Sec. 5-163. Early retirement. (a)(1) Each member who retires or who has been
retired under the retirement system before attaining full retirement age under the Social
Security Act, as amended from time to time, shall receive additional temporary monthly
retirement income payable until such member reaches full retirement age under said
Social Security Act or, if earlier, the date on which such member would be eligible for
a Social Security disability insurance benefit. (2) The amount of such temporary income
shall be determined by the Retirement Commission so that the total retirement income
payable to the member during the temporary period shall equal that payable under the
provisions of the retirement system in effect immediately before February 21, 1958,
modified to the extent that the three highest-paid years rather than the five highest-paid
years shall be used in determining the retirement income.
(b) If the Retirement Commission finds, for a member who became a state employee on or before February 21, 1958, that the total of his monthly retirement income and the Social Security benefit he is entitled to receive resulting from state service at retirement is less than the retirement salary he would have received under the provisions of the retirement system in effect immediately before February 21, 1958, modified to the extent that the three highest-paid years rather than the five highest-paid years shall be used in determining the retirement income, then the Retirement Commission shall increase his monthly retirement income accordingly during the period when such lower total applies.
(c) Except as provided in section 5-163a, a member whose state service is terminated because of economy, lack of work, abolition of his position or lack of reappointment to a position in the unclassified service, or who, being an Army or Air National Guard technician in the Military Department, is dismissed by reason of separation from the National Guard because of age, after he has completed twenty-five years of state service but before he has reached his fifty-fifth birthday, shall be entitled to a retirement income. The amount of each monthly payment shall be determined from subsection (c) of section 5-162, if the member elects the first day of the month on or after such birthday as his retirement date; and shall be the actuarial equivalent of such amount, as determined by the Retirement Commission, if the member elects the first day of the month on or after his termination date as his retirement date.
(1949 Rev., S. 392; 1951, S. 158d; 1957, P.A. 595, S. 9; 1958 Rev., S. 5-99, 5-112; 1961, P.A. 234, S. 12; 433; 456; 1963, P.A. 515; February, 1965, P.A. 318, S. 1; 1967, P.A. 603; P.A. 75-531, S. 3, 6; P.A. 92-226, S. 19, 28; P.A. 07-211, S. 1.)
History: 1961 acts "restated" state employees retirement act "in a simpler, clearer and more orderly form" and amended Subsec. (b) by changing "became a member" to "became a state employee" and added provisions re army and air national guard technicians in Subsec. (c); 1963 act amended Subsec. (a)(1) to provide that additional temporary benefits are payable until the member "reaches sixty-five years of age" instead of until "the earliest date at which he would be" eligible for old age benefits; 1965 act amended Subsec. (a)(1) to change qualification from retirement before the member "is eligible for an old age benefit under social security" to before he "has attained sixty-five years of age"; 1967 act changed basis for determining retirement income from five highest paid years to three highest paid years for those retiring under system provisions in effect before February 21, 1958; P.A. 75-531 amended Subsec. (c) to provide exception to provisions of Subsec. and deleted language making distinctions between men and women for retirement purposes; P.A. 92-226 amended Subsec. (c) to include termination of state service because of lack of reappointment to a position in the unclassified service; P.A. 07-211 amended Subsec. (a)(1) by changing date on which temporary monthly retirement income terminates from date on which member attains 65 years of age to date on which member attains full retirement age under Social Security Act and by making technical changes.
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