Guest slt Posted December 21, 1999 Posted December 21, 1999 Does anyone know if a local agency's withdrawal from a state retirement system constitutes a plan termination for defined benefit distribution purposes? In other words, if a local agency participates in a state's retirement system and then elects insttead to join a county retirement system, has the "plan" been terminated? Are the participants entitled to a distribution? Thanks!
Guest Ralph Amadio Posted December 31, 1999 Posted December 31, 1999 Not enough information, but here goes: State plans will typically establish their relationship with county and local plans by statute, providing reciprocity, fund transfer, frozen benefits or some other method. If your state does not do this, then look for guidance in the State Constitution as to the guarantees of safety of public employee benefits. If you will provide your State, I can possibly assist.
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