Any vested foundation member can retire in the ten years preceding the member's normal retirement age and the retirement benefit shall be reduced by the lesser of the following: (1) One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's normal retirement age; or (2) One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's reduction age.
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