(A) No pension provided for in this subchapter shall be assignable or subject part of the corpus or income of the Pension Fund be used for, or diverted to, purposes other than for the exclusive benefit of members and their beneficiaries and until those liabilities are satisfied, all city contributions will remain in the Fund for the benefit of the members or beneficiaries in the event the system is terminated or city contributions cease.
(B) Upon the termination of the system or on the complete discontinuance of contributions under the system, each member shall have nonforfeitable, 100% vested rights to benefits accrued to date of the termination or discontinuance to the extent funded at that time.
(‘69 Code, § 5-183) (Ord. 557, passed 2-19-81; Am. Ord. 1353, passed 9-20-00; Am. Ord. 1480, passed 3-17-04)