| (1) The amount arrived at under subsection 1 is reduced by | applying to that amount the percentage that a life | annuity due at age 55 bears to the life annuity due at | the age of retirement; and |
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| (2) For the purpose of making the computation under | subparagraph (1), the board-approved tables of | annuities in effect at the date of the member's | retirement is used. |
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| This paragraph applies to members who, on July 1, 1993, have | 10 years of creditable service. For the purpose of | calculating creditable service under this subsection only, | creditable service includes time during which a member | participated in the voluntary cost savings cost-savings plan | or the voluntary employee incentive program, authorized by | Public Law 1989, chapter 702, Part F, section F-6 6 and | Public Law 1991, chapter 591, Part BB and chapter 780, Part | VV, or 10 years of combined creditable service under this | Part and former Title 3, chapter 29, or creditable service | available to a member that the member was eligible to | purchase on June 30, 1993 and that the member does purchase | in accordance with rules adopted by the board. |
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| | Sec. 11. 5 MRSA §17852, sub-§5-B, ķA, as enacted by PL 1995, c. 624, | §6, is amended to read: |
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| A. For members with 10 years of creditable service on July | 1, 1993, the retirement benefit is determined in accordance | with subsection 1, except that: |
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| (1) The amount arrived at under subsection 1 is reduced by | applying to that amount the percentage that a life | annuity due at 55 years of age bears to the life | annuity due at the age of retirement; and |
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| (2) For the purpose of making the computation under | subparagraph (1), the board-approved tables of | annuities in effect at the date of the member's | retirement are used. |
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| For the purpose of calculating creditable service under this | subsection only, "creditable service" includes time during which | a member participated in the voluntary cost-savings plan or the | voluntary employee incentive program, authorized by Public Law | 1989, chapter 702, Part F, section 6 and Public Law 1991, chapter | 591, Part BB and chapter 780, Part VV; or 10 years of combined | creditable service under this Part and former Title 3, chapter | 29; or creditable service available to a member that the member | was eligible to |
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