Refund on Separation

(a)[No text]

(1)Upon complete separation from service before a member shall have completed at least twentyfive

(25)years of total service, the member shall be entitled to receive a refund of his or her total contributions, including regular interest, but no payment of interest shall be made in any case in which total service is less than one

(1)year. Total contributions shall include all contributions made by a member to obtain various types of credit authorized by this Chapter.

(2)Any member who withdraws after having completed at least five

(5)years total service shall have the option of leaving his or her contributions in the Fund and receiving a service retirement annuity upon attainment of the age of sixty

(60)years without choice of any of the optional survivors’ benefits hereinunder described.

(3)If such member has less than twenty-five

(25)years of total service, he/she may elect to receive his or her contributions, with regular interest, as herein above provided, in lieu of the service retirement annuity. If his or her total service is twenty-five

(25)years or more, the acceptance of such deferred retirement annuity payment beginning at the age of sixty

(60)years, shall be mandatory as to such member.

(4)Any member receiving a refund of contributions shall thereby forfeit, waive and relinquish all accrued rights and benefits in the system, including all credited and creditable service. The Board may, in its discretion regardless of cause, withhold payment of a refund for a period not to exceed three

(3)months after receipt of an application from a member.

(b)Any member who receives a refund of contributions shall thereafter be ineligible for membership in the Defined Benefit Plan.