§ 45-21.2-6.2 - Johnston police department retirement allowance.
SECTION 45-21.2-6.2
§ 45-21.2-6.2 Johnston police departmentretirement allowance. – Upon retirement from service pursuant to subdivision (1), (2), or (6) of §45-21.2-5, a member of the Johnston police department receives a retirementallowance which is a life annuity terminable at the death of the annuitant, andis an amount equal to the sum of two percent (2%) of final compensationmultiplied by the first twenty-five (25) years of service and four percent (4%)of final compensation multiplied by the years of service in excess oftwenty-five (25) years. The annual retirement allowance in no event shallexceed seventy-five percent (75%) of final compensation.