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(a)
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(1) Any contributory member who has acquired twenty (20) or more years of credited service or any contributory member who has attained age fifty (50) and has acquired five (5) or more years of actual service may voluntarily retire upon written application filed with the Board of Trustees of the State Police Retirement System.
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(2) This application shall set forth at what time, not less than thirty (30) days nor more than ninety (90) days subsequent to the execution and filing thereof, he or she desires to be retired.
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(b) Upon his or her retirement, he or she shall receive a pension provided for in § 24-6-214.