(a) Generally. Any member who has met the eligibility requirement in subsection 102-194(a) will be eligible for a delayed retirement benefit for each full year of additional active service up to ten years of additional service. This benefit shall be an additional two percent of the current (rank escalation) highest monthly base salary paid for the rank held by such former member at the time of termination of employment with the department for each additional full year of active service plus the annual longevity pay and longevity credit earned by the member prior to January 1, 2005. For each additional full year of active service, the rank escalator benefit and longevity pay and longevity credit shall be increased by two percent. The delayed retirement benefit shall be available to members retiring on or after January 1, 1986. In no case shall the accumulation of additional active service through the delayed retirement benefit program result in a service retirement monthly pension in excess of 70 percent of the current (rank escalation) highest monthly base salary, plus longevity pay and longevity credit, paid for the rank held by such former member at the time of termination of employment with the department. For retirements occurring after May 1, 1991, the additional percent shall be four percent up to six years of additional service for a maximum of 74 percent of the current (rank escalation) highest monthly base salary, plus longevity pay and longevity credit, paid for the rank held by such former member at the time of termination of employment with the department. This modification effective on May 1, 1991, shall not be applicable to anyone who has retired prior to such date. Commencing with retirements occurring on or after January 1, 1993, the delayed retirement benefit shall be calculated on a pro rata basis using full months of additional service. This section is subject to Internal Revenue Service limitations found in section 102-207.

(b) Delayed retirement survivor benefits for spouse. If a retirant who was receiving or was entitled to receive at the time of death a delayed retirement benefit as a result of accumulation of additional active service, as provided for in this section dies, the surviving spouse and/or alternate payee shall receive 66 percent of the benefit paid which includes rank escalation, until death. The total benefit payable to the surviving spouse and the alternate payee shall not exceed 66 percent of the benefit, which includes rank escalation, payable to the retirant.

(c) Delayed retirement survivor benefits for children. Any former member receiving a delayed retirement pension benefit who shall die leaving no surviving spouse, but leaving a child or children under the age of 18 years or under the age of 24 years if a full-time student as defined by the IRS code, such child or children shall receive the benefit calculated in accordance with subsection (b) of this section. Such benefits shall be payable in equal shares to the child or children then surviving, or to their guardians. If the benefit or some portion of the benefit has been disposed of under an approved domestic relations order, then the total benefit payable to the children combined with the amount payable to the alternate payee shall equal 66 percent of the benefit paid to the deceased, and the 66 percent of the benefit of the deceased shall continue to be paid in equal shares to the surviving child or children under the age of 18 or under the age of 24 years if a full-time student as defined by the IRS code. Upon attaining the age of 18 years, or 24 years if a full-time student as defined in the IRS code, each child's entitlement to his or her share of the 66 percent of the benefit of the deceased shall terminate and cease to be paid and the remaining children's share shall be adjusted so that 66 percent of the benefit of the deceased is paid equally as between the child or children. (Code 1979, § 15-127; Ord. No. 2005-03, § 6, 2-28-2005; Ord. No. 2000-75, § 6, 7-17-2000; Ord. No. 2000-27, § 5, 4-24-2000)