Section 13-524. Other provisions relative to contributions of members  


Latest version.
  • a.
      Subject  to  the  provisions  of  subdivision  b  of  this  section,   a
      contributor  shall  not  be  required  to  continue to contribute to the
      annuity savings fund after he or she  shall  have  become  eligible  for
      service retirement. All contributions made thereafter to such fund shall
      be  voluntary.  However,  this  subdivision  a  shall  not  apply  to  a
      contributor who elects to contribute at a rate not in excess of  fifteen
      per  centum  in  accordance  with  the  provisions of subdivision two of
      section 13-521 and paragraph d of subdivision one of section 13-554,  as
      amended;  nor  shall  this  subdivision  apply  to a member who became a
      contributor to the  teachers'  retirement  system  subsequent  to  April
      thirtieth, nineteen hundred sixty-three.
        b.   The  provisions  of  subdivision  a  of  this  section  shall  be
      inapplicable to  a  twenty-year  pension  plan  contributor  and  to  an
      age-fifty-five-increased-benefits pension plan contributor.
        c.  A  twenty-year  pension  plan contributor shall not be required to
      contribute to the retirement system after the  later  of  the  following
      dates:
        (1)  the  date  on  which  he  or  she  becomes eligible to retire for
      service; or
        (2) the date on which his or her accumulated deductions equal  his  or
      her minimum accumulation.