North Carolina General Statutes 135-18.9. Transfer of members from the Legislative Retirement System or the Consolidated Judicial Retirement System
Terms Used In North Carolina General Statutes 135-18.9
- Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and accredited to his individual account in the annuity savings fund, together with regular interest thereon as provided in N. See North Carolina General Statutes 135-1
- Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and accredited to his individual account in the annuity savings fund, together with regular interest thereon as provided in N. See North Carolina General Statutes 135-1
- Creditable service: shall mean the total of "prior service" plus "membership service" plus service, both noncontributory and purchased, for which credit is allowable as provided in N. See North Carolina General Statutes 135-1
- Creditable service: shall mean the total of "prior service" plus "membership service" plus service, both noncontributory and purchased, for which credit is allowable as provided in N. See North Carolina General Statutes 135-1
- Member: shall mean any teacher or State employee included in the membership of the System as provided in N. See North Carolina General Statutes 135-1
- Member: shall mean any teacher or State employee included in the membership of the System as provided in N. See North Carolina General Statutes 135-1
- Retirement System: shall mean the Teachers' and State Employees' Retirement System of North Carolina as defined in N. See North Carolina General Statutes 135-1
- Retirement System: shall mean the Teachers' and State Employees' Retirement System of North Carolina as defined in N. See North Carolina General Statutes 135-1
- Service: shall mean service as a teacher or State employee as described in subdivision (10) or (25) of this section. See North Carolina General Statutes 135-1
- Service: shall mean service as a teacher or State employee as described in subdivision (10) or (25) of this section. See North Carolina General Statutes 135-1
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(a) The accumulated contributions, creditable service, and reserves, if any, of a member of the Legislative Retirement System, as provided for in Article 1A of G.S. 120, or the Consolidated Judicial Retirement System, as provided for in Article 4 of G.S. 135, who later becomes a member of the Teachers’ and State Employees’ Retirement System for a period of five or more years may, upon application of the member, be transferred from the Legislative Retirement System or the Consolidated Judicial Retirement System. The accumulated contributions, creditable service, and reserves of any member whose service as a member of the Legislative Retirement System or the Consolidated Judicial Retirement System is terminated other than by retirement or death and who later becomes a member of the Teachers’ and State Employees’ Retirement System may, upon application of the member, be transferred from the Legislative Retirement System or the Consolidated Judicial Retirement System to the Teachers’ and State Employees’ Retirement System. In order to effect the transfer of a member’s creditable service from the Legislative Retirement System or the Consolidated Judicial Retirement System to the Teachers’ and State Employees’ Retirement System, the accumulated contributions of each member credited in the annuity savings fund in the Legislative Retirement System or the Consolidated Judicial Retirement System shall be transferred and credited to the annuity savings fund in the Teachers’ and State Employees’ Retirement System.
(b) The Board of Trustees shall effect such rules as it may deem necessary to administer subsection (a) of this section and to prevent any duplication of service credits or benefits that might otherwise occur. (2003-284, s. 30.18(c).)