Subject: 9839/Charter/13.75/F&P Pension
Date: Mon, 27 Feb 1989 12:20:00 -0500


                              ORDINANCE NO.   9839 
                  
                  
                   AN ORDINANCE TO INCREASE THE PENSION
                   BENEFITS UNDER THE FIREMEN'S AND POLICEMEN'S
                   INSURANCE AND PENSION FUND AS PROVIDED BY
                   ORDINANCE NO. 8688, SECTION 1 (10), NOW
                   CODIFIED AS SECTION 13.75 OF THE CHATTANOOGA
                   CITY CODE, PART I.
                  
                  
                                                    
                  
                  
       	    	 WHEREAS, Ordinance No. 8688, encaptioned "AN ORDINANCE
       TO AMEND THE CHARTER OF THE CITY OF CHATTANOOGA, AND ALL ACTS
       AMENDATORY THEREOF, PURSUANT TO THE PROVISIONS OF ARTICLE 11,
       SECTION 9, CONSTITUTION OF TENNESSEE, RELATIVE TO IMPROVEMENTS IN 

       THE GENERAL PENSION PLAN AND THE FIREMEN'S AND POLICEMEN'S
       INSURANCE AND PENSION PLAN," adopted August 19, 1986 and approved 

       by referendum on November 4, 1986, Section 1 (10), now codified 
as
       Section 13.75 of the Chattanooga City Code, Part I, provides that 

       "[t]he Board of Commissioners of the City of Chattanooga, in its
       discretion, only after a recommendation has been received by the
       Board of Directors of the Firemen's and Policemen's Insurance and 

       Pension Fund, may, by ordinance passed on three (3) separate
       readings, increase such pension benefits in this section or any
       section of the Private Acts of 1949, Chapter 165, as amended;
       provided that such increase is not inconsistent with sound
       actuarial principles, methods and actuarial assumptions."
                                NOW, THEREFORE,
0C
       	    	 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
       CHATTANOOGA, TENNESSEE:
       	    	 SECTION 1.  That the pension benefits provided by
       Section 13.75(a), Chattanooga City Code, Part I, as amended, be
       and are hereby increased "from sixty percent (60%) of the average 

       base salary of a member of the police department who receives the 

       maximum salary in the salary range and step of Private in the
       police department classification as set forth in the
       classification of positions in the police department during the
       three (3) years of the member's service which yield the highest
       average; plus two percent (2%) of the aforesaid salary, for each
       year in excess of twenty five (25) years he or she was in the
       active service of such department not to exceed five (5) years,"
       to "sixty percent (60%) of the average base salary of a member of 

       the police department who receives the maximum salary in the
       salary range and step of Sergeant in the police department
       classification as set forth in the classification of positions in 

       the police department during the three (3) years of the member's
       service which yield the highest average; plus two percent (2%) of 

       the aforesaid salary, for each year in excess of twenty five (25) 

       years he or she was in the active service of such department not
       to exceed five (5) years."  In the event of change of the name of 

       said classification of Sergeant in the police department, it 
shall
       be that position by whatever name it may hereafter be called.
       	    	 SECTION 2.  That notwithstanding the definition of the
       term "Maximum Salary" in Section 13.83(4), as amended, which
       states:  "The term 'Maximum Pension' shall mean a pension equal 
to
       sixty percent (60%) of the average base salary of a member of the 

       Chattanooga Police Department who receives the maximum salary in
       the salary range and step to Private in the police department
       classification as set forth in the classification of positions in 

       the police department during the three (3) years of the member's
       service which yield the highest average.  ...," the benefits are
       increased by providing that "The term 'Maximum Pension' shall 
mean
       a pension equal to sixty percent (60%) of the average base salary 

       of a member of the Chattanooga Police Department who receives the 

       maximum salary in the salary range and step to Sergeant in the
       police department classification as set forth in the
       classification of positions in the police department during the
       three (3) years of the member's service which yield the highest
       average."  In the event of change of the name of said
       classification of Sergeant in the police department, it shall 
mean
       that position by whatever name it may hereafter be called.
       	    	 SECTION 3.  That the pension benefits provided by
       Section 13.79(2), Chattanooga City Code, Part I, as amended, be
       and are hereby increased from "2.4% of his or her average monthly 

       salary of such member of the police department who receives the
       maximum salary in the salary range and step of the grade of
       Private in the police department classification as set forth in
       the classification of positions" to "2.4% of the monthly salary 
of
       such member of the police department who receives the maximum
       salary in the salary range and step of the grade of Sergeant in
       the police department classification as set forth in the
       classification of positions."
       	    	 SECTION 4.  The increased pension benefits herein
       provided shall be for eligible members of the Firemen's and
       Policemen's Insurance and Pension Fund who retire on or after 
July
       1, 1993.
       	    	 SECTION 5.  That this ordinance shall be effective two
       (2) weeks from and after its passage as provided by law.
      
       PASSED on Third and Final
       Reading February 9, 1993.     
s/s_________________________________
       	    	      	   	     	         CHAIRPERSON
      
       	    	      	   	     APPROVED:______ DISAPPROVED: _______
      
       	    	      	   	     DATE:________________ _______, 1993.
      
      
       	    	      	   	     s/s_________________________________
       MAM:cjc	      	   	     	       	    MAYOR