§17703. Former members
Any former member who withdrew his contributions after termination of service and who again becomes a member may repay his earlier contributions to the Members' Contribution Fund under the following conditions. [PL 1985, c. 801, §§5, 7 (NEW).]
1. Time. The repayment must be made before the date any retirement benefit becomes effective for the member.
[PL 2003, c. 630, Pt. B, §1 (AMD).]
1-A. Exception.
[PL 2003, c. 630, Pt. B, §2 (RP).]
2. Manner of repayment. The repayment must be made to the applicable retirement program by a single direct payment or by annual direct payments. Annual repayments must be made as provided in section 17701, subsection 4.
[PL 2007, c. 491, §108 (AMD).]
3. Amount of repayment. The amount of repayment must be equal to the accumulated contributions withdrawn by the person plus interest on the amount of those accumulated contributions, beginning on the date of withdrawal to the date the repayment or repayments are made, at a rate, to be set by the board, not to exceed regular interest by 5 or more percentage points.
[PL 1985, c. 801, §§5, 7 (NEW).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 1989, c. 710, §3 (AMD). PL 1991, c. 325 (AMD). PL 1991, c. 580, §5 (AMD). PL 2003, c. 261, §5 (AMD). PL 2003, c. 630, §§B1,2 (AMD). PL 2007, c. 491, §108 (AMD).
Structure Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 20: STATE RETIREMENT SYSTEM
Chapter 423: STATE EMPLOYEES AND TEACHERS
5 §17701. Member contributions
5 §17701-A. Member contributions; members hired after July 1, 1992
5 §17701-B. Member contributions on and after July 1, 1993
5 §17702. State payment of member share in lieu of member contribution
5 §17704. Back contributions (REPEALED)
5 §17704-A. Back contributions; elected and appointed officials (REPEALED)
5 §17704-B. Back contributions for certain days off without pay
5 §17704-C. Continued eligibility to purchase back time
5 §17705. Refund of accumulated contributions (REPEALED)
5 §17705-A. Refund of accumulated contributions
5 §17706. Inactive accounts (REPEALED)
5 §17707-A. Members in 1998 Special Plan; contributions after June 30, 1998
5 §17708-A. State Police; members hired after July 1, 1992
5 §17708-B. State Police; contributions on and after July 1, 1993
5 §17709. Inland Fisheries and Wildlife officers
5 §17709-A. Inland fisheries and wildlife officers; members hired after July 1, 1992
5 §17709-B. Inland fisheries and wildlife officers; contributions on and after July 1, 1993
5 §17710. Marine Resources officers
5 §17710-A. Marine resources officers; members hired after July 1, 1992
5 §17710-B. Marine resources officers; contributions on and after July 1, 1993
5 §17711-A. Forest rangers; members hired after July 1, 1992
5 §17711-B. Forest rangers; contributions on and after July 1, 1993
5 §17712. Maine State Prison employees
5 §17712-A. Maine State Prison employees; members hired after July 1, 1992
5 §17712-B. Maine State Prison employees; contributions on and after July 1, 1993