5404

COUNTY LOCAL LAWS

5	50%
6	60%
7	70%
8	80%
9	90%
10 or more	100%

c. the amount of annual pension will be
computed as follows:

two percent of the member's average final earnings
multiplied by the number of years of credited service,
multiplied by the percentage of vested ownership.

(3)   If a terminated vested member dies before
the first day of the month following normal retirement
date, the designated beneficiary will receive a single
lump sum death benefit payment equal to the member's
contributions with credited interest. If a terminated
vested member who has reached normal retirement date dies
after qualifying to receive vested retirement benefits,
the designated beneficiary shall be entitled to receive
whatever benefits may be provided under the pension
payment option elected.

(4)   Notwithstanding this formula, an elected
or appointed official who has completed five years in
office, will vest one hundred percent if the members
service terminates before normal retirement date with a
minimum monthly benefit of one hundred fifty dollars.

(5)   A member, enrolled prior to January 22,
1974, who transfers service credits from another
retirement system must complete three years of membership
before becoming qualified to vest. A member, enrolled on
or after January 22, 1974, who transfers service credits
from another retirement system must complete five years
of membership before becoming qualified to vest.

(c) Discontinued service pension.
Notwithstanding anything to the contrary in this
Article, should any member, regardless of age, who has
completed ten or more years of continuous service in a
full—time position vacate the position by reason of its
abolishment or should the member's employment, tenure or
status be terminated by administrative action or
adversely affected by an act of the County Executive, the
Chief Administrative Officer, the County Attorney, the
Administrative Hearing Examiner, the head of a principal