§ 16.70-3. RETIREMENT AFTER 3/31/66 UNDER PARAGRAPH (b) OF SECTION 16.70-1.

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The service retirement allowance of any member who retires for service effective on or after March 31, 1966, as a member entitled to a service retirement allowance calculated according to the provisions of Paragraph (b) of Section 16.70-1 of this Code shall be a service retirement allowance at the rate of 1 percent of the average monthly compensation earned by him during any three consecutive years of credited service in the Retirement System in which such average is the highest for each year of service credited to him in the Retirement System, and such allowance shall be in lieu of the service retirement allowance to which he would be entitled under the provisions of said Paragraph (b) of Section 16.70-1.
This Section is not applicable to any person whose retirement allowance was first effective prior to March 31, 1966. This Section does not give any member or the beneficiary of any member, or his successors in interest, any claim against the City and County for an increase in any retirement allowance payable to or on account of any member whose retirement allowance was first effective prior to March 31, 1966.
(Added by Ord. 74-66, App. 4/8/66)

                    
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