§ 4 §1351 — Eligibility for retirement

Upon written application to the board setting forth the date upon which the member chooses to retire, any member may retire upon meeting one of the following.
1.
Age 60; at least 10 years of creditable service on July 1, 1993.
Any member who on July 1, 1993 had at least 10 years of creditable service may retire on or after the member's 60th birthday.
1-A.
Age 62; less than 10 years of creditable service on July 1, 1993.
Any member who on July 1, 1993 had less than 10 years of creditable service may retire on or after the member's 62nd birthday if:
1-B.
At least 5 years creditable service on July 1, 2011.
Eligibility for retirement for a member who on July 1, 2011 had at least 5 years of creditable service is governed by subsection 1 if the member had 10 years of creditable service on July 1, 1993 or by subsection 1‑A, if the member had less than 10 years of creditable service on July 1, 1993.
1-C.
Less than 5 years creditable service on July 1, 2011.
A member who on July 1, 2011 had less than 5 years of creditable service may retire at 65 years of age or thereafter, whether or not the member is in service at retirement, as long as the member has at the time of retirement at least 5 years of creditable service.
2.
Age 70.
Any member in service may retire on or after the member's 70th birthday, provided that the member has been in service, as a judge, for at least one year immediately before retirement.
2-A.
Five-year minimum creditable service requirement for eligibility to receive a service retirement benefit at applicable age; applicability.
The minimum requirement of 5 years of creditable service for eligibility to receive service retirement benefits under subsection 1‑A, 1‑B or 1‑C applies only to:
3.
Early retirement; at least 10 years of creditable service on July 1, 1993.
Any member, whether or not in service at retirement, who on July 1, 1993 had at least 10 years of creditable service and who has completed at least 25 years of creditable service may retire any time before the member's 60th birthday. The retirement allowance is determined in accordance with section 1352, except that it is reduced by multiplying the retirement allowance by a fraction that represents the ratio of the amount of a life annuity due at age 60 to the amount of a life annuity due at the age of retirement. The tables of annuities in effect at the date of retirement are used for this purpose.
3-A.
Early retirement; less than 10 years creditable service on July 1, 1993.
Any member, whether or not in service at retirement, who on July 1, 1993 had less than 10 years of creditable service and who has completed at least 25 years of creditable service may retire any time before the member's 62nd birthday. The retirement allowance is determined in accordance with section 1352, except that the benefit is reduced by 6% for each year that the member's age precedes age 62.
3-B.
Early retirement; less than 5 years creditable service on July 1, 2011.
Any member, whether or not in service at retirement, who on July 1, 2011 had less than 5 years of creditable service and who had completed at least 25 years of creditable service may retire any time before the member's 65th birthday. The retirement allowance is determined in accordance with section 1352, except that the benefit is reduced by 6% for each year that the member's age precedes age 65.

Legislative History

PL 1983, c. 853, §§C15,18 (NEW). PL 1983, c. 863, §§B22,B45 (AMD). PL 1985, c. 693, §9 (AMD). PL 1991, c. 528, §EEE2 (AMD). PL 1991, c. 528, §§EEE18,RRR (AFF). PL 1991, c. 591, §EEE2 (AMD). PL 1991, c. 591, §EEE18 (AFF). PL 1993, c. 410, §§L5-8 (AMD). PL 1999, c. 756, §§5-9 (AMD). PL 1999, c. 756, §6 (AMD). PL 2011, c. 380, Pt. T, §§5-8 (AMD).