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r AN ORDINANCE • TO AMEND AND REORDAIN SECTIONS 20-17, 20-19 AND 20-26 OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1976 RELATING TO VALUATIONS AND REPORTS, DEFINITIONS UNDER THE CITY SUPPLEMENTAL RETIREMENT PLAN AND THE EFFECT OF TRANSFERS OF EMPLOYMENT ON RETIREMENT ALLOWANCES BE IT ORDAINED by the Council of the City of Charlottesville that §§20-17, 20-19 and 20-26 of the Code of the City of Charlottesville, 1976, be amended and reordafned as follows: SECTION 20-17. Valuations and reports. The retirement plan commission shall, through the city treasurer, not later than Febpuer-y-88 August 30 of each year, make an annual report to city council on the condition of the retirement fund and the retirement plan as of the preceding Jantta�y� }- June 30th. Each such report shall include the results of an actuarial valuation of the assets and liabilities of the retirement plan, made not less frequently than biennially, and a statement of the amounts to be contributed by the city pursuant to section 2-20 of this Code. The report shall also state the cash receipts of the retirement fund for the previous year in detail, an itemized list of securities bought or sold with the price paid or received and a detailed list of all assets of the fund. The report may also contain • any recommendations the retirement plan commission desires to make concerning changes in the code with respect to the retirement fund or the retirement plan. To assist it in its discharge of its responsibilities under the provisions of this article and Article III of this chapter, the retirement plan commission may employ an actuary as its technical advisor and incur such other expenditures as it deems necessary for the efficient administration of the retirement fund and the retirement plan. SECTION 20-19. Definitions. As used in this article, the followingwords and phrases shall have the meanings ascribed to them by this section, unless a different meaning is plainly required by the text: Creditable service. For any member who is in service at any time after July 1, 1975, his total service as an employee, whether or not continuous, that was rendered prior to his attainment of thuge e sixty—fide; normal retirement age, exclusive of any separate period of service of less than nine months duration. but inclusive of official leave for military service, to the extent required by Federal law. Creditable service shall be counted in terms of years, with completed months of creditable service in excess of complete years being counted as a fractional part of a year. 0