State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_135 > GS_135-70_1

§ 135‑70.1.  Transfer ofmembers from the Local Governmental Employees' Retirement System, the Teachers'and State Employees' Retirement System, or the Legislative Retirement System.

(a)        The accumulatedcontributions, creditable service, and reserves, if any, of a former teacher oremployee, as defined in G.S. 135‑1(25), 135‑1(10), and 128‑21(10),respectively, or a former member of the General Assembly who is a member of theConsolidated Judicial Retirement System for a period of five or more years may,upon application of the member, be transferred from the Local GovernmentalEmployees' Retirement System, the Teachers' and State Employees' RetirementSystem, or the Legislative Retirement System to the Consolidated JudicialRetirement System. The accumulated contributions, creditable service, andreserves of any member whose service as a teacher or employee or member of theGeneral Assembly is terminated other than by retirement or death and whobecomes a member of the Consolidated Judicial Retirement System may, uponapplication of the member, be transferred from the Local GovernmentalEmployees' Retirement System, the Teachers' and State Employees' RetirementSystem, or the Legislative Retirement System to the Consolidated JudicialRetirement System. In order to effect the transfer of a member's creditableservice from the Local Governmental Retirement System, the Teachers' and StateEmployees' Retirement System, or the Legislative Retirement System, to theConsolidated Judicial Retirement System, the accumulated contributions of eachmember credited in the annuity savings fund in the Local GovernmentalEmployees' Retirement System, the Teachers' and State Employees' RetirementSystem, or the Legislative Retirement System shall be transferred and creditedto the annuity savings fund in the Consolidated Judicial Retirement System.

(b)        The Board ofTrustees shall effect such rules as it may deem necessary to administer thepreceding subsection and to prevent any duplication of service credits orbenefits that might otherwise occur. (1999‑237, s. 28.24(h); 2003‑284, s.30.18(e); 2005‑276, s. 29.30A(h); 2005‑345, s. 42.)