(a) This section shall apply to the retirement of members employed as registered nurses within the department of behavioral healthcare, developmental disabilities and hospitals.
(b) Any member who has attained the age of fifty (50) years may be retired subsequent to the proper execution and filing of written application; provided, however, that the member shall have completed twenty-five (25) years of total service within the department of behavioral healthcare, developmental disabilities and hospitals and who retires before October 1, 2009, or is eligible to retire as of September 30, 2009.
(c) For members who become eligible to retire on or after October 1, 2009, benefits are available to members who have attained the age of fifty-five (55) and have completed at least twenty-five (25) years of total service within the department of behavioral healthcare, developmental disabilities and hospitals. For members in service as of October 1, 2009, who were not eligible to retire as of September 30, 2009, but who are eligible to retire on or prior to June 30, 2012, the minimum retirement age of fifty-five (55), the retirement age will be adjusted downward in proportion to the amount of service the member has earned as of September 30, 2009. The proportional formula shall work as follows:
(1) The formula shall determine the first age of retirement eligibility under the laws in effect on September 30, 2009, which shall then be subtracted from the minimum retirement age of fifty-five (55).
(2) The formula shall then take the member's total service credit as of September 30, 2009, as the numerator and the years of service credit determined under (1) as the denominator.
(3) The fraction determined in (2) shall then be multiplied by the age difference determined in (1) to apply a reduction in years from age fifty-five (55).
History of Section.
P.L. 1983, ch. 211, § 2; P.L. 2009, ch. 68, art. 7, § 3; P.L. 2011, ch. 363, § 30; P.L. 2011, ch. 408, § 7; P.L. 2011, ch. 409, § 7.