(1) NORMAL RETIREMENT. Any member with at least five service credit years who has attained at least age sixty-five shall be eligible to retire and to receive a retirement allowance computed according to RCW 41.37.190.

(2) UNREDUCED RETIREMENT. Any member who has completed at least ten service credit years in the public safety employees’ retirement system and has attained age sixty shall be eligible to retire and to receive a retirement allowance computed according to RCW 41.37.190.

(3) EARLY RETIREMENT. Any member who has completed at least twenty service credit years and has attained age fifty-three shall be eligible to retire and to receive a retirement allowance computed according to RCW 41.37.190, except that a member retiring pursuant to this subsection shall have the retirement allowance reduced by three percent per year to reflect the difference in the number of years between age at retirement and the attainment of age sixty.