§ 8-3-16 - Retirement contribution.
SECTION 8-3-16
§ 8-3-16 Retirement contribution. –(a) Judges engaged after December 31, 1989 shall have deducted from totalsalary beginning December 31, 1989 an amount equal to a rate percent ofcompensation as specified in § 36-10-1 relating to member contributions tothe state retirement system. Proceeds deposited shall be held in trust for thepurpose of paying retirement benefits to participating judges or theirbeneficiaries. The retirement board shall establish rules and regulations togovern the provisions of this section.
(b) A member of the judiciary who withdraws from service orceases to be a member for any reason other than retirement, shall be paid ondemand a refund consisting of the accumulated contributions standing to his orher credit in his or her individual account in the judicial retirement benefitsaccount. Any member receiving a refund shall thereby forfeit and relinquish allaccrued rights as a member of the system together with credits for totalservice previously granted to the member; provided, however, that if any memberwho has received a refund shall subsequently reenter the service and againbecome a member of the system, he or she shall have the privilege of restoringall money previously received or disbursed to his or her credit as refund ofcontributions. Upon the repayment of the refund as herein provided, the membershall again receive credit for the amount of total service which he or she hadpreviously forfeited by the acceptance of the refund.
(c) Whenever any judge dies from any cause before retirementand has no surviving spouse or minor child(ren), a payment shall be made of theaccumulated contributions standing to his or her credit in his or herindividual account in the judicial retirement benefits account. The payment ofthe accumulated contributions of the judge shall be made to such person as thejudge shall have nominated by written designation duly executed and filed withthe retirement board, or if the judge has filed no nomination, or if the personso nominated has died, then to the estate of the deceased judge.