8-36-306 - Alternative early retirement.
8-36-306. Alternative early retirement.
(a) Any member in Group 1 shall be eligible for a retirement benefit upon completion of twenty-five (25) years of creditable service.
(b) If the member is less than fifty-five (55) years of age, such benefit shall be the actuarial equivalent of the retirement benefit which would be payable to the member at fifty-five (55) years of age.
(c) The provisions of this section shall be optional for political subdivisions participating under the provisions of chapter 35 of this title.
[Acts 1983, ch. 308, § 1; T.C.A., § 8-36-201.]