Retirement Plan Benefits. The purpose of this policy is to designate the retirement benefits that will made available under the Monroe County Employee’s Retirement System Ordinance (“Retirement System”). Notwithstanding anything to the contrary herein, a member’s accrued benefit earned prior to July 1, 2013 (i.e. a frozen accrued benefit that is calculated based on final average compensation, years of credited service, the applicable multiplier and other relevant provisions in effect prior to July 1, 2013 is not intended to be diminished or impaired by the changes set forth below. The changes set forth below shall apply with respect to accrued benefits earned under this Article and the Retirement System on or after July 1, 2013. Subject to the terms and conditions set forth herein, the County agrees to maintain the Monroe County Employees Retirement System Ordinance now in effect for all employees covered by this Agreement who are present participants in the Plan or who become participants in the Plan during the term of this Agreement.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
