(a) Any general member or police officer member who continues in the employ of the City after he or she either has acquired 20 years of credited service or has attained age 55 years and has ten or more years of credited service may, prior to the date of his or her retirement, by written declaration duly executed and filed with the Board of Trustees, elect Option “B” provided in § 35-26, and nominate a beneficiary who has an insurable interest in the life of the member, in the same manner as if he or she were then retiring pursuant to the provisions of the retirement plan. At any time prior to his or her retirement the same member may revoke his or her election of Option “B” and nomination of beneficiary and he or she may prior to the date of his or her retirement again elect Option “B” and nominate a beneficiary as provided in this subsection. Upon the death of a general member or police officer member who has an Option “B” election in force, his or her beneficiary shall immediately receive a pension which is the Option “B” actuarial equivalent of a pension computed according to § 35-23 if a general member, or according to § 35-24.1 if the member was a police officer member, in the same manner as if he or she had retired the day preceding the date of his or her death, notwithstanding that he or she might not have attained his or her voluntary retirement age. If a general member or police officer member has an Option “B” election in force at the time of his or her retirement his or her election of Option “B” and nomination of beneficiary shall thereafter continue in force, unless within 60 days preceding the date of his or her retirement he or she elects to take his or her pension as a straight life pension or under another option provided in § 35-26. No pension shall be paid under this subsection on account of the death of a member if any benefits are paid or payable under § 35-32 on account of his or her death.
(b) Any general member or police officer member who continues in the employ of the City after he or she either has acquired 20 years of credited service, or has attained age 55 years and has ten or more years of credited service, and in either case does not have an Option “B” election provided in subsection (a) of this section in force, and dies prior to his or her retirement while in City employment, and leaves a surviving spouse, or if no surviving spouse, the individual designated as the beneficiary for purposes of refund of contributions filed with the retirement system, the surviving spouse, or designated beneficiary if there is no surviving spouse, shall receive a pension computed according to § 35-23 if the member was a general member, or according to § 35-24.1 if the member was a police officer member, in the same manner as if the member had retired the day preceding the date of his or her death, notwithstanding that he or she might not have attained his or her voluntary retirement age, elected Option “B” provided in § 35-26, and nominated a beneficiary who has an insurable interest in his or her life. No pension shall be paid under this subsection on account of the death of a member if any benefits are paid or payable under § 35-32 on account of his or her death.
(c) General members not represented by recognized bargaining units and employed by the Board of Hospital Managers who are participants in the contributory plan and have 15 or more years of credited service, or are in the noncontributory plan and have ten or more years of credited service in a pension and do not have an option by election provided in subsection (a) of this section in force, and die prior to retirement while in City employment, and leave a surviving spouse, or if no surviving spouse, the individual designated as the beneficiary for the purposes of refund of contributions filed with the retirement office, the surviving spouse shall receive a pension computed according to § 35-32 in the same manner as if the member had retired the day preceding the date of his or her death, notwithstanding that he or she might not have attained his or her voluntary retirement age, elected Option “B” provided in § 35-26, and nominated his or her surviving spouse, or if no surviving spouse, the individual designated as the beneficiary for purposes of refund of contributions, filed with the retirement system. No pension shall be paid under this subsection on account of the death of a member if any benefits are paid or payable under § 35-32 on account of his or her death.
(d) General members not represented by recognized bargaining units and not employed by the Board of Hospital Managers who have ten years or more of credited service in a pension and do not have an Option “B” election as provided in subsection (a) of this section in force, and die prior to retirement while in City employment, and leave a surviving spouse, or if no surviving spouse, the individual designated as the beneficiary for the purposes of refund of contributions filed with the retirement office, the surviving spouse shall receive a pension computed according to § 35-32 in the same manner as if the member had retired the day preceding the date of his or her death, notwithstanding that he or she might not have attained his or her voluntary retirement age, elected Option “B” provided in § 35-26, and nominated his or her surviving spouse, or if no surviving spouse, the individual designated as the beneficiary for purposes of refund or contributions, filed with the retirement system. No person shall be paid under this subsection on account of the death of a member if any benefits are paid or payable under § 35-32 on account of his or her death.
(Ord. 1860, passed 8-16-1965; Ord. 1889, passed 3-21-1966; Ord. 2314, passed 3-13-1972; Ord. 2370, passed 12-11-1972; Ord. 2446, passed 7-1-1974; Ord. 2496, passed 5-19-1975; Ord. 3238, passed 7-12-1993; Ord. 3243, passed 8-9-1993)