The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 3 : Executive
Chapter 016 : Vermont Employees' Retirement System
Subchapter 001 : Generally
(Cite as: 3 V.S.A. § 459a)-
§ 459a. Restoration of service
(a) When a beneficiary resumes service, as defined in subdivision 455(a)(21) of this title, he or she shall again become a member of the System, shall contribute at the rate established for members of his or her group, and shall not be entitled to receive a retirement allowance.
(b)(1) Upon the subsequent retirement of an employee who once again became a member under subsection (a) of this section, the employee shall once again become a beneficiary whose former retirement allowance shall be restored under the same plan provisions applicable at the time of the initial retirement, but the beneficiary shall not be entitled to cost of living adjustments for the period during which the beneficiary was restored to service. In addition to the former retirement allowance, a beneficiary shall be entitled to a retirement allowance separately computed for the period beginning with the beneficiary’s last restoration to service for which the member has made a contribution. If the beneficiary is not vested in the system since the beneficiary was last restored to service, the member’s contributions plus accumulated interest shall be returned to the beneficiary.
(2) Notwithstanding subdivision (1) of this subsection, for a Group C member who has attained the later of 50 years of age and has completed 20 or more years of service, in no event shall the member’s separately computed retirement allowance increase by an amount equal to more than one and one-half percent of the member’s average final compensation per year of service actually performed during the period beginning with the member’s last restoration to service. (Added 2009, No. 24, § 1; amended 2021, No. 114 (Adj. Sess.), § 6, eff. July 1, 2022.)
