A. Each member who attains the age of sixty-two years and has twenty years of service, shall be retired on the first day of the calendar month next succeeding that in which the age is attained.

B. Any member may retire upon written application to the retirement board, stating on what date he desires to be retired, if the member has been credited, at the time so specified for his retirement with twenty years of service and has attained the age of fifty-five years. (Prior code § 5.38.120)