Pennsylvania Code
Title 4 - ADMINISTRATION
Part X - STATE EMPLOYEES' RETIREMENT BOARD
Chapter 245 - CONTRIBUTIONS
Section 245.6 - Incomplete payments

Universal Citation: 4 PA Code ยง 245.6

Current through Register Vol. 54, No. 44, November 2, 2024

(a) Who may make incomplete payments. The right of a member to complete payments, once commenced, within 30 days after termination of State service, as provided in section 5506 of the code (relating to incomplete payments), shall be available only to the member and to no other person, including a beneficiary.

(b) Result of incomplete payments. In the event a member fails to pay the balance of the agreed upon payments due within 30 days after termination of State service, or in the event a member dies in State service, the annuity benefit to which he would otherwise be entitled including a disability benefit, shall be reduced by the actuarial equivalent of the debt, including statutory interest. In the event the Board must satisfy a credit union loan and the member dies in service or terminates service thereafter, leaving the indebtedness unpaid for more than 30 days, the Board will cause to be deducted from the member's benefit, the amount of the total debt, at which time, the benefit shall be payable to such member.

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