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Session Laws, 2002
Volume 800, Page 6088   View pdf image
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Resolution
20. Transfer of credit.
(a) In general. Except as provided in subsection (b) of this section, creditable service earned
as a member of the Legislative Pension Plan qualifies for benefits under the Legislative Pension Plan
and no other system or plan administered by the Board of Trustees. (b) Exception. Prior to retirement, a member may elect to transfer creditable service in the
Legislative Pension Plan and the member's accumulated contributions to the State system in which
the member participates, if the member: (1) Has less than 8 years of creditable service in the Legislative Pension Plan; or (2) Earned the creditable service for years of service in the Legislative Pension Plan
if any of the years of service occurred on or before January 8,1975. (c) Effect of transfer of creditable service. A member who is eligible to transfer creditable
service to another State system and who makes the election to transfer shall withdraw the member's
accumulated contributions. 21. Miscellaneous Provisions. (a) Receipt of retirement allowance from another State system. A retiree who is receiving a
retirement allowance from another State system may receive a retirement allowance from the
Legislative Pension Plan if the years of service in the Legislative Pension Plan do not overlap with
the years of service in the State system. (b) Average final compensation. As of January 8, 1975, the annual salary payable to a
member while serving as a legislator may not be added to the earnable compensation payable by the
State or a political subdivision of the State to determine the member's average final compensation
in a State system in which the member participates. (c) Applicability. Except as otherwise provided herein, this Item 3A (including the
calculation for the retirement allowance and the survivor's allowance) applies to: (1) A legislator who elects to join the pension plan during the legislator's term of office; (2) A former legislator who: (a) elected to join the Legislative Pension Plan during the legislator's term of office;
(b) has not withdrawn the member's accumulated contributions; and
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Session Laws, 2002
Volume 800, Page 6088   View pdf image
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