Subject: 10463/Charter/F&P-GenPensionAmendments Date: Wed, 27 May 1992 07:45:00 -0500 ORDINANCE NO. 10463 AN ORDINANCE TO AMEND THE CHARTER OF THE CITY OF CHATTANOOGA, AND ALL ACTS, ORDINANCES, AND OTHER CHARTER PROVISIONS AMENDATORY THEREOF, PURSUANT TO THE PROVISIONS OF ARTICLE XI, SECTION 9, OF THE CONSTITUTION OF THE STATE OF TENNESSEE, RELATIVE TO IMPROVEMENTS IN THE FIREMEN'S AND POLICEMEN'S INSURANCE AND PENSION FUND AND IN THE GENERAL PENSION PLAN. SECTION 1. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHATTANOOGA, TENNESSEE, that the present Charter of said City, and all amendments thereto, be and is further amended as follows: Item 1. The Charter of the City of Chattanooga shall be amended as provided hereinafter. Item 2. That Private Acts 1949, Chapter 165, Section 4, as amended, relating to the Firemen's and Policemen's Insurance and Pension Fund, be amended by deleting in paragraph one (1) all of that Section which follows the words "which shall be not less than eight per cent (8%) of each member's actual salary" and substituting in lieu thereof the following: "... but not to exceed the designated percentage as set by the Board of Directors, of the maximum base salary in the salary range and step of the grade of sergeant in the police department. In the event of the change of the name of said classification it shall be that position by whatever name it may hereafter be called." 0C Item 3. That Private Acts 1949, Chapter 165, as amended, relating to the Firemen's and Policemen's Insurance and Pension Fund, be amended by adding to Item 9 of Ordinance No. 9778 after the paragraph captioned "OPTION D: Modified Joint & Survivor Option" the following: OPTION E: Modification of Option B A decreased retirement benefit, subject to an actuarial reduction, payable to the retired participant for life shall continue after his or her death to their surviving beneficiary at 100% of that payable to the retired participant provided, that if such designated beneficiary shall predecease the retired participant, the retirement benefit payable to the participant after death of the designated beneficiary, shall be equal to the retirement benefit, which would have been payable had the member not elected an option. OPTION F: Modification of Option C A decreased retirement benefit, subject to an actuarial reduction, payable to the retired participant for life shall continue after his or her death to their surviving beneficiary at 75% of that payable to the retired participant provided, that if such designated beneficiary shall predecease the retired participant, the retirement benefit payable to the participant after death of the designated beneficiary, shall be equal to the retirement benefit, which would have been payable had the member not elected an option. OPTION G: Modification of Option D A decreased retirement benefit, subject to an actuarial reduction, payable to the retired participant for life shall continue after his or her death to their surviving beneficiary at 50% of that payable to the retired participant provided, that if such designated beneficiary shall predecease the retired participant, the retirement benefit payable to the participant after death of the designated beneficiary, shall be equal to the retirement benefit, which would have been payable had the member not elected an option. 0C Item 4. That Private Acts 1949, Chapter 165, as amended, relating to the Firemen's and Policemen's Insurance and Pension Fund, be amended by adding to Item 9 of Ordinance No. 9778 a new paragraph 4 as follows: 4. In the event of a divorce of a member who retired under an optional retirement plan, where the spouse is the designated beneficiary, the beneficiary may be cancelled upon the written request of the member and proper documentation, which shall include the final decree and marital dissolution agreement of the parties; provided, that such cancellation is not in conflict with the decree or marital dissolution agreement. The retirement allowance payable to the retiree after the cancellation of the designated beneficiary shall not be affected by such cancellation. Item 5. That Private Acts 1965, Chapter 254, as amended, be amended by adding to Private Acts 1965, Chapter 254, Section 3(6.03) as amended by Ordinance No. 8688, relating to the General Pension Plan, Section 1(2)(d) after the paragraph captioned "OPTION C: MODIFIED JOINT AND SURVIVOR OPTION" the following: OPTION D: MODIFICATION OF OPTION B. A decreased retirement benefit, subject to an actuarial reduction, payable to the retired participant for life which shall continue after his or her death to their surviving beneficiary in the same amount as that payable to the retired participant provided, that if such designated beneficiary shall predecease the retired participant, the retirement benefit payable to the participant after death of the designated beneficiary, shall be equal to the retirement benefit, which would have been payable had the participant not elected an option. OPTION E: MODIFICATION OF OPTION C. A decreased retirement benefit, subject to an actuarial reduction, payable to the retired participant for life fifty (50) percent (or some other percent that is less than one hundred (100) percent) of which shall continue after his or her death to their surviving beneficiary for life. Provided, that if such designated beneficiary shall predecease the retired participant, the retirement benefit payable to the participant after death of the designated beneficiary, shall be equal to the retirement benefit, which would have been payable had the participant not elected an option. Item 6. That Private Acts 1965, Chapter 254, as amended, be amended by adding to Private Acts 1965, Chapter 254, Section 3(6.03), relating to the General Pension Plan, as amended by Ordinance No. 8688, Section 1(2)(d) a new paragraph (3) as follows: (3) In the event of a divorce of a participant who retired under an optional retirement plan, where the spouse is the designated beneficiary, the beneficiary may be cancelled upon the written request of the member and proper documentation, which shall include the final decree and marital dissolution agreement of the parties; provided, that such cancellation is not in conflict with the decree or marital dissolution agreement. The retirement allowance payable to the retiree after the cancellation of the designated beneficiary shall not be affected by such cancellation. FOR THE AMENDMENTS { } AGAINST THE AMENDMENTS { } SECTION 2. BE IT FURTHER ORDAINED, that all laws constituting the present Charter of the City of Chattanooga, not in conflict with this amendatory home rule ordinance, be and the same are continued in full force and effect, and all laws or parts of laws in conflict therewith are hereby repealed. 0C SECTION 3. BE IT FURTHER ORDAINED, that if any clause, sentence, paragraph, section, or part of this ordinance shall be held to be unconstitutional or void, it shall not affect the remaining parts of this Ordinance, it being hereby declared to be the legislative intent to have passed the remainder of this Ordinance notwithstanding such part, if any, as may be held to be invalid. SECTION 4. BE IT FURTHER ORDAINED, that this Ordinance shall be published in full by the Clerk of the City Council in both daily newspapers in the City of Chattanooga after the passage thereof on third and final reading. SECTION 5. BE IT FURTHER ORDAINED, that the Clerk of the City Council shall certify the passage of this Ordinance to the Hamilton County Election Commission and request that the proposed amendment to the home rule Charter of the City of Chattanooga, Tennessee, be placed on the ballot to be used in the general state election to be held on or about November 5, 1996. SECTION 6. BE IT FURTHER ORDAINED, that the City Finance Officer is authorized and directed to pay the pro rata cost of this special City election. SECTION 7. BE IT FURTHER ORDAINED, that the Hamilton County Election Commission shall certify to the Clerk of the City Council the City of Chattanooga, Tennessee, the result of said election, and the said Clerk shall cause said certification to be made a part of the minutes of the City Council. 0C SECTION 8. BE IT FURTHER ORDAINED, that Section 1 of this Ordinance shall take effect sixty (60) days after its approval by a majority of the qualified voters of the City voting thereon, as provided by Article XI, Section 9, Constitution of Tennessee, the public welfare requiring it. SECTION 9. BE IT FURTHER ORDAINED, that this Ordinance shall take effect, except for Section 1, two weeks from and after its passage as provided by law. PASSED on Third and Final Reading August 20, 1996. _________________s/s________________ CHAIRPERSON APPROVED:__x___ DISAPPROVED:_______ DATE: August 20, 1996. _______________s/s _______________ MAYOR MAM/RLN:cjc