2005 Vermont Code - § 5053. — Members

§ 5053. Members

(a) An employee of an employer who joins the Vermont municipal employees' system may become a member of the system on the effective date of participation of said employer or at a later date if he has completed three or more years of continuous service as an employee. If an employee does not elect to join on the effective date of the system, he may join on the first of any subsequent month.

(b) Any employee who is hired subsequent to the effective date of participation of his or her employer, and who:

(1) has not been offered a choice between the defined benefit plan and the defined contribution plan, as provided for in section 5070 of this title, shall become a member of the system on the date the employee is hired.

(2) has a choice between the defined benefit plan and the defined contribution plan, as provided for in section 5070 of this title, shall become a member of the system 90 days after the date the employee is hired. Retirement credit will begin upon enrollment as a member. A member may restore retirement credit for the service prior to becoming a member of the system by depositing an amount that the member would have contributed had the member joined the retirement system on the date he or she was hired. If a member elects to restore retirement credit, the employer shall make the appropriate matching contributions.

(c) A municipality may elect to join the Vermont municipal employees' retirement system by a vote of the legislative body of such municipality for all its employees or for employees of one or more groups of employees which have a similarity of interest, needs and general conditions of employment, as determined by the legislative body and approved by the board. The effective date of participation for such employers shall be designated by the retirement board.

(d) The retirement board may, upon application of the legislative body and an employee, exempt individual employees from membership in the system, provided that the board determines that the employee is participating in an alternative retirement system, including a retirement plan qualifying under section 401(a) or 457 of the Internal Revenue Code, which better meets the retirement needs of the employee. (Added 1973, No. 251 (Adj. Sess.), § 3. 1974; amended 1977, No. 205 (Adj. Sess.), § 2; 1987, No. 39, § 2; 1989, No. 11, § 6, eff. July 1, 1990; 1991, No. 233 (Adj. Sess.), § 2; 1995, No. 118 (Adj. Sess.), § 1; 1999, No. 53, § 12; 1999, No. 158 (Adj. Sess.), § 17.)