19-20-804 . Allowance for service retirement -- professional retirement option allowance -- creditable service limitation. (1) Upon termination, a tier one or tier two member who qualifies for benefits pursuant to 19-20-801 (1) or (2) must receive a retirement allowance equal to one-sixtieth of the member's average final compensation, as limited by 19-20-715 , multiplied by the sum of the number of years of creditable service. (2) (a) Upon termination, a tier two member who qualifies for benefits pursuant to 19-20-801 (3) must receive a professional retirement option allowance equal to 1.85% of the member's final average compensation, as limited by 19-20-715 , multiplied by the sum of the member's years of creditable service. (b) For the purpose of calculating the professional retirement option, creditable service does not include: (i) service credited before the member became a tier two member even if the member redeposits the member's withdrawn contributions pursuant to 19-20-427 ; or (ii) service credit transferred under 19-20-409 .
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