reglab/housing_qa huggingface dataset:
24 V.S.A. § 5060
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5060. Optional benefits

§ 5060. Optional benefits|(a) Until the first payment on account of a retirement allowance becomes normally due, any member may elect to convert the retirement allowance otherwise payable to the member after retirement into a retirement allowance that is its actuarial equivalent, in accordance with one of the optional forms described below.Option 1. A reduced retirement allowance payable during the member's life, with the provision that it shall continue after the member's death for the life of the beneficiary nominated by the member by written designation duly acknowledged and filed with the Retirement Board at the time of retirement should such beneficiary survive the member; orOption 2. A reduced retirement allowance payable during the member's life, with the provision that it shall continue after the member's death at one-half the rate paid to the member and be paid for the life of the beneficiary nominated by the member by written designation duly acknowledged and filed with the Retirement Board at the time of retirement should such beneficiary survive the member.(b) Any member who elects to receive a retirement allowance under the provisions of option 1 or 2 may elect to receive a benefit further reduced actuarially as prescribed by the Board with the added provision that on the basis of stipulations contained in a plan-approved domestic relations order or if the retired member survives the member's nominated beneficiary, the retirement allowance which would have been payable during the member's life computed pursuant to section 5055 or 5056 of this title, whichever is applicable, shall be paid to the retired member during the remainder of the member's lifetime. If a member does not make an election as to the form of his or her retirement allowance, the member shall receive his or her retirement allowance computed pursuant to section 5055 or 5056 of this title, whichever is applicable. (Added 1973, No. 251 (Adj. Sess.), § 3; 1999, No. 53, § 11.)
24 V.S.A. § 5061
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5061. Death benefit; post retirement

§ 5061. Death benefit; post retirement|The beneficiary of a member who dies after retirement shall receive at the member's death, a lump sum equal in amount to the difference between the member's accumulated contributions at the time of retirement and the sum of the annuity payments actually made to the member during his or her lifetime. However, if the member elected an option prior to the commencement of the benefit, the provisions thereof shall apply. Under all options, in the absence of a written designation of beneficiary, or in the event the designated beneficiary is deceased, the residual amount payable as a result of the death of the member after retirement shall be payable as follows:  (1) In the case of an open estate, to the administrator or executor. (2) In the case of a closed estate and the residual amount payable is valued at less than $1,000.00, in accordance with the Probate Division of the Superior Court decree of distribution. (3) In the absence of an open estate or Probate Division of the Superior Court decree of distribution, and the residual amount payable is valued at less than $1,000.00 to the surviving spouse of the deceased owner, or, if there is no surviving spouse, then to the next of kin according to 14 V.S.A. § 551. (4) In all other cases, a probate estate shall be opened by the claimant, or other interested party, in order to determine the appropriate distribution of the residual amount payable. When an estate is opened solely to distribute the residual amount payable under this section, the Probate Division of the Superior Court may waive any filing fees. (Added 1973, No. 251 (Adj. Sess.), § 3; amended 2007, No. 13, § 43; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011.)
24 V.S.A. § 5061a
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5061a. Accidental and occupationally-related death benefit

§ 5061a. Accidental and occupationally-related death benefit|If the Retirement Board shall find on the basis of such evidence as may come before it that a Group D member in service died prior to retirement under the System as the natural and proximate result of an accident occurring at a definite time and place during the course of the member's performance of duty as an employee, and that such accident was not the result of the member's own gross negligence or willful misconduct, a retirement allowance shall be paid the member's dependent beneficiary during the beneficiary's life. The terms and conditions of such payments shall be the same as those prescribed for Group C members as defined in 3 V.S.A. § 464. (Added 1999, No. 61, § 8.)
24 V.S.A. § 5061b
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5061b. Death benefit after retirement- Group D

§ 5061b. Death benefit after retirement- Group D|If a Group D member in receipt of a retirement allowance dies, the member's dependent spouse shall receive, until his or her death, a retirement allowance which shall be equal to 70 percent of the retirement allowance to which the member was then entitled, without optional modification, irrespective of whether the member had elected such an option. (Added 1999, No. 61, § 9.)
24 V.S.A. § 5063
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5063. Investments; interest rate; disbursements

§ 5063. Investments; interest rate; disbursements|(a) The members of the Vermont Pension Investment Commission established in 3 V.S.A. chapter 17 shall be the trustees of the Fund created by this chapter, and with respect to them may invest and reinvest the assets of the Fund, and hold, purchase, sell, assign, transfer, and dispose of the securities and investments in which the assets of the Fund have been invested and reinvested. Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of capital as well as the probable income to be derived.(b) From time to time, the Retirement Board shall set the rate or rates of regular interest at such percent rate compounded annually as shall be determined by the Board, such rate to be limited to a minimum of three percent and a maximum of five percent.(c) The State Treasurer shall be the custodian of the assets of the Fund of the Retirement System. All payments from the Fund shall be made by the Treasurer or by the Deputy Treasurer, with approval of the Retirement Board. A duly attested copy of a resolution of the Retirement Board designating such persons and bearing on its face specimen signatures of such persons shall be filed with the State Treasurer as his or her authority for making payments upon such vouchers.(d) [Repealed.](e) Except as otherwise herein provided, no trustee and no employee of the Retirement Board or Vermont Pension Investment Commission shall have any direct interest in the gains or profits of any investment made by the Commission, nor shall any trustee, member of the Commission, or employee of the Board or Commission, directly or indirectly, for himself or herself or as an agent, in any manner use the same except to make such current and necessary payments as are authorized by the Board or Commission; nor shall any trustee or employee of the Board or Commission become an endorser or surety, or in any manner an obligor, for monies loaned to or borrowed from the Board. (Added 1973, No. 251 (Adj. Sess.), § 3; amended 1981, No. 41, § 37; 1985, No. 171 (Adj. Sess.), § 5, eff. May 7, 1986; 1987, No. 80, § 10, eff. June 9, 1987; 1995, No. 118 (Adj. Sess.), § 2; 2005, No. 50, § 9; 2007, No. 13, § 45; 2021, No. 75, § 9, eff. June 8, 2021.)
24 V.S.A. § 5065
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5065. Errors

§ 5065. Errors|Should any change or error in the records result in any member or beneficiary receiving from the Retirement System more or less than he or she would have been entitled to receive had the records been correct, the Retirement Board shall have the power to correct such error, and to adjust as far as practicable the payments in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid or in such a manner that the impact upon the Fund is de minimis. (Added 1973, No. 251 (Adj. Sess.), § 3; amended 2017, No. 165 (Adj. Sess.), § 27.)
24 V.S.A. § 5066
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5066. Exemption of member's interest; assignment

§ 5066. Exemption of member's interest; assignment|That portion of the salary or wages of a member deducted or to be deducted under this chapter, the right of a member to an annuity, pension, or retirement allowance hereunder, and all the member's rights in the assets of the Retirement System, shall be exempt from taxation, except income tax, and from the operation of any laws relating to bankruptcy or insolvency, and shall not be attached or taken upon execution or other process of any court. No assignment by a member of any part of the assets to which the member is or may be entitled, or of any right to or interest in those assets, shall be valid, except to the extent permitted by this chapter. (Added 1973, No. 251 (Adj. Sess.), § 3; amended 2007, No. 13, § 48.)
24 V.S.A. § 5067
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5067. Postretirement adjustments to retirement allowances

§ 5067. Postretirement adjustments to retirement allowances|(a) For members, as of June 30 in each year, commencing June 30, 1987, a determination shall be made of the increase, to the nearest one-tenth of a percent of the Consumer Price Index for the preceding fiscal year. The retirement allowance of each beneficiary in receipt of an allowance for at least one year on the next following December 31 shall be increased by an amount equal to one-half of the percentage increase. The increase shall commence on the January 1 immediately following such December 31. The adjustment shall apply to members of the Group A, B, or D plans receiving an early retirement allowance only in the year following attainment of normal retirement age, provided the member has received benefits for at least 12 months as of December 31 of the year preceding any January adjustment. The maximum adjustment of any retirement allowance resulting from any such determination shall be two percent for Group A members and three percent for Group B, C, and D members, and no retirement allowance shall be reduced below the amount payable to the beneficiary without regard to the provisions of this section.(b) For purposes of this section, Consumer Price Index shall mean the Northeast Region Consumer Price Index for all urban consumers, designated as "CPI-U," in the northeast region, as published by the U.S. Department of Labor, Bureau of Labor Statistics.(c) No adjustment shall be made pursuant to this section in a deferred vested allowance payable pursuant to subsection 5059(a) of this title prior to its commencement.(d) For all members of Group A and Group B, who have retired prior to July 1, 1987, there is hereby granted on July 1, 1989 a cost of living adjustment to each member's retirement allowance equal to two percent for each year of retirement prior to July 1, 1987 but not to exceed a total adjustment greater than ten percent.(e) No adjustment shall be made pursuant to this section in January if the Consumer Price Index as of the previous June 30th is a negative rate. (Added 1987, No. 39, § 9; amended 1989, No. 11, § 9; 1991, No. 233 (Adj. Sess.), § 7; 1999, No. 61, § 5; 2005, No. 197 (Adj. Sess.), § 8; 2009, No. 139 (Adj. Sess.), § 10a; 2011, No. 63, § H.3.)
24 V.S.A. § 5069
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5069. Insurance

§ 5069. Insurance|(a) The Board may enter into insurance arrangements to provide health and medical benefits for retired members and their dependents. The Board may enter into insurance arrangements to provide dental coverage for retired members and their dependents, provided the municipalities or the System has no legal obligation to pay any portion of the dental benefit premiums.(b) The Board may, to the extent that it may be funded as described in this subsection, establish an uninsured program for the reimbursement of certain health care costs of retired members and their dependents pursuant to the following:  (1) Benefits under an uninsured program shall be funded by redirecting a portion of contributions from employers. Employer contributions shall only be so redirected to the extent that those contributions offset an existing actuarially determined surplus with respect to the actuarial cost method and funding adopted by the Board. The Board may establish a trust to hold and invest employer contributions and to pay the benefits and administrative expenses of the program. The benefits or administrative expenses of this program shall not be paid from the Annuity Fund, the Pension Fund, or the Expense Fund. (2) The Board shall have the discretion to determine the method for allocating the fund balance to retired members; provided, however, that the aggregate benefits payable under this program may not exceed the aggregate contributions made by employers and earnings, if any, on those contributions. Prior to July 1 of each year, the Board shall notify each retired member of the amount available for reimbursement over the succeeding 12 months and the procedures by which the retired member or dependent may request reimbursement. (3) Retired members and their dependents shall be required to provide substantiation of their health care expense claims to the extent required by the Internal Revenue Service for tax-favored treatment of their reimbursements. The Board may enter into an agreement with a third party administrator to process the expense claims of retired members and their dependents.   (c) As an alternative to providing health care insurance, the Board, in its discretion, may assist retired members of the System with the cost of health care by authorizing payment of a health care stipend to retired members in an amount to be determined by the Board. In the event the Board determines to provide such a stipend, it shall annually review the stipend, in consultation with the actuary designated pursuant to subsection 5062(j) of this title, and determine whether to continue to provide the stipend and the amount to be paid. If authorized by the Board, a stipend shall be paid in 12 monthly installments commencing on July 1 of that year. (Added 1991, No. 233 (Adj. Sess.), § 9; amended 1999, No. 158 (Adj. Sess.), § 15; 2005, No. 197 (Adj. Sess.), § 10; 2009, No. 24, § 13.)
24 V.S.A. § 5070
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 125 - Municipal Employees' Retirement System of Vermont|§ 5070. Defined contribution retirement plan

§ 5070. Defined contribution retirement plan|(a) The Board may approve a defined contribution retirement plan for one or more groups of members. The plan shall qualify as a defined contribution plan under the U.S. Internal Revenue Code, as amended. Participation in a defined contribution plan offered under this section shall be in lieu of participation in any other plan established under this title. The Board shall ensure that objective educational material be prepared and presented to the employees in order to enable them to make an informed decision, under the assumption that each participant is an unsophisticated investor.(b) The proper authority or officer responsible for making up each employer payroll shall certify to the Board the amounts deducted on each and every payroll for employees participating in the defined contribution plan, and each of those amounts shall be paid into the defined contribution fund and credited to the individual account of the member from whose compensation the deduction was made.  (1) Employer reports and corresponding member contributions required by this subsection shall be provided by the due date established by the Board. An employer that provides reports or remits contributions, which are more than 30 days delinquent, may be assessed a delinquent reporting fee of one percent of the amount that should have been reported and remitted for each month, or prorated portion of a month, that the report or contributions are delinquent. (2) Employers shall provide accurate reports. An employer who provides an inaccurate report shall be responsible for correcting any deficiencies and shall reimburse the System for any costs incurred by the System as a result of inaccuracy. (3) In the event that an employer willfully files an inaccurate report, in addition to any other penalties provided by law, the employer shall pay the System an administrative penalty of up to 50 percent of the amount that was not accurately reported. (4) The System may enforce the provisions of this subsection in Washington Superior Court. (5) The Board may, in its discretion, waive part or all of a penalty assessment for good cause shown. (Added 1999, No. 53, § 14; amended 2007, No. 13, § 49.)
24 V.S.A. § 5081
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 126 - Public Transportation|§ 5081. Definition

§ 5081. Definition|As used in this subchapter:"Public transportation" means the transportation of persons, including groups of the general public with special needs, by all means available to the general public. (Added 1989, No. 262 (Adj. Sess.).)
24 V.S.A. § 5082
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 126 - Public Transportation|§ 5082. Findings and declarations

§ 5082. Findings and declarations|(a) Public transportation is an important matter of State concern, essential to the economic growth of the State and to the public health, safety, and welfare of present and future generations of Vermonters.(b) In each fiscal year, a portion of the Transportation Fund shall be dedicated to the continued support of public transit. (Added 1989, No. 262 (Adj. Sess.); amended 2001, No. 141 (Adj. Sess.), § 14, eff. June 21, 2002.)
24 V.S.A. § 5083
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 126 - Public Transportation|§ 5083. Declaration of policy

§ 5083. Declaration of policy|(a) It shall be the State's policy to make maximum use of available federal funds for the support of public transportation. State operating support funds shall be included in Agency operating budgets to the extent that funds are available. State policy shall support the maintenance of existing public transit services and creation of new services including the following goals:  (1) Provision for basic mobility for transit-dependent persons, as defined in the current public transit policy plan, including meeting the performance standards for urban, suburban, and rural areas. The density of a service area's population is an important factor in determining whether the service offered is fixed route, demand-response, or volunteer drivers. (2) Expanding public transit service in rural areas and increasing ridership statewide. (3) Access to employment, including creation of demand-response service. (4) Congestion mitigation to preserve air quality, decrease greenhouse gas emissions, and sustain the highway network. (5) Advancement of economic development objectives, including services for workers and visitors that support the travel and tourism industry. Applicants for "new starts" in this service sector shall demonstrate a high level of locally derived income for operating costs from fare-box recovery, contract income, or other income.   (b) The Agency of Transportation shall evaluate proposals for new public transit service submitted by providers in response to a notice of funding availability, by examining feasibility studies submitted by providers. The feasibility studies shall address criteria set forth in the most recent public transit policy plan.(c) The Agency, in cooperation with the Public Transit Advisory Council, shall adopt appropriate performance and service standards for transit systems receiving federal or State assistance. The Agency of Transportation shall provide guidance, training, funding, and technical assistance to transit systems in order to meet the performance and service standards established.(d) The Agency of Transportation shall provide written guidance, funding, and technical assistance in the preparation of financial and management plans for public transit systems for each fiscal year. To provide a foundation for financial stability and reliability in the provision of transportation services to the public, the Agency of Transportation shall, in cooperation with the Public Transit Advisory Council, establish both short and long-range fiscal, operating, and capital investment plans to support the goals outlined in this section and regional transportation development plan proposals and regional plans as required by section 5089 of this title. (Added 1989, No. 262 (Adj. Sess.); amended 1993, No. 211 (Adj. Sess.), § 21, eff. June 17, 1994; 1999, No. 156 (Adj. Sess.), § 18, eff. May 29, 2000; 2003, No. 56, § 37, eff. June 4, 2003; 2011, No. 153 (Adj. Sess.), § 32; 2019, No. 59, § 18.)
24 V.S.A. § 5084
2021 Vermont Statutes|Title 24 - Municipal and County Government|Chapter 126 - Public Transportation|§ 5084. Public Transit Advisory Council

§ 5084. Public Transit Advisory Council|(a) The Public Transit Advisory Council shall be created by the Secretary of Transportation under 19 V.S.A. § 7(f)(5), to consist of the following members:  (1) the Secretary of Transportation or designee; (2) three representatives of the Vermont Public Transportation Association; (3) a representative of the Green Mountain Transit Authority; (4) the Secretary of Human Services or designee; (5) the Commissioner of Labor or designee; (6) the Secretary of Commerce and Community Development or designee; (7) a representative of the Vermont Center for Independent Living; (8) a representative of the Community of Vermont Elders; (9) a representative of private bus operators and taxi services; (10) a representative of Vermont intercity bus operators; (11) a representative of the Vermont Association of Planning and Development Agencies; (12) a representative of the Vermont League of Cities and Towns; (13) a citizen appointed by the Governor; (14) a member of the Senate, appointed by the Committee on Committees; and (15) a member of the House of Representatives, appointed by the Speaker.   (b) The Advisory Council shall be chaired by the Secretary of Transportation or designee.(c) The Advisory Council shall meet no less than four times during each State fiscal year, excluding subcommittee meetings. The legislative members of the Council shall be entitled to compensation and expenses as provided in 2 V.S.A. § 406. Members who are not State employees shall receive reimbursement of expenses and a per diem as provided in 32 V.S.A. § 1010.(d) The Advisory Council shall serve as an advisory group to the Agency of Transportation on all matters relating to public transit service as defined in section 5088 of this title.(e) [Repealed.]  (Added 1999, No. 156 (Adj. Sess.), § 17, eff. May 29, 2000; amended 2003, No. 56, § 38, eff. June 4, 2003; 2003, No. 160 (Adj. Sess.), § 50, eff. June 9, 2004; 2011, No. 62, § 32; 2017, No. 158 (Adj. Sess.), § 23, eff. May 21, 2018.)