§ 16-16-13.1 - Teachers with more than 30 years of service – Amount of service retirement allowance – Minimum and maximum limitations.
SECTION 16-16-13.1
§ 16-16-13.1 Teachers with more than 30years of service – Amount of service retirement allowance – Minimumand maximum limitations. – In the case of any teacher who is a member of the employees' retirement systemof the state created by chapter 8 of title 36 who, at the time of retirement,has had at least thirty (30) years or more of total service, the teacher shallreceive an annual retirement allowance of not less than thirty-four hundreddollars ($3,400) per year with an additional increment of two hundred dollars($200) for each additional year of service up through a total of thirty-eight(38) years to a maximum of five thousand dollars ($5,000); provided that thissection shall not apply in the case of any teacher who has elected an optionfor payment of pension and has thereby reduced the amount received to less thanthe amounts set forth in this section.