Bill > S1331

This bill allows certain members of the state employees’ retirement system to count previous service towards their retirement benefits, even if their pay came from a specific "subsidiary account 03" of a state department's appropriation, which is a way state funds are tracked. To get this "creditable service," these individuals must pay back into the Annuity Savings Fund what they would have contributed as regular deductions if they had been state employees at the time, plus interest, and this payment can be made in a lump sum or installments as determined by the state board of retirement. The bill also clarifies that part-time employees paid from subsidiary account 03 will receive creditable service proportionally to their service, and eligible members will be notified of their options to purchase this service within 180 days of notice, requiring documentation to prove their service history.