cont'd 



10 



Pension service, shall be paid, upon retirement, an annual pen- 

 allowances s ion of twenty-five per cent, of his or her average 

 annual salary for the last three years of his or her 

 employment, computed on the basis of his or her con- 

 tributions to the Pension Fund during such three years, 

 with an increase of one per cent, for each additional 

 year of service up to the twenty-fifth year. Such pen- 

 sion shall be paid, however, only for such period as 

 will equal his or her term of service. The minimum 

 pension to be paid to any such subscriber shall be $15 

 per month. 



(c) A male subscribing employee who shall reach 

 the age of sixty-five years, or a female subscribing 

 employee who shall reach the age of sixty years, and 

 shall retire, in either case, after twenty years of con- 

 tinuous service, shall be paid, upon retirement, an 

 annual pension of thirty-three and one-third per cent, 

 of his or her average annual salary for the last three 

 years of his or her employment, computed on the basis 

 of his or her contributions to the Pension Fund during 

 such three years, with an increase of one per cent, for 

 each additional year of service up to the twenty-fifth 

 year. Such pension shall be paid, however, only for 

 such period as will equal his or her term of service. 

 The minimum pension to be paid to any such subscriber 

 shall be $25 per month. 



(d) A male subscribing employee who shall reach 

 the age of sixty years, or a female subscribing em- 

 ployee who shall reach the age of fifty-five years, and 

 shall retire, in either case, after twenty-five years of 

 continuous service, shall be paid, upon retirement, an 

 annual pension of thirty-three and one-third per cent, 

 of his or her average annual salary for the last three 

 years of his or her employment, computed on the basis 

 of his or her contributions to the Pension Fund during 

 such three years, with an increase of one per cent, for 

 each additional year of service up to the thirtieth year. 

 Such pension shall be paid, however, only for such 



