Sec. 22-50(a). Fraudulent acts prohibited. Any person who knowingly makes any false statement with respect to or falsifies or permits to be falsified any record, application or form of the system in an attempt to defraud the system or defeat the right of a member to receive a retirement benefit to which they may be entitled is guilty of a crime and shall be subject to prosecution in accordance with the applicable criminal statutes.
Sec. 22-50(b). Correction of errors. The board shall correct errors in the records and actions of the system administration. The board shall seek to recover overpayments and shall make up underpayments. Recovery of overpayments may be accomplished by reducing the amount of future payments so that the actuarial present value of actual payments is equal to the actuarial present value of correct payments.
Sec. 22-50(c). Employment rights. The system shall not be construed as giving an employee any right to be retained in the service of the city without its consent nor shall the system interfere with the right of the city to discharge an employee, nor shall an employee be given any right, claim or interest in any benefits of the system except upon fulfillment of the conditions and requirements of the system.
Sec. 22-50(d). Applicable laws. The system shall be construed and enforced under the laws of the State of Arizona and any federal law, rule or regulation applicable to a tax-qualified governmental retirement plan structured in accordance with Section 414(d) of the Code and Section 3(32) of the Employee Retirement Income Security Act of 1974, and all of the provisions hereof shall be administered in accordance therewith.
(Ord. No. 10657, § 5, 4-28-09, eff. 7-1-09)