1. (1) In calculating the retirement pension for a member who has service credit in the social security component, the benefit is the sum of the following:

   1. (a) One percent multiplied by the years of service credit in the social security component, not to exceed ten years of service credit, multiplied by the average of the member's highest three years' base salary in the social security component; plus
   2. (b) One and one-quarter percent multiplied by the years of service credit in the social security component in excess of ten years multiplied by the average of the member's highest three years' base salary in the social security component.

Source: Entire article added, (HB 22-1034), ch. 61, p. 291, § 1, effective August 10.