Summary Plan Provisions - Base Plan

FEATURE

CONDITIONS

Participation

automatic and mandatory upon appointment and enrollment as a firefighter or as a police officer of the City of El Paso

Contribution

automatic payroll deduction of 15.28% of wages for firefighters

automatic payroll deduction of 13.89% of wages for police officers

Service Retirement

upon the completion of 20 or more years of Vesting Service and age 45 or more

Early Retirement

upon the completion of 20 years of Vesting Service but not yet 45 with Early Retirement Reduction Factor

Disability Retirement

incapacitating disability as determined by the Board

Deferred Retirement

upon completion of 10 years but less than 20 of Vesting Service and age 50 or more

Refund of Contributions

former member with five or more years of Vesting Service may be refunded previous employee contributions and forfeit rights to a pension benefit

Credited Service

period of time during which a Member contributes to the Fund

Vesting Service

generally means the period of Credited Service plus qualified military and other service under the plan

Cost of Living Adjustment (COLA)

3 percent increase of retirement benefits (except Deferred Retirement) beginning at the earlier of at least age 60 or 5 years on the anniversary of retirement for firefighters or 2 years on the anniversary of retirement for police officers and each and every January 1st thereafter