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Defined benefit membership in the Association, B. Attain the age of 50 years, C. Terminate membership from the Ramsey Fire Department, and D. Make written application to the Board for payment of the benefit. Payment will be made no later than 90 days following date of application. SECTION 5. DEATH BENEFITS. Upon the death of any member of the association, who is in good standing at the time of his/her death, the association shall pay to his/her beneficiary and if no beneficiary has been named, then such payment would go to his/her surviving spouse, child, or children or estate respectively, the sum of $1,100.00 for each year that he/she served as an active member of the Ramsey Volunteer Fire Department. SECTION 6. SERVICE PENSIONS. The association shall pay to each member, who shall have served as an active fire fighter in the Ramsey Volunteer Fire Department for a period of not less than 10 years or more prior to his/her resignation from said department, who has reached the age of 50 years or more, and who has also been a member of the association for a period of not less than 10 years the amount of $1,100.00 per year of service. SECTION 7. DEFERRED SERVICE PENSIONS. A member of the association who shall have served in the Ramsey Volunteer Fire Department for at least 10 years, but has not reached the age of 50 years, may retire from said fire department and be placed on the deferred pension roll. When he/she reaches the age of 50 years, and provided that at the time he/she has been a member of the association for at least 10 years, upon application therefore he/she shall be paid a sum of $1,100.00 per year of service. During the time that a member is on the deferred pension roll, he/she shall continue to pay dues, and he/she will not be eligible to receive any of the benefits provided for in Article VII. During the time that a member is on the deferred pension roll, the association shale add to the amount payable to such RELIEF ASSN. BY-LAWS Page 9