(a) Any member who has thirty or more years of credited service, who leaves City employment prior to attaining fifty years of age for any reason except his or her death or retirement, shall be entitled to a retirement allowance at age fifty as provided for in Section 294.14(a), (b) and (d), at the benefit formula multiplier then in effect, provided that he or she does not withdraw his or her accumulated contributions from the Annuity Savings Fund. His or her retirement allowance shall begin the first day of the calendar month next following the month in which he or she files his or her application for the same with the Retirement Commission on or after he or she attains the age of fifty.
(b) Effective July 1, 1983, any member who has twenty-eight or more years of credited service, who leaves City employment prior to attaining fifty-five years of age for any reason except his or her death or retirement, shall be entitled to a retirement allowance at age fifty-five as provided for in Section 294.14(a), (b) and (d), at the benefit formula multiplier then in effect, provided that he or she does not withdraw his or her accumulated contributions from the Annuity Savings Fund. His or her retirement allowance shall begin the first day of the calendar month next following the month in which he or she files his or her application for the same with the Commission on or after he or she attains the age of fifty-five.
(c) Effective September 1, 1987, any member who has twenty-eight or more years of credited service, who leaves City employment prior to attaining fifty years of age for any reason except his or her death or retirement, shall be entitled to a retirement allowance at age fifty as provided for in Section 294.14(a), (b) and (d), at the benefit formula multiplier then in effect, provided that he or she does not withdraw his or her accumulated contributions from the Annuity Savings Fund. His or her retirement allowance shall begin the first day of the calendar month next following the month in which he or she files his or her application for the same with the Commission on or after he or she attains the age of fifty.
(d) Any member who has ten through twenty-seven years of credited service, who leaves City employment prior to attaining sixty years of age for any reason except his or her death or retirement, shall be entitled to a retirement allowance at age sixty as provided for in Section 294.14(a), (b) and (d), at the benefit formula multiplier then in effect, provided that he or she does not withdraw his or her accumulated contributions from the Annuity Savings Fund. His or her retirement allowance shall begin the first day of the calendar month next following the month in which he or she files his or her application for the same with the Commission on or after he or she attains the age of sixty.
(e) If such a member withdraws all or part of his or her accumulated contributions from the Annuity Savings Fund, he or she shall thereupon cease to be a member and shall forfeit his or her rights in and to a deferred retirement allowance provided in this section. Except as otherwise provided, such member shall not be given service credit for the period of his or her absence from City service.
(f) Effective July 1, 1982, if any member who has fifteen or more years of credited service dies after leaving City employment and before being entitled to retirement allowance, then applicable benefits provided for in Section 294.16 shall be paid.
(Res. 88-388. Passed 5-23-88.)
(g) The provisions of this retirement system chapter notwithstanding, the accrued benefit for plan participants shall be non-forfeitable upon the attainment of normal retirement age.
(Res. 2011-72. Passed 4-4-11.)