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the calendar year when the employee attains the age of seventy and one-half (70.5); <br /> <br />No retiree or surviving spouse shall be entitled to a new benefit of less than three hundred <br />twenty-five dollars ($325.00) a month. This subsection shall not apply to a retiree who <br />terminated prior to eligibility for retirement nor to a surviving spouse of a member who <br />terminated prior to eligibility for retirement; <br /> <br />There shall be paid upon the retirement application approval after July 1, 1990, of an <br />employee retired under Section 2.62.080(A) or (C) or upon the death of an active employee <br />under Sections 2.62.090 or 2.62. 100, a refund of sixty (60) percent of the accumulated <br />employee contributions without interest as of July 1, 1990. The refund will not apply to <br />employee contributions made after July 1, 1990. <br /> <br />In addition, there shall be paid to any current retiree or beneficiary as of July 1, 1990, except <br />those receiving benefits under Section 2.62.080(B), a refund of sixty (60) percent of the <br />accumulated employee contributions without interest as of the date of termination. In the <br />event that there is a refund of contributions with interest under Section 2.62.190, then there <br />shall be no benefits payable under this subsection. <br /> <br /> Section 2. This ordinance shall take effect and be in force from and after its passage <br />as provided by la~v. <br /> <br /> PASSED /q day of ,2000. <br /> CI ("" OR ,,L~0 <br /> - ,. <br /> <br /> CITY CLERK <br /> <br />-7- <br /> <br /> <br />