§ 40-203. Re-Entry Into The Pension Plan.  


Latest version.
  • (a)

    A person who has been paid a refund of Accumulated Contributions and subsequently earns any Vesting Credits under the Pension Plan may repay to the Pension Plan the Accumulated Contributions previously received, plus interest on that amount at the actuarially assumed interest rate, compounded annually, or such other amount as prescribed in Section 411(c)(2)(D) of the Internal Revenue Code.

    (b)

    Upon repayment of the refunded Accumulated Contribution, plus interest, the Participant shall be credited with all Vesting Credits previously lost and there shall be no reduction in the value of any subsequent benefit by the value of the Accumulated Contributions previously refunded.

(Ord. No. 90-33, Ch. II, § 4-3, 5-21-91; Ord. No. 2015-03, § 2, 6-2-15)