The Pension Savings Plan may be amended or terminated by the City at any time or the City may, without amending or terminating the Plan, cease to set aside assets under the Plan. No amendment or termination of the Plan, and no cessation of the setting aside of assets shall reduce or impair the rights of any participant or beneficiary which have already accrued. In the event the Plan is terminated by the City, the City shall distribute to each participant in a single cash payment the balance in such participant’s Investment Account, less any tax liabilities, as soon as practicable after such termination.
SECTION HISTORY
Added by Ord. No. 169,047, Eff. 10-23-93.