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2005 Vermont Code - § 480. — Group B members; withdrawal of contributions

§ 480. Group B members; withdrawal of contributions

(a) A group B member who becomes a group E member may elect to have his creditable service remain in group B or may elect to transfer his creditable service to group E.

(b) A group B member electing to transfer his creditable service to group E shall retain all service credit recognized for his previous group, shall lose all rights to benefits as a group B member under this chapter, attain all rights to benefits as a group E member under this chapter, and within 60 days of the effective date of the transfer, shall receive return of the member's accumulated contribution balance, including interest, to the date of transfer. (Added 1985, No. 39, § 2, eff. May 8, 1985.)

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