Altus |
Code of Ordinances |
CODE OF ORDINANCES |
Chapter 22. PENSIONS AND RETIREMENT |
Article IV. POLICE PENSIONS |
Division 1. GENERALLY |
§ 22-81. Same—Amount.
The amount of a disability allowance or pension paid a police officer or the officer's surviving spouse, child or children, after the police officer completes fifteen (15) years of service under this article and who becomes disabled or dies from any cause, shall be an amount equal to one-twentieth of the amount of the pension the police officer would have received upon regular retirement for each year or fraction thereof for twenty (20) years, which the police officer had served under the provisions of this article prior to disability or death, plus two and one-half (2½) percent of the average annual compensation for each additional year's service in excess of twenty (20) years, not to exceed in any event three-fourths of the average monthly compensation of such police officer during the last thirty (30) months.
(Ord. No. 742, § 19, 12-20-65)
State law reference
Similar provisions, 11 O.S. Supp. 1978, § 50-115.