A8.605-2 SERVICE RETIREMENT

   Any member of the police department, who completes at least five years of service in the aggregate and attains the age of fifty (50) years, said service to be computed under Section A8.605-10, may retire for service at his or her option. A member retired after meeting the service and age requirements in the preceding sentence, shall receive a retirement allowance equal to the percent of final compensation (as defined in Section A8.605-1) set forth below opposite his or her age at retirement, taken to the preceding completed quarter year, for each year of service, as computed under Section A8.605-10:

Age at Retirement	Percent for Each Year of Credited Service
50	2.200
50¼	2.225
50½	2.250
50¾	2.275
51	2.300
51¼	2.325
51½	2.350
51¾	2.375
52	2.400
52¼	2.425
52½	2.450
52¾	2.475
53	2.500
53¼	2.525
53½	2.550
53¾	2.575
54	2.600
54¼	2.625
54½	2.650
54¾	2.675
55	2.700
55¼	2.725
55½	2.750
55¾	2.775
56	2.800
56¼	2.825
56½	2.850
56¾	2.875
57	2.900
57¼	2.925
57½	2.950
57¾	2.975
58	3.0

 

   In no event shall a member's initial retirement allowance exceed ninety percent of his or her average final compensation.

(Added by Proposition C, Approved 11/8/2011)