38-742. Reinstatement
A. If an active member who received a return of contributions on termination of
employment and by receipt of those contributions forfeited credited service earned on
that employment, as provided in section 38-740, subsection A or B, is subsequently
reemployed by an employer, the member's service shall be credited only from the date the
member's most recent reemployment period commenced.
B. Notwithstanding subsection A of this section, the member may redeposit the
amount of the contributions the member received at the time of the member's separation
from service, with interest on that amount to the date of redeposit at the interest rate
assumption approved by the board for actuarial equivalency. On satisfaction of this
obligation, the member's service credits acquired by the previous employment shall be
reinstated. The member is subject to the benefits and duties in effect at the time of
the member's most recent reemployment except as provided in section 38-711, paragraph 5,
subdivision (a). If a member redeposits less than the amount required under this
subsection, ASRS shall proportionately reduce the member's reinstated service credits.
C. A member who is receiving benefits pursuant to section 38-797.07 and who
received a return of contributions on termination of employment and by receipt of those
contributions forfeited credited service earned on that employment, as provided in
section 38-740, subsection A or B, may redeposit the amount of the contributions the
member received at the time of the member's previous separation from service, with
interest on that amount to the date of redeposit at the interest rate assumption approved
by the board for actuarial equivalency. On redeposit of the contributions and interest,
the member's service credits acquired by the previous employment shall be reinstated.
The member is subject to the benefits and duties in effect at the time of the member's
most recent reemployment except as provided in section 38-711, paragraph 5, subdivision
(a). If a member redeposits less than the amount required under this subsection, ASRS
shall proportionately reduce the member's reinstated service credits.
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