MARVIN MANDEL, Governor

723

53.

(15) Anything in this article to the contrary
notwithstanding, any member whose service is terminated
other than by death or retirement after he has rendered
fifteen or more years of creditable service may elect to
receive a vested retirement allowance in lien of the
return of his accumulated contributions. The vested
retirement allowance shall be a deferred allowance
commencing at age fifty and shall [consist of:] BE
COMPUTED AS ONE FORTY-FIFTH OF HIS AVERAGE FINAL
COMPENSATION FOR EACH OF THE FIRST TWENTY-FIVE YEARS OF
CREDITABLE SERVICE, AND ONE NINETIETH OF HIS AVERAGE
FINAL COMPENSATION FOR EACH YEAR AFTER THE FIRST
TWENTY-FIVE YEARS OF CREDITABLE SERVICE.

[(a) An annuity which shall be the actuarial
equivalent of the member's accumulated contributions at
age fifty; and

(b) A pension computed as provided     under Section

53(2) of this article on the basis of  his creditable

service and average final compensation at    the time his
service is terminated.]

Should the member who has elected a vested

retirement allowance request the return of his

contributions or die prior to the date when the first
payment of his retirement allowance becomes normally due,

the amount of his accumulated contributions shall be

returned and no further benefit shall be due or become
payable on account of his previous membership.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 1, 1975.

CHAPTER 68
(Senate Bill 12)

AN ACT concerning

Pensions — Municipal Corporations

FOR the purpose of making the Health Planning Council of
Appalachia a municipal corporation.