§88-332 - Service retirement allowance.
§88-332 Service retirement allowance. Upon retirement from service, a class H member shall receive a maximum retirement allowance as follows:
(1) If the member has met the requirements in section 88-331(a), (b), or (d), a maximum retirement allowance of two per cent of the average final compensation multiplied by the number of years of class H credited service, plus a retirement allowance at the rate of one and one-fourth per cent of the member's average final compensation multiplied by the number of years of class C credited service; or
(2) If the member has met the requirements in section 88-331(c), an early retirement allowance equal to the maximum retirement allowance calculated as provided in paragraph (1), reduced by 0.4166 per cent for each month the member is less than age sixty-two at retirement. [L 2004, c 179, pt of §1; am L 2005, c 58, §26]