§ 11-2. Discontinuance of payments; Plan termination.

(a) In general.

The Mayor and City Council reserves the right, at any time by ordinance, to permanently discontinue contributions to the Plan or to terminate the Plan.

(b) Effect of discontinuance or termination.

On the effective date of a permanent discontinuance of contributions or a Plan termination, and notwithstanding any other provision of this article:

(1) no person who is not already a member may become a member;

(2) no further contributions may be made to the Plan; and

(3) the Employer Contribution Sub-Account of any member that is not already 100% vested and non-forfeitable becomes 100% vested and non-forfeitable.

(c) Distribution of accounts.

As soon as administratively practicable after the effective date of a permanent discontinuance of contributions or a Plan termination, the value of each member's account must be paid to the member in a lump-sum cash payment.