50. For the purposes of this division, except sections 46.1 and 54, contributions include every amount paid by the employee and every contributions from which he was exempt under this plan or under any other pension plan out of which the employee’s service was transferred to this plan, excluding any contribution deducted in excess for any year subsequent to the year 1986. Contributions also include any interest accrued on those amounts in accordance with the relevant pension plan. However, if, when service was transferred on an actuarially equivalent basis, the total amount of accumulated contributions exceeded the actuarial value of the benefits accrued under the new pension plan, contributions do not include the amount by which the total amount of accumulated contributions exceeds the actuarial value of the benefits accrued.
However, the sums paid by an employee who is an employee for the purposes of this plan or, pursuant to section 3.2, the Pension Plan of Management Personnel into a supplemental pension plan established by an employer party to those plans are reimbursed if the funds have been transferred to this plan.
1973, c. 12, s. 43; 1977, c. 21, s. 13; 1982, c. 33, s. 7; 1983, c. 24, s. 1; 1985, c. 18, s. 7; 1987, c. 47, s. 27; 1987, c. 107, s. 172; 1990, c. 87, s. 43; 2001, c. 31, s. 277; 2004, c. 39, s. 100.