Legislation
SECTION 1312
Benefit enhancements
Retirement & Social Security (RSS) CHAPTER 51-A, ARTICLE 24
§ 1312. Benefit enhancements. Notwithstanding any other law to the
contrary, eligible employees shall be permitted to retire, without
penalty, upon reaching age fifty-seven and completing at least thirty
years of credited service. Employees retiring pursuant to this section
shall receive a pension allowance equal to the sum of thirty-five per
centum and one-fiftieth of final average salary for each year of service
in excess of twenty times final average salary times years of credited
service.
contrary, eligible employees shall be permitted to retire, without
penalty, upon reaching age fifty-seven and completing at least thirty
years of credited service. Employees retiring pursuant to this section
shall receive a pension allowance equal to the sum of thirty-five per
centum and one-fiftieth of final average salary for each year of service
in excess of twenty times final average salary times years of credited
service.