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Resolution
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(2) Filing the designation of beneficiary form with the Board of Trustees.
(d) Recomputation of allowance. If a retiree changes a designated beneficiary, the Board of
Trustees shall recompute the allowance based on the value of the balance in the retiree's reserves
when the change is made.
14. Adjustment of allowances.
(a) Application of section. This section does not apply to all or any portion of a retirement
allowance or a survivor allowance that is computed in accordance with the statutory pension plan.
(b) Adjustment of allowances - In general. Except as provided in § 8 of this Item 3A, as of
the date the salary of a current legislator in the General Assembly is increased, the Board of Trustees
shall recompute a retirement allowance or a survivor allowance under this Item 3A on the basis of
the service retirement allowance as provided under this Item 3A and the annual salary payable to a
current legislator in the General Assembly.
(c) Same - Eligible presiding officer.
(1) This subsection applies to a retiree who served as an eligible presiding officer or
a beneficiary of an eligible presiding officer.
(2) As of the date the salary of a current presiding officer is increased, the Board of
Trustees shall recompute a retirement allowance or a survivor allowance under this Item 3A on the
basis of the annual salary payable to a current presiding officer.
15. Effect of employment of retiree.
(a) Subject to subsection (b) of this section, beginning January 9, 1991, a retiree who is
receiving a retirement allowance may accept employment with the State as an employee or an elected
or appointed official without any reduction in the retiree's retirement allowance.
(b) If a retiree who is receiving a retirement allowance becomes a member of the General
Assembly:
(1) The retiree's retirement shall be canceled;
(2) The retirement allowance payments shall terminate after the last day of the month
preceding the date of return to service as a legislator;
(3) All previous creditable service shall be restored to the account of the member; and
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6084
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