Section 18-20 Interpretation and administration.
Prior to the adoption of Ord. 018160 on 07/06/2004, Section 18-20 read as follows.
In addition to the interpretation of the provisions of this article
in such a manner as to confirm
and continue its status as an exempt governmental fund, the provisions of tThis article
shall be
interpreted and administered:
(1) Conservatively at all times, so as to reduce
the obligations of the fund, to prevent the
overpayment or mispayment of any sum and to maintain the actuarial and financial soundness of
the fund. In the event of doubt as to any provision, it shall be interpreted against the payment of
any benefit.
(2) In light of and in conformity with the provisions of the federal and state
constitutions,
federal and state statutes, and the home rule charter and ordinances of the city.
(3) In such a manner as to confirm and continue
the status of the police retirement plan and
the firefighters’ retirement plan as exempt governmental plans.
(Code 1964, § 9.1670; Ord. No. 12868, § 1, 2-4-91)