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be separate accounts described in the Internal Revenue Code, Section 414(k). B. Each investment account shall be credited with: 1. Except as otherwise provided in Section 2.62.450.E, all amounts contributed by the employee prior to May 1, 2001, under Section 2.62.300, if any, plus interest on each such amount from the date it was contributed through May 1, 2001 (or, in the case of an employee who is not in service during the period beginning September 1, 2000 and ending May 1, 2001, the date the employee is reinstated in the police or fire department) at the rate of eight percent compounded annually; and 2. All amounts contributed by the employee after April 30, 2001 under Section 2.62.300, subject to the limitations of the Internal Revenue Code, Section 415, and the regulations thereunder. C. An employee who has an investment account established under subsection A of this section and has completed ten years of service may elect to have an amount credited to his or her investment account equal to: 1. The present value of the employee's deferred retirement benefit under Section 2.62.405.0 accrued as of the employee's vesting date based on deferral computed to the earlier of attainment of age fifty- five (55) by the employee or the date at which the employee would satisfy the requirement of Section 2.62.410, if the employee is assumed to continue in employment until that date, determined using the interest rate and the mortality table set forth in the definition of Actuarial Equivalence; 2. Less the sum of a. All amounts contributed by the employee under Section 2.62.300 prior to May 1, 2001 and on or before his or her vesting date, and b. All amounts that would have been contributed by the employee under Section 2.62.300 after April 30, 2001 and on or before his or her vesting date if such contributions were determined on the basis of the base salary, and Restated Police Pension Plan—City of University City Page 37