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Session Laws, 1941
Volume 582, Page 591   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 591

together with his annuity, equals the amount of his average
final compensation. A beneficiary restored to active service
at a salary less than the average final compensation upon
the basis of which he was retired shall not become a member
of the retirement system until his salary is at least equal to
such average final compensation. For the purposes of this
paragraph, "retirement allowance" shall mean the allowance
payable without optional modification as hereinafter pro-
vided in Sub-section (10) of this section.

(b) Should a disability beneficiary under the age of 65
be restored to active service and should his annual compen-
sation then or at any time prior to the age of 65 be equal to
or greater than his average final compensation at retire-
ment, his retirement allowance shall cease, he shall again
become a member of the Retirement System, and he shall
contribute thereafter at the same rate he paid prior to dis-
ability. Any thing in this Article to the contrary notwith-
standing, any prior service certificate on the basis of which
his service was computed at the time of his retirement shall
be restored to full force and effect, and in addition, upon his
subsequent retirement he shall be credited with all the serv-
ice as a member creditable to him at the time of retirement;
but should he be restored to membership after the attain-
ment of age of 55, his pension upon subsequent retirement
shall not exceed the pension which he was receiving imme-
diately prior to his last restoration to membership and the
pension that may have accrued to him as a new member on
account of service since his last restoration to membership,
provided that the total pension on his subsequent retirement
shall not exceed the rate per centum he would have received
had he remained in service during the period of his prior re-
tirement.

DEATH BENEFIT.

(8) Upon the receipt of proper proofs of the death of a
member in service there shall be paid to such person having an
insurable interest in the life of the deceased, as he shall have
nominated by written designation duly executed and filed with
the Board of Trustees, otherwise to his estate:

(a) His accumulated contributions; and

(b) If the member has one or more years of creditable
service, an amount equal to fifty per centum of his average
final compensation.

RETURN OF ACCUMULATED CONTRIBUTIONS.

(9) Should a member cease to be an employee except by
death or by retirement under the provisions of this Article,
he shall be paid the amount of his accumulated contributions.

 

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Session Laws, 1941
Volume 582, Page 591   View pdf image (33K)   << PREVIOUS  NEXT >>


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