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Reduction for early payment.

New Orleans City Code § 114-128
in effect
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Sec. 114-128. - Reduction for early payment. If a member's retirement allowance commences before he attains age 62, such allowance shall be reduced by three percent for each year by which his retirement date precedes his attainment of such age, provided that no reduction shall be required: A. If the member has at least 30 years of creditable service as of his retirement date; or B. If the member's age and creditable service total at least 80 points as of his separation date. This provision is not applicable for any member who commences employment after January 1, 2018. (M.C.S., Ord. No. 26460, § 2, 6-18-15; M.C.S., Ord. No. 27607, § 1, 12-1-17)
Source: City of New Orleans, Code of Ordinances and Home Rule Charter (Municode Library, library.municode.com)URL: https://library.municode.com/la/new_orleans/codes/code_of_ordinances?nodeId=PTIICO_CH114PE_ARTIIIRESY_DIV5REBE_S114-128REEAPAFetched: 10/28/2026

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114-128 | Corpus