Each participant shall be deemed to have assented to all the terms and conditions of the Plan upon execution of a Participation Agreement. No participant shall have the power or right to sell, transfer, assign, hypothecate, or otherwise dispose of all or any part of the Investment Account or any right which the participant may have under the Plan.
Each participant shall have the right to designate a beneficiary or beneficiaries, including contingent beneficiaries, to receive any benefits which may be payable under the Plan upon the death of such participant.
Each participant may request the City to make distribution of benefits to such participant or the designated beneficiaries in any manner authorized in the Plan. The City shall give due consideration to such requests but shall not be bound by them. Final determination regarding the method and manner of all distributions from the Plan shall, at all times, be at the discretion of the City.
SECTION HISTORY
Added by Ord. No. 154,806, Eff. 2-13-81.