§ 2.12. Normal retirement benefit.

A member of Division A shall, upon retirement on his normal retirement date, receive a monthly normal retirement benefit which shall be payable on his normal retirement date and on the first day of each month thereafter during his lifetime, computed as of his normal retirement date as one-twelfth ( 1/12 ) of the product of (a) and (b):

(a)

Credited service.

(b)

Seventy-five one-hundredths percent (0.75%) of average base earnings, plus one and fifty one-hundredths percent (1.50%) of average excess earnings.

Notwithstanding anything in this Act to the contrary, no amendment of this Act shall have the effect of changing either the ratio of the contribution rate applicable to base earnings (as provided in Section 2.09) and the benefit rate applicable to average base earnings (as provided in this Section), or the ratio of the contribution rate applicable to excess earnings (as provided in Section 2.09) and the benefit rate applicable to average excess earnings (as provided in this section).