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§ 2.5-44 TERMINATION BENEFITS AND VESTING.
   (a)   Contribution refund prior to vesting. Any group I general member who is voluntarily or involuntarily separated from the service of the city before the group I general member is vested shall be entitled to receive the amount of the group I general member's contributions plus regular interest less any amount previously paid to the group I general member from the fund.
   (b)   Contribution refund after vesting in lieu of vested terminated pension. Any vested group I general member who is voluntarily or involuntarily separated from the service of the city may elect to receive a refund of the group I general member's contributions, plus regular interest, less any amount previously paid to the group I general member from the fund, either at the date of such separation or at any time thereafter prior to commencement of retirement benefit, but by so doing, the group I general member shall forfeit all rights under the fund and thereafter be entitled to no further benefits hereunder.
   (c)   Vested terminated pension.
      (1)   A vested terminated group I general member shall be entitled to receive a vested terminated pension payable:
         a.   In full, pursuant to § 2.5-45(b)(1) and (2); or
         b.   In a reduced amount commencing on or after age 50 pursuant to § 2.5-45(b)(5).
      (2)   A vested terminated group I general member must file a request for the commencement of the vested terminated pension by completing such forms and following such procedures as are established by the board. A vested terminated pension shall be payable monthly on the first day of each month commencing with the month following approval of the group I general member's vested terminated pension by the board.
(Ord. 20471-10-2012, § 2, passed 10-23-2012; Ord. 22977-10-2017, § 1, passed 10-24-2017; Ord. 23516-12-2018, § 1, passed 12-11-2018)