72-2699. Same; refunds, when; accepting service in another city operating under this act; voluntary retirement; payment to heirs, when. If at any time a teacher or other public school employee who is willing to continue, is not re-employed or is discharged before the time when he or she would, under the provisions of this act, be entitled to a pension, then such teacher or other public school employee shall be paid back at once the money, without interest, he or she may have contributed under this act. Should a teacher or other public school employee duly accredited in a city of the first class, accept service in the public schools of another city of the first class, operating under this law, a sum equivalent to all payments, without interest, made by such teacher or other public school employee into the retirement fund shall be transferred to the retirement fund of the city in which such service is accepted. Any teacher or other public school employee who shall retire voluntarily from the service shall receive a refund of one-half of the money, without interest, he or she shall have contributed under this act.
And should any teacher or other public school employee die before receiving any of the benefits or pensions by this act provided, the board of education shall pay to such teacher's or other public school employee's heirs or estate the entire sum, without interest, which such teacher or other public school employee shall have paid into such pension fund; and further, if such teacher or other public school employee is retired as an annuitant at the time of his or her death, then if such an annuitant shall have died before he or she has received one year's annuity, the heirs or estate of such annuitant shall receive an amount from said fund equal to the difference between the amount such deceased teacher or other public school employee has received and the amount he or she would have received under this act had he or she lived for one year after retirement under this act.
History: L. 1941, ch. 340, § 5; June 30.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.