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(a) Nonguarantee of employment. Nothing contained in this plan shall be construed as a contract of employment between the city and any employee or as a right of any employee to be continued in the employment of the City or as a limitation of the right of the City to discharge any of its employees at any time, with or without cause.

(b) Rights to trust assets. No participant shall have any right to or interest in any assets of the trust, except as provided under this plan, and then only to the extent of the benefits payable to such participant out of the assets of the trust. Neither the City, the custodian, the investment manager, nor any member of the board shall be liable to any participant or beneficiary for benefits from this plan, except for those payable from the trust in accordance with the terms of the plan.

(c) Nonalienation of benefits. No benefit under the plan, nor any other interest under the plan of any participant, spouse or beneficiary shall be assignable, transferable, or subject to sale, mortgage, pledge, hypothecation, commutation, anticipation, garnishment, attachment, execution, or levy of any kind, and the board shall not recognize any attempt to assign, transfer, sell, mortgage, pledge, hypothecate, commute, or anticipate such, except that the board shall recognize and comply with a properly executed domestic relations order under such terms and conditions as the board shall approve. The board's conditions for approval shall not allow lump sum payment to an alternate payee according to a qualified domestic relations order if the participant has not yet retired or terminated employment with the City. (Code 1979, § 15-56; Ord. No. 99-02, § 1, 1-25-1999)