The following qualifications must be met for a member to receive benefits:

• Paid the required monthly dues
• Served as sheriff for at least eight years
• Reached the age of 55
• Terminated capacity as Sheriff
• Filed application for benefits within 90 days after meeting these requirements.

Monthly benefits shall be payable upon approval by the Board of Commissioners based on years of service claimed.  As of July 1, 2007, monthly benefits are based on $115.67 per month, per year of service.  The minimum monthly benefit is $925.36 per month; the maximum monthly benefit is $3,470.10. 

The pension benefits may be increased in the amount of 3% per year without legislative approval, if benefit is actuarially sound.

Three payment options are available.

Option one pays monthly benefits to the member for life with no spousal benefits. 

Example:
Member age 57; Spouse age 55;   12 years of service
Option 1:  $115.67 x 12 = $1,388.04

Option two and three provide for spousal benefits, which are based on a mortality table adopted by the Board, after the death of the member.  Option two and three are payable to the spouse until death or remarriage.

Option two pays reduced monthly benefits to the member for life and allows 100% of the monthly benefits to be paid to the spouse upon member’s death. 

Option two:  full benefit multiplied by a factor based on ages of member and spouse
above example:  $1,388.04 x 0.8437 = $1,171.09.

Option three pays a reduced monthly benefit to the member for life and allows 50% of the monthly benefits to be paid to the spouse upon member’s death.

Option three:  full benefit multiplied by a factor based on ages of  member and spouse (spouse receives ½ of benefit amount)
above example:  $1,388.04 x 0.9152 = $1,270.33 spousal benefit = $635.17.

If Option two or three are chosen and the spouse predeceases the member, the member may request to be adjusted to the benefits offered in option one.  If a member deceases before an option is chosen, option two will be effective.