72-17,103. Same; refunds, when; accepting service in another city operating under this act; voluntary retirement; payment to heirs, when.
72-17,103
72-17,103. Same; refunds, when; accepting service in another cityoperating under this act; voluntary retirement; payment to heirs, when.If at any time a teacher or other public school employee who is willingto continue, is not re-employed or is discharged before the time when hewould, under the provisions of this act, be entitled to a pension, thensuch teacher or other public school employee shall be paid back at once themoney, without interest, he may have contributed under this act. Should ateacher or other public school employee duly accredited in a city of thefirst class, accept service in the public schools of another city of thefirst class, operating under this law, a sum equivalent to all payments,without interest, made by such teacher or other public school employee intothe retirement fund shall be transferred to the retirement fund of the cityin which such service is accepted. Any teacher or other public schoolemployee who shall retire voluntarily from the service shall receive arefund of all of the money, without interest, he shall have contributedunder this act: Provided, That if any teacher or other public schoolemployee shall so retire before the expiration of the contract under whichhe is employed he shall only receive a refund of one-half of the money,without interest, he shall have contributed under this act unless suchretirement is occasioned by ill health or other just cause and the finaldetermination of the same shall be vested in the board of education.
And should any teacher or other public school employee die beforereceiving any of the benefits or pensions by this act provided, the boardof education shall pay to such teacher's or other public school employee'sheirs or estate the entire sum, without interest, which such teacher orother public school employee shall have paid into such pension fund; andfurther, if such teacher or other public school employee is retired as anannuitant at the time of his death, then if such an annuitant shall havedied before he has received one year's annuity, the heirs of estate of suchannuitant shall receive an amount from said fund equal to the differencebetween the amount such deceased teacher or other public school employeehas received and the amount he would have received under this act had helived for one year after retirement under this act.
History: L. 1947, ch. 384, § 5; July 1.