18A:66-8.1 - Discontinuance from teaching service through voluntary service in Peace Corps; continuance of membership; conditions - New Jersey Statutes

18A:66-8.1.  Discontinuance from teaching service through voluntary service  in Peace Corps;  continuance of membership;  conditions
    If a teacher has been or hereafter shall be discontinued from teaching service through voluntary service in the Peace Corps of the United States, his membership in the Teachers' Pension and Annuity Fund shall continue if he has not withdrawn his accumulated deductions, and if he returns to teaching service  within a period of 5 years from the date of his discontinuance from service.   Any previously held account in the Teachers' Pension and Annuity Fund which  has expired as a result of such a discontinuance shall be reconstructed, and  credit for retirement purposes shall be allowed to such member covering the  period of his service in the Peace Corps.  The method of computation, the terms  of the purchase and the credit granted shall be identical to those stipulated  for the purchase of previous membership service by members of the fund as  provided in N.J.S. 18A:66-9.

     L.1981, c. 431, s. 1, eff. Jan. 9, 1982.