|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resolution
|
|
|
|
|
|
|
|
|
|
(i) The benefit payable with respect to the member's creditable service prior
to January 1, 1971, computed at the rates and otherwise in accordance with the statutory pension
plan, commencing at the time provided in the statutory pension plan and based on the member's
highest annual earnable compensation as a member of the General Assembly prior to January 1,
1971; and
(ii) The benefit payable with respect to the member's creditable service after
January 1, 1971, computed as set forth in § 7(d) of this Item 3A and commencing at age 60.
(3) A member may elect to receive a service retirement allowance computed with
respect to all of the member's creditable service, computed at the rates and otherwise in accordance
with the statutory pension plan, commencing at the time provided in the statutory pension plan and
based upon the member's highest annual earnable compensation as a member of the General
Assembly prior to January 1, 1971.
(4) (i) Unless the member served as an eligible presiding officer, the service
retirement allowance payable under paragraph (2) of this subsection may not exceed two-thirds of
the salary payable to a current legislator in the General Assembly. If the member served as an eligible
presiding officer, the service retirement allowance may not exceed two-thirds of the salary currently
payable to a presiding officer.
(ii) A member may receive the service retirement allowance payable under
paragraph (3) of this subsection if the member files a written notice of the election with the Board
of Trustees.
9. Reduced service retirement allowance.
(a) Eligibility for retirement. A member may retire with a reduced service retirement
allowance if the member:
(1) Is not currently serving in the General Assembly;
(2) Has at least 8 years of creditable service;
(3) Is at least 50 years of age but not more than 60 years of age; and
(4) Completes and submits an application for retirement to the Board of Trustees
(i) Stating the date on which the member desires to retire; and
(ii) Electing to receive a reduced service retirement allowance instead of service retirement allowance payable under
§ 7 or § 8 of this Item 3A.
|
|
|
|
|
|
|
|
|
|
6080
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
