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1977 Ordinances
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1977 Ordinances
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7/17/2001 6:41:43 PM
Creation date
6/26/2001 5:21:33 PM
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Ord/Resolutions
Year
1977
Ord/Resolutions - Type
Ordinances
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taken to mean the r~firement payments to which a .rmmnber is enf_itied as <br /> provided ~ this iArkicle. ~..~ - <br /> <br /> Service. The word "service" 'shall be taken t~ mean service'~as an '. <br /> employee for which compensatign is iPaid b!~- the ~loyer~: ' ~ ' <br /> <br />. . System. The word "syste~a" shall he-taken, to mean 'the' "Porbsmouth. <br />Supplemental Retirement System" provided-for in-~s ~rticle~ '-'. <br /> <br /> Section 31-30 (a) (l) .' Period. of' membership; 'cessation Of membershipj <br /> <br /> ~ (1) Upon his termination of service as an e~rplOYee, other than .by <br /> retirement, before he has becc~e Vested ilnder the oDnditionS as Stated <br /> in Section 31-62; provided however, that for the purpoSes of this section <br /> the entrance of a member' into authorized leave Of absence shall -not ' <br /> .COnstitute termination of service.a~ an employee; provided the n~:mber <br /> reenters service as an ermployee at the.expikation of the period of . ' <br /> authorized leave, and the entrance of a member, into the A~ned F6r~e~ of <br /> the United States shall not .COnstitute t~mination ~f servi~e as an- <br /> employee; provided the member's service in such a~m~d forces qualifies <br /> as creditable service, under Section 31-40; or~ - · <br /> <br /> Section 31-41. Inclusion Of-service under th~'V~a Supplemental <br /> Retirement System as creditable servi~e. . <br /> <br /> . With respect to any member who was a raember c~ the Virginia Suppl~e? <br /> mental Eetireraent System~ immediately prior to his ~ecoming a m~mber of <br /> this system, and whose~ membership L~ the Virgini~ Suppl~nentat'.Retirement <br /> System has .ceased through withdrawal of'his contributions 6_hereunder, <br /> the period, of time during ~ch he was a:member of the Virginia Supple- <br />mental Retirement System may;- in, the discre~i'~n.of ~he board, be'included? <br />as creditable service, hereunder, provided he pays-into the retirement <br />a~ceunt, within one year-of, becc~J_ng a member, the acaount of contributions <br />he wi.thdre.w frcxa th. e V~,rg~ia Supplec~en? Reti~ System when he <br />cease~ to be.a me~oer hhereof, or, prov~ded~he pays into the refJ_rem~nt' <br />account an amount equal to the normal contr~oution and aCcrued liability- <br />COntribution percentages of. creditable cc~pensatio~ that would have been <br />paid had the person bee~ a .msmber during the period of his n~nbership ~n <br />the Virginia Supplemental Retirement System. Sai~-amount paid into the' <br /> <br /> all rem~ln ~n the assets of the retirement, system and shai1 not be <br />considered as employee contributions, any. other prov~si0ns, of this <br />article to the contrary notwithstanding.' ~:~'. - . ~ <br /> <br />Section 31-62. Service R~tir~nent.. -~ <br /> <br /> (a) Any member in service who has attained the age of fife-five <br />(55) and who has attained the number of years of creditable se/-vice ~e- <br />quired for entitlement to benefits under ~-he 'vesting provisions of f_his <br />Section may retire at any time then or thereafter %loon writter~ notification <br /> <br /> <br />
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