The code of the city of Charlottesville, Virginia, 1965 : the charter and the general ordinances of the city |
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CHAPTER 2. The code of the city of Charlottesville, Virginia, 1965 : | ||
Sec. 2-208. Retirement pay rates.
Subject to the terms of this article, including the reduction for
primary social security benefits, as provided in section 2-202, the
city will pay retirement pay on a monthly basis to any person
eligible to receive such retirement pay in accordance with the
formula set forth below.
121
Annual Salary At Time of Retirement |
10 Yrs. Thru 14 Yrs. |
15 Yrs. Thru 19 Yrs. |
20 Years and Over |
Up to $15,000 per yr. |
30% of salary, plus 2% for each full year of service after 10th thru 14th |
40% of salary, plus 2% for each full year of service after 15th thru 19th |
50% of salary, plus ½ of 1% for each full year of service after the 20th |
On portion of salary over $15,000 |
The above plus— On portion of salary in excess of $15,000, 20%, plus 2% for each full year of service after 10th thru 14th |
The above plus— On portion of salary in excess of $15,000, 30%, plus 2% for each full year of service after 15th thru 19th |
The above plus— On portion of salary in excess of $15,000, 40%, plus ½ of 1% for each full year of service after the 20th |
Minimum | Minimum pay from city, $30.00 per month |
Minimum pay from city, $40.00 per month |
Minimum pay from city, $50.00 per month plus 5% for each full year in excess of 20 years |
(11-2-59; 4-15-63; 2-15-65; 7-29-66; 2-19-68; 2-2-70.)
CHAPTER 2. The code of the city of Charlottesville, Virginia, 1965 : | ||