§ 32-71. Optional retirement.

(a)

Twenty-seven (27) years' service. Each such regular member of said Fire Department, regardless of age, who has completed twenty-seven (27) years of service shall, upon his written application, be retired on an annual pension, payable monthly, equal in amount to not less than one-half (½) pay plus an additional two (2) percent of pay for each year of service in excess of twenty-five (25) years, but in no case shall his annual pension be greater than sixty-eight (68) percent of pay.

(b)

Retirement at age fifty-five (55).

(1)

Each such regular member of said Fire Department appointed by the Mayor and confirmed by the City Council prior to the effective date of subsection (b)(2) of this section, and regardless of length of service, who has reached fifty-five (55) years of age shall, upon his written application, be retired on an annual pension, payable monthly, equal in amount to not less than two (2) percent of pay for each year of service, but in no case shall his annual pension be less than forty-five (45) percent of pay nor greater than sixty-eight (68) percent of pay.

(2)

Notwithstanding the provisions of subsection (b)(1) of this section each regular member of the Danbury Fire Department appointed by the Mayor and confirmed by the City Council on or after the effective date of the ordinance from which this subsection is derived, and who has reached fifty-five (55) years of age, and regardless of length of service, shall, upon his written application, be retired on an annual pension, payable monthly, equal in amount to two (2) percent of pay for each year of service, but in no case greater than sixty-eight (68) percent of pay.

(c)

Right of election. Every such regular member of said Fire Department shall have the right to elect either method of optional retirement.

(Code 1961, § 14-31; Ord. No. 199, § 7, 4-2-1974; Ord. No. 303, 3-6-1984)