Upon the resignation date set forth in the police officer’s DROP option notice or such date as the Township separates the officer from employment, the retirement benefits payable to the officer or officer’s designated beneficiary, if applicable, shall be paid to the officer or beneficiary and shall no longer be paid to the officer’s DROP account. Within 30 days following termination of an officer’s employment pursuant to their participating in the DROP, the total accumulated benefits in the officer’s DROP account shall be calculated and paid out of the Upper Dublin Police Pension Fund to the officer in a single lump sum payment or at the member’s option, in any fashion permitted by law. By participating in the DROP, each officer must agree to hold the Township harmless for any tax or other consequences flowing from the officer’s disposition of the payout under this article.