HomeMy WebLinkAboutORD 5947 AMEND 1977 RETIREMENT PLAN
Augusta Richmond GA
DOCUMENT NAME: O...\C{1l, 5i\l\ 1
DOCUMENT TYPE: o'(d'f()rlC,~
YEAR: q,
BOX NUMBER: ()~
FILE NUMBER: \ '?:>C;>(;)U-
NUMBER OF PAGES: 3
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ORDINANCE NO. 5"91/7
AN ORDINANCE TO AMEND THE RETIREMENT PLAN FOR
EMPLOYEES OF RICHMOND COUNTY, GEORGIA
EFFECTIVE JANUARY 1, 1977, SO AS TO PROVIDE
THAT EMPLOYMENT-RELATED DISABILITY RETIREMENT
BENEFITS SHALL BE 50% OF THE DISABLED
EMPLOYEE'S AVERAGE EARNINGS; 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 3.03 A.(5)(a) in its entirety, to
wit:
Basic Benefit: The monthly retirement
benefit payable to a Participant on his
Disability Retirement Date shall be an amount
equal to 25% of his Average Earnings
determined as of his Disability Retirement
Date, reduced by any monthly payment received
under Workmen's Compensation, or if Workmen's
Compensation is paid in a lump-sum payment,
the monthly payments otherwise payable to the
Participant under the Plan shall be reduced
by an amount which equitably adjusts, as
determined by the Board, for the amount to
which the Participant is eligible under
Workmen's Compensation.
and SUbstituting therefor the fOllowing:
Basic Benefit: The monthly retirement
benefit payable to a Participant on his
Disability Retirement Date shall be an amount
equal to 50% of his Average Earnings
determined as of his Disability Retirement
Date, reduced by any monthly payment received
under Workmen's Compensation, or if Workmen's
Compensation is paid in a lump-sum payment,
the monthly payments otherwise payable to the
Participant under the Plan shall be reduced
.
'-- '
by an amount which equitably adjusts, as
determined by the Board, for the amount to
which the Participant is eligible under
Workmen's Compensation.
section 2. All laws or ordinances or parts of laws or
ordinances in conflict with this ordinance are hereby repealed.
Section 3. This Ordinance shall be effective
immediately upon adoption.
ADOPTED the
'i
day of
Al\gl1St:
, 1997 and the
19
day of AURUst
, 1997.
1.-. . t ·
I, the undersigned, LENA BONNER, CLERK, do hereby certify
that the foregoing is a true and correct copy of an ordinance
adopted by the said Augusta-Richmond County Commission at two
consecutive meetings, held, on the following dates, to-wit:
AU2USt 5 , 1997, and AuRUst 19 , 1997, as the same
appear on the minutes of said Commission.
This
19
day of AURUst
, 1997.
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