Effective 7/1/2020 49-14-401. Eligibility for service retirement — Date of retirement — Qualifications. (1) A member is qualified to receive an allowance from this system when: (a) except as provided under Subsection (3), the member ceases actual work for every participating employer that employs the member before the member’s retirement date and provides evidence of […]
49-14-402. Calculation of retirement allowance. (1) A retiree under this system shall receive an allowance equal to: (a) 2.5% of final average monthly salary multiplied by the number of years of service credit, limited to 20 years; plus (b) 2% of final average monthly salary, multiplied by the number of years of service credit in […]
49-14-403. Annual cost-of-living adjustment — Enhanced adjustment — Eligibility. (1) The office shall make an annual cost-of-living adjustment to: (a) an original allowance paid under Section 49-14-402 and Part 5, Death Benefit, of this chapter if the allowance has been paid for at least one year; and (b) an original payment made to an alternate […]
