§ 135-18.9. Transfer of members from the Legislative Retirement System or the Consolidated Judicial Retirement System. - North Carolina Statutes

§ 135‑18.9.  Transfer ofmembers from the Legislative Retirement System or the Consolidated JudicialRetirement System.

(a)        The accumulatedcontributions, creditable service, and reserves, if any, of a member of theLegislative Retirement System, as provided for in Article 1A of G.S. 120, orthe Consolidated Judicial Retirement System, as provided for in Article 4 ofG.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 ofthe member, be transferred from the Legislative Retirement System or theConsolidated Judicial Retirement System. The accumulated contributions,creditable service, and reserves of any member whose service as a member of theLegislative Retirement System or the Consolidated Judicial Retirement System isterminated other than by retirement or death and who later becomes a member ofthe Teachers' and State Employees' Retirement System may, upon application ofthe member, be transferred from the Legislative Retirement System or theConsolidated Judicial Retirement System to the Teachers' and State Employees'Retirement System. In order to effect the transfer of a member's creditableservice from the Legislative Retirement System or the Consolidated JudicialRetirement System to the Teachers' and State Employees' Retirement System, theaccumulated contributions of each member credited in the annuity savings fundin the Legislative Retirement System or the Consolidated Judicial RetirementSystem shall be transferred and credited to the annuity savings fund in theTeachers' and State Employees' Retirement System.

(b)        The Board ofTrustees shall effect such rules as it may deem necessary to administersubsection (a) of this section and to prevent any duplication of servicecredits or benefits that might otherwise occur. (2003‑284, s.30.18(c).)