§ 135-70. Transfer of members to another system. - North Carolina Statutes

§ 135‑70.  Transfer ofmembers to another system.

(a)        Any member whosemembership service is terminated other than by retirement or death and, who,while still a member of this Retirement System becomes a member of either theTeachers' and State Employees' Retirement System or the North Carolina LocalGovernmental Employees' Retirement System, may elect to retain his membershipin this Retirement System by not withdrawing his accumulated contributionshereunder. Any such member shall retain all the rights, credits and benefitsobtaining to him under this Retirement System at the time of such terminationof service while he is a member of such other system and does not withdraw hiscontributions hereunder.

(a1)      The accumulatedcontributions and creditable service of any member whose service as a member ofthis Retirement System has been or is terminated other than by retirement ordeath and who, while still a member of this Retirement System, became orbecomes a member, as defined in G.S. 135‑1(13), of the Teachers' andState Employees' Retirement System for a period of five or more years may, uponapplication of the member, be transferred from this Retirement System to theTeachers' and State Employees' Retirement System. In order to effect thetransfer of a member's creditable service from this Retirement System to theTeachers' and State Employees' Retirement System, there shall be transferredfrom this Retirement System to the Teachers' and State Employees' RetirementSystem the sum of (i) the accumulated contributions of the member credited inthe annuity savings fund and (ii) the amount of reserve held in this RetirementSystem as a result of previous contributions by the employer on behalf of thetransferring member.

(b)        Any member whobecomes eligible for benefits under more than one system may file applicationtherefor with each retirement system to the end that each retirement systemshall pay appropriate benefits without transfer of funds between the systems.

(c)        The Board ofTrustees shall effect such rules as it may deem necessary to administer theprovisions of the preceding subsections of this section and to prevent anyduplication of service credits or benefits that might otherwise occur. (1973, c. 640, s. 1; 1983(Reg. Sess., 1984), c. 1031, s. 21; 2003‑284, s. 30.18(d).)