Ord 0451-CREATING A PENSION PLAN FOR TOWN EMPLOYEESZ
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G. ~U V..l.. 1i•.._1~~1L: ~~_L...~r1 _.~:lF ~ _U .'v Ul' 1 L\ F C`111 LIB;
The Town
G'ouncil
of the Town
of All os
Gatos does ordain as
.i.O.~~q nTS .
f7' l le i `71l Lr:!J C t ~l D (JeflSiCii plan, to be
known as the "Los Gatos Toojn employees ;Pension Plan? is hereby
created and established
PL . The .urpose of .,h is ordinance is to
establish a -pension plan and, provide relat-ed be_ ne.fl' for certain
employees of the Town of Los Gatos,
SECT iG NT 3 . D: i_-~ 1I' ,~IvS s The 'off l oln~ Flo „cords and phrases 'as
used hereinafter, unless a diffe'ren.t meanie,' is plainly required by
the conteXt, shall have the _-ollo ing meanings
(a) "Pension Plan'? or "Plan" shall mean the Los Gatos Town
~_mployees Pension Dian created herein.
(b) " moloyee" shall mean any person, including any person
generally classed as an "officer" or 'official", in the emnlojT of
the To,%n whose ccmpensation for such 'employment is i4iolly paid by
the said Town a.nd i ho is regularly employed by the Town on a full-
time basis; but does not includethose persons holding elective
offices or those persons employed temporarily, or those persons
employed on less than a full-tinge basis
(c) "Member" shall mean any person included in the member--
ship of the Pension Plan 4n accordance with the -orovisions of
Section 5 of this Ordinancem
(d) "T ow-n "l shall mean T ouch of Los Gatos a
(ell "Board" shall mean the "Pension Board" as hereinafter
created.
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(f) "Service" shall mean employment of an employee by the
To-v-m on a full-time basis
(g) "Pension Effective Date" shall mean January 1, 1958°
(h) °'_ntry Date" shall mean the first day of January, 19589
and the first day of January in every year after 1958.,
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{i) "Anniversary Date" shall mean any anniversary of the
pension effective date or of any entry date on which the member,
as to . whom the term is applied, became a member.
"Past Service" shall mean all continuous full-time
service Prior to the pension effective date. or t'_ne purpose of
computing past service, periods of such service of less than six
(6) _calendar months shall be disregarded, and periods of such
service six (6) calendar montb. s or mpr e in any one year shall be
considered a year oz" past service.
(=K1 "Current 3~ervice¢g shal'i mean :all continuous f-Ljll-time
service after the pension. e'f'fective dated
(l) Ft Age 11 means the age of- a perSOn On his nearest birthday.
(m) _vormal l tlremenu
,p le ` gate" 'shall mean, ;,Then apIJL1P.(~ t0
any member nho becomes ;a ,merriber as of or after the ,-)ensi,.,n of "ecti ve
date, the first date of the meth. coincident with or next following
his 65th birthday. `:'it- tine- approval of the Council, a miember may
-emna r in service a=Ler his normal.,.Tci.irerne=?t date as defined here-in;
but 1f he noes so, (1) no "contributions shall be maJ.e to the elan
2 ± the by the eA:iployee or t ?e Toi^Tn 'after em!oloyee' S nb=-ic^ ± re- ' reme-_r t
date, and (ii) the pa-v meat of benefits hereunder: shall be deferred
until his actual retireiment from service,
(r) "Early Retirement Dates` shall mean the first ay of any
month, after the -ceini sio:? effective date, but net more than 1,10,
calendar years prior to the normal retirement date of the 'nenber to
w om the terra is applied, oZi r3hiCll-.4 any imember, twenty (20)
year's or -more of serv? ce, and at lea= t . five years oF current
service lo ar t , ci r a,ion in t h i s Plan, shall- `elect to ret-r•e from service.
(o) LIJ arT.r Le~,.ve'r shall be t i, -leave of absence status of
a permanent employee or probationer who leaves a -oSltlon to serve in
the armed _Or'Ce[J of the United ~
States t ~es in l;t~
. U of national emergency
or ;Mate military emergency, or T,,Tho is _drafte d under the
±:<<tional
Conscrrinticn of the United tales of kmerica, and Thrho has the
right under statutes relating, to reinstatement of }persons after
military service to return tc his -QoSiticn.
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(b) "Leave of Absence" shall be a leave of absence of an
employee or probationer duly granted by the Tom Council in accord-
ance with Section 4 of the Personnel System Rules and Regulations
of the Town of Los Gatos
(q) "Pensioner'*-: shall mean a member, or former member,
entitled to a pension under the provisions of Section 9 or Section
11 hereof.
(r) "Beneficiary" shall mean any person designated by a
member as one entitled to receive benefits 'which may be payable
on,or after the death of such. members Vuherever the rights of the
members are stated or limited by the provisions hereof, their
beneficiaries shall be bound by such statement or limitation,
(s) "Insurance Contract" shall mean any form of annuity
-contract issued by a life insurance company, including, but not by
jay of limitation, a 'group annuity contract `"or a group annuity
deposit administration contract.
(t) "Insurance Companyt' shall mean any life insurance
company which, upon application by the Town Council, in accordance
with the provisions of Section 7 hereof, has issued one or more
insurance contracts
(u) "Council" shall mean the Town. Council of the.Town of
Los Gatos
(v) Wherever, appropriate., words used herein in the
singular may include the plural, or the plural may be read as the
singular, and the masculine may include the feminine
SECTION 4. P,,N S10N BOARD CREATED.
(a) The Pension Board shall consist of five members, Two
members of said Pension Board shall be elected-by the participating
employees of the Town of Los Gatos by a vote of the majority of
said employees present at a meeting of said employees called by the
Town Manager for the- purpose of such election, at *dd ich meeting the
said vote shall be taken by 'a secret written ballot. The remaining
three members of said Pension Board shall be appointed by the .Los'
Gatos Town Council.
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(b) The
terms that the members of said Board shall serve
shall be as foll
ows
(i)
As soon as practicable after the effective date
of this ordinance, the Town ivlanager shall call a
meeting of the participating employees for the
purpose of electing the members. of the Board to
be elected by the employees, one , of which members
shall be elected for a term of one year and one for
a term of two years At the expiration of each
term so provided, the Tosm manager shall call a
meeting of said participating employees, sand, at,
such meeting, the said employees shall elect a
member to. serti:e` for a period of two -years and
until his successor shall.have been 'elected.
Removal of employee elected Board members prior
to the expiration of their respective terms shall
bemade only after a two-thirds vote by secret
ballot of the participating employees at a meeting
of said employees duly called for such purpose by
the Town P, an.ager, In the event of removal, employees
shall elect a successor by secret ballot at said
meeting to serve the balance of the unexpired term.
(ii)
As soon as practicable after the effective date of
this ordinance, the Town Council .shall appoint three
members of the Pension Board, one such appointment
being for `a `term of one year, one for a term of two
years, and one fora tern of three years.,. At the
expiration o . each such term the Totl Council shall
appoint a successor to serve; for a term of three
years. Each member shall serve until his successor
is appointed and qualified. A majority vote of
the Council shall be required to ' appoint a member
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_~~_s vote
ut a four-_ifit,
of the Pension Board, b ~
shall be necessary to remove from office prior to
the e~-,piration of his term any member of tr_e Pension
Board appointed under this section.
(iii) 'lembers of the Pension Board shall be residents of
this 1 oT,n. DTO person shall be appointed to the
board by the Council who hobs any salaried public
ffise or employment with the 01,1 of Tos
O ice ,
nor shall any such member, v-,rhile on the Board or 1 "or
a period of one year after his term has expired, be
eli Bible for appointment in the competit; ve service
of the Town of ?cos Gatos
(iv) An-Jr member of the Board may be elected or appointed I
to succeed himself,
(v) Any vacancy on the Board shall be filled by election
or appointment as hereinbefore provided, and the
-oerson so elected or appointed shall serve until:
the next regular election or appointment o members
of the Board.
(c) vo remuneration shall be paid to any member o f the Board.
for services performed as such; but any necessary costs, expenses or
disbursements shall be paid, by the Tol,mM in addition to its contribut-
ions provided for in Section 6 of this ordinance
(d) The Board shall elect, its own Chairman, The Clerk of the
Board., who shall be the 'I o Tri Clerk of the '„oven of Los Gatos, shall
keep regular minutes of all meetings' held by the Board, The Board
shall hold regular quarterly meetings' it the ' T 'own Council Chambers
at a time to be selected by the Board. Special meetings may be called
as required in accordance with I'Dection 5495.6 of the Government Code of
the State of California, Four members shall constitute a c,uorum ?-or
the transaction of business
(e) The management,` control and operation of the Pension Flan
shall be vested. in the Board, and the Board shall exercise the powers
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and perform the duties conferred on it by this ordinance, subject to
the limitations imposed by this ordinance; and the said po,,7ers and
duties shall include, but not be confined to, the follokATinge
(i) The board shall prepare, or have prepared for
adoption by the '-Coln Council a set of rules and
regulations governing the conduct of the Board
and. the administration of the Pension system,,.
(ii) In addition to any other records and accounts, it
shall deem necessary, the Board shall have the Clerk
of the Board maintain or have maintained such
records and accounts as shall be. necessary at any
time to establish the total accumulated contr.but-
ions of each member, to show the total benefits
paid to each pensioner and each beneficiary en-
titled thereto, and t.o show the benefits to which
members and their designated beneficiaries shall be
entitled under the provisions thereof, provided,
however,that, the Board shall not be required to
maintain, os have maintained, any records Y,&Lich would
duplicate records kept by any department or official
of the Town Government, or by any insurance company,
(iii) The Board shall report annually to the Council
as to its administration of the Pension Plan, which
said report shall include statements of the total
contributions made to the date of said report by
members and by the Town and the benefits to which
members and their beneficiaries have or will be-
come entitled under the provisions of this
ordinance.
(iv) The 'B'oard shall recommend to the Council and the
Council shall determine whether any employee is
a temporary employee or ari' employee employed on
less than a full-time basis, or other person
not entitled according to the provisions of this
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ordinance to become a member.
(v)
the Board shall have authority to determine
the amount and kind of benefit to which each member,
pensioner, and beneficiary is entitl titled under the pro-
visions of this ordinance and to determine the con,
sensation and lena-th of service of all members for
the purposes of this ordinance; and
(vi)
lf, ti,~±thin sixty (60)- days after the pension
effective date, at least seventy-five (755 ) per
cent of the employees qualified to become
members as of such date have not elected to become
members, the Board `shall have the right to postpone
the effective date of the Plan until such time as
seventy=.fi've (75%) per cent of such employees do
so elect; and, in such case, the Board shall have, J
the right to prescribe °a pension effective date,
entry dates and normal retirement dates for all
employees;,or'in its discretion, to postpone the 1
operation of the Plan indefinitely and to request
the' Council to repay all, employees any amounts
withheld from their compensation as contributions
under Section 6 of this ordinance.
(vii)
The Board shall make its financial records available
for periodic audit by the Town -uditor at such time
as other Tovm records are audited, or as required
by the Council
SI!,CTION 5. 1,; .`~T~sJ SII1P 111, PLAN
(a)
Every employee in service on the pension effective
date, who. has not attained age 65, and who is a member of one of the
employee groups
set forth in Section 45305 of the Government Code
of the State of
-California, provided the group of which tbxe employee
is a member has
approved the retirement proposal as provided for in
Section 45,303 of said Government Code, shall become a member as of
the pension effective date. !very employee employed by the oi-,mm
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after the pension effective date, which employee is in a participat-
ing employee'group, shall be required, as a condition of em-oloyment
to become a member on the entry date after he has completed one
(1) full year of continuous service, provided that, on such entry
date, he has not attained age 60; and every such employee shall be
required, at the time of his employment, to sign such application
for membership as the Board may require..
(b) Every employee qualified to become a member as of
the -pension effective date shall become a member by filing with
the.:Board, his written application for membership in such form as
the Board may require, on or before the said pension effective date.
SECTION 6. DOXT RIB M IONS.
(a) The 'o,,n shall make due and timely payments to provide the
benefits to which members are entitled under the ;Mari, as. -provided in
Section 7 (d) of this ordinance, of such amount of money as may b.e
necessary from time to time, according to the certification of the
Board, but not in eX cess of the limitations provided by the laws
of the State of California.
(b) each year, beginning with the year 1958, the Board,
between the first day of May and the 30th of July of such year
shall estimate the aggregate amount necessary to provide the benefits
to which members are entitled under the Provisions of this ordinance)
and shall certify suc'h aggregate amount to the Tov,rn 7'•iana erg
(c) Each qualified employee who' elects'to be a member small
agree, in his application for membership, as follows: Ti at,
commencing with the date upon which he becomes a member, and con
ti nuing until his normal or ear'! Ti retirement date, an amount eaual
to four (L ) per cent of hie compensation, before any deductions
as the same nay become nav ble, shall not be paid. to him by the To,.n,
provided, however:
ti) That such amo,.,nt so ~,,Tithheld shall represent the
contr bution. of the member toward the cosy.., on ~ -he
current service benefits provided by Section 9 hereof;
tit) That bNr making such deductions, the ToTnrn. stall
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reimburse itself to that extent for advances u'lade by
it for the account of the r?ember, and
(iii) That, upon termination of employment, such -nember~°
shall repay to the own a.iIT such advances for h ch
the lotion may not have been re ,ibursedo vot. '_th-,
standing any provisions of Section o hereof, no
li +e . .i i,~at ~e opl,. :.oyee rl.~~ -4;_t l bnef;c~ ~ar~T, s~_
'~al_l be
~~n_~_.;_ . a~__, or' r
entitled t o any sur.ri w'_riatsoever ";,.rt_l ,'_'le I o7,;n shall
have aeer_ reimbursed for any such advances _:1ade on
behalf of such em ployee
(c?_) Each member shall be deemed to consent, and agree, to
_ is contribution as made and Drovid.ed'' for herein, and steal' receipt i r
full for his salary, compensation: or w, ges. Payment of such salary,
;,age or compensation, less s~ id contribution, shall be a fell and
comolet, e dimchar ge of all claims and de-_~:ric!s ,ihat never for the
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sere, ces rev erect 'oy s to rn~ r~r~er du» n. tie period covered by such
payment,, except I- s claim to any. oen,e its; to w'nich he may be entitled
under the provisions of tr_iS or-'°dinancee
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F The contributions
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provided for by Section ;o of this ordinance shall be invested. as
follows
(a) Upon: the written request of t'r e Board, th Council shall
purchase, from designated life insurance companies, insurance
contracts of such kind an d in such amo,.)_nts as the bard may request
for the purpose of providing the benefits to T^.hi ch the members shall
be entitled under the provisions of erection q hereof.
(b) The Board shall use as the standard for measuring. the amount
01 any insurance contract purchased to provide such benefits, the
amount payable to each member under the settlement option contained
in such insurance contract which ;guarantees monthly payments of the
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normal rei,irement benefits to ,,:nzch the member is e~i _'led u. der
Section 9 hereof, at the early or, normal retirement date
and continuing` during the life of the member,,. rel-laNdless of such
other settlement options as may be afforded by such insurance ;contracts
and regardless of the possibility of -payments in the 'nature of
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di V4 In excess of the amounts guaranteed under the settle -
meat option used as a staidard.
(c) any dividend, refund or recovery due under any insurance
contract purchased in accordance v,-ith the provisions of this ordinance
shall be annlied to the payment of premium in the next succeeding -years
on all contracts held for the members and shall, in corresponding
amounts reduce the premiurris payable hereunder during; such years.
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(d) The Town shat-l pay, in accordance with the certification
by the Board under the zrovisions of Section 6 (b) hereof, all
premiums on all ii surance contracts pure .aced in accordance with the
provisions of this ordinance, such payments to be made as they
become due under the terihs' of such insurance contracts
SCh 0I~ GUAR.l' T Y:
(a) The payments by the Town as provided in this ordinance
are hereby made the obligation of t'_ne Town, subject to any limitations
imposed by the laves of the State of California. The Council shall
annually appropriate such amounts as are necessary to di schar~e the
obligations of the Town hereunder, in accordance with the cert_ficat-
ions made by the Board in accordance with the provisions of Section
6 (b) of this ordinance.
(b) The T ovrn, subject to any limitations imposed by laws of
the ,state of California, may at any time change, modify, amend or
repeal this ordinance or any part thereof in respect to future
obligations to any member. It is hereb;T specifically provided
however, and the Town hereby covenants and guarantees, that the
Tom's obligation incurred prior to such change, modification,
amendment or repeal, to pensioners, to members then eligible to
receive pensions under the provisions of -Section 9 hereof, or to
beneficiaries then entitled to receive such ber efits, shall continue'
in full force and effect as provided in this ordinance, and that
the Town's obligation to all other members at the time of such change,
modification, amendment or repeal will be a_ pension, at the normal;
r.eti cement date or early retirement date of each member equal to
the actuarial equivalent of the accumulated value of each member's
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-ontr4 bution s and the contributions of the To-,,tirr, made on Sys behalf
to such data, but without. further contributions from the 'Lov,m, except
such contributions as may be provided for by such change; modify c at? on,
amendment or repeal; provided; that nothin in this section shal".
obligate the `'ovoin to make any payments bejrond any limitations imposed
by the laws of the State of California.
ST I~~I 9. B IL S.
(a) The normal retirement benefits contemplated for every
member shall. be a monthly pension, to be :.)aid for life commencing
at'his normal retirement date, equal to the sum of the follov-n nga '
(i) For Current Service, after January 1, 1958:
An amount of Monthly income equal to one forty-
eighth (1/48th) of total contributions made by
the member while ;under the _plan.
(ii) For Past Service, before January 1, 1958:
If the member becomes a member as of January 1,
1958, one half of one (1/2 of 1%) per cent of
his monthly rate of compensation on January 1,
1958 multiplied by the number of years of his
service prior to January 1, 19518
(b) Upon the written request of a member:, filed with the
Board in such form as the Board and the appropriate insurance company 1
shall direct, the actuarial equivalent of his normal retirement
beneit, taking into consideration among other things the life expect-
ancy of such member, shall be payable to the member for a stated number
of yearsa or to the member as long as he shall live and after h:~s
death, 1n _monthly payments of a like or such si_laller amount as he may
elect, to such beneficiary as he may designate; provided, however,
that no such election shall 'be accepted by the >oard :unless it is in
accordance .?,rith settlement options offered by the appropriate
insurance company,
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_'vL v_d lvo 1 ri~1 1J1 OF
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(a % iuheY_ any member shall reach his normal retirement date
and shall retire from service he sha__1 be enL*Ltled to the benefits
provided in Se-t2,on 9 hereof i!1^ Board sh al1 take such action as
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i.2aTT be n`,GESSa ~r t0 ~rOTT1de f0~ ~l e pay.rAent of such benefits b
the anprOoriate insurance company.
(b1 '-TLf any member shall elect- to retire on his early re-
tirement date, he shall: be entitled to receive such proportionately
reduced payments for life as may be actuarily determined on the basis
of his contributions and the contributions made on his behalf by the
To-vi-r- to such early retirement date; and the Board shall take such
action as may be necessary to Provide for the payment of such benefits
by the appropriate insurance comicany,, either at said early retirement
.date or at a deferred 'retirement date as the Board may elect.
(c) Tt shall be a $'ull discharge of the duties he-re-ca der
of the Board' u,rlth respect to the payment of retirement benef-tS,
to deliver to the pensioner or retired member a -contract of i h e
appro-oriate insurance company -whereby such company agrees to make
the -oa.yr~,ient of benefits provided for in. Section a hereof.
(d) Tn the even'>t of the death of a member before ret'remer_t,
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there shall be paid to s1tcY) beneficiary as he may have des?gnated
a sum equal to `contributions made by such rnEm'oery under' the n~roir~ sioY_s
of t=_4 S ordinance, together with interest to the date of death.
This rate of 'nterest shall not be less than th,e rate of interest
uaralteed b"T the appropriate insurance company*
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~eJ Tn the event of a retired member' or oensionervs death
before he shat have received retirement benefits equal to the
'--ater of (i) the total amount of all his co, -ibc,.tions under the
Provisions of ..,his Ordinance' together ~ ti'? interest to tT?E date
of death at the rate determined in accordance V,,'it ! the Provisions
of subsection (d) of this Section l0y or- (ii ) the total amount
L,ayaiJ E to . said member and .A x11 Ef?E~fidry or be 1E!_? ,mar es ! n
accordance 'rith the settlement c-otion selected by such member
under the ?J'^OGTi SiOnS Of eCtiOYi 9 (b) Of this Ordinance, there s,
be iDaid to such beneficiary as he may have designated, the excess of
the breate_• of the said total amo.,nts over the total of all retirement
benefits .:1 i ch have been ;;aid to t1im at the time of his death.
(f) Tf the services of a :yen b e r s..c,-:ld be discontinued for any
reason T; i<?tSOever, e`,:cept retirement, death, authorized military
leave, or authorized leave of absence ,,,dthout nay, he shall be
entitled to receive, and shall receive, a sum equal- to the total
of his contributions under this ordinance, together ~.ti.th interest
to the date of termination of his. services to the ` o;ti7n at the rate
determined in accordance with the provi sior_s of subsection (d) of
this Secticn. 10. The said sum shall be paid to hire as promptly
as possible after the discontinuance of his service, provided, i ow
ever, that the Board shall not be liable to pay such sum until -he
said sum.has been paid by the appropriate insurance company Iy'
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however, the services of such member should be discontinued after
twenty years or more of service, at least five (5) years of ohi cry
shall be represented by current service participation in this Plan
but before his early retirement date or normal retirement date,
said member may elect within 30 days of the discontinuance of his
service, in such manner as the Board shall decide, not to withdraw
the amount of his contribution, with interest, as herein provided,
but, in lieu thereof, to permit his contributions to remain in the
Plan, and to receive a paid. up annuity, commencing at his early or
normal retirement date, of such.amoun.t as can, on the date of the
discontinuance of his service, be, purchased with the total of his
contributions and contributions mad e'- on hi7s behalf by the Town',
including contributions :for the -oast' service ;benefits; or., Tnrith the
approval of the Board, he may elect any other benefit i.,rh ch is the
actuarial equivalent of such paid-up annuity and which is available
under the appropriate nsurance'contract
(g) If any member, pensioner, or beneficiary entitled to receive
any benefits hereunder shall be 'physically or mentally. incapable of
receiving or acknowledging receipt thereof, and i f no legal represent-
ative has been',;anointed for him, the oard may cause any benefits
otherwise payable to him to be made to the person or persons designated
in writing by the member as authorized to receive and acknovrledge
receipt thereof on his behalf, and any payment so made shall to a
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com'o-Lete discharge of as_' 1=abilities in respect to such payment,
(h) Should the service of any imember be disccnti need -for any
reason except: death, retirement, authorized r.ilitary leave or
authorized leave of absence without pay and should payment be made
to h ice. it accordance with the provisions of this Section of this
ordnance, and should he again become an employee of the Town, he
small be considered, for all purposes- of this ordinance, a new employee,
and entitled only to the rights giver.,. by this ordinance to an employee
em?oloved after the pension effective date, and only from the date
of his reemployment
(J_) Should the service of a member be discontinued by reason
of authorized military leave or authorized leave of absence without
pay, the member shall witn-Ln 30 days of cessation of service to the
ToYs.n elect in such manner as the Board shall decide, M ether or not
to withdraw his contributions and applicable interest from the Plaza,
he shall be entitled to arid. shall receive a sum equal to the total of
his contributions under this Ordinance, to the date of termination of
his services to the Tovm., together with interest, at the rate
determined in accordance with the provisions of subsection (d) of
this Section 10. Should the member elect to receive, and receive
such sum, and should he again resume employment with the Town, he
shall be considered, for all purposes of this. Ordinance, a new
employee and entitled only to the rights given by this Ordinance to
an employee employed after the pension effective date, and only from
the date of his reemployment as an alternate to withdrawal from
the Plan, the member may elect` to permit his contributions and
applicable interest to remain in, the Plan. until such time as the
authorized leave shall expire. If the member so elects said alternate
plan neither the member nor the Totim shall make any further contribut-
ions to the Plan to the credit of the member, but all contributions
of the member and the Town, together with applicable interest,.
deposited, accumulated or• which will accumulate to the credit of the
member, shall remain in the Fund bending further disposition. C1pan
conclusion of said period of authorized leave, if the member has
elected to remain in the Plan, and if the member, ~%Tithin 3 months,
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resumes- regular employment with .the Town, he and the Town shall resume
making contributions -60 the credit of the employee and all services
rendered and all: contributions made prior to and all interest accumul-
ated prior to and during said leave shall remain to the credit of
said member.. Should the member not resume employment with the
Town within 3 months of termination of said authorized leave, he
shall be entitled to and shall receive a sum equal to the total of
his contributions under this,ordinance, together with interest to the
date of termination of leave at the rate determined in accordance with.
the provisions of subsection (d) of this Section 106 Should the
m,agib-er not resume employment with the Town within 3 months of term-
ination of said authorized leave and should said member have rendered,
before his early retirement or normal retirement date, twenty years
or more of service, at least five (5) of which were on a current service
basis under this Plan, the said member may elect within 3 months of
said termination of authorized leave in such manner as the Board may
decide, not to Zfdthdraw the amount of his contributions, with interest,
as herein provided, but in lieu thereof, to permit his contributions
to remain in the Plan,; and to receive a paid-up annuity, commencing'
at his early or normal retirement dates of such amount as can, on the
date of the discontinuance of his service to the. Town, be purchased
with the total of his contributions and contributions made on his
behalf by the Town, including contributions for the past service benefits;
or, with the approval of the Board, he may elect any other benefit which
is the actuarial equivalent of such paid-up annuity and which is
available under the appropriate insurance con.tract*
It is further provided that in the event an employee on authorized
military leave has previously elected said alternate plan to have his
contributions and applicable interest remain in the plan, and such
employee voluntarily requests an extension of his original term of
enlistment, service, or tour of duty with the Armed Forces of the
United States of America or with the Militia of the State of Calif-
ornia, and if he is accepted by said Armed Forces or said Militia,
and he has not previously been repaid his contributions to the plan
and interest thereon as herein provided, said employee shall in such
-15-
evert be deemed to have elected to withdraw from the plan, and said
employee shall be deemed to not be on authorized leaves and the
said member shall be entitled to and shall receive , a surr. equal to
the total of his contributions under this Ordinance, together with
interest to date of- the commencement of the extension of his original
enlistment, service or tour of duty, or to the date of his re-enlist-w
mment whichever is earliest in time, such interest to be at the rate
determined in accordance with the provisions of subsection. (d) of
this Section 10;
Should said member thereafter -resume employment with the Town,
h-e, shall be considered for all purposes of this ordinance as a new
employee and be entitled only to the rights given by this ordinance
to an employee employed after the pension effective `date and only
from the date of his re-ernploymente
It is further provided, however,.that in the event such employee
and member shall have previously elected said alternate plan to have his
contributions and applicable interest remain in the plan, and such
employee voluntarily requests an extension of his original term of
enlistment, service, or tour of duty with the Armed Forc.es,of the
United States of 'erica, or with the Militia of the State of
California, and if he is accepted by said ?=armed :Forces or said
Militia, and he has not previously been repaid his contributions
to the plan and interest thereon-;as herein -provided, and should
.
he have rendered,, before his early retirement or normal retirement
date, twent;j years or more of service, atAleast -five (5) of which
were on a, current services basis under this Flan, and such member
within 3 months of his discharge: from the Armed Forces or Militia
is re-employed by the Town, he shall be deemed to have resumed his
regular employment as upon the conclusion of Authorized leave and be
restored to all rights,.-and privileges as contained in this ordinance.
Should the member not be re-employed by the own within 3 months of
his said discarge, the said member may elect at any time prior to the
expiration of 3 months from his dischar!e from the Armed Fo--ces or
iVlili tia in such manner as the Board may decide, not to withdraw the
amount of his contributions, with interest, as herein provided, but
-lb-
in lieu thereof,. to permit his contributions to remain in the Plan,
and to receive a paid-up annuity, co~r2enci_ng at his early or normal
retirement date, of such amount as carp, on the date of the discon-
tinuance of his servioebe-purchased with the total of his con-
tributions and contributions made on his behalf by the T of%m-,
including contributions for the east service benefits, or, with the
approval of the Board, he may elect .any., other benefit which is the
actuarial eauivalent of such- paid-up annuity and which is available
under the appropriate insurance contract.
S);L'TIOV 11. iPbOYJFS OV_'R I;AX MTV \ AGE FOR l~_i,~ P~SHIPo
__:w (a) If an employee, otherwise eligible for membership in
the Pension Plan has attained age of on the ?pension effective date,
he shall, comL--nencing thirty (30) days from the date of his retirement
from service, be entitled to receive, and shall receive, a monthly
pension for life in an amount determined by the Council, but not
exceeding X 30.00 per month, the said pension to be -paid by the T av.m
- without `contributions from any such employee
(b) The Board shall annually estimate the amount required for
the payment of any pension to any retired employee entitled to pension
under the provisions of this section of this Ordinance, such amount
to be in addition to all other amounts to be estimated by the Board
under the provisions of this Ordinance, and said amount shall be
certified by the Board to the Town Manager, and all such pensions
shall be paid in monthly installments by the Town in addition to
other amounts required to be paid by or on behalf of the Town under
the Drovisions of this Ordinance
i?m: LXL-"iPTIOxV HJ~Oj 11-2,CLTTION,. The right of a person
°s CTI'v'N
to a pension, to the return of contributions, to any optional benefit,
or to other rit_ht accrued or accruing to any person under the pro-
visions of this ordinance, and the moneys constituting contributions p
under this ordinance shall not be subject to execution, garnishment,
a%tachmenA or any other process ir_hatso ;per, and shall be -i sign--
ab_le except as in this ordinance specifically provided.
Noty, ithstanding anything to the contrary herein, if a par-u-
-17-
w
Ct 1erZ i se indebted
_C i7 'sI25j, t'?Tl JlC rP CCi C;^%S G"1 0, jvn, 0-1 1,
u.Cii atlo s ov,,,ing
t0 the CU",i 1, t'le C: ".m st=all c.vc^ 1i st 14en for
t o -L to the eeXtent; of t e ;C art3_c a pat- ing e-n-1 oyee' S .rested ri g tS
si a.t2
, p r` it s o r o vi -.aa e u i e_ , r. o s n 1.t n -vo i E) n i ^ such 1 r r
~r o e n e
._r , I ~_c;.C J, us are not
-1 U
- u _i 'j Oa'_.d ~o ~hc C':n C;7 O^ ±;efore t^e a2,:tie on Z\IA_. h the. 1:~c'a~'tf - patino'
ioaymeY? i. ..of any
ef;p 'See v; r.'yvtiS I.J ei e:-P1 i1C.i y becomes eii"i-held to the
e e l i s In e^ Y ~ e -L- lea a bat c e -hen v v~ ` mr ' a t l'? e "own shall
Ce 1.~..st o a ii -o --PC .t_ e a,-1.dl r l utioi2s a."`,- G_Qe o the, rai
_ c ~ Jv inn rt.ll l ogee o h b e_J C_cJ~
_
r The
L;I\I 11'1 '.J •l(~_LTi J- i> i_, 1.>p o"✓ i i. i r c.'T i J'n. t P Y' G ;I into t- i y. e c J-
C_ _ If nC-:'..!_Ce GC ei 01v vanu_ ry 15, under -he rovi moons o >e t onS
Of _ ' t ~ C f
„ l O~P. L_y- C__ v ! i C~_2
13775 C_ he :Dv =m
tv OT e C.: C
o e. -r a J' 7 o e-:mplo eeS l,_e^ the _eCl '7 al 1~,ia_
Se C," i L~~ _ti, r'y n'yr"n~bZT e_`Ti ,.~'?JrS provided that the t~ 1 an r;Cxv be
-mia,d` - eCi or ."haT1-e in an-,..,- Imp t:? CCCidi-i_'_atie t.-I, with 8_n _ `;;tre
men - - ; e n'C' s v'0 .r.. S a ~ e cz C T--✓ 'or -:it_l~:. . an%' r
- Gt:... t" , -
iC. Federal la^ ."T n P ~'ea - -
i;~
c,
to r)rovii, Je ola' age ter_efitS, oI 4vit2 m-.Y ? avv enacted by% the ler tu-'e
C~ the tatE Or cil OiYl?a to CViQ'e C1C ei!e"its~
r.G_ ION l1 vi4 . ST ylm y 10 an tieCt1CT1, or eci, ons,
or Dart, C' any Section ofr ti _ r' :ra___~-_a shall b~ e f,✓;z.Iu. ~ ✓o be d~. ~~tc.,...i-
_ce on_
St ? t?.J_tlCnal or Cn v a ± _d; -L or, aany reason, the 1 e a1 . P_.S C th e Cr Cli ante
sha._l not Tide rieryT be Invalidated, but sInyal _l i "F;ic`~i ' ~ c'nJ.,_,ce
i1 ~ i:._~y
eJ f ec v~
vim %1~\: 1va);1, i J1~~r___~!7 or. 1 a vewS and :ic2.ttS _
;V r• Ca !Cnc,=2CeS y-sofe a_s ti e'% G=' -1st u:' ~h tIi'_yc or 1Ylc`lA'cP, are i2nr ,,T
,jealede
v!: a1_'y;~ V loo ! _.._.~..\7~, _LuceC! at c_ re>- -,:._lai meet.-inc• of the,
rCvTn lyirJu'?cC. t1,_e 0,M11 .011 o_- Gatos, "tote ~alirOrrllc, Flrl on
t?2e
25th -lay of 1~over.Iber
~~1
S
-f
1M1,ue~i sl .iJ PT '"D aS a:.. rd? dance Of t he OS.^iri of T Os GctOSg
State of va.lifornia., at a re-zular meeting of the o4;gin vouncil
thereof, held on the grid day oI' December
by the -following vote:
AYES, Si, and in IaVO thereof; C;'T` viLi
H. F. Boone
1^~m. 0. Graham
James A. Stoops
James F. Thomason
Alberto T'-Terrill
iJ0 B: COU ;CiLi~L_T~I: None
,,BSElv1 : COU"lLl None
l I1_ `loll. "10:11W C,- -V f`ll`y ~ t: n V~y
.L`? 1 t GV I~ ~ Sl'c..: ii.. 8'..
2Lr TL ST
d
C ~1 LL.1 ~ i ~i rl OF L11il a .1 OS
~19~