Del. Code 29, § 5522 : State Government — State Employees' Pension Plan — Eligibility Requirements And Benefits — [Effective upon fulfillment of 78 Del Laws, c 318, section 4]Eligibility for service pension

Current through 2015 Legislative Session, Act Chapter 31

(a) An employee shall become eligible to receive a service pension, beginning with the month after the employee has terminated employment, if:

(1) The employee has 5 years of credited service, exclusive of service credited under § 5501(e)(4), (5) and (12) of this title, and has attained age 62;

(2) The employee has 15 years of credited service, exclusive of service credited under § 5501(e)(4), (5) and (12) of this title, and has attained age 60;

(3) The employee has 30 years of credited service;

(4) The employee has 25 years of credited service, exclusive of service credited under § 5501(e)(4), (5) and (12) of this title, regardless of age;

(5) The employee has 25 years of credited service, exclusive of service credited under § 5501(e)(4), (5) and (12) of this title, regardless of age, and is a corrections officer; or

(6)

[Subsection (6) Effective Upon Fulfillment of 79 Del Laws, c 174, section 5]

The employee has 25 years of credited service, exclusive of service credited under § 5501(d)(4), (5) and (12) of this title, regardless of age, and is a Correction Officer. The employee must have 20 years of credited service as a Correction Officer.

(b) A former employee with a vested right to a service pension shall become eligible to receive such pension, computed in accordance with this chapter beginning with the first month after his or her attainment of:

(1) Age 60 if credited service is equal to or greater than 20 years and includes service prior to July 1, 1976; or

(2) Age 62 if credited service is equal to or greater than 5 years.

(c) An employee shall become eligible to receive a reduced service pension, beginning with the month after he or she has terminated employment, if he or she has 15 years of credited service, exclusive of service credited under § 5501(e)(4), (5) and (12) of this title, and has attained age 55; the amount of the service pension payable to such an employee shall be reduced by 2/10 percent of each month the employee is under age 60.

(d) The amount of the service pension payable to an employee who becomes eligible to receive a service pension pursuant to paragraph (4) of subsection (a) of this section shall be reduced by 2/10 percent for each month of credited service the employee has less than 30 years.

(e) A post-2011 employee shall become eligible to receive a service pension, beginning with the month after the employee has terminated employment, if:

(1) The employee has 10 years of credited service, exclusive of service credited under § 5501(e)(12) of this title, and has attained age 65;

(2) The employee has 20 years of credited service, exclusive of service credited under § 5501(e)(12) of this title, and has attained age 60; or

(3) The employee has 30 years of credited service.

(f) A post-2011 employee shall become eligible to receive a reduced service pension, beginning with the month after he or she has terminated employment, if:

(1) He or she has 15 years of credited service, exclusive of service credited under § 5501(e)(12) of this title, and has attained age 55; the amount of the service pension payable to such an employee shall be reduced by 4/10 percent of each month the employee is under age 60; or

(2) He or she has 25 years of credited service, exclusive of service credited under § 5501(d)(12) of this title, regardless of age; the amount of the service pension payable to such an employee shall be reduced by 4/10 percent of each month the employee has less than 30 years.

(g) A former post-2011 employee with a vested right to a service pension shall become eligible to receive such pension, computed in accordance with this chapter beginning with the first month after his or her attainment of age 65 if credited service is equal to or greater than 10 years.

Del. C. § 5522

Amended by Laws 2013, ch. 174,s 3, eff. .

29 Del. C. 1953, § 5522; 57 Del. Laws, c. 592, § 1; 57 Del. Laws, c. 702; 58 Del. Laws, c. 180, § 3; 60 Del. Laws, c. 483, §§ 15, 16; 62 Del. Laws, c. 392, §§1, 2; 63 Del. Laws, c. 423, §2; 67 Del. Laws, c. 124, §§2, 3; 70 Del. Laws, c. 186, § 1; 70 Del. Laws, c. 524, §§ 7, 10; 72 Del. Laws, c. 253, § 1; 78 Del. Laws, c. 14, § 11; 78 Del. Laws, c. 318, § 3.;