30
THE RETIREM ENT A C T ;
(Continued from' Page 29)
ties estim ated b y the actu ary to accrue to
the system on account of service b y school
teachers prior to J u ly 1, 1946.
Section 16. (1) In the event that an em
ploye who is a m em ber of the system , who
has contributed to the fu n d for 10 years,
and who has not attained his earliest re
tirem ent age, is separated, for any reason
other than death or disability, fro m all
service entitlin g him to m em bership in the
system , his account shall rem ain to his
credit in the fu n d and there shall be paid
such death benefits as this act provides or
a disability retirem ent allow ance or, after
attaining his earliest retirem ent age, a ser
vice retirem ent allow ance, w hich shall con
sist o f ,1) an annu ity w hich shall be the
a ctu arial equivalent o f his accum ulated
contributions and interest thereon credited
to him and (2) a pension provided b y the
contributions of his em ployers equal to the
an n u n ity provided by his accum ulated con
tributions on his salary up to $200 per
m onth.
(2) In the event that an em ploye who is
a m em ber o f the system , who has contribu
ted to the fu n d fo r less than 10 years, and
who has not attained his earliest service
retirem ent age, is separated, fo r an y reason
other than death or d isab ility, from all
service entitlin g him to m em bership in the
system , he m ay w ithdraw from the fund
the am ount credited to him in his account.
(3) W henever, w ithin fiv e years after so
w ithdraw ing the am ount so credited to
h im , such an em ploye re-enters the service
o f an em ployer p articipating in the sys
tem , his rights in the system w hich were
forfeited b y the w ithdraw al shall be re
stored upon his rep aying to the board the
fu ll am ount so w ithdraw n.
(4) A n em ploye shall cease to be a m em
ber o f the system (a) in the event th at he
is absent from the service of a ll em ployers
p articipating in the system fo r a total o f
m ore than 5 years du ring any 6-year period
after he becomes a m em ber o f the system
or (b) in the event th at during any ab
sence from such service he w ithdraw s the
am ount credited to his account in the fu n d .
(5) N o transfer after Ju ly 1, 1946, b y a
m em ber o f the system from the service of
one em ployer p articip atin g in the system
to the service of another such em ployer
shall im pair an y rights or deprive him o f
any credits accru in g to him as a result o f
his m em bership in the system after Ju ly 1,
1946, and prior to the transfer.
Section 17. (1) W ithin the lim its h ere
after specified regarding absence fro m ser
vice, no leave of absence, sabbatical leave,
illness, accident, or em ergency preventing
or interrupting service by an em ploye to
an em ployer p articipating in the system
shall be deemed to break the continutiy o f
the em ploye’s m em bership in the system .
(2) A n y em ploye o f an em ployer p arti
cipating in the system who entered the
aim qd forces o f the U nited States after
Septem ber 15, 1940, and prior to the tim e
-this act takes e ffect or enters the arm ed
forces h ereafter and who, w ithin one year
after being honorably discharged therefrom
returned to the service of the em ployer
prior to the tim e this act takes e ffe ct or
returns to it hereafter shall be entitled, sub
je c t to the lim itations o f this act, to credit
for all his service to the em ployer prior to
the tim e this act takes efect and to credit
for all his service in the arm ed forces after
Septem ber 15, 1940, as if he had been an
em ploye o f the em ployer throughout his
service in the arm ed forces after th at date.
Section 18. (1) W ithin one year after the
term ination o f the present w ar but not b e
fore J u ly 1, 1947, a police o ffice r or firem an
who is a m em ber o f the system and who
has attained the age of 60 shall be retired
from service and thereafter, excep t as this
act otherwise provides, the date o f his re-'
tirem ent shall be the first day o f the c a l
endar m onth n e x t succeeding the one in
w hich he attains th at age.
(2) W ithin one year after the term ina
tion o f the present w ar but not before Ju ly
1, 1947, any other em ploye who is a m em ber
o f the system and who has attained the
age o f 65 and who is not su b ject to the
teachers’ tenure law shall be retired from
service and thereafter, except as this act
otherw ise provides, the date o f his retire
m ent shall be the first day of the calendar
m onth n e x t succeeding the one in w hich he
attains that age.
(3) A police o fficer or firem an, who is a
m em ber o f the system and reaches the age
o f 60 and any other em ploye who is a
m em ber o f the system and reaches the age
o f 65, except a person su b ject to the
teachers tenure law , m ay be continued
in service fo r successive periods o f one year
each, upon w ritten recom m endation of
the adm inistrative head o f his em ployer
th at continued service on his part is in
SAND, GRAVEL & CRUSHED ROCK
Delivered Anywhere
Gales Creek Sand & Gravel Co.
R.F.D. No. 1
Forest Grove
PHONE 1609-R
If no answer
Call 263-J