(A) Every employee shall contribute to the retirement system, on a voluntary basis only, a portion of his or her salary as hereinafter set out, and shall authorize the City Clerk to deduct such sum from his or her salary, provided that no employee other than those presently on the retirement rolls and receiving benefits shall receive any of the benefits provided for in this subchapter, unless he or she shall have contributed as provided herein. Any employee who is employed by this city after November 24, 1964, as a condition of his or her employment, shall agree to contribute to the system as follows: 2% of his or her salary for the calendar years 1964 and 1965. The rate for future years will be determined by November 1 of each year.
(B) (1) Contributions under this section shall be made by payroll deductions on and after the effective date of the system.
(2) If an employee leaves the service of this city for any reason, all contributions made by him or her to the system shall be refunded. Each employee shall designate, in writing, a beneficiary, and upon his or her death, any sum contributed to the system by the deceased employee shall be paid to the designated beneficiary.
(3) No payment shall be made to the designated beneficiary if the deceased employee leaves surviving him or her a widow, or child or children under the age of 18 years, or if the employee, his or her widow, or child or children have received, or are entitled to receive, any payments under the terms of this subchapter from the funds of the system.
(4) Any refunds made by the system to an employee or his or her beneficiary shall be with interest as prescribed by the Board of Trustees.
(Prior Code, § 30.083)