§ 10-12-3-6 — Old age retirements; right to monthly income; minimum service for full amount

If an employee beneficiary is retired for old
age, the employee beneficiary is entitled to receive a lifelong monthly
income as specified in section 7 of this chapter. However, to be entitled
to the full amount of the basic pension amount, an employee
beneficiary must have completed at least twenty (20) years of service
to the department before retirement. Otherwise, the employee
beneficiary is entitled to receive a proportionate pension based on the
employee beneficiary's years of service to the department.
[Pre-2003 Recodification Citation: 10-1-2.2-6.]

Legislative History

As added by P.L.2-2003, SEC.3.