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<br />CENTENNIAL FIRE DEPARTMENT RELIEF ASSOCIATION BYLAWS <br /> <br />Section 3. <br />If a member of the association shall have served in the <br />Centerville, Circle Pines, and Centennial Fire Department <br />for at least twenty years, but has not reached the age of <br />fifty years, he/she may retire from the Fire Department and <br />be placed on the deferred pension roll. When the member <br />reaches the age of fifty years, and provided that at that <br />time ,he/she has been a member of the Centerville, Circle <br />Pines, and Centennial Relief associations for a total of at <br />least five years, he/she shall be paid the sum of $1200.00 <br />for each year that they served as an active member of the <br />Centennial Fire Department. During the time that a member <br />is on the deferred pension roll, he/she shall continue to <br />pay dues, and they will not be eligible to receive any of <br />the benefits provided for in Article VII. <br /> <br />Section 4. <br />No less than one hundred eighty days before becoming <br />eligible to receive a lump sum pension, a member of this <br />association may make an irrevocable election that such <br />pension shall be paid to them in a maximum of four annual <br />ins~allments. If the member who has made such an election <br />dies before all of his/her pension has been paid, any amount <br />thereof remaining unpaid at the time of hjs/her death shall <br />be paid to his/her named beneficiary. Th6 association shall <br />add interest, compounded annually, at the rate actually <br />earned on the assets of the Special Fund, but not ~o exceed <br />five percent (5%) per year, to the unpaid amount of install- <br />ments owed to any member who has made an installment elec- <br />~ion, or ~o his/her survivors. <br /> <br />Section 5. <br />During the ~ime that a member is on either the deferred <br />pension roll or early-vested pension roll, the association <br />shall add to the amount payable to such member interes~, <br />compounded annually, at ~he rate actually earned on the <br />assets of the Special fund, but to to exceed five percent <br />(5%) per year. At such time as a member becomes eligible to <br />receive their pension, said member shall receive the benefit <br />payable at the ~ime he/she was placed on either ~he deferred <br />pension roll or the early-vested pension roll. <br /> <br />Sec~ion 6. <br />If a member shall have served for more than Ilve years, bu~ <br />less than twenty years, as an ac~ive member of the Cen~er- <br />ville, Circle Pines, and Centennial Fire Department, he/she <br />may re~ire from Centennial Fire department and be placed on <br />the early-vested pension roll. When he/she reach the age of <br />fif~y years, and provided that at that time he/she has been <br />a member of the Centerville, Circle Pines, and Centennial <br />Relief associations for at least five years, he/she, on <br />application therefore, will be paid for the time in the <br />Centennial Relief association in the following manner: <br /> <br />(a) Determination of accrued liability. <br /> <br />n.=if'fA 1lJ <br /> <br />~vn RRTTRF A~snrTATTnN <br /> <br />.1::;r",,,rv ')n 1 QP,Q <br />