(a) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before July 1, 1990, after he either has attained his sixty‑fifthbirthday or has completed 24 years or more of creditable service shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of his retirement and shall be continued on the first day ofeach month thereafter during his lifetime, the amount of which shall be computedas the sum of (1), (2) and (3) following, provided that in no event shall theannual allowance payable to any member be greater than an amount which, whenadded to the allowance, if any, to which he is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System or theNorth Carolina Local Governmental Employees' Retirement System (prior in anycase to any reduction for early retirement or for an optional mode of payment)would total three fourths of his final compensation:
(1) Four percent (4%) ofhis final compensation, multiplied by the number of years of his creditableservice rendered as a justice of the Supreme Court or judge of the Court ofAppeals;
(2) Three and one‑halfpercent (3 ½%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the superior court or asadministrative officer of the courts;
(3) Three percent (3%)of his final compensation, multiplied by the number of years of his creditableservice rendered as a judge of the district court, district attorney, or clerkof superior court.
(a1) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57on or after July 1, 1990, but before July 1, 1999, after he either has attainedhis 65th birthday or has completed 24 years or more of creditable service shallreceive an annual retirement allowance, payable monthly, which shall commenceon the effective date of his retirement and shall be continued on the first dayof each month thereafter during his lifetime, the amount of which shall becomputed as the sum of (1), (2), and (3) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which he is entitled under theTeachers' and State Employees' Retirement System, the Legislative RetirementSystem or the North Carolina Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optionalmode of payment) would total three‑fourths of his final compensation:
(1) Four and two‑hundredthspercent (4.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a justice of the Supreme Court or judge ofthe Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of his final compensation, multiplied by the numberof years of his creditable service rendered as a judge of the superior court oras administrative officer of the courts;
(3) Three and two‑hundredthspercent (3.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the district court, districtattorney, or clerk of superior court.
(a2) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 1999, but before July 1, 2001, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) following, provided that inno event shall the annual allowance payable to any member be greater than anamount which, when added to the allowance, if any, to which the member isentitled under the Teachers' and State Employees' Retirement System, theLegislative Retirement System, or the Local Governmental Employees' RetirementSystem (prior in any case to any reduction for early retirement or for anoptional mode of payment) would total three‑fourths of the member's finalcompensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service equal to the number of years ofthe member's creditable service that was transferred from the Teachers' andState Employees' Retirement System to this System as provided in G.S. 135‑56.
(a3) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2001, but before January 1, 2004, after the member has eitherattained the member's 65th birthday or has completed 24 years or more of creditableservice, shall receive an annual retirement allowance, payable monthly, whichshall commence on the effective date of the member's retirement and shall becontinued on the first day of each month thereafter during the member'slifetime, the amount of which shall be computed as the sum of the amounts insubdivisions (1), (2), (3), (4), and (5) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which the member is entitledunder the Teachers' and State Employees' Retirement System, the LegislativeRetirement System, or the Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optional modeof payment) would total three‑fourths of the member's final compensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System to this System as provided in G.S. 135‑56.
(a4) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after January 1, 2004, but before July 1, 2007, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average final compensationas defined in G.S. 135‑53(2a) and creditable service equal to the numberof years of the member's creditable service that was transferred from the LocalGovernmental Employees' Retirement System to this System as provided in G.S.135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service,including any sick leave standing to the credit of the member, equal to thenumber of years of the member's creditable service that was transferred fromthe Teachers' and State Employees' Retirement System or the LegislativeRetirement System to this System as provided in G.S. 135‑56.
(a5) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2007, but before July 1, 2008, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, or public defender;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(a6) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2008, after the member has either attained the member's 65thbirthday or has completed 24 years or more of creditable service, shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of the member's retirement and shall be continued on the firstday of each month thereafter during the member's lifetime, the amount of whichshall be computed as the sum of the amounts in subdivisions (1), (2), (3), (4),and (5) of this subsection, provided that in no event shall the annualallowance payable to any member be greater than an amount which, when added tothe allowance, if any, to which the member is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System, or the LocalGovernmental Employees' Retirement System (prior in any case to any reductionfor early retirement or for an optional mode of payment), would total three‑fourthsof the member's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, public defender, or theDirector of Indigent Defense Services;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined in G.S.135‑53(2a) and creditable service, including any sick leave standing tothe credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(b) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before he either has attained his sixty‑fifth birthday or has completed24 years of creditable service shall receive an annual retirement allowance,payable monthly, which shall commence on the effective date of his retirementand shall be continued on the first day of each month thereafter during hislifetime, the amount of which shall be determined in the same manner and besubject to the same maximum limitation as provided for in subsection (a) aboveexcept that the allowance so computed shall be reduced by one quarter of onepercent (¼ of 1%) thereof for each month by which the member's retirement dateprecedes the first day of the month coincident with or next following theearlier of
(1) The member's sixty‑fifthbirthday or
(2) The date the memberwould have completed 24 years of creditable service if he had been inmembership service from his retirement date until such date.
For the sole purpose ofdetermining whether a member has completed the required 24 years of creditableservice referred to in this subsection (b) or the date on which he would havecompleted such period of creditable service if he had remained in membershipservice, in the case of a member of the Teachers' and State Employees'Retirement System who became a member of this Retirement System undercircumstances described in G.S. 135‑28.1, and who at the time of his retirementhereunder is in service and has retained his membership in the Teachers' andState Employees' Retirement System as provided for in G.S. 135‑28.1, hiscreditable service shall be taken as the sum of his creditable servicehereunder plus the amount of creditable service remaining to his credit in suchother system as provided for in G.S. 135‑28.1.
(c) The foregoingsubsections of this section to the contrary notwithstanding, in no event willthe retirement allowance payable at any time to a retired member who was amember of a previous system immediately prior to January 1, 1974, prior to anyreduction of such allowance in accordance with G.S. 135‑61, be less thanthe retirement allowance to which he would have been entitled under the termsof such previous system if this Article had not been enacted.
(d) Commencing with thepayment for the month of January 1974, the retirement allowance of each retiredmember of a previous system who was in receipt of a retirement allowancethereunder as of January 1, 1974, shall be paid from the assets of theRetirement System in the same amount as would have been applicable for January1974, if this Article had not been enacted.
(e) Notwithstanding anyother provision to the contrary, in no event will the retirement allowancepayable at any time to a retired member who was a member of a previous systemimmediately prior to January 1, 1974, prior to any reduction of such allowancein accordance with G.S. 135‑61, be greater than the retirement allowanceto which he would have been entitled under the terms of such previous system ifthis Article had not been enacted or than the retirement allowance to which hewould have been entitled under this Article if he had not been entitled tobenefits under the terms of such previous system, whichever is larger. (1973, c. 640, s. 1; 1977,c. 1120, s. 2; 1983 (Reg. Sess., 1984), c. 1031, ss. 17, 18; c. 1109, ss.13.14, 13.15; 1985, c. 649, s. 7; 1989 (Reg. Sess., 1990), c. 1077, ss. 6, 7;1999‑237, s. 28.24(d), (e); 2001‑424, s. 32.29(a), (b); 2003‑284,s. 30.18(g), (h); 2005‑276, s. 29.30A(f), (g); 2005‑345, s. 42;2007‑323, s. 28.21B(f), (g); 2008‑107, s. 26.24(f), (g).)
(a) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before July 1, 1990, after he either has attained his sixty‑fifthbirthday or has completed 24 years or more of creditable service shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of his retirement and shall be continued on the first day ofeach month thereafter during his lifetime, the amount of which shall be computedas the sum of (1), (2) and (3) following, provided that in no event shall theannual allowance payable to any member be greater than an amount which, whenadded to the allowance, if any, to which he is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System or theNorth Carolina Local Governmental Employees' Retirement System (prior in anycase to any reduction for early retirement or for an optional mode of payment)would total three fourths of his final compensation:
(1) Four percent (4%) ofhis final compensation, multiplied by the number of years of his creditableservice rendered as a justice of the Supreme Court or judge of the Court ofAppeals;
(2) Three and one‑halfpercent (3 ½%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the superior court or asadministrative officer of the courts;
(3) Three percent (3%)of his final compensation, multiplied by the number of years of his creditableservice rendered as a judge of the district court, district attorney, or clerkof superior court.
(a1) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57on or after July 1, 1990, but before July 1, 1999, after he either has attainedhis 65th birthday or has completed 24 years or more of creditable service shallreceive an annual retirement allowance, payable monthly, which shall commenceon the effective date of his retirement and shall be continued on the first dayof each month thereafter during his lifetime, the amount of which shall becomputed as the sum of (1), (2), and (3) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which he is entitled under theTeachers' and State Employees' Retirement System, the Legislative RetirementSystem or the North Carolina Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optionalmode of payment) would total three‑fourths of his final compensation:
(1) Four and two‑hundredthspercent (4.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a justice of the Supreme Court or judge ofthe Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of his final compensation, multiplied by the numberof years of his creditable service rendered as a judge of the superior court oras administrative officer of the courts;
(3) Three and two‑hundredthspercent (3.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the district court, districtattorney, or clerk of superior court.
(a2) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 1999, but before July 1, 2001, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) following, provided that inno event shall the annual allowance payable to any member be greater than anamount which, when added to the allowance, if any, to which the member isentitled under the Teachers' and State Employees' Retirement System, theLegislative Retirement System, or the Local Governmental Employees' RetirementSystem (prior in any case to any reduction for early retirement or for anoptional mode of payment) would total three‑fourths of the member's finalcompensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service equal to the number of years ofthe member's creditable service that was transferred from the Teachers' andState Employees' Retirement System to this System as provided in G.S. 135‑56.
(a3) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2001, but before January 1, 2004, after the member has eitherattained the member's 65th birthday or has completed 24 years or more of creditableservice, shall receive an annual retirement allowance, payable monthly, whichshall commence on the effective date of the member's retirement and shall becontinued on the first day of each month thereafter during the member'slifetime, the amount of which shall be computed as the sum of the amounts insubdivisions (1), (2), (3), (4), and (5) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which the member is entitledunder the Teachers' and State Employees' Retirement System, the LegislativeRetirement System, or the Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optional modeof payment) would total three‑fourths of the member's final compensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System to this System as provided in G.S. 135‑56.
(a4) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after January 1, 2004, but before July 1, 2007, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average final compensationas defined in G.S. 135‑53(2a) and creditable service equal to the numberof years of the member's creditable service that was transferred from the LocalGovernmental Employees' Retirement System to this System as provided in G.S.135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service,including any sick leave standing to the credit of the member, equal to thenumber of years of the member's creditable service that was transferred fromthe Teachers' and State Employees' Retirement System or the LegislativeRetirement System to this System as provided in G.S. 135‑56.
(a5) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2007, but before July 1, 2008, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, or public defender;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(a6) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2008, after the member has either attained the member's 65thbirthday or has completed 24 years or more of creditable service, shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of the member's retirement and shall be continued on the firstday of each month thereafter during the member's lifetime, the amount of whichshall be computed as the sum of the amounts in subdivisions (1), (2), (3), (4),and (5) of this subsection, provided that in no event shall the annualallowance payable to any member be greater than an amount which, when added tothe allowance, if any, to which the member is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System, or the LocalGovernmental Employees' Retirement System (prior in any case to any reductionfor early retirement or for an optional mode of payment), would total three‑fourthsof the member's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, public defender, or theDirector of Indigent Defense Services;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined in G.S.135‑53(2a) and creditable service, including any sick leave standing tothe credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(b) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before he either has attained his sixty‑fifth birthday or has completed24 years of creditable service shall receive an annual retirement allowance,payable monthly, which shall commence on the effective date of his retirementand shall be continued on the first day of each month thereafter during hislifetime, the amount of which shall be determined in the same manner and besubject to the same maximum limitation as provided for in subsection (a) aboveexcept that the allowance so computed shall be reduced by one quarter of onepercent (¼ of 1%) thereof for each month by which the member's retirement dateprecedes the first day of the month coincident with or next following theearlier of
(1) The member's sixty‑fifthbirthday or
(2) The date the memberwould have completed 24 years of creditable service if he had been inmembership service from his retirement date until such date.
For the sole purpose ofdetermining whether a member has completed the required 24 years of creditableservice referred to in this subsection (b) or the date on which he would havecompleted such period of creditable service if he had remained in membershipservice, in the case of a member of the Teachers' and State Employees'Retirement System who became a member of this Retirement System undercircumstances described in G.S. 135‑28.1, and who at the time of his retirementhereunder is in service and has retained his membership in the Teachers' andState Employees' Retirement System as provided for in G.S. 135‑28.1, hiscreditable service shall be taken as the sum of his creditable servicehereunder plus the amount of creditable service remaining to his credit in suchother system as provided for in G.S. 135‑28.1.
(c) The foregoingsubsections of this section to the contrary notwithstanding, in no event willthe retirement allowance payable at any time to a retired member who was amember of a previous system immediately prior to January 1, 1974, prior to anyreduction of such allowance in accordance with G.S. 135‑61, be less thanthe retirement allowance to which he would have been entitled under the termsof such previous system if this Article had not been enacted.
(d) Commencing with thepayment for the month of January 1974, the retirement allowance of each retiredmember of a previous system who was in receipt of a retirement allowancethereunder as of January 1, 1974, shall be paid from the assets of theRetirement System in the same amount as would have been applicable for January1974, if this Article had not been enacted.
(e) Notwithstanding anyother provision to the contrary, in no event will the retirement allowancepayable at any time to a retired member who was a member of a previous systemimmediately prior to January 1, 1974, prior to any reduction of such allowancein accordance with G.S. 135‑61, be greater than the retirement allowanceto which he would have been entitled under the terms of such previous system ifthis Article had not been enacted or than the retirement allowance to which hewould have been entitled under this Article if he had not been entitled tobenefits under the terms of such previous system, whichever is larger. (1973, c. 640, s. 1; 1977,c. 1120, s. 2; 1983 (Reg. Sess., 1984), c. 1031, ss. 17, 18; c. 1109, ss.13.14, 13.15; 1985, c. 649, s. 7; 1989 (Reg. Sess., 1990), c. 1077, ss. 6, 7;1999‑237, s. 28.24(d), (e); 2001‑424, s. 32.29(a), (b); 2003‑284,s. 30.18(g), (h); 2005‑276, s. 29.30A(f), (g); 2005‑345, s. 42;2007‑323, s. 28.21B(f), (g); 2008‑107, s. 26.24(f), (g).)
(a) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before July 1, 1990, after he either has attained his sixty‑fifthbirthday or has completed 24 years or more of creditable service shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of his retirement and shall be continued on the first day ofeach month thereafter during his lifetime, the amount of which shall be computedas the sum of (1), (2) and (3) following, provided that in no event shall theannual allowance payable to any member be greater than an amount which, whenadded to the allowance, if any, to which he is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System or theNorth Carolina Local Governmental Employees' Retirement System (prior in anycase to any reduction for early retirement or for an optional mode of payment)would total three fourths of his final compensation:
(1) Four percent (4%) ofhis final compensation, multiplied by the number of years of his creditableservice rendered as a justice of the Supreme Court or judge of the Court ofAppeals;
(2) Three and one‑halfpercent (3 ½%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the superior court or asadministrative officer of the courts;
(3) Three percent (3%)of his final compensation, multiplied by the number of years of his creditableservice rendered as a judge of the district court, district attorney, or clerkof superior court.
(a1) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57on or after July 1, 1990, but before July 1, 1999, after he either has attainedhis 65th birthday or has completed 24 years or more of creditable service shallreceive an annual retirement allowance, payable monthly, which shall commenceon the effective date of his retirement and shall be continued on the first dayof each month thereafter during his lifetime, the amount of which shall becomputed as the sum of (1), (2), and (3) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which he is entitled under theTeachers' and State Employees' Retirement System, the Legislative RetirementSystem or the North Carolina Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optionalmode of payment) would total three‑fourths of his final compensation:
(1) Four and two‑hundredthspercent (4.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a justice of the Supreme Court or judge ofthe Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of his final compensation, multiplied by the numberof years of his creditable service rendered as a judge of the superior court oras administrative officer of the courts;
(3) Three and two‑hundredthspercent (3.02%) of his final compensation, multiplied by the number of years ofhis creditable service rendered as a judge of the district court, districtattorney, or clerk of superior court.
(a2) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 1999, but before July 1, 2001, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) following, provided that inno event shall the annual allowance payable to any member be greater than anamount which, when added to the allowance, if any, to which the member isentitled under the Teachers' and State Employees' Retirement System, theLegislative Retirement System, or the Local Governmental Employees' RetirementSystem (prior in any case to any reduction for early retirement or for anoptional mode of payment) would total three‑fourths of the member's finalcompensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service equal to the number of years ofthe member's creditable service that was transferred from the Teachers' andState Employees' Retirement System to this System as provided in G.S. 135‑56.
(a3) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2001, but before January 1, 2004, after the member has eitherattained the member's 65th birthday or has completed 24 years or more of creditableservice, shall receive an annual retirement allowance, payable monthly, whichshall commence on the effective date of the member's retirement and shall becontinued on the first day of each month thereafter during the member'slifetime, the amount of which shall be computed as the sum of the amounts insubdivisions (1), (2), (3), (4), and (5) following, provided that in no eventshall the annual allowance payable to any member be greater than an amountwhich, when added to the allowance, if any, to which the member is entitledunder the Teachers' and State Employees' Retirement System, the LegislativeRetirement System, or the Local Governmental Employees' Retirement System(prior in any case to any reduction for early retirement or for an optional modeof payment) would total three‑fourths of the member's final compensation:
(1) Four and two‑hundredthspercent (4.02%) of the member's final compensation, multiplied by the number ofyears of creditable service rendered as a justice of the Supreme Court or judgeof the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and two‑hundredthspercent (3.02%) of the member's final compensation, multiplied by the number ofyears of creditable service, rendered as a judge of the district court,district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System to this System as provided in G.S. 135‑56.
(a4) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after January 1, 2004, but before July 1, 2007, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, or clerk of superior court;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average final compensationas defined in G.S. 135‑53(2a) and creditable service equal to the numberof years of the member's creditable service that was transferred from the LocalGovernmental Employees' Retirement System to this System as provided in G.S.135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service,including any sick leave standing to the credit of the member, equal to thenumber of years of the member's creditable service that was transferred fromthe Teachers' and State Employees' Retirement System or the LegislativeRetirement System to this System as provided in G.S. 135‑56.
(a5) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2007, but before July 1, 2008, after the member has eitherattained the member's 65th birthday or has completed 24 years or more ofcreditable service, shall receive an annual retirement allowance, payablemonthly, which shall commence on the effective date of the member's retirementand shall be continued on the first day of each month thereafter during themember's lifetime, the amount of which shall be computed as the sum of theamounts in subdivisions (1), (2), (3), (4), and (5) of this subsection,provided that in no event shall the annual allowance payable to any member begreater than an amount which, when added to the allowance, if any, to which themember is entitled under the Teachers' and State Employees' Retirement System,the Legislative Retirement System, or the Local Governmental Employees'Retirement System (prior in any case to any reduction for early retirement orfor an optional mode of payment), would total three‑fourths of themember's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, or public defender;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined inG.S. 135‑53(2a) and creditable service, including any sick leave standingto the credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(a6) Any member whoretires under the provisions of G.S. 135‑57(a) or G.S. 135‑57(c) onor after July 1, 2008, after the member has either attained the member's 65thbirthday or has completed 24 years or more of creditable service, shall receivean annual retirement allowance, payable monthly, which shall commence on theeffective date of the member's retirement and shall be continued on the firstday of each month thereafter during the member's lifetime, the amount of whichshall be computed as the sum of the amounts in subdivisions (1), (2), (3), (4),and (5) of this subsection, provided that in no event shall the annualallowance payable to any member be greater than an amount which, when added tothe allowance, if any, to which the member is entitled under the Teachers' andState Employees' Retirement System, the Legislative Retirement System, or the LocalGovernmental Employees' Retirement System (prior in any case to any reductionfor early retirement or for an optional mode of payment), would total three‑fourthsof the member's final compensation:
(1) Four and twohundredths percent (4.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a justice of the SupremeCourt or judge of the Court of Appeals;
(2) Three and fifty‑twohundredths percent (3.52%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the superiorcourt or as Administrative Officer of the Courts;
(3) Three and twohundredths percent (3.02%) of the member's final compensation, multiplied bythe number of years of creditable service rendered as a judge of the districtcourt, district attorney, clerk of superior court, public defender, or theDirector of Indigent Defense Services;
(4) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 3 of Chapter 128 of the General Statutes using an average finalcompensation as defined in G.S. 135‑53(2a) and creditable service equalto the number of years of the member's creditable service that was transferredfrom the Local Governmental Employees' Retirement System to this System asprovided in G.S. 135‑56; and
(5) A service retirementallowance computed in accordance with the service retirement provisions ofArticle 1 of this Chapter using an average final compensation as defined in G.S.135‑53(2a) and creditable service, including any sick leave standing tothe credit of the member, equal to the number of years of the member'screditable service that was transferred from the Teachers' and State Employees'Retirement System or the Legislative Retirement System to this System asprovided in G.S. 135‑56.
(b) Any member whoretires under the provisions of subsection (a) or subsection (c) of G.S. 135‑57before he either has attained his sixty‑fifth birthday or has completed24 years of creditable service shall receive an annual retirement allowance,payable monthly, which shall commence on the effective date of his retirementand shall be continued on the first day of each month thereafter during hislifetime, the amount of which shall be determined in the same manner and besubject to the same maximum limitation as provided for in subsection (a) aboveexcept that the allowance so computed shall be reduced by one quarter of onepercent (¼ of 1%) thereof for each month by which the member's retirement dateprecedes the first day of the month coincident with or next following theearlier of
(1) The member's sixty‑fifthbirthday or
(2) The date the memberwould have completed 24 years of creditable service if he had been inmembership service from his retirement date until such date.
For the sole purpose ofdetermining whether a member has completed the required 24 years of creditableservice referred to in this subsection (b) or the date on which he would havecompleted such period of creditable service if he had remained in membershipservice, in the case of a member of the Teachers' and State Employees'Retirement System who became a member of this Retirement System undercircumstances described in G.S. 135‑28.1, and who at the time of his retirementhereunder is in service and has retained his membership in the Teachers' andState Employees' Retirement System as provided for in G.S. 135‑28.1, hiscreditable service shall be taken as the sum of his creditable servicehereunder plus the amount of creditable service remaining to his credit in suchother system as provided for in G.S. 135‑28.1.
(c) The foregoingsubsections of this section to the contrary notwithstanding, in no event willthe retirement allowance payable at any time to a retired member who was amember of a previous system immediately prior to January 1, 1974, prior to anyreduction of such allowance in accordance with G.S. 135‑61, be less thanthe retirement allowance to which he would have been entitled under the termsof such previous system if this Article had not been enacted.
(d) Commencing with thepayment for the month of January 1974, the retirement allowance of each retiredmember of a previous system who was in receipt of a retirement allowancethereunder as of January 1, 1974, shall be paid from the assets of theRetirement System in the same amount as would have been applicable for January1974, if this Article had not been enacted.
(e) Notwithstanding anyother provision to the contrary, in no event will the retirement allowancepayable at any time to a retired member who was a member of a previous systemimmediately prior to January 1, 1974, prior to any reduction of such allowancein accordance with G.S. 135‑61, be greater than the retirement allowanceto which he would have been entitled under the terms of such previous system ifthis Article had not been enacted or than the retirement allowance to which hewould have been entitled under this Article if he had not been entitled tobenefits under the terms of such previous system, whichever is larger. (1973, c. 640, s. 1; 1977,c. 1120, s. 2; 1983 (Reg. Sess., 1984), c. 1031, ss. 17, 18; c. 1109, ss.13.14, 13.15; 1985, c. 649, s. 7; 1989 (Reg. Sess., 1990), c. 1077, ss. 6, 7;1999‑237, s. 28.24(d), (e); 2001‑424, s. 32.29(a), (b); 2003‑284,s. 30.18(g), (h); 2005‑276, s. 29.30A(f), (g); 2005‑345, s. 42;2007‑323, s. 28.21B(f), (g); 2008‑107, s. 26.24(f), (g).)
