On or before July 1, 2013, a judge, family support magistrate or compensation commissioner who is in service as a judge, family support magistrate or compensation commissioner on June 15, 2012, may make a one-time irrevocable election to begin paying the actuarial pension cost of maintaining the normal retirement eligibility existing in the retirement plan such judge, family support magistrate or compensation commissioner is participating in on June 15, 2012, but the eligibility requirements of which are scheduled to change effective July 1, 2022. The cost of making such an election shall be established by the plan's actuaries and such cost shall be communicated to judges, family support magistrates and compensation commissioners by the Retirement Division of the Office of the Comptroller. The irrevocable election shall be made on a form prescribed by the State Employees Retirement Commission and shall indicate the judge's, family support magistrate's or compensation commissioner's election to participate or not participate. In the event a judge, family support magistrate or compensation commissioner fails to make an election on or before July 1, 2013, he or she shall not be eligible to participate. In the event a judge, family support magistrate or compensation commissioner makes a successful claim to the State Employees Retirement Commission of agency error, such judge, family support magistrate or compensation commissioner shall make payments in accordance with the state's usual practice.
(June 12 Sp. Sess. P.A. 12-1, S. 139.)
History: June 12 Sp. Sess. P.A. 12-1 effective June 15, 2012.
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