(1) Any Option I firefighter, as provided in section 72-1434, Idaho Code, who has had the contributions remitted as provided in sections 72-1431 and 72-1432, Idaho Code, for the same number of years as he claims for service as a paid firefighter in Idaho, may at his option retire, and upon retirement shall be paid from the public employee retirement account a monthly sum during the remainder of his life equal to:
(a)  after twenty (20) years of service and contributions, forty percent (40%) of the average paid firefighter’s salary or wage; or
(b)  after twenty-one (21) years of service and contributions, forty-five percent (45%) of the average paid firefighter’s salary or wage; or
(c)  after twenty-two (22) years of service and contributions, fifty percent (50%) of the average paid firefighter’s salary or wage; or
(d)  after twenty-three (23) years of service and contributions, fifty-five percent (55%) of the average paid firefighter’s salary or wage; or
(e)  after twenty-four (24) years of service and contributions, sixty percent (60%) of the average paid firefighter’s salary or wage; or
(f)  after twenty-five (25) years of service and contributions, sixty-five percent (65%) of the average paid firefighter’s salary or wage.
All benefit payments to Option I firefighters shall be based on the average paid firefighter’s salary or wage in this state as defined in section 72-1431, Idaho Code. Option I monthly benefit payments shall vary annually according to the determination of the cost of living adjustment as set forth in section 72-1471, Idaho Code.

Terms Used In Idaho Code 72-1435

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(2)  Any Option II firefighter, as provided in section 72-1434, Idaho Code, who has had the contributions remitted as provided in sections 72-1431 and 72-1432, Idaho Code, for the same number of years as he claims for service as a paid firefighter in Idaho, may at his option retire, and upon retirement shall be paid from the public employee retirement account a monthly sum during the remainder of his life equal to:
(a)  after twenty (20) years of service and contributions, forty percent (40%) of his average salary or wage; or
(b)  after twenty-one (21) years of service and contributions, forty-five percent (45%) of his average salary or wage; or
(c)  after twenty-two (22) years of service and contributions, fifty percent (50%) of his average salary or wage; or
(d)  after twenty-three (23) years of service and contributions, fifty-five percent (55%) of his average salary or wage; or
(e)  after twenty-four (24) years of service and contributions, sixty percent (60%) of his average salary or wage; or
(f)  after twenty-five (25) years of service and contributions, sixty-five percent (65%) of his average salary or wage.
All benefit payments to Option II firefighters shall be based on his average final compensation as defined in section 72-1404, Idaho Code. Option II monthly benefit payments shall vary annually according to the determination of the cost of living adjustment as set forth in section 72-1471, Idaho Code.