Membership:
April 1, 1979
Employees shall become members of the Retirement System only when they work at least 25 hours per week and a minimum of 40 weeks per year. Part time service will be prorated on the basis of annual dollar earnings as compared with the dollar earnings of a comparable full time position.
Creditable Service:
Regular Compensation:
Miscellaneous:
June 29, 2020
Policy on Provisional Payments to Retirees/Beneficiaries Pending PERAC Approval
The purpose of the Policy on Provisional Payments to Retirees Pending PERAC Approval is to provide a timely first payment to retiree/beneficiaries who have been approved to receive a retirement allowance, but whose retirement allowance calculations are subject to review and approval by PERAC.
It shall be the policy of the Board that all such retirees/beneficiaries be paid as soon as practical the monthly retirement allowance as calculated by the Board’s staff and as submitted to PERAC for approval.
If PERAC approves a retirement allowance calculation which is greater or lesser than the amount submitted for approval, appropriate adjustments shall be made to the retirement allowance, so as to correct the System’s records and to make the retiree/beneficiary and/or the System whole.
This policy shall not apply to retirees/beneficiaries who are in pay status pending PERAC approval of a recalculated retirement allowance.