24 CAR § 10-315

24 CAR § 10-315. Contributory election — Noncontributory members

Length: 222 wordsOfficial source
(a)(1) A noncontributory member may make a contributory election. (2) If a noncontributory member makes a contributory election before the preparation of the first salary payment to the noncontributory member in the fiscal year, the contributory election is effective immediately. (3) If a noncontributory member makes a contributory election after the preparation of the first payroll containing the first salary payment to the noncontributory member in the fiscal year, the contributory election is effective July 1 of the next fiscal year. (4) All service rendered after a contributory election is filed with the system shall be contributory. (5) A noncontributory member's contributory election that is filed with the system is irrevocable. (b) An inactive member shall make contributions on his or her full salary if the inactive member: (1) Was contributory and earned a maximum salary of seven thousand eight hundred dollars ($7,800); and (2) Returns to work on or after July 1, 1995. (c)(1) An inactive member or rescinding retiree may make a contributory election if the inactive member or rescinding retiree: (A) Was noncontributory; and (B) Reenters the system after June 30, 2007. (2) If the inactive member or rescinding retiree does not make a contributory election, the inactive member or rescinding retiree shall be enrolled in the plan that he or she was enrolled in before reentering the system.
24 CAR § 10-315: 24 CAR § 10-315. Contributory election — Noncontributory members | Justis AI