19-7-1101. Reemployment of retired members -- contributions required. (1) A retired member who returns to covered employment for 480 hours or more in a calendar year must become an active member of the system. Upon reinstatement as an active member, benefit payments must cease until subsequent retirement.
(2) A retired member who returns to covered employment for less than 480 hours in a calendar year may not become an active member. The retirement benefit of a retired member in covered employment must be reduced by $1 for each $3 earned in excess of $5,000 in a calendar year.
(3) Retired members who return to active service pursuant to subsection (1) are subject to the employee and employer contributions set forth in 19-7-403 and 19-7-404.
(4) The employer of a retired member who is returning to covered employment pursuant to subsection (2) shall contribute the amounts specified in 19-7-404.
History: En. Sec. 152, Ch. 265, L. 1993; amd. Sec. 84, Ch. 99, L. 2001; amd. Sec. 20, Ch. 128, L. 2007; amd. Sec. 2, Ch. 239, L. 2013; amd. Sec. 22, Ch. 195, L. 2017.
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