What happens if I leave City employment before I can retire?
If you terminate City employment (other than by death or disability) after you have completed 10 or more years of credited service, but have not reached the required age, and you leave your accumulated contributions in the Plan, you will be eligible for a deferred pension. Your pension would be based on your final average earnings, credited service and benefit provisions in effect at the time you leave City employment. In order to begin receiving a pension, you must submit a written application the Plan Administrator upon reaching your early or normal retirement date.

If you elect a refund of accumulated member contributions (including interest) after termination of employment or if your assets are transferred to the Defined Contribution Plan, you will forfeit your right to any pension from the Defined Benefit Plan.

Show All Answers

1. How do I know if I am eligible to participate in the General Employee Defined (DB) Retirement Plan?
2. When do I become eligible for normal retirement benefits?
3. How is the amount of my normal retirement benefits computed?
4. When you calculate my pension, what is included in my earnings?
5. Can I retire before I am eligible for normal retirement benefits?
6. How is my early retirement pension computed?
7. How long are pension payments made?
8. Can I provide for payments to continue to a beneficiary upon my death?
9. What happens if I leave City employment before I can retire?
10. What if I leave City employment before I have the required 10 years of credited service?
11. Are benefits paid if I die before I retire?
12. What happens if I am disabled?
13. Who pays for retirement benefits?
14. Can I ever lose the contributions I made to the Plan?
15. What happens to the pension contributions?
16. Who administers the Defined Benefit Plan?
17. What are my medical benefits under the Defined Benefit (DB) Retirement Plan?
18. What is a Deferred Retirement Option Plan (DROP)?
19. Can I purchase prior Military Service?