(a) (1) The amount of the monthly service or disability pension payable to an employee or former employee shall be the sum of 2.0% of the employee’s final average compensation multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s period of credited service prior to January 1, 1997, plus 1.85% of the employee’s final average compensation multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s period of credited service after December 31, 1996. If the employee is a 911 operator, then the amount of pension would also include 2.45% of the employee’s final average compensation multiplied by years of service above 25 years. The amount payable to a participant who does not make the additional contribution provided in § 5501(j) of this title for years of credited service before 1977 shall be the sum of 2.0% of the employee’s final average compensation multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s period of credited service between January 1, 1977, and December 31, 1996, plus 2.0% of the employee’s final average compensation multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s period of credited service prior to January 1, 1977, provided that the maximum amount based on the service before 1977 is $1,000, plus 1.85% of the employee’s final average compensation multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s period of credited service after December 31, 1996.
(2) If the employee is a correction officer or a specified peace officer then the amount of pension shall also include the following:
a. For years of service before December 31, 2021, 2.45% of the employee’s final average compensation multiplied by years of service above 25 years.
b. For years of service on or after January 1, 2022, 2.5% of the employee’s final average compensation multiplied by the number of years of service for up to 20 years, plus 3.5% of the employee’s final average compensation multiplied by the number of years of service above 20 years.
(b) In the case of an employee or former employee whose credited service under § 5501(e)(1), (2) and (3) of this title includes service before June 1970, the minimum amount payable shall be:
(1) If the employee or former employee has 15 years of such credited service, the lesser of $150 or the employee or former employee final average compensation; or
(2) If the employee or former employee does not have 15 years of such credited service, the minimum amount payable under subsection (c) of this section, subject to the limitation specified in subsection (c) of this section.
(c) In the case of an employee or former employee whose credited service under § 5501(e)(1), (2) and (3) of this title does not include service before June 1970, but does include service prior to July 1, 1976, the minimum amount payable shall be $5.00 multiplied by the number of years, taken to the nearest twelfth of a year, in the employee’s or former employee’s period of credited service, but not more than 30 such years.
(d) (1) Notwithstanding provisions of this chapter to the contrary, an elected official shall receive a pension computed in accordance with this subsection. The service or disability pension payable to the elected official and the survivor’s pension payable to the eligible survivor of such individuals shall be computed on the basis of compensation to the elected official as an elected official irrespective of other credited service, with contribution to be determined based upon compensation as an elected official. The minimum amount of pension payable to an individual elected to be a member of the General Assembly before February 28, 2025, shall be computed by multiplying the elected official’s years of service as an elected member of the General Assembly times the highest rate of payment being paid to any retired member of the General Assembly, such rate to be computed by dividing the monthly pension being paid to such retired member by the elected official’s years of service as an elected member of the General Assembly. The pension payable to an individual elected to be a member of the General Assembly on or after February 28, 2025, shall be computed under paragraph (a)(1) of this section. An elected official elected prior to January 1, 2012, shall be eligible to receive a pension beginning with the first month after the attainment of age 60, provided that the elected official shall have served at least 5 years at the time of the elected official’s termination of service as an elected official, or beginning with the first month after attainment of age 55, provided that the elected official shall have served at least 10 years at the time of the elected official’s termination of service as an elected official. An elected official elected on or after January 1, 2012, shall be eligible to receive a pension beginning with the first month after the attainment of age 60, provided that the elected official shall have served at least 20 years at the time of the elected official’s termination of service as an elected official, or beginning with the first month after attainment of age 65, provided that the elected official shall have served at least 10 years at the time of the elected official’s termination of service as an elected official. For the purposes of this section, a member of the General Assembly who is elected on election day in November and serves through the next election day in November will receive full-service credit for that term. Any pension for credited service other than as an elected official shall be determined under the remainder of this chapter as a separate pension.
(2) a. The minimum amount of pension payable to a statewide elected official shall be computed by multiplying the elected official’s years of service as an elected official times the highest rate of payment being paid to any retired member of the General Assembly. The employee must elect to receive the minimum pension provided for in this subsection prior to the issuance of the elected official’s first benefit check. This election must be made in a form approved by the Board and shall be irrevocable.
b. A statewide elected official receiving a service or disability pension which was effective prior to July 1, 1996, may elect to receive the minimum provisions of subsection (a) of this section. This election must be made in a form approved by the Board, filed prior to July 31, 1996, to be effective August 1, 1995, for statewide elected officials receiving a service or disability pension on July 1, 1996.
(e) Any section of this chapter to the contrary notwithstanding, the amount of the monthly service or disability pension payable to any regular part-time employee who is not employed on a full-time or annual basis, as the term full-time or annual basis is defined in rules and regulations adopted by the Board, shall be determined in accordance with subsection (a) of this section, provided that no minimum amount shall be payable to any such regular part-time employee. However, for any public school cafeteria employee who entered state service on or before July 1, 1971, and who accrues 15 years of credited service as an employee under § 5501(e)(1) of this title by the date of the employee’s retirement eligibility, shall receive, beginning at age 62, a minimum amount which, when combined with the social security benefit, shall not be less than $ 200 per month.
(f) Notwithstanding provisions of this chapter to the contrary, the minimum amount of monthly service, including vested, or disability pension payable to any full-time or regular part-time employee shall be $1.00 multiplied by each year of service taken to the nearest1/12of a year. In the case of a regular part-time cafeteria worker also eligible for a minimum pension under subsection (e) of this section, the minimum shall be the greater of subsection (e) or this subsection. The minimums specified in this subsection shall not apply to members of boards or commissions.
(g) (1) Notwithstanding provisions of this chapter to the contrary, an employee may elect to have the employee’s service or disability pension computed under this chapter reduced by 2% thereby providing a survivor’s pension equal to2/3of such reduced amount to the employee’s eligible survivor or survivors at the time of the employee’s death. This election must be made in a form approved by the Board, filed prior to the issuance of the employee’s first benefit check and shall be irrevocable.
(2) Notwithstanding provisions of this section to the contrary, an employee may elect to have the employee’s service or disability pension, computed under this section, reduced by 3% thereby providing a survivor’s pension equal to 75% of such reduced amount to the employee’s eligible survivor or survivors at the time of the employee’s death. This election must be made in a form approved by the Board, filed prior to the issuance of the employee’s first benefit check and shall be irrevocable.
(3) Notwithstanding the provisions of this section to the contrary, an individual receiving a service or disability pension which was effective prior to July 1, 1989, or an individual with a vested right to a service pension may elect to have the employee’s service or disability pension reduced by 3%, thereby providing a survivor’s pension equal to 75% of such reduced amount to the employee’s eligible survivor or survivors at the time of the employee’s death. This election must be made in a form approved by the Board, filed prior to December 15, 1989, to be effective January 1, 1990, for individuals receiving a service or disability pension on July 1, 1989, or, in the case of an individual with a vested right to a service pension, filed prior to the issuance of the employee’s first pension check.
(4) Notwithstanding provisions of this chapter to the contrary, an employee may elect to have the employee’s service or disability pension computed under this chapter reduced by 6% thereby providing a survivor’s pension equal to 100% of such reduced amount to the employee’s eligible survivor or survivors at the time of the employee’s death. This election must be made in a form approved by the Board, filed prior to the issuance of the employee’s first benefit check and shall be irrevocable.