A vested inactive member who was a member or inactive member on December 31, 2006, who has reached the age and service requirements for a service or reduced service retirement benefit on or before January 1, 2011, and who has at least twenty-five years of service credit prior to terminating membership shall be eligible, upon retirement, for a benefit, as calculated pursuant to the provisions of section 24-51-603 or 24-51-605, which has been increased by the annual increase specified in sections 24-51-1001 to 24-51-1003, from the date of termination of membership or July 1, 1993, whichever is later, to the effective date of retirement.
Source: L. 93: Entire section added, p. 477, § 3, effective July 1. L. 95: Entire section amended, p. 555, § 10, effective July 1. L. 2006: Entire section amended, p. 1184, § 16, effective May 25. L. 2010: Entire section amended, (SB 10-001), ch. 2, p. 17, § 16, effective January 1, 2011.