51.1-404 - Disability retirement. - Virginia Statutes

§ 51.1-404. Disability retirement.

A. Disability retirement guarantee. - The disability allowance payable to aformer member of the abolished system who transferred his accumulatedcontributions to the retirement system and who has not withdrawn suchcontributions prior to retirement shall not be less than $2,036.28 annually.

B. Minimum disability retirement allowance. - Effective five months after theeffective date of retirement, the amount of annual retirement allowance shallequal $1,000 or twenty-five percent of the average final compensation of themember, whichever is larger. Except for members of the Judicial RetirementSystem, any member with twenty or more years of creditable service at thetime of retirement shall, effective five months after the effective date ofretirement, receive a retirement allowance of not less than $2,036.28annually.

C. Determination of retirement allowance. - For the purposes of this section,the retirement allowance shall be determined on the assumption that theretirement allowance is payable to the member alone and that no optionalretirement allowance is elected.

(1952, c. 157, § 51-111.57; 1956, cc. 560, 652; 1960, c. 604; 1962, c. 245;1964, c. 186; 1966, c. 174; 1970, c. 476; 1971, Ex. Sess., c. 88; 1972, c.568; 1973, c. 523; 1974, c. 353; 1976, c. 541; 1986, c. 474; 1990, c. 832.)