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 Danbury
 Code of Ordinances
 Chapter 32. PENSIONS AND RETIREMENT
 Article IV. POLICE DEPARTMENT

  § 32-106. Optional retirement.  

Latest version.

  • (a)

    When a regular member of either the Pre-1967 Police Pension Fund of Danbury or the 1967 Police Pension Fund of Danbury has completed twenty-seven (27) years of service, regardless of age, such member shall upon 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 such member's annual pension be greater than sixty-eight (68) percent of pay.

    (b)

    When a regular member of the 1983 Police Pension Fund of Danbury has completed twenty-five (25) years of service, regardless of age, such member shall upon written application be retired on an annual pension payable monthly, equal in amount to three (3) percent of pay per year of service for the final five (5) years of service, and two (2) percent of pay per year of service for years prior to the final five (5) years, but in no case greater than sixty-eight (68) percent of pay.

    (c)

    Each regular member of the Police Department appointed by the Mayor and confirmed by the City Council prior to September 10, 1984, and regardless of length of service, who has reached fifty-five (55) years of age shall upon that member's 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 that member's annual pension be less than forty-five (45) percent of pay nor greater than sixty-eight (68) percent of pay.

    (d)

    Notwithstanding the provisions of subsection (c) of this section, each regular member of the 1983 Police Pension Fund of Danbury appointed by the Mayor and confirmed by the City Council on or after September 10, 1984, who has reached fifty-five (55) years of age, and regardless of length of service, shall upon that member's 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.

    (e)

    Every such regular member of the Police Department shall have the right to elect either method of optional retirement.

    (f)

    Any regular member of either the 1967 Police Pension Fund of Danbury of the 1983 Police Pension Fund of Danbury who shall be separated from service with the Police Department after completing fifteen (15) years of active aggregate service and before reaching the age of sixty-five (65) shall be entitled to the retirement benefits provided for in subsection (b) of this section upon reaching that age.

(Code 1961, § 14-54; Ord. No. 432, 1-7-1992; Ord. No. 663, 5-1-2007)