51.1-811 - Eligibility for retirement; retirement allowance. - Virginia Statutes

§ 51.1-811. Eligibility for retirement; retirement allowance.

Any member of a police department who has completed twenty years of servicein the department and attained the age of fifty years may retire and receivethe pension and benefits provided in this section. Upon retirement, a membershall receive a retirement allowance, payable to the member for life, equalto fifty percent of the member's annual salary, computed on the basis of thelast three years of service and an additional amount equal to two percent ofthe member's salary for each year of service after the age of fifty and aftertwenty years of service in the department.

(1940, p. 738; Michie Code 1942, § 3035i; Code 1950, § 51-120; 1990, c. 832.)