2-18-320. (Temporary) Use of termination incentive -- installment payments authorized. (1) If the eligible employee elects to use the termination incentive paid under 2-18-319, in whole or in part, to enhance retirement benefits, the employer contributions to the teachers' retirement system required under 19-20-101(5)(d) are included in the total amount of termination incentive paid to the employee.
     (2) The provisions of this section apply only to a termination incentive and do not relieve an employer from making any contributions defined in 19-20-101(5)(d).
     (3) The termination incentive may be paid, upon request of the employee, in 12 equal installments as long as the final installment payment occurs on or before June 30, 1997. (Terminates July 6, 1996--sec. 5, Ch. 49, L. 1995.)

     History: En. Sec. 2, Ch. 49, L. 1995.