§ 3.10. Normal retirement benefit.

A member of Division B 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 and which shall be equal to one-twelfth ( 1/12 ) of fifty percent (50%) of his credited earnings; provided, however, that if the member of Division B has not contributed to the fund as of his normal retirement date for twenty-four (24) full years, he shall contribute to the fund in accordance with the applicable contribution rate of a retired member as set forth in Section 3.07, and he shall contribute such amount during his lifetime or until he has made contributions to the fund before and after retirement for twenty-four (24) full years, whichever is the shorter period of time.