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05/09/90
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05/09/90
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Meetings
Meeting Document Type
Agenda
Document Title
Fire Board
Document Date
05/09/1990
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SECTION 4, EARLY VESTED PENSION. <br /> <br />If a member shall have served for more than 10 years, but less than 20 years, as an active <br />fire fighter in the Ramsey Volunteer Fire Department, he/she may retire from said <br />department and be placed on the early vested pension roll. When he/she reaches the age of <br />50 years, and provided at the time he/she has been a member of the association for at least <br />10 years, he/she shall upon application therefore, be paid in the following manner: <br /> <br />(a) <br /> <br />10 years of acttve sermce, but less than 11 years of acnve service, 45% of the <br />amount per year of service which would have been earned, had the member served <br />for 20 years or more; <br /> <br />(b) <br /> <br />11 years of acnve servme, but less than 12 years of active service, 51% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />(c) <br /> <br />12 years of acnve servme, but less than 13 years of active servme, 57% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />(d) <br /> <br />13 years of acttve sermce, but less than 14 years of active service, 63% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />(e) <br /> <br />14 years of acnve sermce, but less than 15 years of active servme, 69% of the <br />amount per year of service which would have been earned, had the member served <br />for 20 years or more; <br /> <br />(f) <br /> <br />15 years of active sermce, but less than 16 years of active servme, 75% of the <br />amount per year of service which would have been earned, had the member served <br />for 20 years of more; <br /> <br />(g) <br /> <br />16 years of active sermce, but less than 17 years of active service, 80% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />(h) <br /> <br />17 years of active sermce, but less than 18 years of active service, 85% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />(i) <br /> <br />18 years of acnve sermce, but less than 19 years of active service, 90% of the <br />amount per year of service which would have been earned had the member served <br />for 20 years or more; <br /> <br />19 years of active service, but less than 20 years of acuve service, 95% of the <br />amount per year of service which would have been earned, had the member served <br />for 20 years or more. <br /> <br />During the time that any member is on the early vested pension roll, he/she shall continue to <br />pay dues, and he/she will not be eligible to receive any of the benefits provided in Article <br />VII. Pensions payable to members on early vested pension roll shall be based on the <br />amount payable per year of service in effect at the time of such early retirement. During the <br />time that a member is on the early vested pension roll, the association shall add to the <br />amount payable to such member interest, compounded annually at the rate actually earned <br /> <br /> <br />
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