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Session Laws, 1949
Volume 590, Page 626   View pdf image (33K)
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the ten consecutive years of service as a teacher during
which his earnable compensation was highest, or if he had
less than ten years of service, then his average earnable
compensation for his total service.

98. (Creditable Service. )

(2) The Board of Trustees shall fix and determine
by appropriate rules and regulations how much service in
any year is equivalent to one year of service, but except
as otherwise provided, in no case shall more than one year
of service be creditable for all service in one calendar year.
The Board of Trustees, under such rules and regulations
as it shall adopt, shall allow credit, however, to members
absent in the military service during World War I for the
period of their absence, provided that such members were
teachers when they entered such military service and
within one year from the date of their discharge again
became teachers. Service rendered for the regular school
year in any district shall be equivalent to one year's

99. (Benefits. )

Service Retirement Benefit

(1) (a) Any member in service may retire upon writ-
ten application to the Board of Trustees setting forth at
what time, not less than thirty days nor more than ninety
days subsequent to the execution and filing thereof, he
desires to be retired, provided that the said member at
the time so specified for his retirement shall have attained
the age of sixty (60) or shall have rendered thirty (30)
years of creditable service as a teacher and notwithstand-
ing that, during such period of notification, he may have
separated from service.

Allowance for Service Retirement

(2) Upon retirement for service a member shall receive
a service retirement allowance which shall consist of:

(a) An annuity which shall be the actuarial equivalent
of his accumulated contributions at the time of retire-
ment; and

(b) A pension in addition to his annuity which shall
be equal to one one-hundred and fortieth of his average
final compensation multiplied by the number of years of
his service since he last became a member; and

(c) If he has a prior service certificate in full force
and effect, an additional pension which shall be equal to


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Session Laws, 1949
Volume 590, Page 626   View pdf image (33K)
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