Laserfiche WebLink
• AN ORDINANCE <br />TO REPEAL §§2-200 AND 2-202 THROUGH 2-219 OF ARTICLE <br />XVI, CHAPTER 2 OF THE CODE OF THE CITY OF CHARLOTTES- <br />VILLE, 1965, AS AMENDED, AND TO ENACT IN LIEU THEREOF <br />NEW SECTIONS NUMBERED 2-219.1 THROUGH 2-219.19; <br />THE ADDED AND REPEALED SECTIONS RELATING TO THE CITY <br />SUPPLEMENTAL RETIREMENT OR PENSION PLAN AND <br />ESTABLISHING THE TERMS AND CONDITIONS THEREOF. <br />BE IT ORDAINED by the Council of the City of Charlottesville: <br />I. That §§2-200 and 2-202 through 2-219 of the Code of the City of Charlottesville, 1965 <br />be repealed. <br />2. That the Code of the City of Charlottesville, 1965 be amended by adding, in Article <br />XVI of Chapter 2 thereof, new sections numbered 2-219.1 through 2-219. 19, as follows: <br />SECTION 2-219. 1. Definitions. <br />As used in this article, unless a different meaning is plainly required by the text: <br />1 • Actuarial equivalent means a benefit of equal value when computed upon the basis <br />of such actuarial tables as are adopted by the commission. <br />Appointing authority means the city council in the case of city council appointees; <br />the commissioner of the revenue, the city treasurer, the city sheriff, and the clerk of the <br />circuit court in the case of their employees; and the city manager in the case of all other <br />members of the plan, except for the aforesaid elected constitutional officers. <br />Average final compensation means the average annual creditable compensation of <br />a member during the three consecutive years of creditable service in which such <br />compensation was at its greatest amount. <br />Beneficiary means any person entitled to receive benefits under this article. <br />Commission means the retirement plan commission provided for in section 2-219.1 <br />of this code. <br />Creditable compensation means the full compensation payable annually to an <br />employee working the full normal working time for his position exclusive of overtime. <br />The creditable compensation of an employee paid on an hourly basis shall be computed at <br />