§ 1939 - Restoration to service - Vermont Statutes

§ 1939. Restoration to service

(a) In any fiscal year in which a beneficiary resumes service, as that term is defined in section 1931 of this title, he or she shall again become a member of the system, shall contribute at the rate established for members of his or her group and shall not be entitled to receive a retirement allowance, if he or she is:

(1) compensated in excess of the allowable number of days per school year as established by the board for substitute teaching; or

(2) receives compensation in excess of 60 percent of the average compensation in the teacher system.

(b) If a person once again becomes a member under subsection (a) of this section, membership shall be retroactive to the beginning of the fiscal year in which the person resumed service and the member shall not be entitled to any retirement allowance received during that fiscal year. If the person received a retirement allowance during the fiscal year in which he or she resumed service, upon subsequent retirement the board shall suspend his or her retirement allowance for a period necessary to reimburse the system for the total retirement allowance received during the period in which the beneficiary resumed service and became a member.

(c) Upon subsequent retirement of a person who once again becomes a member under subsection (a) of this section, the beneficiary's former retirement allowance shall be restored, but the beneficiary shall not be entitled to cost of living adjustments for the period during which he or she was restored to service. In addition to the former retirement allowance, a beneficiary shall be entitled to a retirement allowance separately computed for the period beginning with his or her last restoration to service for which the member has made a contribution. (Amended 1963, No. 110, § 2, eff. May 28, 1963; 1973, No. 141 (Adj. Sess.), § 4; 1981, No. 41 § 27; 1995, No. 36, § 5; 1999, No. 158 (Adj. Sess.), § 10.)