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Effective September 1, 2004, for participants who terminated on or after September 1,
<br />2004, one and forty hundredths percent of the final average compensation multiplied by
<br />the total period of creditable service, in years and months.
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<br />For participants who terminated on or after January 1, 2003, but prior to September 1,
<br />2004, one and thirty-five hundredths percent of the final average compensation multiplied
<br />by the total period of creditable service, in years and months. For participants who
<br />terminated after January 1, 2000, but prior to January 1, 2003, one and one-tenth percent
<br />of the final average compensation multiplied by the total period of creditable service, in
<br />years and months, effective through February 28, 2001; and effective March 1, 2001, one
<br />and three-tenths percent of the final average compensation multiplied by the total period
<br />of creditable service, in years and months. For participants who terminated between June
<br />1, 1994 and January 1, 2000, one and one-tenth percent of the final average compensation
<br />multiplied by the total period of creditable service, in years and months. For participants
<br />who terminated prior to June 1, 1994, the benefit shall be computed using the formula in
<br />effect on the termination date. For participants who terminated on or after July 1, 2002,
<br />such participants shall receive an additional one-half of one percent of their final average
<br />compensation in excess of the breakpoint amount at the time of termination multiplied by
<br />the total period of creditable service, in years and months up to a maximum of thirty-five
<br />(35) years; the breakpoint amount shall be thirty-two thousand dollars ($32,000.00) in
<br />2002, but shall increase by one thousand dollars ($1,000.00) per year thereafter, effective
<br />the first day of each successive year. Effective January 1, 1997, for participants who
<br />terminated between December 1, 1996 and June 30, 2002, such participants shall receive
<br />an additional one-quarter of one percent of their final average compensation in excess of
<br />the breakpoint amount at the time of termination multiplied by the total period of
<br />creditable service, in years and months up to a maximum of thirty-five (35) years; the
<br />breakpoint amount shall be twenty-six thousand dollars ($26,000.00) in 1996, but shall
<br />increase by one thousand dollars ($1,000.00) per year thereafter, effective the first day of
<br />each successive year;
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<br />For employees hired prior to January 1, 1973, the greater of the pension payable under
<br />subsection (C)(1) of this section, or the sum of subsection (C)(2)(a) and (b) of this section
<br />multiplied by 1.25 for participants who terminated prior to December 31, 1996, by 1.37
<br />for participants who terminated between December 31, 1996 and June 30, 2001, and by
<br />1.62 for participants who terminated on or after July 1, 2001:
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<br />Two-thirds of one percent of the final average compensation plus one percent of
<br />the final average compensation in excess of six thousand six hundred dollars
<br />($6,600.00); all multiplied by the period of creditable service, in years and months,
<br />rendered prior to January 1, 1968.
<br />Two-thirds of one percent of the final average compensation plus one percent of
<br />the final average compensation in excess of the average Social Security base;
<br />multiplied by the period of creditable service in years and months, rendered
<br />subsequent to January 1, 1968.
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