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Session Laws, 1972
Volume 708, Page 2620   View pdf image
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2620                        County Local Laws

tributions under this section, and shall also include all or part of such
service rendered prior to his commencement of contributions hereun-
der but not prior to July 1, 1971 provided he has contributed all
amounts (with interest thereon) he was eligible to contribute hereun-
der with respect to such service within a period of six months from
July 1, 1971. Service rendered prior to July 1, 1971 shall also be cred-
ited provided he was a member of the retirement system on July 1,
1971 and contributed all amounts he was eligible to contribute there-
after with respect to his service on the County Council and provided
that the member makes up the contributions (with interest thereon to
date of payment) which he would have made had he been a member
of the retirement system during such service.

(b)    Service Retirement Allowance. Any such member who has
completed sixteen years of service or has attained the age of fifty-five
and has completed four years of service may retire and receive a retire-
ment allowance which shall be equal to one-twentieth of his average
final compensation multiplied by the number of years of his service
not in excess of twenty years.

(c)   Deferred Service Retirement Allowance. Any such mem-
ber whose service is terminated after four years of service prior
to the attainment of age fifty-five may, in lieu of the withdrawal of
his accumulated contributions, elect to receive a service retirement al-
lowance deferred to commence at age fifty-five and computed on the
basis of his years of service and earnable compensation to the date of
his termination.

(d)  Death Benefit.

(1)   Upon the death of any such member in service there shall
be paid to such person as he shall have nominated, otherwise to his es-
tate, a lump sum amount equal to his accumulated contributions on
the date of his death, plus, if the member has one or more years of
service on the date of his death, an amount equal to fifty per cent of
the annual earnable compensation of the member at the date of his
death.

(2)  Upon the death of any such member in service who has met
the eligibility requirements for a service retirement allowance and
who has not nominated a beneficiary other than his spouse, there
shall be paid to the member's surviving spouse, in lieu of the lump
sum, under (1) above, an allowance which would have been payable
had the member retired immediately prior to his death and elected
Option 2 with the spouse designated thereunder. If such spouse is the
person nominated by the member to receive the benefit under (1)
above, he may, by written notice filed with the board of trustees prior
to the commencement of such allowance, but not more than sixty
days after such member's death, elect to receive said lump sum benefit
in lieu of the allowance payable under this paragraph (2).

(3)   Upon the death of any such member in service who is not
eligible for a service retirement allowance, but who has attained the
age of fifty and completed fifteen or more years of creditable service

 

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Session Laws, 1972
Volume 708, Page 2620   View pdf image
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