2025.07.07 CC Packet - Laserfiche WebLink

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17 13 72 percent 14 76 percent 15 80 percent 16 84 percent 17 88 percent 18 92 percent 19 96 percent 20 and thereafter 100 percent ARTICLE XVI DEfERRED PENSiON StAtUS Section 16.1. Deferred pension rolls: A member of the Association who has served as an active firefighter in the Fire Department for at least ten (10) years, but has not reached the age of fifty (50) years, may terminate from the Fire Department and be placed on the deferred pension roll. Upon reaching age fifty (50) and provided that membership in the Association has been maintained for at least ten (10) years, upon approval of a valid written application, in accordance with Section 13.2, and Section 13.3 of these Bylaws such member shall be paid the base sum for each year of active service in the Fire Department as was payable at the time of termination from active service in the Fire Department and reduced pursuant to the early vesting schedule in Article XV of the Bylaws. A member who is on the deferred pension roll shall not be eligible to receive any of the ancillary benefits provided for in these By-laws except those that are specified. Section 16.2. Interest paid: The Association shall, add to the deferred member's account, interest, at the rate of five percent (5%) compounded annually. The deferred interest credit method will be based on full calendar months. Section 16.3. Deceased Deferred Member: If the member dies while on the deferred pension roll, the total deferred pension applicable at the time of death shall be paid to the members surviving spouse or children, or estate pursuant to Article XII of the Bylaws. ARTICLE XVII PROcEDURE fOR REviEW Section 17.1. Right to Appeal: In the event that the Board of Trustees denies an application for a service or ancillary pension benefit, the member shall be entitled to the right to appeal the determination.