Deferred retirement.
Memphis Code of Ordinances § 4-28-13
in effectSec. 4-28-13. - Deferred retirement.
A. Any participant meeting the requirements of subsection D of this section may elect to receive a deferred retirement benefit under this 1978 plan equal to his or her accrued benefit and payable in the form of a single life annuity.
B. The annuity commencement date of any participant hired on or after July 1, 2012, who is to receive his benefit pursuant to subsection 4-28-13(A) shall be the date he reaches age 62.
C. A participant may revoke his or her election under subsection A of this section at any time before his or her annuity commencement date. Any participant timely revoking his or her subsection A of this section election shall receive a refund in accordance with section 4-28-14 of all employee contributions made by him or her or on his or her behalf under this 1978 plan.
D. To be eligible for electing a deferred retirement benefit under this section,:
1. General employees.
a. Must be credited with five or more years of service as of his/her severance date;
b. Must not be entitled to any benefits under any other section of this chapter; and
c. Must not have engaged in an act determined harmful to the city by the board and resulting in the participant's conviction of a felony, illegal manipulation of the books and records of the city, theft, or embezzlement of assets.
d. 2. Police officers and firefighters: Must be credited with ten or more years of service as of his/her severance date;
e. Must not be entitled to any benefits under any other section of this chapter; and
f. Must not have engaged in an act determined harmful to the city by the board and resulting in the participant's conviction of a felony, illegal manipulation of the books and records of the city, theft, or embezzlement of assets.
(Code 1985, § 25-183; Ord. No. 3907, § 1, 12-5-1989; Ord. No. 4837, § 1, 1-22-2001; Ord. No. 5416, § 2, 12-6-2011; Ord. No. 5873, § 10, 7-11-2023)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/code_of_ordinances?nodeId=TIT4PERESY_CH4-281978BEPL_ART3REBE_S4-28-13DEREFetched: 10/28/2026