Retirement: [Members Who Joined Prior to October 1, 1981]

With respect to any member who joined the Fund on or after October 1, 1981:

(a)He or she may retire on a service retirement annuity, upon written application to and approval by the Board; provided that such member shall have attained at least sixty

(60)years of age or fiftyfive

(55)years of age in the case of a member of the uniformed personnel and shall have completed at least fifteen

(15)years of total service;

(b)If he or she is a member of the uniformed personnel, he or she shall, upon retirement, be placed one rank grade above that held by him on the date of retirement;

(c)If he or she has completed thirty

(30)years of service, he or she may retire and shall be entitled to full retirement annuity;

(d)At his option, whether active or inactive, he or she may retire after twenty-five

(25)years of service regardless of age. The retirement annuity for any employee or member described in this Paragraph shall be reduced one quarter (¼) of one percent (1%) for each month such employee or member is under the age of sixty

(60)years, from the amount determined for such employee or member as hereinafter provided.