§ 54-34. Vesting.

If a member terminates his employment as a general employee, 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 five years credited service upon termination, the member shall be entitled to a refund of his accumulated contributions, if any, or the member may leave it deposited with the fund.

(2)

If the member has five 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 or early retirement and based upon the member's credited service, average final compensation and the benefit accrual rate as of the date of termination, payable to him commencing at member's otherwise normal or early retirement date, determined based upon his actual years of credited service, provided he does not elect to withdraw his accumulated contributions, if any, and provided the member survives to his otherwise normal or early retirement date. If the member does not withdraw his accumulated contributions, if any, and does not survive to his otherwise normal or early retirement date, his beneficiary shall be entitled to a benefit as provided herein for a deceased vested member under section 54-32.

(Ord. No. 11-33, § 1, 10-27-11)