§ 13-34. Vesting.

If a member terminates his employment as a firefighter, either voluntarily or by discharge, and is not eligible for any other benefits under this system, the member shall be entitled to the following:

(1)

If the member has less than ten (10) years credited service upon termination, the member shall be entitled to a refund of his accumulated contributions or the member may leave it deposited with the fund.

(2)

If the member has ten (10) or more years of credited service upon termination, the member shall be entitled to a monthly retirement benefit, determined in the same manner as for normal retirement and based upon the member's credited service, average final compensation and the benefit accrual rate as of the date of termination. The benefit shall be payable for life and ten (10) years certain and shall commence at the member's attainment of age fifty-five (55) years unreduced or as early as attainment of age forty-five (45) years actuarially reduced for each year prior to age fifty-five (55) years, provided he does not elect to withdraw his accumulated contributions and provided the member survives to attainment of at least age forty-five (45) years. If the member does not withdraw his accumulated contributions and does not survive to attainment of at least age forty-five (45) years, his designated beneficiary shall be entitled to a benefit as provided herein for a deceased member, vested or eligible for retirement under preretirement death.

(Ord. No. O-10-19, § 1, 7-26-10)