Except as otherwise required by law, the value of the Trust funds remaining after providing for the expenses of final administration of the Employees' Pension Plan to the extent sufficient shall be allocated for the purpose of paying retirement benefits under the Plan in the following order of precedence:
(a) First, to benefits attributable to a member's voluntary contributions;
(b) Second, to benefits attributable to a member's mandatory contributions;
(c) Third, in the case of benefits payable as an annuity:
(1) In the case of the benefit of a member or beneficiary which benefit was in pay status as of the beginning of the three-year period ending on the termination of the Plan, to each such benefit, based on the provisions of the Plan (as in effect during the five-year period ending on such date) under which such benefit would be the least, provided, however, the lowest benefit in pay status during a three-year period shall be considered the benefit in pay status for such period.
(2) In the case of a member's or beneficiary's benefit (other than a benefit described in paragraph (c)(1) hereof), which would have been in pay status as of the beginning of such three-year period if the member had retired prior to the beginning of the three year period and if his or her benefits had commenced (in the normal form of annuity under the Plan) as of the beginning of such period, to each such benefit based on the provisions of the Plan (as in effect during the five-year period ending on such date) under which such benefit would be the least.
(d) Fourth, to all other nonforfeitable benefits under the Plan;
(e) Fifth, to all other benefits under the Plan.
(Ord. 826. Passed 10-9-84.)