2013 Idaho Statutes
Title 72 - WORKER'S COMPENSATION AND RELATED LAWS -- INDUSTRIAL COMMISSION
Chapter 14 - FIREMEN'S RETIREMENT FUND
Section 72-1434 - OPTIONAL PENSION AMOUNTS -- OPTION I AND OPTION II.
(1) OPTION I -- On or after July 1, 1976, any employed paid firefighter, as defined in subsection (A) of section 72-1403, Idaho Code, electing this option or failing to nominate an option, after payment of the contribution, as set forth in section 72-1431, Idaho Code, and after completion of years active service, as defined in subsection (H) of section 72-1403, Idaho Code, may at his or her option retire, and in the event of such retirement said firefighter shall be paid from the public employee retirement account a monthly sum during the remainder of his life equal to the percentage of the average paid firefighter's salary or wage in this state, as defined in section 72-1431, Idaho Code, and that said firefighter is entitled to under the provisions of this chapter, which said monthly sum shall vary annually, according to the determination of the cost of living adjustment as set forth in section 72-1471, Idaho Code.
(2) OPTION II -- On or after October 1, l979, any paid firefighter, as defined in subsection (A) of section 72-1403, Idaho Code, who elected Option II, or who was employed after July 1, 1976, after payment of the contribution, as set forth in section 72-1431, Idaho Code, and after completion of years active service, as defined in section 72-1403(H), Idaho Code, may at his or her option retire, and in the event of such retirement he or she shall be paid from the public employee retirement account a monthly sum during the remainder of his or her life equal to the percentage of said firefighter's average monthly salary or wage, as defined in section 72-1431, Idaho Code, that said firefighter is entitled to under the provisions as set forth in this chapter, based on his or her "average final compensation," as defined in section 72-1404, Idaho Code, which said monthly sum shall vary annually according to the determination of the cost of living adjustment as set forth in section 72-1471, Idaho Code.
History:
[(72-1434) 1976, ch. 273, sec. 21, p. 940; am. 1980, ch. 50, sec. 35, p. 99; 1990, am. and redesignated, ch. 231, sec. 89; p. 653; am. 2001, ch. 327, sec. 1, p. 1153.]
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