§ 2.40.18. Policemen's pension and relief fund.

A.

The policemen's pension and relief fund established by the city is hereby abolished with the fund therein to be disbursed in the following manner:

1.

Any contribution of any member is to be returned to that member in full plus that interest which has accrued on that contribution.

2.

Any money originally placed in the fund by the city to actuarially insure the financial soundness of said system shall be returned to the general fund of the city along with any other money that the city has contributed to be used as the city council directs.

3.

Any money placed in that fund from fines or forfeitures collected by the city police department shall be returned to the general fund with the disbursement of said funds to be for the benefit of the city police department shall be returned to the general fund with the disbursement of said funds to be for the benefit of the city police department, as directed by the city council.

4.

Any other money placed in the fund from any source or any additional interest drawn on the present fund shall be placed in the general fund of the city with directions that said money be first applied to the needs of the city police department as directed by the city council.

B.

All present members of the city police department shall continue as members of the state public employees retirement system with the exception of those eligible for membership in the local police and fire retirement system who shall become members thereof, and all future employees of the city police department shall become members of the local police and fire retirement system as required by law with all benefits thereof, and the city shall pay into said systems now and in the future any funds so required to insure the protection of the policemen of the city.

( Ord. No. 83-14, §§ 1, 2 )