§ 154-132. Deferred retirement benefits.

Latest version.

(a)

Eligibility. The deferred retirement benefit shall be paid to a participant whose employment with the employer terminates after his normal retirement date for any reason other than death.

(b)

Amount. The amount of the deferred retirement benefit, stated as a monthly amount in the form of a single life annuity for the life of the participant, shall be equal to the participant's accrued benefit at his deferred retirement date determined pursuant to section 154-92.

(c)

Commencement. The deferred retirement benefit shall be payable commencing on the participant's deferred retirement date and shall continue on the first day of each month for the life of the participant, subject to the provisions on the effect of reemployment and death on benefits in sections 154-140 and 154-142.

(91-RC-669, § 4.2, 12-18-91)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');