B. For a member who becomes a member of the plan before January 1, 2012, the monthly pension shall be equal to one-twelfth of the following amount:

1. 1. Four percent of the member's average yearly salary multiplied by the member's credited service, not to exceed eighty percent of the member's average yearly salary. This amount shall be reduced if the member takes early retirement pursuant to section 38-805, subsection C. The amount of reduction is three-twelfths of one percent for each month the retired member's early retirement age precedes the member's normal retirement age pursuant to section 38-805, subsection A, except that the reduction shall not be more than thirty percent.
2. 2. A member who meets the requirements for a disability retirement pension shall receive a disability pension equal to four percent of the member's average yearly salary multiplied by twenty years of credited service if the member has ten or more years of credited service, four percent of the member's average yearly salary multiplied by ten years of credited service if the member has five or more years of credited service but fewer than ten years of credited service or four percent of the member's average yearly salary multiplied by five years of credited service if the member has fewer than five years of credited service.

C. The monthly pension of a member who becomes a member of the plan on or after January 1, 2012 shall be equal to one-twelfth of the following amount:

1. 1. Three percent of the member's average yearly salary multiplied by the member's credited service, not to exceed seventy-five percent of the member's average yearly salary.
2. 2. A member who meets the requirements for a disability retirement pension shall receive a disability pension equal to three percent of the member's average yearly salary multiplied by twenty-five years of credited service if the member has ten or more years of credited service, three percent of the member's average yearly salary multiplied by twelve and one-half years of credited service if the member has five or more years of credited service but fewer than ten years of credited service or three percent of the member's average yearly salary multiplied by 6.25 years of credited service if the member has fewer than five years of credited service.

D. The plan shall make payments pursuant to section 401(a)(9) of the internal revenue code and the regulations that are issued under that section. Notwithstanding any other provision of this plan, beginning January 1, 1987, payment of benefits to a member shall commence not later than April 1 of the calendar year following the later of:

1. 1. The calendar year in which the member attains seventy-two years of age.
2. 2. The date the member terminates employment.