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This entry was published on 2014-09-22
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SECTION 1202
Vesting
Retirement & Social Security (RSS) CHAPTER 51-A, ARTICLE 22
§ 1202. Vesting. a. In order to qualify for a service retirement
benefit, members subject to the provisions of this article must have a
minimum of ten years of creditable service.

b. In computing the years of total creditable service of a member,
full credit shall be given for military service as defined in
subdivisions twenty-nine-a and thirty of section three hundred two of
this chapter.

c. In no event shall the vested retirement allowance payable without
optional modification be less than the actuarial equivalent of the total
which results from the member's contributions accumulated with interest
at five percent per annum compounded annually to the date of retirement.