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 Port Orange
 Code of Ordinances
 Chapter 54. PERSONNEL
 Article IV. FIRE AND RESCUE PENSION FUND

  § 54-85. Vesting.  

Latest version.

  • 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 years of 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 for up to five years following termination.

    (2)

    If the member has ten 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, provided, however, that vested terminated persons shall not receive the monthly supplemental benefit. The retirement benefit shall be payable to him commencing at the member's otherwise normal or early retirement date, provided he does not elect to withdraw his accumulated contributions and provided the member survives to his normal or early retirement date. If the member does not withdraw his accumulated contributions and does not survive to his normal or early retirement date, his designated beneficiary shall be entitled to a pre-retirement death benefit as provided in subsection 54-83(b) for a deceased member, vested or eligible for retirement.

(Ord. No. 2007-29, § 1, 9-18-07)