§88-282 Service retirement allowance.
120 words·~1 min read·
/hi/chapter-88/88-282A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§88-282 Service retirement allowance. Upon retirement from service, a member shall receive a retirement allowance as follows:
(1)If the member has met the requirements in section 88-281(a), (b), (d), or (e), a maximum retirement allowance of one and one-fourth per cent of the average final compensation multiplied by the number of years of credited service; or
(2)If the member has met the requirements in section 88-281(c), an early retirement allowance equal to the maximum retirement allowance reduced by one-half per cent for each month the member is less than age sixty-two at retirement. [L 1984, c 108, pt of §8; am L 1987, c 117, §5; am L 2001, c 101, §2; am L 2005, c 58, §19]