Transfer of Member Accounts from Defined Contribution System; Transfer of Excess

Account Balance, If Any.

(a)In connection with credited service transferred from the Defined Contribution Retirement System to the Retirement Fund under § 8503(d)(1), a member’s Member Account balances in the Defined CH. 8 RETIREMENT OF PUBLIC EMPLOYEES Contribution System shall be transferred to the Defined Benefit 1.75 Retirement System in accordance with this Section.

(b)An amount equal to the lesser of a member’s:

(1)section 8208 and § 8209.1(a) account balances, if any; or

(2)actuarial cost of credited service, shall be transferred to the Defined Benefit 1.75 Retirement System as set forth in this § 8504(b).

(c)The actuarial cost of credited service for a member transferring to the Defined Benefit 1.75 Plan shall be funded first from the member’s § 8209.1(a) account, if any, and applied to the member’s § 8164(a) Member’s Contribution Reserve; any further amounts needed to fund up to the actuarial cost of credited service shall be funded next from the member’s § 8208 pre-tax account and applied to a pre-tax subaccount in the member’s § 8164(a) Member’s Contribution Reserve.

(d)Excess Account Balance, if any, attributable to a member’s § 8209.1(a) account shall remain in the member’s § 8209.1(a) account, except for amounts designated by the member to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).

(e)Excess Account Balance, if any, attributable to a member’s § 8208 Member Contribution Account shall remain in the member’s § 8208 Member Contribution Account, except for amounts designated by the member to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).

(f)An amount equal to the member’s § 8209.1(b) account (Rollover Employer’s Contributions from § 8164(b), also referred to as the Transfer Incentive Reserve) shall remain in the member’s § 8209.1(b) account, except for amounts designated by the member to be applied to repay prior partial withdrawals from the member’s account in accordance with § 8503(d)(3).