3126

COUNTY LOCAL LAWS

(c) Additional contributions. The County shall
make such contributions as are required annually to
provide benefits under Section 94-62(h)
"Administrative retirement for cause en or after
normal retirement date," Section 94-62(j)
"Administrative retirement on or after elective early
retirement date," and Section 94-69(c) "Discontinued
service benefits of elective and appointive members."
Any County contributions made on behalf of an employee
who ceases to be an active member as the result of
separation from the County service before he is
eligible to vest or without vesting if eligible shall
be used each fiscal year to accelerate the payment of
any unfunded accrued liability or to fund retirement
plan improvements.

(f) Earnings of the fund. Earnings from the fund
in excess of the interest rate assumed shall be used
to fund the cost-of-1iving provision of the system.

SECTION 6. Section 65 (a) , title "Member's
credited service," 65 (i), title "Credited service for
prior military service," 65(j), title "Payment of
contributions for credited service for prior military
service," 65 (k), title "Credited service for prior
service as an elective official as defined in Section
94—61 (f)," 65 (m), title "Use of compensatory leave and
annual leave in payment for credited service," 65(n),
title "Use of sick leave for obtaining credited
service," 65(o), title "Credited service for period of
sick leave without pay," 65 (p), title "Transfers to
County retirement system," 65(q), title "Transfers
from the County Retirement System," 65(r), title
"Other transfers to the County's retirement system,"
65(s), title "Limitation on credited service," 65(t),
title "Credited service for a period of prior County
service," are hereby amended; Section 60(d) is
re—enacted in its entirety as 65 (v), title "Purchase
of qualified part-time service credits"; and 65(w) is
added, as follows:

(a) Member's credit service. A member's credited
service equals the sum of his credited future service
and his credited past service, determined as fellows:

(1) Credited future service means
creditable service rendered after the effective date
of the retirement system by a full—time employee of
the County or by a part-time employee of the County