72-1783. Same; retirement and payment on account of disability, when; reinstatement.
72-1783
72-1783. Same; retirement and payment on account of disability, when;reinstatement.Any such board of education employee who has been credited under therules and regulations of such board of education with an aggregate offifteen or more years of service may be retired by such board of educationon account of age, disability or incapacity, physical or otherwise. Anysuch employee so retired shall be entitled to receive from such retirementfund, during the period of retirement, monthly installments, the annualaggregate of which shall be such percentage of five hundred dollars as thenumber of years such service of the beneficiary shall bear to the term oftwenty-five years. Any such employee so retired may, at the discretion ofthe board of education, should such employee's incapacity or disability beremoved, be reinstated as an employee, and any right to any payments fromthis fund until such employee shall again be retired shall cease with suchreinstatement. Should any employee be so reinstated, the years of suchretirement shall be included in arriving at the term of service when suchemployee may again be retired, but no credit for such years of retirementshall be given in arriving at the amount such employee shall be entitled toreceive from the retirement fund.
History: L. 1941, ch. 339, § 4; June 30.