Sec. 7-427a. Enrollment procedures for employees of regional work force development boards. Rights of previously retired members unaffected. Transfer of contributions.
Sec. 7-427a. Enrollment procedures for employees of regional work force development boards. Rights of previously retired members unaffected. Transfer of
contributions. If the majority of the members of a regional work force development
board vote to participate in this part, employees of a regional work force development
board who are eligible under section 7-425, and who are not members of the Municipal
Employees Retirement Fund B shall become members thereof on July 1, 1998. Membership in any other retirement system shall terminate on said date. The members of a
regional work force development board shall arrange for termination of such systems,
which arrangements shall include provision that the rights of members who retired prior
to July 1, 1998, under such system shall not be affected and provision that any refunds
of employee contributions made to such other retirement system shall be transferred to
the Municipal Employees' Retirement Fund B and the appropriate amount credited to
the account of each transferring employee's benefit. Each employee of the regional
work force development board shall pay his pro rata share of the actual cost of such
transfer at no additional cost to the municipality or board.
(P.A. 97-152, S. 3.)