19-20-801. Eligibility for service retirement. (1) A tier one member is eligible to receive a service retirement allowance calculated under 19-20-804(1) if the member: (a) has been credited with at least 5 full years of creditable service and has attained the age of 60; or (b) has been credited with full-time or part-time creditable service in 25 or […]
19-20-802. Early retirement. (1) (a) A vested tier one member who is not eligible for service retirement but has attained the age of 50 is eligible for an early retirement allowance. (b) A vested tier two member who is not eligible for service retirement but has attained the age of 55 is eligible for an early retirement allowance. […]
19-20-803 reserved.
19-20-804. Allowance for service retirement — professional retirement option allowance — creditable service limitation. (1) Upon termination, a tier one or tier two member who qualifies for benefits pursuant to 19-20-801(1) or (2) must receive a retirement allowance equal to one-sixtieth of the member’s average final compensation, as limited by 19-20-715, multiplied by the sum of […]
19-20-805. Calculation of average final compensation. (1) Except as limited by this section, average final compensation is calculated by averaging the earned compensation paid to: (a) a tier one member in 3 consecutive fiscal years of full-time service that yields the highest average; or (b) a tier two member in 5 consecutive fiscal years of full-time service that […]
19-20-806. Terminated. Sec. 6, Ch. 120, L. 2003. History: En. Sec. 1, Ch. 120, L. 2003; amd. Sec. 15, Ch. 320, L. 2005.
19-20-807 through 19-20-809 reserved.
19-20-810. Termination of employment — retired member status — certification of termination date. (1) A member shall terminate employment in all positions reportable to the retirement system to be eligible for service retirement under 19-20-801, early retirement under 19-20-802, disability retirement under 19-20-901, or withdrawal under 19-20-603. (2) Except as provided in subsections (3) and (4), a […]
