§ 463 - Reinstatement
§ 463. Reinstatement
(a) Should a disability beneficiary be restored to service and should his annual earnable compensation then or at any time thereafter be equal to or greater than his average final compensation at retirement, or should any other beneficiary be restored to service, his retirement allowance shall cease, the beneficiary shall again become a member of the retirement system, and he or she shall contribute thereafter at the same rate he or she paid prior to retirement. Anything in this subchapter to the contrary notwithstanding, upon his or her subsequent retirement he or she shall be credited with all the service creditable to him or her at the time of his or her former retirement. However, if such beneficiary is restored to membership after the attainment of the age of 55 years, his or her pension upon subsequent retirement shall not exceed the sum of the pension which he or she was receiving immediately prior to his or her last restoration to membership and the pension that may have accrued on account of membership service since his or her last restoration to membership, provided that the rate percent of his or her total pension on his or her subsequent retirement shall not exceed the rate he or she would have received had he or she remained in service during the period of prior retirement.
(b) A member who has been reemployed is entitled to prior service credit upon depositing in the fund the contributions which would have been deducted from the member's compensation had he or she remained a member with interest as set forth in subdivision 473(c)(1) of this title. The member in order to qualify for the prior service credit must also deposit in the fund a sum equal to the contributions which would have been contributed by the state had he or she remained a member with interest as set forth in subdivision 473(c)(1) of this title. (Added 1971, No. 231 (Adj. Sess.), § 4; amended 1981, No. 41, § 11; 1989, No. 277 (Adj. Sess.), § 17n, eff. Jan. 1, 1991; 2007, No. 13, § 5.)