(a) Contribution refund prior to vesting. Any group V firefighter who is voluntarily or involuntarily separated from the service of the city before the group V firefighter is vested shall be entitled to receive the amount of the group V firefighter's contributions plus regular interest less any amount previously paid to the group V firefighter from the fund.
(b) Contribution refund after vesting in lieu of vested terminated pension. Any vested group V firefighter who is voluntarily or involuntarily separated from the service of the city may elect to receive a refund of the group V firefighter's contributions, plus regular interest, less any amount previously paid to the group V firefighter 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 V firefighter 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 V firefighter shall be entitled to receive a vested terminated pension payable:
a. In full, pursuant to § 2.5-65(b)(1) and (2); or
b. In a reduced amount commencing on or after age 50 pursuant to § 2.5-65(b)(5).
(2) A vested terminated group V firefighter 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 V firefighter's vested terminated pension by the board.
(Ord. 20471-10-2012, § 2, passed 10-23-2012; Ord. 21510-10-2014, § 2, passed 10-21-2014; Ord. 22977-10-2017, § 1, passed 10-24-2017; Ord. 23516-12-2018, § 1, passed 12-11-2018)