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HomeMy WebLinkAboutAugusta Retirement System Augusta Richmond GA DOCUMENT NAME: CA J ~ liS to-. KtJ-\ ~ YhV\ -+- 5.J s-fe~ DOCUMENT TYPE: YEAR: / 91/9 BOX NUMBER: ::2 FILE NUMBER: / /) ~ '7 J NUMBER OF PAGES: 9 ~ ".JIII. .,... ~ ".-Y:" . / ' ..' ,/ .. .f' . \ \ \ \ \ \. -.j CITY COUNCIL OF AUGUST~ AUGUSTA RETIREMENT SYSTEM NO. 247 (Senate BI II No. 130) March I, 194~f I / , / An Act to provide a pension system for retirement of certain future employees of the Clty of Augusta; to establish a general retirement fund and for the adminhtratlon of such general retirement fund; to provide for contributIons to be made to the gener- al retirement fund by said city employees; to specify certain rules for retirement on ' pension for said future city employees including Firemen and policemen; to provide for the amount of retirement allowances of such employees and the method of payment thereof; to provide for the withdrawal of contributions by employees; to repeal all Acts In conflict herewith except as their provisions relate to the pensions of persons In the service of the city on the effective dote of this Act; and for other purposes. I Be it enacted by the Generol Assembly, of Georgia and it 15 hereby enacted by authority of the some: Section 1. Retirement allowonces for present city employees. All persons legally receiving or entitled to ot the effectIve date of this Act retirement payor pensions or any other sum In accordance with any law then in force shall continue to receive such retirement payor pensions or sums In accordance with the provisions of the respectIve laws. All persons In the service of the city at the effectIve date of this Act, then actually contributing to the Firemen's pensions fund, the pollcemen's pension fund or the city employees' pension fund, or who may be re-employed as provided In the Augusta Employees Pension Fund Act of 1945, pages 813-829, Inclusive, or the pro- visions of any noW existing law relating to firemen or policemen, sholl continue to have the rights and duties in respect of all pensions, retirement and disobillty benefits, and all other benefits and rights as previously existIng or hereafter existing under the respective Act under whl ch he made a contributIon, provided by the respective Acts relating to such funds then in force. " ,; Section". Retirement system for future employees. There are hereby repealed except as their provisions relate to all persons Ineluded In Section 1 of this Act: An Act approved February ?3, 1945, entitled "An Act to amend the charter of the City of Augusta, incorporated as the City Counci I of Augusta by an Act approved January 31, 1798 (Georgia Laws 1798), as amended by an Act approved August 19?5 (Georgia Laws 19?5, poges 867-872, InclusIve), designqted as "Augusto Firemen's Pension Act of 1973 amended," as amended by an Act ~pproved March 3, 1933, (Georgia Lows 1933, pages 866-868) designated as "Augusta Charter Amendments," and as amended by the vorious other amendatory Acts thereof, so as to strike and repeal from SectIon .. of the Act approved Augult 17, 19?5 (Georgia Laws 1975, pages 867-817), the following words: "or that may hereafter be employed by the Fl re Department of the City of Augusto "; to require that three per cent (3%) of the sa lory, wage or remunera- tion of each Fireman and policeman that Is employed by the Oty of Augusta after the / / / / ;0 . ~,:' .i~,_" . 'eHective'date af'this A'ct be deducted From his pay and paid into the fireme,n's an~, , pOli~emen's pension funds; to require said city to pay into said fund as part thetie-.' of, a sum equal to the amount deducted from said Rremen's and polic'emen's salaries, wages and remunerations; to provide authority to The City Council of Augusta to increase or reduce from time to time such withholdings from firemen's and policemen's salaries, wages or remunerations that are employed after the effective date of this Act and to increase or reduce From time to time the sum to be paid by said City Council of Augusta In matching sold withholdings from such firemen's and policemen's salaries, wages or remunerations; to specifically exclude from the provisions of Section 3 of this Act Rremen and poltcemen of the City of Augusta regularly employed before the eFFective date of this Act; to provide for the Commissioner of Public Safety of the City of Augusta to be retired under the provisions of said charter as amended on one-half (1/2) of his salary, wage or remuneration and emoluments of this oFRce; to repeal all laws in conflict herewith; and for other purposes, (Georgia Laws 1945, pages 782-786); and an Act approved February 23, 1945, entitled "An Act to amend the charter of the Oty of Augusta, I ncorporated as The a ty Council of Augusta, by an Act approved January 31, 1798 (Georgia laws 1798) and the several amendatory Acts thereof, as amendad by an Act as appears In Georgia Laws 1943, pages 1256 to 1258, inclusive, designatf!d "Augusta Charter Amendments", and as amended by an Act appearing In Georgia Laws, 1943, pages 1259 to 1263, Inclusive, designated "Augusta Omcers and Employees--Furlough"; to amend, ratify, and conflrm said charter and the amendments thereto approved December 31, 1937, designated as "Augusta om cers and Employees Tenure", appearing in Georgia Laws extra-session 1937-38, pafJes 938 to 943, inclusive, as '=Imen~d by an Act approved February 19, 1941, C1ppearing in Acts of General Assembly of Georgia, 1941 (Ga. Laws 1941, pages 1071-1072), and designatf!d "Augusta City Attorney"; so as to provide a permanent city employee pen- sion Fund for permanent employees of the, City of Augusta; deRne permanent employees, totally and permanently disahled and other terms; require that three (3%) per cent of the salary, wage or remuneration of each employee of said city be deducted from his pay check and paid into said fund as part thereof; require said city, each three months, to pay Into said fund as part thereof, a sum equal to the amount deducted from its employees' salaries, wages or remuneration; to provide authority to the City Council of Augusta to increa5e or reduce from time to time such employees' salary, wage or remuneration and to increase or reduce from time to time the sum to be paid by said Oty Council of Augusta in motching said withholdings from such employees' salary, wage or remuneration; exclude from provisions of this Act certain officers and employees of said city; require said city and certain employees and officials thereof to parform duties and obligations in connection with said fund; provide for payments to a permanent employee from said funds; a retirement pension when his total service amounts of twenty-flve (25) years; a retirement pension upon his reaching 65; a retirement pension when after twenty years' servi ce he is separated therefrom; a total permanent disability pension for total and permanent disability in- curred while In discharge of his duties; a temporary disability pension; to provide For a refund of 50% of deductl ons from sai d sa lary, wage or remunerati on in event of voluntary separation from service or separation from service by discharge, less deduc- tlons provided; to provide a refund upon separation from service by death of 100% of deductions From said salary, wage or remuneration, less deductions; to further pro- vide all retirement pensions and total disability pensions shaJl increase In proportion to sa lary, wages or remunerations he Id; to declare the City Attorney a permanent employee of the CUy Council of Augusta; to further provide punishment under the criminal law for persons who violate the terms of this Act; and For other Purposes; and to repeal the following Acts amending the Charter of the a ty of Augusta to wih ,- ".. , !:' "An AGt Qppeartng Iii Georgia Laws of 1923, pages 443 to 445, Inclusive, de-', ' '," signa'ted, 'Augusta City of; payment of retIred Employees'; and an Act appeartng In" Georgia Laws of 1924, pages 450 to 451, amending sold Act of 1923, desig- nated 'Augusta, Pension of Retired Employees, additional increase of'; and an Act appearing in Georgia Laws of 1933, pages 868 and 869, designated 'Augusta; Retirement of Employees'; provided speclOcally, however, that the repeal of the a- bove designated Acts shall In no way aHect the Augusta Firemen's pension fund or the AUHusta Policemen's pension fund and the several laws and amendments relating to said funds or either of them; nor any way affect any pension from the Oty Council of Augusta now being paid or due or that becomes due before the effective date of this Act by reason of any existing ordinances or Act; and to repeal all laws and parts of laws In conflict with this Act; and for other purposes." (Georgia Laws 1945, pages 813-829) . There are excluded from the prov15i ons of this Act the employees of the Uni versity Hospital, employees of the Sinking Fund Commission and offlcers elected by vote of the electorate. All other persons entering the servi ce of the city as regular employees, as distin- guished from temporary or casual employees, Including employees of the police and fire departments whose age at the time of their employment does not exceed thirty-five yeors,'and hereinafter reFerred to as future employees, shall contribute to and partici- pat!! In the benefits of a pension fund to be known as the genera I retirement fund. Section III. Adrnlnistratlon of general retirement fund. The general retirement fund sha II be kept In a separate account and a s!!parate permanent record shall Se kept by the Comptroller of such fund and of the contributions of each employee thereto. No warrant shall be drawn upon such fund except a~ provided In this Act. The Comptroller shall be the custodian of such fund and shall deposit the same In a bank or banks, and, pursuant to the direction of the pension fund Investment com- minee, which committee shall consist of the chief executive offi cer of the city, the comptroller and the chairman of the finance committee of the elty council of Augus- ta, shall Invest and reinvest, From time to time, any portion thereof not Immediately needed for the payment of pensions, In securities approved by law for the Investment of trust funds; and in addition thereto, In bonds and debentures assumed or guaran- teed by any solvent corporation or Institution, existing under laws of the United States of Ameri ca, or any state thereof, provl ded such bonds or debentures are rated at the time of their purchase, by a nationally recognized securities rating service, as AAA (Aaa), AA (Aa), or A (a), or In lieu thereof, provided such bonds or deben- tUrE!S are the type in which domestic life Insurance companies are permitted to in- vest under the provisions of sectIon 56-1016 of the Code of Georgia of 1933, as amfmded by an Act approved /v\arch 8, 1960 (Ga. L. 1960, pp. 289, 479). The a- mount of the pension fund whl cft may be Invested In the bonds and debentures of any one corporation may not exceed ICY'/o of the total amount of such fund then outstand- Ing. Withdrawals from the fund sha I I be made only by vouchers signed by the Comp- troller or deputy Comptroller and countersIgned ~JY the chief executive of the city as designated by the Oty Council of Augusta. There shall be maintained in the ofOce of the Comptroller a record of the age, length of service and contributions of each future employee. All appll cations for retirement or the return of contri bu- ttons shall be made In writing on Forms prescribed by the Comptroller and nled In his office. In the case of an application for retirement for disability the chief exe- cutive of the city as designated by the Oty Counel I of Augusta shall Immediately /' "- t,. "dedgnale (] physi clan to examine the appli cant and no such reti remen~ shellJ be aUo~ved 'un.less the physician so' appointed n les with the chief executive of ,the city as designated by the City Council of Augusta his affidavit that he has examined the applicanl and found him totally and permanently Incapable of pursuing any gainful occupation; pro- vi ded that the applicant If aggrieved by the decision of the ctty's physi cian may de- signate a physician on his own part who together with the city's physiclan shall desig- nate a third and the decision of the malorlty of said three physicians shall be Anal. All appll cations for retirement sha I I be acted upon by the pension committee consisting of, ' the chief executive of the ctty as designated by the Oty Council of Augusta, the Chair- man of the Finance and Appropriations Committee and the Comptroller. The last named shall be the secretary of the Committee and shall keep a careful record of all Its pro- . ceedlngs. Upon certification by the secretary that a 'malority of the Pension Commit- tee have determined that the applicant Is entitled to retirement on a pension of a given amount the Comptroller shall Include his name on the pension list and shall draw month- ly vouchers for the payment of his pension. The Oty Council may adopt further reason- able rules and regulations for the purpose of carrying out the provisions of this Act. Section IV. Contributions. There shall be deducted by the Comptroller from the salary, wages or remuneration due each future employee, hired after June 30, 1980, at each pay period, a sum eqJal to 8% thereof, which deduction shall be paid at once into the general retirement fund. The Oty shall contribute annually to the said fund sums sufficient on sound actuarial principles, with the contributions of their respective future employees, to provide future pensions for such future employees based on services ren- dered by them. The Comptroller sha II certify to the Chief Executl ve of the Oty as designated by the 0 ty Council of Augusta the sums necessary to be appropriated each year upon the basis of the actuarial survey and valuation hereinafter provided. The surm so appropriated shall be paid into the genera I retirement fund at such times as the Comptroller shall require. It shall be the duty of the Chief Executive and the City Council of Augusta to cause to be made within six months after the effective date of this an actuarial survey and valuation of each of the seve~1 pension systems of the City. Section V. Retirement. Any employee contributing to the general retirement fund shall be entitled to retire on a pension to be paid from said general retirement fund as follows and not otherwise: (I) On his own motion upon attaining the age of A fty-Ave years If a Areman or policeman, or sixty years if employed In any other capacity, provided such employee has had at least twenty-Ave years of continuous service with the city. (2) Automatically upon attaining the age of sixty years If a policeman or fireman, or seventy years If employed in any other capad ty, provided such employee has had at least twenty-Ave years of continuous service with the city. (3) Upon becoming, irrespective of the duration of his employment, toto I Iy and permanently dlsab led, as the result of illness or InJury Incurred in the performance of ckJty and not caused by his own willful misconduct or Intoxication. i (4) Upon becoming, after ten years of service, totally and permanently disabled, as a result of Illness or inJury from any cause ari'slng, provided that no employee shall be entit led to a pension on account of dlsabtlttycaused by his own willful misconduct or Intoxication. ' ~' ' ._ ' (5), .(,A,) The Continuance of any disability shall be inquired into by ri!e'di}:aL' '~xa'mination, os provided In Section III of this Act, upon the Appli,cation of any Interested party and for good couse shown. (B) 'Totally and permanently disabled' Is hereby defined, for the purposes of the foregoing Paragraphs 3 and 4 of this Section, to mean not able on account of the disability received to discharge adequately his employment duties. (C) In the event of a finding of discontinuance of disability by medical examination, city council Is hereby authorized, by appropriate ordinance or resolution, to terminate any pension paymenh payable by reason of a qualifying disability under this Act, reemploy any rehabilitated pensioner, continue pension payments In lieu of reinstatement, or make such other disposition of the pension claim os may be necessary and proper. (6) On his own motion an employee con make application for early retire- ment at. any time within five years of his normal retirement dote as set forth in subparagraph (I) hereof provided he has completed at least 20 years of continu- ous service with the City. In such event, the employee's retirement benefit would be calculated In the same manner as for normal retirement as provided In Section 7 Of this Act reflecting the average annual rate of pay and continuous servi ce as of the date of termination. If the employee elects to have his pension commence Immediately, the payment so calculated sholl be reduced by one-half of one percent for each month that his age at the time of early retirement is less than the normal retirement age as provided In subparagraph (I) of section 5 here- of. (7) Upon becoming, after twenty years of service, permanently separated Involuntar! Iy by action of the City without any fault on the employee's part, provided that such provision would not apply If such employee Is offered an- other position with the City of Augusta with no reduction In salary. Section VI. Continuity of service. Periods of absence of not more than ninety days In anyone calendar year or absence In the armed Forces of the United States in time of war shall not be considered as breaking continuity of service. Other absences of more than ninety days by reason of leave of absence granted by the Oty Councilor by reason of disability established by the evidence of the attending physicion and/or a physician appointed by the chief executive of the city as designated by the City Council bf Augusta shall not be ,considered as breaking continuity of service but shall not be counted In determining the amount of the pension. ' Section VII. Amount of retirement allowance. After retirement In accordance with the provisions of this Act a Future employee shall receive during his Ii fetlme a pension, payable monthly, at an annual rate amounting to one and two-thirds per cent of his average annual rate of pay For the last Rve years of his service, multiplied by the number of years of.such service, provided that a pension for disability Incurred In the perFormance of duty shall not be less than n fty per cent of such average annual rate of pay, and provl ded further that any amount or amounts received by way of a workmen's compensation award, excluding that portion of the award speclRcally covering medical, nursing and hospital expenses, shall be deducted from the amount of any pension arising out of such. disabi IIty; provl ded that any such employee may, subject to such rules and regulations cis the city council may from time to time . establish, elect to receive a pension for his lifetime, payable monthly, at an /' ~R . :a'nnLar ~~t~ am.~untlng to 2% of his overage annual rate of pay for the'l~si. (jv.~ years of his service, multiplied by the number of years of suc,h servi'ce, the annual amount thereof, however, not to exceed 600/0 of the said overage annua I rote of pay. (I) On the December 31 coinciding with or next following the dote of retire- ment ond commencement of retirement payments to 0 retired employee, the United States Consumer Price Index for the year ending on that December 31 sholl be posted to the retiree's record. On each subsequent December 31 thereafter, while the employee Is receiving his monthly retirement payment, the payment sholl be adlusted on April 1st of each year by multiplying the amount of the monthly pay- ment received during the year Just ending by the Index Ratio. The Index Ratio Is attained by dividing the Comumer Price Index For the current year extending on the current December 31 by the Consumer Price Index For the year immediately preceding the current year. If the Index Ratio I! equal to 1.02 or more or I! eqJal to .95 or less, each retiree's monthly payment sholl be Increased or decreased by the amount of the Index Ratio for that year. If the Index Ratio is between. 95 and 1.02, then the retirement payments sholl not be Increased for the forthcoming year. In thl! event, the Consumer Prl ce Index for the year ending on the current December 31 sholl be replaced by the Consumer Prl ce Index For the year ending on December 31 when the bene fits were ,lost adlusted. Thh partl cular set of mechani cs wi II ovoid the necessity of Increasing the beneRts in any year by less than 2% upwards or by less than 5% downwards but will allow for such minor variations in the Consumer Price Index to be accumulated forward for recognition in subsequent years. How- ever, no pension benefits sholl be reduced below the original amount granted. The aforesaid adlustments sholl be payable to all employees who hove retired prior to the dote of thh Act as we II 05 those who retire In the future, and the Consumer Price Index figure shall be posted Initially 05 of December 31, 1971. Section VIII. Alternative form of retirement allowance. Any future employee may, subject to such rules and regulations 05 the Gty Council may from time to time establish, elect to receive 0 reduced retirement allowance with the pro- vision that such reduced retirement allowance, or such part thereof os may be specified by such person In his notice of election, sholl be continued after his death to his spouse named In such election for so long os hI! spouse lives. The reduced retirement allowance sholl be In such amount os sholl be determined by the pension committee to be the actuarial equivalent of the retirement allowance that wou Id hove been payable hod not the election been mode. Un less the member fi les 0 wrftten notice of hI! election of thl! option with the Comptroller at least three years beFore he becomes eligible for retirement he shall be required to pass a satisfactory physical examination at the time of making such election. Section VIII.A. That the widow of on employee who Is killed In line of duty, as hereinafter defined, may elect, In lieu of receiving a refund of pension contri- butions under the provl!ions of section IX of said Act, approved February 25, 1949 (Go. l. 1949, p. 1070), to receive 0 pension computed at 25% of said em- ployee's monthly salary or wages ot the time of his death, which sholl be payable monthly to the said widow, until her death or remarriage, or In the event of her death leaving 0 child or children of the said employee surviving her, who hove not reached their 18th birthday, sold pension shall be continued to be paid for the benefit of such child or chlldren as long os they remain unmarried and until they reach their 18th birthday; and If there be no widow living at the time of the death of such employee killed as herein deRned, but there be 0 child or children of said employee living as of sold dote who have not reached their 18th birthday, the .. _.e. t. .t. , I' __II._t.___..!J_-1C___...!-I_... / -;.... , 'foT.th13 b-e'';efit of such chi Id or children as long os they remain unmarried, aryd u~tll. . 'they. reach their 18th birthday. As used herein, "kill1n line of duty" sl1all m'edn ' , ki lied whi Ie actively performi ng the prescribed duti es of the employe'e's job and not resulting from any misconduct or negltgence of such employee; provided, how- ever, that no payments sholl be made under the provisions of this section until such dote as any monthly benefits provided under the Workmen's Compensation Laws I of Georgi osha" have ceased.! . Section IX. 'Nithdrawal of contributions. Any future employee leaving the em- ployment of the city before becoming eligible for retirement may withdraw on re- quest to the Comptroller the total of all contributions made by him, without in- terest, provided I F no such request Is mode within Four years such contribution shall revert to the Fund. In case of the death of a future employee before retire- ment, or after retirement without having made the election provided in the pre- ceding section, or In case Of the death of the survivor of a member who has I'Tlqde such election and his spouse after his retirement, his contributions to the fund, wHhout'1nterest, less any retirement allowance paid to him or his spouse, shall be paid from the fund on the order of the Pension Commission to the benefi dory or beneficiaries, H any, named by such member. If no named beneficiaries survive the member, or thA survivor of the member and his spouse, payment shall be made to the executors or administrators of such member or his spouse, as the case may be. .....(1) Provided further that any employee who terminates his employment with the Oty after having completed at least 15 years of continuous service and who has attained the Qge..-Of.-JILl,east 45, shall have aright to 0 vested eension in lieu of a reFund of his contributions, payable at his otherwise norrror;-~ti~t age as provided in sub- paragraph (I) of section 5 of this Act without reduction or at an earlier retirement age with a reduction as provided in subparagraph (6) of section 5 of this Act. The vested percentage of his accrued benefit at the time of such termination will be equal to 5(1'/0 H he hod completed 15 years of service plus an additional 10'% of each year of contin- uous service in excess of 15 years up to 0 maximum vested percentage of 100'/0 of his accrued benefits from the completion of 20 or more years of continuous service. The accrued benefit Is colulated in the same manner os for normal retirement but reflecting the employee's length of servi ce and overage annual rate of pay determined as of the dote of such termination. ' Section X. Assignment prohibited. Any assignment by a member or benefi dary of any allowance or benefit payable under the terms of this chapter shall be null and void. Each such allowance and benefit shall be for the support of the' member or beneficiary entitled thereto and shall be exempt from the claims of creditors of such member and beneficiary; provided, if the provisions of this section are contrary to the lows governing a particular set of circumstances, as to that set of circumstances, any allowan~e or benefit payable hereunder shall be exempt to the maximum extent permitted by low. ' . Section Xl. Effect of extension of the Federal Social Security Act. I f and when the terms of the Federal Social Security Act are extended to include municipal employees the City Counei I shall hove po~er to reduce pro tanto the contributions /. /' - /~ ' 'of future employees and the amounts of the pensions to whiCh they may be'come entitled hereunder, provided that no reduction shetll be made in amount of the pension paid to any such future employee al ready retired at the date of said Social Security Act Is so extended. .. Section XII. If any provisIons of this Act, or the applicability thereof to any person or circumstance, Is held invalid, the remainder of this Act and the applicabil- ity thereof and of such provision to other persons or circumstances shall not be affected thereby. Section XIII. Effective date. That the First day of the First month after the approval of this Act by the Governor shall be the "effective date" of this date. Section XIV. Repeal. That all laws and parts of laws in conflict with the provisions of this Act, be, and the same are hereby repealed. Section XV; Publication of Notice of Intention to Apply For Passage of local legislation. That there Is attached to and made a part hereof, a copy of a notice certified by the publisher of the Augusta Chronicle, the newspaper in which the sheriff's advertisement for the locality affected by this Act are published, to the effect that notice of Intention to apply For the passage of this Act was published once a week for three weeks during a period of sixty days Immediately preceding Its Introduction Into the General Assembly, to wit, on December 31, 1948, January 5, 1949 and January 10, 1949, which reads as Follows: Affidavit of Publisher of Augusta Chronicle. State of Georgia, Richmond County. Personally appeared before me, an officer duly authorized to administer oaths, William S. Morris, who being duly sworn deposes and says that he is publisher oF' the Augusta Chronicle, the newspaper in which sheriff's advertisement! for Rich- mond County, Georgia were: published during December, 1948 and January 1949, and that the following notice of Intention to apply for local legislation was pub- lished In said newspaper once a week for three weeks during a period of sixty days prior to January 31, 1949, to wit, on December 31, 1948, January 5, 1949 and January 10, 1949:, "Notice Is hereby given of the Intention of the undersigned to apply at the next session of the general assembly of Georgia convening on January 10, 1949, for the passage of a Bi I I to be, entitled: An Act to provide a pension system for retirement of future employees of the City of Augusta~ to establish a general retirement fund and for the adminis- tration of such general retirement fund; to provide for contributions to be made to general retirement fund by all city employees~ to specify certain rules for retirement on pension for all future city employees including firemen and, policemen; to provide for the amount of retirement allowance of such employees / " ~ ; -... ," '-~ ::", ~.i . . ' . 'and-- the method of payment thereof; to provide for the wJthdra~al C;f co~tributions by employees; to repeal all Acts In conflict herewith e~cept as their provisions relate to the pensions of persons In the service of the city on effective date of th i s Act; and for other purpos~s. ; Henry P. Eve, State Senator, 18th District of Georgia John C. Bell, Rodney S. Cohen, W.R. Coleman, Members of House of Representatives. Sworn to and subscribed before me this 29th day of January, 1949: A. M. LeRoy, Notary Public RIchmond County, Georgia. Approved February 25, 1949. " I ;, :[ 'i " ! I ,I " ! I I I ! I " " :/