Pensions

Pensions

• Details the payment of pensions to employees who have held office for a period of 25 years or more, or to the surviving spouse or dependents thereof.
• Pension plans include: Classified Employees Retirement Fund, Firefighters Pension Trust Fund, Police Pension Trust Fund, and the Custodians and Mechanics Retirement Fund.
• Describes the powers and duties of the trustees to be the custodian of the assets of the funds.

retirement

• Details retirement payments in the following instances: disability, after twenty years of service, computation of service, retirement at age 65, and death after ten years of service.

classified employees' retirement fund

• To benefit all full-time employees of the City who are members of the Classified Service, except for members of the Fire and Police Departments and school custodians 
• Beneficiaries become members after one month after date of employment.