§ 49-11-1307. Phased retirement -- Adjustments or termination.

(1) The Legislature may make adjustments to or terminate the phased retirement option created under this part, including: (a) amending phased retirement eligibility, restrictions, scope, or duration provisions; (b) closing phased retirement to additional retirees; or (c) terminating phased retirement for all participating retirees. (2) A participating employer and retiree enter into a phased retirement agreement subject to the adjustments or termination reserved in this section.