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lC. <br /> <br />A minimum service retirement allowance of $~0 per month is guaranteed <br />upon retirement at age ?0 with credit for service rendered prior to <br />said effective date~ if the ~blic Agency elects age 60 as the lo~est <br />optional service retirement age, ~or a minimum allowance of $60 per <br />month upon retirement at age 65 or over with twenty years of service, <br />or upon retirement at age ?0 with credit for prior service, if the Pub- <br />lic Agency elects age 5~ as the lowest optional service retirement age. <br /> <br />~etirement for disability, except in the case of local firemen and lo- <br />cal policemen' disabled from injury arisin~ out of and in the course <br />of employment, is permitted only after ten years of service and upon <br />proof of incapacity for the performance of duty. <br /> <br />· ~he monthly retirement alIovmnce payable upon disability retirement, <br />described in preceding item 5, is dependent upon such factors as age, <br />salary and years of service, but generally is equal to 90% of 1/7Oth, <br />or 1/60~ as the case may be~ of the average monthly salary during <br />the five ~ears immediately preceding retirement, for each year of <br />service, with a guarantee of 2~% of said salary, subject to certain <br />restrictions and modifications. <br /> <br />Disability retirement of local firemen and local policemen~ in the <br />event of disability arising out of and in the course of employment, <br />is permitted regardless of age and service, the ~onthly retirement <br />allowance being one-half the average monthly salary during the five <br />years immediately preceding retirement. <br /> <br />The benefit payable at death before retirement, e~cept in the case of <br />local firemen and local policemen dying from injury arising out of <br />and in the course of~employment, consists of the contributions of the <br />member plus interest, and plus 1/12th of the member's annual salary <br />during the year immediately preceding death, for ea~ year, not ex- <br />ceeding six years, of service as a member of the System. Upon deat~ <br />after retirement, and at the election of the Public Agency, a bene- <br />fit of $~00 is payable. <br /> <br />The monthly allowance payable to the widow and children, at the death <br />of local firemen and local policemen arising out of and in the course <br />of employment, is one-half the average monthly salary during the five <br />years ~mmediately preceding death. <br /> <br />The benefit upon separation from service by other cause than death <br />or retirement, is the refund of the member's contributions, with in- <br />terest. Hembers having accumulated contributions of at least $~00 <br />upon resignation or discharge, may elect irrevocably, within ninety <br />days, to leave contributions in the Retirement F~nd, and then upon <br />reaching the lowest optional service retirement age or becoming dis- <br />abled~ to be entitled to receive such retirement allowance as will <br />be provided by their and the Agency's contributions and their <br />credited service, regardless of service rendered. <br /> <br />F 122d - 2 (Guar. % & Comp.) 10-50 <br /> <br /> <br />