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264.090 Normal service retirement. The normal service retirement date of a member shall be the first day of the month following the earlier of: 1. The member's sixty-fifth birthday; or 2. The date as of which the member has both attained the age of sixty-two (62) and completed at least thirty (30) years of creditable service. Such normal service retirement date may be extended by the employee, year to year, until such time as the member reaches the age of seventy (70) years. At such time, the extended normal retirement date shall be the first day of the month following the member's seventieth birthday. Any member may retire as of the normal service retirement date or as of the first day of any month thereafter, or as of the extended normal service retirement date, upon the member's written application to the board of trustees not less than thirty (30) days nor more than ninety (90) days prior to such date. Upon retirement on the normal retirement date or an extended service retirement date, a member shall receive a pension beginning on the day after the employee retires from the city service equal to: 1. For participants who terminated after January 1, 2000, one and one-tenth percent of the final average compensation multiplied by the total period of creditable service, in years and months, effective through February 28, 2001; and effective March 1, 2001, one and three-tenths pement of the final average compensation multiplied by the total period of creditable service, in years and months. For participants who terminated between Jnne 1, 1994 and January 1, 2000, one and one-tenth percent of the final average compensation multiplied by the total period of creditable service, in years and months. For participants who terminated prior to June 1, 1994, the benefit shall be computed using the formula in effect on the termination date. Effective January 1, 1997, for participants who terminated after December 1, 1996, such participants shall receive an additional one-quarter of one percent of their final average compensation in excess of the breakpoint amount at the time of termination multiplied by the total period of creditable service, in years and months up to a maximum of thirty-five (35) years; the breakpoint amount shall be twenty-six thousand dollars ($26,000.00) in 1996, but shall increase by one thousand dollars ($1,000.00) per year thereafter, effective the first day of each successive year; For employees hired prior to January 1, 1973, the greater of the pension payable under subsection (C)(1) of this section, or the sum ofsubsection (C)(2)(a) and (b) of this section multiplied by 1.25 for participants who terminated prior to December 31, 1996, by 1.37 for participants who terminated between December 31, 1996 and June 30, 2001, and by 1.62 for participants who terminated on or after July 1, 2001: a. Two-thirds of one percent of the final average compensation plus one percent of the final average compensation in excess of six thousand six hundred 3