Chapter 2 ADMINISTRATION*

Section 2-192 Death before receiving benefits.

(a)    Should any member of the Pension Plan, who has ten  (10) or more years of membership in the Pension Fund, die while still in the active employment of the City, the surviving spouse of the  member will be entitled to a pension if the employee elects this option. A married employee is  deemed to have elected this option unless he has specifically rejected it in writing. The amount of pension shall be fifty percent (50%) of the benefits accrued to the employee at the time of death. The accrued benefits will be calculated as for normal retirement but will reflect the years of service  and average  salary at time of death. The benefits, so calculated, shall be payable for the survivor's lifetime or until he remarries. The survivor who is entitled to benefits under this section may elect  to receive a refund of contributions, as covered under paragraph (b), in lieu of a pension if  he so desires.

(b)    Should any member die without actually receiving  any cash benefits hereunder and have  less than ten (10) years of service in the Pension Fund or have no surviving spouse entitled to receive benefits under subsection (a), the amount he has contributed to the Pension Fund, plus interest, shall be paid in a lump sum to his heirs at law, or to any person designated by such  member in writing before his death.

(c)    Should a retired member die without having received in pension benefits a sum equal to the  amount he has paid into the Pension Fund plus interest to the date of retirement, and not have a  surviving spouse designated to receive a pension, then the difference between the amount paid plus  interest and the amount received by the member shall be paid to his heirs at law or to the person designated as beneficiary by the member in writing before his death.

(d)    Interest will be calculated as follows:

(1)    Two and one-half percent (2.5%) for the period of time  prior to 1971;

(2)    Four percent (4.0%) from January 1, 1971 through December 31, 1976;

(3)    Five percent (5.0%) from January 1, 1977,  through  June 30, 2004.

(4)    Three percent (3%) from July 1, 2004, through December  31, 2004.

(5)  Effective January 1, 2005, interest will be calculated using the applicable Federal long-term  interest rate as found in Section 1274(d) of the Code.

 All interest will be compounded annually.

 (Ord. of 12-23-96(1),Ord of 2-8-99; Ord of 5-10-2000; Ord of 6-14-04; TQM Code update of 10-11-04)

(TQM Code Update - Ch.2, Amended, 10/11/2004, Prior Text; 2-192(d), Amended, 06/14/2004, Prior Text; 1999 (2-192d4), Amended, 05/10/2000, Prior Text; 1999 (2-192), Amended, 02/08/1999, Prior Text);