25
I
(
The benefit is provided by the com
bined contributions of' the member and
the state. The pension provided by the
state is reduced by any workmen’s com
pensation payments payable on account
of the same disability.
The disability retirement allowance
is made up as follows:
of his regular allowance. Under the pro
visions for optional forms of benefit
the member may elect to receive a
smaller allowance during his own life
and provide for his dependent by con
verting his regular retirement allow
ance into one of the following optional
forms:
1. The annunity provided by the mem
ber’s own contributions, with interest at re
tirement, and
2. A pension provided by the State equal
to 9 / l 0 of l / l 4 0 of the average final
compensation, multiplied by the number of
years of service as a member not in excess
of 31 years, and
3. If the member has credit for prior
service, an additional pension provided by
the State, equal to 9/10 of l / 7 0 of his
average final compensation, multiplied by the
number of years of service rendered prior to
the establishment of the system for which
he receives credit.
Opinion 1. A reduced retirement allow
ance with the provision that on his death
the excess of his accumulated contributions
at the time of retirement over any annunity
payments made to him from his own con
tributions shall be returned to his estate or
his beneficiary, or
Death Benefits
If a member should die before re
tirement, his contributions with simple
interest at two per cent, will be paid
to his estate or beneficiary, regardless
of the member’s length of service.
Withdrawal Benefits
If a member leaves the service for
any reason whatsoever, other than, death
or retirement, his entire contributions,
with simple interest at two per cent,
are returned to him.
Special Privileges Upon Retirement
The retirement allowances payable
upon disability retirement or service
retirement are payable only so long as
the -retired member lives, and no bene
fit is payable at the time of the mem
ber’s death, unless the member when
he retires elects one of the optional
forms of retirement allowance in lieu
COONS
TOP HAT
Option 2. A reduced retirement allowance
with the provision that such reduced allow
ance shall be continued throughout the life
of a beneficiary nominated at the time of
his retirement, or
Option 3. A reduced retirement allow
ance with the provision that one-half of
such reduced allowance shall be continued
(Continued on page 44)
p a tie n ts !
★ I f there is a service in
w hich speed is essential it is
t h e c o m p o u n d in g o f p r e
scriptions. T h ere is only one
th in g th a t tra n s c e n d s i t —
precision'. W hile im perative
prescriptions are still given
r ig h t - o f - w a y , t h o s e le s s
pressing may require a little
m ore time. Yes, frankly, w e’re
short-handed. A nd w ho isn ’t
these days? Be assured we
w o n ’t k e e p y o u w a i t i n g
lo n g er than necessary. A nd
th a n k s fo r y o u r p a tie n c e .
WILLETT’S CAPITAL
DRUG STORE
405 S tate St., a t L ib erty
For Fine Food
1275 S ta te S t. - S a le m
PRESCRIPTIONS