[Amended 10-1-1970 by Ord. No. 2198]
A. 
All retired City employees, or their surviving spouses, receiving benefits under Ordinance No. 2026, or amendments thereto, shall, as of November 1, 1970, cease to receive such benefits, but shall receive a pension equal to that afforded to the present employees of the City, or their surviving spouses, under Ordinance No. 2118, as amended, being Article III of this chapter.
B. 
All recipients of a retirement benefit or pension provided for herein shall not have a vested interest therein, and said pension and benefit may be terminated at any time by the City by appropriate ordinance.
C. 
If any funds remain on hand with the City in the pension plan established by Ordinance No. 2026, the same shall be transferred to the general fund of the City to be applied on payment of benefits provided by this section.
D. 
The benefits payable under this section to retired employees or their surviving spouses, by virtue of Ordinance No. 2026, shall first be paid out of the funds referred to in Subsection C, and thereafter paid out of the general fund of the City.