The Board of Fire and Police Pension Commissioners shall have the authority to declare a forfeiture of all monies, including but not limited to contributions, interest thereon and benefits, that become payable or distributable from the Plan to any owner who either cannot be found or refuses to accept the payment or distribution of such monies within ten years of the date such monies become payable or otherwise distributable from the Plan. However, at the discretion of the Board, a person may be relieved from a forfeiture declared under this section. The Board may delegate its authority to declare a forfeiture of money or its discretion to relieve a person from a forfeiture of money to the general manager of the Department of Fire and Police Pensions pursuant to rules adopted by the Board.
SECTION HISTORY
Added by Charter Amendment G § 7, approved March 8, 2011, effective April 8, 2011.