(1) Notwithstanding any limitations contained in section 24-53-101 (3)(e) and (5), any of the coverage groups participating in an existing retirement system on March 17, 1955, and described in subsection (2) of this section may, effective January 1, 1955, or any time thereafter, be covered pursuant to the provisions of sections 24-53-101 to 24-53-107 extending the benefits of the federal social security act pursuant to the additional terms and conditions set forth in subsection (3) of this section.
(2) Coverage groups:
Positions in each state institution of higher education covered on March 17, 1955, byannuity contracts with each such institution and the teachers' insurance and annuity association;
Positions in any individual municipal corporation or subdivision thereof having aseparate existing retirement system operated singly and independently from any other municipal corporations or subdivisions thereof, except for policemen and firefighters;
Positions in any municipal corporation which has less than five employees coveredas of March 17, 1955, by an existing retirement system supported in whole or in part by said municipal corporation. This coverage group constitutes a separate retirement system for purposes of the social security act, as amended.
(3) Terms and conditions:
(a) The governor has certified to the secretary of health and human services that:
A referendum by secret written ballot was held on the question of whether service inpositions covered by such retirement system should be included pursuant to an agreement; and
An opportunity to vote in such referendum was given, and was limited, to all eligibleemployees; and
Not less than ninety days' notice of such referendum was given to employees eligible to vote in such referendum; and
Such referendum was conducted under the supervision of the governor or an agencyor individual designated by him; and
Two-thirds of the eligible employees voted in favor of including service in suchpositions under an agreement.
The appropriate governing body of the coverage group as defined in subsection (2) ofthis section has given approval to the holding of the referendum.
A referendum has not been conducted during a period of one year immediately preceding the referendum.
A referendum was requested by at least ten percent of the employees eligible to votein such referendum.
The notice of referendum has been accompanied by a statement to the effect that,with respect to both present and future members, the existing retirement system may be revised so that the retirement benefits of each individual member and the benefits of his dependents and those individuals entitled to benefits on account of the membership in such system of any such members pursuant to any revised retirement system and pursuant to the federal old-age, survivors', disability, and health insurance system shall be at least equal to the benefits which would have been payable to them under the existing retirement system. Former members already retired and their dependents and those individuals entitled to benefits on account of the membership in such system of any such member shall continue to receive the full benefits to which they are entitled pursuant to the existing system.
The retirement benefits of each individual member and the benefits of his dependentsand individuals entitled to benefits on account of membership in such system of any such members pursuant to any revised retirement system and the federal social security act shall be at least equal to the benefits which would have been payable to them pursuant to the existing retirement system.
For purposes of the referendum required in subsection (3) of this section, an employee shall be deemed an "eligible employee" with respect to any retirement system if, at the time such referendum was held, he was in a position covered by such retirement system and was a member of such system and if he was in such a position at the time notice of such referendum was given as required in subsection (3) of this section; except that he shall not be deemed an "eligible employee" if, at the time the referendum was held, he was in a position to which the state agreement already applied.
No referendum with respect to a retirement system shall be valid unless held withinthe two-year period which ends on the date of execution of the federal-state agreement or modification which extends the insurance system established pursuant to the federal social security act to such retirement system, nor shall any referendum with respect to a retirement system be valid if held less than one year after the last previous referendum held with respect to the retirement system.
Source: L. 87: Entire article added, p. 1084, § 2, effective July 1. L. 97: (2)(b) amended, p. 1020, § 36, effective August 6.