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Incomplete payments - 71 Pa. Cons. Stat. § 5506

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     § 5506.  Incomplete payments.
        In the event that a member terminates State service or a
     multiple service member who is an active member of the Public
     School Employees' Retirement System terminates school service
     before the agreed upon payments for credit for previous State
     service, creditable nonstate service, social security
     integration, full coverage membership or return of benefits on
     account of returning to State service or entering school service
     and electing multiple service have been completed, the member or
     multiple service member who is an active member of the Public
     School Employees' Retirement System shall have the right to pay
     within 30 days of termination of State service or school service
     the balance due, including interest, in a lump sum and the
     annuity shall be calculated including full credit for the
     previous State service, creditable nonstate service, social
     security integration, or full coverage membership. In the event
     a member does not pay the balance due within 30 days of
     termination of State service or in the event a member dies in
     State service or within 30 days of termination of State service
     or in the case of a multiple service member who is an active
     member of the Public School Employees' Retirement System does
     not pay the balance due within 30 days of termination of school
     service or dies in school service or within 30 days of
     termination of school service and before the agreed upon
     payments have been completed, the present value of the benefit
     otherwise payable shall be reduced by the balance due, including
     interest, and the benefit payable shall be calculated as the
     actuarial equivalent of such reduced present value.
     (Oct. 7, 1975, P.L.348, No.101, eff. imd.; May 17, 2001, P.L.26,
     No.9, eff. July 1, 2001)

        Cross References.  Section 5506 is referred to in sections
     5303, 5702 of this title.

Last modified: November 27, 2007