Section 8-36-306 - Alternative early retirement(a) Any member in Group 1 shall be eligible for a retirement benefit upon completion of twenty-five (25) years of creditable service.(b) If the member is less than fifty-five (55) years of age, such benefit shall be the actuarial equivalent of the retirement benefit which would be payable to the member at fifty-five (55) years of age.(c) This section shall be optional for political subdivisions participating under chapter 35 of this title.Acts 1983, ch. 308, § 1; T.C.A., § 8-36-201.