(a) Except as otherwise set forth in Section 291.06(b), if a member who makes contributions to the Pension Fund ceases employment before the member becomes entitled to receive a pension benefit, the total amount of the member's contributions paid to the Pension Fund shall be refunded, in full, without interest.
If a member terminates his or her employment and is later re-employed by the employer as a member of its Department of Fire, the member shall receive credit for the years of continuous service earned prior to the member's date of termination only if the member repays the amount the member received at the time the member terminated employment with the employer.
If a member dies at a time prior to the member's eligibility to receive a pension benefit from the Pension Fund, the member's surviving spouse shall receive any death benefits payable to survivors as provided in Section 291.05. If such member is not survived by a spouse, however, then the total contribution paid into the Pension Fund by the member shall be paid to the member's estate.
(b) In lieu of a return of member contributions, a member who ceases employment for any reason other than death or total and permanent disability prior to meeting the age and years of service requirements applicable to the member to be eligible for immediate receipt of a full, unreduced normal retirement benefit, but after completing at least twelve years of continuous service, shall be entitled to vest the member's retirement benefits subject to the following conditions:
(1) The member must file with the Board of Trustees a written Notice of the Member's intention to vest.
(2) The member must include in the Notice the date the member intends to terminate the member's employment, and must include an irrevocable letter of resignation effective on the selected termination date.
(3) The termination date shall be at least thirty days, but no later than sixty days, following the date of the Notice to vest.
(4) The member must be in good standing with the Department of Fire on the date of the Notice to vest.
(5) The Board of Trustees shall indicate on the Notice to vest the final monthly average salary of the member as of the date of the notice to vest.
(c) For members electing a deferred vested benefit in accordance with Section 291.06(b), upon reaching the date that would have been the date that the member became eligible for an immediate receipt of a full, unreduced normal retirement benefit if the member had continued in the full-time employment of the City, the member shall notify the Board of Trustees, in writing, that the member desires to collect the member's pension. The amount of retirement benefits the member is entitled to receive under this Section shall be computed as follows:
(1) The initial determination of the member's base retirement benefits shall be computed on the salary indicated on the Notice to vest pursuant to Section 291.06(b)(5) above.
(2) For members hired on or after January 24, 2001, the portion of the base retirement benefits due to the member shall be determined by applying to the base amount the percentage that the members years of service actually rendered bears to the years of service which would have been rendered had the member continued to be employed by the Department of Fire until reaching the date that the member would have been eligible for immediate receipt of a full, unreduced normal retirement benefit.
(Ord. 4441. Passed 10-28-87; Ord. 5355. Passed 6-14-23.)