Any participant in this plan who elects to retire on or before March 31, 1996, and
who has completed at least ten years of actual service with Fulton County (or the
Fulton County Department of Family and Children Services) and whose age and years
of creditable service under this plan equals at least 73 on March 15, 1996, shall
be entitled to receive a 1996 early retirement window benefit. The amount of the 1996
early retirement window benefit, stated as a monthly amount in the form of a single
life annuity for the life of the participant, shall be the participant's accrued benefit
at his retirement date computed in accordance with section 154-92, without adjustment for commencement before normal retirement date; provided, however,
that for the purpose of calculating such benefit, the final average monthly earnings
of the participant shall be the average monthly earnings received by the participant
during the calendar year 1995, plus accrued annual leave not to exceed 14 hours and
plus earned compensatory time not to exceed 6.67 hours.
(b)
All amounts required to amortize the actuarial liability created by this section shall
be paid by the Board of Commissioners of Fulton County in accordance with the provisions
of the Public Retirement System Standards Law, O.C.G.A. § 47-20-1 et seq.
(96-0202, §§ 1, 2, 2-14-96)
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