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Statutes Text

Article - State Personnel and Pensions


    (a)    A member may retire with a normal service retirement allowance if:

        (1)    on or before the date of retirement, the member:

            (i)    has at least 30 years of eligibility service; or

            (ii)    is at least 60 years old; and

        (2)    the member completes and submits a written application to the Board of Trustees stating the date when the member desires to retire.

    (b)    On retirement under this section, a member is entitled to receive a normal service retirement allowance that equals one fifty-fifth of the member's average final compensation multiplied by the number of years of creditable service.