§ 1945. Application of other laws No other provision of law in any other statute that provides wholly or partly at the expense of the State of Vermont for pensions or retirement benefits for teachers of the State, their widows, or other dependents, shall apply to members or beneficiaries of the Retirement System hereby established, […]
§ 1946. Exemption of member’s interest; assignment That portion of the compensation of a member deducted or to be deducted under this chapter, the rights of a member or beneficiary to an annuity, pension, or retirement allowance hereunder, and all a member’s rights in the assets of the System, shall be exempt from taxation, including […]
§ 1946a. Tax exemption for member of retirement system of another state or political subdivision thereof Payments received by a member of a retirement system of another state or political subdivision thereof, whether called a pension, an annuity, a retirement allowance, or any other name, shall be exempt from taxation, including income tax, provided that […]
§ 1946b. Alternate payee; domestic relations orders (a) As used in this section: (1) “Alternate payee” means any individual who is recognized by a domestic relations order as having a right to receive all, or a portion of, another individual’s payment rights in the System. (2) “Domestic relations order” means a judgment, decree, or order […]
§ 1947. Penalty Whoever with intent to deceive shall make any statements or reports required under this chapter that are untrue, or shall falsify or permit to be falsified any record or records of the System, shall be guilty of a misdemeanor and shall be punishable therefor under the laws of this State.
§ 1948. Errors Should any mistake be made, or should any change or error in the records result in any member or beneficiary receiving from the System more or less than he or she would have been entitled to receive had the records been correct, the Board shall have the power, in its discretion, to […]
§ 1949. Postretirement adjustments to retirement allowances (a) Postretirement adjustments to retirement allowance. On January 1 of each year, the retirement allowance of each beneficiary of the System who is in receipt of a retirement allowance for at least a one-year period as of December 31 in the previous year, and who meets the eligibility […]
§ 1949a. Postretirement adjustment allowance account (a) Intent. It is the intent of the General Assembly to recognize members who are in active service on or before June 30, 2022 and made contributions for the duration of fiscal year 2023 and members who are in active service on or after July 1, 2022 and made […]
§ 1949b. Postretirement adjustment to retirement allowance; formula; evaluation (a) On or before September 1, 2027 and every three years thereafter, or at the request of the Board in conjunction with any proposed changes to the amortization schedule, the Board shall consider the intent set forth in subsection 1949a(a) of this chapter and evaluate whether […]
§ 1951. Group A members; limit on contributions Contributions in the form of a deduction from compensation under section 1944 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 one […]
§ 1953. Prior service credit A teacher who has ceased being a member upon reemployment is entitled to prior service credit upon depositing in the Pension Fund the contributions that would have been deducted from the teacher’s compensation had he or she remained a member with interest as set forth in section 1944 of this […]
