Idaho Code 59-1360 – Cessation of Membership — Reinstatement
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 59-1360
- Accumulated contributions: means the sum of amounts contributed by a member of the system, together with regular interest credit thereon. See Idaho Code 59-1302
- board: means the board provided for in sections 59-1304 and 59-1305, Idaho Code, to administer the retirement system. See Idaho Code 59-1302
- Credited service: means the aggregate of membership service, prior service and disabled service. See Idaho Code 59-1302
- Employee: means :
Idaho Code 59-1302Fund: means the public employee retirement fund established by this chapter. See Idaho Code 59-1302 Member: means an active member, inactive member or a retired member. See Idaho Code 59-1302 person: includes a corporation as well as a natural person;
Idaho Code 73-114Retirement: means the acceptance of a retirement allowance under this chapter upon termination of employment and, unless otherwise provided by law, requires a termination of employment from an employer participating in PERSI, the judges retirement fund, the firefighters retirement fund or the optional retirement plan. See Idaho Code 59-1302
A person shall cease to be a member when the person’s accumulated contributions are paid to the person. After again becoming an employee the member may reinstate previous credited service by repaying to the retirement fund the full amount of all prior accumulated contributions provided such repayment includes payment of interest as determined by the board.