Refund of employee contributions.

Memphis Code of Ordinances § 4-28-14

in effect

Sec. 4-28-14. - Refund of employee contributions. A. Any participant whose employment with the city terminates, for any reason other than death, who is not entitled to any benefits under section 4-28-10, section 4-28-11, or section 4-28-12, and who has not elected benefits under section, shall receive an amount equal to the product of his or her total employee contributions times the applicable return multiple as determined under the table in section 4-4-1 paid as soon as administratively feasible following the date the termination of his or her employment occurs (or which is deemed to have occurred under subsection C of this section) unless he or she earlier withdraws the employee contributions, becomes entitled to receive benefits under section 4-28-10, section 4-28-11, or section 4-28-12, or elects benefits under section 4-28-13. B. Any participant whose employment with the city terminates for any reason other than death but who is entitled to a benefit payable under section 4-28-10, section 4-28-11, or section 4-28-12, and who has not elected benefits under section 4-28-13, may elect to receive in lieu of any other benefit payable under any other section of this plan an amount equal to the product of his or her total employee contributions times the applicable return multiple as determined under the table in section 4-4-1 paid as soon as administratively feasible following the date the termination of his or her employment occurs or is deemed to have occurred under subsection C of this section unless he or she earlier withdraws the employee contributions, becomes entitled to receive benefits under section 4-28-10, section 4-28-11, or section 4-28-12, or elects benefits under section 4-28-13. In the event that any participant elects to withdraw his or her participant contributions as provided in this section 4-28-14(B), such participant shall be deemed to have waived his or her rights to any other benefit payments under any provision of this retirement system, including the right to payment of any survivor benefits otherwise payable in the event of the participant's death in accordance with section 4-28-16 or 4-28-17 or otherwise under the pension system. C. A participant during a leave of absence period shall be deemed to have terminated employment with the city if during such period he or she: 1. Retires under this 1978 plan; 2. Withdraws his or her employee contributions; or 3. Actually terminates employment with the city, or does not return to active employment with the city as of the earlier of the date two years from the beginning of such leave of absence period or the end of such period. (Code 1985, § 25-184; Ord. No. 3907, § 1, 12-5-1989; Ord. No. 5763, § 1(25-184), 12-15-2020)

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_S4-28-14REEMCOFetched: 10/28/2026