North Carolina General Statutes 128-32. Protection against fraud
Attorney's Note
Under the N.C. Gen. Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 1 misdemeanor | up to 120 days |
Terms Used In North Carolina General Statutes 128-32
- Actuarial equivalent: shall mean a benefit of equal value when computed upon the basis of actuarial assumptions as shall be adopted by the Board of Trustees. See North Carolina General Statutes 128-21
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance or other benefit as provided by this Article. See North Carolina General Statutes 128-21
- Board of Trustees: shall mean the Board provided for in N. See North Carolina General Statutes 128-21
- Member: shall mean any person included in the membership of the Retirement System as provided in N. See North Carolina General Statutes 128-21
- Retirement System: shall mean the North Carolina Local Governmental Employees' Retirement System as defined in this Article. See North Carolina General Statutes 128-21
Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this Retirement System in any attempt to defraud such System as a result of such act shall be guilty of a Class 1 misdemeanor. Should any change or error in the records result in any member or beneficiary receiving from the Retirement System more or less than he would have been entitled to receive had their records been correct, the Board of Trustees shall correct such error, and as far as practicable, shall adjust the payment in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid. (1939, c. 390, s. 12; 1993, c. 539, s. 945; 1994, Ex. Sess., c. 24, s. 14(c).)