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(a) Any clerk of a city court established in any county, appointed by the judges thereof, may be entitled to the benefits prescribed in this section for such clerks.
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(b)
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(1) Any clerk of a city court to which this section applies, appointed by the judges of the court, who shall attain age sixty (60) and who shall have served in office as clerk for at least ten (10) years, or who shall have served in office for at least twenty (20) years, irrespective of age, may be eligible to receive retirement benefits provided by this section.
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(2) If the clerk resigns, retires from office, or is succeeded in office by another clerk, the clerk shall receive retirement benefits for and during the remainder of his or her natural life in an amount equal to one-half (½) of the salary payable to him or her at the time of resignation, retirement, or succession in office.
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(c) Upon the approval of the governing body of the city and following a determination of the actuarial soundness of the fund from which the benefits shall be paid, any court clerk of a city court who upon reaching age sixty-eight (68) will have served for a minimum of seven (7) years immediately prior to severance from employment may retire with a reduced benefit in an amount equal to seven-tenths (7/10) of the benefit payable under this section.
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(d) The city council or board of directors of each city of the second class may elect by ordinance to establish the retirement system for city court clerks authorized by this section.
