Any employee retiring after the effective date of this act who has 25 years of service and who has attained 55 years of age, shall be entitled, in addition to a pension at 50% of final salary, to an added 1% of his average salary for each year in excess of 25 years of service rendered prior to his reaching age 70.

L.1975, c. 230, s. 5, eff. Oct. 16, 1975. Amended by L.1978, c. 127, s. 9.