§ 45-21-29 - Repayment of refunded contributions – Reinstatement of service credit.
SECTION 45-21-29
§ 45-21-29 Repayment of refundedcontributions – Reinstatement of service credit. – (a) Any member who has received a refund upon withdrawal from service has theprivilege of making a repayment to the system of the amount that the memberreceived as a refund, including regular interest from the date of receipt ofthe refund to the date of repayment of the refund to the system.
(b) The privilege of repayment of any refund under theprovisions of this section is not operative until a member has rendered atleast one year of service following the member's latest reentry into theservice of the municipality occurring subsequent to the date of the receipt ofthe refund.
(c) Upon the restoration of the refund, the service creditspreviously forfeited by the receipt of the refund are reinstated to the accountof the member.
(d) The privilege of repayment extends and applies to allrefunds received by a member prior to the filing of an application under theprovisions of this section and not to any individual amount, and all refundsare repayable at the same time and in a single sum.