anything in Sections 13.1 - 13.4 and other portions of this
Pension Plan to the contrary notwithstanding, the District may
terminate the Pension Plan and Trust, and all contributions
previously made thereto by the District shall be returned to the
District; all contributions made by any Member under the Pension
Plan shall be returned to such Member, if not previously returned.
ARTICLE XIV
PROVISIONS TO PREVENT DISCRIMINATION
SectIon 14.1. (A) If the Pension Plan is terminated or
the full current costs thereof are not met at any time prior to
November 1, 1977 (or, if the full current costs are not met on
November 1, 1977 if the Pension Plan is terminated thereafter but
prior to the date the full current costs are met) the amount of
the District contributions (or funds attributable thereto) to be
used for the benefit of any Member entered on the list of the
twenty-five highest-paid Employees as of November 1, 1967, filed
with the Internal Revenue Service in accordance with the
requirements of Regulation Section 1.404(a) - 2(a) (3), whose
annual benefit provided by such contribution will exceed $1,500
shall not exceed the larger of the following amounts:
(1) $20,000;
(2)An amount computed by multiplying 20% of the first
30
$50,000 of the Member's average annual
compensation during the five years preceding the
date of calculation by the number of years after
November 1, 1967;
(3)Such larger amount as may be permitted under the
relevant laws and regulations at the time.
(B) If a Member described in this Section 14.1 leaves
the employ of the District when the full current costs have not
been met, the benefits he may receive from such District
contributions shall not, at any time, prior to November 1, 1977,
exceed the benefits set forth in (A) herein.
(C) These conditions shall not restrict the full
payment of any death or survivor's benefit on behalf of a Member
who dies while the plan is in full effect and its full current
costs have been met.
(D) The foregoing shall not restrict the current
payment of full retirement benefits called for by the Pension Plan
for any retired Member while the Pension Plan is in full effect
and its full current costs have been met.
(E) In the event of termination of the Pension Plan
prior to November 1, 1977 distribution to the unretired Member
other than the Members described in this Section 14.1 shall
include an equitable apportionment among such other Members of all
excess benefits provided by the District contributions for the
Members described in this Section 14.1 in the following manner:
To each such other Member in the ratio that the reserve liability
31
then attributable to him bears to the total reserve liability for
all such other Members under the Pension Plan.
Section 14.2. The restrictions imposed by the
provisions of this Article XIV are included solely to meet the
requirements of the Internal Revenue Service as stated in current
regulations. In the event that it should be determined by
statute, a court decision, ruling by the Commissioner of Internal
Revenue, or otherwise, that the provisions of this Article XIV are
no longer necessary to qualify the pension plan under the Internal
Revenue Code, this Article XIV shall become inoperative without
the necessity of further amendment.
ARTICLE XV
LIMITATIONS ON RIGHTS OF EMPLOYEES AND CREDITORS
Section 15.1. Participation in the Pension Plan shall
not give any Employee any right or claim to a retirement benefit,
except upon reaching his Retirement Date hereunder, and no
Employee, Member, or Beneficiary shall be entitled to any right or
claim to a retirement benefit, except to the extent that such
right is specifically fixed under the terms of the Pension Plan
and the assets of the Pension Plan are sufficient therefor. The
establishment of the pension Plan shall not be construed as giving
any Employee or Member a right to be continued in the employ of
the District, or as interfering with the right of the District to
terminate the employment of any Employee or Member at any time.
Section 15.2. No benefit, which shall be payable under
the Pension Plan to any person, shall be subject in any manner to
32
anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, or charge, and any attempt to anticipate, alienate,
sell, transfer, assign, pledge, encumber, or charge the same shall
be void; and no such benefit shall in any manner be liable for, or
subject to, the debts, contracts, liabilities, engagements, or
torts of any such person nor shall it be subject to attachment or
legal process for, or against, such person, and the same shall not
be recognized under the Pension Plan, except to such an extent as
may be required by law.
Section 15.3. If any person who shall be entitled to
any benefit under the Pension Plan shall become bankrupt or
attempt to anticipate, alienate, sell, transfer, assign, pledge,
encumber, or charge such benefit under the Pension Plan then such
benefit shall, in the discretion of the District, cease and
terminate, and in that event the Trustee or Carrier shall hold or
apply the same for the benefit of such person, his spouse,
children, other dependents or any of them in such manner and in
such proportion as the District shall determine.
ARTICLE XVI
MISCELLANEOUS PROVISIONS
Section 16.1. Facility of Payment - If the District in
good faith believes that (a) a person entitled to receive any pay-
ment under the Pension Plan is physically or mentally incompetent
to receive such payment and to give a valid release therefor, and
(b) another person or an institution is then maintaining or has
custody of such person, and no guardian, committee, or other
33
representative of the estate of such person has been duly
appointed by a court of competent jurisdiction, the payment may be
made, to such other person or institution referred to in (b)
above, and the release of such other person or institution shall
be a valid and complete discharge for the payment.
Section 16.2. Notice of Address - Each person entitled
to benefits under the Pension Plan must file with the District, in
writing his post office address and each change of post office
address. Any communication, statement, or notice addressed to
such person at his latest post office address as filed with the
District will be binding upon such person for all purposes of the
Pension plan, and neither the Trustee, the Carrier, nor the
District shall be obliged to search for or to ascertain the
whereabouts of any such person. If the District notifies any such
person that he is entitled to benefits under the Pension Plan and
also notifies him of the provisions of this subsection, and if
such person fails to collect his benefits or make his whereabouts
known to the District within two years after any benefits
hereunder shall become payable, such person shall lose all
benefits under the Pension Plan, provided however, that the Board
may reinstate all benefits under the Pension Plan.
Section 16.3. Data - Each person entitled to benefits
under the Pension Plan must furnish to the District such
documents, evidence or other information as the District considers
necessary or desirable for the purpose of administering the
Pension Plan or to protect the Pension Plan, the Trustees, or the
34
Carriers; and it shall be a condition of the Pension Plan that
each such person must furnish such information promptly and sign
such documents as the District may require before any benefits
become payable under the Pension Plan. If the age or any other
relevant fact with respect to any Member, or any other person
entitled to receive benefits under the Pension Plan has been
misstated, appropriate offsetting adjustments shall be made in
future benefits.
Section Three. All Members of the Pension Plan who are
Employees of the District On July 31, 1978 shall receive a refund
of One Hundred Percent (100%) of their accumulated contributions
to the Pension Fund.
Section Four. It is hereby declared to be the
intention of the Board of Trustees that the sections, paragraphs,
sentences, clauses and phrases of this ordinance are severable,
and if any phrase, clause, sentence, paragraph or section of this
ordinance shall be declared invalid or unconstitutional by the
valid judgment or decree of any court of competent jurisdiction,
such invalidity or unconstitutionality shall not affect any of the
remaining phrases, clauses, sentences, paragraphs and sections of
this ordinance, since the same would have been enacted by the
Board of Trustees without the incorporation in this ordinance of
any such invalid or unconstitutional phrase, clause, sentence,
paragraph or section.
Section Five. The passage of this ordinance being
deemed necessary for the immediate preservation of the public
35
health, safety and welfare creates an emergency within the meaning
of the Plan. Accordingly, this ordinance shall take effect
immediately upon its enactment. The foregoing Ordinance was adopted July 26, 1978.