Current through the 2023 Regular Session
Section 19-20-417 - Credit for substitute teaching service, teacher's aide service, or other service not reported(1) A substitute teacher or part-time teacher's aide who has filed an irrevocable election with their employer not to participate in the retirement system for the first 210 hours of service under 19-20-302 and who subsequently becomes a member within the same fiscal year must be awarded creditable service for the first 210 hours of service if the member contributes the employee and employer contributions that would have been made if the member had been a member from the first date of service in that fiscal year, plus interest at the current actuarial assumed rate of investment return.(2) A person who was employed in a capacity that would have been eligible for membership except for the fact that the person was employed for less than 30 days and who subsequently becomes an active member within the same fiscal year may purchase the first 30 days of service if the member contributes the employee and employer contributions that would have been made if the person had been a member from the first date of service in that fiscal year, plus interest at the current actuarial assumed rate of investment return.(3) If an employer fails to report a person who was eligible for membership under 19-20-302, the employee and employer shall make the contributions required by this chapter, plus interest at the current actuarial assumed rate of investment return.(4) The contributions and interest may be made in a lump-sum payment or in installments as agreed to between the person and the board.(5) Only one service purchase may be made by any member under subsection (1) or (2).Amended by Laws 2023, Ch. 245,Sec. 4, eff. 7/1/2023.En. Sec. 11, Ch. 111, L. 1999; amd. Sec. 15, Ch. 45, L. 2001.