The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
001
:
GENERALLY
(Cite as: 3 V.S.A. § 474)
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§ 474. Predecessor systems
Any beneficiary of a predecessor system who is in receipt of a benefit on the date
of establishment shall become a beneficiary and shall continue to receive the benefit
being paid from the Fund of this System, under the conditions of the predecessor system
as in effect at the time of the member’s retirement, subject to such adjustment as
provided for in section 470 of this title. Any former member of a predecessor system who, upon termination of service, was
eligible for a deferred benefit under the provisions of that System, the payment of
which has not commenced as of the date of establishment, shall continue to be so eligible,
and shall receive such benefit from the System subject to the conditions of the predecessor
system as in effect at the time the member’s service was terminated. The cash and
securities to the credit of the predecessor systems on the date of establishment shall
be transferred to this Retirement System, the amount of each member’s accumulated
contributions included in such transfer shall be credited to the member’s individual
account in the fund to become a part of the member’s accumulated contributions, and
the balance shall be credited to the Fund. (Added 1971, No. 231 (Adj. Sess.), § 4; amended 2007, No. 13, § 12; 2025, No. 18, § 10, eff. May 13, 2025.)