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Session Laws, 2002
Volume 800, Page 6077   View pdf image
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Resolution
account in the annuity savings fund of the Employees' Retirement System for the Legislative Pension
Plan. 6. Service credit. (a) Creditable service. Creditable service at retirement on which the allowance of a retiree
is based shall consist of the sum of: (1) Membership service credit; and (2) Service credit purchased under this section. (b) Membership service credit. (1) A legislator shall earn membership service credit for each year of service the
legislator makes contributions at the prescribed rate and is a member of the Legislative Pension Plan
or the statutory pension plan.   (2) Years of service need not be consecutive. (3) On or after January 8, 1975, a member shall receive one year of membership
service credit if: (i) The member is employed on a full-time basis by the State or a political
subdivision of the State in nonlegislative employment; (ii) The member is compensated by the State or a political subdivision of the
State for the nonlegislative employment; (hi) The member has taken a leave of absence from the nonlegislative
employment while serving as a legislator; and (iv) The member is not receiving credit in another retirement system supported
wholly or in part by the State for the period of the member's absence from the nonlegislative
employment. (c) One-time purchase of service credit. A member who is serving in the General Assembly
shall have one opportunity to purchase service credit for all previous legislative service, including
legislative service from previous terms of office, by paying to the Board of Trustees an amount equal
to 5% of the salary payable to the legislator during the years of service to be purchased plus regular
interest thereon.
6077


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Session Laws, 2002
Volume 800, Page 6077   View pdf image
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