TITLE 22. PUBLIC EMPLOYEES RETIREMENT CODE
CHAPTER 22-300. RETIREMENT BENEFITS
§22-302. Separation Retirement Benefits.
(1) Separation prior to minimum retirement age. Any
member who separates from service after ten (10) or more years of credited
service, or such lesser vesting period as is authorized by § 22-301(1)(c)
or (d), but before attaining minimum retirement age, is a vested member of the
Retirement System and is entitled to separation retirement benefits, provided
that such member has not withdrawn contributions made to the Retirement
System.
(2) Effective date. Separation retirement benefits begin when
the separated member reaches the minimum retirement age specified in the plan
applicable to such member. A separated member may apply for optional early
retirement benefits according to the provisions of § 22-303 (Optional Early
Retirement Benefits).
(3) Calculation of benefits. Separation retirement
benefits are calculated in the same manner as service retirement benefits are
calculated. For calculations, see § 22-301 (Service Retirement
Benefits).
(4) Withdrawal of contributions. Any member who separates
from service may withdraw such member's contributions made to the
Retirement System, without interest, any time before becoming eligible for
retirement benefits. When a member withdraws such contributions, membership in
the Retirement System terminates. Upon withdrawal, the former member and his or
her beneficiaries and survivors are entitled to no rights or benefits under the
Retirement System, except as otherwise provided in this Title and the
Regulations of the Board.