3134
COUNTY LOCAL LAWS
full-time employee before the effective date of the
amendments to this article may also purchase
retirement service credits under the same conditions
for any period of qualified part-time service.
(W) PURCHASE OF PRIOR STATE AND COUNTY SERVICE
CREDITS. PRIOR SERVICE CREDITS FOR ANY PERIOD OF
STATE OR COUNTY SERVICE FROM MARCH 1, 1948 TO THE
EFFECTIVE DATE OF THIS ARTICLE MAY NOT BE CREDITED
WITHOUT THE PAYMENT BY THE MEMBER OF THAT AMOUNT OF
CONTRIBUTIONS THAT WOULD HAVE BEEN DEDUCTED FROM HIS
PAY DUPING THIS PERIOD PLUS INTEREST AT THE RATE OF
FOUR AND ONE-HALF PERCENT (4 1/2%) PER ANNUM TO JUNE
30, 1970 AND SIX AND ONE-HALF PERCENT (6 1/2%)
INTEREST THEREAFTER FOR EACH YEAR FROM JUNE 30, 1970
TO THE RATE OF FULL PAYMENT FOR SUCH CREDITED SERVICE.
PRIOR STATE OR COUNTY SERVICE CREDITS FOR THE
PERIOD BEFORE MARCH 1, 1948 WILL BE CREDITED WITHOUT
CONTRIBUTION BY THE EMPLOYEE IF HE PURCHASES PRIOR
STATE OR COUNTY SERVICE CREDITS FOR THE PERIOD FROM
MARCH 1, 1948 AND THEREAFTER.
SECTION 7. Sections 66 (a) title "Average Final
earnings," 66 (h) , title "Amount of pension at normal
retirement date or administrative retirement on or
after elective early retirement date" and 66(c), title
"Amount of pension at elective early retirement date
and early retirement reduction factors" are hereby
amended to read as follows:
(a) Average final earnings. "Average final
earnings" shall mean the regular earnings of a member
for the last twelve (12) months of service as a member
immediately preceding retirement or any consecutive
twelve (12) month period of service whichever is
higher. Whenever a member is in leave—without—pay
status during a part of his final twelve (12) months
of service, his average final earnings shall mean the
last twelve (12) months during which the employee was
in full pay status immediately preceding his
retirement.
(b) Amount of pension at normal retirement date
or administrative retirement on or after elective
early retirement date. The yearly amount of pension
for a member who retires from the service of the
County on his normal retirement date or administrative
retirement on or after elective early retirement date
|