2005 Vermont Code - § 1935. — Teachers in certain public or independent schools

§ 1935. Teachers in certain public or independent schools

(a) The board of trustees may designate certain public or independent schools, which are located within the state, and supported wholly or in part by the state but which are not under the control of the state board of education, as employers of teachers within the meaning of this chapter.

(b) At any time within seventy-five days following the date of such designation, any person employed on the date of designation in a teaching capacity by such institution and who is not then a member of the system may become a member of the system by filing with the board of trustees, on a form prescribed by the board, an application to be covered in the membership of the system.

(c) The provisions of section 1933 of this title notwithstanding, any person who becomes a teacher by virtue of his employment in a teaching capacity by such institution after such date of designation who at the time of such employment is a member of the Vermont employees' retirement system may within seventy-five days following the date of such employment file with the board of trustees, on a form prescribed by the board, a notice of his election not to be covered in a membership of the system and a duly executed waiver of all present and prospective benefits which would otherwise inure to him as a member.

(d) Each teacher who becomes a member under the provisions of subsection (b) of this section shall file a detailed statement of all service as a teacher rendered by him prior to the date of such membership for which he claims credit. The total period of such service creditable shall be determined and certified in accordance with the procedure established in subsection (b) of section 1936 of this title, for the crediting of prior service but the portion of such service rendered subsequent to July 1, 1947 shall be credited to the member as membership service.

(e) Should a member of the Vermont employees' retirement system become a member of this system under the provisions of this section the amount of his accumulated contributions shall be transferred from his account in the Vermont employees' retirement system and credited to his account in the annuity savings fund, the amount of prior and membership service standing to his credit under said employees' system not creditable under subsection (d) of this section shall be credited to him in like manner under this system whereupon his membership in said employees' system shall cease.

(f) Should a member of the state teachers' retirement system of Vermont employed by Vermont state colleges elect to transfer from the state teachers' retirement system to another retirement system designated by the board of trustees of Vermont state colleges, the amount of his accumulated contributions, funded pension reserve and creditable service as of the date his transfer shall be transferred from his account in the state teachers' retirement system to his account in the system designated by the board of trustees of Vermont state colleges. (Amended 1963, No. 69; 1991, No. 24, § 11.)