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Service or after the attainment of age 62, if earlier, the Mem- <br />ber's designated Joint Annuitant shall receive, at their discre- <br />tion, either a refund of Accumulated Contributions, or an immedi- <br />ate or deferred annuity which shall be computed based upon the <br />assumption that the Member had retired on the date of death and <br />had elected the 100$ Joint and Survivor Annuity form of payment. <br />B. Non-vested. In the event that a Member dies <br />prior to the completion of ten (10) years of Credited Service, no <br />benefits are payable. <br />5. Vesting - if a Member terminates his employment, <br />either voluntarily or by discharge, and is not eligible for any <br />other benefits under this Plan, he shall be entitled to the <br />following: <br />A. With less than ten (10) years of Credited <br />Service - none. <br />B. With 10 or more years of Credited Service - <br />1. The pension benefit accrued to his date <br />of termination payable for life, commencing at the Member's <br />Normal Retirement Date or Early Retirement Date, provided the <br />Member survives until benefit payments actually begin. The <br />benefit shall be determined as for Normal Retirement, but shall <br />be reduced 5/12$ for each month that the benefit commencement <br />date precedes the Normal Retirement Date. In the event that the <br />Member dies prior to the commencement of benefits, no benefits <br />are payable. <br />Forfeitures arising from terminations <br />of employment shall serve only to reduce future City contribu- <br />tions and shall remain as a part of the assets of the Fund. <br />9 <br />