§ 10387. — 10387. (Added by Stats. 2021, Ch. 116, Sec. 260.)

Every employee of a child development program who before their employment in the program was employed by the agency maintaining such program in a position entitling the employee to membership in, and who was a member of, the retirement system maintained by such district, and if such employee’s contributions to such retirement system were returned to the employee when the employee was employed in the program, such employee shall have the right to elect, by written document filed with the Board of Administration, Public Employees’ Retirement System, at any time within 90 days after the date upon which the notice of the right to make such election is mailed by such system, either to the member’s latest address on file in the office of such system, or to the office of the governing board of such agency or agencies, and prior to
the date of retirement, to contribute to such system, subject to minimum payments fixed by the Board of Administration, and in one or more sums, or in not to exceed 60 monthly payments, an amount which, when added to the employee’s accumulated contributions, including interest, transferred as required in paragraph (1) of subdivision (b) of Section 24810 of the Education Code, will make a total amount equal to the accumulated contributions, including interest, which would have been credited to the employee in such plan, if the employee had never had their contributions returned to them. Such employee shall pay to the Public Employees’ Retirement System interest on the unpaid balance of the amount payable to such system, beginning with the date of transfer, at the rate of interest currently used from time to time under the system. If such employee elects to make, and makes, such contributions and pays such interest, but not otherwise, the employee shall receive credit under such employees’ system, as state
service, for all prior service rendered while the employee was not a member of such plan.

Legislative History

Added by Stats. 2021, Ch. 116, Sec. 260. (AB 131) Effective July 23, 2021.