(a) When benefits are payable to a minor, an individual who has legally been determined to lack capacity, or an individual whom the board determines to be unable to handle money, the board shall make payments, without any duty to see to the application thereof, to the guardian of such person’s estate or, if there is none, as the board determines to be in the best interest of such person.
(b) If a retired city employee who is receiving pension benefits from the fund is re-employed by the city as a regular employee, that person’s pension benefits shall cease upon the date of re-employment. credited service earned during the term of any member’s subsequent re-employment in which the employee’s pension benefits have been suspended shall be added to the credited service of the prior periods of employment, and upon final separation from the city, a new pension shall be calculated taking into account the member’s total years of credited service and recalculated compensation base. In no event shall the member’s monthly pension be reduced due to periods of re-employment.
(c) If the distributee of an eligible rollover distribution (as defined in the code § 402(f)(2)(A) (i) elects to have such distribution paid directly to another eligible retirement plan and (ii) specifies in writing (before the distribution is made) the eligible retirement plan to which such distribution is to be made, the distribution will be made in the form of a direct trustee-to-trustee transfer to the eligible retirement plan so specified.
(Ord. 20471-10-2012, § 2, passed 10-23-2012)