(1) A member's employer shall determine the compulsory separation age for its employees.
(2) Upon his or her separation from his or her last covered employment, a member with five (5) or more years of credited service in force who has attained his or her normal retirement age shall receive an annuity provided for in § 24-10-602 and shall have the right to elect an option provided for in § 24-10-603.
(3) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual credited service in order to be eligible under this section.