GENERAL ASSEMBLY COMPENSATION COMMISSION

(d) Purchase of credit if less than 8 years of creditable service.

A member may purchase service credit in the Legislative Pension Plan so that the
amount of the creditable service of the member aggregates not more than 8 years if the
member:

(1)     Has less than 8 years of creditable service in the Legislative Pension
Plan; and

(2)     Pays to the Board of Trustees an amount equal to the sum of:

(i) 5% of the annual salary payable to a legislator during the years of
service to be purchased; and

(ii) The contributions payable by the State with respect to the salary of
a legislator during the years of service to be purchased.

7. Service retirement allowance - No service prior to January 1, 1971.

(a)     Application of section. This section applies only to a member who has no
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;

(3)     Has attained age 60; 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 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 two-thirds 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 two-thirds of the salary payable to a current presiding
officer in the General Assembly.

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