Section 49-17-401 - Eligibility for an allowance - Date of retirement - Qualifications(1) A member is qualified to receive an allowance when:(a) the member ceases actual work for every participating employer that employs the member before the member's retirement date and provides evidence of the termination;(b) the member has submitted to the office a retirement application form that states the member's proposed retirement date; and(c) one of the following conditions is met as of the member's retirement date: (i) the member has accrued at least six years of service credit and has attained an age of 70 years;(ii) the member has accrued at least 10 years of service credit and has attained an age of 62 years;(iii) the member has accrued at least 20 years of service credit and has attained an age of 55 years; or(iv) the member has accrued at least 25 years of service credit.(2)(a) The member's retirement date:(i) shall be the 1st or the 16th day of the month, as selected by the member;(ii) shall be on or after the date of termination; and(iii) may not be more than 90 days before or after the date the application is received by the office.(b) A member may not be employed by a participating employer in the system established by this chapter on the retirement date selected under Subsection (2)(a)(i).Amended by Chapter 15, 2014 General Session ,§ 32, eff. 3/3/2014.Amended by Chapter 439, 2011, 2011 General Session