Berkeley Municipal Code Art. 5 Distribution of Benefits

Every participant’s participation in the plan shall terminate when they retire on their normal or deferred retirement date. The committee shall thereupon direct the trustee to distribute such participant’s entire account in accordance with the provisions of Article 6. (Ord. 6747-NS § 1, 2003)

The normal retirement date of each participant shall be any date as of which such participant qualifies for retirement without reduction in benefits in accordance with the contract between the employer and PERS which covers miscellaneous employees. (Ord. 6747-NS § 1, 2003)

If a participant continues to work beyond their normal retirement date, contributions will continue until their actual retirement. The deferred retirement date of such participant shall be the first day of the month concurrent with or next following their actual retirement. (Ord. 6747-NS § 1, 2003)

A participant who has attained the age of 55 years may retire as of the first day of any calendar month. (Ord. 6747-NS § 1, 2003)

When a participant’s participation in the plan is terminated by total disability or death, the committee shall direct the trustee to distribute such account to the participant, or the participant’s beneficiary in the event of death, in accordance with the provisions of Article 6. (Ord. 6747-NS § 1, 2003)

Each participant shall have the right to designate, on forms provided by the committee, a beneficiary to receive the benefits herein provided in the event of such participant’s death and shall have the right at any time to revoke such designation or to substitute another beneficiary. (Ord. 6747-NS § 1, 2003)

If, upon the death of a participant, former participant, or beneficiary, there is no valid designation of beneficiary on file with the committee, the committee shall designate as beneficiary, in order of priority, (a) surviving spouse, (b) surviving issue including adopted ones on a per stirpes basis, (c) surviving parents, or (d) the estate, provided that at all times the committee shall have the reserved right to select (d) irrespective of said order of priority. The determination of the committee as to which persons, if any, qualify within the aforementioned categories shall be final and conclusive upon all persons. (Ord. 6747-NS § 1, 2003)

When a participant’s employment is terminated the committee shall direct the trustee to distribute such participant’s account balance in the manner and at the time set forth in Article 6. (Ord. 6747-NS § 1, 2003)