Smyrna times., 1956-01-26
Ordinance
REGARDING TOWN POLICE PENSION
PLAN

WHEREAS. it is imperative for the
public safety that a municipal police
force be maintained with proper and
efficient personnel, and such personnel
can only De attracted to employment in
municipal police work by the assurance
of an adequate pension system and
WHEREAS. it is necessary to provide
the means of financing and administer
ing the municipal police pension fund
and
WHEREAS. the General Assembly of
the State of Delaware has amended Chap
ter 27. Title Is of the Delaware Code
by providing for a special tax on GER
tain gross premiums of insurance COM
panies Cor the purpose of creating a
special fund to be paid out by the state
treasurer to the proper officers in charge
sf any municipal police department or
a bureau having a pension fund and
WHEREAS. it is the intent and desire
sf the Mayor and members of council
70 establish a pension system for the
municipal police and to participate in
ahe distribution of the funds received
and paid out by the state treasurer
pursuant to the aforementioned act of
che General Assembly of the State Of
Delaware.
NOW, THEREFORE,, be it enacted by
the Mayor and the Council of the Town
sf Smyrna, the Mayor and all members
of the Council concurring therein:
SECTION IA municipal police pen
sion board consisting of three members,
10 serve without compensation, appointed
by the Mayor for term of three years
shall govern and control the creation
and administration of a~municipal police
pension fund. One member of said board
shall be a member of the town council
one member shall be a member of the
nunicipal police force; and one member
shall be a resident of and property own
er within the Town of Smyrna. In the
event of a vacancy occurring by death,
resignation or otherwise. the Mayor shall
appoint successor to fill the unexpired
term of the departed member. The mem-
bers of the board shall elect, at their
srst meeting. a chairman, a vice-chair-
man and secretary-treasurer, who after
the said election shall take their re-
speetive offices and perform their duties
according to rules and regulations adopt
ed by said board and approved by the
Mayor and members of council prior to
the payment of any money into the
pension fund.
SECTION 2:-The said pension board
shall have authority to purchase out
Of the funds received by the Board,
such supplies and equipment as may
be necessary to carry out its duties
and to properly administer the said PEN
sion fund.
SECTION S:-The records and accounts
Of the said pension board shall be aud
end of the fiscal year of the said board
which year shall coincide with the fiscal
year of the Town of Smyrna.
SECTION 4:-The said pension board
shall have authority to invest and re-
invest the funds received by it subject
to the approval of the Mayor and MEM
bers of council.
cr,<rurnAr
shall have authority to receive gifts, |
donations and rewards for the said PEN |
sion fund
SECTION 6:-All rewards received by
the police department shall be turned |
over to the police pension board, to
be placed in the police pension fund. |
SECTION 1.-THE police pension board
shall carry a life insurance policy on
each member of the police department.
anth such membership is terminated by
resignation, discharge or otherwise, in
ahe sum of Two Thousand (2,000.00)
Dollars, payable to a beneficiary desig-
mated in writing by the said member.
Upon termination of the membership of
sshe department any refund or premium
paid shall become a part of the police
pension fund
SECTION S:-Each member of the
Smyrna Police Department, after serving
six months. shall have deducted from
his salary each week three (3) percent
of his total salary. An additional amount
sufficient to support the pension fund
shall be provided by the Town of Smyr-
ma. or some other source as provided
by State Law, to augment the three
percent contributed weekly by each eligi-
kfe policeman. Said money to be turned
over 70 the Police pension board is
to be used as set forth in the 0rdin-
ance Of the police pension plan.
SECTION 9:-Each policeman. after
reaching the age of sixty (60) years
and having twenty five (25) years SER
vice with the Smyrna Police Depart
ment, shall be eligible to retire at one
half of his salary at time of retire
ment, and will continue to draw such
pension until such time as he will be
eligible to collect F.O.A.B. AT this
time he must retire and his pension
which will be reduced by the amount
he receives from F.0.A.B.
SECTION 1O:-If, for any reason,
Policeman, after having served one Cl
year under police pension plan, should
be discharged. resigns. or dies on appli-
cation by the proper person to the
police pension board shall within sixty
1907 days of the date of application
shall be refunded the full amount that
bas been deducted from his salary and
paid into the police pension fund.
Adopted By Mayor and Council