§ 54-46. Definitions.

The following words, terms and phrases, when used in this article, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Account means the individual account of a member consisting of contributions made by the city and by the member together with any incremental or decremental adjustments allocated thereto.

Administrator means the pension board which shall have responsibility for overall administration of the retirement system.

Beneficiary means the person entitled to receive benefits hereunder at the death of a member who has been designated in writing by the member and filed with the board. If no such designation is in effect at the time of death of the member, or if no person so designated is living at that time, the beneficiary shall be the estate of the member. If an employee is married, the employee's spouse shall be his beneficiary for any death benefit payable under the system. The employee may designate someone other than his spouse as the beneficiary, provided that the spouse has consented in writing and such consent is witnessed by the board or a notary public. The consent form shall include the name of the non-spouse designated beneficiary and that person's relationship to the employee. Notwithstanding this consent requirement, if the employee certifies in writing that such written consent may not be obtained because there is no spouse or the spouse cannot be located, a waiver will be deemed a qualified election. If an employee is not married, the employee may designate a beneficiary of his choice.

Board or pension board means the pension board, which shall administer and handle the system as herein provided.

Credited service means the total period of an employee's service computed in completed calendar months, from his last date of employment until his normal retirement date or, if earlier, his date of actual retirement or termination of service, except as provided in the following paragraphs. Notwithstanding the foregoing, if an employee is re-employed within one year after termination of service, he shall be given credited service for the period of previous employment for the purpose of computing vesting. This shall not be construed to re-establish an account amount previously paid or forfeited.

Direct rollover means a payment by the system to an eligible retirement plan specified by the distributee.

Distributee means an employee or a former employee. In addition, the surviving spouse of an employee or a former employee is a distributee with regard to the interest of the spouse.

Distribution account means the vested portion of a member's account at the time of his termination of employment with the city and which shall from that time forward be maintained as a new separate account pending subsequent full distribution.

Earnings means the total compensation actually paid by the city to a participant from the date of participation exclusive of overtime pay, bonuses, expense allowances, payment for unused annual leave, unused sick leave and unused compensatory leave and any other nonregular payments.

Effective date means April 1, 1979.

Eligible retirement plan means an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 408(b) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, or a qualified trust described in section 401(a) of the Internal Revenue Code, that accepts the distributee's eligible rollover distribution. However, in the case of an eligible rollover distribution to the surviving spouse of a distributee, the term means an individual retirement account described in section 408(a) of the Internal Revenue Code or an individual retirement annuity described in section 408(b) of the Internal Revenue Code.

Eligible rollover distribution means any distribution of all or any portion of the balance to the credit of the distributee, except the following:

(1)

Any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specific period of ten years or more;

(2)

Any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and

(3)

The portion of any distribution that is not includable in gross income.

Employee or general employee means any person on the payroll of the city whose wages from the city are subject to withholding for the purposes of federal income taxes and for the purposes of the Federal Insurance Contribution Act whose customary employment is for 20 or more hours per week and five or more months per year. Such term shall include civilian, clerical or other noncombat employees of the police and fire departments and employees represented by a collective bargaining unit which has an agreement in effect between such unit and the city. Such term shall exclude elected city officials, temporary employees as provided in the civil services rules and regulations, police officers as defined in section 54-122 of this Code, firefighters as defined in section 54-77 of this Code, and those employees who elect to participate in the International City Management Association Retirement Corporation (IMCA-RC) Money Purchase Plan and Trust.

Fiduciary means any person or entity with authority to control or manage the system or any portion of the trust fund. This shall include, but not necessarily be limited to, the board, the trustee and anyone with investment authority.

Former member means any person who has ceased to be an actively employed member for any reason, and who has not yet received full payment of his distribution account or who has not had an annuity purchased for him with the proceeds of his distribution account.

Member means an actively employed employee who fulfills the prescribed eligibility requirements.

System means the city general employees' retirement system as contained herein and all amendments thereto.

Trust fund or fund means the trust fund established herein as part of the system.

Trustee means the corporate entity appointed as trustee hereunder, as evidenced by a separate trust agreement.

(Code 1981, § 15-20; Ord. No. 1989-33, § 1, 10-17-89; Ord. No. 1991-25, § 1, 10-8-91; Ord. No. 1991-34, § 1, 11-19-91; Ord. No. 1993-7, § 1, 3-16-93; Ord. No. 1993-22, § 1, 7-20-93; Ord. No. 1998-59, § 1, 10-6-98)

Cross reference

Definitions and rules of construction generally, § 1-2.