19-20-416. Credit for legislative service required.
19-20-416. Credit for legislative service required. (1) A legislator who did not elect to continue to participate in the system, as provided under 5-2-304, and who subsequently participates as a member must be awarded creditable service for legislative service if the legislator contributes:
(a) an amount equal to the member contributions that would have been made if the legislator had elected membership; and
(b) interest at the rate that the contributions would have earned if they had been on deposit with the retirement system.
(2) The employer contribution must be made by the legislative branch in the amount that would have been contributed if the legislator had elected membership plus interest at the rate that the contributions would have earned if they had been on deposit with the retirement system.
History: En. Sec. 10, Ch. 111, L. 1999.