16-1008.

Retirement options; retirement date.

(1) A police officer of a city may:

(a) Elect to retire and receive the applicable pension benefit provided in section 16-1007 based on such police officer's full retirement value upon the attainment of age sixty;

(b) Elect to take early retirement and receive the applicable pension benefit provided in section 16-1007 if such police officer has attained the age of fifty-five and has completed twenty-five years of service with the city; or

(c) Retire as a result of disability while in the line of duty, as determined under section 16-1011, at any age, and receive the applicable pension benefit provided in section 16-1011.

(2) A police officer, who is eligible to retire pursuant to subsection (1) of this section but does not retire, shall continue to contribute to such police officer's employee account, and the city shall continue to contribute to such police officer's employee account and to such police officer's employer account.

(3) The first day of the month that immediately follows the last day of work shall be the retirement date.