Sections
§ 1601 Agency of Transportation; powers

Terms Used In Vermont Statutes > Title 5 > Chapter 20

  • 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 of Education: means the Secretary and staff necessary to carry out the functions of the Agency. See
  • Amortization: Paying off a loan by regular installments.
  • Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
  • Annuity: shall mean annual payments for life derived from the accumulated contributions of a member. See
  • 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 :

  • Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance or other benefit as provided by the System. See
  • 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
  • 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
  • Electorate: means the qualified voters in a school district voting at a properly warned school district meeting. 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
  • Ex officio: Literally, by virtue of one's office.
  • 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.
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grades: means the division of the educational work of the public schools into 13 school year units beginning with kindergarten and thereafter numbered from one to 12 beginning with the lowest. 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
  • 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
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
  • 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
  • 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.
  • 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 district meeting: means a duly warned meeting of a school district at which questions are presented to the electorate. See
  • School year: means the year beginning July 1 and ending the next June 30. 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 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