§ 51.1-405 Special retirement guarantee
The retirement allowance payable to any member of the State Police Officers’ Retirement System who was in service on June 30, 1966, and who retires on or after his normal retirement date shall equal two percent of his average final compensation multiplied by his years of creditable service not in excess of twenty-five years. If a member retires prior to his normal retirement date, his allowance shall be determined in the same manner; however, the allowance shall be reduced on an actuarial equivalent basis for the period by which the actual retirement date precedes the normal retirement date. For the purposes of this section, the retirement allowance shall be determined on the assumption that it is payable to the member alone and that no optional retirement allowance is elected.
History
The record of this law’s original creation isn’t available online. It has been modified 15 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1954, chapter 139; in 1956, chapter 562; in 1966, chapter 628; in 1968, chapter 647; in 1970, chapter 657; in 1972, chapter 568; in 1973, chapters 290 and 523; in 1974, chapter 353; in 1976, chapters 525 and 538; in 1978, chapter 841; in 1981, chapter 393; in 1984, chapter 430; in 1986, chapter 73; in 1989, chapter 484; in 1990, chapter 832.
Code 1950, §§ 51-135, 51-151; 1950, p. 885; 1954, c. 139; 1956, c. 562; 1966, c. 628; 1968, c. 647; 1970, c. 657; 1972, c. 568; 1973, cc. 290, 523; 1974, c. 353; 1976, cc. 525, 538; 1978, c. 841; 1981, c. 393; 1984, c. 430; 1986, c. 73; 1989, c. 484; 1990, c. 832.