The payment of pensions shall be by order of the Board of Trustees of the Pension Fund, signed by the President and countersigned by the Secretary via electronic transfer to the beneficiaries' designated bank accounts on the first business day of the month. The first monthly payment shall be made for the month next following the retired member's retirement date except as otherwise specifically provided in this subchapter, and the final monthly payment, for the month in which his or her death occurs, shall be a full monthly payment.
(1999 Lou. Code, § 36.139) (Lou. Ord. No. 43-1974, approved 5-20-1974; Lou. Metro Am. Ord. No. 64-2004, approved 6-3-2004; Lou. Metro Am. Ord. No. 102-2006, approved 6-30-2006)