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Session Laws, 1972
Volume 708, Page 2614   View pdf image
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2614                            County Local Laws

number of years of his creditable service [since he last became a
member; and]

If, at retirement, said member has been an appointed depart-
ment head for at least two years he shall receive, in lieu of the service
allowance set forth above, a service retirement allowance which shall
consist of:

(1)  An annuity which shall be the actuarial equivalent of his ac-
cumulated contributions at the time of retirement;

(2)  A pension which, together with his annuity, shall provide a
total allowance equal to one-fortieth of his average final compensation
multiplied by the number of years of his creditable service.

[(3) If he has a prior service certificate in full force and effect
an additional pension which shall be equal to one-sixtieth of his average
final compensation multiplied by the number of years of service certi-
fied on his prior service certificate; and]

[(4) If he has credit for membership service rendered prior to
January 1, 1961, an additional pension equal to the difference be-
tween one one-hundred-twentieth and one one-hundred-fortieth of
average final compensation multiplied by the number of years of such
service.]

(b) Upon retirement for service after attaining age sixty, a
Group 1, Group 2 or Group 3 member who was a member on December
31, 1960, and did not elect to make the increased contributions in ac-
cordance with section 20-55 of this Code shall receive a service retire-
ment allowance which shall consist of:

(1)  An annuity which shall be the actuarial equivalent of his ac-
cumulated contributions at the time of retirement;

(2)  A pension which, together with his annuity, shall provide a
total allowance equal to one-sixtieth
[be equal to one one-hundred-
thirtieth] of his average final compensation multiplied by the number
of years of his creditable service [since he last became a member;
and]

[(3) If he has a prior service certificate in full force and effect
an additional pension which shall be equal to one-sixty-fifth of his
average final compension multiplied by the number of years of serv-
ice certified on his prior service certificate; and]

[(4) An additional pension equal to the difference between one
one-hundred-thirtieth and one one-hundred-fortieth of average final
compensation multiplied by the number of years of membership serv-
ice prior to January 1, 1961.]

(d) Upon retirement for service before the attainment of his
normal service retirement age, a member shall receive an [annuity]
allowance which shall be [the actuarial equivalent of his] a service
retirement allowance
[accumulated contributions at the time of re-

 

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Session Laws, 1972
Volume 708, Page 2614   View pdf image
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