Section 21073.1 Of Article 2. Second Tier Retirement—state From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 12. >> Article 2.
21073.1
. (a) Effective January 1, 2000, a member who elects to
receive service credit under Section 21354.1, as authorized by
Section 21073.7, for time during which the member received service
credit subject to Section 21076 or 21077, shall deposit an amount
equal to any accumulated contributions the member withdrew pursuant
to Section 20737, plus the interest that would have been credited to
the member's account had the contributions not been withdrawn, and
any contributions the member would have made, plus an amount equal to
the interest that would have been credited to those contributions,
had the member not been subject to Section 21076 or 21077. This
deposit shall be made in a lump sum or by installments, with interest
through the completion of payments, over that period and subject to
minimum payment amounts as may be prescribed by regulations of the
board. Alternatively, this deposit requirement may be satisfied by an
actuarial equivalent reduction in the member's retirement allowance.
(b) The board, in addition to its general rulemaking authority
under Section 20121, may adopt regulations that implement this
section. Those regulations shall be exempt from review by the Office
of Administrative Law. However, the board shall transmit those
regulations to the Office of Administrative Law for filing with the
Secretary of State and publication in the California Code of
Regulations.
(c) The amendments to this section enacted during the first year
of the 1999-2000 Regular Session are subject to the limitations set
forth in Section 21251.13.