ยง88-160 - Service retirement benefits.
ยง88-160ย Service retirement benefits.ย (a)ย Any member of the police force, fire department, or band who has been inthe service of any county as a member of the police force, fire department, orband for twenty years and less than twenty-five years, upon the member'swritten application to the board of trustees to be retired, shall be retiredfrom the police force, fire department, or band, and the member shallthereafter receive from the pension system a monthly payment equal to forty percent of the average monthly compensation for the five years of the member'sservice, as hereinafter defined, immediately preceding the date of the member'sretirement.
(b)ย Any member of the police force, firedepartment, or band who has been in the service of the county as a member ofthe police force, fire department, or band for twenty-five years, upon themember's written application to the board to be retired, shall be retired fromthe police force, fire department, or band and the member shall thereafterreceive from the pension system a monthly payment equal to fifty per cent ofthe average monthly compensation for the five years of the member's service, ashereinafter defined, immediately preceding the date of the member's retirement.
(c)ย Any member of the police force, firedepartment, or band who has been in the service of the county as a member ofthe police force, fire department or band for more than twenty-five years, uponthe member's written application to the board to be retired, shall be retiredfrom the police force, fire department, or band and the member shall thereafterreceive from the pension system a monthly payment equal to fifty per cent ofthe average monthly compensation for the five years of the member's service, ashereinafter defined, immediately preceding the date of the member's retirement,plus two per cent for each year in excess of twenty-five years, but not inexcess of eighty per cent. [L 1917, c 220, pt of ยง3; RL 1925, pt of ยง2163; am L1933, c 46, pt of ยง1; RL 1935, pt of ยง7905; RL 1945, pt of ยง6173; am L 1953, c149, ยง1; RL 1955, ยง6-140; am L 1963, c 65, ยง2b; am L 1967, c 131, ยง1; HRSยง88-160; gen ch 1985]