§79-18 Same; payments to retirement system. The government receiving the loan of an employee shall deduct from the employee's salary and shall pay to the employees' retirement system of the State, monthly, through the loaning department or agency, the same sum which was deducted from the employee's salary for the annuity savings fund of the employees' retirement system immediately prior to the loan of the employee. The government receiving the loan of the employee shall also pay to the employees' retirement system, quarterly, through the loaning department or agency, such sum of money as the State or subdivision or agency would have been required to pay to the various funds of the employees' retirement system on account of the employment of such employee, based on the rate of compensation received by the employee immediately prior to the loan of the employee.

The amounts to be so paid shall be finally determined by the employees' retirement system and certified to the government receiving the loan of the employee.

Payment of the above mentioned sums shall be a condition of all loans. The term "employee," wherever it appears in this section, includes the holder of an appointive office. [L 1953, c 94, pt of §1; RL 1955, §5-45; am L 1961, c 87, §2; HRS §79-18]