CHAPTER 647

An Act to amend and reenact § 51-151, as amended, of the Code of Vir-
ginta, relating to service retirement allowances under the State Police
Officers Retirement Act.

[S 251]

Approved April 5, 1968

Be it enacted by the General Assembly of Virginia:

1. That § 51-151, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 51-151. Service retirement allowance.—(a) Upon retirement as
provided in § 51-150, on or after July one, nineteen hundred and sixty-
six; a member shall receive an annual retirement allowance, payable
monthly to him for life, subject to the provisions of subsection (e) of
this section, determined in accordance with paragraph (1) or (2), which-
ever is applicable:

(1) Normal retirement under § 51-150 (a).—An amount equal to
one and three eighths per centum of his average final compensation
multiplied by his number of years of creditable service subject, however,
to the provisions of subsections (b) and (c) of this section.

(2) Early retirement under § 51-150 (b).—An amount which shall
be determined in the same manner as for retirement at his normal retire-
ment date with years of creditable service and average final compensa-
tion being determined as of the date of his actual retirement, and the
amount of the retirement allowance so determined being reduced on an
actuarial equivalent basis for the period that the actual retirement date
precedes the normal retirement date subject, however, to the provisions
of subsections (b) and (c) of this section; provided further that the
retirement allowance of a member retiring on or after his fifty-fifth birth-
day and with at least thirty years of creditable service shall not be so
reduced.

(b) In addition to the allowance payable under subsection (a) of
this section, a member shall receive an additional annual allowance, pay-
able monthly, for each month after his fifty-fifth birthday and prior to
his sixty-fifth birthday, equal to one thousand six hundred twenty dollars;
provided, however, that this subsection shall not apply to any member
who qualifies for retirement under subsection (c) of § 51-150 and is
credited with less than twenty years service.

(c) Subject to the provisions of subsection (d) of this section, the
retirement allowance payable under this section to any member who was
in service on June thirty, nineteen hundred and sixty-six shall, prior to
his sixty-fifth birthday, be not less, in the case of a member who retires
on or after his normal retirement date, than an amount equal to two per
centum of the sum of the member’s average final compensation and twelve
hundred dollars multiplied by his years of creditable service not in excess
of twenty-five years or, in the case of a member who retires prior to his
normal retirement date, than an amount similarly determined but re-
duced on an actuarial equivalent basis for the period by which the actual
retirement date precedes the normal retirement date, nor after his sixty-
fifth birthday shall it be less than the excess, if any, of such amount
over the annual primary social security benefits under the federal Social
Security Act to which he became entitled at his sixty-fifth birthday, or
to which he would have become entitled at such birthday except for having
elected to have his social security benefits commence at an earlier date.

(d) For the purposes of subsection (c), the retirement allowance
shall be determined on the assumption that it is payable to the member
alone and that no optional form of retirement allowance as provided in
§ 51-111.60 is elected. If a beneficiary does not qualify for, or loses,
primary social security benefits to which he is entitled under the federal
Social Security Act because of his failure to make application therefor,
entering into covered employment, or otherwise, such primary social
security benefits shal] nevertheless be considered as being received by such
beneficiary for the purposes of subsection (c).

(e) Should a beneficiary of a service retirement allowance under
this chapter be at any time in service as an employee in a position covered
for retirement purposes under the provisions of this or any chapter other
than chapter 3.1 (§ 51-111.1 et seq.) of this title, if the State contributes
any of the employer costs, his retirement allowance shall cease while so
employed.

(f) In the case of any member retired prior to July one, nineteen
hundred and sixty-six, for service, the retirement allowance payable on
or after July one, nineteen hundred and sixty-six shall be equal to the
larger of an amount or amounts computed in accordance with the preced-
ing subsections of this section and the amount or amounts of the allowance
that would have been payable except for the provisions of this subsection.