A. Member contributions. - Any member who was a former member of theabolished system, who transferred his accumulated contributions to theretirement system, and who has not withdrawn such contributions may, at thetime of filing his notice of retirement, deposit in his member's contributionaccount an amount which will increase his total retirement allowance to anamount not greater than the largest amount obtainable under the applicableprovisions of subsection C of this section.
B. Normal retirement guarantee. - The retirement allowance payable uponnormal retirement to a former member of the abolished system who transferredhis accumulated contributions to the retirement system and who has notwithdrawn his contributions prior to retirement shall not be less than theservice retirement allowance to which the member would have been entitledunder the provisions of the abolished system if he had continuedcontributions in the amount in effect on the date the system was abolished.In the case of a member with thirty or more years of creditable service, thelarger of such allowance or $2,036.28 annually shall be paid.
C. Early retirement guarantee. - The retirement allowance payable upon earlyretirement to a former member of the abolished system who transferred hisaccumulated contributions to the retirement system and who has not withdrawnhis contributions prior to retirement, and who would have qualified prior tonormal retirement for a service retirement allowance under the abolishedsystem, shall, prior to the member's sixty-fifth birthday, not be less thanthe service retirement allowance that would have been payable under theprovisions of the abolished system. After the member's sixty-fifth birthday,it shall not be less than the larger of such allowance or $2,036.28 annually.
D. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, §§ 51-111.46, 51-111.55; 1956, c. 560; 1960, cc. 138, 604;1962, c. 417; 1964, c. 223; 1966, c. 174; 1970, c. 476; 1972, cc. 118, 568;1973, c. 523; 1974, c. 353; 1976, c. 538; 1977, c. 620; 1978, c. 841; 1984,c. 430; 1987, cc. 13, 14; 1990, c. 832.)
A. Member contributions. - Any member who was a former member of theabolished system, who transferred his accumulated contributions to theretirement system, and who has not withdrawn such contributions may, at thetime of filing his notice of retirement, deposit in his member's contributionaccount an amount which will increase his total retirement allowance to anamount not greater than the largest amount obtainable under the applicableprovisions of subsection C of this section.
B. Normal retirement guarantee. - The retirement allowance payable uponnormal retirement to a former member of the abolished system who transferredhis accumulated contributions to the retirement system and who has notwithdrawn his contributions prior to retirement shall not be less than theservice retirement allowance to which the member would have been entitledunder the provisions of the abolished system if he had continuedcontributions in the amount in effect on the date the system was abolished.In the case of a member with thirty or more years of creditable service, thelarger of such allowance or $2,036.28 annually shall be paid.
C. Early retirement guarantee. - The retirement allowance payable upon earlyretirement to a former member of the abolished system who transferred hisaccumulated contributions to the retirement system and who has not withdrawnhis contributions prior to retirement, and who would have qualified prior tonormal retirement for a service retirement allowance under the abolishedsystem, shall, prior to the member's sixty-fifth birthday, not be less thanthe service retirement allowance that would have been payable under theprovisions of the abolished system. After the member's sixty-fifth birthday,it shall not be less than the larger of such allowance or $2,036.28 annually.
D. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, §§ 51-111.46, 51-111.55; 1956, c. 560; 1960, cc. 138, 604;1962, c. 417; 1964, c. 223; 1966, c. 174; 1970, c. 476; 1972, cc. 118, 568;1973, c. 523; 1974, c. 353; 1976, c. 538; 1977, c. 620; 1978, c. 841; 1984,c. 430; 1987, cc. 13, 14; 1990, c. 832.)
A. Member contributions. - Any member who was a former member of theabolished system, who transferred his accumulated contributions to theretirement system, and who has not withdrawn such contributions may, at thetime of filing his notice of retirement, deposit in his member's contributionaccount an amount which will increase his total retirement allowance to anamount not greater than the largest amount obtainable under the applicableprovisions of subsection C of this section.
B. Normal retirement guarantee. - The retirement allowance payable uponnormal retirement to a former member of the abolished system who transferredhis accumulated contributions to the retirement system and who has notwithdrawn his contributions prior to retirement shall not be less than theservice retirement allowance to which the member would have been entitledunder the provisions of the abolished system if he had continuedcontributions in the amount in effect on the date the system was abolished.In the case of a member with thirty or more years of creditable service, thelarger of such allowance or $2,036.28 annually shall be paid.
C. Early retirement guarantee. - The retirement allowance payable upon earlyretirement to a former member of the abolished system who transferred hisaccumulated contributions to the retirement system and who has not withdrawnhis contributions prior to retirement, and who would have qualified prior tonormal retirement for a service retirement allowance under the abolishedsystem, shall, prior to the member's sixty-fifth birthday, not be less thanthe service retirement allowance that would have been payable under theprovisions of the abolished system. After the member's sixty-fifth birthday,it shall not be less than the larger of such allowance or $2,036.28 annually.
D. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.
(1952, c. 157, §§ 51-111.46, 51-111.55; 1956, c. 560; 1960, cc. 138, 604;1962, c. 417; 1964, c. 223; 1966, c. 174; 1970, c. 476; 1972, cc. 118, 568;1973, c. 523; 1974, c. 353; 1976, c. 538; 1977, c. 620; 1978, c. 841; 1984,c. 430; 1987, cc. 13, 14; 1990, c. 832.)
