If any member shall be physically or mentally incapable of receiving
or acknowledging receipt of any payment of pension benefits hereunder,
the Board, upon the receipt of satisfactory evidence that such member
is so incapacitated and that another person or institution is maintaining
him and that no guardian or committee has been appointed for him,
may provide for such payment of pension benefits hereunder to such
person or institution so maintaining him, and any such payments so
made shall be deemed for every purpose to have been made to such member.
If any benefit shall be payable under the plan to or on behalf
of a member who has died, if the plan provides that the payment of
such benefits shall be made to the member's estate, and if no
administration of such member's estate is pending in the court
of proper jurisdiction, then the Board, at its sole option, may pay
such benefits to the surviving spouse of such deceased member or,
if there is no such surviving spouse, to such member's then living
issue, per stirpes; provided, however, that nothing contained herein
shall prevent the Board from insisting upon the commencement of estate
administration proceedings and the delivery of any such benefits to
a duly appointed executor or administrator.
Subject to the provisions of the Act, no past, present or future
officer of the City and/or Board shall be personally liable to any
member, designated beneficiary or other person under any provision
of the plan or any policy issued pursuant thereto.
Nothing contained herein shall be deemed to give any member
or beneficiary any interest in any specific property of the fund or
any right except to receive such distributions as are expressly provided
for in this plan.
Participation in this plan shall not give any right to any employee
to be retained in the employ of the City, nor shall it interfere with
the right of the City to discharge any employee and to deal with him
without regard to the effect that such treatment might have upon him
as a member in this plan.
The income and principal of the fund are for the sole use and
benefit of the members of this plan and, to the extent permitted by
law, shall be free, clear and discharged of and from and are not to
be in any way liable for debts, contracts or agreements, now contracted
or which may hereafter be contracted, and from all claims and liabilities
now or hereafter incurred by any member or beneficiary.
As used herein the masculine gender shall include the feminine
gender and the singular shall include the plural in all cases where
such meaning would be appropriate. Headings of articles and sections
are inserted only for convenience of reference and are not to be considered
in the construction of the plan.
The City shall furnish to the Board (and, where applicable,
the trustee or custodian) information in the City's possession
as the Board and the trustee or custodian shall require from time
to time to perform their duties under the plan.
To the extent permitted by law, no payments to any person under
any contract, nor the right to receive such payments, nor any interest
in this plan and fund, shall be subject to assignment, alienation,
transfer or anticipation, either by voluntary or involuntary act of
any member or beneficiary or by operation of law, nor shall such payment
right or interest be subject to the demand or claims of any such person's
debts, obligations, or liabilities.
A.
The City intends that the plan and accompanying fund herein created
shall qualify under the provisions of Section 401(a) of the Internal
Revenue Code, as such provisions apply to qualified government plans
and as an "exempt organization" within the meaning of Section 401(a)
of the Internal Revenue Code, or under any comparable section of any
future legislation which amends, supplements or supersedes said section.
B.
Nevertheless, all taxes of any and all kinds whatsoever that may
be levied or assessed under the existing or future laws upon the fund
or the income thereof and investment charges shall be paid from the
fund.
