2468                               Municipal Charters

(a)    the participant's contributions together with credited interest
to the participant's date of death; and

(b)    an amount equal to fifty percent (50%) of the participant's
final earnings, provided the participant has one (1) year or more of
credited service.

Section 1-231.

Upon the death of a participant after his date of retirement or his
normal retirement date in the case of a participant who is determined to
be totally and permanently disabled in accordance with Section 1-222 (a)
or (b) or, if the contingent annuitant option is in effect, upon the death
of the survivor or the participant and his contingent annuitant, his
beneficiary will receive a death benefit if the amount of payments made
under this plan to such participant and his contingent annuitant do not
equal the amount of his contributions together with credited interest to
his date of retirement or disability, as the case may be. Any excess
contributions with credited interest shall be paid in a lump sum to the
payee last entitled to benefits under this plan or the estate of such payee.

Section 1-232.

(a)    If any benefits to a beneficiary may become payable in respect
to a participant's coverage, the participant will designate a beneficiary
and may change from time to time his designation of beneficiary by filing
with the Personnel Officer written notice thereof on a form satisfactory
to the Personnel Officer. Such designation or change of designation of
beneficiary shall take effect as of the date of execution of such notice
thereof whether or not the participant be living at the time of such filing
but without prejudice to this plan on account of any payments made
under this plan before receipt of such notice by the Personnel Officer.

(b)    In case of death any benefits hereunder payable to a beneficiary
will be paid to the payee most recently designated by the participant as
beneficiary provided the name of the beneficiary has been filed with the
Personnel Officer. If no name has been filed or if the named beneficiary
does not survive the participant, the benefits which would have otherwise
been paid to the named beneficiary shall, at the option of the Personnel
Officer, be paid to one of the following: The participant's widow or
widower, surviving children in equal shares, or the executor or adminis-
trator of the participant. Payment made to any person set out in this
paragraph will release the pension fund from all further liability to the
extent of such payment.

Section 1-233.

(a) The benefits to be provided under this plan to employees other
than retired employees, shall be funded under a Group Annuity Contract
issued by the insurance company. The assets under said insurance contract
shall be herein referred to as the pension fund and all contributions made
hereunder shall be paid to the pension fund. Each participant covered
under the plan shall contribute through payroll deductions an amount
equal to five and one-half percent (5½%) of his basic compensation re-
ceived during each calendar year or portion thereof while covered here-
under; provided a participant shall make no contributions in any calendar
year after the calendar year in which he completes the number of years
service required to qualify for the maximum pension benefit as described
in Section 1-221 (a).