(1) Any member who has at least five years of credited service and who has attained age fifty-five or any member who has at least twenty-five years of credited service or any member who has at least ten years of credited service, which includes service as a judge before July 1, 1999, an elective officer, or a legislative officer, may retire upon written application to the board specifying on what date, not less than thirty days nor more than ninety days subsequent to the execution and filing thereof, the member desires to be retired. In the event of the death of a member after the date of the filing of the member's written application to retire, the designated beneficiary, otherwise the personal representative of the member's estate, shall receive the allowance under the option selected by the member which would have been payable had the member retired, and the benefits paid to the beneficiary or representative shall be computed as though the member had died on or after the effective date of the member's retirement;

(2) Any member who first earned credited service as a judge after June 30, 1999, may retire upon written application to the board specifying on what date, not less than thirty days nor more than ninety days subsequent to the execution and filing thereof, the member desires to be retired; provided that the member has at least five years of credited service and has attained age fifty-five or has at least twenty-five years of credited service. In the event of the death of a member after the date of the filing of the member's written application to retire, the designated beneficiary, otherwise the personal representative of the member's estate, shall receive the allowance under the option selected by the member which would have been payable had the member retired, and the benefits paid to the beneficiary or representative shall be computed as though the member had died on or after the effective date of the member's retirement;

(3) Any member of the legislature who attains age sixty-five may retire and receive a service retirement allowance although the member continues to fill the elective position;

(4) For the purpose of computing or determining benefits for an elective officer or judge, or any beneficiary of either, the date upon which the elective officer or judge elected to retire, as provided by section 88-61(c), after attaining an allowance of seventy-five per cent of average final compensation, shall be used as the effective date of retirement; provided that the elective officer or judge may continue in active service, but shall not receive a retirement allowance until termination of active service; provided further that upon leaving active service the elective officer or judge shall receive the retirement allowance provided for in section 88-74, together with the post retirement allowances provided for in section 88-90, which post retirement allowances shall be computed from the date of the election as though the elective officer or judge had left active service on that day; and

(5) In the case of a class A or B member who also has prior credited service under part VII, total credited service as a class A, class B, and class C member shall be used to determine the eligibility for retirement allowance. [L 1925, c 55, §6(1); RL 1935, pt of §7925; RL 1945, §708, subs 1; am L 1947, c 85, §1(c); RL 1955, §6-41; am L 1957, c 24, §1 and c 231, §1(b); am L 1959, c 67, §1; am L 1961, c 175, §1; am L 1963, c 127, §3; am L 1964, c 62, §4; HRS §88-63; am L 1969, c 110, pt of §1; am L 1971, c 90, §2; am L 1975, c 199, §1; am L 1982, c 115, §2; am L 1984, c 85, §2; am L 1987, c 117, §1; am L 1991, c 96, §1(2); am L 1998, c 151, §5; am L 1999, c 65, §2]