§ 102:15 — Retirement

Any permanent fireman who retires or is dismissed from active service as provided in RSA 102:13, and who shall have complied with all provisions of this chapter and with the rules and regulations of the board, shall be entitled to receive from said board for each year during the remainder of his natural life retirement benefits based upon his average final salary, as defined hereinafter, at the rates in the following table:
Age at
Retirement Benefits
Retirement
(percent of average final salary)
BRACKET55
48.9
56
52.0
57
55.3
58
58.8
59
62.5
60
66.7
61
(Benefits to exceed
62
(66.7 percent as may
63
(be determined by
64
(board upon actuarial
65
(valuations
The "average final salary" shall mean the highest average annual earnable compensation of a member during any 3 consecutive years of service prior to the date of retirement or dismissal, as determined by the board. The retirement benefits shall be paid to the retired member monthly in as nearly equal monthly installments as possible. No permanent fireman who has retired under the provisions of this chapter shall be paid for any service performed in the fire department during the time of his retirement unless it be for specific duty during a period of public emergency. The board shall have the right to further increase the actuarial table of rates of retirement benefits accruing to members retiring on account of age, between the ages of 55 and 65 inclusive, based upon periodic actuarial valuations of the retirement system.

Legislative History

1939, 154:11. 1941, 192:12. RL 220:15. 1949, 220:1. RSA 102:15. 1957, 15:3. 1963, 245:1. 1967, 405:10. 1971, 511:2, eff. July 1, 1971.