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City Council Study Session Agenda and Packet 2017 05 09
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City Council Study Session Agenda and Packet 2017 05 09
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SSAGPKT 2017 05 09
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Statewide <br />Defined Benefit Plan <br />for members of affiliated Social Security Employers <br />(SWDB-SS) Effective January 1, 2007. <br />The Statewide Defined Benefit Social Security Supplemen- <br />tal Plan (SWDB-SS) was implemented on January 1, 2007, <br />and may provide a monthly lifetime benefit based upon <br />meeting the eligibility requirements for retirement. Ben- <br />efits payable from this plan are supplemental to any Social <br />Security benefits that a member may receive. <br />Basic Plan Structure <br />The following types of retirement are available under the <br />'■� SWDB-SS Plan: normal, early, vested or deferred. A member <br />may be eligible for any one of these types of retirement <br />only if the member is covered by the SWDB-SS Plan and has <br />met the eligibility requirements to qualify for retirement. <br />If a member terminates service before retirement eligibil- <br />ity, the member may qualify for a refund of contributions. <br />Eligibility Requirements <br />If an employer covers its members under the SWDB-SS Plan, <br />participation begins as of date of hire or effective date of <br />affiliation assuming contributions are properly remitted <br />to FPPA. <br />FPPAFire and Police Pension <br />Association of Colorado <br />
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