53 Pa. Stat. § 881.408

Current through Pa Acts 2024-53, 2024-56 through 2024-92

Section 881.408 - Early retirement

Should a member be discontinued from service not voluntarily, after having completed a required number of years of total service, or voluntarily after having completed a required number of years of total service, but in either event before reaching superannuation retirement age, he shall be paid, as he may elect, as follows:

(1) The full amount of the accumulated deductions standing to his credit in the member's account of the fund, plus the balance in the member's excess investment account; or

(2) The early retirement allowance, if any, specified in the contract.

53 P.S. § 881.408

1974, Feb. 1, P.L. 34, No. 15, § 408, effective in 90 days. Amended 1980, May 17, P.L. 135, No. 50, § 11, effective in 60 days.