HomeMy WebLinkAboutORD 5905 AMEND 1977 RETIREMENT PLAN
Augusta Richmond GA
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DOCUMENT TYPE: CXc\\\\OS1ce
YEAR: C\l
BOX NUMBER: C)9
FILE NUMBER: \ ~ \
NUMBER OF PAGES: 3
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ORDINANCE NO. S-91JS-
AN ORDINANCE TO AMEND THE RETIREMENT PLAN FOR
EMPLOYEES OF RICHMOND COUNTY, GEORGIA
EFFECTIVE JANUARY 1, 1977, SO AS TO PROVIDE
FOR IMMEDIATE VESTING AND PARTICIPATION FOR
DEPARTMENT HEADS APPOINTED AS SUCH BY
RICHMOND COUNTY; TO REPEAL CONFLICTING
ORDINANCES; TO PROVIDE AN EFFECTIVE DATE; AND
FOR OTHER PURPOSES.
BE IT ORDAINED BY THE AUGUSTA-RICHMOND COUNTY
COMMISSION AND IT IS HEREBY ORDAINED BY AUTHORITY OF SAME AS
FOLLOWS:
Section 1. The Retirement Plan for Employees of
Richmond County, Georgia effective January 1, 1977 is hereby
amended by deleting Section 3.05, entitled Termination of
Employment, to wit:
A. The Participant who terminates
employment with the County before
completing 5 years of Credited
Service, for any reason other than
death or retirement, will receive a
lump-sum cash amount equal to the
total of his contributions with
interest, payable within 60 days
after his date of termination.
B. A participant who terminates
employment with the County for any
reason other than death or early
retirement, after the completion of
at least 5 years of Credited
Service, will receive a deferred
retirement benefit beginning on his
Normal Retirement Date, provided he
is then alive, equal to the monthly
benefit computed in the same manner
as for normal retirement under
Section 3.01-B(1).
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and substituting therefor the following:
A. A Participant, other than a
department head appointed as such
by Richmond County, who terminates
employment with the County before
completing 5 years of Credited
Service, for any reason other than
death or retirement, will receive a
lump-sum cash amount equal to the
total of his Contributions with
interest, payable within 60 days
after his date of termination.
B. A Participant, other than a
department head appointed as such
by Richmond County, who terminates
employment with the County for any
reason other than death or early
retirement, after the completion of
at least 5 years of Credited
Service, will receive a deferred
retirement benefit beginning on his
Normal Retirement Date, provided he
is then alive, equal to the monthly
benefit computed in the same manner
as for normal retirement under
Section 3.01-B(1).
C. A Participant who is appointed a
department head by Richmond County
and who terminates employment with
the County for any reason other
than death or early retirement will
receive a deferred retirement
benefit beginning on his Normal
Retirement Date, provided he is
then alive, equal to the monthly
benefit computed in the same manner
as for normal retirement under
Section 3.01-B(1).
section 2. The Retirement Plan for Employees of
Richmond County, Georgia effective January 1, 1977 is hereby
amended by deleting section 1.23, to wit:
Eligibilitv Service - The period between the first
day of employment and the first day of the month
on or after the date when the Employee has
completed 90 days of employment.
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and substituting therefor the following:
Eliqibilitv Service - The period between the first
day of employment and the first day of the month
on or after the date when the Employee has
completed 90 days of employment; provided however,
that this Section shall not apply to department
heads appointed as such by Richmond County.
section 3. The rights and obligations under the Plan
with respect to persons whose employment or term of office with
Richmond County 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 4. This Ordinance shall be effective upon
adoption.
Section 5. All laws or ordinances or parts of laws or
ordinances in conflict with this ordinance are hereby repealed.
day of iJ14iJt /I--
1<i77
ADOPTED the ~
day of tJJ~
, 1997 and the
1997.
AUGUSTA-RICHMOND COUNTY
COMMISSIO
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