(a) Any member with twenty or more years of credited service may retire from City service upon his or her written application filed with the Retirement Board setting forth at what time, not less than thirty days nor more than ninety days subsequent to the execution and filing thereof, he or she desires to be retired.
(b) Upon retirement as provided in this section, a member shall receive an annuity provided for in Section 296.13, but reduced by .6 percent for each of the first twenty-four complete months, .5 percent for each of the next thirty-six complete months and .4 percent for each complete month in excess of sixty months by which benefit commencement precedes the date the member would have been first eligible for voluntary retirement if he or she had not terminated City employment.
(Res. 82-169. Passed 2-22-82.)