19 Del. Admin. Code § 2004-7.0 - Return to Work Post-Retirement

7.1 Gubernatorial appointment. The phrase "An official appointed by the Governor" as used in 11 Del.C. § 8352 (a)(2) means an official appointed directly by the Governor and confirmed by the Senate.

7.2 Repayment of withdrawal benefits.

7.2.1 If a former employee, who withdrew his or her accumulated contributions upon termination of service again becomes an employee, his or her service credits to the date of termination shall be restored in accordance with the provisions of 11 Del.C. § 8364 (b)(3), if he or she repays the total amount withdrawn, plus an interest rate charge as adopted by the Board, compounded annually, within ninety 90 days after notification from the Office of Pensions.

7.2.2 If the repayment occurs after the ninety (90) days following written notification of such repayment option from the Office of Pensions, the repayment shall be equal to the amount in subsection 7.2 .1 plus, for each full month or fraction thereof following the last day of the ninety (90) day period, interest rate charge as adopted by the Board.

7.2.3 Any interest rate charges collected under subsections 7.2 .1 and 7.2.2 of this regulation shall not be considered part of accumulated contributions and shall not be refunded if the former employee takes a refund of accumulated contributions subsequent to a repayment.

Notes

19 Del. Admin. Code § 2004-7.0

25 DE Reg. 272 (9/1/2021) (final)