§88-282  Service retirement allowance.  [2005amendment retroactive to July 1, 2004.  L 2005, c 58, §33.]  Uponretirement from service, a member shall receive a retirement allowance asfollows:

(1)  If the member has met the requirements in section88-281(a), (b), (d), or (e), a maximum retirement allowance of one andone-fourth per cent of the average final compensation multiplied by the numberof years of credited service; or

(2)  If the member has met the requirements in section88-281(c), an early retirement allowance equal to the maximum retirementallowance reduced by one-half per cent for each month the member is less thanage sixty-two at retirement. [L 1984, c 108, pt of §8; am L 1987, c 117, §5; amL 2001, c 101, §2; am L 2005, c 58, §19]