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D. Distributions under this section shall be made in accordance with the Internal Revenue Code, Section 401(a)(9), and the regulations thereunder. E. Effective for distributions after December 31, 1992, a distributee may elect to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by a qualified distributee in a direct rollover as provided in Section 2.62.530. 2.62.410 Early Service Retirement Upon application of an employee who has attained the age of fifty (50) and has at least twenty (20) years of service, the employee shall be retired and shall be eligible for either of the benefits prescribed by this chapter for such person. 2.62.420 Disability Retirement An employee who becomes disabled due to injury or illness on or after May 1, 2001, regardless of length of service, shall be eligible for a disability benefit up to sixty-seven percent (67%) of his or her compensation. Notwithstanding any other provisions of this chapter, such disability benefit shall be provided under, and in accordance with the terms, conditions, requirements, limitations, rules and procedures (including, but not limited to, the criteria for determining disability, rules and procedures regarding medical examinations, the commencement and duration of payments, offsets for other benefits or payments and application procedures), of an insurance contract purchased by the board of trustees. Premiums for such insurance contract shall be paid from the fund. The disability benefit under this section shall be in addition to any benefit to which an employee is entitled upon retirement or after leaving the service pursuant to Section 2.62.400 or 2.62.410. 2.62.422 Reserved 2.62.424 Reduction of Benefits for Compensation under Workmen's Compensation Law A. If an employee or his/her dependents are entitled to benefits under this chapter and likewise to benefits under the workers' compensation law as a result of the same injury, the benefits payable under this chapter shall, to the extent permitted by applicable law, be reduced in the manner prescribed by the statutes of the state of Missouri, and if there is no applicable statute, then the benefits shall be adjusted in accordance with subsection B of this section. B. The amount of benefit under Section 2.62.405 shall be reduced by the amount of monthly income paid under the workers' compensation law or attributed to the workers' compensation law. The board of trustees shall Restated Police Pension Plan—City of University City Page 13