Berkeley Municipal Code Art. 5 Distribution of Benefits

Every participant’s participation in the plan shall terminate when they terminate employment with the employer and retire on their early, normal or deferred retirement date. The committee shall thereupon direct the trustee to distribute such participant’s entire account balance in accordance with the provisions of Article 6. (Ord. 6837-NS § 1 (part), 2005)

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 safety employees. (Ord. 6837-NS § 1 (part), 2005)

If a participant continues to work for the employer beyond their normal retirement date, contributions (if any are made under the plan in accordance with Section 4.39.301) will continue until their actual retirement from employment as a police employee. The deferred retirement date of such participant shall be the first day of the month concurrent with or next following their actual retirement. (Ord. 6837-NS § 1 (part), 2005)

A participant who has attained the age of 50 years may retire as of the first day of any calendar month. (Ord. 6837-NS § 1 (part), 2005)

When a participant’s participation in the plan is terminated by death, the committee shall direct the trustee to distribute the balance in their account to the participant’s beneficiary in accordance with the provisions of Article 6. (Ord. 6837-NS § 1 (part), 2005)

Each participant shall have the right to designate, at the time and in the manner and 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. 6837-NS § 1 (part), 2005)

If, upon the death of a participant, former participant, or beneficiary, there is no valid designation of beneficiary on file with the committee, the beneficiary shall be, 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. 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. 6837-NS § 1 (part), 2005)

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. 6837-NS § 1 (part), 2005)