State Superannuation Regulations 2001

If the value of a Member’s superannuation interest in the Gold State Super Scheme is reduced under regulation 219C(b) the value of the reduction is to be calculated by the actuary and may be effected —

by the deduction of a monetary amount, with or without interest; or

by the reduction by a specified amount of the multiple of final remuneration used to calculate the Member’s superannuation interest; or

in any other manner agreed between the actuary and the Board.

If the Member is a Part 1 Member within the meaning of Schedule 2 Part 1 clause 1(1), the reduction is to be apportioned proportionally between —

the Member’s superannuation interest to the extent that it arises under Part 2 of these regulations; and

the Member’s superannuation interest to the extent that it arises under Schedule 2 Part 1.

If the Member is a Part 6 Member within the meaning of Schedule 2 Part 6 clause 17, the reduction is to be apportioned proportionally between —

the Member’s superannuation interest to the extent that it arises under Part 2 of these regulations; and

the Member’s superannuation interest to the extent that it arises under Schedule 2 Part 6.