Eligible Members:
All
Vesting:
Graded 100% at 20 YCS
Age/YCS:
50/20
Benefit Formula:
67.5% x Final Average Salary + $69 x YCS > 20 before 12/31/2010 and $110 x YCS > 20 earned after 12/31/2010
Final Average Salary:
Highest 60 months
Automatic COLA:
Future COLAs to be placed on ballot for firefighter election at discretion of the Board
Benefit Tier Options:
Forward DROP, 7 yr. max. No employee contributions or interest credited. Benefit credits adjusted for payment form.
Social Security:
Yes