§ 135-75.1A – Forfeiture of retirement benefits for certain felonies related to employment or holding office.
135-75.1A. Forfeiture of retirement benefits for certain felonies related to employment or holding office. (a) Except as provided in G.S. 135-56(j), the Board of Trustees shall not pay any retirement benefits or allowances, except for a return of member contributions plus interest, to any member who is convicted of any felony under federal law or […]
§ 135-75.1B – Prohibition on purchase of forfeited service.
135-75.1B. Prohibition on purchase of forfeited service. Any member whose retirement benefits have been forfeited under G.S. 135-75.1 or G.S. 135-75.1A is prohibited from subsequently purchasing or repurchasing either those forfeited benefits or any creditable membership service associated with those forfeited benefits and that service may not be used for the purposes of eligibility for […]
§ 135-75.2 – Improper receipt of decedent's retirement allowance.
135-75.2. Improper receipt of decedent’s retirement 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 retirement allowance and the person (i) knows that he or she is not entitled to […]
§ 135-75 – Deduction for payments allowed.
135-75. Deduction for payments allowed. (a) Any beneficiary who is a member of a domiciled employees’ or retirees’ association that has at least 2,000 members, the majority of whom are active or retired employees of the State or public school employees, may authorize, in writing, the periodic deduction from the beneficiary’s retirement benefits a designated […]
§ 135-75.1 – Forfeiture of retirement benefits for certain felonies committed while serving as elected government official.
135-75.1. Forfeiture of retirement benefits for certain felonies committed while serving as elected government official. (a) Except as provided in G.S. 135-56(g), the Board of Trustees shall not pay any retirement benefits or allowances, except for a return of member contributions plus interest, to any member who is convicted of any felony under the federal […]
§ 135-65 – Post-retirement increases in allowances.
135-65. Post-retirement increases in allowances. (a) Commencing with the post-retirement adjustment, effective July 1, 1974, all retirement allowances payable under the provisions of this Article shall be adjusted annually in accordance with the provisions of G.S. 135-5(o). (b) Increases in Benefits Paid to Members Retired prior to July 1, 1978. – Notwithstanding subsection (a) of […]
§ 135-66 – Administration; management of funds; method of financing.
135-66. Administration; management of funds; method of financing. (a) The State Treasurer shall be the custodian of the assets of this Retirement System and shall invest them in accordance with the provisions of G.S. 147-69.2 and G.S. 147-69.3. (b) The assets of this Retirement System shall include employers’ contributions held with the Pension Accumulation Fund […]
§ 135-67 – Assets of Retirement System.
135-67. Assets of Retirement System. (a) All of the assets of the Retirement System shall be credited according to the purpose for which they are held to one of two funds, namely, the annuity savings fund and the pension accumulation fund. (b) The annuity savings fund shall be the fund to which all members’ contributions, […]
§ 135-68 – Contributions by the members.
135-68. Contributions by the members. (a) Each member shall contribute by payroll deduction for each pay period for which he receives compensation six percent (6%) of his compensation for such period. (b) Anything within this Article to the contrary notwithstanding, the State, pursuant to the provisions of section 414(h)(2) of the Internal Revenue Code of […]
§ 135-69 – Contributions by the State.
135-69. Contributions by the State. (a) The State shall contribute annually an amount equal to the sum of the "normal contribution" and the "accrued liability contribution." (b) The normal contribution for any period shall be determined as a percentage, equal to the normal contribution rate, of the total compensation of the members for such period. […]