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I
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RESOLUTION
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(d) Service retirement allowance - In general. Except as provided in subsection (e) of this
section, on retirement, a member shall receive a service retirement allowance equal to 3% of the
salary payable to a current legislator in the General Assembly multiplied times the number of
years of creditable service of the member, but in no event shall the retirement allowance exceed
70% of the salary payable to a current legislator in the General Assembly.
(e) Same - Eligible presiding officer. If the member served as an eligible presiding
officer, the Board of Trustees shall use the salary payable to the current presiding officer to
calculate the member's retirement allowance, but in no event shall the retirement allowance
exceed 70% of the salary payable to a current presiding officer in the General Assembly.
8. Service retirement allowance - Service before January 1, 1971.
(a) Application of section. This section applies only to a member who has creditable
service before January 1, 1971.
(b) Eligibility for retirement. Except as provided in subsection (c) of this section, a
member may retire if on or before the date of retirement, the member:
(1) Is not currently serving in the General Assembly;
(2) Has at least 8 years of creditable service; and
(3) Has attained:
(i) Age 62 if the member elects to receive a service retirement under
subsection (d) of this section; or
(ii) Age 55 if the member elects to receive a retirement allowance under
subsection (e) of this section; and
(4) Completes and submits an application for retirement to the Board of Trustees
stating the date on which the member desires to retire.
(c) Exception for member who joins the Judges' Retirement System. A member who
resigns from the General Assembly prior to the expiration of the member's term of office to
accept a position requiring membership in the Judges' Retirement System is entitled to a
retirement allowance under this Item 3A regardless of years of service.
(d) Service retirement allowance - In general. Except as provided in subsection (e) of this
section, on retirement, a member shall receive a retirement allowance computed as set forth in §
7(d) of this Item 3A for all years of creditable service.
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4963
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