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Home My WebLink AboutORD 5864 AMEND 1949 PLAN Augusta Richmond GA . DOCUMENT NAME: 0 ~;qqfo"- .5;/6/..) DOCUMENT TYPE: Or d/ '!1CiYIC e. YEAR: ;q 0 G BOX NUMBER: ;;L FILE NUMBER: );L ~ l/ 0; NUMBER OF PAGES: if rf .-." ~ r.' . . , 4 ORDINANCE NO,5864 AN ORDINANCE TO AMEND THE CITY COUNCIL OF AUGUSTA 1949 GENERAL RETIREMENT FUND (GA, L. 1949, p, 1070, AS AMENDED BY GA, L. 1966, p, 3351; GA, L. 1968, p, 2457; GA, L. 1971,p, 3796; GA, L.1975, p, 2936; GA, L. 1980, p, 3198; GA, L. 1981, p, 4373; ORDINANCE NO, 5245, MARCH 18, 1985; ORDINANCE NO, 5330, APRIL 7, 1986; ORDINANCE NO, 5331, APRIL 7,1986; ORDINANCE NO, 5397, FEBRUARY 16, 1987; ORDINANCE NO, 5398, FEBRUARY 16, 1987; ORDINANCE NO, 5457, DECEMBER 7, 1987; ORDINANCE NO, 5458, DECEMBER 21, 1987; GA, L. 1988, p, 5224; GA, L. 1988, p, 5425; GA, L. 1988, p, 5428; GA, L. 1989, p, 5268; GA, L. 1990, p, 5386; ORDINANCE NO, _ 5700, JUNE 21, 1993; _ GA, L. 1994, p, 5276; Ordinance No, 5776, APRIL 17, 1995), ENACTED PURSUANT TO THE PROVISIONS OF THE OFFICIAL CODE OF GEORGIA ANNOTATED WHICH PROVIDE FOR HOME RULE BY MUNICIPALITIES AND PURSUANT T.O THE PROVISIONS OF THE CONSTITUTION OF THE STATE OF GEORGIA WHICH PROVIDE FOR HOME RULE BY COUNTIES; SO AS TO ALLOW FOR ENHANCED EARLY RETIREMENT FOR EMPLOYEES EMPLOYED ON THE EFFECTIVE DATE. OF THIS AMENDMENT; TO PROVIDE FOR . REPEAL OF ENHANCED EARLY RETIREMENT ON A DATE CERTAIN; TO REPEAL CONFLICTING ORDINANCES; TO PROVIDE AN EFFECTIVE DATE; AND FOR OTHER PURPOSES, BE IT ORDAINED BY THE AUGUSTA-RICHMOND COUNTY COMMISSION- COUNCIL, AS SUCCESSOR TO THE CITY COUNCIL OF AUGUSTA, GEORGIA, - . - . AND IT IS HEREBY ORDAINED BY AUTHORITY OF THE SAME AS FOLLOWS: Section 1. The City Council of Augusta 1949 Augusta Retirement System (Ga, L. 1949, p, 1070, as amended by Ga, L. 1966, p, 3351; Ga, L. 1968, p, 2457; Ga, L. 1971, p, 3796; Ga, L. 1975, p, 2936; Ga, L. 1980, p, 3198; Ga, L. 1981, p, 4373; Ordinance No, 5245, March 18, 1985; Ordinance No, 5330, April 7, 1986; Ordinance No, 5331, April 7, 1986; Ordinance No, 5397, February 16, 1987; Ordinance No, 5398, February 16, 1987; Ordinance No, 5457, December 7, 1987; Ordinance No, 5458, December 21, 1987; Ga, L. 1988, p, 5224; Ga, L. 1988, p, 5425; Ga, L. 1988, p, -5428; Ga, L. 1989,p, 5268; Ga, L. 1990, p, 5386; Ordinance No, 5700, June 21, 1993; Ga, L. 1994, p, 5276; Ordinance No, 5776, April 17, 1995) is hereby amended by adding a new section for Enhanced Early Retirement, to be 1 , ., '. ,.- ": . . .. known as Section V,A" to read as follows: V,A, Enhanced Early Retirement Participants who have attained, or who will have attained, the age of 50 on or before December 31, 1996, and who have completed 5 years of Credited Services as of July 1, 1996, and who are employed by Augusta-Richmond County on the effective date of this Amendment, may elect to receive retirements benefits under this section, Such election must be made on a form designated by Augusta-Richmond County between October 1, 1996 and 4:00 p,m, on December 23, 1996, Any employee electing to retire early pursuant to this ordinance shall have until 4:00 p,m, on the seventh (7th) day following such election to revoke same, (a) Enhanced Early Retirement Date: The Enhanced Early Retirement Date of a Participa~t shall be the first day of the month immediately following the date he retires from the employ of Augusta-Richmond County under the provisions of this section, (b) Amount of Retirement Benefit: The monthly retirement benefit payable,to a Participant who retires on his Enhanced Early Retirement Date shall be an annual emount equal to 2,15% of his average annual rate of pay for the last three years of his service, multiplied by the number of years of such service, plus an additional ten (10) years of service to be. added. to the years of Credited Service for purposes of computing the amount of the retirement benefit, up to 30 years plus 1.5% of his average annual rate of payment for the last three years of service multiplied by the number of years of Credited Service in excess of thirty years, up to a maximum of one hundred (100) per centum of average compensation for the Participant's high three (3) years of - earnings, any contrary provision of this Act notwithstanding, The amount of the monthly enhanced retirement benefit shall not be reduced for any month or time period by which the Early Retirement _ Date of a Participant precedes his Normal Retirement Date, notwithstanding any other provision of this Act, (c) Prerequisite 'for Electing Enhanced Early Retirement: Any Participant electing Enhanced Early Retirement shall be required to execute a covenant not to sue in favor of the City of Augusta, Georgia and Augusta-Richmond County, Georgia, its officials, agents, and employees for any and all claims arising out of such employee's employment by the City of Augusta, Georgia and/or Augusta- Richmond County, Georgia, and agreeing not to seek or accept any further employment by Augusta-Richmond County, or its 2 " , . Constitutional and elected officials, This provision shall not be construed as prohibiting any such person from seeking any elective position for the State of Georgia or Augusta-Richmond County, Section 4, Election of the Enhanced' Early Retirement benefits is completely voluntary, Each Participant who is eligible for such benefit may decline or accept the Enhanced Early Retirement benefits on or before 4:00 p,m, December 23, 1996, Section 5, The election to receive Enhanced Early Retirement beneifts pursuant to this ordinance shall be irrevocable after 4:00 p,m, on the seventh (7th) day following such election, Section 6, The rights and obligations under the Plan with respect to persons whose employment or term of office with the City of Augusta or Augusta-Richmond County was terminated for any reason whatsoever prior to the effective date of this amendment are fixed and shall be governed by such Plan as existed and was in effect at the time of such termination, Section 7, Section V,A, titled "Enhanced Early Retirement" is repealed as of January 1, 1997; provided, however, such repeal shall not affect rights vested under said Section V,A, Section 8, This ordinance is adopted by the Augusta-Richmond County Commission Council pursuant to the provisions of Q,C.G,A, S 36-35-3, providing for Home Rule for Municipalities and pursuant to the provisions of the Constitution of the State of Georgia which provide for home rule by- counties:'" Section 9, All laws or ordinances or parts of laws or ordinances in conflict with this ordinance are hereby repealed, Section 10, This ordinance shall. become effective upon its being filed with the Secretary of State of Georgia and with the Clerk of Superior Court of Richmond .County, Georgia, in accordance with all applicable law, ADOPTED this 20th day of August, 1996 and this 3rd day ~f September, 1996, .- ~~ ,.,:~'7 ,'... ~--- ,'. , J r--;.... , -,...-.., ./.~. . '" ~ ;,"':;. ................ , .' - . ~~. -\'- -:;.... "" . .' ,- r;:- ..,-. d County Commission-Council . >:-- '- '. "-'" -~ " ~ "..-t. 7"" ' ~ -.-~ .- 3 ,. ~;- ~ ,. ; " :;' . :". I, the undersigned, LENA BONNER, CLERK, do 4ereby certify that the foregoing' is a true and correct copy of an ordinance adopted by the said Augusta-Richmond County Commission-Council at two consecutive meetings, held, on the following dates, to-wit: August 20, 1996, and September 3, 1996, as the same appear on the minutes of said- Commission-Council, This M day of September, 199~a:. ~~ Clerk0