Any member of a police department who has completed twenty years of service in the department and attained the age of fifty years may retire and receive the pension and benefits provided in this section. Upon retirement, a member shall receive a retirement allowance, payable to the member for life, equal to fifty percent of the member's annual salary, computed on the basis of the last three years of service and an additional amount equal to two percent of the member's salary for each year of service after the age of fifty and after twenty years of service in the department.
1940, p. 738; Michie Code 1942, § 3035i; Code 1950, § 51-120; 1990, c. 832.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 8 - Local Retirement Systems
§ 51.1-801. Counties, cities, and towns generally
§ 51.1-802. Assets of retirement systems; exemption from taxation; execution and assignment
§ 51.1-803. Investments of retirement systems
§ 51.1-805. In certain counties
§ 51.1-807. Police officers' pension and retirement boards
§ 51.1-808. Powers, authority, and duties of board
§ 51.1-809. Treasurer of board
§ 51.1-810. Time credited to service record
§ 51.1-811. Eligibility for retirement; retirement allowance
§ 51.1-812. Disability from natural causes not originating in performance of official duties
§ 51.1-813. Disability resulting from activities in discharge of official duties
§ 51.1-814. Employing such presumption in determining eligibility for benefits
§ 51.1-816. Reduction of pension and benefits where income earned during disability retirement
§ 51.1-817. Salary deductions payable to estate or refunded
§ 51.1-818. Funds for payment of pensions and benefits
§ 51.1-819. Adoption of article optional by counties, cities, and towns; appeal
§ 51.1-820. Police officers' pensions and retirements
§ 51.1-821. Police Retirement System
§ 51.1-822. Amendment, suspension, or revocation of retirement plan and trust