HomeMy Public PortalAbout018-2001 - Fixes Certain Benefits Benefits under the Police Pension Fund ORDINANCE NO.18 - 2001
A SPECIAL ORDINANCE FIXING CERTAIN BENEFITS UNDER THE
POLICEMAN PENSION FUND FOR THE CITY OF RICHMOND
WHEREAS, pursuant to I.C. 36-8-6-10.1, certain benefits are required to be paid to surviving spouses of members of the 1925 Police Pension Fund;
WHEREAS, pursuant to the above statute, such retirement monthly amounts are to be fixed by City ordinance, but to a surviving spouse be not less that the greater of 30% of the monthly
pay of a first class patrolman or 55% of the monthly benefit the deceased member was receiving or was entitled to receive on the date of the member’s death; and
WHEREAS, the Board of Trustees for the City of Richmond Police Pension has recommended the percentages set forth herein for payments to surviving spouses.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, as follows:
1. Pursuant to I.C. 36-8-6-10.1, the monthly payment to a surviving spouse of a deceased police officer who was a member of the 1925 Police Pension Fund shall be equal to 50%
of the monthly pay of a first class patrolman plus 1% of the monthly pay of a first class patrolman for each six (6) months of service of the deceased member. However, the monthly
payment to a surviving spouse may not exceed 74% of the monthly pay of a first class patrolman.
2. This Ordinance shall take effect January 1, 2002.
Passed and adopted this day of 2001, by the Common Council of the City of Richmond, Indiana.
s/s Karl Sharp, President
(Karl Sharp)
Attest: s/s Norma Schroeder, City Clerk
(Norma Schroeder)
PRESENTED to the Mayor of the City of Richmond, Indiana, this day of, 2001,
at 9:00 a.m.
s/s Norma Schroeder, City Clerk
(Norma Schroeder)
APPROVED by me, Shelley D. Miller, Mayor of the City of Richmond, Indiana, this day of, 2001, at 9:05 a.m.
s/s Shelley D. Miller, Mayor
(Shelley D. Miller)
ATTEST: s/s Norma Schroeder, City Clerk
(Norma Schroeder)