§ 128-28 – Administration and responsibility for operation of System.
128-28. Administration and responsibility for operation of System. (a) Vested in Board of Trustees. – The general administration and responsibility for the proper operation of the Retirement System and for making effective the provisions of this Article are hereby vested in the Board of Trustees: Provided, that all expenses in connection with the administration of […]
§ 128-29 – Management of funds.
128-29. Management of funds. (a) Vested in Board of Trustees. – The Board of Trustees shall be the trustee of the several funds created by this Article as provided in G.S. 128-30. (b) Annual Allowance of Regular Interest. – The Board of Trustees annually shall allow regular interest on the mean amount for the preceding […]
§ 128-30 – Method of financing.
128-30. Method of financing. (a) Funds to Which Assets of Retirement System Credited. – All of the assets of the Retirement System shall be credited according to the purpose for which they are held to one of three funds, namely, the annuity savings fund, the pension accumulation fund, and the expense fund. (b) Annuity Savings […]
§ 128-31 – Exemptions from execution; employing unit to offset amount owed by member or beneficiary.
128-31. Exemptions from execution; employing unit to offset amount owed by member or beneficiary. (a) Except for the applications of the provisions of G.S. 110-136, and G.S. 110-136.3 et seq., and in connection with a court-ordered equitable distribution under G.S. 50-20, the right of a person to a pension, an annuity, or a retirement allowance, […]
§ 128-32 – Protection against fraud.
128-32. Protection against fraud. 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 […]
§ 128-32.1 – Failure to respond.
128-32.1. Failure to respond. If a member fails to respond within 120 days after preliminary option figures and the Form 6-E or Form 7-E are transmitted to the member, or if a member fails to respond within 120 days after the effective date of retirement, whichever is later, the Form 6 or Form 7 shall […]
§ 128-33 – Certain laws not applicable to members.
128-33. Certain laws not applicable to members. Subject to the provisions of Article 2 of Chapter 135 of Volume 3B of the General Statutes, as amended, no other provision of law in any other statute which provides wholly or partly at the expense of any county, city or town for pensions or retirement benefits for […]
§ 128-33.1 – Public records held by the Retirement System.
128-33.1. Public records held by the Retirement System. (a) The following definitions apply in this section: (1) Employment-related information. – As defined in G.S. 126-22(b)(3). (2) Personal information. – As defined in G.S. 126-22(b)(3). (3) Retirement file. – Any employment-related, retirement-related, or personal information of members in a State-administered retirement plan gathered by the Retirement […]
§ 128-34 – Transfer of members.
128-34. Transfer of members. (a) Any member of the North Carolina Governmental Employees’ Retirement System who leaves the service of his employer and enters the service of another employer participating in the North Carolina Governmental Employees’ Retirement System shall maintain his status as a member of the Retirement System and shall be credited with all […]
§ 128-27 – Benefits.
128-27. Benefits. (a) Service Retirement Benefits. – (1) Any member may retire upon electronic submission or written application to the Board of Trustees setting forth at what time, as of the first day of a calendar month, not less than one day nor more than 120 days subsequent to the execution and filing thereof, he […]