49-12-408 - Minimum monthly allowance.
49-12-408. Minimum monthly allowance.
(1) A retiree under this system may not receive less than $9 per month for each year ofservice credit at the time of retirement.
(2) The increased allowance provided by this section may not exceed the allowancepayable under Option One under Section 49-12-402, by more than 75%.
(3) The cost of providing this benefit shall be assumed within the contribution rateestablished under Section 49-12-301.
Renumbered and Amended by Chapter 250, 2002 General Session