§ 49-5-905. Deficiencies in Contributions
Any teacher who has not contributed to the minimum amount may make up the deficiency by a cash payment in full with principal and interest or by having it deducted in equal amounts from the annuity installments.
§ 49-5-906. Eligibility for Benefits
Every teacher who has annually contributed to the fund in accordance with this part for at least five (5) years and has taught in the public schools not less than twenty-five (25) years, fifteen (15) years of which have been in the public schools of a city, town, county or district, may be retired by […]
§ 49-5-907. Retirement Because of Incapacity
Every teacher in the public schools of a city, town, county or district who has taught in the schools not less than ten (10) years, has contributed for not less than five (5) years annually to the fund, as may be provided under this part, and has become, without the fault of the teacher, mentally […]
§ 49-5-908. Insufficiency of Fund to Pay Annuities
In case the fund is insufficient to pay the annuity provided for in this part, there shall be a ratable distribution among such beneficiaries who may be entitled to the annuity, and there shall be no claim for any deficiency.
§ 49-5-909. Exemption of Benefits From Process — Nonassignability
All annuities granted and payable out of the teachers’ retirement fund shall be and are exempt from seizure or levy upon attachment, execution, supplemental process and all other process, whether mesne or final. The annuities or any payment of the annuities shall not be subject to sale, assignment or transfer by any beneficiary, and such […]
§ 49-5-910. Board of Trustees
There shall be a board of trustees for each city, town, county or district established, which shall be known as the public school teachers’ retirement fund board, and shall be composed of nine (9) members who shall serve without compensation. The board shall consist of five (5) teachers, who shall be elected by the teachers […]
§ 49-5-911. Rules of Trustees — Quorum
The board of trustees is authorized to make rules and regulations for the government of the body, subject to the limitations of this part. Six (6) members of the board constitute a quorum, one (1) of whom shall be a member of the school board. No official act of the board can be performed except […]
§ 49-5-808. Use of Bank
The sick leave bank trustees shall administer the sick leave bank and approve or reject each request for additional sick leave. All actions of the trustees will require three (3) affirmative votes. The form and manner of application for use of leave from the bank shall be prescribed by the trustees. The trustees shall act […]
§ 49-5-809. Loss of Benefits
A member shall lose the right to obtain the benefits of the sick leave bank by: Resignation or termination of employment with the local school system; Cancellation of participation that is effective only on June 30 next; Refusal to honor such assessment as may be required from time to time by the trustees to maintain […]
§ 49-5-810. Dissolution of Bank
In the event the sick leave bank is dissolved, the total days on deposit shall be returned to the then participating members and credited to their personal sick leave accumulation in proportion to the number of days each has contributed individually. Days returned under this section and credited to the individual participant’s accumulation shall be […]