A. Any member who attains the age of fifty-five years and has twenty-five years or more of service credit shall be eligible to receive a retirement annuity of two hundred fifty dollars ($250), payable monthly from the fund during the remainder of the member's life.
B. Any member who attains the age of fifty-five years and has at least ten but less than twenty-five years or more of service credit shall be eligible to receive a retirement annuity of one hundred twenty-five dollars ($125), payable monthly from the fund during the remainder of the member's life.
C. Any member who ceases to be a volunteer nonsalaried firefighter after completing at least ten but less than twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of one hundred twenty-five dollars ($125), payable monthly from the fund during the remainder of the member's life.
D. Any member who ceases to be a volunteer nonsalaried firefighter after completing twenty-five years of service credit is eligible to receive upon attaining the age of fifty-five years a retirement annuity of two hundred fifty dollars ($250), payable monthly from the fund during the remainder of the member's life.
E. Any member who qualifies for and receives a retirement annuity pursuant to this section may continue as an active member on the rolls of a fire department. However, such member shall not accrue additional service credit for the purpose of increasing the amount of the member's retirement annuity.
History: Laws 1983, ch. 263, § 5; 2009, ch. 262, § 3; 2013, ch. 79, § 1.
ANNOTATIONSThe 2013 amendment, effective July 1, 2013, increased the retirement benefits of eligible plan retirees; in Subsection A, after "retirement annuity of", deleted "two hundred dollars ($200)" and added "two hundred fifty dollars ($250)"; in Subsection B, after "retirement annuity of", deleted "one hundred dollars ($100)" and added "one hundred twenty five dollars ($125)"; in Subsection C, after "retirement annuity of", deleted "one hundred dollars ($100)" and added "one hundred twenty five dollars ($125)"; and in Subsection D, after "retirement annuity of", deleted "two hundred dollars ($200)" and added "two hundred fifty dollars ($250)".
The 2009 amendment, effective June 19, 2009, made grammatical changes.