Whenever a town employee who has so withdrawn his or her accumulated deductions and interest, shall re-enter the town employment within 5 years, the annuity rights forfeited by the employee at the time of the separation shall be restored upon repayment by the employee to the Retirement Fund of the full amount so withdrawn, together with an amount equal to the monthly salary deductions as he or she would have paid during the period of non-employment, plus interest at the rate of 4% compounded semi-annually, on the full amount of the payment as made to the Retirement Fund at the time of the reinstatement, and thereupon the employee shall resume his or her obligation as an employee with full rights and benefits as of the date he or she first became a contributor to the Retirement Fund.
(Ord. 341, passed 3-28-1951)