§ 19-957-1. County retirement system — Eligibility – Contribution limits.

The county commissioners of any county establishing a drainage district or districts, and establishing a county retirement system, in addition to the duties and authority now provided by law, are hereby authorized to pay into the retirement system of such county for the use and benefit of the employees eligible for retirement benefits, such amounts as the said board of county commissioners may authorize by resolution not exceeding the current annual salaries of all employees to be covered in the following percentages:

July 1, 2009 - June 30, 201015 1/2%

July 1, 2010 - June 30, 2011 and each year thereafter              16 1/2%

Beginning July 1, 2009, the total employer and employee contributions shall not exceed sixteen and one-half percent (16.5%) of the monthly compensation of each member.  Provided further, that drainage district employees becoming qualified by this act shall be credited as to eligibility for the full time of their county employment; and, provided further, in the event of retroactive eligibility such employees shall be required to pay into the retirement system fund an amount equal to that which would have otherwise been paid by such employees in order to gain credit for such time of employment.

Added by Laws 1968, c. 281, § 1, emerg. eff. May 3, 1968.  Amended by Laws 2009, c. 88, § 1, eff. July 1, 2009.