SENATE BILL NO. 353
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO PENSION PLANS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1 Amend Title 29, §5609 (a) of the Delaware Code by deleting that subsection in its entirety and replacing it with the following, and by renumbering current subsection (b) as (c):
"(a) No judge, while serving as a judge, shall be entitled to receive any other pension (i) payable by the State under any law of the State, (ii) for which the judge would otherwise he eligible because of the judge's prior service as an employee, officer, or elected or appointed official. Upon the judge's retirement or death, the judge or the person(s) entitled to survivor's benefits provided under this chapter shall be entitled to receive the pension benefits provided under this chapter as welt as any other pension benefits for which the judge or the person(s) entitled to survivor's benefits is eligible under any other pension plan payable by the State.
(b) Within 6 months after the effective date of this amendment, any judge who withdrew his or her contributions from any other pension plan payable by the State, shall be entitled to repay the contributions, with interest at a rate to be determined by the Board. Repayment in accordance with this subsection shall restore all pension benefits for which the judge would have been eligible under the other pension plan payable by the State had the judge not withdrawn his or her contributions."
Section 2. Amend Title 29 §5501 (b) (14) of the Delaware Code by adding a new subsection (d) as follows:
"(d) Years of service as a "member" as defined §5600 (1) of this title, provided that the individual is not accruing nor collecting benefits under Chapter 56 of this title. It shall not include service for which the employee has received the withdrawal benefit provided by §5612 (b) of this title, or the refund provided by §5608 (b) of this title, unless such benefit or refund is first repaid with interest at a rate determined by the Board before such service may be equalized,"
Section 3. Amend Title 29 §5521 (2) of the Delaware Code by adding to the end of the sentence as follows:
"and, the amount computed based on credited service as a member, according to Chapter 56 of this title."
Section 4. Amend §5605(b), Title 29 of the Delaware Code, by adding at the end of said subsection the following:
"Unless an election to participate in the Revised Platt is filed on or before December 15, 1998, a member first appointed before July 1, 1980 shall be deemed to have made an irrevocable election to remain in the Closed Plan."
Approved July 7, 1998