145.292 Credit for prior service - zoo employment.
145.292 Credit for prior service - zoo employment.
Within ninety days after the effective date of this section, a contributing member of the public employees retirement system may purchase credit for previous employment not covered by the retirement system as an employee of a municipal zoo or a zoological society associated with a municipal zoo if at the time of his employment the zoo or zoological society also employed one or more members of the retirement system. For each year or part of a year of service credit purchased under this section, the member shall pay the following:
(A) Into the employees’ savings fund, an amount determined by multiplying the member’s salary for the year or part of a year by the employee contribution rate then in effect;
(B) Into the employer’s savings fund, an amount determined by multiplying the member’s salary for the year or part of a year by the employer contribution rate then in effect.
A member may purchase all or part of the credit for which he is eligible in one or more payments.
Effective Date: 07-20-1988