19-20-801. Eligibility for service retirement.
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/mt/title-19/chapter-20/part-8/19-20-801·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
19-20-801 . Eligibility for service retirement.
(1)A tier one member is eligible to receive a service retirement allowance calculated under 19-20-804
(1)if the member:
(a)has been credited with at least 5 full years of creditable service and has attained the age of 60; or
(b)has been credited with full-time or part-time creditable service in 25 or more years.
(2)Except as provided in subsection (3), a tier two member is eligible to receive a service retirement allowance calculated under 19-20-804
(1)if the member:
(a)has been credited with at least 5 full years of creditable service and has attained the age of 60; or
(b)has been credited with full-time or part-time creditable service in 30 or more years and has attained the age of 55.
(3)A tier two member who has been credited with 30 or more years of creditable service and has attained the age of 60 is eligible for a professional retirement option allowance calculated under 19-20-804 (2).
(4)To receive a retirement allowance under 19-20-804 , the member must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.
(5)A vested member who has attained normal retirement age has a nonforfeitable right to the benefits accrued and payable under the provisions of this chapter, subject to the member's right to a refund of the member's accumulated contributions under 19-20-603 .