Ordinance 1064ORDINANCE NO.1064
New Series
AN ORDINANCE AMENDING ORD-
INANCE NO. 673 1R1.. S. ENTITLED
"AN ORDINANCE ESTABLISHING
A RETIREMENT, PENSION AND
INSURANCE SYSTEM FOR OFFI-
CERS AND EMPLOYES OF THE
CITY OF ALAMEDA", BY AMEND-
ING SUBDIVISIONS (a) AND (b)
or SECTION 13 THEREOF.
BE IT ORDAINED BY THE COUN-
CIL OF THE CITY OF ALAMEDA:
Section 1. Subdivision (a) of Section
13 of Ordinance No. 673 M S. is hereby
amended to read as follows:
(a) Should the City service of any
member be terminated prior to the
completion of ten (10) years of serv-
ice, except by death, and without the
right to any retirement allowance un-
der any of the provisions of this ordin-
ance, the amount of his accumulated
contributions shall be paid to him
within six (6) months after the termin-
ation of his service. Any member who
shall become entitled to a retirement
allowance under any of the provisions
of this ordinance may, before or at
any time after an order for his retire-
ment is made by the Retirement
Board, but before the first retirement
allowance payment becomes due, make
a written request of the Retirement
Board that his accumulated contribu-
tions be refunded to him. In such case,
the amount of such member's accumu-
lated contributions shall be paid to
him within six (6) months after the
termination of his service, and the
right of such member to a retirement
allowance under any of the provisions
of this ordinance shall thereupon cease
and determine. The corresponding
amount of contributions made by the
City shall thereupon be included in
funds available for prior service and
other obligations of the City hereunder
and be retained for such purpose, un-
til the amount accumulated in the Re-
tirement Fund, together with the actu-
arial present value of the future con-
tributions of the then existing members
and the matching contributions of the
City become at least as large as the
net present value of all amounts there-
after payable from said fund on behalf
of the then active and retired members.
Section 2. Subdivision (b) of Section
13 of Ordinance No. 673 N. S. is hereby
amended to read as follows:
(b) Should the City service of any
member be terminated after the com-
pletion of ten (10) years of service,
except by death, or by the granting to
him of a retirement allowance under
any of the provisions of this ordinance,
such member may elect, in writing, to
leave his accurnulated contributions in
the Retirement Fund and be granted
a Deferred Retirerriont allowance to
become effective, upon the written
request of the member, at any time
after the member has attained the age
of sixty (60) years, but in no event
later than the first day of the month
following that in which he attains the
age of seventy (70) years.
Section 3. This ordinance shall be in
full force and effect from and after
the expiration of thirty (30) days from
the date of its final passage.
FRANK P. OSBORN,
Presiding Officer of the Council
Attest:
SHIRLEY 11. TENNIER
City Clerk.
1, the undersigned, hereby certify
that the foregoing Ordinance was duly
and regularly adopted and passed by
the Council of the City of Alameda
in regular meeting assembled on the
19th day of August, 1952, by the follow-
ing vote, to wit:
AYES: Councilmen Anderson, Bran-
scheid, Jones, Sweeney and President
Osborn, (5).
NOES: None.
ABSENT: None.
IN WITNESS WHEREOF, I have
hereunto set my my hand and affixed
the official seal of said City this 20th
day of August, 1952.
(SEAL)
SHIRLEY H. TENNIER,
City Clerk
of the City of Alameda
Publish Aug. 21, 1952