§ 36-9-26. Credits for layoffs. (a) Members who are laid off for any reason and are not on leave without pay may purchase up to one years' credit for retirement purposes; provided the member did not withdraw his or her retirement contributions while on layoff, and returns to active membership; provided, further, that the member purchases that credit upon his or her return to service from the layoff and pays into the retirement system the full actuarial cost as defined in subsection 36-8-1(10).
(b) The retirement board shall fix and determine rules and regulations to govern the provisions of this section.
History of Section. (P.L. 1983, ch. 313, § 1; P.L. 1988, ch. 520, § 1; P.L. 1989, ch. 474, § 1; P.L. 2009, ch. 68, art. 7, § 2; P.L. 2011, ch. 408, § 6; P.L. 2011, ch. 409, § 6.)
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