§ 47-3-84 - Credit for service rendered by members who have breaks in membership; payments required to obtain such credit - Georgia Statutes

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Statutes > Georgia > Title-47 > Chapter-3 > Article-5 > 47-3-84

O.C.G.A. 47-3-84 (2010)
47-3-84. Credit for service rendered by members who have breaks in membership; payments required to obtain such credit

Any provision of this chapter to the contrary notwithstanding, any teacher shall be entitled to have all teaching service included in computing creditable service, notwithstanding breaks in membership of more than four years, provided that such teacher pays into the retirement system an amount equal to the minimum required for continuous members, plus regular interest that would have accrued on such contributions during periods of nonmembership. No member shall receive credit for teaching service if contributions were not made during the teaching service or have not later been contributed with interest that would have accrued on such contributions, provided that after three years' membership service a member may reestablish previous credits by paying into the retirement system, prior to retirement, contributions equal to 10 percent of such compensation as he received during those years and for which he desires to establish previous credit, plus regular interest that would have accrued on such contributions.

State Codes and Statutes

Statutes > Georgia > Title-47 > Chapter-3 > Article-5 > 47-3-84

O.C.G.A. 47-3-84 (2010)
47-3-84. Credit for service rendered by members who have breaks in membership; payments required to obtain such credit

Any provision of this chapter to the contrary notwithstanding, any teacher shall be entitled to have all teaching service included in computing creditable service, notwithstanding breaks in membership of more than four years, provided that such teacher pays into the retirement system an amount equal to the minimum required for continuous members, plus regular interest that would have accrued on such contributions during periods of nonmembership. No member shall receive credit for teaching service if contributions were not made during the teaching service or have not later been contributed with interest that would have accrued on such contributions, provided that after three years' membership service a member may reestablish previous credits by paying into the retirement system, prior to retirement, contributions equal to 10 percent of such compensation as he received during those years and for which he desires to establish previous credit, plus regular interest that would have accrued on such contributions.

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State Codes and Statutes

Statutes > Georgia > Title-47 > Chapter-3 > Article-5 > 47-3-84

O.C.G.A. 47-3-84 (2010)
47-3-84. Credit for service rendered by members who have breaks in membership; payments required to obtain such credit

Any provision of this chapter to the contrary notwithstanding, any teacher shall be entitled to have all teaching service included in computing creditable service, notwithstanding breaks in membership of more than four years, provided that such teacher pays into the retirement system an amount equal to the minimum required for continuous members, plus regular interest that would have accrued on such contributions during periods of nonmembership. No member shall receive credit for teaching service if contributions were not made during the teaching service or have not later been contributed with interest that would have accrued on such contributions, provided that after three years' membership service a member may reestablish previous credits by paying into the retirement system, prior to retirement, contributions equal to 10 percent of such compensation as he received during those years and for which he desires to establish previous credit, plus regular interest that would have accrued on such contributions.