OCR Text |
Show in here- - pated that at sometime in the the fund - Said his lesser retirement allowance return of any contribution (e) Equipment ft us obligations itrle. 'dual employ stub oilier peisonmT or d' i rued togr'Se" wi,h reguhn inpaid to and throughout the to or any other right accrued or lure the State of Utah, or other an ,j!t i,.'.. as ill ,V I" ii'i.K.iiii '.Kill'd hy an may establish necessary to the administration ot terest m transportation equipment terest thereon shall be held in lifetime of such beneficiary as he accruing to any person under the public agencies, shall nominate by written desig- - provisions of this ordinance and pension systems which will be with.n th ( ni- - tiu-- t for the payment of the bene-come a participant of the retire- the fund, includi ng, but not limi- wholly or in part of to the nation duly executed and filed the assets of the fund created available for the employees counselors, ted States which carry the right fi s provided for herein ted to, investment LEGAL NOTICE ment system as herein provided or his beneficiaries. with the retirement committee 'hereby shall not be subject to this City. The right is reserved and accoun- to receive determined portions of medical exm.neis or Retirement Fund (l) at the time of his election. alienation or assignment by the by the City to make such amend Each member shall be deemed tants and actuaries and attorneys rental, purchase or fixed obligaORDINANCE No. 227 fund shall mean the "Brigham ad- - tory payment to be made for the to consent to the deduction from ot field ments or changes in this Plan or in nsion the trained p An Ordinance Providing for the City Employees Retirement Fund enter into such method of termin- attachment, execution, ministration and planning; cleri- - use or purchase of such transpor-ca- l his compensation of the contribu- - die within thirty days of the date Establishment and Maintenance provided for herein se-that provided and other assistants as may tation equipment, provided herein. The pay- - of retirement or before the pay-- ; ment or any other legal equitable ation as may be necessary to of a Retirement System for the shall mean be necessary to accomplish not are the of the said cure of said employ the of less (m) process, ment a coverage Beneficiary ment obligations receiving retirement allowance, compensation of Officers and Employees Briga purposes of this system. to less than one of the following ra- - payroll deductions shall be deem-- 1 whichever is later, any election! SECTION 19 1. INCAPACITY: ees of the City under such State ham City, Utah, Providing For any person entitledor receive rebenefit other retirement any ed a full and complete payment shall be considered void and the If any member or other benefi-o- f or other public employment author-j Engs or better: (k) The Committee may the Payment or Retirement, benefit herein. the salary of said employee. BBB shall provided considered death be to receive benefits tirement plan. The City, however, entitled as Fitch a that or subcommitte Rating ciary its Crednector. and Other in; Benefits; Death, BAA shall mean of its members, to perform rouContributions hereunder shall be physically or reserves the right by means of SECTION 12.1. EMPLOYER iofa member before retirement. Moody Rating ating a Retirement Committee the(n)contributions Bl Plus of both of Ptxir and the 'CONTRIBUTION: Standard as City such retirement The shall election Said must be exercised mentally incapable of receiving any such transfer to make provitine acts, and a Retirement Fund; ProCity of Retue-men- t this for member or benethere-plan and the of or the members sion into Preferred any guaranteed pay into the fund such amounts by retirant prior to the payacknowledging receipt (f) members and the fixing viding for Contributions ThereFund. fit amounts necessary to the ad- - stcok or shares of any solvent cor- of money as may be necessary ment to him of any retirement al- of, but no legal representative has to receive any benefits then acto by the City and by the Covbeen appointed for him, the Com- crued to him from said State or shall mean the num- - ministration of the system in poration or institution created or fiom time to time, according to lowances. (o) "Age ered Employees. Uniof the laws the under ordinance this with of the of full cordance existing the certification ber have that Committee, BE IT ORDAINED BY THE CITY, elapsed SECTION 15. E BENEFICIAR- mittee may cause any benefit other public employees system. years SECTION 21.2. AMENDMENT: COUNCIL OF BRIGHAM CITY, between the date of birth and the, with icgulation adopied by the ted States or of any State, district to provide the benefits to which IES: The designation of a benefi- otherwise payable to him to be or territory thereof, provided that the members and their benefi-ria.te- s to such one or more benefi- Nothing herein shall be so conot the date of birth Committee. paid UTAH: the under retirement anniversary sysciary are entitled under the tem, other than designations un- ciaries as may be chosen by the strued as to limit the power of SECTION NAME: This ordi- - neaiesl to the date as of whKhj Acts ot the director or of any said stocks are receiving not less of the one than following determined Plan. ratings is be ut suh-shall i being nance and the retirement system age oininiiti'v rently der Options and 2 of the pre- Committee from among the bene- the City to amend this ordinance If any, designated by or to amend the retirement sysficiaries. (pi "Normal retiiement age in rig, itcil to the ( ormmttee and 01 better: Commencing with the effective ceding section, may be revoked hereby created shall he known , the institution tem, nmd.ti-cutiuI itch Stoik Ratings BBB .. and cited as the subject always, however, to Jite of this ordinance and until the at the pleasure of the member the participant, Brigham City' the t use of male membeis of the shah he Mibjeit to leVK-Wthe and the limitation that no such amendBAA the shall maintaining Stock mean attained svslem Commitparticipant i evei sal hy the ut Svslem certiMoody difRetirement Ratings committee has a irtiiement the designation and Employees making BI Plus fy J MudilK alum ut reversal ot Standard and Poor ye.ns; in the (use tee SECTION 2.1. PURPOSI some The, age of sixty-tiu- other contribution ferent beneficiary designated by his spouse, children and other ment shall have any retroactive ot fimale membeis ot the ulne-rnen- t . V ait ot said ihieito! or common amount as being requiied of the a written (g) instrument duly execu- relatives by blood or marriage. eftect so as to deprive any mempurpsoe of this ordinance is to the shail tie ellertive fiom slinks or shdi es of any solvent ( .tv, the City shall contribute to ted and filed with the Committee. Any payment so made shall be ber of any benefit already vested. a financially sound sWim system, it shall mean liatin- date tixed by the Committee, years for the payment of retireinen attained age of MX'v-tw22.1. SEVERABILtoipor.dion or institution created t m fund an amount equal to five If no beneficiary is designated or a complete discharge of all reSECTION in the under bility system (q) if the estate is the named of the compensatRegular mtciest" shall but no henelit payment nude or existing under the laws of the per cent death or other benefits to the of ITY: If any section, beneof such payment. ticers and employees and to the mean interest compounded annu- pnor to tlie Committees action United States or of any State, ion paid by it to the members ficiary and if a deceased mem- spect sentence, clause or phrase or porSECTION 20.1. MILITARY tion of this ordinance tuct or territory thereof, provid- - tor covered services. beneficiaries of officers and cm-- , ally at such rate as shall have shall he utlected thereby ber does not leave an estate reis tor any ployees of the City, thereby en-- , been adopted from tune to time for such recovery from the reel- ed that said stocks are receiving SECTION 12.2. TIME OF PAY-M- I quiring probate in the absence of LEAVrE; Any member who has reason held to be invalid or abling such individuals to prmide hv the Pension Committee. NT: The Citys contributions the amounts due from the retire- entered or enters the Armed Forcpient beneficiary us the Commit-- j not less than one of the following by a decision of any for themselves and for then de-(r) "Accumulati d ( ontnbutions tee mjy expi essly direct ment system, all benefits payable es of the United States or who court of competent jurisdiction, ratings or better: and the employee contributions, ut shall mean conin'the sum all is was to or an transferred agen- such decision shall not affect the ... B Fitch Stock Rating pendents in case of old nee and st.C I ION 5.5. RECEIPT OF IN withheld as above provided, shall from the retirement system, i B cy of the United States Govern- validity of the remaining portion acthe! Moody Stock Rating To death, and effecting economy and buttons made by a member and FORMAT ION: retirement benefits, enable he paid into the fund in such man-m- i B efficiency in the admin'stratton of credited to his acount in the fund, Committee to perform its tunc-- , Standard and at such times as the City crued but not received prior to ment for the period of a national of this ordinance. interest lion, the the affairs of this City hy furnish- together with tegular of council may prescribe. the death, may be paid or applied emergency directly from covered shall supply full and It is the intention of the City (hj Any insured accounts City ing an orderly means whereby! thereon information to the Com-- ; building and loan associations and SECTION 13.1. NORMAL RE- to the benefit of the surviving employment shall be conclusively Council that each separate provitimely I El 41. I.CTIVE abbeSECTION who h:ie such employees, to anv mutual investment trusts or TIREMENT BENEFITS: The nor- next of kin of the deceased in the presumed to be on leave of millet? on all matters relating sion of this ordinance shall be A i etirement system ,s Uiu come aged, may without hardship DATE: order of precedence below listed: sence and continue as a member deemed independent of all other ()f a mal contem,heir funds. benefit retirement partic,pallts, of1 of the system, provided he returns or prejudice be retired from ac- hereby created for employees 1. Surviving spouse; LIMITATIONS plated for every member of the SECTION 7.2. retiiement, death and other causprovisions herein. Brigham City commencing on the es of termination of employment UPON INVESTMENTS: covered employment within tive service. 2. Surviving children share and to efSECTION 23.1. EMERGENCY: on the The re commencing system, effective 1, 000. of date to of May the City The contributions ninety days of the date on which The City Council of Brigham City share alike; and such other pertinent facts as tirement committee shall not have fective date of his retirement, 5 SECTION ADMINISTRAthis system shall be deemed to be 3. Parents share and share he shall have the right to release find and declare that it is necesthe Committee of shall be a monthly allowance payrequire; the at any time any combination The retire Committee shall may from such service or from the compensation paid lo the covered TION OF SYSTEM: alike; advise the Trus- investments in any one institution, able to the participant for the refor the immediate preservain the event of service sary 4. Grandchildren hospital employees and officers for their ment system shall be administer- tee ot such of the foregoing facts agency, share aland of his tion of the peace, health and safelifetime. Said mainder or political corporation ed the Pension of form by without This caused which current services. Brigham City disability share alke; as may be pertinent to the Trus- subdivision aggregating an amount lowance shall be an amount equal ty of this City that this ordinance 5. Brothers and sisters el s become effective compensation is deemed by the Committee in accoi dance with the tees administration of the Plan. employment of his final cent (15) to one per cent equal intervening fifteen immediately. exceeding per City Council to be a means where provisions hereof shares. 24.1. SECTION EFFECTIVE 6.1. RETIREMENT of the assets of the retirement monthly compensation SECTION multiplied SECTION 5.2. COMMITTHE effectiveand the In the event that the whereefficiency 20.2. by CONTINUED DATE OF ORDINANCE: This orSECTION number of service years The Committee shall con FUND: A fund is hereby created system, nor shall it have any com by the ness of the City shall be enhanced TEE!: abouts of the nominated MILITARY LEAVE: Such leave dinance shall take effect upon the benefito be known as bination of investments in any one that he has completed on the and as the result of the encourage- sist of not less than three nor the estabilhsed cannot be ascertained or in of abence shall continue from his date of its first publication. date of his retirement, ciary Refrettve twenty-fivexceeding City per Brigham Employees more than seven members, as the ment that this- system provides the event that the nominated ben-o- f date of entry into said military ot the asset ot the re- SECTION 14.1. RETIREMENT: Passed and adopted and orderfund. It shall consist cent for the covered employees to be City Council shall fnnn time to tiiement the de- or government service to the ex- ed published by the City Council eficiary is the estate of 'I member the it in iction his ot In enumt resti all into Any may moneys system system. paid alert in their duties and to re- tune determine, all of whom shall above-statenine- of the retirement piration of the person, the benefits ceased of shall not apply to investments in retii e and receive with the provisions Brigham City, this 16th day of be selected by the City Council main in the employ of the City. when he retires committee may 'at its discretion ty days from date of said right July, I960. of the United above the this whelhei ill provided obligations general ordinance, from officers of and employees DEFINITIONS: SECTION 3.1. pay the cost of the deceased last to discharge or release or until his if: RUEL M. ESKELSEN, Until such time as the for in of cash, seem lies or other States ot Ametica or of the State ,tiom active coveied service is the City Unless a different meaning I He has attained or exceeds illness, convalescent care and fu- earlier return to covered employ1 tie City insured of to nor shall Utah in assets, reaMtrer deposits Mayor. (a) Council shall bv resolution Bity the following required, plainly neral expenses directly to the un- ment. However, if any such mem- ATTEST: ot building and loan association ac - normal retirement age; and be the trustee and custodian words and phrases used in this or-- determine otherwise, the Cnmmit-dinancre-- i counts and to investments in mu-(b) He has completed the Re- dertaking establishment, hospital, ber indicates in writing his desire Fannie J. Christensen, three the fund and shall have the shall have the following tee shall he comprised of or convalescent home, to return to the employ of the Not number of years of cover-.suu- i doctor more tual tnr the of trusts. investment City Resorder. lowing sponsibility safekeeping membeis: The Mayor, which has provided said service. City within said ninety day per- STATE OF UTAH, meanings: d to an than amount include which shall all service, turn!, depending per fifty equal two each of whom City or employees, "Retirement System (a) The Committee shall require veri- iod, but establishes to the satisfac- COUNTY OF BOX ELDER, ss: and cent (3(1 ) of the assets of the time of his retirement: bonds, s curities shall mean the Brig- are respectively membeis of the money, system, No. of Years fied statements of said charges tion of the Committee that his All money in Time of shall be assets. other I, Fannie J. Christensen, Recorthe retirement system of system. Original appointment ham City Employees Retirement of Service before making partial or full pay- - physical or mental condition tem- - der of Brigham City, Utah, hereby Retirement admtnis - ied in common stock. gh.jij fund shall be deposited, reSystem created by this ordinance. members of the Committee thereof. ment him from Such disables shall payment porarily and disbursed as a Special certify that the above is a full, SECTION 8 OF If he retires on or bePAYMENT (b) City shall mean the City be for such terms as the of the turning to employment, the 8 years discharge the obligation Trust Fund of the City for the EXPENSES. true and correct copy of an OrdiThe City Council fore May 1, 1965 Cnuncil shall determine. Apnmn-- , of Brigham City. and of the fund up to the iod of such disability shall be nance of Brigham City, Utah, enof If he retires after purpose ot carrying out the objec- - shall provide for the payment tees shall serve until successors mean a shall (c) Employee so paid. ed to said ninety day period. 15 years An Ordinance lives of this oidm.inee W ithdraw-- a administration expenses of the May 1, 19C5 titled, Providing regular full time employee or ap- have been appointed and quali- aK may be nude theietrom by Committee SECTION 20.3. TERMINATION for the Establishment and MainBE-- j SECTION 16.1. benefits DEATH shall Said retirement it which shall tied approve, who officer, performs pointive LEAVE: on FORE RETIREMENT: Any tenance of a Retirement System Upon the 0F MILITARY SECTION 5.3 MEETINGS The' the City Ti ensuin' subject to tncluding. but not limited to. the! become payable commencing covered services for the City and s death of a member before the ef- - member on uch leave of absence for the Officers and und control ol the retue-men- t pavment of the costs id actuarial the efiective date of his Employees of who receives as compensation Committee shall annually at the from active covered service, fective date of his retirement or shall continue to remain a mem- - Brigham City, be ment and committee consul-Utah, fees of may and Providing special icunded meetin thereefor Fifty Dollars ($50 00) ord'rst officially before the date upon which a re- - ber during said period. for the Payment of Retirement, SECTION 14.2. SERVICES elect u Chairman and a Secretary made bv check or such other turns, trained tn the held of in-more per month. If such member does not return Death, and Other Benefits, Creatacmeans as shall he deemed or pension I BR RETIREMENT AGE: In the tirement benefit shall have been insurance (d) "Regular full time em- and such Other olticer as it may ceptable by the Committee. and the costs ol alten- - event that an employee with the paid to him, whichever date is la- to covered employment prior to ing a Retirement Committee and deem A muiority of planning neressary mean an shall ployee employee the end of the above stated leave a Retirement Fund; Providing for SK KIN (12 AD,MINIS! RA- - dance bv committee members or consent of the City Council elects ter, the below stated death bene- of a whose employment normally re- the membeis shall constitute absence, it shall be conclusive- - Contributions Thereto by the City fit in covered service shall be continue or for I III. I lie retireION OF paid FUNDother bv sons the applied Member of authoned the Commitpei quires not less than 208 days on quorum. the ly benefit of of his benehis presumed that his employment and by the Covered Employees, ter attainment retirement Council ment shall have designated control tee shall serve without compensaat special meetings (ommiltre a per diem basis, 10 months on u of the admimsti ation ot the f und or coni. ernes i elating to pension aee. 01 returns to covered service ficiaries, or in the absence of de- terminated as of the date of ex- passed by the City Council on the hut tion shall he for leimlmrsed 10C0 on or horns basis, monthly after having retired, but does not signation to one of the beneficiar- piration of said leave of absence 16th day of July, A. D., 1960, as an hourly basis for service per actual and neeessuiy expenses in- and Mull ileteiunne the method plan administration, to continue ot 1. receive retirement ies referred to in the preceding and he shall be entitled to termin- same appeals of record in my of9 the SECTION to E.MPL.OYEES ed lunds run insure invest set in,", on the vice thtough year in any one calendar year. If the fice. ation benefits accordingly. in paragraph section. as benefits deAll COVERED: provided the mum Committee in as nimmensui-atneatest tic cot dance with employees (e) Service or covered sermember occurs IN WITNESS WHEREOF, I have The death benefit of a deceas- death of such he sha11 continue to be a well sound financing adequate- fined in Section 3.1 hereof, who vice shall mean service rendered such regulations as the City Counto ed member shall be his accumula- prior to the expiration of such set my hand and affixed the corThe Committee pet form covered seivu'es for the member of the plan, continue to the City for compensation which cil may establish relating theieto ly saleniai did leave of absence, the death bene- porate Seal of Brigham City, ted contributions. tbe contributions become requisite direct the shall to lo of,make members oilier invest sonCity, tiustee may relat-is included in computations City poi nr, rLkting SECTION 16.2. DEATH AFTER fit based on his membership shall Utah, this 16th day of July, 1960. and reinvest the money in the re-- the retirement system as follows: unl shall continue to receive ing to memberhip status or bene- nel RETIREMENT: FANNIE J. CHRISTENSEN, Ltpon the death be payable. fund as authoiied by SFCTION 5.4 POWERS (a) Every employee who is The fit rights under this ordinance. of a member after the effective MERGER WITH SECTION 21 City Recorder. station ami may piovide for The term shall not include ser- administration of t In system is Com date of his retirement or after the OTHER SYSTEMS. . it is antici- - (SEAL) vested the in Committee hereby vices performed by an employee shall become a member of the re- mittee he may select an effecitve date upon which a retirement alwhich are included in computa- and the Committee shall have the on lowance shall have been paid to retirement date commencing tirement system on that date. tions relating to benefit rights un- following powers and duties: him. whichever is later, there (h) Each employee who enters the first day of the month followform (a) Keep in convenient der the provisions of other retirehe shall be paid or applied for the into covered services fur the City ing the month duttng which Low, ment or pension systems to which such data as may he deemed shail letired fiom active covered ser- benefit of his designated benefiLow tor actual ial evaluation Brigham City has made contribuvice. ciaries, or, in the absence of Prices tions on behalf of any employee, put poses. SFCTION 14 3. EARLIER designation, to one of the benefito ment system effective as the (b) i rum time to time make or deposited in the fund subect other than the Social Security Act, to in 15.1 referred ciaries Section member anil puvment there- - date of his'employ ment. may Any such as, but nut limited to, tin cause to lie made an actu mat in- t SI Cl ION 10 1. PRIOR SER elect to retne from the employ- hereof, an amount equal to the Policemen's Pension System. Ad- vestigation into the mortaiitv and for hv Older ol the Committee 7 1. INVESTMENT! VICE CRFDIT: Each member of ment of the City on any anniver- amount by which his accumulaSECTION ditionally, the term shall not in- service experience of the benefi1 UNIT The Trustee is the retirement system, who was sary date not more than ten years ted contributions exceed the total - OF THE of ciaries this varand the clude services system by performed benefits paid to him authored, subiect to the instruc- engaged in performing covered prior to his normal retirement retirement members of the Brigham City ious accounts created for the if he has completed at least prior to the date of his death; of for services to the Committee of tions the show age the durin invest stathe financial City ing P"e Fire Department, which are land reinvest the ninnov in the period commencing March 1. 1960 fifteen years of covered services. provided, h owever, that if said ered under the Firemens Pension tus tf the retirement fund. is made by the deceased retired member elected and ending May Fund as followsre- - If such an election I960 shall (c) Adopt for the retirement Fund (Chapter 6 of Title 49, Utah la) Bonds or other ev idem es of reive credit for all covered ser- - member in writing to the Com- to receive one of the options purAnnotated 1953 as amended), tem the mortality tallies and such 86 PROOF re- suant to the provisions of Section Years of Service or ser- - other tables as may be deemed indebtedness of the United States vires performed hy him for the mittee, such member shall (f) 14.5 there shall be no death benethe on next tire to of I. 196(1. us America of or succeeding City May any vice years shail mean the num-- ! necessary. prior agencies 10.2. SECTTON when such versary of his birthday. The re fit paid pursuant to this section. ABSENCE (d) Certify with such frequency or instrumentalities ber of periods each to consist of SECTION 17.1. TERMINATION of any member twelve iqll months, whether con- and in such manner as it deems obligations are guaranteed as to sickness, injury or other leave of tirement benefit If a member shall shall BENEFITS: secutive or not, during which an necessary the rate of contribution puneipal and interest by the Uni-- j ihsenre granted by the City pre- - electing earlier retirement ies- - for any cause, except retirement an be of vents ted States or America which equivalent from actuarially must be bv by the City any regular emplovee any paid employee performed services for or death, cease to be employed the City, including such time as into the retirement fund. Said cer- agenrv or instrumentality thereof Ving in service on said effective ser retirement allowance than his be made (b) General obligation' bonds or, date, the Committee shall grant normal retirement benefits, based in covered services for the City suffi- on a tifications shall the employee was absent nrior service credit to such em upon his age and other pertinent he may: paid leave' or absence granted by cientiv in advance of the time for other evidences of indebtedness (a) By written request directed of of State the United pMyee when he is again employ tactors at the time of earlier re the of ar,y States, the of in the City or absent the service preparation budget to the Committee receive a refund so that the City of the United States Government the shall i01" f anV f it" counties or incur ed, provided that he returns to tirement. SECTION 14.4. POST RETIRE- of all contributions made by him on military duty, as hereinafter ha e ample oppoitunity to include porated cities, towns nr school dis employment on or before May MENT EARNINGS In the event into the fund, plus regular inter1961. of anv Slate m tricts hud-o- f s;tid contribution A within its absence provided. temporary of the SFCTION 10 3. PAST SER VIC E a retired member is elected, ap- est thereon. In the event of such United States, not more than thirty days with- - set. to perform election, a terminating employee RECORD As soon as prectn. pointed or employed bonds are sitd Ambon (e) out leave of absence granted by 'r all disbursements than one of the tecetvmg follow mg able, the Committee shall prep ire covered services for the City and upon later by the the City shall not he considered by the Trustee fiom the Fund i recot d of each memhers pnm receives monthly compensation City under the provisions of this (f) Kt ep a lecoid ot all ot its or better: as a break in employment tor this odinance shall be treated as a new Fitch Bond Rating service credit for services proceedings which shall be open per therefor, which, when added to purpose. is he the retirement allowance employee and his service history to Moodv Varied to the Bond efiective data the Rueng or "salary inspection by prior (g) Compensation public. B! Plus hereof and shall, at its option, nr then receiving, will exceed the fi- and benefit then be based upon Standard and Poor shall mean the total amount of (g) Trom time to tune adopt used services from the date of said reit the request of anv member nal monthly compensation not or in t'",1 case of unrated nuintct-payments made by the City to an such rules and regulations to compute his retirement allow- employment in covered services. il general ohhgitinn bonds, said pt ovule such member with a inconsistent this with for as rendered ordinance services topv emplovee in the (b) Leave his account benefits. Su'd tecord shall be deem- ance, the retirement to the City, including, but not by may be necessary for the admin- bonds must lie issued bv one of hei-ed final and it to cbove of as the conclusive paid fund intact. In the event of such of subd.v sums the provisions of this each whether normal or optional poinr way of limitation, all salary, wage istration to him during said continued em-- ! "lection a terminating employee Spite ef i'lah and h" found hv member's prim service cred.i and overtime payments but ex- ordinance, and tor the udnvn a modified of to within uf a he of Commit!"' ployment. shall be reduced to an shall .retain status as a member the fund diiv made hv qu created this period in cluding any payment of the system, excepting for the kind, and excluding all contnhu- - ordinance and the several ac- eqo.i to bonds wliih ire entitled three years, after notice thei'ce amount which when added to said has been given to the emplnvu compensation will 'ark ot contributions into the fund tion made by the City under this counts thereof; tor the purpose of m i rr e tm ah w e ratings said final monthly hy him or on his behalf. In the by action of the Committee iipno not exceed plan or under any other employee providing a means w herein' r "vent of his of the member invo'v hers of the compensation. by the t benefit plan maintained ippheatmn the he niav system hy of City for services covered by this such and "d, th" e During period however, that of a iilence for benefit the provded, itlatim present particiCity service neither the time trdinance, his service history and n Committee on its own a their lights pursuant to the pant. More than the greatest ever published! mav at any time modify said vo. of service nor the compensation benefit rights shall he based upon Final Monthly Compensausions (if the ordinance and (h) his future 'he prior service credit and cur--e1000 items ot distinguished S&H merchandise tion s'vi t if dv pledged vice ci edit hut prior to so doing received shall affect shall mean the uvetage the transaction ot all other busi- or e, unm;-- , service credit accredited to hall gt.e notice and an nppoitun benefit status or require contribumonthly compensation earned hy ness ot the Comnntlee arising out for the p. incut ot the principal are shown or described in its 100 thrilling, on in h obligations, 'tv to be Inutd te the aficited turns by either the retired mem- him at the time of his termina-inn- , a member during the highest paid ol the proper administration of and in. as well as colorful the the id or ov this d ber current upon dm said member. e City. d pages. oi ;u I.'V enue bonds mi three years of the last ten years ,ervice credit that he acquire as SI CllON 11 1. JOINT CONTRI SECTION 14 5 OPTIONAL m e roi-'of service, or, in the case of mem(h) Provide tor investment, re-- j the Room of result his TIREMENT BENEFITS: A Id 'EONS. settings of five gracious American The shall bers retiring with less than ten investment, deposit and withdiaw- - the follow ol the I uch attainment of Upon elect I! al retireletired on a of ber it. untamed lunds. of ,)r sound homes ol person with S&H gifts his all may furnished it'ng service, are also years years to have his noi mal retirement al- ment age by said terminated basis by means Moody K e til Pi ep ire annually a financial of service. Rung with on comments home helpful pictured, aphe shall therehave in lieu the reduced and ind S' n d .aid Pi or same lowance iade jointly by or 'statement showing the condition Pension Committee (i) those employees who have qua1.- of to accept an actuarially equiv- .ighls to receive retirement beneII es (ll) Bends, pointments by Dorothy Draper, world-famou- s "committee shall mean the pen- ot the fund and various accounts ied and remain eligible alent lesser retirement allowance fits, if eligible therefor, as any to inforth administration committee thereof and setting such ev nli in i s ol md, u,.Uo,, sion designer. his lifetime employee member, tn the event come members of the system hereinafter provided for. Said other facts, i ecommendat ions, and isstimid or gu'rantied payable throughout on that d the effective of date with his that' SECTION 112. EMPI.OM I. committee shall be known as the ita as nuv he used ut the ad solvent cm po! atiun or provisions Pick up your free Ideabook at any v uncement I ach ot knnwied"e i otu e, n (,e iied or exepn under tile liws CUNT R I BIT ION. r Option Upon his death an election to retire, the has not ac"Brigham Ciiy Pension store or service station that gives to his lesser cumulated a sufficient number of ing the telnement system The of tin- I ivtsd St ties or ot anv ft the system shall Conti ilxite aa allowance equal ot to reto be service for S&II Green Stamps. allowance Ft retirement to d v .mount years in three contained mlorm.itioi, mean O", shall the stnet qualify itoi toil patJ therein shall equal per cent (j) "Tiustee" and thiougbout the lifetime of tirement benefits, he shall solely Tteasuter of the Citv, oi such be uv liluhle to the (htv mil to shill are not in default as to (T ) of lus monthly compens as he shall be entitled to receive the contri-- ! such beneficiary iniltei esl, other person as may be named in such membeis as niav desne ut pi ut' ipal oi prov uled 0)11. to he ileilui ted m equal tuitions paid bv him into the fund, an amendment of tins otdinunce; ti) The Com mu tee nuv iriom-t- tbit sod bonds .tie lereivmg not stillments coincident with his p ,v nominate hy written designaday fiom salaiv payment by the tion duly executed and tiled plus regular interest, act as Tiustee and custodian mend to the Citv (ThiikiI that the 'ess than on" ot the billowing 18 1. SECTION Citv and paid hy it to the letiie-n- with tlie nr better: retirement committee of the Fund herein created City employ a director to admin ABLE: The right of any member at the time of his election. nt fund. ister tin system undn the super-shal- l BBB in h Bond Rating (k) "Member or pai ticipant All member conti lbutions shall Moodv Bond Rating BAA Option 2. Upon his death an or his beneficiary to any benefit mean an employee of the vision of the Committee and upon f of jor payment hereunder or to th; Standard and Poor Bl Plus be credited to the account of the, allowance equal to City, who is eligible to be and be- - recommendation of such dilector 6 e JOURNAL, Briqham City, Utah Thursday, July 28, 1960 THE BOX ELDTR i 1 1 1 ac-an- d 1 1 i 1 n : e 11 - (5) 1 (1) e (25) e 1 1 per-syste- 1 retire-studie- 1 1 y 14-4- . 1 s 1 h pur-cov-- 1 e Now Ready for You! 1 p of - s GREEN STAMP IDEAB00K ' i i v Its v y de'-ei- ' 1 ntt-mi- rs i NON-ALIE- u I one-hal- |