(A) Any member of the Police or Fire Department having served 20 years or longer in the Police or Fire Departments may petition the Board of Trustees for retirement and, if his or her petition is granted, the Board may order paid to him or her monthly 50% of his or her monthly salary at the time of retirement. If this petition for retirement is denied, any police officer or fire fighter has the right of appeal in accordance with the Rules of Civil Procedure.
(B) The pension payable for periods of service between 20 and 25 years shall be 50% of salary plus 2% of salary for each year in excess of 20. The pension payable for 25 years of service shall be 60% of salary. The pension payable for periods of service between 25 and 30 years shall be 60% of salary plus 3% of salary for each year in excess of 25. The pension payable for 30 years of service shall be 75% of salary.
(KRS 95.624(1), (2))
(Ord. 448, passed 12-17-1946; Ord. 30-1962, passed 1-2-1963)