(A) Any former participant who ceases to be an active participant in the retirement system by reason of termination of service from the city may, within 180 days of becoming an active participant, apply to the Retirement Board for reinstatement of the most recent prior years of service, up to a maximum of three years of service. A former participant who has forfeited his or her rights under § 35.115 shall not be eligible for reinstatement under this section.
(B) for any reinstatement pursuant to division (A) of this section, the Retirement Board shall reinstate the person’s prior service provided, if the person had received a refund of his participant contributions, the reinstatement shall only be granted upon the person’s payment into the retirement system of the amount paid to the participant as a refund of the participant’s contributions, plus interest compounded annually at the actuarially-assumed retirement system interest rate in effect for the Plan Limitation Year for the period between the refund and the time of the reinstatement.
(Ord. passed 1-24-2011; Ord. passed 3-24-2014)