5387
MONTGOMERY COUNTY
having a lower contribution rate or different benefits.
(b) Transfers from one group to another.
(1) Transfers from Group A to Group B or E.
Whenever a Group A member transfers to a position which
is qualified for membership in Group B or E, the
retirement service credits earned as a Group A member may
be used for the purpose of qualifying for normal
retirement. Except for the contribution rate increase as
of the effective date of transfer, there shall be no
additional charges levied on any member who is
transferred prior to July 1, 1970. Contribution rate
increase as of the effective date of transfer, shall pay
the additional amount of contributions that would have
been paid as a member of Group B or E from July 1, 1970,
plus whatever interest payments determined due by the
County Personnel Board.
(2) Transfers from Group B, D or E to Group
A. Whenever a Group B, D or E member transfers to a
position which is qualified for membership in Group A,
the retirement service credits earned as a Group B, D or
E members shall be used for the purpose of qualifying for
normal retirement. The rate of contribution shall be
decreased as of the date of transfer and no refund will
be made of the difference in member contributions as a
Group B, D or E member. Upon reaching age fifty—five, a
Group B, D or E member may become a Group A member as the
incumbent of a position eligible for coverage under Group
A.
(3) Transfers from Group B to E. Whenever a
Group B member transfers to Group E, the normal
retirement date shall be adjusted accordingly. Except
for the contribution rate increase as of the effective
date of transfer there shall be no additional charges
levied on any member who transferred on or before July 1,
1970. Any member who transfers after July 1, 1970, in
addition to paying the contribution rate increase as of
the effective date of transfer, shall pay the additional
amount of contributions that would have been paid as a
member of Group E from July 1, 1970, plus whatever
interest payments determined due by the County Personnel
Board.
(4) Transfers from Group B, D or E to C.
Whenever a Group B, D or E member transfers to another
position as the result of a service connected disability,
the member shall continue to pay the contribution rate of
the membership group from which transferred and shall
retain the elective early and normal retirement date
under such group, but shall be subject to the normal
mandatory retirement date of Group C.
|
|