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2012 Vermont Statutes
Title 03 Executive
Chapter 16 VERMONT EMPLOYEES RETIREMENT SYSTEM
§ 480 Group B members; withdrawal of contributions


3 V.S.A. § 480. What's This?

§ 480. Group B members; withdrawal of contributions

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

(b) A group B member electing to transfer his or her creditable service to group E shall retain all service credit recognized for his or her 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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