(1) This section shall only apply to DPS members who have five or more years of service credit as of January 1, 2011. For DPS members who have less than five years of service credit as of January 1, 2011, eligibility for retirement without an actuarial reduction shall be governed by section 24-51-602 (1)(a.7) and (1)(d).
Whenever a contributing member or affiliate member pursuant to the DPS plan hascompleted a period of twenty-five years of active service, of which not less than fifteen years shall have been with the district, and has attained the age of fifty-five years while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the association.
Whenever a contributing member or affiliate member of the DPS plan has completeda period of five years of active service and has attained the age of sixty-five while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the board of trustees.
Whenever a contributing member or affiliate member pursuant to the DPS plan hascompleted a period of thirty years of active service with the district and has attained the age of fifty years while in the service of the district, said member shall be eligible for retirement for superannuation. Such retirement shall be made upon due application and subject to such rules as may be prescribed by the association.
Source: L. 2009: Entire part added, (SB 09-282), ch. 288, p. 1366, § 56, effective January 1, 2010. L. 2010: Entire section amended, (SB 10-001), ch. 2, p. 25, § 27, effective January 1, 2011.