Sections
Subchapter 1 County Buildings and Lands 71a – 77
Subchapter 2 Capital Construction 81 – 83

Terms Used In Vermont Statutes > Title 24 > Chapter 3

  • Actuarial equivalent: means a benefit of equal value under actuarial assumptions last adopted by the Retirement Board under subsection 5063a(h) of this title. See
  • Annuity: means annual payments for life actuarially derived from the accumulated contributions of a member. See
  • 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.
  • 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: means any person in receipt of a pension, an annuity, a retirement allowance, or other benefit as provided by this chapter. See
  • Board: means the Board of Trustees of the System provided for in section 5062 of this title to administer the System. See
  • Candidate: means an individual who has taken any affirmative action to become a candidate for public office. See
  • Contract: A legal written agreement that becomes binding when signed.
  • Creditable service: means that period of continuous service subsequent to an employee joining the System and prior to his or her termination of service, during which an employee makes contributions. See
  • 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: means the total amounts paid to an employee for his or her position. 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
  • Employee: means the following persons employed on a regular basis by a school district or by a supervisory union for no fewer than 1,040 hours in a year and for no fewer than 30 hours a week for the school year, as defined in 16 V. See
  • Employer: means a municipality, a library at least one-half of whose operating expenses are paid from municipal funds, or a supervisory union. 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: as used in this chapter , shall be deemed to include a special election, unless the context requires a different interpretation. See
  • Group C member: means a person employed by a municipality who elects to become a Group C member under section 5068 of this title or becomes a Group C member pursuant to a collective bargaining agreement. 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • maximum allowance: means the sum of the annuity and the pension. See
  • Medical Board: means the board of physicians provided for in section 5062 of this title. See
  • Member: means any employee included in the membership of the Retirement System under section 5053 of this title. 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
  • Municipality: means a city, town, county, incorporated village, fire district, consolidated water district, housing authority, union municipal district, school district, incorporated school district, union school district, or any of their instrumentalities. See
  • Pension: means annual payments for life derived from contributions by the State and municipality. 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
  • 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
  • Probate: Proving a will
  • Quorum: The number of legislators that must be present to do business.
  • Regular interest: means interest at such rate or rates as may be established from time to time by the Board as provided in subsection 5063(b) of this title. See
  • Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this chapter. See
  • said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
  • Secretary: means the Secretary of State. See
  • Service: means service as an employee for which compensation is paid by an employer as defined in subdivision (11) of this section, service recognized under section 5054 of this title, or service prior to the effective date of the plan. 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
  • sworn: shall include affirmed. See
  • System: means the Municipal Employees' Retirement System of Vermont, as defined in section 5052 of this title. See
  • Trustee: A person or institution holding and administering property in trust.
  • Vermont Municipal Retirement Fund: means the fund created by section 5064 of this title, which shall contain the assets of the Retirement System and from which shall be paid the benefits due to beneficiaries and the expenses of the Retirement System. See