Neither the participant, nor his beneficiary nor any other designee, shall have any right to commute, sell, assign, transfer or otherwise convey the right to receive any payments under this plan, which payments and rights thereto are expressly declared to be nonassignable and nontransferable. In the event of any attempted assignment or transfer, the City shall have no further liability under the plan; nor shall any payments be subject to attachment, garnishment or execution, or be transferable by operation of law in event of bankruptcy or insolvency, except to the extent otherwise provided by law.
(Ord. 60-1973. Passed 6-12-73.)