§ 135-151 – Qualified Excess Benefit Arrangement.
135-151. Qualified Excess Benefit Arrangement. (a) The Qualified Excess Benefit Arrangement (QEBA) is established effective January 1, 2014, and placed under the management of the Board of Trustees. The purpose of the QEBA is solely to provide the part of a retirement allowance or benefit that would otherwise have been payable by a Retirement System […]
§ 135-113 – Reservation of power to change.
135-113. Reservation of power to change. The benefits provided in this Article as applicable to a participant who is not a beneficiary under the provisions of this Article shall not be considered as a part of an employment contract, either written or implied, and the General Assembly reserves the right at any time and from […]
§ 135-114 – Reciprocity of membership service with the Legislative Retirement System and the Consolidated Judicial Retirement System.
135-114. Reciprocity of membership service with the Legislative Retirement System and the Consolidated Judicial Retirement System. Only for the purpose of determining eligibility for benefits accruing under this Article, membership service standing to the credit of a member of the Legislative Retirement System or the Consolidated Judicial Retirement System shall be added to the membership […]
§ 135-150 – Definitions.
135-150. Definitions. The following words and phrases as used in this Article, unless a different meaning is plainly required by the context, have the following meanings: (1) "Board of Trustees" means the Board of Trustees established by G.S. 135-6. (2) "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended from time to […]
§ 135-107 – Optional Retirement Program.
135-107. Optional Retirement Program. (a) Any participant of the Optional Retirement Program who becomes a beneficiary under the Plan shall be eligible to receive long-term disability benefits so long as the beneficiary is disabled and is in receipt of a primary Social Security disability benefit until the time the beneficiary would first qualify for an […]
§ 135-108 – Post disability benefit adjustments.
135-108. Post disability benefit adjustments. The compensation upon which the short-term or long-term disability benefit is calculated under the provisions of G.S. 135-105(c) or G.S. 135-106(b) may be increased by any permanent across-the-board salary increase granted to employees of the State by the General Assembly and the benefits payable to beneficiaries shall be recalculated based […]
§ 135-109 – Reports of earnings.
135-109. Reports of earnings. The Department of State Treasurer and Board of Trustees may require each beneficiary to annually provide a statement of the beneficiary’s income received as compensation for services, including fees, commissions, or similar items, income received from business, and benefits received from the Social Security Administration, the federal Veterans Administration, any other […]
§ 135-110 – Funding and management of funds.
135-110. Funding and management of funds. (a) It is the intent of the General Assembly that a trust fund be created that provides an irrevocable source of funding to be used, to the extent the fund’s assets are sufficient, only for disability benefits to participants and beneficiaries. Accordingly, the following provisions apply to that trust […]
§ 135-111 – Applicability of other pension laws.
135-111. Applicability of other pension laws. Subject to the provisions of this Article, the provisions of G.S. 135-9, entitled "Exemption from taxes, garnishment, attachment, etc."; G.S. 135-10, entitled "Protection against fraud"; G.S. 135-10.1, entitled "Failure to Respond"; and G.S. 135-17, entitled "Facility of payment" shall be applicable to this Article and to benefits paid pursuant […]
§ 135-111.1 – Improper receipt of decedent's Disability Income Plan allowance.
135-111.1. Improper receipt of decedent’s Disability Income Plan allowance. A person is guilty of a Class 1 misdemeanor if the person, with the intent to defraud, receives money as a result of cashing, depositing, or receiving a direct deposit of a decedent’s Disability Income Plan allowance and the person (i) knows that he or she […]