(a)

(1) Any judge of a municipal court or county municipal court prior to January 1, 1995, to which this subchapter applies who shall attain age fifty (50) and who shall have served at least sixteen (16) years in office as municipal judge, or at least sixteen (16) years combined service as municipal judge and deputy prosecuting attorney, shall be eligible to receive retirement benefits provided by this subchapter.

(2) If the judge resigns, retires from office, or is succeeded in office by another judge, then he or she shall receive retirement pay for and during the remainder of his or her natural life in an amount equal to one-half (1/2) of the salary payable to him or her at the time of his or her resignation, retirement, or succession in office.

(3) Any county municipal judge who retires under this subchapter effective before January 1, 1995, shall be entitled to continue to participate in and be covered by the county health insurance program.

(b)

(1) On and after January 1, 1995, any judge of a county municipal court to which this subchapter applies who shall attain age sixty-five (65) and who shall have served at least ten (10) years in office as municipal judge, or who shall have served at least twenty (20) years in office as municipal judge, whatever his or her age, shall be eligible to receive retirement benefits provided by this subchapter.

(2) If the judge resigns, retires from office, or is succeeded in office by another judge, then he or she shall receive retirement pay for and during the remainder of his or her natural life in an amount equal to one-half (1/2) of the salary payable to him or her at the time of his or her resignation, retirement, or succession in office.