86.1120. Termination of members after five or more years of service, credit towards retirement.
Termination of members after five or more years of service,credit towards retirement.
86.1120. Members who terminate membership with five years or more ofcreditable service and later return to membership may be given credittoward retirement for prior creditable service, subject to the conditionthat such member deposit in the pension fund a sum equal to the accumulatedcontributions which had been paid to such member upon the priortermination. Such repayment of withdrawn contributions shall beaccompanied by an additional payment of interest equal to the amount of theactual net yield earned or incurred by the pension fund, including both netincome after expenses and net appreciation or depreciation in values of thefund, whether realized or unrealized, during the period of time from thedate upon which such contributions had been withdrawn to the date ofrepayment thereof, determined in accordance with such rules for valuationand accounting as may be adopted by the retirement board for such purposes.
(L. 2005 H.B. 323)