§ 8-34-623 — Transfer of service from Group 1 or 3 to Group 4

(a) Notwithstanding any law to the contrary, any Group 1 or 3 state judge defined herein shall be eligible to elect to transfer any service previously established as a state judge, member of a constitutional convention as provided by § 8-34-608 , and military service as provided by § 8-34-605 , from Group 1 or 3 to Group 4 of the retirement system. It is further provided that such transfer of service shall occur upon the election by the member and the lump sum payment, if applicable, of the difference between what the member would have contributed as a member of Group 4 and the amount of employee contributions to the member's credit on the effective date of transfer. If such election and transfer of service and applicable payment occurs within one hundred eighty (180) days of September 1, 1990, it shall be without interest. An election, transfer of service and payment occurring after one hundred eighty (180) days of September 1, 1990, shall include interest pursuant to § 8-37-214 . (b) Notwithstanding any law to the contrary, any Group 1 attorney general and reporter, who served as a Group 4 state judge immediately prior to being appointed as the attorney general and reporter, shall be eligible to elect to transfer any service previously established as the attorney general and reporter, member of a constitutional convention, as provided by § 8-34-608 , and military service, as provided by § 8-34-605 , from Group 1 to Group 4 of the retirement system. Such transfer of service shall occur upon the election by the member and the lump sum payment, if applicable, of the difference between what the member would have contributed as a member of Group 4, and the amount of employee contributions to the member's credit on the effective date of transfer, plus interest at the rate provided in § 8-37-214 .

Legislative History

Acts 1986, ch. 554, § 4; 2005, ch. 498, § 4.