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Fort Walton Beach Council agenda — 02-08-11 regular — reading text
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fvfember retires; -or
defined - an
a)
Shall be paid over the He of the Membet or o ver the lifetimes ...
of the Member and me or
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Shall be paid o v -" I Lilt. pkmod extending no t beyo-nd the He 0
expectancy Of 11, 11C,
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3) Where a form- of retirement income payment has conm== a
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accordance with the Vaphs and the Membel UL
befbre his entire interest in the pension plait has been disttibtited " a
67ortion of such intemst in the- pension pfan. a)
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effect at the time of the ' o
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ff the Member' s death occurs befbre the distribution of his T
plan has com-mencedl the Members entire interest in fl; pension plan shaj!JIL 1"
distribated within five (5) years of the 1
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stie or dependent; T
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iterest is to be distributed over the life of the spouse, isme v
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sue or dependent; -,md 00
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r dependent shall receive the remamnig interest, r
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in vvhich case the disiribution need not begin bef6re the date on which-d d
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Nfembez mould have attained age seventy mid one- half (70 i), and if th
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se issue or
dependent begins,
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dependmit were the Member:
SECTION 2$ 7. DEFERRED RETIREMENT OPTION PLAN.
1. Definitions.
As used in this Section 2$ 7, the following definitions apply:"
A. " DROP" --
The Fort Walton Beach Firefighters' Pension Trust Fund Deferred