(a) Every choice to retire shall be final and irrevocable. However, during the period of determination, the agency, after consulting with and obtaining the consent of the Government Fiscal Agent and the Office of Management and Budget, may render ineffective any choice to retire and suspend the early retirement of the specific group of eligible employees on the basis of its financial capability and the needs of the agency and whether the total number of choices to retire made during the term for choosing fails to financially or otherwise justify the implementation of the program. If the agency determines not to implement the early retirement of the specific group of officials and employees eligible at that time, under this section, all choices to retire shall be rendered ineffective and the employees who have made the choice to retire shall continue to perform the duties of their office with the agency and shall remain attached to the Retirement System under the provisions of the Retirement System Act.
(b) The agency shall identify those employees whose experience or knowledge is essential to the proper operation thereof. Any officials or employees identified by the agency who have made a choice to retire shall be bound to provide training services to the employees selected by the instrumentality, and shall be entitled to receive remuneration for said services before or after they receive any pension or benefit, pursuant to the provisions of this chapter. Said training services shall be provided for a maximum term of three (3) months.
History —July 28, 1998, No. 182, § 8.