135-50. Short title and purpose. (a) This Article shall be known and may be cited as the "Consolidated Judicial Retirement Act." (b) The purpose of this Article is to improve the administration of justice by attracting and retaining the most highly qualified talent available within the State to the positions of justice and judge, district […]
135-51. Scope. (a) This Article provides consolidated retirement benefits for all justices and judges, district attorneys, and solicitors who are serving on January 1, 1974, and who become such thereafter; and for all clerks of superior court who are so serving on January 1, 1975, and who become such after that date; and for all […]
135-52. Application of Article 1; administration. (a) References in Article 1 of this Chapter to the provisions of "this Chapter" shall not necessarily apply to this Article. However, except as otherwise provided in this Article, the provisions of Article 1 are applicable and shall apply to and govern the administration of the Retirement System established […]
135-53. Definitions. The following words and phrases as used in this Article, unless a different meaning is plainly required by the context, shall have the following meanings: (1) "Accumulated contributions" with respect to any member shall mean the sum of all the amounts deducted from the compensation of the member pursuant to G.S. 135-68 since […]
135-54. Name and date of establishment. A Retirement System is hereby established and placed under the management of the Board of Trustees for the purpose of providing retirement allowances and other benefits under the provisions of this Article for justices and judges, district attorneys, public defenders, the Director of Indigent Defense Services, and clerks of […]
135-55. Membership. (a) The membership of the Retirement System shall consist of: (1) All judges and district attorneys in office on January 1, 1974; (2) All persons who become judges and district attorneys or reenter service as judges and district attorneys after January 1, 1974; (3) All clerks of superior court in office on January […]
135-56. Creditable service. (a) Subject to such rules and regulations as the Board of Trustees shall adopt with regard to the verification of a judge’s prior service, the prior service of a judge shall consist of his service rendered prior to January 1, 1974, as a justice of the Supreme Court, judge of the Court […]
135-56.01. Reciprocity of creditable service with other State-administered retirement systems. (a) Only for the purpose of determining eligibility for benefits accruing under this Article, creditable service standing to the credit of a member of the Legislative Retirement System, Teachers’ and State Employees’ Retirement System, or the Local Governmental Employees’ Retirement System shall be added to […]
135-56.2. Creditable service for other employment. Any member may purchase creditable service for service as a State teacher or employee, as defined under G.S. 135-1(10) and (25), and for service as an employee of local government, as defined under G.S. 128-21(10). A member, upon the completion of 10 years of membership service, may also purchase […]
135-56.3. Repayments and Purchases. (a) Purchase of Service Credits Through Rollover Contributions From Certain Other Plans. – Notwithstanding any other provision of this Article, and without regard to any limitations on contributions otherwise set forth in this Article, a member, who is eligible to restore or purchase membership or creditable service pursuant to the provisions […]
135-57. Service retirement. (a) Any member on or after January 1, 1974, who has attained his fiftieth birthday and five years of membership service 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 […]
135-58. Service retirement benefits. (a) Any member who retires under the provisions of subsection (a) or subsection (c) of G.S. 135-57 before July 1, 1990, after he either has attained his sixty-fifth birthday or has completed 24 years or more of creditable service shall receive an annual retirement allowance, payable monthly, which shall commence on […]
135-59. Disability retirement. (a) Upon application by or on behalf of the member, any member in service who has completed five or more years of creditable service and who has not attained his sixty-fifth birthday may be retired by the Board of Trustees, on the first day of any calendar month, not less than one […]
135-60. Disability retirement benefits. (a) Upon retirement for disability in accordance with G.S. 135-59, a member shall receive a disability retirement allowance computed and payable as provided for service retirement in G.S. 135-58(a2) except that the member’s creditable service shall be taken as the creditable service he would have had had he continued in service […]
135-61. Election of optional allowance. Any member who retires under the provisions of this Article shall have the right to elect to have his allowance payable under any one of the optional forms provided for in G.S. 135-5(g), subject to the conditions therein contained, in lieu of the allowance that would otherwise be payable. (1973, […]
135-62. Return of accumulated contributions. (a) Should a member cease membership service otherwise than by death or retirement under the provisions of this Article, he shall, upon submission of an application, be paid, not earlier than 60 days from the date of termination of service, his contributions and the accumulated regular interest thereon, provided that […]
135-63. Benefits on death before retirement. (a) Upon receipt of proof, satisfactory to the Board of Trustees, of the death of a member in service, there shall be paid in a lump sum to such person as the member shall have nominated by electronic submission in a form approved by the Board of Trustees or […]
135-64. Benefits on death after retirement. (a) In the event of the death of a former member while in receipt of a retirement allowance pursuant to his retirement under the provisions of G.S. 135-57, or after a former member’s sixty-fifth birthday while in receipt of a retirement allowance pursuant to his retirement under the provisions […]
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. (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 […]
