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EXAMPLES <br />I. <br />.Age at <br />retirement <br />s0 <br />60 <br />2. <br />Age of <br />female beneficiary <br />49 <br />56 <br />3. <br />Option <br />3 as % of unmodified allowance <br />89.9% <br />84.9% <br />4. <br />2% at <br />Age 50 unmodified allowance (page 2) <br />$300.00 <br />$264.60 <br />S. <br />Option <br />3 allowance during your lifetime <br />(line 3 times line 4) <br />$269.70 <br />$224.65 <br />Your Case <br />(One-half of this amount will continue after your death for the remaining life of your <br />beneficiary.) <br />DISABILITY RETIREMENT <br />An employee who has become physically or mentally disabled through illness or <br />injury to the extent that he is incapable of performing his duties is eligible <br />for disability retirement. If disability is service -connected, the employee will <br />be retired on an "industrial disability" basis. Otherwise, the allowance will <br />be established on the "ordinary disability" basis. <br />INDUSTRIAL DISABILITY <br />If the disability is employment -connected, the employee will be eligible for a <br />life income equal to 50% of final compensation. <br />ORDINARY DISABILITY (Non -Industrial) <br />In order to be eligible for retirement on an "ordinary disability" basis an <br />employee must have at least five (5) years of credited service, regardless of <br />age. The amount payable would be calculated as follows: <br />Monthly Benefit as Percentage <br />Years of Service of Final Compensation <br />5 to 10 years 1.8% of Final Compensation* X years of service <br />10 to 18.51 years up to 33-1/3% of Final Compensation* <br />18.52 years and over 1.8% of Final Compensation* X years of service <br />* Average salary (without overtime) during the three highest-paid years. <br />The above amounts refer to the unmodified life allowance. A person retiring for <br />disability has the right to select an optional form of retirement, as is the case <br />with service retirement. When a person retiring for disability selects an <br />optional form of retirement, however, the reduction in his allowance from the <br />unmodified allowance will be greater than for service retirement. Persons antici- <br />pating retiring for disability may request a quotation from the Public Employees' <br />Retirement System as to the amounts payable under the various options. <br />If the retired member recovers from his disability, the benefit will cease. <br />DEATH BE'VORE RETIREMENT <br />BASIC DEATH BENEFIT <br />This benefit is a refund of the member's accumulated contributions plus six <br />months' salary provided he has been a member for six years or more. For those <br />who die before completing six years of membership, the benefit is one month's <br />-6-- <br />