The members' contribution account shall be the account to which all members' contributions,
as provided in this Act, shall be credited. From this account shall be paid any refund
of contributions to a member terminating his service other than by retirement or death;
and at the time a member retires or dies, his account balance shall be transferred
to the retirement allowance account as defined in Section 1.08. Contributions by a
member shall be deducted from his earnings for each payroll period subsequent to his
becoming a member; and the amount so deducted shall be deposited in the Fund by the
Davidson County Trustee and credited to the member's individual account of the members'
contribution account. Contributions by members provided for in this Act shall be made
notwithstanding that the minimum compensation provided by law for any member shall
be reduced thereby. Every member shall be deemed to consent and agree to the payroll
deductions made as provided in this Act; and payment of salaries or wages, less such
deductions, shall be a full and complete discharge of all claims for services rendered
by such members during the period covered by such payment.
In the case of a member of Division B who voluntarily elects to transfer his membership
to Division A in accordance with the provisions of this Act, an amount equal to the
required taxes under the Federal Insurance Contributions Act payable by such member
of Division B for the period beginning January 1, 1956, and ending on the date coverage
under the Social Security Act is extended to such member of Division B shall be deducted
from amounts credited to his individual account of the members' contribution account.
var val = document.getElementById('citecontent').innerHTML;
art.dialog.defaults.title = window.location.href;
art.dialog.data('cite', val);
art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');
