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AN ORDINANCE <br />• AMENDING AND REORDAINING <br />SECTIONS 19-96,19-101, 19-104,19-105, AND 19-139 <br />OF THE CHARLOTTESVILLE CITY CODE, 1990, AS AMENDED, <br />TO CHANGE THE PENSION PLAN FORMULA, AND <br />TO EXTEND CITY -PAID MEDICAL COVERAGE TO RETIREES <br />HIRED AFTER DECEMBER 31, 1984. <br />BE IT ORDAINED by the Council of the City of Charlottesville, Virginia, that Sections <br />19-96, 19-101, 19-104, 19-105, and 19-139 of Chapter 19 of the Charlottesville City Code, 1990, <br />as amended, are hereby amended and reordained, as follows: <br />CHAPTER 19. PERSONNEL. <br />ARTICLE IV. SUPPLEMENTAL <br />RETIREMENT OR PENSION PLAN <br />Sec. 19-96. Same - Allowance. <br />(a) Upon service retirement on or after 84 July 1, 1997, a member with <br />• creditable service which commenced prior to Jan::a��984 July 1, 1997, shall receive an <br />annual retirement allowance payable monthly to him for life commencing on the first day of the <br />month coinciding with or next following his date of retirement, in an amount computed as the <br />larger of (1) and (2) following: <br />(1) The excess, if any, of two (2) percent of such member's average final <br />compensation multiplied by the number of years of his creditable service, over <br />two and one-half (21//2) percent of such member's annual primary social security <br />benefit, multiplied by the number of years of his creditable service up to a <br />maximum of twenty (20) years. <br />(2) One and thirty-five hundredths (1.35) percent of such member's average final <br />compensation multiplied by the total number of years of his creditable service. <br />. <br />• <br />�arfer�n . <br />.• <br />.. <br />...... <br />......MON <br />M. <br />