Laserfiche WebLink
• <br /> • <br /> • <br /> such city credit on acc ,unt of Reserves Released on Death, <br /> Resignation or Dismissal shall not be withdrawn by the city or <br /> applied Es an offset to its required contributions unless the <br /> Fund has reached the amount specified in Section 10 , but shell <br /> be accumulated in a reserve for the purpose of funding the <br /> remaining prior service liability es soon as such reserve is <br /> sufficient for that purpose . <br /> (c ) my member may redeposit in the Retirement Fund an <br /> amount equal to that which he previously withdrew therefrom at <br /> the last termination of his membership , such redeposit to be <br /> paid into the Retirement Fund in accordance 7ith rules <br /> established by the Board. If a member upon re-entering the <br /> Retirement System after a termination of his membership shall no <br /> make such a redeposit as hereinabove provided, the rate of his <br /> contributions for future years shall be the normal rate provided <br /> for in Subdivision (a ) , Section 5 of this Ordinance at his age <br /> of re-entrance ; otherwise his rate of contri bution fbr future <br /> years shall be the same as his rate prior to the termination of <br /> his membership. In the event such redeposit is made by a member <br /> an amount equal to the accumulated normal contributions so re- <br /> deposited she l again be held for the benefit of the said member <br /> and shall no longer be included in the amount available to meet <br /> the obligations of the City on account of benefits that have beep <br /> granted or liabilities that have been assumed on account of <br /> prior service of members or on account of minimum pensions, and <br /> the City shall reinstate the prior service credit for such member. <br /> Section 13. SERVICE RETIRE?E''TTT. <br /> Retirement of a member for service shall be made by <br /> the Board of Administration as follows: <br /> (a ) Lach member in the City service on January 1, 1945, <br /> who has attained the age of Seventy ( 70) years or over, shell be <br /> forthwith retired , except that during the period of hostilities <br /> in the present war and for Six (6) months thereafter, the City <br /> Council on the request of the head of any Department and with <br /> the consent of the employe , may defer the retirement of any <br /> skilled and essential employe who cannot be replaced. <br /> Each and every employe engaged in City service on <br /> January 1, 1945, or subsequently, who thereafter shall have <br /> attained the age of Seventy (70 ) years shall be retired or <br /> released on the first day of the calendar month next succeed- <br /> ing the month in which the employe shall have attained such <br /> age. <br /> (b ) /iny member in the city service may retire by filing <br /> with the Board a written application, stating that he desires to <br /> be retired; such application to be ma de at least Thirty (30 ) <br /> days prior to date of retirement; provided, however , that said <br /> member, at the times specified for his retirement, shall have <br /> completed Ten (1C ) years of city service as defined in this <br /> Ordinance , and shall he ve attained the age of Fifty-seven ( 57 ) <br /> years, or shall have completed Thirty (30 ) years of city service <br /> as defined in this Ordinance . Permanent discontinuance of City <br /> service after attainment of age Fifty-seven (57 ) , shall entitle <br /> the member to his retirement allowance provided such employe ha <br /> had at least 'en (10) years of City service to his credit; and <br /> provided further, that permanent discontinuance of City service <br /> -10- <br />