Service Credit:
The number of years earned through contributing service or purchased under the provisions of the plan. Service Credit is a factor in determining the monthly retirement benefit.
Status Date:
The date the employee’s status became effective.
Survivor Benefit Contribution:
This is applicable only to teachers who contribute to survivor benefits. The cost of the benefits provided is two percent (2%) of the member’s annual salary up to but not exceeding an annual total contribution of one hundred and ninety two dollars ($192); one-half ( 1/2) of the cost shall be contributed by the member by deductions from his or her salary, and the other half ( 1/2) shall be contributed and paid by the respective city, town, or school district by which the member is employed. These contributions shall be in addition to other contributions and is paid into the teachers’ survivors benefit in the same manner as other contributions are made.