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t (11) To a former employee who is eligible for deferred retirement benefits as set forth in Section 25-14(4) and has reached the age of fifty-five years, a monthly retirement benefit deter- mined by the ratio of the employee's completed years of service at the date of the employee's ceasing to be an employee, to the number of completed years of service the employee would have had at age fifty-five applied to the benefit the employee would have received had the employee been age fifty-five at the date the employee ceased to be an employee. (12) Upon the death of a former employee who is eligible for benefits under Section 25-14(4) the excess, if any, of the employee's accumulated contributions over the aggregate of any benefits the employee has received, will be payable' to the employee's designated beneficiary, or if none, 'then to the employee's estate. No other benefits are payable. (13) There shall be paid to current retirees who retired prior to October 1, 1982, and to current beneficiaries whose spouses retired prior to October 1, 1982, a sum of one hundred dollars ($100.00) per month in addition to other benefits they are now entitled to receive hereunder. Section 2. This ordinance shall not be construed so as to relieve any person, firm or corporation from any penalty heretofore incurred by the violation of Section 25-21, nor bar the prosecution for any such violation. Section 3. Any person, firm or corporation violating any of the provisions of this ordinance, shall, upon conviction thereof, be subject to the penalty provided in Chapter 1, Section 1-8 of the Municipal Code of the f City of University City. Section 4. This ordinance shall take effect and be in force from and after November 1, 1986. 4 PASSED this 6th day of October , 1986. MAYOR ATTEST: CITY CLERK CERTIFIED TO BE CORRECT AS TO FORM: ti CITY RNEY 4 s i