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2016 Statute



Prev Article 17. - SUPPLEMENTAL RETIREMENT SYSTEMSNext


72-17,103.Same; refunds, when; accepting service in another city operating under this act; voluntary retirement; payment to heirs, when. If at any time a teacher or other public school employee who is willing to continue, is not re-employed or is discharged before the time when he would, under the provisions of this act, be entitled to a pension, then such teacher or other public school employee shall be paid back at once the money, without interest, he may have contributed under this act. Should a teacher or other public school employee duly accredited in a city of the first class, accept service in the public schools of another city of the first class, operating under this law, a sum equivalent to all payments, without interest, made by such teacher or other public school employee into the retirement fund shall be transferred to the retirement fund of the city in which such service is accepted. Any teacher or other public school employee who shall retire voluntarily from the service shall receive a refund of all of the money, without interest, he shall have contributed under this act: Provided, That if any teacher or other public school employee shall so retire before the expiration of the contract under which he is employed he shall only receive a refund of one-half of the money, without interest, he shall have contributed under this act unless such retirement is occasioned by ill health or other just cause and the final determination of the same shall be vested in the board of education.

And should any teacher or other public school employee die before receiving any of the benefits or pensions by this act provided, the board of education shall pay to such teacher's or other public school employee's heirs or estate the entire sum, without interest, which such teacher or other public school employee shall have paid into such pension fund; and further, if such teacher or other public school employee is retired as an annuitant at the time of his death, then if such an annuitant shall have died before he has received one year's annuity, the heirs of estate of such annuitant shall receive an amount from said fund equal to the difference between the amount such deceased teacher or other public school employee has received and the amount he would have received under this act had he lived for one year after retirement under this act.

History: L. 1947, ch. 384, § 5; July 1.



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2017. Powered by KLISS. Rendered: 2017-11-24T07:15:29. Head Rev No: 339333