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other perquisites, the city manager shall fix the value of the part of the compensation not
<br />paid in money. Notwithstanding the foregoing, creditable compensation taken into
<br />• account for purposes of determining benefits under the plan shall be limited by the
<br />compensation limit pursuant to Section 401(a)(17) of the Internal Revenue Code of 1986,
<br />as amended. For purposes hereof, the compensation limit, for years beginning on or after
<br />January 1 1986 but before December 31, 1992, is $200,000 as adjusted by the cost of
<br />living adjustment factor prescribed by the Secretary of the Treasury or his delegate under
<br />Section 415(d) of the Internal Revenue Code of 1986, as amended, the "adjustment
<br />factor and for years beginning on or after January 1, 1993, is $150,000 (as adjusted by
<br />the adjustment factor in $10,000 increments on the basis of a base period of the calendar
<br />quarter beginning October 1 1993). For purposes of applying the limitation applicable to
<br />each year, the limit for a plan year shall be the limitation in effect for the calendar year in
<br />which the plan year begins determined without increases in the limitation for subsequent
<br />years. _
<br />Creditable service means, for any member who is in service at any time after July 1,
<br />1982, his total service as an employee, whether or not continuous, exclusive of any
<br />separate period of service of less than nine (9) months in duration, but inclusive of
<br />official leave for military service, to the extent required by federal or state law. Creditable
<br />service shall be counted in terms of calendar years, with completed months of creditable
<br />service in excess of complete years being counted as a fractional part of a year.
<br />For any employee eligible to retire pursuant to the provisions of section 19-95 (a), (e), (g)
<br />or section 19-100 of this chapter, creditable service shall include, for purposes of
<br />• computing the retirement allowance, one-half (1/2) of the employee's accumulated and
<br />unused sick leave as of the date of retirement, up to a maximum of two thousand (2,000)
<br />hours.
<br />Employee means any person who is employed by the city on a full-time, year-round
<br />basis, whether paid by the hour, week, month or otherwise. Such term shall not include
<br />any person, judicial, professional or otherwise, employed either on a part-time basis or on
<br />a seasonal basis; nor shall it include any official elected by the people or any person
<br />employed in the office of such official; except, that it shall include the commissioner of
<br />revenue, the city treasurer, the city sheriff, the clerk of the circuit court, the
<br />commonwealth's attorney and their full-time employees. Such term shall not include the
<br />employees of any office, department or agency which participates in the Virginia
<br />Supplemental Retirement System, regardless of whether such office, department or
<br />agency is funded wholly or partly by the city; provided, that any clerk or employee of the
<br />district court employed in such capacity on June 30, 1973, who elected not to participate
<br />in the Virginia Supplemental Retirement System shall continue to be considered an
<br />employee, for purposes of this article only, and be eligible for benefits hereunder to the
<br />full extent of his salary. Such term shall include the employees of any multi jurisdictional
<br />agency in which the city is a participating jurisdiction, when such employees are not
<br />covered under the Virginia Supplemental Retirement System, or in any other retirement
<br />plan, and when the city has contractually agreed to include such employees in the
<br />M&V 777871
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