Sec. 5-192m. Early retirement.
Sec. 5-192m. Early retirement. (a) Each member of tier II who has attained age
fifty-five and has completed ten or more years of vesting service, shall be retired on his
own application on the first day of any future month named in the application. Benefits
shall be payable from that date provided the member is no longer in state employment.
(b) Each member referred to in subsection (a) of this section shall receive a monthly
retirement income beginning on his retirement date equal to the benefit provided in
subsection (c) of section 5-192l based on his final average earnings and credited service
at the member's retirement date, but then permanently reduced by one-half of one per
cent for each month his retirement precedes his attainment of age sixty-five.
(c) Notwithstanding the provisions of subsections (a) and (b) of this section, for
each member referred to in subsection (a) of this section who has completed twenty-five or more years of vesting service, the monthly retirement income shall be the greater
of the amount calculated under subsection (b) of this section or (1) if retirement occurs
before July 1, 1983, $200; (2) if retirement occurs on or after July 1, 1983, and on or
before June 30, 1984, $220; (3) if retirement occurs on or after July 1, 1984, and on or
before June 30, 1985, $240; (4) if retirement occurs on or after July 1, 1985, and on or
before June 30, 1986, $260; (5) if retirement occurs on or after July 1, 1986, and on or
before June 30, 1987, $280; (6) if on or after July 1, 1987, $300.
(P.A. 83-533, S. 29, 54.)