(a)Any employee of the City of Prichard who has been in the service thereof for as long as 25 years, the last four years of which, counting a major fraction of a year as a full year, have been continuous, upon making written application to the City Council of the City of Prichard, Alabama, therefor, shall, without medical examination or disability be retired from service of the City of Prichard and upon such retirement the council shall direct the payment to the retiring employee monthly from such fund, a sum equal to 55 percent of the monthly compensation received by such employee as salary or other compensation at the time of his or her retirement, or an amount equal to 55 percent of the average compensation of such employee over the then past four calendar years, whichever shall be the
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(a) Any employee of the City of Prichard who has been in the service thereof for as long as 25 years, the last four years of which, counting a major fraction of a year as a full year, have been continuous, upon making written application to the City Council of the City of Prichard, Alabama, therefor, shall, without medical examination or disability be retired from service of the City of Prichard and upon such retirement the council shall direct the payment to the retiring employee monthly from such fund, a sum equal to 55 percent of the monthly compensation received by such employee as salary or other compensation at the time of his or her retirement, or an amount equal to 55 percent of the average compensation of such employee over the then past four calendar years, whichever shall be the greater, multiplied by the percentages applicable from the table below:
Years Service
Percentage
25
55
26
56
27
57
28
58
29
59
30
60
(b) Provided that the percentage shall increase one percent for each year of service over 30 years. Any employee of the City of Prichard who has been in the service thereof for as long as 30 years or longer, the last four years of which, counting a major fraction of a year as a full year, have been continuous, upon making written application to the City Council of the City of Prichard, Alabama, therefor, shall, without medical examination or disability, be retired from service from such city and upon such retirement, the council shall direct the payment to such retiring employee monthly from such fund, a sum equal to 60 percent of the monthly compensation received by such employee as salary or compensation at the time of his or her retirement, or an amount equal to 60 percent of the average compensation of such employee over the then past four calendar years, whichever shall be the greater.
(c) With regard to any years of service prior to a break in service of the employee, which are included in the computation of the total service of an employee under the terms of this section, on account of which years the employee had withdrawn the one-half of his or her own contributions to which he or she would have been entitled under Section 45-49A-81.20, no such years will be credited to the employee in the computation of his or her pension until he or she has repaid to the fund the amount of his or her contributions previously withdrawn plus compound interest at four percent per annum, from the date of the withdrawal to the date of his or her retirement.
(d) At the time an across-the-board raise is given to the city employee of the City of Prichard, future retirees shall be entitled to 50 percent of the raise given to active city employees.
(e) Whenever an active employee of the City of Prichard, or a former employee of the City of Prichard retired under the terms of this part shall die while so employed or enjoying the benefits of such pension, there shall be appropriated and paid from the fund the sum of two hundred fifty dollars ($250) for funeral and burial expenses of such decedent, which such sum shall be used for funeral and burial expenses and paid out on order of the head of the department of which such decedent was a member, or on order of the City Council of the City of Prichard, Alabama.
(f) Notwithstanding any provision of this part to the contrary, any participating employee, regardless of age, shall be able to retire and receive full benefits as provided in this section upon 25 years of service and participation in the fund.
(g) The City Council of the City of Prichard is hereby authorized to promulgate regulations to allow elected officials of the city to participate in the pension and retirement fund for the city.