Terms Used In Vermont Statutes > Title 16 > Chapter 55 - State Teachers' Retirement System of Vermont

• Accept: means to solicit, receive, or agree to receive. See
• Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his or her individual account in the Pension Fund, together with regular interest thereon, as provided in subsection 1944(b) of this title. See
• Actuarial equivalent: shall mean a benefit of equal value under the actuarial assumptions last adopted by the Retirement Board under subsection 1943a(h) of this title. See
• agency: means all State offices that provide public assistance, all State offices that provide State-funded programs primarily engaged in providing services to persons with disabilities, any federal and nongovernmental offices that have agreed to be designated by the Secretary as a voter registration agency, and any State or local agency designated by the Secretary as a voter registration agency. See
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Annuity: shall mean annual payments for life derived from the accumulated contributions of a member. See
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Average final compensation: shall mean :

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance or other benefit as provided by the System. See
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• between: as used in this title in respect to a specified age of a student, shall mean the period of time commencing on the birthday of the child when he or she becomes the age first specified and ending on the day next preceding the birthday of the child when he or she becomes the age last specified. See
• Board: shall mean the board of trustees of the System provided for in section 1942 of this title to administer the System. See
• Board of civil authority: means , unless otherwise provided by municipal charter, in the case of a town, the selectboard and town clerk and the justices residing therein; in the case of a city, the mayor, aldermen, city clerk, and justices residing therein; in the case of a village, the trustees, village clerk, and the justices residing therein; and, in any case, such suitable member or members of unrepresented or insufficiently represented political parties as may be appointed members of the board of civil authority under the provisions of section 2143 of this title. See
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Creditable service: shall mean membership service, any other service allowable under this chapter, and service transferred under 3 V. See
• Dependent: A person dependent for support upon another.
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Earnable compensation: shall mean the full rate of compensation for the performance of professional services paid to a teacher when the teacher works the full normal working time for his or her position, in whatever manner paid, plus all additional wages received by a teacher for duties performed that provide direct educational value to the students. See
• Election: means the procedure whereby the voters of this State, or any of its political subdivisions, select persons to fill public offices or act on public questions. See
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• filed: means deposited in the regularly maintained office of the official with whom the filing is to be made. See
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• General election: means the election held on the first Tuesday after the first Monday in November, in even-numbered years. See
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Give: means to offer, present, confer, pay, or deliver; also to agree or promise to do any of the foregoing. See
• Group A member: any person who is first included in the membership of the System prior to July 1, 1981. See
• Group C member: any person who is first included in the membership of the System on or after July 1, 1990, any person who was a Group B member on June 30, 1990 who was in service on that date, and any person who was a Group B member on June 30, 1990 who was absent from service on that date who returns to service on or after July 1, 1990. See
• Independent school: means a school other than a public school, which provides a program of elementary or secondary education, or both. See
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
• Legislative body: means the selectboard in the case of a town; the city council, mayor, and alder board in the case of a city; the trustees or bailiffs in the case of a village; the school board in the case of a school district; and the prudential committee in the case of a fire district. See
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• maximum allowance: shall mean the sum of the annuity and the pension. See
• Medical Board: shall mean the board of physicians provided for in subsection 1942(k) of this title. See
• Member: shall mean any person included in the System pursuant to section 1933 of this chapter. See
• Membership service: shall mean service as a member for which credit is allowable as provided in subsection 1936(a) of this title. See
• Military service: means active service by any person, as a member of any branch or department of the U. See
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Oath: shall include affirmation where by law an affirmation may be substituted. See
• Oath: A promise to tell the truth.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Pension: shall mean annual payments for life derived from money provided by the State. See
• Person: means any individual, business entity, labor organization, public interest group, or other organization, incorporated or unincorporated. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Political party: is a ny group of individuals that has organized and filed its certificate of organization with the Secretary of State, pursuant to chapter 45 of this title. See
• Political subdivision: means any county, municipality (including cities, towns, and villages), representative district, senatorial district, school district, fire district, water, sewer, or utility district, ward, and any consolidation of the foregoing entities authorized under the laws of this State. See
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Primary: means any election that precedes a general or special election, for the purpose of permitting political parties to nominate, from among all of the candidates for any office, only that number of candidates equal to the number of persons to be elected to that office at the succeeding general or special election. See
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Quorum: The number of legislators that must be present to do business.
• Regular interest: shall mean interest at such rate as may be established from time to time by the Board as provided in subsection 1943(b) of this title. See
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Resident: means a natural person who is domiciled in this State as evidenced by an intent to maintain a principal dwelling place in the State indefinitely and to return there if temporarily absent, coupled with an act or acts consistent with that intent. See
• Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this chapter. See
• Retirement System: shall mean the State Teachers' Retirement System of Vermont, as defined in section 1932 of this title. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• School board: means the board of school directors elected to manage the schools of a school district, the prudential committee of an incorporated school district, the supervisory union board of directors, and the supervisors of unorganized towns and gores. See
• School district: means town school districts, union school districts, interstate school districts, city school districts, unified union districts, and incorporated school districts, each of which is governed by a publicly elected board. See
• School year: means the year beginning July 1 and ending the next June 30. See
• Secretary: means the Secretary of State. See
• Secretary: means the Secretary of Education. See
• Service: shall mean all service as a teacher for which compensation is received. See
• State: shall mean the State of Vermont. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• State Board: means the State Board of Education established by chapter 3 of this title. See
• Statute: A law passed by a legislature.
• Superintendent: means the chief executive officer of a supervisory union and each school board within it. See
• Supervisory union: means an administrative, planning, and educational service unit created by the State Board under section 261 of this title, that consists of two or more school districts; if the context clearly allows, the term also means a supervisory district. See
• Teacher: shall mean any licensed teacher, principal, supervisor, superintendent, or any professional licensed by the Vermont Standards Board for Professional Educators who is regularly employed, or otherwise contracted if following retirement, for the full normal working time for his or her position in a public day school or school district within the State, or in any school or teacher-training institution located within the State, controlled by the State Board of Education, and supported wholly by the State; or in certain public independent schools designated for such purposes by the Board in accordance with section 1935 of this title. See
• Town: includes "city. See
• Town clerk: means a town officer elected pursuant to section 2646 of this title or otherwise elected or appointed by law and performing those duties prescribed by 24 Vt. See
• Trustee: A person or institution holding and administering property in trust.
• Village: shall mean an incorporated village. See
• Voter: means an individual who is qualified to vote in an election in this State or a political subdivision of this State, and whose name is registered on the checklist of a political subdivision of the State. See
• Year: means a calendar year. See