HOUSE BILL NO. 12
AS AMENDED BY
HOUSE AMENDMENT NO. 1
AN ACT TO AMEND CHAPTER 88, TITLE 11, DELAWARE CODE RELATING TO CREDITED SERVICE FOR THE COUNTY AND MUNICIPAL POLICE/FIREFIGHTER PENSION PLAN.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. Amend § 8801, Chapter 88, title 11, Delaware Code by striking the word “and” at the end of subsection (3)(b), and by striking the period “.” at the end of subsection (3)(c) and substituting in lieu thereof the following:
(d) Service with a police department not covered under Title 11 of the Delaware Code, Section 8801(6) by someone who is subsequently employed as a police officer by a County or Municipality in Delaware which has affiliated with the Fund established by this Chapter may receive credit for such previous service upon payment to the Fund, on or before the date of issuance of the individual’s first benefit check, of a single lump sum payment equal to the actuarial value of the pension benefits to be derived from such service credits compiled on the basis of actuarial assumption approved by the board and the individual’s attained age and final average compensation.”.
Approved June 12, 2003