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Interest on each such amount determined under subsections B(1) and (2) from the <br />date it was, or would have been, credited to the employee's Investment Account <br />through the date benefits become payable under Section 2.62.150 at the rate of <br />seven percent compounded annually. <br /> <br />The amount determined under subsections B(1), (2) and (3) shall then be converted to the <br />actuarially equivalent life annuity or other periodic benefit payable under Section <br />2.62.150 using an interest rate of seven percent and the 1983 Group Annuity Mortality <br />Table. The determination will be made at the earlier of (1) the date in Section <br />2.62.151(A) that benefits become payable, or (2) the date the employee completes 30 <br />(thirty) years of service in either the fire department or the police department, or a <br />combination of service in both departments. <br /> <br />Co <br /> <br />If any distribution from an employee's Investment Account under Section 2.62.152(A) <br />which is made or commences prior to the date as of which benefits become payable under <br />Section 2.62.150, such distribution shall not affect the determination of the offset amount <br />under this Section 2.62.151. <br /> <br /> Section 2. This ordinance shall take effect and be in force from and after its passage as <br /> provided by law. <br /> PASSED ' ~'~ dayofa __Gl~,~,,'x/ ,2002. <br /> <br />(~ CITY CLE~ ~ ~ <br /> <br />CERTIFJF_/~ TO BE CO. RRECT AS TO FORM: <br /> (JCITY ATTORNEY <br /> <br />1242538.05 2 <br /> <br /> <br />