§22-803. Purchase of Prior City Service.
(1) Cost of purchase. If an employee is separated from
City employment and withdraws contributions covering credited service, then
§ 22-302 (Separation Retirement Benefits) provides that the employee no
longer has service credit for retirement, death or disability benefits. If such
an individual is later reemployed by the City in Plan A, Plan B, Plan L, or
Plan Y, the employee may purchase credit for previous City service by paying the
Retirement System the amount of the contributions that would have been made
during the period of previous employment if the employee had then been a member
of the appropriate plan of the Retirement System, together with interest thereon
at the assumed earnings rate on fund investments as determined by the Board from
time to time.
(2) Limit on time to purchase. If an employee applies to
restore credit for previous service, the employee must either pay the full
amount calculated under subsection (1) or make arrangements to pay such amount
on the installment plan described in § 22-806 (Installment Payments) within
the first year of reemployment. Provided, however, that members of Plan A, Plan
B, Plan L, or Plan Y who file beyond the one-year deadline, may make such
purchase by paying the additional interest provided in Section
22-807.
(3) Purchase of temporary service by members of Plan J. A member
of Plan J who was hired as a temporary employee for a period not exceeding six
(6) months whose period of continuous employment extended beyond six months, and
who had not been permitted to contribute to the Retirement System, may elect to
purchase credited service for the period of temporary employment. Upon making
such election, the member shall pay the contributions covering such period,
together with interest thereon.
(4) Purchase of temporary service by
members of Plan Y. If a temporary employee who was originally hired on or after
January 8, 1987 for six (6) months or less continues to work for the City after
the six (6) months are over, that employee becomes a member of Plan Y beginning
with the first full pay period after the six (6) months. At that time, the
employee may purchase service credit for the period of temporary service by
paying contributions covering such period, together with interest thereon at the
current rate determined by the Board's actuary.
(5) Purchase of
prior service by members of Plan D, Plan J, and Plan X.
(a) If any
member of Plan D, Plan J, or Plan X had previously separated, withdrawn
contributions and been rehired without purchasing credit for prior City service,
such member may purchase said service by paying to the system
(.1) the
amount of any contributions withdrawn by the member, and
(.2) the
difference between
(.a) the amount of contributions paid by him
during his employment and
(.b) the amount of contributions he would
have paid during his employment; and
(.3) interest at the rate of six
(6) per cent per annum on the amount payable under Subsection
(.2).
(b) If such employee did not, within one year following his
reemployment, make payment to the retirement system in accordance with
subsection (a) but desires to make such repayment at a time subsequent thereto,
and while still employed by the City and still in Plan D, Plan J, or Plan X, he
may do so by paying in addition to the amount of such required payment, interest
at the rate of four per cent per annum on the total sum due as computed under
subsection (a) above, from the expiration of the one-year period. In addition
thereto, such employee shall pay a sum equal to one day's pay for each
year or fraction thereof between the time of the expiration of the one-year
period and the time of repayment.
(c) Any member who fails to make
payment for prior service as hereinbefore provided, shall not receive credit for
any service prior to the time of his reemployment.
(6) Purchase of prior
service during deferred membership by members of Plan D, Plan J, and Plan
X.
[34] (a) If any member of Plan D,
Plan J, or Plan X had, at the time of his or her employment and in accordance
with the applicable Retirement System Ordinance at the time, elected to defer
membership in the Retirement System and had not previously purchased pension
credit for the period during which membership was deferred, such member may
purchase said service by paying to the system
(.1) the amount of
contributions the member would have paid during that period of deferred
membership; and
(.2) the additional interest provided in Section
22-807.
(7) Purchase of previously ineligible City temporary
service.
[35] (a) If any member
has
[36] one or more periods of temporary
service with the City for which the member is not eligible to purchase service
credit under subsection 22-803(3) or (4) above, such member may purchase said
service by paying to the system
(.1) the amount of contributions the
member would have paid during that period of temporary employment;
and
(.2) the additional interest provided in Section
22-807.