139. An employee who, on 31 December 1987, was a peace officer included in the bargaining unit referred to in section 1 who became a member of this plan on 1 January 1988 and who was redeeming years and parts of a year of service on 31 December 1987 or an employee who, on 31 December 1991, was an intermediate officer holding employment in a house of detention or a person belonging to a class or subclass of employees determined under subparagraph 2 of the first paragraph of section 1.1, who became a member of this plan on 1 January 1992 and who was redeeming years and parts of a year of service on 31 December 1991 may continue to pay the redemption costs according to the terms and conditions prevailing under his former pension plan. The service concerned shall be credited under this plan to the extent determined pursuant to section 22 or, as the case may be, section 23, but in proportion to the sums that will effectively be paid by the employee, excluding interest, on the total redemption costs. The sums paid by the employee after the date of the transfer of the sums to the consolidated revenue fund pursuant to section 135 shall, however, be deposited into that fund.
Any employee other than an employee mentioned in the first paragraph who is redeeming years and parts of a year of service under a pension plan referred to in section 22 at the time he begins to pay contributions to this plan must pay in full the balance of the redemption costs within 30 days a notice to that effect is mailed by the Commission. The service in respect of which redemption costs are paid after the employee begins to pay contributions to this plan must be taken into consideration in calculating the actuarial value of the benefits and shall be credited to the extent determined pursuant to section 23.
1987, c. 107, s. 139; 1991, c. 77, s. 34; 1992, c. 16, s. 3.