(1) A member is qualified to receive an allowance when: (a) the member ceases actual work for every participating employer that employs the member before the member's retirement date and provides evidence of the termination; (b) the member has submitted to the office a retirement application form that states the member's proposed retirement date; and (c) one of the following conditions is met as of the member's retirement date: (i) the member has accrued at least six years of service credit and has attained an age of 70 years; (ii) the member has accrued at least 10 years of service credit and has attained an age of 62 years; (iii) the member has accrued at least 20 years of service credit and has attained an age of 55 years; or (iv) the member has accrued at least 25 years of service credit.

(a) the member ceases actual work for every participating employer that employs the member before the member's retirement date and provides evidence of the termination;

(b) the member has submitted to the office a retirement application form that states the member's proposed retirement date; and

(c) one of the following conditions is met as of the member's retirement date: (i) the member has accrued at least six years of service credit and has attained an age of 70 years; (ii) the member has accrued at least 10 years of service credit and has attained an age of 62 years; (iii) the member has accrued at least 20 years of service credit and has attained an age of 55 years; or (iv) the member has accrued at least 25 years of service credit.

(i) the member has accrued at least six years of service credit and has attained an age of 70 years;

(ii) the member has accrued at least 10 years of service credit and has attained an age of 62 years;

(iii) the member has accrued at least 20 years of service credit and has attained an age of 55 years; or

(iv) the member has accrued at least 25 years of service credit.

(2) (a) The member's retirement date: (i) shall be the 1st or the 16th day of the month, as selected by the member; (ii) shall be on or after the date of termination; and (iii) may not be more than 90 days before or after the date the application is received by the office. (b) A member may not be employed by a participating employer in the system established by this chapter on the retirement date selected under Subsection (2)(a)(i).

(a) The member's retirement date: (i) shall be the 1st or the 16th day of the month, as selected by the member; (ii) shall be on or after the date of termination; and (iii) may not be more than 90 days before or after the date the application is received by the office.

(i) shall be the 1st or the 16th day of the month, as selected by the member;

(ii) shall be on or after the date of termination; and

(iii) may not be more than 90 days before or after the date the application is received by the office.

(b) A member may not be employed by a participating employer in the system established by this chapter on the retirement date selected under Subsection (2)(a)(i).