397b

(a) On the effective date of this act, the retirement benefits accumulated by System participants who entered public service before August 1, 2014, based on the years of service accumulated and the average salary as of that date, shall be kept by them. Such accumulated benefits shall be computed in accordance with §§ 396-396i of this title.(b) Participants who, as of July 31, 2014, were entitled to retire and receive some sort of pension under this chapter for having met the years of service and age requirements provided herein, shall retire on a subsequent date and be entitled to receive the corresponding pension computed under § 396c of this title based on the salaries earned and years of service accrued as of July 31, 2014, plus the amount to which they are entitled under the Defined Contribution Program.(c) As of August 1, 2014, participants shall not accumulate additional years of service for purposes of determining the average salary and computing the pension under the Defined Contribution Program. Participants shall not obtain contributions for periods worked before July 31, 2014, except for those exceptions expressly established in this chapter. History —Dec. 24, 2013, No.

ntribution Program. Participants shall not obtain contributions for periods worked before July 31, 2014, except for those exceptions expressly established in this chapter. History —Dec. 24, 2013, No. 160, § 5.3.