(a) In connection with credited service transferred from the Defined Contribution Retirement System to the Retirement Fund under § 8503(d)(1), a member’s Member Account balances in the Defined Contribution System shall be transferred to the Defined Benefit 1.75 Retirement System in accordance with this Section.

(b) An amount equal to the lesser of a member’s:

(1) section 8208 and § 8209.1(a) account balances, if any; or

(2) actuarial cost of credited service, shall be transferred to the Defined Benefit 1.75 Retirement System as set forth in this § 8504(b).

(c) The actuarial cost of credited service for a member transferring to the Defined Benefit 1.75 Plan shall be funded first from the member’s § 8209.1(a) account, if any, and applied to the member’s § 8164(a) Member’s Contribution Reserve; any further amounts needed to fund up to the actuarial cost of credited service shall be funded next from the member’s § 8208 pre-tax account and applied to a pre-tax subaccount in the member’s § 8164(a) Member’s Contribution Reserve.

(d) Excess Account Balance, if any, attributable to a member’s § 8209.1(a) account shall remain in the member’s § 8209.1(a) account, except for amounts designated by the member
to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).

(e) Excess Account Balance, if any, attributable to a member’s § 8208 Member Contribution Account shall remain in the member’s § 8208 Member Contribution Account, except for amounts designated by the member to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).

(f) An amount equal to the member’s § 8209.1(b) account (Rollover Employer’s Contributions from § 8164(b), also referred to as the Transfer Incentive Reserve) shall remain in the member’s

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§ 8209.1(b) account, except for amounts designated by the member to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).

SOURCE: Added by P.L. 33-186:3 (Sept. 14, 2016). Amended by P.L.
34-042:XII:17(b) (Sept. 16, 2017).