§ 18-27. Retirement benefits.

(a)

Subject to the limitations on credited service, the retirement benefits for members shall be as set forth in sections 18-28 through 18-36.

(b)

For purposes of establishing the actuarial present value or any form of payment, all future payments shall be discounted for interest and mortality by using seven and one-half (7.5) percent interest and RP-2000 Combined Healthy Participant Mortality Table, projected to 2015 with projection scale AA, using a blend of 50% male mortality rates and 50% female mortality rates, and set forward five years in the case of disability retirees.

(Ord. No. 2262, § 2, 10-17-01; Ord. No. 2271, § 4, 5-1-2002; Ord. No. 2542, § 1, 3-9-2016 )