2006 Utah Code - 49-16-402 — Calculation of retirement allowance.

     49-16-402.   Calculation of retirement allowance.
     (1) A retiree under this system shall receive an allowance equal to:
     (a) 2.5% of final average monthly salary multiplied by the number of years of service credit, limited to 20 years; plus
     (b) 2% of final average monthly salary, multiplied by the number of years of service credit in excess of 20 years.
     (2) The minimum allowance payable under this section is $500.
     (3) Except as modified by cost-of-living adjustments, an allowance under this system may not exceed 70% of a firefighter service employee's final average monthly salary.

Amended by Chapter 240, 2003 General Session