§ 625 Return of contributions; exemptions; qualified domestic relations orders

32 V.S.A. § 625 (N/A)
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§ 625. Return of contributions; exemptions; qualified domestic relations orders

(a) Any member whose retirement benefits are forfeited to any degree pursuant to section 623 of this title shall be entitled to a return of his or her contribution in the same manner as provided by the relevant retirement system.

(b) Notwithstanding the provisions of subsection (a) of this section, returns of contributions shall not be made or ordered unless and until the Civil Division of the Superior Court determines that the member whose retirement benefits have been forfeited to any degree pursuant to section 623 of this title has satisfied in full any judgments or orders rendered by any court of competent jurisdiction for the payment of restitution for losses incurred as a result of the crime related to public office. If the Court determines that the member whose retirement benefits have been forfeited to any degree under section 623 has failed to satisfy any outstanding judgment or order of restitution rendered by any court of competent jurisdiction that relates to the crime related to public office of which the member was convicted, it may order that any funds otherwise due such member as a return of contribution, or any portion thereof, be paid in satisfaction of the judgment or order.

(c) A provision of section 623 of this title or this section shall not be construed to prohibit or limit any payment made pursuant to a qualified domestic relations order issued prior to any such conviction and applicable to:

(1) any member who is convicted of any crime related to public office; or

(2) any State, county, or municipal agency responsible for the administration of such payment on behalf of such member.

(d) Notwithstanding the provisions of section 623 of this title, retirement benefits shall not be forfeited to any degree if the Internal Revenue Service determines that such forfeiture will negatively affect or invalidate the status of a retirement plan under the Internal Revenue Code, 26 U.S.C. § 401, or any subsequent corresponding Internal Revenue Code of the United States, as may be amended. (Added 2013, No. 2, § 1.)