§ 480a. Group A members; limit on contributions
§ 480a. Group A members; limit on contributions Contributions in the form of a deduction from compensation under section 473 of this title shall cease for any group A member who attains 25 years of creditable service and the member shall continue to accrue creditable service, without such a contribution, at the rate of 1 […]
§ 477. Prior service credit
§ 477. Prior service credit An employee who has ceased being a member upon reemployment is entitled to prior service credit upon depositing in the Fund the contributions which would have been deducted from the employee’s compensation had he or she remained a member with interest as set forth in section 473 of this title. […]
§ 477a. Elections
§ 477a. Elections (a) Any member who has rendered 15 years of creditable service and who has, prior to becoming a member of the System, served a minimum of one full year of full-time service in the military or one full year of full-time service as a member of the Cadet Nurse Corps in World […]
§ 479. Group insurance
§ 479. Group insurance (a) As provided under section 631 of this title, a member who is insured by the respective group insurance plans immediately preceding the member’s effective date of retirement shall be entitled to continuation of group insurance as follows: (1)(A) coverage in the group medical benefit plan provided by the State of […]
§ 479a. State Employees’ Postemployment Benefits Trust Fund
§ 479a. State Employees’ Postemployment Benefits Trust Fund (a) A “State Employees’ Postemployment Benefits Trust Fund” (Benefits Fund) is hereby created for the purpose of accumulating and providing reserves to support retiree postemployment benefits for members, and to make distributions from the Benefits Fund for current and future postemployment benefits for retirees of the Vermont […]
§ 473. Funds
§ 473. Funds (a) Assets. All of the assets of the Retirement System shall be credited to the Vermont State Retirement Fund. (b) Member contributions. (1)(A) Allocations. Contributions deducted from the compensation of members together with any member contributions transferred thereto from the predecessor systems shall be accumulated in the Fund and separately recorded for […]
§ 473a. Periodic actuarial reports
§ 473a. Periodic actuarial reports The Board shall cause to be made an actuarial reevaluation of the rate of member contributions deducted from earnable compensation pursuant to subdivision 473(b)(2) of this title, on a periodic basis at least every three years, to determine whether the amount deducted is necessary to make the contributions picked up […]
§ 474. Predecessor systems
§ 474. Predecessor systems Any beneficiary of a predecessor system who is in receipt of a benefit on the date of establishment shall become a beneficiary hereunder and shall continue to receive the benefit being paid from the Fund of this System, under the conditions of the predecessor system as in effect at the time […]
§ 475. Errors
§ 475. Errors Should any change or error in the records result in any member or beneficiary receiving from the Retirement System more or less than he or she would have been entitled to receive had the records been correct, the Retirement Board shall have the power to correct such error, and to adjust as […]
§ 476. Exemption of member’s interest; assignment
§ 476. Exemption of member’s interest; assignment A member’s annuity, pension, or retirement allowance under this subchapter and the member’s assets in the Retirement System, shall not be exempt from taxation, including income tax, but shall be exempt from the operation of any laws relating to bankruptcy or insolvency and shall not be attached or […]