§22-804. Pension Credit for Former C.E.T.A. Employees.
(1) Definitions. For the purpose of this section, the
following definitions shall apply:
(a) C.E.T.A. Employee. Any person hired
by the City under the Comprehensive Employment and Training Program Act
established by the Federal
Government.
[37] (2) Any C.E.T.A.
employees who continued in employment with the City after the termination of
their C.E.T.A. employment or who later re-entered the service of the City
pursuant to provisions of § 22-201 (Membership Upon Employment) are
entitled, at their individual option, to purchase credited service under the
Retirement System for the period of their service as C.E.T.A. employees. The
employee shall be obligated to make contributions at the rate of 6% of the
salary that the employee earned for the period of credited service purchased
plus interest on that amount calculated from the date the employee was directly
transferred from the C.E.T.A. program to permanent City employment, or, if later
re-employed, the date the employee was separated from the C.E.T.A. program.
Interest shall be charged at the current rate determined by the Board's
actuary to compensate the Pension Fund for lost interest.
(3) Any
payments which may be due from former C.E.T.A. employees under this section may
be paid by installment under the provisions of § 22-806 (Installment
Payments).