Skip to main content
Loading…
This section is included in your selections.

Any "employee" as defined in section 102-236, who was serving as a commissioned officer on April 1, 2001, shall be entitled to receive a supplemental monthly retirement benefit ("SMRB") in the amount of $200.00, payable upon either entry into DROP or separation from service, increased annually in January, if in payment status, using the annual increase methodology defined in § 102-236 (current rank escalation highest salary). However, such supplemental payments shall only be made following confirmation by the state Fire and Police Pension Association (FPPA) that the plan will be actuarially sound (as required by § 31-30.5-210(2), C.R.S., as amended) and will require no city contributions. SMRB payments shall not be made in the year following release of any FPPA actuarial report that shows that the plan will require city contributions in order to be actuarially sound and payments shall not begin or be resumed until the calendar year following release of an applicable FPPA actuarial report which includes the supplemental payments in the assumptions, finding that the plan is actuarially sound and will require no city contributions. The SMRB shall be payable on an annual or biennial basis in conformity with the City's obligation to contribute or not contribute to the plan as determined annually or biennially based upon an applicable actuarial report. No liability to the plan or to the city will occur for any payments not made under this section, nor shall there be any catch-up for payments not made. Upon the death of a recipient of this supplemental benefit, the benefit shall be payable to the survivor in accordance with, and on the same terms as, section 102-247(c), with the exception that under no condition shall a child(ren) of the retirant or member be entitled to this benefit. The board shall, at its discretion, be authorized to arrange and pay for a special FPPA actuarial report on a calendar year basis in order to facilitate the provisions of this section. (Ord. No. 2001-21, § 1, 5-14-2001)