§ 18-26. Retirement dates.

The respective retirement dates for members shall be as follows:

(1)

Normal retirement date for members of the General Employee Tier One Plan. The normal retirement date for members shall be the first day of the month coincident with or next following the date on which a member attains age fifty-five (55) and completes ten (10) years of credited service, or at any time thereafter as determined by the member.

(2)

Normal retirement date for members of the General Employee Tier Two Plan. The normal retirement date for members shall be the first day of the month coincident with or next following the date on which a member attains age fifty-nine (59) and completes ten (10) years of credited service, or at any time thereafter as determined by the member.

(3)

Early retirement. Members may retire from employment with the city on the first day of any month following the fiftieth birthday, provided that the member shall have completed at least fifteen (15) years of credited service on such early retirement date, or at any time thereafter as determined by the member or a member may retire from employment following the completion of twenty-five (25) years of credited service at any age.

Each member shall become one hundred (100) percent vested in his accrued benefit on his early retirement date.

(Code 1964, § 9A-4; Ord. No. 1335, § 1, 7-24-85; Ord. No. 1336, §§ 2, 3, 7-24-85; Ord. No. 1380, § 3, 2-19-86; Ord. No. 1414, §§ 2, 3, 8-27-86; Ord. No. 1416, § 4, 8-27-86; Ord. No. 1438, § 1, 11-19-86; Ord. No. 2229, § 1, 8-30-2000; Ord. No. 2448, § 3, 8-11-2010)