San Jose Municipal Code Part 8 Member Contributions After Effective Date

A. The provisions of this part shall govern and be applicable only on and after the effective date of this part, and shall then apply only to the following members of the retirement system, and to contributions required of them after the effective date of this part, as follows:

1. All persons who become members of the retirement system on or after the effective date of this part, excepting persons who on the effective date of this part are on service retirement or disability retirement under this system who may subsequently be reinstated from such retirement;

2. Each person who became a member of the retirement system prior to the effective date of this part and is such a member on said effective date if such person is given the option specified in Section 3.24.1560, and exercises such option in the manner and within the time specified in Section 3.24.1570;

B. Any person who became a member of the retirement system prior to the effective date of this Part 8, and such member's contributions, shall continue to be governed by the provisions of Part 7 of this chapter and not by the provisions of this Part 8, if he is not given the option specified in Section 3.24.1560, or if he is given such option but refuses or fails to exercise the same in the manner and within the time specified in Section 3.24.1570.

(Prior code § 2904.83h.)

All members of the system to whom this Part 8 applies shall be required to make normal monthly contributions to the system. The normal monthly contribution which shall be required of a member for each month from and after July 1, 1971, shall be a percentage of the compensation earned by him in such month. Said percentage is hereinafter referred to as the member's "normal rate of monthly contribution."

(Prior code § 2904.83i.)

A. Until amended or revised by the board in accordance with Section 3.24.160, the normal rate of monthly contribution required of members on and after July 1, 1971 shall be three and eight-five one-hundredths percent of earned compensation.

B. The normal rate of monthly contribution set forth in this section is based on the interest and mortality tables used by this retirement system on July 1, 1971, and, subject to other provisions of this part, shall be adjusted by the board from time to time, in accordance with the provisions of Section 3.24.160 of this Code.

(Prior code § 2904.83k.)

For each member of the system to whom the provisions of this part apply, the normal rate of monthly contribution required on or 3.24.750 after July 1, 1971, or on or after the date he enters the system if he enters after July 1, 1971, shall be such that the amount of normal monthly contribution paid by him when added to all normal monthly contributions paid by other members of the system for the same period, will be sufficient to pay 3/11ths of the cost of all pensions and other benefits which are or will become payable to members on account of current service rendered by members on and after July 1, 1971; provided and excepting, however, that whenever a normal rate of monthly contribution for members is adopted or from time to time amended, the new or amended rate shall not include any amount designed to thereafter recover from members or return to members the difference between the amount of normal contributions theretofore actually required of members and any greater or lesser amount which, because of amendments to the system changing the time at which members may retire, or changing the benefits members will receive, or as a result of experience under the system, said members would have theretofore been required to pay in order to make their normal contributions equal 3/11ths of the cost of all pensions and other benefits which are or will become payable to members on account of current service rendered prior to the effective date of the new or amended rate.

(Prior code § 2904.83j.)

Subject to rules prescribed by the board, any member may elect to make contributions for the purpose of providing additional benefits. The exercise of this privilege by a member does not require the city to make any additional contributions. Upon application, the board shall furnish information concerning the nature and amount of additional benefits to be obtained from additional contributions.

(Prior code § 2904.83o.)

Upon a member's reentry on or after July 1, 1971, into the retirement system at reinstatement from service or disability retirement, his normal rate of monthly contribution shall be the same as that of other members.

(Prior code § 2904.831.)

The actual amount of annuity receivable by a member upon retirement shall be the actuarial equivalent of his accumulated contributions.

(Prior code § 2904.38n.)

A member who, because of his employment by the city is required to become a member of any other retirement system supported in whole or in part by public funds, shall, with respect to his right to withdraw his accumulated contributions, be considered as permanently separated from city service.

(Prior code § 2904.83p.)

Anything in Section 3.24.510 to the contrary notwithstanding, the board may withhold, for not more than one year after a member last rendered city service, all or part of his accumulated normal contributions if after a previous discontinuance of city service he withdrew all or part of his accumulated normal contributions and failed to redeposit such withdrawn amount in the retirement fund.

(Prior code § 2904.83q.)

A member to whom this part applies may redeposit in the retirement fund, in one sum or in not to exceed thirty-six monthly or seventy-two semimonthly payments:

A. An amount equal to the accumulated contributions that he has withdrawn at one or more terminations of service, but in reverse chronological order in which they occurred, and subject to minimum payments fixed by the board; and

B. An amount equal to additional interest which would have been credited to his account at the date of the election, had such contribution not been withdrawn; and

C. If he elects to redeposit in other than one sum, interest on the unpaid balance of the amount payable to the retirement fund, beginning on the date of such election, at the rate of interest currently being used from time to time under the system.

(Prior code § 2904.83r.)

If, upon a member's reentry into the system on or after July 1, 1971, a member redeposits his accumulated normal contributions, his membership is the same as if it were unbroken by such termination. His normal rate of monthly contribution for future years shall be the same as that of other members.

(Prior code § 2904.83s.)

Upon reentering this system on or after July 1, 1971, after a termination of his membership, if a member fails to elect within not more than thirty days after the date upon which notice of the right to redeposit is mailed by this system to the member's latest address on file in the office of this system to make, or having so elected, subsequently does not make such redeposit, he reenters as a new member without credit for any service except service rendered before July 1, 1951, credit to him before termination, and his normal rate of monthly contribution for future years is the same as that of other members.

(Prior code § 2904.83t.)