A member may have forfeited credited service restored to his or her individual service account upon satisfaction of each of the following conditions:
(A) Membership recommenced within 10 years from and after the last date of termination of membership;
(B) The retirement system is paid the total amount of accumulated contributions previously withdrawn plus regular interest from the date(s) of withdrawal to the date(s) of repayment. Repayment shall be made in accordance with such rules as the Board of Trustees shall from time to time prescribe; and
(C) Effective for transfers of benefits after December 31, 2001, a member who wishes to have forfeited credited service reinstated may make a direct trustee-to-trustee transfer of benefits, as permitted by §§ 413(b)(13)(B) and 457(e)(17)(B) of the United States Internal Revenue Code, from:
(1) An annuity contract described in § 403(b) of the United States Internal Revenue Code; or
(2) An eligible plan under § 457(b) of the United States Internal Revenue Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state to repay to the retirement system the accumulated contributions previously withdrawn by the member, plus regular interest required to restore credited service.
(Ord. passed 11-20-1980; Am. Ord. 02-01, passed 6-27-2002; Am. Ord. 02-02, passed 6-30-2002; Am. Ord. 09-01, passed 2-5-2009)