Viewing an earlier, undated versionView current - (1) A member of the system may retire upon written application to the board setting forth at what time, not more than ninety days before nor more than six months subsequent to the execution and filing of the application, he desires to be retired, if the member at the time specified for his retirement is no longer in the service of the State, whether as a member of the General Assembly or otherwise, except as provided in Section 9-9-40(3), and has either attained the age of sixty years or completed thirty years of credited service.
- (2) Effective July 1, 1989, a retired member shall receive a monthly retirement allowance which is equal to one-twelfth of four and eighty-two hundredths percent of earnable compensation multiplied by the number of years of his credited service prorated for periods less than a year.