Amount of early retirement benefit.

71-02-04-07. Amount of early retirement benefit. 1. Except for a national guard security officer or firefighter or a peace officer or correctional officer employed by the bureau of criminal investigation or by a political subdivision, the early retirement benefit for members first enrolled prior to December 31, 2015, shall be an amount actuarially reduced from the single life retirement benefit by one-half of one percent for each month (six percent per year) that the member is younger than the age at which the member 4 would be at the member's normal retirement date on the date of the member's early retirement benefit effective date. 2. For a national guard security officer or firefighter or a peace officer or correctional officer employed by the bureau of criminal investigation or by a political subdivision, the early retirement benefit must be an amount actuarially reduced from the single life retirement benefit by one-half of one percent for each month (six percent per year) that the member is younger than age fifty-five on the date of the member's early retirement benefit effective date. History: Amended effective September 1, 1982; June 1, 1996; April 1, 2002; May 1, 2004; July 1, 2006; July 1, 2010; April 1, 2016. General Authority: NDCC 54-52-04, 54-52-17 Law Implemented: NDCC 54-52-17