2022-059 - Approving and Agreement Regarding Freeze of Fire Pension Fund & Authorizing the Mayor to Execute Same

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Section 6 Death Benefits 6.01 Benefits Payable to Eligible Surviving Spouse. In the event of a Firefighter's death, the Firefighter's Eligible Surviving Spouse will receive a monthly benefit in the following amount: a. if the Firefighter was receiving the Frozen Benefit at the time of his death, the amount of death benefits as determined in accordance with the Normal Form of Benefit or the optional form of payment the Firefighter was receiving at the time of his death, whichever is applicable; or b. if the Firefighter was entitled to a Benefit under Section 2 and his death occurred prior to the commencement of such income, two-thirds of the income that he would have received at commencement of such income; or c. if the Firefighter was employed and not receiving the Frozen Benefit at the time of his death, two-thirds of his Frozen Benefit as defined in Section 2.02 above. d. An Eligible Surviving Spouse of a retired, disabled, or terminated Firefighter must have been married to the Firefighter at the time of the earlier of his Termination of Service or commencement of benefits and remained continuously married to that same spouse until the time of his death. In order for the Eligible Surviving Spouse of an actively employed Firefighter to qualify for the benefit, he or she must have been married to the Firefighter at the time of his death. e. Benefits shall not be curtailed by reason of the remarriage of an Eligible Surviving Spouse. However, no person may receive benefits on account of more than one Firefighter. In the event an Eligible Surviving Spouse becomes eligible for benefits on account of the death of more than one Firefighter, the only benefit payable shall be the greatest of the benefits to which such Eligible Surviving Spouse was otherwise entitled. 6.02 Benefits Payable to Children. Each unmarried surviving child of the deceased Firefighter less than 18 years of age shall receive or have paid on his or her behalf a monthly benefit. The amount of such benefit shall equal a divided by b where: a. equals the Frozen Benefit provided under the Fund, and b. equals 7.5. c. If the Firefighter's Eligible Surviving Spouse dies after receiving benefits pursuant to Section 6.01 or if there is no Eligible Surviving Spouse, the monthly benefit that each unmarried child receives will equal two times the benefit specified in Section 6.02. 6.03 If no Eligible Surviving Spouse or child is entitled to benefits, at the time of the Firefighter's death, the amount the eligible surviving spouse would have received will be paid to the Firefighter's dependent parent(s). For this purpose, a dependent parent is the parent of the deceased Firefighter which the Firefighter was entitled to treat as a dependent for federal income tax purposes for either (a) the calendar year preceding the Firefighter's death, or (b) the calendar year of the Firefighter's death. 9