§ 27-17-06 — Immediate withdrawal of present active judges from judges retirement fund

1. From and after July 1, 1973, each judge of the supreme or district court serving on that
date and each former judge of the supreme or district court, not receiving judicial

retirement salary, may elect to withdraw the judge's previous contributions made
pursuant to this chapter, and thereafter not participate in a judicial retirement program
provided for by law. This option ceases to be available and may not be exercised after
June 30, 1975. If a judge selects this option, the judge is entitled to receive the
combined total of the following sums:
a. The entire amount of the judge's previous contributions made pursuant to this
chapter, to be calculated to the date of election under this section; plus
b. An amount calculated by applying the vesting schedule set forth in section
54-52-11 to an amount equal to sixty percent of the judge's individual
contributions as calculated in subsection 1, plus earnings thereon as calculated in
subsection 3; plus
c. An amount calculated by applying the figure .05625 to the periodic annual or
partial annual balances in the individual judge's account during the judge's years
of service prior to selecting the option provided by this section. The figure applied
pursuant to this subdivision must be compounded annually.
2. The total amounts received pursuant to this section may not be considered taxable
income for the purposes of chapter 57-38. Selection of the option provided by this
section must be made in writing to the director of the office of management and
budget.