A. The disability allowance payable to a former member of the abolished system who transferred his accumulated contributions to the retirement system and who has not withdrawn such contributions prior to retirement shall not be less than $ 2,036.28 annually.

B. Effective five months after the effective date of retirement, the amount of annual retirement allowance shall equal $ 1,000 or twenty-five percent of the average final compensation of the member, whichever is larger. Except for members of the Judicial Retirement System, any member with twenty or more years of creditable service at the time of retirement shall, effective five months after the effective date of retirement, receive a retirement allowance of not less than $ 2,036.28 annually.

C. For the purposes of this section, the retirement allowance shall be determined on the assumption that the retirement allowance is payable to the member alone and that no optional retirement allowance is elected.

History

1952, c. 157, § 51-111.57; 1956, cc. 560, 652; 1960, c. 604; 1962, c. 245; 1964, c. 186; 1966, c. 174; 1970, c. 476; 1971, Ex. Sess., c. 88; 1972, c. 568; 1973, c. 523; 1974, c. 353; 1976, c. 541; 1986, c. 474; 1990, c. 832.