CHAPTER 427

An Act to amend and reenact § 51-111.41:1 of the Code of Virginia,
relating to prior service credit for certain members of the Virginia
Supplemental Retirement System.

fH 207]

Approved March 31, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 51-111.41:1 of the Code of Virginia be amended and reenacted
as follows:

§ 51-111.41:1. (a) Any State employee or teacher member of the
retirement system may be credited with prior and/or membership service
which might otherwise be credited, except for cessation of membership
under § 51-49 of the abolished system and/or under § 51-111.29 of this
chapter because of the withdrawal of his accumulated contributions, pro-
vided such member repays, while in service and a member of the retire-
ment system, the amount, or amounts, so withdrawn, together with
interest thereon at the rate of 344% per annum compounded annually
from the date such funds were last credited with interest by the Board to
the first day of the month during which repayment is made. Four-sevenths
of such interest payment, and the amount previously withdrawn and so
repaid, shall be credited to the account of the member in the member’s
contribution account.

(b) Any State employee or teacher member of the retirement system
in service who rejected membership in the abolished system may be cred-
ited with service during the period of rejection upon payment of con-
tributions, based on the current contribution rate of the retirement
system, on the assumption that the salary received by such person on the
date of payment had been received during the entire such period, plus
314% interest thereon compounded annually from the end of each respec-
tive fiscal year to which the contribution applies to the first day of the
month during which payment is made. Four-sevenths of such interest pay-
ment, and the amount of contributions paid, shall be credited to the
account of the member in the members’ contribution account.

(c) In order for the additional service provided for in subsections
(a) and (b) of this section to be considered in the computation of any
retirement allowance payable in the event of a member’s retirement under
§ 51-111.56, the member shall have submitted at the time payment or
repayment is made, a medical report satisfactory to the Medical Board
showing that the member was at such time of sound mind and body.
(d) An administrative charge of five dollars shall be paid by the
member to the retirement system when requesting a cost estimate of the
amount of such payment or repayment under subsection (a) or (b) of
this section.

(e) Any State employee or teacher member of the retirement system
in service with full time salaried service as a State employee, or teacher,
prior to July one, nineteen hundred forty-two, and heretofore not credited
therewith, shall be credited with such prior service, provided, since becom-
ing a member of the retirement system, five or more years of membership
service has been credited such member, and, provided, further, the mem-
ber’s contributions were not withdrawn under § 51-111.68 of the Code of
Virginia, and if withdrawn under either, or both § 51-109 of the abolished
system, or § 51-111.58 of this chapter, have been repaid under subsection
(a) of this section. .

(f) Any State employee member elected to a covered position by a
joint vote of the two Houses of the General Assembly of Virginia and
which position was for a period excluded under the abolished system, may
be credited with service during such period by paying the member con-
tributions which would have been payable, except for the exclusion.

(g) Any clerk of a county court who is a member of the retirement
system, or any member of the retirement system who since July one, nine-
teen hundred sixty, has been a State employee member and who has not
withdrawn, since becoming a member of the retirement system or the
abolished system, his accumulated contributions may, if im service, be
credited with full time service as a clerk of a county court prior to July
one, nineteen hundred sixty; provided, that such credit for the pertod
between July one, nineteen hundred fifty-nine, and July one, nineteen hun-
dred sixty, shall be allowed a member only if he pays, prior to July one,
nineteen hundred sixty-three, the employee contributions which would
have been payable had his position been included in the retirement system
during such period.