New Retirement Factor Computation for Safety Sample Clauses

New Retirement Factor Computation for Safety. Members hired on or after January 1, 2012, as Fire Fighters of the City Fire-Rescue Department. A Safety Member, who is employed as a Fire Fighter of the City Fire-Rescue Department and is hired by City on or after January 1, 2012, will have a Retirement Calculation Factor of three percent when the Safety Member reaches the age of fifty-five years with at least ten years of Creditable Service. A Safety Member who is employed as a firefighter of the City Fire-Rescue Department and is hired by City on or after January 1, 2012, will have the option to retire at the age of fifty years after twenty years of Creditable Service with a proportionately reduced Unmodified Service Retirement Allowance, as follows: Retirement Calculation Factor is 2.5 percent at age fifty; 2.6 percent at age fifty-one;