(1)
- (a) Subject to 19-20-405, a vested member who has completed 1 full year of active membership in the retirement system subsequent to the member's participation in the university system retirement program pursuant to 19-21-201 and contributes to the retirement system as provided in subsection (2) may receive up to 5 years of creditable service in the retirement system for service covered under the university system retirement program.
- (b) Employment to be credited must be of an instructional nature, as an administrative officer, or as a member of the scientific staff with an individual contract under the authority of the board of regents.
- (c) A member may not receive credit for service as a student employed by the institution.
- (2) For each year of service to be credited under this section, the member shall contribute the actuarial cost of the service based on the most recent valuation of the system.
- (3) The contributions and interest may be made in a lump-sum payment or in installments as agreed between the person and the retirement board.
History: En. Sec. 7, Ch. 320, L. 2005; amd. Sec. 9, Ch. 282, L. 2013; amd. Sec. 20, Ch. 210, L. 2015.