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29 69 30 or more 70 L. Upon the death of a former employee who is eligible for benefits under Section 2.62.080(D) 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; M. 1. ~It~ere shall be paid to current retirees, except those receiving benefits under Section 2.62.080(D), within the classifications scheduled below, and to current beneficiaries whose spouses retired within these classifications, the additional amounts scheduled; said amounts are in addition to any other benefits they are now entitled to receive: Classification Additional Benefit Per Month Retired prior to Oct. 1, 1982 Retired after Oct. 1, 1982 but prior to Jan. 1, 1987 $125.00 25.00 2. Provide to all retirees and beneficiaries, other than children, who retired prior to January 1, 1992, who are presently receiving benefits, and who terminated employment after eligibility for retirement, a monthly benefit increase of twenty-five dollars ($25.00) effective December, 1992. The minimum monthly payment for these retirees and beneficiaries is three hundred twenty-five dollars ($325.00), 3. Provide to all retirees and beneficiaries, other than children, who retired prior to January 1, 1997, who are presently receiving benefits or will be receiving benefits prior to January 1, 1997, and who terminated employment after eligibility for retirement, a monthly benefit increase of twenty-five dollars ($25.00) effective January 1, 1997; N. In no event shall the benefits payable under this plan exceed the limitations of the Internal Revenue Code, Section 415; O. The payment of any benefits shall commence by April 1 st of the calendar year, following the calendar year when the employee attains the age of seventy and one-half (70.5); P. No retiree or surviving spouse shall be entitled to a new benefit of less than three hundred twenty-five dollars ($325.00) a month. This subsection shall not apply to a retiree who terminated prior to eligibility for retirement nor to a surviving spouse of a member who terminated prior to eligibility for retirement; Q. There ~hall be paid upon the retirement application approval after July 1, 1990, of an employee retired under Section 2.62.080(A), (B), (C) or (E), or upon the death of an active employee under Sections 2.62.080 or 2.62.100, a refund of sixty (60) percent of the accumulated employee contributions without interest as of July 1, 1990. The refund will not apply to employee contributions made after July 1, 1990. In addition, there shall be paid to any current retiree or beneficiary as of July 1, 1990, except those receiving benefits under Section 2.62.080(D), a refund of sixty (60) percent of the accumulated employee contributions without interest as of the date of termination. In the event that there is a refund of contributions with interest under Section 2.62.190, then there shall be no benefits payable under this subsection. -4-