19-7-501. Eligibility for service retirement.
158 words·~1 min read·
/mt/title-19/chapter-7/part-5/19-7-501·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
19-7-501 . Eligibility for service retirement.
(a)Subject to a member's right to a refund of the member's accumulated contributions under Title 19, chapter 2, part 6, a member hired on or before June 30, 2023, who has completed at least 20 years of membership service is eligible for a nonforfeitable service retirement benefit under 19-7-503 .
(b)Subject to a member's right to a refund of the member's accumulated contributions under Title 19, chapter 2, part 6, a member hired on or after July 1, 2023, who has completed at least 20 years of membership service and reached 50 years of age is eligible for a nonforfeitable service retirement benefit under 19-7-503 .
(2)For purposes of compliance with section 411 of the Internal Revenue Code, 26 U.S.C. 411, a vested member described in subsection (1)(a) or (1)(b) is treated as having attained normal retirement age and has a nonforfeitable right to the member's service retirement.