§ 36-10-10.2 - Amount of service retirement allowance – Correctional officers.
SECTION 36-10-10.2
§ 36-10-10.2 Amount of service retirementallowance – Correctional officers. – (a) Upon retirement for service under § 36-10-9.2, a member shall receivea retirement allowance of an amount equal to two percent (2%) of his or heraverage compensation multiplied by his or her first thirty (30) years of totalservice within the department of corrections; any and all years of remainingservice shall be issued to the member at a retirement allowance of an amountequal to his or her average compensation multiplied by the percentage allowancedetermined in accordance with Schedule A below:
Schedule A
Years of Service Percentage Allowance
1 through 30 inclusive2%
31st 6%
32nd 5%
33rd 4%
34th 3%
35th 2%
(b) In no case shall a retirement percentage allowance exceedeighty percent (80%). Any member who has in excess of thirty-five (35) years onor before July 1, 1987, shall not be entitled to any refund. Any member withthirty-five (35) years or more on or after July 1, 1987, shall contribute fromJuly 1, 1987, until his or her retirement, provided, however, that any memberwith thirty-eight (38) years of service prior to July 1, 1987, shall not berequired to contribute.