Section 12-17-227.4 Service Retirement Allowance.

(a) Any member who withdraws from service upon or after attainment of 62 years of age may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired, provided that any such member shall have completed 10 or more years of membership service in the District Attorneys’ Plan. (b) Any member who has attained 62 years of age and has previously withdrawn from service may retire upon written application to the Board of Control setting forth at what time, not less than 30 days nor more than 90 days subsequent to the execution and filing thereof, he or she desires to be retired, provided that any such member shall have completed 10 or more years of membership service. (c) Upon retirement from service, the member shall receive a service retirement allowance that shall consist of an annuity, which shall be the actuarial equivalent of the member’s accumulated contributions at the time of retirement, and a pension, that when added to the member’s annuity shall be equal to four percent of the member’s average final compensation multiplied by the member’s number of years of membership service. Notwithstanding the foregoing, the service retirement allowance shall not exceed 75 percent of the member’s average final compensation. The service retirement allowance of a member who has attained 18 or more years of membership service shall be 75 percent of the member’s average final compensation.