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FFFp <br /> F. As of the date benefits become payable under this Section on account of <br /> retirement, termination of employment or death to, or with respect to, an <br /> employee for whom an investment account is established under Section <br /> 2.62.630.A, such benefits shall be reduced, but not below zero, by the <br /> actuarially equivalent annuitized value of the employee's offset amount <br /> determined under subsection G of this section. Such reduction shall be in <br /> addition to any other reduction provided under this chapter. <br /> G. For purposes of subsection F of this section, the employee's offset amount <br /> shall be equal to the sum of: <br /> 1. The amounts credited to the employee's investment account under <br /> Section 2.62.630.B.1 and 2.62.630.C; provided, however, that the <br /> interest credited under Section 2.62.630.B.1 and, if applicable, <br /> subsection I, shall be determined using an interest rate of seven <br /> percent compounded annually; <br /> 2. All amounts that would have been contributed by the employee <br /> under Section 2.62.300 after April 30, 2001 if such contributions <br /> were determined on the basis of the base salary; and <br /> 3. Interest on each such amount determined under Sections <br /> 2.62.630.B.1 and 2.62.630.B.2 of this section from the date it was, <br /> or would have been, credited to the employee's investment account <br /> through the date benefits become payable under this Section at the <br /> rate of seven percent compounded annually. <br /> The amount determined under subsections G.1, G.2 and G.3 of this section <br /> shall then be converted to the actuarially equivalent life annuity or other <br /> periodic benefit payable under this Section. The determination will be <br /> made at the earlier of (1) the date in subsection F of this section that <br /> benefits become payable, or (2) the date the employee completes thirty (30) <br /> years of service in either the fire department or the police department, or a <br /> combination of service in both departments. <br /> H. If any distribution from an employee's investment account under Section <br /> 2.62.407.A which is made or commences prior to the date as of which <br /> benefits become payable under this Section, such distribution shall not <br /> affect the determination of the offset amount under this section. <br /> 2.62.407 Distribution of Investment Account <br /> A. In addition to benefits payable under Section 2.62.405, if any, a former <br /> employee may apply for a distribution from his or her investment account <br /> at any time. Such distribution shall be made or commence as of the <br />