§ 16-16-6 - Credit for service in private schools or as federal employee – Contributions.
SECTION 16-16-6
§ 16-16-6 Credit for service in privateschools or as federal employee – Contributions. – In determining the creditable service of any teacher employed in any city ortown for the purposes of retirement there may be added to, and included in,total service as defined in this chapter not more than five (5) years ofservice as a teacher or in a capacity essentially similar or equivalent to thatof a teacher in any private school or institution, in any charter school notsubject to subdivision 16-77-4(b)(12), and in public schools in which theteacher was paid by funds of the United States government except schools orinstitutions that are operated for profit; provided, however, that this serviceshall not be counted as creditable service unless the member shall pay into theretirement system a contribution equal to the full actuarial value of each yearof credit for which application is made based on the salary of the member ineffect at the date of application for the credit as determined by theretirement board. The retirement board shall fix and determine the time whenand the conditions under which the payments shall be made.